It’s no doubt you have heard of the exciting new world of cryptocurrency and wondered whether to dip your toe into the often turbulent waters of investing in this new vision of digital commerce. The best cryptocurrency to invest 2018 is ultimately the one you believe will go up in value the most while having the lowest likelihood of depreciating.
In this article, we’ll be exploring what cryptocurrency is, how to buy it, the benefits of using these new currencies, and, finally, the top ten options for the best cryptocurrency to invest 2018.
1. What Is Cryptocurrency?
Cryptocurrency is a new form of currency that uses blockchain technology to create a “decentralized” public ledger to keep track of all past transactions.
These currencies have appreciated in value so quickly there has been a feeding frenzy of investors searching for the best cryptocurrency to invest 2018. The ability of these new currencies to allow anonymous usage is another major factor attracting many investors.
2. What Are the Benefits of Using Cryptocurrency?
There are many advantages to using cryptocurrency. Due to the decentralized ledger, no government of any country can ever seize your cryptocurrency assets, and you can spend these currencies anonymously without being tracked. Therefore, many people who would traditionally invest in precious metals or foreign currencies are turning their attention to cryptocurrency.
Because predetermined algorithms control many cryptocurrencies, there is usually a fixed rate for new currency creation. This is in contrast to the U.S. Dollar for example, where our government can print as much money as it wants, thus diluting the value of the dollar in the long run. The scarcity of a currency is part of what allows it to keep its value, and the mechanisms that cryptocurrenciesuse to create more currency are much more predictable than conventional currency.
3. How Does Cryptocurrency Work?
Cryptocurrency represents a radical new idea for how a currency should work, for a few reasons. Governments create conventional currency, the money people earn, spend into the economy, and that banks store and move around through loans and investments. Conventional currency uses this, a centralized model, for keeping track of past transactions.
This means each payment made with a card using conventional money passes through the banks for approval or denial. It ultimately means your government could freeze your accounts and instruct the banks to deny all charges. This is something that sometimes happen when citizens find themselves in legal trouble.
With cryptocurrency the ledgers of past transactions use a distributed model that leverages computing power all across the world to approve or deny transfers.
4. How Can You Buy Cryptocurrency?
Purchasing the new cryptocurrencies would most likely be the biggest barrier for many investors new to this concept. Online you’ll find many hosted exchanges where you can trade your local currency and convert it into your cryptocurrency of choice.
This step has costs involved and there have been cases of fraud where the online exchanges have been the target of malicious hackers who have been able to steal large sums of currency in one security breach. Many investors see these rare occurrences as part of the risk of investing, but it is important to know fraud does sometimes happen.
5. How to Determine the Best Cryptocurrency to Invest 2018?
Determining the best cryptocurrency to invest 2018 is a rather straightforward process. The main question to ask is whether your chosen cryptocurrency will appreciate in value or possibly depreciate to lower than the dollar value you invested. Supply versus demand determines the likelihood of either scenario happening. The popularity and usage of the currency can help determine the demand, and the rate at which the new currency is “minted” will determine the supply.
How We Reviewed
We reviewed the financial products in this article with the following criteria in mind; the benefits offered with using the currency, the price of the currency compared to conventional money, the ease with which you can purchase the currency, and the possible outlook of the value of the currency in the coming months. We’ve done our best to balance these factors and recommend only the top ten best cryptocurrency to invest 2018.
What We Reviewed
- Zcash (ZEC)
- eTHEREUM (ETH)
- Dash (DASH)
- Ripple (XRP)
- Neo (NEO)
- Steem (STEEM)
- Cardano ADA
- Monero (XMR)
Zcash (ZEC) is one of the newer additions to the market, but is has gained popularity quickly when compared to other cryptocurrencies. As of 2018, there are about 21 million coins in circulation and investors can have a level of anonymity. Reports that feature many details are also available to help investors keep track of the supply and demand of this currency.
The conversion rate of this cryptocurrency is at approximately 1 ZEC = $206.89 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
Ethereum is the brainchild of a computer programmer, Vitalik Buterin, and was first introduced in the middle of 2015. Ethereum has about 12 million coins in circulation. Just last year Ethereum saw a high level of appreciation with over 13,000% of growth in value in just one year. This alone makes investing in Ethereum a great option. It is one of the most popular and well-known cryptocurrencies outside of Bitcoin and is easy to get started with. This makes Ethereum a great place to start of beginning investors and one of the best cryptocurrency to invest 2018.
