Cryptocurrencies can be the future of money, and even though they are still in their infancy and lacking the regulatory systems and networks to fully utilise. The shared agreement to use and embrace this new wave of technological assets, means that the current financial systems that control, regulate and maintain paper currencies such as the USD, GBD, EURO, YEN etc will no longer maintain a monopoly over the financial and monetary markets, and moreover, human affairs.
Cryptocurrencies are used primarily outside existing banking and governmental institutions, and exchanged over the Internet. While these alternative, decentralized modes of exchange are in the early stages of development, they have the unique potential to challenge existing systems of currency and payments – Wikipedia
Cryptocurrencies have been known to make many rich and therefore, there has been a financial incentive for early investors that that pick the right coins. There has so far been two waves of monumental growth in the cryptomarket. The first being that of Bitcoin, and more recently that of Ethereum (which isn’t actually a coin/currency as many believe).
These digital assets make a great investments for those wanting to diversify their portfolios. Much like gold or silver, they can be backed and stable when traditional currencies fall or become obsolete.
Great, So How Do I Invest?
There are essentially two ways to enter the market. The first is to buy the coin using your money of choice, either early in its funding or down the track. Or by “mining” the coins using computation. Which is the system that allows for these decentralised proofs of transactions to occur in the network. Read more here
After dabbling in cryptocurrency after the first wave (through purchase & mining) and missing out on the Ethereum bubble through the second wave. I decided that I could not afford to miss another opportunity like this. Through research into the market, I rediscovered old coins and many new tokens that were interesting and that could hold long-term potential. These will be a great starting point for you.
[Note: I am not a professional, so risk at your own merit]
Cryptocurrencies To Invest In 2019
Alternative & Utility Coins/Tokens
Additional List of Interests: Peercoin, PIVX, TenX, Siacoin, Golem, Qtum, Bytecoin, ICON, Lisk, Aeternity, Verge, Nano, BitShares, Wanchain, Populous, Stratis, Aion, Bancor, Kyber, Storm, Power Ledger, SingularityNet, DentCoin, Metal, Einsteinium, WePower, Odyssey.
Almost all the coins have spiked in gains and are undergo stabilisation to the markets needs and capacities. It’s very clear that there is a strong correlation between the gains of Bitcoin and the other alternativecoins (Altcoins).
Attracting people that want a share in the pie, which leads new buyers to look at other currencies for the next big win. Watching the ups and downs of Bitcoin (BTC) will often give you a decent idea of the market movements.
When investing in Cryptos, it’s important to understand the power of hype and human emotions. Not only is it a highly competitive and demanding technological space, but there are many with their eggs on the different sides of the market. There is news and media with contradicting information and even fake news. However, these tactics seem to have eased off somewhat as the market capital has fallen.
None the less, it can be highly volatile and a new investor needs to have a strong composition and the foresight to take an eagle eye approach to the market. Seeing your portfolio going up 300% and within months turning into a fraction of what you initially invest, can turn some people off.
It is up to you to decide how you would like to approach it. But there are plenty of opportunities, both long-term and short-term to make money within the space.
Furthermore, we need to realise that the other coins and tokens are valuable regardless of what Bitcoin is valued. Some would even argue that Bitcoin has no future and is currently more of an icon and store of value. Even though cryptocurreny has become synonymous with Bitcoin, it isn’t the end and the future of the technology. Hence the multiple Bitcoin forks.
Ethereum, the other Bitcoin
For many newbies entering the market, BTC holds quite a bit of promise. However, the same thing can be said about Ethereum (ETH). Even though some of the new ICOs and other coins like Waves were setup on the technology of Ethereum, it does not guarantee longevity. As there are already new platforms that are competing in its space, such as NEO and Stellar.
With new coins starting every other week. There is an ever growing list of options. However, for those who are in it for the long-term, then serious thought must be given to longevity of the coins and their platforms. Also realise that many fulfill the same/similar functions and therefore, are directly competing with one another.
We must remain vigilant, cryptocurrencies have the potential to create for us a future that is better, smarter and less corrupt. If we make the mistake to merely run after profits alone, we might not be using this technology to its fullest potential. Those who invest, may desire to support their investments in more ways than one.
What’s To Come
One thing is for sure, the cryptocurrency market can be confusing. Meaning you will be seeing overall unpredictability until the technology becomes more matured and integrated with the current global infrastructure. And systems, products and services are built around it.
Using Chinese whispers to pass fake news to one another isn’t the best way forward. The next big gain may very well have to do with global adoption and systems of regulations that will make these more viable in the present economies.
But it is safe to say that previous trends of the cryptocurrency market is the safest indicator of its future. Identifying these trends is the key. If the market has reached its height, and has now has fallen. Know that it will most likely return to that point again or close to it.
So when buyers aren’t feeling confident and bearish, it’s a good time to start shopping for the more courageous. Now being an excellent time to jump into the market (07/03/2019).
Where to Buy Cryptocurrencies
- Coinbase – gives you the greatest global reach with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Earn $14 with your first order.
- Binance – a great exchange with a huge range of coins and features, also a great place to dabble in day trading and short-term buys and sells.
- Coinspot – is an Australian based service with a great range of quality of life features and a reasonable 1% fee rate. The go to place for aussies who want a smooth investment experience.
- The market is still very volatile due to the lack of rules and regulations.
- Cryptocurrencies are in their infancy, which is both good and bad.
- Cryptocurrencies aren’t currently being fully utilised.
- New investors need to understand that they are a long-term investment.
- Though it’s volatile nature is ideal for day trading and short-term gains.
- There is a risk of hacking & theft. Safety isn’t the highest factor for these investments right now. But has improved greatly.
- Fake news is created to influence the market.
- There are people betting for both outcomes.
- When looking to invest, future potential and community are very important factors to estimate future value.
- Focus on a few coins rather than spread out your investments thinly.
- Buy low and keep. Also consider reinvesting the initial gains back into the coin.
- More than just investments, they stand for a free and decentralised future.
Coin Market Capitalizations gives you a real-time charts of all the cryptocurrencies in all major world currencies. Keep up with the news using Google Alerts or the Reddit cryptocurrency sub. Follow Youtubers such as Ameer & Louis for latest news & discussions on the topic. And checkout ICO listing websites to see the latest startups based on the these innovative technologies.