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These days, many of us want to earn some cash from our home. Simply, we want to sit, work for an hour or two and still get the money we want.
Well, that’s not exactly possible if you want to really work something, but there is a lot of talking about Cryptocurrencies. Since I’m a passionate gamer, I was exasperated by the sudden jump in the price of graphics cards.
This happened exactly a year ago and it was clear that Cryptocurrencies slowly but surely began to rule the crypto world.
But, what does a graphics card has to do with Cryptocurrencies? Well, you often see people going around and buying like eight, ten or maybe fifteen of them just to use them for mining their desired Cryptocurrency.
This is a VERY expensive hobby (business) to invest, costing more than $3000 for a decent computer for mining. Fortunately, there are tons of Cryptocurrencies out there and tons of ways to invest in them. In the next paragraph, we’ll explain the mining process and how you can invest in Cryptocurrencies.
What is Cryptocurrency?
In our introduction, you’ve probably realized that Cryptocurrencies are very important since everybody’s going crazy about them. Cryptocurrency is a digital currency that you can’t “touch” or see exactly how it looks. It’s simply a currency which you can use for online purchases and convert them into your desired real-life currency. One of the most popular, Bitcoin, emerged in January of 2009 and quickly became very popular currency.
However, it was mostly used for purchasing stuff from Deep Web, which wasn’t exactly the legal and smart thing to do. But, due to its popularity, we now have several legal websites that allow you to use your Bitcoin to buy stuff.
The best of all is that these Cryptocurrencies aren’t controlled by any bank in the world!
So, if you earn a particular amount, you’ll have that amount all to yourself; no taxes, no anything that will take the money away from you, and that’s very cool, isn’t it?!
Now, we mentioned mining before. This process isn’t going to make you grab a pickaxe and go dig some holes in the ground. Instead, it’s a process where your graphics card(s) uses its maximum resources to do some complicated mathematical operations thus mining out the Cryptocurrency you want.
This process is very taxing and requires lots of power and electricity to be successful. You’ll often hear that miners usually pay a lot when it comes to electricity and that’s completely true.
But, you don’t always need to buy ten or twenty expensive graphics cards in order to get a hold of Cryptocurrencies.
Instead, you can open your E-Wallet designed especially for Cryptocurrencies, buy them from someone, and stash them in your Wallet.
This way, you just invested in your first Cryptocurrency, so you can wait for it to rise… or fall, depending on the market. Speaking of market, let’s get a brief picture of its state in 2018.
The Current State of Cryptocurrency Market
When we mention Cryptocurrencies, everyone’s just thinking about Bitcoin. However, gone are the days where the market was revolving around this currency. Bitcoin underwent a serious downfall in the last couple of months, but we can’t really predict its future. In fact, we can’t predict the future of the whole Cryptocurrency market at all! At this moment, there are more than 1500 different Cryptocurrencies that you can invest into, and that’s a pretty generous offer.
Aside from Cryptocurrencies, there is a lot of going when it comes to Blockchain technology. This technology was used by Bitcoin initially, but it’s now widely spread and there are tons of them using it. As you can’t invest in Blockchain, you CAN invest in Cryptocurrencies that take advantage of this new technology. The good news is that Cryptocurrency market is at ITS PEAK at the moment, so you can still make some cash! Let’s see what are the ten best Cryptocurrencies to invest in this year.
Ten Best Cryptocurrencies to Invest in 2018
1. Ethereum (ETH)
In my experience, Ethereum might be your best bet in 2018 and you’ll find out why in just a second. Although it’s not worth several thousands of dollars like Bitcoin, this currency is threatening the Cryptocurrency market with its steep increase in the price.
In the last year, Ethereum was worth just around $730. However, the beginning of 2018 marked a significant increase in the value of Etherum, so it’s now worth around $1430! We can clearly see that its value almost doubled since the last year.
But, should you invest in Ethereum? Of course, you should! It’s important to know that Ethereum isn’t exactly a digital currency, but more like an advanced blockchain project. Ethereum is also very versatile, allowing its users to build their own Cryptocurrencies.
You can now create your own blockchain-based solution for your business thus making the supply chain more effective. Ethereum is currently the most popular Cryptocurrency, making it very well worth your try.
2. Litecoin (LTC)
Litecoin emerged in 2011 and it also showed a great increase in value over the past couple of years. Without Litecoin, this list wouldn’ be complete! If we take a look at 2017, Litecoin showed an astonishing growth of nearly 8000%, which is simply impressive.
At the beginning of 2017, Litecoin was around four bucks and surely wasn’t worth your struggle. However, its peak value was close to $360 until it dropped to $110 in February 2018.
This drop, however, shouldn’t worry you at all. We know that Litecoin is one of the largest Cryptocurrencies with a market cap of $11 billion and many people still invest in this currency.
Litecoin is great when it comes to transaction speed, making it four times faster than Bitcoin! It’s important to mention that Bitcoin and Litecoin followed a similar way through their years of existence. So yeah… Litecoin is definitely worth your attention.
3. Ripple (XRP)
Ripple is a Cryptocurrency that isn’t worth that much. But, before you dismiss this currency, let me remind you that in 2017, Ripple grew around 36000%. And yes… you’ve read it well, don’t blame your eyes! At the beginning of 2017, Ripple wasn’t even worth a pocket change.
