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Cryptocurrency trading with best altcoins in 2018

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Cryptocurrency trading with altcoins that are showing promising developments. The Bitcoin is getting expensive & riskier by every hour & no longer safe for small investors.

If you haven’t got a chance to invest in bitcoins or any other cryptocurrencies & want to get a headstart on the next big thing after bitcoin, you might want to read this article.

The latest cryptocurrency trends suggest that the altcoins will indeed rise, however, the action by countries like China put down the faith in cryptocurrencies altogether.

If there is going to be a bubble then the Next bitcoin bubble is indeed massive, and I am not talking about 18~25 k USD massive, I am talking about 50 k$ + massive.

There are many industry heads that have faith and disdain in Bitcoins. The ones with the faith are McAffee, & other leading techies.

But the ones with no faith are bankers, like Warren Buffet, & if he has something to say about Investing, you should listen to him.

At the time of writing this article, the Bitcoin was about 16k $. The way the price is rising it sure seems like a bubble. It may or may not burst in few months.

The Great Divide in Bitcoin Community

When I started writing this article the Bitcoin was $ 18K, by the time I finished it was $ 15.5 K. So the volatility is very high and not in favour of investors as of now. It’s best to move away from Bitcoin to other cryptocurrency trading platforms.

There is an issue that has divided the bitcoin community is what is the best way to scale the bitcoin network. The Bitcoin network is based on something called Blockchain. The blockchain a list of transactions. In every 10 minutes, on an average, the BTC network adds a new block, and each block is limited to one megabyte for 2000 transactions per block.

This problem leads to chocking of the bitcoin network, increasing demand for verification of transaction. which consequently raises the transaction fees. So more BTC you move, less BTC value you get.

Apart from that, the BTC transactions are getting more and more delayed from several hours to several days. Hashflare.io had to block their withdrawal requests due to overwhelming requests for withdrawals.

You may also Like 4 Cryptocurrency Trends to look out for in 2018

These factors should worry you because as a potential investment Bitcoin is getting more and riskier by the day.

Why you should have an ” after bitcoin ” strategy

Imagine a day you woke up to a news that compels you to cash out your entire BTC investment. You go to your platform and ask for withdrawal or sale, but you are not alone, there are thousands other like you, requesting the same thing.

A sudden spike in supply and negative news will send the BTC value down, knocking down fellow cryptocurrencies as well.

This is called bursting of the bubble, the value has been accumulated but not accounted for. The BTC community wants to avoid such mishap and wants the network to be more reliable.

We need to stabilize the cryptocurrency until the transaction fees go down to a bearable number and the Cryptos are accepted by leading institutions as a legal tender. Till then we all are at a grave risk.

But we can minimize our risks by diversifying our portfolio, you can invest in altcoins, and you can invest in bitcoins in other ways as well, like futures.

Here is a live graph of Bitcoin price

But, you don’t need to worry about that for now, because I want to bring your attention to altcoins. The altcoins are cryptocurrencies other than bitcoin.

The Bitcoin is indeed the king of cryptocurrencies and it will remain so for at least mid of 2018. There is no dearth of resources asking you to invest in other forms of Cryptos but there are very few which will actually help you.

Most Altcoins, Brokers, ICOs are out there to rip you off. Especially youtubers that are promoting such platforms and asking you to use their referral code.

Don’t get me wrong, there are actually platforms that can give you real profit, but then we have to understand two things

  • Invest what you can lose

  • Keeping the expectations realistic

The Next Big Thing after Bitcoin: get ahead in game

There are about 2200 Altcoins that are currently on the market. Only a few of them are backed by reliable sources.

By reliable source I mean,

  • either the cryptocurrency has the backing of Institutions. These institutions have established themselves over the years as a reputed firm like Bitconnect.co or the government itself.

  • or the Cryptocurrency is run by marketplaces like any fiat currency. The BTC & ETH are widely used as a replacement of fiat currency in many online marketplaces.

  • or the Cryptocurrency has a network of miners that can verify the cryptocurrency.

  • AND the crypto must have shown great growth factor

The following list is the cryptocurrencies that I consider a wise investment on the basis of factors listed above.

1) Litecoin (LTC) 

First on our list is the Litecoin,  it was launched in the year 2011 by MIT graduate and  Google engineer, Charlie Lee. (Bitcoin was launched in 2009) so it was among the primary cryptocurrencies that followed bitcoin.

Litecoin is based on same principles as Bitcoin and uses Scrypt algorithm as a proof of work. Following are the factors that make LTC a good candidate after BTC.

Lite coin uses essentially the same technology of Bitcoin. Lite coin costs a lot less than Bitcoin, its holding value is more promising than any other coin.

In my opinion, if you want to invest in bitcoin take out 10 % of your funds from BTC and buy litecoin.

The founder of Litecoin sold all of his holdings citing a conflict of interest.

Pros of LTC

  • Use of Scrypt: Scrypt algorithm instead of the usual SHA-256 algorithm. The Scrypt is better performer and distributor of Hash Power among users.

