With the news being full of doom and gloom about Bitcoin and the entire cryptocurrency market. It would appear to be the wrong time to consider investing in cryptocurrencies.
The actual truth is there has been no better time to think about which cryptocurrency to buy.
Recently, the prices have taken a tumble which from an investment point of view is good. If you choose the right coin, the prices will be at the lower end of the price range, and they can make a recovery and make a climb passed where they were before.
When the general public come to fully understand and put their backing behind cryptocurrencies is the time the real benefits of cryptocurrency are realized.
No slow cross-border financial transactions, lower transaction fees and the ability to use money from one secure source for anything at any time of the day.
Crypto’s bring many more benefits depending on the problems or situations they aim to address.
BTC was the first cryptocurrency to make itself known to the world and is still number one, and in many people’s eyes, it will still be number one.
Altcoins as Better Alternatives
There are so many benefits of cryptocurrency apart from the above though you have to look at individual coins to see what they offer businesses and end users to make them viable solutions.
As from an investment point of view, the cryptocurrencies should have a stable company behind them and have a vision that what they are doing is bringing benefits to the world.
To understand some of the best investments you need to do homework and perform a cryptocurrency comparison to see if the coins have a long-term vision and can provide longevity for their products. Here are some crypto’s that might be worth a closer observation to see how they perform over the coming year.
Each has benefits though if these can make it into a market leader is yet to be seen. One does bring something very new compared to all coins before it and can make a significant difference in what we know and how we interact.
Online storage (the cloud) is big business for corporate companies. Dash uses its peer-to-peer network model and decentralizes the storage capability and takes it away from larger ISP’s who provide these services. The network is decentralized and incentivized, so users and miners create value to the network.
Smart contracts are the focus of this currency. Cardano is decentralized and is based on the Blockchain. These smart contracts go way beyond only digital cash and can be used for self-running programs when specific criteria have been met.
As with Ada-Cardano Neo introduces smart contracts to the Blockchain. As well as the ability to use and control many digital assets which are governed by these smart contracts.
A bBFT (delegated Byzantine Fault Tolerance) consensus is used to support up to 10,000 transactions per second.
For something new altogether is Skycoin and the network it works with so closely. Coins use their new Obelisk algorithm and require no mining which eliminates extreme power usage. Transactions are also completed in mere seconds while retaining security and privacy without fees.
Skywire the underlying network is entirely decentralized and takes control away from the large ISP’s and splits information between the network nodes (aka miners) who get paid for hosting services and enforcing security on the “Web of Trust.”
From all the digital coins SKY is the one to watch as it is bringing the possibility of new internet and brings back net neutrality back to the users.
The internet of things brings many advantages as it expands the number of connected devices. IOTA is the cryptocurrency that is scalable, modular, decentralized and introduces lower fees.
The Blockchain is used to maintain the ledger although the coin uses the “Tangle” which improves the scalability problem.
With the Tangle in use. Transactions become faster the more users are on the network rather than becoming slower as does BTC.
This is the cryptocurrency that powers the incentivized social media platform built on Blockchain technology.
Content is written and posted on any other social media platform, and the writers of this receive micropayments for performing the task. The platform Steem powers are Steemit, and content can be created without holding an account to further protect privacy.
There are a large number of people who ask is it too late to get into bitcoin? The question is no, many cryptocurrencies are traded using bitcoins, so there is still plenty of life left before the full potential has been reached.
Bitcoin has paved the way, and there is still a long way to go before this coin, and the others mentioned become commonplace.