It has been a good year for Bitcoin. Although the technology is relatively new, digital currencies are already making waves in multiple industries. The increase of the demand has increased the prices significantly and many obtained good benefits when investing in Bitcoin and other cryptoactives. But, you wonder what is the next cryptocurrency to invest in 2018 besides Bitcoin?
Hitesh Malviya, the cryptographic consultant behind ItsBlockchain.com, says that bitcoin is obviously the ideal place during bullish bursts like the one we're seeing right now, but, in the long run, big cryptos profits are found elsewhere .
"The altcoins industry is new and will take at least a few years to become the mainstream," adding that "we can see many alternative currencies that increase up to 10 times their value, such as Bitcoin during this year."
But with more than 1,300 alternative coins to choose from, it is not an easy task to discover potential winners. Tung uses four basic principles to determine which altcoins deserve more attention:
Study the team that is behind: Where do they come from? Have you been involved with another cryptocurrency before? Are they backed by someone, and what kind of experience do they bring? the altcoins that have done better and have the highest market capitalizations are those that have the most capable teams
A look at why: How useful is this? Are you trying to solve a problem that does not need a solution? Some alternative currencies that come to the market are simply ridiculous
Determine in which phase the project is located: I look at the altcoin roadmap and see how far they are from reaching the proposed goals. Do they have a test network (test-net) or a beta? Are new functions being released? Is there a likelihood that soft or hard forks will occur? "
Evaluate the valuation: Given that alternative currencies tend to exaggerate their future success to increase their initial value, I look at the current market assessment and see if they are well valued. Many altcoins are simply too expensive and I tend to stay away from them
With this in mind, analysts have said it is worth observing in 2018. Like Bitcoin, all cryptocurrencies are subject to extreme volatility and risk, so if you intend to invest, it's worth doing it properly. diligence, and inform yourself of it.
The first blockchain backed by a "scientific philosophy"
Capitalization of the market: $ 22,656,915,058 USD
Price (09/01/2018): $ 0.873871 USD
Creator: Input Output Hong Kong (IOHK)
Tung believes that "this new generation platform has the right equipment, dedication and money to create a real contender for Ethereum."
Cardano blocks chain just launched a few months ago and exploded on the scene with huge gains in its currency, called Ada, in November to enter the top 10 cryptocurrencies in terms of market capitalization. At the last minute, he had slipped to position 13.
The project began in 2015 and was called the first blockchain network supported by a "scientific philosophy" and built by leading academics and engineers through peer-reviewed research.
Cardano, while still relatively unknown, is apparently important in private transactions and responds to the needs of regulators, which prepares him for mass adoption. Its CEO, Charles Hoskinson, says that Cardano addresses issues of "sustainability, interoperability and scalability" so that the cryptocurrency can go from being a "fun novelty" to something that can be used by billions of people and interact with legacy financial systems . Cardano is still in its early stages (what the team calls its "start-up era"), and the next phase of its roadmap will be launched sometime in the second quarter of 2018. That means its framework remains developed, and it can take time for it to become the smart contract platform that its leaders imagine.
About 26 billion of a maximum of 45 billion Ada coins are currently in circulation. Are you willing to invest invest?!