Crypto-currencies; the way of the future!
Are you among the 99% of the population who has never heard of Crypto-currencies, or Bitcoin?
These crypto-currencies, or crypto's as they are often referred to, are a payment system tied to the internet which is an alternative to country based currencies & the associated big-brother government oversight.
Bitcoin, the most well known crypto, has risen in price from less than 1c to almost US$3000 today per Bitcoin.
There are more than 700 crypto-currencies out there, many with unique features, which range from 'fast processing times', to 'high security'. They can be used to buy goods online, or also used like a normal credit card to buy goods at physical brick & mortar stores.
People are investing in crypto currencies at a breathtaking rate, with the combined crypto market capitalisation currently in excess of $100 billion. Why are people moving their money into cryptos? One of the big reasons is that governments can just keep printing their paper money to infinity. The general public are waking up and now looking for a store of value which won't inflate away to nothing.
We don't believe you have missed the boat on crypto's - in fact some are still trading for very small market cap's.
Sorting the junk from the very useful crypto trading coins can be a tricky job- but we believe we've uncovered a couple of useful coins you should look into.
Anonymity is a feature that has somewhat been overlooked in the crypto market, as more and more people prefer to keep their money outside the government based fiat system. The 2 coins which prominantly feature Anonymous Crypto technology are Monero Coin & Cloak Coin.
Monero's technology in our opinion is not as advanced as Cloak Coin, but Monero has had great publicity and caused the coin to sky rocket already. Monero with a market cap nearing $1Billion is a useful coin, but we don't see a lot of upside.
Cloak Coin, with a very modest market cap of $25Mil, also features anonymous technology and has been flying under the radar for quite a while.
Cloak features 'Enigma' technology, which means your transactions are not stored on a ledger like Bitcoin, so you can buy/sell whatever you like without big brother watching. Cloak has also recently released a new wallet storage system for your coins, making them easier to keep track of.
Is this a coin for money laundering? We don't think so - more just for people that are conscious about their privacy.
The code for Cloak has been fully re-written & audited. A month ago it was announced it was going Open Source. Clif High, a respected youtuber, also announced in an interview recently that he was a fan of it. Our pick, Cloak Coin, can be exchanged for bitcoin on either livecoin.net or bittrex.com
The price of Cloak we expect will most likely skyrocket when people realise the potential of this coin & when it is also added to additional trading exchanges.