The conversion rate of this cryptocurrency is at approximately 1 ETH = $175.86 USD. Keep in mind, these values change constantly from minute to minute. The value of each currency mentioned in this article is subject to change.
When speaking about investing in cryptocurrencies, definitely include Dash on your list. Created in 2015, it is one of the oldest currencies on our list, and it carries one of the highest dollar values of cryptocurrencies in our review. They now process over $100 million dollars worth of transactions daily, due to the high reliability and the low risk of fraud they offer with this cryptocurrency.
The conversion rate of this cryptocurrency is at approximately 1 DASH = $143.22 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
VeChain may be one of the most underrated investment options in the cryptocurrency industry right now. The company’s leader Sunny Liu has worked in multiple executive positions at many top companies you will find in the Fortune 500, lending to the bright future of this currency. Used mainly in China, to develop supply chain solutions for companies operating in the eastern section of the world, this currency will gain popularity in western markets in the coming years, which will only further speed up its rate of appreciation in value.
The conversion rate of this cryptocurrency is at approximately 1 VeChain = $0.007786 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
Ripple has gained a lot of popularity recently, even being accepted as valid payment by trusted institutions such as MIT. There are even cases of startup companies using this cryptocurrency for multiple rounds of funding instead of conventional currency. Introduced in 2011, Ripple is best known for its quick rate of transfer, which makes using it as a day-to-day currency much more practical. The system refreshes every 2.5 minutes making it much faster than other cryptocurrencies.
The conversion rate of this cryptocurrency is at approximately 1 XRP = $0.52 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
The high level of technology that went into creating and securing this currency makes it attractive to investors. NEO uses a technology referred to as a Delegated Byzantine Fault Tolerant system. This sophisticated system allows this currency to be one of the most secure on the market which makes investors much more comfortable making an investment. There are about 100 million coins in circulation.
The conversion rate of this cryptocurrency is at approximately 1 NEO = $13.16 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
IOTA features the ability for business to comply with local laws regarding money laundering and taxation while still being able to use a cryptocurrency. This distinction separates this currency from many other options and lend legitimacy to its use for both businesses and investors. This currency is aiming to become closely integrated into the ecosystem referred to as the Internet-of-things. This system comprises many smart, internet-connected devices that assist your daily life.
The conversion rate of this cryptocurrency is at 1 IOTA = $0.40 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
STEEM is a unique cryptocurrency that used content creation as the mechanism for minting new coins. They give tokens to writers of blogs and comments, and they can use the tokens to purchase products and services on the Steem platform. Many new writers are taking part in this interesting take on currency lending to a bright future for Steem.
The conversion rate of this cryptocurrency is at 1 STEEM = $0.94 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
This currency uses a completely decentralized blockchain platform to power its transactions. Cardano is the first Haskell code based currency in use, which makes it an interesting currency for investors to keep an eye on in the coming months.
The conversion rate of this cryptocurrency is at 1 ADA = $0.0626 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
One of Monero’s main features is it is untraceable, and that means it is anonymous for users. The currency’s blockchain records are not traceable, which has made it to go-to option for people concerned about their privacy. The currency has appreciated over 1300% since it was first introduced which is making many investors keep a close eye on this currency.
The conversion rate of this cryptocurrency is at 1 XMR = $91.89 USD. Keep in mind, this can change from minute to minute. The value of each currency is subject to change.
In conclusion, investing in any of these cryptocurrencies could work well for the savvy investor, but determining the right investment for you can take time and research. Many people have made a lot of money buying cryptocurrency, and other people have lost money buying this currency. The volatility of even the best cryptocurrency to invest 2018 can be a deterrent to many investors, but weighing the pros and cons of each cryptocurrency can help you take a calculated risk when putting your money into these new financial products.
If you are looking to invest in one of the most well-known and respected cryptocurrencies, a good choice would be Ethereum. Not only does this cryptocurrency have popularity on its side, the rate of new currency being minted is very predictable, it has the longest track record among all the other cryptocurrencies on our list, and it carries less fraud than some other currencies, which makes it the best cryptocurrency to invest 2018.