There are about 1,500 cryptocurrencies and assets in the world with new ones being added frequently; however not all of them make headlines or are popular among new and seasoned traders. Every cryptocurrency offers something different in terms of function and makeup.
After a little stumble, the cryptocurrency market is picking up again and the bulls expect it to continue to perform well for the rest of the year. Therefore, it won’t be wrong to say that this is the time to look for good investment options and think of some profits.
To help you decide where your money should go here is a list of five of the most popular cryptocurrencies in 2018.
This was a given; bitcoin was the first ever cryptocurrency and since then it has been the most popular and powerful digital currency in the world. The interesting fact is that the creator of the currency is still unknown. With the market cap close to $200 billion, about 16.8 million bitcoins are circulating worldwide. The currency is not unlimited and no new bitcoins will be generated after it hits its limit of 21 million tokens. The currency calls for big investments and seasoned traders; it is not for the faint-hearted.
Even though Zcash is new in town but it has already made its mark. The long-term expansion and growth plans by the CEO of the company, Zooko Wilcox-O’Hearn play a key in keeping the traders interested. With around 21 million coins in circulation, each transaction is added to the blockchain. And there is more, you can get full details of every transaction you carry out, which makes it easier for you to study trends and see where the profits are coming from.
It is only second to bitcoin in popularity and is more than just digital money. It is a platform based on blockchain technology, which is used for creating smart contracts and decentralized apps. If you have an idea then you do not need to create a blockchain for it, you can just start developing using Ethereum’s blockchain. New blocks are continuously added to the public blockchain and three ether are awarded to the computer that generates the block.
Steem or STEEM
Steem is the brainchild of the social media and blogging platform Steemit. The users who write comments on different blogs, create their own blogs or participate in other activities on the platform get rewarded with Steem token. These tokens can be used to buy other features that the platform offers. The rules are simple, to get more tokens you need to use Steemit more; moreover, this digital currency can be exchanged for real money.
Dash or DASH
Dash was originally known as darkcoin and quite rightly so because it can be called the secretive version of its more popular counterpart bitcoin. Why secretive? The currency works on a mastercode network that is decentralized and transactions carried out using this platform are almost impossible to trace.
Almost all these digital currencies present good investment opportunities for new and seasoned traders alike. The key is to be patient and proceed with caution as the overall cryptocurrency is quite volatile.