5 Best Cryptocurrency Investments for 2017steemCreated with Sketch.

in cryptocurrency •  2 years ago

With a gigantic derivatives bubble that could burst at any moment and a national debt that continues to grow so fast it will never be paid back, it is no wonder that people are seeking investments outside of the US stock market and the US dollar. This may be one reason that cryptocurrencies have become an enticing solution and for some a very lucrative investment in recent years. Here are my top 5 cryptocurrency investment pics that I believe are poised to do well in 2017.

Having an edge in anonymity, security, liquidity or functionality are some of the key factors that have lead me to believe that each of these cryptocurrencies have a future and are worth taking a look at for investment. That being said, please do your own research before investing in anything. Based on my research and experience trading on Poloniex over the last few months, these are my top 5 favorite cryptocurrency investments for 2017. These are my opinions and do not reflect the opinions of anyone but myself.

  1. Bitcoin has become stable enough that it is a safe investment even for large investors. This is enticing traders to hold large amounts of bitcoin and use it to trade alt coins on Bitcoin exchanges like Poloniex. This is what I do, so technically my largest crypto investment is usually in Bitcoin.

  2. Monero is currently second only to Bitcoin in volume on Poloniex. Monero is popular as an anonymous coin allowing for enough privacy that it has become the coin of choice on the dark net.

  3. Steem has recently sky rocketed to top ten in volume on Poloniex on a couple different occasions and I think the next time it does it, it will be there to stay. The price of Steem will largely depend on the success of Steemit.com but that's why it is in my top 5. Steem is revolutionary in that it is created not just by mining but also by blogging. Time will tell if this will be a successful model, but with the rise of sites like facebook, the "attention economy" could potentially support this coin into an even brighter future.

  4. MaidSafe is another coin that could have a bright future based on a solid idea. MaidSafe has created the SAFE Network which is a decentralized network with features provided to make it a safe, crowdsourced internet.

  5. Dash is another pick for it's anonymity. Previously Darkcoin, Dash employs a "transaction mixing" technology that allows for an added layer of anonymity. It's volume and acceptance also make it appealing.

All 5 of these coins are now traded in sufficient volumes on exchanges like Poloniex to make them eligible for investment by my standards. The altcoins also have enough volatility that I not only have long positions on the way up but immediately switch to shorts on the way down sometimes. Because they are solid cryptocurrencies in my opinion, I never have a short position for very long. Steem is the only one that is not currently in the top 10 by volume or available for margin trading but Bitshares is available for margin trading so maybe Steem will also be in the future.

sources:
http://monero.org/
https://maidsafe.net/
https://cointelegraph.com/news/darkcoin-is-now-dash-and-not-a-moment-too-soon
https://poloniex.com/

my previous article on trading cryptocurrencies:

https://steemit.com/steem/@richardcrill/what-i-have-learned-so-far-trading-cryptos-and-why-i-love-steem

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5 Best Cryptocurrency Investments for 2017 — Steemit

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Disclaimer: I am just a bot trying to be helpful.

The question for me is if Monero and Dash are more anonymous, why doesn't the IRS go after them instead of just an exchange like Coinbase.

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Good question. I wonder if it's just a matter of technical difficulty?

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The quality of being decentralized is what makes it hard for the IRS to target a coin itself. Who does the IRS target? Coinbase, by comparison, as a centralized point of coin conversion is like a fat prize waiting to be taken. Coinbase will feign obstruction of the IRS moves publicly, while cooperating privately. It doesn't really have a choice. That's my two cents anyway. :-)

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Valid reply.. and it may not be the IRS, but I am sure some 3 letter agency is working to kill Bitcoin and the rest.

I agree with 4 of your picks, and I don't disagree with your MaidSafe pick - I simply haven't researched that one enough yet.

Dash is potentially going to be the "real world" use crypto ahead of Bitcoin someday, but it remains to be seen if they can meet their lofty roadmap goals. I hope they can. It's an exciting project.

I own 4/5 of those :)

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Is MaidSafe the outlier here?

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No, Dash actually. Nothing against it, just haven't actually looked into it.

MaidSafe is my second favorite one (next to STEEM of course). It is a huge project, and it's biggest risk (IMO) is not being able to get off the ground. If they can make it happen though, I think the potential is tremendous.

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I agree with you, very good reward vs risk for Maidsafe

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No, just checked it out now. Very cool! :)

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Maidsafe network is like internet 3.0, It very complicated, but when it happen it will be the top.

I'm trading alt coins myself, and have a voracious appetite for information which can inform my trades. To have that appetite sated on a medium built on cryptocurrency is the perfect storm.

I have some of all of the above. Monero is my favorite due to volume on the exchange. DASH is the one that I think will become as successful as Bitcoin. The governance structure of DASH is an interesting feature, especially when we look at the current blocksize controversy dogging Bitcoin.

Do you keep your investment in the exchange or you keep in a safe wallet ?

I'm an active trader. Thanks for sharing