With so many different Cryptocurrencies to choose from, how can investors really know which is the greatest Cryptocurrency to invest in? Even with so many new currencies hitting the market every day, investing in Cryptocurrencies is no easy task. Popularity is good, but it doesn’t always indicate future profitability. In this article we will look at some of the lesser known, yet potentially very profitable Cryptocurrencies to invest in for the long-term.
One of the first new highs in this year was Monero, which has soared past the previous high of $1.6 billion in late January. The developers behind Monero are hard at work creating an open source version of the protocol that will replace the current paper wallet. This will allow investors to transact with their tokens without the worry of their private information being exposed. If their hard work holds true, investors will see big gains in this sector as well.
A relatively new Cryptocurrency on the market is Dash, which was created by an influential member of the bitcoin community, along with his associates. Dash is based on the bitcoin protocol, but unlike other coins based on this technology, Dash is designed for the individual investor. The reason for this is simple: individual investors are much more savvy than institutional traders and will thus able to take advantage of trading opportunities much better than larger investors. As a result, Dash is experiencing strong growth right now and should continue to do so as it takes shape and begins to gain a mainstream following.
A second upcoming great coin is called Stellar Lumineer. Unlike other currencies, which base their values on the spot price of certain currencies, Stellar does not rely on any particular “asset”. Instead, it bases its value on the performance of the US dollar. As one would expect, this cause has caused Stellar’s prices to skyrocket in recent weeks, and is currently the hottest thing going in the Cryptocurrency industry. Although this isn’t expected to last, it is something that many cryptosporters could profit from, especially as the Stellar wallet develops and becomes even more popular.
Finally, the last great currency that will be discussed is Litecoin. As you may have guessed, Litecoin was designed as an improvement on the old model of using various fiat currencies to trade. By removing the middleman, the market for Litecoin has increased dramatically, and is currently the most profitable cryptocurrencial asset to trade right now. Litecoin, like Dash, is based on the proof-of-work system that is at the core of the bitcoin protocol. However, the biggest difference between the two is that Litecoin is less likely to change into a different digital asset, such as the EUR/USD pair.
One other attribute of a good Cryptocurrency market is that it is easy to trade. All Cryptocurrencies follow a simple market structure whereby an investor buys a certain number of coins and then invests that money into a new project. An important attribute of any Cryptocurrency is its market cap, which expresses the value of a cryptocoin on a fundamental scale. By determining how much each individual currency is worth, investors can quickly and easily determine if an investment is worthwhile.