3 Up-and-Coming Cryptocurrencies to Keep an Eye OnDate Written: September 11 2017 Written By: George Miller
It’s been a rather “red” couple of weeks across crypto markets–China’s recent ban on ICOs and possible “bear traps” have cast a temporary darkness over the bright future of cryptocurrency.
However, smart investors light up when they see those red numbers the same way that a savvy shopper grabs their wallet when they see a sale. While these dips in the market cause short-term portfolio shrinkages, they carry with them the possibility to buy valuable coins at a low price.
Bitcoin’s valuation has been hovering over US$4000 for about a month. Unless you’re one of those people that bought 500 Bitcoins for twenty-five bucks a few years ago, or you’ve got a serious amount of capital to invest in Bitcoin now, the possibility to make those 1000% returns that you’ve heard about may have passed you by (although some analysts do predict that Bitcoin could be worth more than US$500,000 in a few years).
However, there are tons of “altcoins” that maybe–just maybe–could one day bring those eye-popping returns that we’ve all been dreaming about. The key to success is choosing the right one–but how?
When deciding which coins to put your funds into, a few things are important to consider: What purpose does the coin serve–is it a settlement layer, or a form of digital cash? Does the coin’s function fulfill a need or solve a problem? Who is behind this coin–is it a group of reputable and knowledgeable people who care about the long-term success of their coin? Is the coin’s network built on secure, innovative technology?
There are lots of coins out there that are all hype and no substance. However, there are a few excellent coins with excellent development teams and software that are worth your time and money. Here are six coins that you should take a look at.
Iota is the only cryptocurrency that doesn’t use a blockchain; instead, it uses something called the “Tangle”, a decentralized network that is capable of processing transactions instantly and with no fees. Iota can be used by humans, but it was intended more for m2m (machine-to-machine) use.
Essentially, Iota is designed to be the money that AI robots use to pay each other with. Iota is intended for compatibility with the Internet of Things–a currency that your smartphone could send to an AI drone that picks up a pizza and delivers it to your house.
The kicker is that Iota probably won’t be adopted for widespread use until AI devices become more commonplace in our lives, meaning that this is a long-term investment. A single Iota coin is currently worth about US$0.48, so a little investment could one day bring big returns.
Lisk is the self-proclaimed “first modular cryptocurrency”. It was created primarily as a settlement layer–that is, it was intended as a platform that will primarily be used to create other cryptocurrencies and decentralized applications, or “dapps”.
What’s innovative about Lisk is that instead of running on a single blockchain, each of the coins and dapps created on Lisk’s platform have their own “sidechain”. Lisk is also designed to be extremely user-friendly. A single Lisk token is currently valued at US$6.70.
OmiseGo was created as a . Its platform will operate a decentralized exchange that will allow for transactions across borders and currencies. OmiseGo is currently being marketed for use mainly in Asia, and will have a user-friendly mobile wallet that will provide banking services for areas of the world that lack economic infrastructures and banking services.
OmiseGo’s mission to create a user-friendly coin and wallet that will help to grow the economy in some of the poorest areas of the world. In other words, OmiseGo is targeted toward a largely untapped market. It will take a while for OmiseGo to be adopted on a large scale, but OmiseGo has the potential to become a valuable coin in the future. A single OmiseGo token is currently valued at US$11.63.