What Makes a Cryptocurrency Coin or Token Great?
If you are familiar with the cryptocurrency sector, you know that there are 100’s of coins and tokens traded currently. According to the website coinmarketcap.com, as of 3/22/18, the exact number is 1577 with more joining the public trading sector each day. According to the same site, in January of 2014, there were only 67 coins and tokens traded, and I’m sure you guessed that had you invested at that time, you would have been sitting on a nice nest egg right now.
The great news is that many analysts predict that the cryptocurrency sector is only going to get bigger in the years to come, so you still have time to purchase some coins or tokens that one day may be worth a lot of money, but with all these choices, what do you buy? Well, the best thing to do is invest in that next great coin or token, but identifying it may not be that simple.
What makes a great coin? Perhaps it’s the name or how popular it is? Well, the name and it’s visibility is somewhat important, but I believe that a coin or tokens utility is what makes it great, that is, what is it’s purpose and how will it help us in the future? Personally speaking, coins and tokens that I have researched and believe in, utility wise, and long-term focus comprise my crypto portfolio.
Take for example one of my cryptocurrency investments called DeepOnion. DeepOnion provides a currency technology that is completely anonymous and untraceable with all transactions sent privately through the TOR network. Before I invested in DeepOnion, I was researching trends and where the cryptomarket was going, and I came across an article that mentioned 2018 as being huge for privacy coins, and that’s when I stumbled on DeepOnion. Not only does DeepOnion provide a robust utility for facilitating anonymous crypto transactions, but it also has by far the most active and vigorous community support of any cryptocurrency that I know. In fact, the website coincheckup.com gave DeepOnion a score of 90% for the following categories: Product Strength, Github, and Brand Awareness/Buzz.
So, if you are looking to add a privacy cryptocurrency to your portfolio then consider DeepOnion. As some crypto investors are saying, the entire cryptomarket is on sale, so it’s a great time to invest in what seems to be the future.
Disclaimer: As with all investments, there are no guarantees. Investors should understand all risks involved before investing. If you are considering investing in the cryptocurrency market, do your research first and make sure you do not invest more than you stand to lose.