Top 4 Leading AltCoin Cryptocurrencies To Invest In 2018 [Review]

Bitcoin prices shocked the world yet again when they hit $10,000 on the 1st of December, 2017. Very few people expected that this currency would gain this much in 2017. For those who strongly believe that the bubble will burst soon, the current upsurge in prices is a perfect argument. On the other hand, the supporters of cryptocurrencies believe that the sudden increases in bitcoin prices means that cryptocurrencies are very viable in the financial markets. Over time, it has become evident that investing in digital currencies is a wise decision. But which currencies should an investor consider investing in? The following are the top 4 cryptocurrencies worth investing in.

1. Bitcoins

Invented in 2009 by Satoshi Nakamoto, bitcoins have the highest market capping at about $42 billion. Bitcoins are widely accepted around the world as a currency. In order to trade in bitcoins, you need to download an online wallet and generate a wallet address. This unique wallet address will be used when receiving bitcoins from another trader. Financial analysts say that bitcoins will continue to grow because they are both a store of value as well as a payment system. Bitcoins were valued at a few cents in 2009 but as of December 2017, they were valued at more than $10,000. The technicals and fundamentals indicate that within the next 10 years, the value of one bitcoin will be more than $100,000. Bitcoin transactions are stored in a public ledger using blockchain technology. Blockchain technology stores information using data chunks known as blocks. Despite the acceptance of bitcoins in some countries such as Japan and South Korea, some major dealers such as eBay and Amazon are yet to recognize bitcoins as legal currencies.

2. Ethereum

When bitcoins first hit the market, some people viewed them as payment mechanism that was specifically designed to facilitate unscrupulous transactions. There was a wide-spread belief that bitcoins were meant for illicit transactions. This is when scientists thought of inventing Ethereum. Ethereum is based on the smart contract concept. There is no intermediary involved and all the transactions are stored in a public ledger that cannot be altered. For a transaction to be successful, all the terms between the two parties must first be met. This digital currency has a wider scope, and hence greater potential. Ethereum is one of the most traded cryptocurrencies because its entry point is very attractive. As of December 2017, one Ethereum was valued at about $450. It has the second highest market capping at $35.3 billion. Due to its blockchain potential, analysts say that with this currency, a $100 billion market cap is highly possible in the years to come.

3. Litecoin

Just like Ethereum and bitcoins, litecoins are a peer-to-peer digital currency that is decentralized. People view this currency as a complement to bitcoins. As of December 2017, one litecoin was trading at $100. Apart from being cheaper as compared to other cryptos, the transaction speeds of litecoins is faster. Bitcoin transactions are not very fast because of the high number of people trading at any given moment. However, with litecoins, a transaction takes only a few seconds before its completed. Buying litecoins also costs less. With the prices of bitcoins going ballistic, this currency is being viewed as the next big thing.

4. Ripple

Ripple is a global settlement network that works in real-time. It offers an instant and cheaper option for making international payments. According to the founders of Ripple, this currency enables financial institutions to send money anywhere around the world in real-time. It promises its users transparency and lower fees. This digital currency was released in 2012 and has a market cap of $1.26 billion. Unlike other digital currencies, Ripple does not require mining. This reduces network latency and minimizes computing power usage. With a value of 25 cents as of December 2017, this currency provides a very good entry point.