Cryptocurrencies have been the biggest disruptive force in the market over the last two years. The investor mania isn’t finished yet and looks set to continue into this year. Your typical average Joe with no interest in financial markets is now all of a sudden buying bitcoin online. While some people will get lucky investing in this space, the majority will lose everything once the bubble bursts.
So, as we start off 2018, it is only fitting that we look at some altcoins with strong prospects!
Ripple (XRP) is the world’s second most popular cryptocurrency with a valuation of nearly $100 billion. Since the start of the year, many have predicted Ripple will soon overtake Bitcoin as the top dog. Ripple’s creators believe they have finally found the answer to the world’s slow and expensive form of global payments. Their vision is to create a decentralized network where payments are processed on demand and at extremely low costs.
Ripple is currently in a pullback mode after rallying rapidly in late 2017. And at a price of just $2.50, it looks more affordable to traders who might otherwise perceive Bitcoin to be too expensive.
IOTA (MIOTA) is another blockchain based open-source distributed ledger launched in 2016 with the aim of becoming the preferred method of payment for machines on the Internet of Things. With a fixed supply of more than 2.7 quintillion IOTA, there is a massive room to run for this cryptocurrency, which currently only has a market cap of about $10.5 billion based on its price of $3.75.
Just like most of the cryptocurrencies in the market, IOTA’s price went on a massive rally late last year, but has since pulled back nearly 25% from its all-time high. IOTA’s unique position is pegged on the success of the Internet of Things and Big Data applications.
NEM (XEM) is another distributed ledger technology wallet that has been tipped to shake the market. NEM’s selling points are pinned on its ability to integrate with other wallets and convert nearly any asset type into a tokenized asset that can be traded in tokens. NEM breached the $2.00 mark early this year but has now pulled back to trade at just under $1.00. It market cap currently stands at $8.2 billion.
It allows developers to build whatever they need, whether its “a fintech system, tracking logistics, an ICO, document notarization, decentralized authentication, or much more.” NEM is definitely one to watch in 2018 as things could change pretty quickly based on the trends.
Cardano (ADA) is one of the few cryptocurrencies with a market cap of over $1 billion that trade at less than $1.00. At the current price of $0.55, it’s market cap stands at $14.2 billion, making Cardano one of the largest players worth following.
To use ADA, users are required to download Daedalus, a secure, multi-platform, HD (hierarchical deterministic) wallet for the Ada cryptocurrency. However, the developers have indicated that soon traders will be able to trade using Bitcoin and other altcoins.
Stellar is a distributed, hybrid blockchain released in 2014 with the goal of creating a fully open-source infrastructure to facilitate cross-asset transfers of value, including payments. Unlike many cryptocurrencies, Stellar has created a global financial network where all market participants including banking institutions, individuals, and payments networks have equal access.
Stellar trades under the symbol (XLM), across several trading platforms and has recently surged to reach a market capitalization of $11 billion. At a price of just over $0.60, it is one of the cheapest altcoins in the market. It’s unique approach to the cryptocurrency world makes it a prime candidate for a massive rally in 2018.
SALT Lending (SALT) is a revolutionary cryptocurrency that looks to disrupt the lending market by introducing crypto assets in the credit market to act as collateral. The creators of this blockchain-based altcoin believe that they can bring pretty much every form of cryptocurrency to the lending market by linking lending institutions to the cryptocurrency grid.
SALT’s price has plunged along with the other cryptos from $16 per coin to $8.00, valuing it at a market cap of $546 million.
QASH (QASH) is the product of LIQUID by QUOINE. It was created to address the biggest challenge in crypto trading, liquidity. QASH allows businesses and individuals to access finances and liquidate assets quickly. Unlike other crypto coins, QASH wants to make the altcoin market more accessible to everyone.
Since its ICO in November last year, QASH price has rallied from $0.50 to well over $4.00 and down again to the current level of about $1.50, which values it at a market cap of approximately $544 million. Any chance of rallying back to four? Well, its possible, which makes QASH one to watch in 2018.
TenX (PAY) was built to improve global transactions by allowing travelers to convert any virtual currency to the currency of their current location. TenX eliminates global trade limits pegged to currency translations as it will enable conversion at no extra cost.
TenX’s price has bounced between $2.00 and $4.00 since its ICO in October last year but is tipped to venture a lot higher this year as its popularity continues to grow. Its market cap currently stands at $250 million, which leaves vast room for expansion.
SmartCash is another decentralized framework that seeks create value for members through what it calls Smart Rewards. This crypto coin has been available for quite having completed its ICO in July last year.
It spiked early this year from $0.40 to over $3.00 but has since pulled back to $1.20, valuing SmartCash at roughly $742 million.
Steem (STEEM) helps publishers get the most from their online content. It’s is a new way for publishers to monetize their online content based on battle-tested blockchain technology.
Steem’s value is closely affiliated with its utilitarian value as a social networking platform, which will ultimately determine the success of the coin.
Steem currently trades at a price of about $3.30 with a market valuation of $820 million. However, this is following a significant drop in price recently as it hit $8.00 on January 3, 2018. There are high expectations on Steem to rally again this year as its social platform Steemit.com continues to grow.
In summary, every single cryptocurrency has been crazy volatile, and this is expected to continue. However, there are some exciting altcoins below $10 worth taking a gamble on. They are extremely risky investments, so you should only invest money you can afford to lose.