You have to be living under a rock not to see the potential of cryptocurrency and not be frantically looking for which cryptocurrency to invest in. Luckily for you, I’m here to remind you that blockchain has the potential to change money and business and a lot of other aspects of our lives that we don’t even know yet. 2018 was a bad year for cryptocurrency, but I believe the bearish market is behind us, and investing in cryptocurrency in may be the wise thing to do if you ask me. Today’s article is based on my opinion on which cryptocurrencies I think are the best to invest in. I hope it helps you out.
Why am I Investing?
Before we go on to analysing which cryptocurrency is best to invest in you may be asking yourself “ well why should I invest this cryptocurrency anyway?” most people,(usually beginners) invest in cryptocurrency because they see other’s getting massive gains and making money; and it seems so easy. It is not! However, if you take the right steps and do your research, you could be that person others envy. But before you can get there you need to understand that it is not all red roses from beginning to end, there is risk involved.
Some of these risks include ;
It is not cryptocurrency if it isn’t volatile. The price of a cryptocurrency can go up 20% in just one day, but it can also go down 20%, and that would be normal. It is a big risk, but that’s what makes it possible to make a profit in the first place. A single cryptocurrency can also decrease in value of 80% in a year, so you have to be aware that it can happen and you are willing to take that risk before investing.
Blockchain technology is still growing, despite it doing great. Some may even say it is still in its early stages of development; which makes it somewhat vulnerable. It has not happened yet, but in case flaws are discovered, later on, you need to keep that risk in mind.
Stay away from unrealistic offers! Because whether we like it or not scammers have found a home in cryptocurrency, so be aware of scammers when making your investment decisions.
Here are my top 5 picks on which cryptocurrencies to invest in 2019
1. Bitcoin (BTC)
Although Bitcoin may have had its worst year in 2018, it remains the King of all cryptos. BTC might have the oldest technology institutional investors gravitate toward it, and it has very good security as well. With institutions investing in Bitcoin, its value may even go up to $50 000. Even though it is becoming more and more crowded with competitors bitcoin has a lot of room to grow massively in the coming years, and you might want to be a part of that.
2. Ripple (XRP)
It has been a long time coming. However, Ripple has fought its way up to becoming second to bitcoin by market cap. And if you are looking for which cryptocurrency to invest in, you have to consider XRP even out of respect alone. Ripple was not particularly made for individuals but more for established financial institutions. Nevertheless, it is the closest to revolutionising payment methods all over the world. If a bull run occurs in 2019 as we anticipate, Ripple could have some very good gains; on top of being a safe investment option.
3. Ethereum (ETH)
ETH is one of those cryptocurrencies which make sense to invest in. Why? Not only is Ethereum a cryptocurrency, but it is also an entire blockchain technology that is more advanced than the Bitcoin Blockchain. Moreover, there are so many ongoing projects based on the Ethereum blockchain, all of which have good chances of success. Ethereum has grown 3000% in the past it can happen again!
4. Basic Attention Token
The Basic Attention Token has a purpose that is desirable and can gain adoption pretty quickly. Which is why it qualifies as one of the best cryptocurrency to invest in 2019.BAT is a cryptocurrency that aims to change and develop the digital advertising industry. The aspect of revenue gained from content and ads will attract adoption. So at the end of the day BAT may be a good investment for you.
5. Litecoin (LTC
LTC is one of the most dependable cryptocurrencies when it comes to stability and trading volume. Litecoin is now also accepted on Overstock.com as a method of payment. As if that isn’t enough, Litecoin takes pride in having faster transaction time than the King crypto Bitcoin, which ultimately increases scalability as well. Wondering which crypto to invest in 2019? Give Litecoin a chance!
Final thoughts – Which Cryptocurrency To Invest in
These are my top picks for 2019; you may have your own picks. However, what I urge you to do before making a decision is to ask yourself these questions.
1. Do I really believe I can make profits with cryptocurrency?
2. Can I analyse and follow up on market news regularly?
3. Do I plan to sell at some point when I reach peak price?
4. If I sell, do I want to sell gradually or everything at once?
5. Is there anything that can influence me to sell abruptly?
6. How much am I prepared to lose if I do?
I believe once you have the answers to these questions, you will be able to identify whether you want long or short-term investment; and that will help you decide which cryptos to invest in as well.