Mid-January 2018, has seen the cryptocurrency market go into all-out free fall. Top market cap coins like Bitcoin and Ethereum have started plummeting in value. Worse, ongoing price corrections have seen the near halving in value of many altcoins.
Thankfully, market corrections like the present one do have an upside. This is because price pull-backs can allow new to market investors to finally buy into the cryptocurrency market. The only question is, which coins should new to market investors be thinking about investing in and why?
2018’s Top Altcoin Offerings - Litecoin
When compiling a cryptocurrency list of ‘must have’ coins, Litecoin (LTC) is easily a top market favorite for 2018.
Gaining significant traction in 2017, Litecoin has one of the longest-running continuous development cycles. What is more, over the past 18-months, development has focused on what Litecoin likes to call its ‘Lighting Network.’
Once out of beta, Litecoin’s Lighting Network will allow Bitcoin and other coins like Ethereum, to be transacted directly via the Litecoin blockchain. This will result in faster and significantly cheaper Bitcoin transaction processing. This being the case, anyone who believes in Bitcoin’s potential for future growth, would be wise to invest in Litecoin also.
Dash Coin - Possibly the Markets most Overlooked Altcoin
Anyone who knows anything about cryptocurrency knows that several top market cap coins are plagued by scaling issues. Bitcoin transactions currently take over an hour to confirm. In like regard, Ethereum is also starting to struggle with significant transaction bottlenecking.
Thankfully, Dash Coin is one altcoin which addressed cryptocurrency scaling issues early on in its development. As a result, the Dash blockchain can scale to automatically meet the needs of ever-increasing numbers of users.
Snovio - Where Digital Currency meets Digital Marketing
Currently priced at just $0.11 per token, Snovio is one of the newest and lowest market entry point altcoins on the cryptocurrency market. Snovio, however, also has what is arguably the most exciting (and unique) use case.
Rather than just being a form of digital currency, the Snovio blockchain allows different businesses to pool and share digital marketing information. When successful new sales leads are generated from shared data, businesses which supply information are then compensated as a result. What is most impressive about Snovio, however, is the fact that big businesses like Lego and Ubisoft, are already using the Snovio blockchain to do just this.
Cardano - Possibly About to Usurp Ethereum in 2018
Founded by Ethereum co-founder Charles Hoskinson, Cardano is arguably one of the most ambitious new coins on our cryptocurrency list.
Like Dash, Cardano has been designed first and foremost around blockchain scalability. At the same time, however, Cardano also plans to extend its blockchain scalability to other cryptocurrencies. This is because by using what Cardano calls ‘side chains,’ Cardano can facilitate cross-cryptocurrency transactions in much the same way that Litecoin plans to facilitate faster Bitcoin transaction processing.
Steem - Monetizing Online Content Creation
Looking at our cryptocurrency list for 2018 so far, it is clear that every altcoin shortlisted has one thing in common. Namely, each has a robust use case. This being the case, it should come as no surprise that veteran cryptocurrency Steem has arrived at our number one spot.
Taking blockchain technology to the online content arena, Steem allows people who publish on Steemit’s social media platform, to directly monetize content. More upvotes mean more rewards for content contributors. What is more, as content brings people to Steemit, more people start publishing and an ever-expanding community sees Steem tokens steadily increase in value as a result.
Key Things to Remember When Investing in Cryptocurrency
All coins in our top 5 investment choices for 2018 are united by the fact that each has a robust, independently verified use case. It is important to remember, however, that the cryptocurrency market itself is inherently volatile. What is more, the easiest way to lose money is to panic sell when price trends start reversing.
Given the above, if you are planning to invest in cryptocurrency in 2018, keep in mind that investors who see the best returns are those who hold, even during significant price pull-backs. This being the case, always set a definite time limit on how long you plan to invest and most importantly of all, never invest more than you can realistically afford to lose.