Finding 5 cryptocurrencies that are perfect for your investing or trading needs can be quite a task. There are over 1300 cryptocurrencies available in the market, but sad to say only a few of them are worth your time.
Some are just copies of Bitcoin or other cryptocurrencies, while others are a total scam. Here is a list of 5 growing cryptocurrencies that you should think about.
Before you can invest in any cryptocurrencies, you have to make sure that you have a broker where you can indeed trade all the right cryptocurrencies. There are a range of brokers to consider but one of the most well known is IQ Option for cryptocurrencies.
1. Bitcoin.
This is considered to be the gold standard of all cryptocurrencies. This is because all other cryptocurrencies are compared to and traded in bitcoin. It has shown astounding growth, and just for 2017 alone, posted 1000% increase in value.
It is smashing through the 1000 price checkpoint day by day, and this is expected to continue, especially with the incoming investments by institutional investors. Even institutional traders, people who control billions of dollars, are buying bitcoin personally, contrary to what their bosses are saying.
Suffice to say that Bitcoin is one of, if not the, best cryptocurrency in the market today. This may change in the future but definitely not in the short term. If you can only have one cryptocurrency in your portfolio, then Bitcoin will be a good choice.
2. Ethereum.
If you are looking for a cryptocurrency that is actually being used by companies internally, then you will want to trade Ethereum. This cryptocurrency, or specifically the Ethereum network, is being used by what we call the Enterprise Ethereum Alliance, a group of 86 firms that are doing business with or are part of the Fortune 500 companies.
The list includes Banking and Finance Giant State Street, Computer Giant ING and even the world-class auto manufacturer Toyota. With looking at just the fundamental viewpoint, this cryptocurrency has a lot to offer and should continue to go higher. This is a relatively new cryptocurrency since it was offered in 2014 and based on ethereum smart contract technology. Price has risen from $2.83 to $434.36.
This has the second highest market value among all cryptocurrencies. Plus, in a technical analysis and price action viewpoint, the trend of the price is going up.
3. Iota
This cryptocurrency has the fourth largest market value for good reason. The reason for this is because of the technology behind it. Most cryptocurrency use in some form the blockchain technology that was popularized by bitcoin.
Iota uses its own twist to it which they call the tangle. Due to how fast and comprehensive the technology is, transactions using this cryptocurrency does not incur any kind of fees. Other cryptocurrencies are limited by their script which means that they cannot scale faster and higher, but that limitation is not present in Iota.
With this reason, a lot of major companies like Microsoft and Samsung are using the technology of Iota and this has pushed the price of iota from $.63 to $3.51. If you are more focused on technology, then this cryptocurrency would be a good investment
4. Dash
True to its name, this cryptocurrency is immensely fast and is effective in protecting your privacy and security whenever you do a purchase. Salon it’s starting price of $.21 on February 14, 2014, it is now worth $694.
One reason why this is very loved by the cryptocurrency community is that, unlike other cryptocurrencies, all operations and business development for Dash is paid by the companies that uses its services. This gives it sterling reputation and complete trust.
Due to its financial independence, Dash can just focus on improving their systems without doing most of the marketing and press releases that other cryptocurrencies. This serious and improve yourself culture and mentality make it an interesting cryptocurrency to watch out for.
5. Monero
This is a cryptocurrency to look out for because it has a big room to grow. Currently this cryptocurrency is at the ninth place with regards to market capitalization. The great thing about Monero is its simplicity.
Unlike other cryptocurrencies that function as a currency and then as another platform, like Ethereum as technology provider and Dash as a payment network, Monero only has one job which it does really well; be used as a currency.
You cannot be traced with Monero, providing absolute privacy and security. You will not even know who will send or receive your Monero, unlike other cryptocurrencies. The bigger the network grows, the lesser the fees would be, giving it quite a big potential to grow.
With these five cryptocurrencies, you should be able to find the one that fits your investing or trading philosophy the best. While no one can completely predict the prices, these five cryptocurrencies have their own specific strengths that makes them better than the rest.
