3 Key Cryptocurrencies With Great Investment Potential
Based on data collected by Live Coin Watch, the amount of capital invested in the combined cryptocurrency market is now over $260 billion. Canny investors who turn themselves into “Bitcoin millionaires” – many of them staggeringly young – are popping up on mainstream business news channels like business24-7. The amount of excitement cryptocurrency is generating is undeniable. There has been lots of roumors lately about where this youngsters have invested their money to build their million empire. Ppsnorthamerica has recently published a list of the top cryptocurrencies to invest in which seems to be very similar to what the young investors have bought few years ago.
The stream of promising stories related to cryptocurrencies like Bitcoin has produced an enormous groundswell in investor interest. Unfortunately, it’s also a field where a lot of first-time investors are absolutely uninformed. Questions like “What does Bitcoin do,” “what’s Ripple,” or “what makes Ethereum different” abound among novice cryptocurrency investors. If you’re looking for those kinds of answers yourself, this article can help.
Bitcoin, Ethereum, and Ripple are currently the three champions of the cryptocurrency market. Here’s a breakdown of the most promissing cryptocurrencies by business24-7 of each one that reviews their distinctive points and reports their market capitalization.
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Market Cap: $127,377,634,578
Bitcoin was launched in 2009, making it the first blockchain-based cryptocurrency. It remains a market leader, with the highest market capitalization around – by a wide margin.
Bitcoin’s high pricing is easy to explain based on its perennial popularity and its “first mover” advantage. According to Asad Saddique, a fund manager in London and an e-commerce entrepreneur (and winner of Shopify’s 2016 Build A Business VI contest), Metcalfe’s Law may also be a significant factor in Bitcoin’s popularity.
Market cap: $38,250,011,417
Saddique says Ethereum is especially popular for ICOs and Smart Contracts, lending it B2B legitimacy. He also notes that 2017 saw over $5.6b in ICOs, with most of them using the ETH platform.
Smart Contracts are Ethereum innovations first introduced in late 2014. Smart Contracts are programmed applications that can direct transactions, build markets, and store registries. The full potential for Smart Contracts is still being explored.
ETH’s position as a foundational tool in so many ICOs has boosted its popularity and value significantly. Because an ICO obliges an interested investor to buy ETH coin, the currency’s price has climbed steadily.
Market Cap: $20,175,667,626
Ripple’s roots actually predate the development of Bitcoin, but it began making use of fundamental Bitcoin protocols (as Opencoin, originally) in 2013. Ripple’s software is friendly to government regulation, free for end users, and directly compatible with making payments to Bitcoin addresses.
Saddique says Ripple is primarily focused on large-scale corporate transactions, like the SWIFT-dominated market of inter-bank settlements. This is a market that’s worth $150 trillion annually, and Ripple offers significant reductions in the cost and time it takes to move all that money around.
Ripple’s goal is to significantly speed up large financial transactions. The currency is developed by experts in cryptography, security, data science, software development, and finance. RippleNet, a scalable solution that also works for credit card transactions, is capable of handling roughly 1,500 transactions a second.
Gold Investments Are In a Downturn
After the new cryptocurrencies have shown up and after the hype created across crypto millionaires was published in the news, gold investments seem to loos some of their popularity. This could change in a matter of days when the crypto market will loos track. We have seen this many times before as some major players revealed bad news and people started selling of their digital coins and put their money back into gold and silver. When it comes to gold investment Dubai and the UAE are still the place to go. Dubai is still known as the city of gold as their government has applied zero taxes on gold investments and secured very low gold storage fees for their customers. You can track the current gold rates and prices on business24-7 and you can learn how to buy gold online on this page.