Experienced crypto investors will bear witness that crypto trading is not a smooth ride. There are times when bitcoin’s value will lose value overnight and you could get a panic attack. There are times cryptocurrencies will double in value and you think of investing everything you own.
It’s the tough times that test your cryptocurrency investment skills. Right there when everyone says cryptocurrencies are on the verge of losing meaning, how you react as an investor can shape the next course of your portfolio.
A good investor selects a cryptocurrency after doing enough research. They will find out the team behind the project, analyze their skills and the read the project’s whitepaper. Once you know you’ve invested in a cryptocurrency because it’s worth investing in, fluctuations can’t give you panic attacks.
There are many cryptocurrency projects out there worth investing in. But if you like investing safely with the top 10 cryptocurrencies, here are five most interesting altcoins.
1. IOTA
IOTA is a decentralized open source crypto technology designed for the internet of things. The company was founded in the 2015 and attracted a lot of attention with its clear goals and a unique blockchain.
IOTA’s main goals are:
- Data integrity is maintained. This is to be done through documenting and protecting of data on a comprehensive decentralized ledger.
- Maintaining zero fees transactions between owners of data and companies or individual in need of such data.
IOTA is built on a special type of blockchain known as Tangle. The tangle encompasses a direct acrylic graph with nodes that help verify IOTA transactions. The MIOTA coin is used as a means of payments on the network. There are no transactions fees for using IOTA, which is why the network is everyone’s favorite for completing micropayments.
IOTA has appeared on cryptocurrencies news since its launch. Its price has increased by thousands of percentages in the past two years and currently ranks among the top 15 largest cryptocurrencies.
2. CREDITS
Credits started making headlines around February 2018 and rose in value by more than 50% between 15th and 28th of the same month. The CREDITs project was developed with cryptocurrency payments in mind. It uses advanced techniques to achieve scalability while remaining secure and decentralized.
The CREDITS’ project has a block maturity of 10 blocks, transaction speeds of just 128 seconds and infinite scalability. Like several other blockchain projects, CREDITs was developed to improve its scalability with time. As more nodes adopt the network, CREDITs will be able to handle the transaction numbers without lagging.
While it’s barely six months since CREDITs coin was launched, it has already tripled its price. Find out more about the CREDITs project at https://www.abitgreedy.com/what-cryptocurrency-to-invest-in/ before deciding whether to make an investment decision.
3. DASH
Dash is a peer to peer open source blockchain technology that offers users speedy and private payments. It was launched as Dark coin but later changed to XCoin before rebranding to Dash. The cryptocurrency possesses a decentralized self-governing structure in the organization that contributes to the success of instant transactions. For every new dash token mined, 10% of it goes to the treasury, 45% of it goes to the miners and the remaining 45% goes to the master nodes.
Dash blockchain is built on a decentralized ledger and its transactions are governed through a consensus mechanism called proof of work. To mine Dash coins, miners will have to solve very difficult mathematical equations with the aid of specialized computers. Once the equation has been correctly solved, the miner is permitted to add a new block to the blockchain and is awarded new Dash coins.
The mining process is mostly controlled by the master node owners, who are about 4500 in numbers. Like many altcoins, DASH can be mined with GPU computers. DASH developers actually wanted the coin to be mined with CPU and GPU miners alone but there are several ASICs made for DASH mining.
For investors, the DASH coin is one of the top five most popular privacy coins. In fact, it’s hard to hear of a conversation about private coins that do not mention DASH. The cryptocurrency currently ranks 14th among the largest cryptocurrencies and has a market cap of above $1.9 billion.
4. EOS
EOS is an ethereum competitor. It is a smart contracts deployment platform and a host for decentralized applications. The project launched as erc20 token hosted by ethereum but launched its main net in June 2018.
EOS targets large-scale industrial applications that want high scalability. Following ethereum’s regular slowness when overwhelmed by ICO transactions, some decentralized apps have been looking for blockchains with the ability to handle thousands of transactions per second.
The EOS network has infinite scalability but was launched with a cap of 50 transactions per second. As the network grows in value, scalability will increase EOS will have proper management of their platform.
The EOS token, with a total supply of just 896.1 million coins, serves as the means of transacting on the EOS decentralized network. EOS as a cryptocurrency has undergone fluctuations but has been on an upward trend since its launch.
5. NEO
NEO is blockchain technology built mainly merging various digital identities, certificates, and assets along with smart contracts into one on a decentralized network. NEO’s main goal can be simplified to wanting to make digital asset self-sufficient by use of smart contracts.
NEO tokens are the proposed tokens to be used on the NEO smart contract network. The total supply of NEO tokens is about 100 million in number and an NEO token is priced at $31 at the time of writing.
In Conclusion
There are more than 1500 altcoins available for investment, and many more are being released on a daily basis. However, not every altcoin will be worth investing. In fact, many are the cryptocurrencies that you just ignore because you can’t understand them or you don’t believe in them.
Research is an important part of the investment process. You have to read each whitepaper, find out about the team heading the cryptocurrency project and evaluate the coin’s use cases before deciding to invest in it. Finally, you must also be cautious when you invest so that you only invest what you could afford to lose.
If you are still new to the crypto-space, we have a guide for beginners here: A Basic Introduction to Crypto Currencies.
Hope you found this post helpful.