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Looking for best altcoins to put your money in, especially now bitcoin’s price has been dipping?
Bitcoin’s current price (07/16/2017) stands at $2,090, representing a 33% decline from its initial price of $3,000 some weeks back in June 2017. But this isn’t the first time bitcoin’s price has fluctuated so badly, and this won’t be the last.
If you are smart enough, you should have read the handwriting on the wall by now: it is about time you diversified your cryptocurrency investment.
Bitcoin, undoubtedly, is the king of cryptocurrencies. But it has got rival coins which in no distance time could catch up with it.
The earlier you invest in them now, the more grateful you will be by this time next year.
Here are the most profitable alternative crytocurrencies to mine in 2017.
Ethereum is currently the second largest digital currency, with a market capitalization of over $1bn, and has been giving bitcoin a hot chase over the past months.
Currently, the price of this digital coin is dangling between $130 and $180, as against its all-time high price of almost $400 per coin sometime in June.
Like the Bitcoin (btc for short), Ethereum requires specialized computers and heavy power supply for mining – miners are awarded “ethers” for every block mined successfully.
One advantage Ethereum has over Btc is that while bitcoin takes long to transfer, Ethereum transfer can be done in minutes.
Why should you invest in Etherum?
- Big companies and brands like Microsoft and Thomas Reuters have supported its use.
- It is considered safe by most banks, including Bank of America
Looking to buy Ethereum? Head over to Coinbase now
Litecoin, an altcoin which debuted in 2011, is currently #4 on the list of crypto coins with the largest market cap. Like Bitcoin, litecoin needs to be mined. Mining is done via dedicated computing systems capable of deciphering complex algorithms are needed for this task.
Compared with bitcoin, litecoin is way much easier to mine, and miners are rewarded with more coins unlike they would if they were mining bitcoin.
Learn more and find out how to start investing in Litecoin.
Namecoin is the next kid on the block. If you are looking for the best altcoin to invest in for the long term, Namecoin is the way to go.
With more stores accepting Namecoin as means of payment, this digital currency is well on its way to dominating the market in a few years to come.
This digital currency was borne out of the desire of programmers to improve the transaction speed of bitcoin, hence the name “dash”.
Dash has some number of upsides, and they are:
- Low transaction fee
- Supports peer-to-peer payment
- You can send/receive payment from any corner of the world
- It’s super-duper secure
Digital coin, just like most other altcoins, has been on the rise recently, with more and more online stores accepting them for payments. Like Bitcoin, digitalcoin is relatively stable and secure as well. All it would take you to transfer digitalcoin is the click of a button.
Unlike bitcoin which has a cap of 21 million, dogecoin’s cap is –well –limitless. However, one major drawback with dogecoin is that it has very little monetary value, no thanks to its limitless cap. On the bright side, dogecoin has an ever growing popularity. So, should you decide to invest in it, be assured your investment won’t be flushed down the drain.
Veteran investors will tell you that diversification is the secret to riches. Investing in cryptocurrencies is no different. You sure don’t want to wake up someday to discover that the money you put into bitcoin has gone up in smokes – be wise!