Low-Cost Cryptocurrencies For 'Ripple-Style' Profits - Top Picks For 2018
Since Ripple went from $0.20 to over $3.50 in two months, returning huge gains to investors, penny cryptocurrencies are a hot topic.
In spite of the current cryptocurrency bloodbath, investing in the popular cryptos is still expensive. On top of that, the chances of multiplying your investments are rather small. The chance that Bitcoin price will be going up to $30000 is quite slim. Same for Ethereum. What are the odds the price will be doubling in 2 months?
Because of this, new investors often turn to inexpensive so called 'penny cryptocurrrencies'. Although the risk is higher, there's still room for growth and thus exponential gains.
My Top Picks
1. Stellar
The Stellar coin Lumen trades under the name of XLM.
Being created by one of the co-founders of Ripple, Stellar has its own unique way to drive demand.
Where Ripple was created to allow banks to move money across borders while saving on transaction fees, Stellar was created to do the same for individuals instead of banks.
Stellar is slowly gaining popularity and market value. Just a couple of months ago, no one had ever heard of Stellar. Today, it's sitting in 9th place of the list on Coinmarketcap, trading at about $0.5.
The main reason I think that Stellar has a great future and will see significant growth in 2018, is the fact that they recently made a deal with IBM, allowing them to bring Stellar’s blockchain technology to the mainstream.
Also, several global banks have shown interest in the cross-border payments platform that Stellar offers.
During the last two months, Stellar's price performance was even better than Ripple's ánd Bitcoin - the coin value went up with 1300%.
Make sure you don't miss out on this one! If you buy in now, you might see huge profits coming your way in 2018.
Stellar Charts
2. Cardano
After receiving a tip fro a friend to take a look at Cardano (which trades under the name ADA), I decided to invest immediately. A couple of weeks ago it seemed to come out of nowhere, landing on the 10th spot in the Coinmarketcap list. Today, it has taken over 5th place, pushing Litecoin back to 6th.
Cardano was created by an Ethereum developer and shows some resemblances. Just like Ethereum, it is a Blockchain - based platform, intended to create smart-contract-based decentralized applications (Dapps).
Since Cardano is still under development and doesn't support smart-contracts yet, the price is still very low.
The Cardano team knew it would be difficult to break through in the West, because of the popularity of Ethereum, so they made the smart move to take their coin to Japan as their launchpad. Since cryptocurrencies are pretty common in Japan, it might be the best place for ADA to strive for public adoption.
Cardano has big plans for the future: not only is it faster than Ethereum, it also promises that its platform will support both Bitcoin and Ethereum Classic.
Since the end of November, ADA's price has gone up more than 1000% and it is currently trading for $0.7.
Because ADA is still under development, and if you buy in now you might have a good chance to strike while the iron is still hot.
Cardano Charts
Other Penny CryptoCurrencies
There are currently over 1300 currencies trading on exchanges, but you must realize that only a handful will survive and make it in the long run.
Low-cost coins may seem like a profitable investment at this point in time, but you should be aware that most of them are just a pump-and-dump scheme. You could get lucky and make good profits in a short time span, but it's better to do intensive research before you invest in anything. The main factor you should be looking at is the utility of a coin - because that's what will be making the difference in the long run.
Personally, I think Cardano and Stellar stand the best chance to deliver Ripple-style returns.
Please note that this article is not intended as investment advice. You should always do your own research , make your own decisions and be comfortable with the risks before making an investment.
Image Sources:
Pixabay
Logo Stellar
Logo Cardano
Charts
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Thanks for your 2018 predictions. I own some Stellar and have been quite happy with where it's been going. I don't own any Cardano yet, but considering it down a bit from the beginning of the month it looks like a good time to get in.
I think this is indeed a good time to buy, since the price has gone down :-)
Thanks for the interesting read on your insight into these crypto @mike314-0005
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nice analysis. I'd definitely consider them, I just need to study cryptos more before I invest. thank you for this very informative post.
you're welcome
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Thanks for the tips!