Investments in digital currency are a divisive concept in trading and financial investment circles. The cryptocurrencies are open to similar fluctuations and trends that we see in regular commodity prices. What sets them apart is the length to which supporters and critics exaggerate things.
Every time we see the coin prices rise, supporters come out in droves to predict crypto values would soon surpass the highest milestones. Every time we see a dip in prices, people start predicating that it will go bust and the whole thing is a fraud.
Rational investors should take a more nuanced approach. It should be understood that just like other investments, there are risks associated with cryptocurrencies. There are also rewards to making a good investment decision. Decisions on when to invest, and how much money to use, should be based on a thorough analysis of price.
With that in mind, we review some of the investment opportunities open to people looking to invest in cryptocurrencies.
Ethereum is the second largest cryptocurrency based on market capitalization. This currency has the backing of the Ethereum Corp which regularly updates the platform. It utilizes some of the latest technologies in the cryptocurrency platforms such as proof of stake mining and smart contracts which make it particularly attractive to businesses and long term investors.
The coin is currently trading just below $700. While it has lost some value in the last month, analysts believe that at its current level, Ethereum is a strong buy.
This relatively newer cryptocurrency has been doing well in the markets. NEO allows a platform similar to Ethereum for creating smart contracts which makes it attractive for business investments.
The thing that makes it worth considering is the positive stance of the Chinese government on NEO. The platform was built by developers from China which is probably why this cryptocurrency did not suffer the same level of crackdown that Bitcoin and Ethereum had from Chinese authorities.
NEO is currently trading at $83 after having fallen from the earlier high of $160 in early January. Most analysts believe that the coin will perform well because Chinese investors with deep pockets find it more appealing than Bitcoin.
Ripple was unarguable the best performing currency in 2017, despite staying in the shadow of Bitcoin. The coin rose by more than 7,000% to Bitcoins gain of 1,000% in 2017.
The Ripple platform is much faster than Bitcoin and offers most of the new techs that are covered in alt coins like Ethereum and Bitcoin Cash. It has particularly generated interest from money transfer services like Moneygram and American express which hope to make use of the coin for their international transfers.
Ripple is currently at $0.79, significantly lower than its previous high of $3.80 in January. Crypto experts believe it is a very good investment given its low value. Investors can hope to make significant gains in the currency even with slight movements in the future if they choose to purchase and hold right now.
Charlie Shrem is a Bitcoin pioneer, a social economist and digital currency trader. His work in this field is legendary. In 2011, at the dawn of the crypto era, he founded BitInstant, the first and largest Bitcoin company. In 2013, he founded the Bitcoin Foundation and serve as its vice chairman. Since then, Charlie has advised more than a dozen digital currency companies, launched and managed numerous partnerships between crypto and non-crypto companies, and is the go-to guy for some of the world’s wealthiest entrepreneurs. In short, he is the ultimate insider at the epicenter of the crypto universe.
Crypto.IQ is a premier advisory firm providing expert research, education and advice in the world of cryptoassets. The company is unique in that it combines the unparalleled expertise of crypto pioneer Charlie Shrem with the unparalleled market knowledge of three Wall Street experts with more than a century of combined financial industry experience. Together, they have managed and traded more than $1 billion in assets. In a world of “instant experts,” who have little knowledge or trading experience, the Crypto.IQ team offers the proven depth, insight and knowledge to help their clients achieve success.
Raise your Crypto.IQ…and profit! Crypto.IQ gives you the insider knowledge you need to succeed as a cryptocurrency investor.