A cryptocurrency investor names his favorite and least favorite digital currencies
With so many digital currency options, it can be difficult for investors to know how to navigate the universe of cryptocurrencies.
Ran Neu-Ner, founder of Onchain Capital and host of "Crypto Trader" of CNBC Africa, offered some advice to the traders of "Fast Money" on Thursday. These are some of your favorite and least favorite digital currencies.
Neu-Ner is an early investor in the large-cap currency. But he still said he would sell.
"I like Bitcoin," he said, but noted that it is "too low a price." The currency, valued at US $ 19,500 at the end of last year, traded around US $ 8,100 on Thursday night.
"It will continue to rise, slowly and in a stable manner," he said. "But there are more interesting cryptocurrencies."
The currency, whose price was around US $ 1,200 on Thursday night, had fallen by around US $ 100 since Tuesday. But that is still almost double its April 17 level of US $ 763.
With a solid team behind the coin, Neu-Ner said he sees a lot of potential.
Hold this coin, Neu-Ner said, "sure."
He noted that Ethereum has many potential uses and one of the largest communities in the industry, with thousands of people, "the smartest people in the room."
But it's not just the Ethereum that Neu-Ner is excited about.
"I'm excited about a new generation of protocols like Ethereum," he said. Some selections: Oasis, Zilliqa and Thunder Token.
"Ethereum has scalability issues," said Neu-Ner. "They are doing 15 transactions per second. That means that it is not about real world things. But some of the other chains are solving this. They promise 10,000 transactions per second. "
Definitely a sale, said the encryption operator of Ripple.
"I throw it away," said Neu-Ner.
While Ripple said the company is "one of the best companies I know," he said his token, the XRP, is not.
"I can not find a use case for the token," he said. XRP is also a centralized tab, which according to Neu-Ner defeats the point of blockchain technology.
"I'm leaving," he said.