Best Cryptocurrency Investments: 2017
Today, technological advancement has brought us to a point where we have electronically generated currencies, known as cryptocurrencies. Unlike all the currencies in the world, cryptocurrencies are neither printed nor controlled by a single government and are used all over the world.
Bitcoin, the first cryptocurrency ever, was invented by Satoshi Nakamoto just for the sole purpose of making online transactions simple and instant.
However, revolutionizing online transactions has been taken a bit further as people now use cryptocurrencies for gambling and investing and actually make a lot of money through these mediums.
Based on complex mathematical formulas, there are a number of cryptocurrencies you can buy and sell online. Investing in these currencies has become a good money-making opportunity, especially in 2017 as there have been record breaking hikes in the currencies.
You can see a recent list of the largest crypto coins by market capitalization. Start there as a reference point.
If you are looking for something that can help you make money faster, you should consider joining investing in this currency. But it would require you to do a bit of homework and a lot of research. Here are some of cryptocurrencies that are currently the best options you can go for if you think you are ready to invest in virtual currency.
Since the launch of cryptocurrencies, Bitcoin has been the most important and successful virtual currency in the world. Not very long ago, the currency experienced a substantial hike and is expected to increase. While the price of the currency is expected to go over $1,000 by the end of 2017, the chances of it dropping below $500 are negligible.
This means the risk profit ratio is quite impressive. It is much safer to invest in Bitcoin. If you are planning to invest in Bitcoins, this is probably the best time. Sure other cryptocurrencies might offer you greater profit margins, but there is no cryptocurrency that can possibly offer you an investment as safe as that of Bitcoin’s.
Ethereum is another crypto-currency that has become a good investment opportunity as in 2017 the currency’s price has increased by 300% and reached its all time high of $54. Experts say that the price of the currency will increase to $100 by the end of the year. This means it could increase by an additional 100%.
Ethereum is one the newly launched cryptocurrencies that have reeled in some of the biggest online investors in the world. This is a great time to invest in this currency as a majority of people are still not aware of it and the moment this currency becomes a bit well known, you can be sure the prices will shoot up.
DASH, the third most powerful and widely used cryptocurrencies, is another option for those looking for investing in virtual currencies. The currency’s price reached its all time high of $116 in March 2017 and is estimated to spike to more than $200 by the end of 2017.
The prices of the currencies keep on fluctuating both mildly and vigorously. Therefore, if you plan to invest in any, you have to constantly keep a track of the prices and make your decision accordingly.
Litecoin, Monero, Bitcoin Cash
There are many alt coins coming to the scene, some more visible than others. Bitcoin is the largest most prominent however the next wrung of alt coins are worth exploring. Market cap is important, price is worth looking at, most importantly understand the ins and outs of how the alt coin works. Use your discretion when selecting another cryptocurrency to invest in.
The best cryptocurrency investment is not purchasing a single cryptocurrency. Altcoins are notoriously volatile. It requires not only skill, but luck and fortitude in holding. It is smart to allocate risk proportionate to one’s investment thresholds.