Best Cryptocurrency To Invest 2019 - [Right Now]
We'll go over how you can discover some of the best cryptocurrency to invest in 2019, and any preparation that should be done beforehand.
Blockchain technology and cryptocurrencies are becoming increasingly popular leaving many wondering how to invest, and more specifically, what is the best cryptocurrency to invest in, in 2019. As I write this, CoinMarketCap lists over 2000 coins available - a number growing by the day, so that’s a lot of coins and picking the right ones out can be a burden, you’ll need some information to get started and I’m going to trim that list down to just a few hand picked coins that for me have provided a solid use-case with real world applications that you’ll want to take a look at
Like any investment it’s a good idea to know what you’re actually getting into, what the technology is, use cases, potential etc. So, it's a good idea to get to know your bearings on some things, for example, do you plan to day trade, or HODL? Perhaps you want to trade in the short term, say a few months to a year? Or perhaps you’re in this for the long haul and want to just buy and play the long game. There is no right or wrong answer to these questions, only preference, though each strategy does provide it’s own difficulties. Day trading for example will require you to spend a lot of time heavily involved and micro-managing your trades, as well as patience, research on what to get and when, etc. Where as 'HODLing' is more long term, meaning you won’t trade as much and store assets for long periods of time, hopefully recurring great profits in the process as they gain value like we saw in 2017 to Bitcoin, Ethereum and most other coins.
You’ll need to consider how much you’re willing to put into it, and the number one rule is (that can’t be emphasized enough) don’t put in money you can’t afford to lose. Seriously. Don’t. You also need to consider that incase you do find yourself at a loss, how much are you willing to lose? Or oppositely, how much will you make before you quit? I myself have found myself in huge profits only to get greedy and refuse to sell out, and then miss out on that opportunity and get much lower profits or none at all. Each of these questions is extremely important and you need to answer each one before getting into it. It’s important you set barriers and goals for yourself - making realistic expectations of what you hope to achieve with the cash you’ve got and the time you’re willing to sacrifice.
We all saw Bitcoins extreme rise in 2017 to just under $20,000 before tumbling again in January and then scrawling throughout the year, leaving a lot of people at a loss who bought in during the hype. Ever since, the cryptocurrency market in general has been a little slow with highs here and crashes there but not anything as crazy as we saw in December of last year. Lots of things have happened since then, with new technology like the Lightning Network being implemented, Bitcoin applying for ETF approval not to mention the rate of adoption, we have plenty of room to grow. Bitcoin has been declared ‘dead’ 300 times yet it still remains at the top of the charts so it’s just a matter of time before we see it take off the launchpad again.
So with that said and done, you’ll be wondering what to invest to and out of the thousands of coins out there, very little are actually worth anything.
Here are the top cryptocurrencies that I think are worth your time as of January 2019
(Disclosure: I own some of these personally, that does not interfere with the opinions stated in this article.)
#14 on CMC
NEO is the brainchild of Da Hongfei, a very prominent face in the Blockchain community. Backed by the Chinese government, and theoretically capable of 10,000 transactions per second it is a very attractive coin to look into. Like Ethereum and EOS, it provides a dApps platform that allows the development of products on it’s platform meaning the coin has an extremely viable use-case other than a price tag on the end. One of it’s more interesting features is its ‘GAS’ feature. GAS is what’s used to power it’s transactions among it’s network. It can be obtained from simply holding NEO in your wallet, and whenever a new block is generated, this is then distributed among the holders of the coin. A pretty neat idea that so far has worked very well in practice keeping transactions fast and fees low.
#9 on CMC
A relatively new coin on the block but one that has made a name for itself, Cardano is a smart-contracts system similar to Ethereum with the added goal of adding banking systems and infrastructure, in the future. Their large goals require will require a lot of man power to achieve and I hope they get there, as it is a very exciting project on the surface. Cardano has been under development since 2015 and became public in September 2017.
#10 on CMC
A coin labeled in security and privacy, XMR is tipped to become one of the best security-oriented coins out there, using ‘ring signatures’ to mask who exactly was behind a transaction, unlike your average coin, makes it extremely appealing to those after privacy.
