July 21, 2017 (Investorideas.com newswire) The last decade has completely transformed how investors look at alternative investments. In addition to those of yore (currency exchange, real estate, private equity, etc.), modern investors have access to a wealth of new and intriguing options. None is more intriguing than investing in cryptocurrency, which is far less volatile than Forex trading.
Cryptocurrency refers to the digital currencies that are available for mining, purchase, and sale online. Like traditional currencies, there are different types. Unlike traditional currencies, cryptocurrencies aren't aided or backed by banks. If you aren't intrigued by cryptocurrencies, you should be because they offer some realistic ways to quickly grow wealth. Here's a bit of information about a few of the more popular cryptocurrencies, what they're valued at and what the analysts are saying about them.
Next to Bitcoin, which you've probably heard about by now, Ethereum is the second most popular cryptocurrency. It may someday become the gold standard because it's banked by some powerful technology and financial organizations, including Chase, JP Morgan, Intel, and Microsoft.
It's a lot cheaper than Bitcoin, which makes it valuable to new investors. The CEO for Genesis Mining, a company that simplifies ethereum mining, said "We believe it is headed to the moon and we are building a rocket ship to make sure our customers do not miss out."
So, mine it or buy it, ethereum will remain a safe investment for now, and it likely to show returns. How significant those returns will be remains to be seen. Analysts predict ethereum coins will cost between $224 and $336 throughout the second half of 2017. Price points should remain steady until demand picks up.
Bitcoin remains the most valuable cryptocurrency. Although it's price fluctuates, a single coin was worth $2,374.72 at the time of this writing. Analysts predict its price will continue to climb up and up, but how long it will stay valuable to sellers is unknown.
In June 2017, it briefly cost $3,000 but quickly withdrew into consolidation mode. Nasdaq reports that both Bitcoin and Ethereum will both "continue to push all-time highs (ATHs) by most available metrics: price, market capitalization, daily traded volume, hash rate, transactions per day, etc." If you're lucky enough to mine an entire coin, you could sell it at one of its highest selling rates ever.
Dash charged like a bull into 2017. Its price increased to $100, which is a 2500% increase from its previous price of less than $4. It's popular because it allows for instant transactions. Other cryptocurrencies make you wait minutes (sometimes hours) for your transaction to clear. It's privacy features, sort of sandbox design, and advanced mining make it a true standout.
Although popular, analysts report that Dash is not without its criticisms. Coding errors resulted in 1.9 million coins being minded in 48 hours. At least, this was the excuse Dash's core developers used. Some suspect they created the error on purpose to pad their own pockets.
Litecoin costs a lot less than the other cryptocurrencies, and there's an upside to trading it. It had a steady cost of $44 per unit for a few months now, and in May analysts predicted that Litecoin would make a push to $50.
For this final suggestion, a quick turnaround buy-and-sell could yield a significant profit. Or, you could hold onto it and wait for the currency to go up. Litecoin probably will go up, it's simply hard to know by how much. That's true of all the currencies. And, although there are many more cryptocurrencies, they all essentially function the same.
About The Author:
Jane is a online freelancer who has worked on writing projects for fun and work since college. Jane's education comes from the John Cook school of Business at Saint Louis University. Whether it is writing about online business and digital marketing which she is heavily involved, Jane also likes please pieces about history and education when she can write about more open ended topics! Reach out at email@example.com anytime!
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