Those who invested in the cryptocurrency craze are reaping huge financial rewards while those who did not are frantically in search for the next cryptocurrencies they can invest in quickly. If you hope to make money on cryptocurrency, you need to do extensive research to ensure you pick the winning horse. Below are five cryptocurrencies you need to watch in 2018 if you’re looking to make some profits.
1. Iota (MIOTA)
Iota was founded in 2015 by entrepreneurs Sergey Ivancheglo, Dr.Serguei Popov, and Dominik Schiener and a group of mathematicians and developers. It is currently managed by a non-profit foundation known as IOTA.
Its main aim is to provide a fast, safe, and comfortable way of exchange between IoT components. Its customers will be able to trade and buy datasets with ease. When more companies and devices get connected to the IoT, Iota should grow in demand and it is projected to increase. The most significant advantage of IOTA is that it is connected to several prominent companies including Innogy and Volkswagen. You can find more detailed information can at investingpr.com.
Cryptocurrencies are supposed to offer anonymity, but recent research suggests that by tracking transactions, it could be easy to identify the owner of the account. With Zcash you get all your deals encrypted to ensure a casual passer-by cannot identify you. Most researchers have stated that Zcash will be favored by most people since it will be able to guarantee anonymity.
3. Ripple (XRP)
Ripple was created by programmer Jed McCaleb, businessman Chris Larsen and web developer Ryan Fugger. It is seen as bitcoin’s successor due to the uniqueness. The incredible thing about Ripple is that it can be used as both a system to trade currency like bitcoins and it is currency itself. Its main goal is to facilitate overseas transfers between banks and it can connect payment providers, banks, and digital asset exchanges using RippleNet. Ripple has been adopted by more than 100 banks worldwide and recently a new hedge fund decided to be denominated in XRP.
Created by blockchain evangelist and CEO of Onchain in China, Da Hongfei, NEO is expected to blow as soon as China lifts its restrictions on bitcoin and ICOs. It is the only cryptocurrency that can compete with bitcoin when it comes to its market cap. Its circulating supply is also considerably high taking into account the fact that 65 million coins out of the total 100 million coins are already in the market.
5. Monero (XMR)
The creator of Monero is anonymous just like bitcoin. When you use Monero, there is no way someone can be able to trace the connection between the receiver, sender, and size of the transaction. It can accomplish this by mixing all the addresses of the recipients and senders online. You have the ability to know that a deal was done, but you can’t pinpoint it and know who the involved parties were.
When it comes to investing in cryptocurrency, it’s important to conduct extensive research since mistakes can be disastrous. Remember that the fear of missing out on an opportunity can lead to dangerous and rash decisions.