  • Short Confirm Time: Litecoin confirms in average 2.5 minutes. THAT IS FAST. I mean really fast. if you buy litecoin or sell them the transaction will complete in minutes; unlike BTC which is taking hours.

  • Exponential Value Explosion: Since past few months the Litecoin has a great boost in its value. So the people who mined it already when it was easy are probably rich now.

  • Low Blockchain Size: Due to Segwit adoption and anti-spam transaction filter the blockchain size of litecoin is small as compared to that of Bitcoin. It is smallest among major Cryptocurrencies.

  • Merchants Accept Litecoins: there are plenty of merchants who accept sell and buy Litecoin option.

  • 4 x Bitcoins: There are 84 million Litecoins that can be mined.

Cons of Litecoin Investments

  • Volatility affected by Bitcoin:  Bitcoin’s price explosion has an effect on Litecoin’s volatility as well. I suspect when the Bitcoin bubble bursts it will affect the Litecoin as well.

So if you buy Litecoin today you may get a very good return in next one year or so.

2) Ethereum (ETH)

Ethereum was Launched in 2015. It is a decentralized platform that allows Smart Contracts and Distributed Applications (ĐApps) to be formulated and run without any downtime, fraud, restriction or external interruption.

There is no better coin than ETH if you want to invest it now and have a peace of mind. ETH is basically more reputed cryptocurrency than any other in the market.

There are many ICO’s coming out for ETH so if you want to get into the game, now is the time. Actually, July 2017 was the time, but you still got to invest in some cryptocurrency with high value and low risk, go for ETH.

After the attack on the DAO in 2016, the Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH).

That’s 3 different coins and in total these amount to the market capitalization of $41.4 billion.

Pros of Ethereum

  • Preferred choice of Initial Coin Offerings or the ICOs make it most stable currency so far

  • Based on smart contracts. The Smart Contract make transactions irreversible & Reliable

  • Most preferred currency after Bitcoin

  • Second Most traded cryptocurrency

  • There is no limit to ether supply

  • Can be mined using graphics cards so there is no need to buy ASIC miners

Downsides of Ethereum

  • Ethereum is based on the same technology as bitcoin but it makes it vulnerable to latest developments that can replace it.

  • Volatility affected by Bitcoin surges and downfall which causes harm to investors

3 ) BCH (Bitcoin Cash )

BitcoinCash is a similar coin like Bitcoin except it has faster transactions. There are 21 Million possible just like BTC.

When BCH was at $ 652, It was predicted that Cryptocurrency trends 2018 for the BCH will show high growth.

Coinbase, the leading cryptocurrency trading platform extended its full support for the BCH. This news also soared the value of BCH from $ 2800 to $ 3800.

 

Following are the Pros and Cons of BCH

Pros of BCH over BTC

  • Faster transaction than BTC

  • Fewer Transaction fees

  • Difficulty adjustment

  • Active Developer network

  • Good growth factor

Cons of BCH

  • Not many altcoin pairings

  • If BTC network was able to pull off their lightening network it will hurt BCH briefly

  • BCH is mined by two miners which practically makes it centralized

4) Ripple (XRP)

Ripple or XRP is a fast transferrable cryptocurrency, it’s creators were Web developer Ryan Fugger, businessman Chris Larsen and programmer Jed McCaleb.

100 Billion XRPs were created at the time of creation of the Ripple. 60% of the Ripple is with Owners, to avoid inflation in XRP’s value. Rest is sold to banks at a very discounted price.

They did this to get banks on board, now day to day business activities are carried out using XRP. This gives the currency legitimacy & confidence.

200~300 Million XRP is released on exchanges every month, this does not affect the XRP’s price.

XRP has taken over the Swift, the cryptocurrency that ruled the Japan Market. Their team is said to have best programmers in the world.

The Ripple enabled banks to settle cross-border payments in real time. It is known for end-to-end transparency ( which is exactly opposite feature of ZCash).

  • The cost to transfer and verify the currency is also low. With a market capitalization of $1.26 Billion

  • the Ripple has become a strong contender to lead cryptocurrencies after bitcoin.

    So it can not be used in shady criminal operations because it is traceable.

  • Ripple’s Ledger doesn’t need mining for confirmation. So there is a lot less computing power required to run the currency.

  • The XRP is fast reliable & backed by banks and marketplaces making it very stable

Cons of buying Litecoin

  • Practically a centralized system

  • Very low value and low volatility

  • Not good for cryptocurrency trading; but good for holding on to.

5) Monero (XMR)

Monero is an open source, secure, private and untraceable currency. The core technology behind Monero is ‘ring signatures.’

Monero is one of the currencies that I think that will see the year 2020. And a lot of other cryptocurrency enthusiasts will agree with me on the conclusion.

The Ring Signatures is a cryptography technique. In Ring Signature, a group of members share a record, the validity of record is verified by a digital signature, and any member of the group can do the Digital Signature. There is no way of knowing which one did the signature so anonymity is maintained.

If you find this article useful or if you have any questions do let us know.

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