There are still a lot of concern about cryptocurrencies volatility. With no doubt, almost all of them are growing up fast, getting better value in the respective markets as every day goes by. Nevertheless, they have been with us for a while and their behaviour in monetary plazas have showed mostly good results.
So far, Bitcoin is the most popular and the one who has the best-price value due to its stability in a long-term position. Since it was released back in 2009 it has been experiencing a slow but constant growing. Recently, though, it has suffered a bit of a depreciation in terms of trust as it was used by hackers as payment for their attacks.
However, Bitcoin still shows its strength at a rate of 1XBT = 3,497.58 GBP at the moment this article was written, reaching a record in its life-time. Even though, Bitcoin is not the favourite in the race of becoming the most valuable cryptocurrency in the market.
As Bitcoin missteps, new cryptocurrencies have arose, claiming the most famous digital money’s throne. The challenge is completed by more than 100 expected cryptocurrencies by Q3 and Q4 this year. Between them there are few with some interesting code system like Ethereum and its Smart Contract or Monero with its fast-growing rate.
The New Crypto-Players
But, as analysts say, “smart money is going to pick the smart cryptos”, and investing in tokens shouldn’t be focused on short-term position, instead it should be aiming in long-term expectations. Because at some undefined future point, a reversal from speculation to value is going to happen.
So here is what two of expert investors in cryptocurrencies have to say about investing in these digital and decentralised currencies:
Logan Kugler, Managing Partner at General Crypto. He bets for Ripple (XRP), Factom (FCT) and Monero (XMR).
For him, Ripple (XRP) shows a great strength in terms of real-time transfers with practically no fees in between. They are after an ambitious purpose: change the way we do banking today moving money as we communicate through internet, privately, anonymous, instant and free.
Factom (FCT), on the other hand, offers the promise of immutable records in the blockchain code. Factom can prove both the positive (for example X in a blockchain) and also the negative and see if a piece of information didn’t exist at a certain period in time, or whether it’s the latest version. Factom could change how major record keepers keep records and ensure eternal existence of all records.
And finally, Monero (XMR), focuses its existence in true anonymity. Enter anonymous coins (or “anon coins”), of which XMR is leading the field in privacy. It scrambles your address automatically each time, so you don’t have to worry about leaving a trail.
Spencer Bogart, Managing Director and Head of Research at Blockchain Capital, stands for Bitcoin (BTC) , Monero (XMR) and Litecoin (LTC)
He thinks that Bitcoin (BTC) has proven its ability to efficiently serve a few use cases that represent giant market opportunities. Amazon first proved it could efficiently sell things online and it focused on this ability before growing into other opportunities.
Bitcoin’s lack of privacy can get risk levels in the near future, but Monero (XMR) is a good hedge against this risk, since it’s more private than Bitcoin and therefore doesn’t have the same degree of fungibility risk.
Litecoin (LTC) is something like silver to Bitcoin’s gold. The code is so similar to Bitcoin that Litecoin is able to leverage Bitcoin’s developer network and improvements. This is a big advantage over other coins that try to build a developer community from the ground up. If anything catastrophic happened to Bitcoin, a decent portion of the capital would likely flow to Litecoin.
Special mentions by investors
Therefore, Bitcoin’s reign as the gateway cryptocurrency is coming to an end. The question is, what will replace it? Arguments, as it has been seen before, can be made for Litecoin, Ripple, or Monero. There are others, of course, like Dash (DASH), which focuses on consumer-friendliness and its flexible, decentralized governance protocol. Yet it is still unseen and unpredictable who is going to take Bitcoin’s throne.
But, among all of them, there is one cryptocurrency-like that it is not challenging others off as it blockchain system is focused on other goal, Ethereum (ETH). This cryptocurrency is seen by analists as big investing opportunity because while Ethereum won’t replace the function of Bitcoin, it will continue to play the important role it currently does as a smart-contract engine, and as a master blockchain to spawn new application tokens.
More experts opinion about investing in cryptocurrencies can be found in here.
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Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.