However, in December of 2017, it grew to almost $2.5, but its value significantly decreased at the beginning of 2018, hovering around $0.9. Let me tell you why you shouldn’t miss this great opportunity.
Apparently, Ripple is the THIRD biggest Cryptocurrency at the market. Despite its low price, this currency holds around $5 million of the total market cap, which is only going to grow.
The best of all is that Ripple is both a digital currency and a payment system. Thanks to Blockchain technology implemented here, the international payments are now a lot faster and safer. It literally takes a few seconds to complete the transaction and that’s lightning-fast if you ask me!
4. Zcash (ZEC)
Zcash is one of the most interesting Cryptocurrencies on our list. This digital currency started in 2016, headed by Zooko Wilcox-O’Hearn and quickly became one of the best currencies on the market.
Since its beginning, Zcash promised a lot and despite its growth and fall during these two years, Zcash now established itself as a big Cryptocurrency, boasting 21 million coins in circulation.
So, what makes Zcash special? Well, the fact that the payments are listed on a public blockchain is one of the special things. Furthermore, this currency is all about anonymity, which is granted if you complete the transaction with Zcash.
Your details, as well as the details of the transaction and the payer, will be completely masked. You can still get a copy of the records of payments, which is a unique feature of this Cryptocurrency.
I know you probably haven’t heard about VeChain until this moment and I don’t blame you at all! VeChain is based out of China and it’s a pretty bright option for the new investors in 2018.
Aside from being criminally underrated, it’s important to mention that VeChain holds around $1.72 billions of the total market cap. It’s three times smaller than Ripple, for example, but it’s something you don’t want to miss, do you?
Headed by Sunny Liu, this company aims to bring VeChain to a much higher level than where it is now. Furthermore, they aim to develop a supply chain solution for Chinese companies that will drastically improve their business and prevent counterfeiting. You can also invest in VeChain if you are not from China.
6. Monero (XMR)
Monero is a cryptocurrency that’s completely anonymous and untraceable. This makes it a great choice for those who want their share of privacy so they can manage their money easily.
The transactions that are recorded on the blockchain of Monero are really completely untraceable! It’s amazing how well Monero progressed since its year of release (2014) and I’m really excited to see its future.
Taking advantage of ring signatures and stealth addresses, Monero grants you a security and privacy you’ve always craved. Since 2014, Monero climbed a tall mountain, with its increase value by astonishing 1300%. I’m confident enough to say that this is a great deal!
Dash started back in 2015 and it’s a simple abbreviation for Digital Cash. So, what exactly is Digital Cash? Well, as its name says, it’s an independent Cryptocurrency platform that has a lot to offer to both newcomers and experienced users.
Since its inception, Dash underwent a serious growth, making it hold around $4.8 billions of total market cap. If we compare it to Ripple, we can see that these two are very similar.
Dash can be proud for its fast and numerous transactions every day which make it one of the best Cryptocurrencies at this very moment.
8. Bitcoin (BTC)
So, Bitcoin isn’t at the first spot… really? Yes, it’s for real! Bitcoin is one of the most unpredictable Cryptocurrencies I’ve ever seen. And you know what?
It’s not that easy to get a hold of this currency since we have a limited amount of coins scattered around. Furthermore, Bitcoin’s value is constantly fluctuating, so you can’t really tell how much it’s worth.
If we take a look just a few months back, we can see that a single Bitcoin was around $16000.
You’ll agree that this is the highest value of a Cryptocurrency. However, as 2018 began, Bitcoin showed no signs of increase and it’s now around $8500, which is almost double the less. Still, Bitcoin isn’t to be discarded, but not actually the best choice for investing.
9. IOTA (MIOTA)
IOTA is another Cryptocurrency developed in 2015. In 2018, we predict that IOTA will be one of the best Cryptocurrencies thanks to its unique Blockchain feature.
IOTA allows you to complete your transactions completely free, regardless of the size of the complete payment. Since most companies started adopting this way of payment, IOTA will be great, allowing them to send and receive an infinite amount of cash for free.
The other important thing to mention is that IOTA already integrated itself with some companies, including Microsoft and Fujitsu. That being said, IOTA is surely a fierce rival to any of the aforementioned currencies and you surely want to watch out for it. As always, the time will be the only factor!
STEEM isn’t exactly a cryptocurrency, but a social media and blogging platform that pushed itself into Cryptocurrency territory. The way it works is very, very simple.
The users of STEEM get awarded for simply writing comments, creating blogs or any kind of content in a form of tokens, which can be used for various payments on the internet. The growth of STEEM is inevitable and our expectations are pretty high for this one.
If you’ve read all the way to here, it’s time to give this guide a proper conclusion. There is a single fact that might be enough for you to start investing in Cryptocurrencies right away. It’s the fact that Cryptocurrencies are HERE TO STAY at least for a couple of years from this moment. Regardless of growth and fall, there are so many of them that we simply can’t dismiss them as they slowly take over the internet and the internet banking.
On the other side, the Cryptocurrency market is unpredictable and requires a lot of time to get into. But, if you are willing to invest some time and money into it, I’m sure you’ll benefit a lot. With the rise of the Blockchain technology that will drastically boost Cryptocurrencies, we are very excited to see how will 2018 be. Investing in Cryptocurrencies was never this lucrative!