While it may be true that some people have been following digital currencies for years, the massive rise in the value of Bitcoin that occurred in December 2017, ensured that in 2018, this is a topic on everyone’s mind. Individuals and companies alike are closely monitoring any movements on the volatile cryptocurrency market and responding to every change. Some are interested in buying, while others are focused on integrating this as a payment option for their products and services. With this in mind and without further ado, here are several cryptocurrencies, other than the iconic Bitcoin, that deserve to be closely monitored in 2018.
With Bitcoin’s circulating supply being almost tapped out, a lot of people are turning to NEO whose supply is currently looking up with about 65 million coins in circulation (out of 100 million in total). While a lot of people prefer the more popular Ethereum, in 2018, the tables are quickly turning. Moreover, the passive income gathered by investing in NEO might be on a significant rise. Another reason why so many people pick NEO as their 2018 favorite is due to the fact that it originates from China, which is, as we know, currently regarded to be the Mecca of cryptocurrencies.
In the past few months, Ripple traversed from the 4th position on the list of digital currencies by market cap to the 2nd place, overtaking Ethereum and Bitcoin Cash along the way. Being described as a hybrid between Western Union and currency exchange by none other than The New York Times is no small tribute to its legitimacy. This is further strengthened by the fact that Ripple licensed its blockchain technology to well over 100 banks.
3. The ICOs worth considering
It would be unfair not to include the concept of ICO (initial coin offering) to this list, seeing as how it is an ever-growing trend. You see, prospective and ambitious developers of new cryptocurrencies sometimes lack funds to see their project through, which is why they offer their coins at an incredibly low rate, in exchange for some of the other coins, which already have a strong market value. For those who are courageous enough, there is a fortune to be made here, yet, the experts behind The Blockchain Review warn that you should only invest what you can afford to lose, seeing as how ICOs are quite risky. When it comes to the actual coins worth taking, Quark, FastCoin and Asch are currently looking quite strong.
4. Bitcoin Cash
There is probably no better way to start describing Bitcoin Cash than by saying that it is a relatively new cryptocurrency empowered by the fact it’s sharing a name with a huge brand of the industry. Still, don’t be fooled by the name seeing as how it is a rival payment network to the traditional Bitcoin. Nonetheless, last year in November, it briefly overcame Ethereum, which is more than proof enough that Bitcoin Cash means business.
Litecoin is probably one of the biggest names in the industry, as it should be, seeing as how its main goal is to become the silver to the Bitcoin’s gold. With more and more businesses opening up to accept these types of payments, it’s really no surprise that a cryptocurrency which was designed to serve as a substitute for cash is on its rise in popularity. After all, the creator of Litecoin himself mentioned that his dream is for people to use Litecoin in order to buy everyday stuff and in this way, use it in their day-to-day spendings.
As the final piece of advice, if the ways of the market seem a bit mysterious and unpredictable, you might want to take a different approach and study something a bit more familiar – human nature. Look into the team behind a certain cryptocurrency, take a look at their latest updates and determine how quick they are to fix the issues that people are complaining about. Some teams focus on solving problems that don’t require solving in the first place while ignoring the elephant in the room. Needless to say, these are the ones to steer clear of.
Dan Radak is a marketing professional with eleven years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies.