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Which Cryptocurrency Should You Invest In?

 

March 9, 2018 (Investorideas.com Newswire) In recent years, cryptocurrency has become a trending investment asset and payment method. Now, more than ever, investors are interested in investing in these types of 'virtual' currencies.

But which should you choose to make the most out of your investment?

Below, we'll discuss 4 different cryptocurrencies that are great for investing in:

1. Bitcoin

The most well-known cryptocurrency around, Bitcoin was established in 2009 and has enjoyed a number of explosions in value, as well as a few drop-offs. For example, a recent recovery meant it rose above the $17,000 mark but then fell below $12,000 within a few days in mid-December 2017. Therefore, you need to be careful when investing in this currency because of its volatile nature. And it's also worth looking at which countries Bitcoin's legal and illegal in.

That said, Bitcoins are now accepted in a wide range of industries, including the gambling industry for online casinos such as those reviewed here, which bodes well for its usage and popularity.

2. Ethereum

Even though this cryptocurrency has yet to get to the heights that Bitcoin has, many experts argue that it does have the potential to overcome the dominating cryptocurrency. Equally, despite some investors being put off by how initial coin offerings (ICOs) are regulated, others see this issue as being insignificant and not relevant to the value of Ethereum.

Furthermore, Bloomberg recently placed the co-founder of Ethereum, Vitalik Buterin, in the top 50 of the world's most influential people. Buterin also shared some of his plans for Ethereum, which included developing the cryptocurrency even further over the next year or so. And that's perhaps why the number of transactions carried out for Ethereum has surpassed Bitcoin.

3. Litecoin

As far as alternatives to Bitcoin go, Litecoin looks as though it's one of the most preferable. Having been designed to iron out some of the cracks in the original protocol for Bitcoin, it was one of the first altcoins available.

Litecoin was first introduced in 2011 and its features are very similar to Bitcoin. And although it might not be as innovative as the aforementioned Ethereum, experts suggest it still has plenty of potential.

Why?

Because user adoption establishes the value of this coin, and there's far more transparency with what's going on behind these scenes with this cryptocurrency. Charlie Lee, an ex-Google employee who created Litecoin, is always posting on social media about the updates they're carrying out, which is a welcome feature for many investors.

4. Ripple

A cryptocurrency that's constantly fighting with Ethereum for second spot is Ripple, and according to latest statistics, Ripple has the potential to be bigger than Bitcoin if it reaches $7.This only requires a rise of 164 per cent, which may seem a lot, but considering it rose by almost 36,000 per cent last year, it does seem quite achievable.

The future of cryptocurrencies does look promising, particularly as more and more people are looking to invest in them and the awareness of them continues to grow. In fact, a recent report even found that 30% of millennials would rather invest in cryptocurrencies than stocks or government bonds.

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