Each week, I'm going to be doing an update on the various cryptocurrencies that I'm currently invested in. I'd also like to open up a discussion on what cryptocurrencies you're holding and why.
I think it's useful to have these discussions so we can not only discover new coins, but also learn more about the fundamentals of the ones we already own.
What's In My Portfolio Right Now And Why:
BTC
I know many people think Bitcoin is dead but I still think it's good to hold at least a little bit. It's got some of the biggest advantages going for it. It's the most well known cryptocurrency out there. It's got the strongest security record of any Crypto out there due to it never being hacked.
If Lightning Network, the technology that is promising to greatly reduce transaction times and fees, is a success then I think anyone holding Bitcoin will be extremely happy in the long term.
LTC
I own a good amount of Litecoin but I must admit I'm not as bullish on this coin as I used to be. With Bitcoin currently dealing with long transcation times and fees, LTC does fit within Charlie Lee's vision for the future where LTC is treated as silver to Bitcoin's gold. But if lightning network does end up saving Bitcoin from the current issues it's facing, I'm not sure where LTC stands long term. I will probably be transferring some of my LTC gains into other coins in the future.
ETH
I am starting to get very bullish on ETH long term. You simply need to look at how many tokens run on the Ethereum blockchain to see how important this platform is in the crypto space. Upcoming developments have the potential to greatly improve upon the underlying technology as well.
NANO ( Formerly XRB/Raiblocks )
Of all the coins I own, I'm probably the most bullish on this one. Nearly instantaneous transaction times and it's completely free. No fees when sending or paying with NANO. And the best part? It's already working. This isn't some "maybe down the line it will work" technology. You can actually buy some NANO and experience the fast and free nature right away.
As far as I know, there are 0 other coins out there can also advertise being this fast in addition to being free.
Pictures are nice to breakup text once in a while :) I also think NANO deserves its own picture
OMG
This is a token that enables peer to peer currency transfers and payments. One of the main reasons I like this coin is because the underlying company which developed it. Omise is company that is already fairly well established in Asia. If Omise can successfully incorporate OMG into it's payment gateway platform, I see a very bright future for this coin.
NEO
I own NEO for similar reasons that I hold ETH. There are some key differences but it also at the forefront on blockchain technology and another key differentiator is that this coin is backed by the Chinese government. Always a good thing to have in your resume.
XRP
Ripple is another coin that people love to hate on because it's known as the coin created by and for banks. I'm really not too concerned about the various ideologies people hold with regards to this coin. However I do like the fundamentals. It is already well entrenched with several financial companies with more and more deals being announced seemingly every week. I see good things on the horizon for Ripple.
XLM
Stellar Lumens is somewhat similar to XRP in terms of its purpose. It also has some similarities to NANO due to its fast transaction times. It also has extremely low fees. I'm not as bullish on this coin as I am compared to NANO or Ripple but I still see lots of growth for it in the future.
REQ
Request Network is often said to be competing with services like PayPal. It allows its users to request payments in a decentralized manner. I can't even count the number of times I've heard people asking for a replacement due to PayPal. Or some PayPal horror story about people having their money locked in PayPal. Having a decentralized way to invoice people and other parties would make those complaints a thing of the past. I see a very real world use case for REQ.
ADA
This is definitely one of my long term plays. Dubbed as the "Ethereum Killer" by many, this coins biggest claim to fame at the moment is the sheer number of researchers and developers working on this project. The project, whitepaper, etc. has supposedly been peer reviewed by teams of PHDs around the world. That being said, this coin is in its very early stages still and it may be awhile until we see the supposed advantages fully working.
ICX
ICON seeks to let people, companies, governments and other organizations to perform transfers and payments without relying on a intermediary. One of the main advantages of this coin is that other blockchains will be able to connect to the ICON blockchain. This would help achieve their goal of removing any middlemen from the equation. ICX already has a lot of partnerships with big banks in Asia which is good sign for the future.
VEN
Vechain aims to provide a platform for products and information. Vechain can help verify the authenticity of items that you buy thanks the power of blockchain. Vechain already has some big partnerships in place with governments and banks in Asia. Keep a look out for this one.
NAS
Nebulas is probably going to be the least well known on this list. It's aim is to be the "Google of blockchains." What this means is that it wants to provide a platform that will let you search for information that is spread across all the various blockchain platforms out there. NAS is still very early on it its lifecycle but one of if its big claims to fame is that one of the founders is Hitters Xu. You know, that guy that helped create NEO?
ETN
Of all the coins I own, I am by far the least bullish on this one. I essentially got guilted into buying some thanks to some friends 😄 Electroneum is a fork of Monero that aims to be the token of choice for things like gaming and gambling. It's the worlds first "British cryptocurrency" and it aims to be make cryptocurrencies much more accessible to things like a "mobile mining app".
It all sounds nice in theory but I honestly remain fairly skeptical of this one long term. The only real saving grace I see here is that this token seems to have great marketing. Which may just be enough to gain adoption long term.
STEEM
The latest investment I've made, although I haven't actually put any money into this one. Rather, I've invested my time instead. Steemit has made me a true believer in this technology and I honestly think it may be the best real world example of the power of cryptocurrencies!
What's In Your Portfolio?
What's in your cryptocurrency portfolio? Got any recommendations for coins and tokens that I am missing from mine?
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Please remember this all just my personal opinion and not financial or investment advice. Do your own research before spending any money or making any decisions.