Cryptocurrency has gained traction in the mainstream market since Bitcoin began in 2009. The buzz is even harsher when the price of a single Bitcoin passes $ 11,500 or equivalent to Rp 164 285,714 last year. The online search for cryptocurrency and its shape also increased in the same year.
If you buy Bitcoin for $ 100 in 2011 - when it's trading at 30 cents per share - your investment will be around $ 3,357,965 on February 16 this year.
But note, the bitcoin value is on a downward trend now.
Investing in Bitcoin and other cryptocurrencies, in this case, still has risks.
First, the internet currency trading is a highly speculative activity because ups and downs do not follow a specific pattern.
Second, the market is not regulated.
And thirdly, transactions are done anonymously so they can not be traced and are beyond the control of the government.
If you want to invest in cryptocurrency, be sure to build a diversified portfolio. There are seven digital currencies other than Bitcoin that you are worth investing in.
- Ethereum (ETH)
Ethereum actually refers to a blockchain network where miners work to get Ether, a tradable crypto token.
This crypto token drives the Ethereum network, developed by computer programmer Vitalik Buterin. Since it was founded in July 2015, Ethereum has increased its value to 13,000 percent.
Ethereum has the second highest market capitalization today, in addition to Bitcoin.
- VeCoin (VEN)
This Chinese-derived platform is renamed and now into two currencies, namely, VeChain Tokens (VET) and Thor Power (THOR).
VET works like a Ethereum network. Before you invest, check VeCoin's performance. Although not spared from the massive price reduction in the cryptocurrency market, this VET will quickly rise again.
- Ripple (XRP)
Ripple has consistently been one of five crypto currencies based on market capitalization over the past years. But what may have pushed it onto the world stage is due to widespread use by companies including leading institutions such as MIT.
A ReviewsXP article reported that a startup called Omni has recently raised $ 25 million through Series C and D funding using ripples rather than regular cash usage.
- Litecoin (LTN)
The release of the peer-to-peer digital currency is credited to a former Google employee named Charlie Lee. Coins are similar in technical detail to Bitcoin. It becomes one of the top five cryptocurrencies by market capitalization when its value is soaring towards the end of 2017.
Not only that, Litecoin makes 45 percent of the aggregate cap of all the virtual coins and is the most traded currency to date, said Motley Fool.
- Dash (DASH)
Portmanteau digital money, Dash is considered a better alternative (hence, altcoin) to Bitcoin. In June 2017, they recorded daily trading volume of about $ 100 million. The DASH fell to sixth position among the top cryptocurrencies, having reached market capitalization of $ 4.8 billion in the same period.
It is much talked about in forums as well. But most importantly, it aims to solve the problems that have slowed Bitcoin, like the speed of transactions. It takes four seconds to confirm a Dash transaction compared to 10 minutes of Bitcoin or more.
- IOTA (MIOTA)
Positioned as a more scalable blockchain version, IOTA is characterized by a lightweight, unblocked ledger. One of the more interesting features is to allow you to transact or transfer value at no cost.
Looking at the statistics in November and December, IOTA is currently ranked 10th in the market capitalization of CoinMarketCap and is worth your investment.
- Steem (STEEM)
Steem is a token that spins inside Steemit, an online content platform that has used blockchain technology.
In Steemit, you can receive payments in online currency - Steemit dollars and tokens - by generating content such as blogging and commenting.
Therefore, Put Steem in your list of investment list, buddy because it is expected this digital currency will be widely used as payment method in the near future.
In conclusion
Investing in cryptocurrency is a fairly new way of making money, and there are more retail investors than investors