Basic Altcoins Investment Guide for Beginners
The advent of Bitcoin in 2009 as the first cryptocurrency has gone a long way in giving it an edge amongst other coins. It was the only cryptocurrency until Ethereum hit the market in July 2015, making it a good competitor to Bitcoin. The early part of 2017 saw a 90% fall of Bitcoin to 40%, alternative coins started gaining prominence, so basically any coin other than Bitcoin is called an Altcoin. Most Altcoins are branch off with Bitcoin with little stale changes.
The best beneficiaries of Altcoins are the early stage investors, but taking this investment step requires the ability to foresee strong signals about a particular asset of interest and how it will fare better in the long run. In this guide, Cryptorocket has highlighted some of the best Altcoins to invest in which can be found below:
- Ethereum- This is the second most popular and most valuable coin after Bitcoin which means it’s expected to stick at the top of the Altcoin list anytime. With a current market cap of $64.35 billion, Ethereum was launched in 2015 by Vitalik Buterin, the famed crypto prodigy, from a $9 price in its inception to $168 as at trading today; Ethereum has been a coin many can reckon with because of its inclusion of both a platform and a cryptocurrency unlike Bitcoin. Renowned as the first cryptocurrency to initiate the idea of smart contracts (These are agreements that are coded on Blockchain and can be executed on the basis of meeting several pre-conditions)
- Litecoin- Created in 2011 by Charlie Lee a former staff of Google, Litecoin is one of the oldest Altcoins. The idea of Litecoin came as a result of some pitfalls associated with the advent of Bitcoins. With a market cap of $8.2 billion Litecoin has grown from $4 in 2017 to $65.08 as at current trading. One good feature of Litecoin is its transaction speed, while Bitcoin takes about 10 minutes to complete a transaction; Litecoin takes less than 2.5 minutes.
- DeepOnion – Renowned for its rapid acceleration after it emergence, this platform has proved to be probably the most promising. Its network consensus protocol is an amalgam of Proof-Of-Stake and Proof-Of-Work algorithms which makes them more outstanding. This hybrid offers a more functional and secures system. With a market cap of $3,163,549, the value of their digital asset known as ONION is currently at $0.196285
DeepOnion takes a step further by providing an IP protection for its Android users and also a mobile wallet. With their Deepsend feature, users can make untraceable transactions.
- LUXCore/LUXCoin – This Altcoin aims to bridge the gap in the inadequacies experienced by institutions in customizing financial Blockchain solutions. These institutions would prefer the integration of their services with Blockchain and still be at the top of their game in the industry. An open-source peer to peer and decentralized system which allows for ease of transaction, privacy, transparency and security is what LUXCore provides.
A cross-bridge Interaction between Blockchain platforms is provided by LUXCore which means users on the Bitcoin Blockchain can interact with those on the LUXCore platform. According to Cryptorocket, this has led to the scalability and unification of Blockchain networks. With a market cap of $1.582.142, its digital asset known as LUXCoin is currently at $0.261174.
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