While the attention of the whole world remains transfixed on bitcoin and its meteoric rise to the top, away from the glare of the public eye, other alt coins have also gradually creeped up in value. In fact if calculated in terms of percentage rise, some alt coins like Litecoin have even surpassed bitcoin in their 2017 growth spur.
The Current State of Cryptocurrency
But most of these alternate currencies go unnoticed much like Bitcoin has for all these years. The reason? Well unless any one of them manages to breach the 1000$ a coin mark, there is no media hype created about them which means that most of the general populous are blissfully unaware of their existence.
Now this can be a double edged sword as any of these emerging coins could in the future strike out and become as big as Bitcoin but the fear remains rampant among many that cryptocurrency is just a bubble and one day the value of all these coins including Bitcoins will plummet to a fall.
While such a disastrous future seems unlikely, the opinion of most financial experts around the world are the same-the rise of bitcoin is a bubble and sooner or later the evaluation will take a sharp downward turn as the interest of investors gradually wanes. So now is not a great time to invest in bitcoin but cryptocurrencies in general are on a high upward trend and here are a few coins that haven’t yet broken into the mainstream but are on the verge of doing so!
Alt Coins That are Worth the Investment
While there are a lot of cryptocurrencies out there some like the dogecoin have dipped so massively in value that it seems highly unlikely that the dogecoin will ever be able to mount a comeback as an alt coin in the near future. But there are some others like Litecoin and Moneor that are ready to make their mark on the cryptocurrency scene and thus are ripe for investment.
- Litecoin: Litecoin has had a tremendous year growing by nearly 8,000% and one LTC is currently valued at around the 300$ mark. Litecoin has been around for a long time and is one of the most promising cryptocurrencies so an investment into it is sure to reap dividends in the near future.
- Ethereum: Ether which is one of the base units of ethereum has risen by around 5,700% this year and is now valued at around the 800$ mark. One of the main reasons that so many people are optimistic about this altcoin is due to the amount of new security and technology features that the developers have sunk into the network since early this year.
*The rates are recorded on 22-12-2017
Cryptocurrency Trading Opportunities: What Lies Beyond Bitcoin?
- Ripple: The third largest cryptocurrency in terms of market cap Ripple has amassed a huge following. While the valuation of a single coin might be pretty low as it hovers around the 1$ mark, XRP predictions peg it to rise to 240$ over the next half a decade. While the prediction might be extremely bullish, the fact that Ripple would look to be a strong contender for Bitcoin in the near future is beyond a shadow of doubt.
If none of these major players in the cryptocurrency catch your fancy, there are several other fledgling players in the market as well. Alt coins like Dash, Neo and Monero are at the nascent stages of development and mining but that just means that if you get in now, the chances of making it big are pretty high! Another advantage of going with relatively newer players in the cryptocurrency arena is that these coins in development are trying to weed out the problems of the BTC network. This means that privacy focussed coins like Monero are not only more secure, they are built to perform better and faster as far as online transactions are concerned.
How to Trade Cryptocurrency
One of the major concerns that many new investors have in this field is the security measures that are enforced by cryptocurrency exchanges. In fact the recent incident where hackers managed to steal $70 million worth of bitcoin justifies the fear that new investors feel about losing out their hard earned money to cyber criminals.
But the one takeaway to be remembered is that the blockchain technology itself wasn’t hacked it was just the securities of the exchange that the hackers managed to sneak their way past. This is why many people have begun to move away from exchanges on the whole and move towards online brokers who deal with cryptocurrency. In fact to know more on how to trade cryptocurrency, one should start looking at online brokerage firms which offer a much more safer alternative compared to most cryptocurrency exchanges.