#1 on CMC
I don’t think this could even be considered a valid list without Bitcoin in it. Through every climb and every crash Bitcoin is always there at the top. It is the ‘go-to’ coin used as a base currency in many exchanges, the longest running cryptocurrency with it’s 10-year anniversary soon approaching in 2019, and according to billionaire Bill Miller, the ‘most stable’ coin. Thanks to the recent implementation of the Lightning Network - something it shares with Litecoin - low fees and fast transactions are somewhat a norm these days resulting in quicker adoption of the currency and cheaper ways of moving money around. If you have ever - or will ever - deal in cryptocurrencies or blockchain you’ll likely be using Bitcoin at some point one way or the other, from paying for a coffee at a local shop, to trading it for another coin on an exchange or perhaps paying back your friends, Bitcoin is unavoidable. It grew unimaginably in 2017, peaking at around $20,000 by December last year. Obviously, we’ve taken a tumble on the whole since then in terms of price but that won’t stop the train, and for many people it’s only given them more opportunities for them to buy in while it’s down.
#2 on CMC
In 2017, Ethereum saw explosive growth, over 3000% following that of Bitcoins. Coming in hot at #2 in market cap, you can’t really go far wrong with Ethereum. It is by far one of the most adaptable cryptocurrencies, responsible for the hundreds of ERC20 network of tokens we see today - which all use Ethereum's blockchain. It’s use case is huge and application potential unlimited. Like a couple of other coins in this list, Ethereum provides a dApps (decentralized applications) platform that other developers can use to build their own products on, which many do as we’ve seen this year with ICO’s constantly using the ERC20 network for their fundraising. The creators of the coin, particularly Vitalik, are extremely passionate about blockchain and himself is one of the most prominent faces in the industry. If you are wanting to get into cryptocurrency, you need to seriously consider having Ethereum on your roster as a ‘must-have’.
#7 on CMC
Litecoin is very similar to Bitcoin, so much so, it’s often said that it’s Bitcoin’s close sibling, or the ‘silver’ to Bitcoin’s ‘gold’. They share many traits, and the tech that Litecoin uses is extremely similar to that of BTC and the whitepaper for Bitcoin generally covers that of Litecoin. LTC is a great contender for your money. It has a cap of 84 million coins, and is used in the modern Lightning Network for ultra-fast transactions. Having been around for 7 years now and consistently impressing the community with it’s stability, it’s clear that it isn’t going anywhere. A true contender for a long running coin, especially considering it's even being natively implemented into a smartphone later this year.
BNB Binance Coin
#16 on CMC
If you’re familiar with cryptocurrency exchanges the name Binance won’t be anything new to you, but if that isn’t the case let me introduce you to what is regarded by many as the preferred exchange for trading on, and also one (if not) the biggest out there. Their Binance Coin token allows for reduced fees when trading, at a 25% discount. At the time of writing it’s daily volume is sitting pretty at just over $1 Billion USD.
Considering the volatility we have faced this year in the market, Binance has stood strong and tall as one of the most stable coins throughout. They also do a ‘Binance Coin Burn’ every quarter to keep the population of tokens in check, eventually planning to burn a total of 100 million. If you are a regular trader and in need of an exchange to use I would highly recommend Binance to be your choice and you can sign up for an account here.
#5 on CMC
EOS is a relatively new coin on the block launched initially this year in January, but that should not dissuade you. They provide an architecture for people to build upon dApps (Decentralized Applications) which looks very promising and has received praise from many people in the cryptocurrency community. I would highly recommend reading through their whitepaper or website and checking out the token, it’s definitely one to consider for your personal portfolio.
So that’s it, some of the best coins I think that you could get into this year. Of course, there are plenty of others out there, but the vast majority of them probably won’t be worth your time nor will they survive in the long term. Some of the coins I put above are coins that for the most part are pretty sound and are unlikely to disappear anytime soon, so low risk. If you’re after some high-risk high-reward investing I advise you to select a few low-price coins on CoinMarketCap, put in some money, even $5 is plenty, and leave it for a year to see where you’re at. As always, remember to do your own research before actually investing in crypto, I don’t take responsibility for anything you choose to do based on your reading here. And lastly, don’t put in more than you can afford to lose! Let’s see what this December holds for us.