Choosing where to invest your hard-earned money depends on your goals and also your appetite for risk. Do you want to invest for preserving your money in the first place or something else? Then Bitcoin and Litecoin might be right for you. Even though Bitcoin is still the dominant cryptocurrency, it certainly has not monopolized the market after all.
The crypto world continues to grow. The total market cap of crypto currencies now stands above $160 billion, up from near $90 billion at the start of August and up from $66 billion in mid-July during investor anxiety about the Bitcoin hard fork and/or a correction from the enormous rise in early 2017.
Do you hope for big profits in the long-term? Then Bitcoin and Ethereum should be considered first, despite some believing that Bitcoin reached its oversaturation. Do you want something accessible and cheap? Ripple is here. Do you want something functional and profitable at the same time? Bitcoin is by fire the best choice. Do you want them all together? Bitcoin — it can safely play different roles.
Litecoin, is based on the same technology as bitcoin, but is deemed to be faster and cheaper. This can emerge as the more usable, and thus more valuable type of currency in the future.
Litecoin is for those who look for stability, but don’t expect it to grow at a high pace like Ethereum or Bitcoin. You can’t invest in it expecting it to increase by ten times. It may happen in theory, but it’s not that probable. Litecoin doesn’t get the media attention, and the latter is important, believe me. Litecoin is more accessible for miners, so it can be a good approach for you.
Ethereum is an open-source network. It is far superior to any other blockchain network. Its growth is also accelerating at a very fast rate. If you had bought Ethereum in February, you would have tripled your investment by now. At Ethereum’s current growth rate, $500 dollars can be expected in the near future. Digital currency analysts think that we could see $500 before the close of the year.
In the long-term, the currency is projected to enter the thousands. That means if you want to get in on this investment, you need to buy now.
Ethereum was very promising…until the crash from June. A problem occurred at the GDAX exchange, and Ethereum lost 99.99% for a few minutes. Since then, it cannot update its record. But experts say its market cap should exceed the Bitcoin one since Ehtereum is more functional than Bitcoin — it has the smart contracts and all the innovative stuff. This means that every time you buy Ethereum, you are putting money into the most powerful network that currently exists. And the potential for that network is endless.
As a whole, digital currencies have a lot of selling points. They are fast, effective, secure, and hyperinflation-proof. But the main selling point remains the keystone technology for digital currencies: blockchain.
Ethereum’s blockchain is even more advanced than that of bitcoin’s – which says it all.