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What Is The Best Cryptocurrency To Invest In October 2017

Dollars, British pounds or another fiat currency, after the supply is in circulation, the distribution won't ever grow, devaluing the buying power that is currencys. Smart Contracts Some cryptocurrencies have a feature that cant be duplicated with fiat currencies. Ethereum is among the best examples using its support for smart contracts, basically many different uses, some of which we might not have imagined in addition to programs that reside on the blockchain and may be used to handle transactions.

The contract can manage the details of a transaction releasing payment when predefined conditions are met. Cost of Transfers The price associated with transfers that are cryptocurrency can be a pro or a con, depending on the type of currency, the sort of transfer, and the speed of the transfer.

Costs are problematic for trades. Kinds such as Ripple, of cryptocurrencies, are quickly an inexpensive to transport technology by financial institutions. Cryptocurrency Disadvantages Cryptocurrencies come with a list of factors that could help traders make investments.

Retailers accept cryptocurrencies for payment, but a few are there. announced in 2017 that they would accept cryptocurrencies as payment. Payments will be limited to Bitcoin, Ethereum Dash, and Monero, giving the other cryptocurrencies the cold shoulder.

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The market can change quickly and options continue to be limited although market adoption of cryptocurrencies for payment has been slow. Obsolescence As many as 1,000 cryptocurrencies have failed already, with monies sure to follow. The most common type of failure is in the First Coin Offering (ICO) or soon thereafter, with many coins finding a crowded marketplace for coins with similar features to present offerings, causing doubt among investors.

Presently, ICOs are unregulated. Abandoned Cryptocurrency Projects Most of the investment money for cryptocurrencies is focused on a small group of coins. Without investor interest, projects can get abandoned, leaving digital coins that were basically worthless to investors. Regulation risk has two sides, regulation Risk As it pertains to cryptocurrencies. In the U.S., cryptocurrencies are not regulated at a national level, leaving states the choice to introduce rules and regulations regarding cryptocurrencies or the blockchain technology that serves as the backbone for cryptocurrencies.

Cryptocurrencies and liquidity Risk Investors may find fewer buyers, when seeking to exit a position creating challenges. When it comes to price volatility volatility Risk Few investment classes can rival cryptocurrencies. Prices can rise or fall dramatically in one day, breaking or making fortunes. Third-party Risk Mt. Gox, a Bitcoin exchange based in Japan, and the leading exchange worldwide in 2014 was hacked, causing a loss of almost half a billion dollars in Bitcoin.

Secure Keys Cryptocurrencies are often kept in a digital wallet, which can be secured by a code or a series of words. Unlike your bank account or investment account, there is no recovery procedure available if you lose your password.

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Weiss also spotlights a dozen cryptocurrencies as being the weakest, it identifies. Weakest cryptocurrencies Source: Adoption Rate Cryptocurrencies are highly speculative investments in the largest gains are occasionally found among newly introduced coins or coins whose technology has found the market, as was the case with Ripple. More cautious investors might choose to appear at adoption rate, focusing portfolio investment on cryptocurrencies which are currently utilised in real-world transactions.

Fledgling cryptocurrencies may not discover the market, from leaving the position preventing investors. Promising New Technology Ethereum and Ripple both owe their stratospheric profits in 2017 to the innovative technology built into their respective platforms, differentiating both cryptocurrencies from the crowded market of frequently similar offerings. Safety or Anonymity Features Technology such as smart contracts, found in Ethereum and several other cryptocurrencies make transactions more secure by enabling a set of rules for each trade.

Industry Utility Ethereum and Ripple are again good examples of cryptocurrencies beyond a medium of exchange with usefulness. Ripple, specifically, features its rise in popularity and a price appreciation of 36,000% in 2017 to approval within the financial industry as a tool to transfer money around the world inexpensively and faster compared to traditional procedures.

Redundant Technology Many cryptocurrencies are built on open-source code, making it relatively easy to clone an existing cryptocurrency, possibly making only minor modifications to the code or the cryptocurrencys features. In these instances, the new currency may not provide enough unique advantages to justify investment or suggest that the currency will be widely adopted.

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Staying with currencies that have shown signs of continuing market interest is a safer bet. Low Market Cap Much as market cap helps us to instantly distinguish between a Dow Jones stock and a penny stock, a higher market cap points to a more vibrant marketplace and greater liquidity. Thinly traded cryptocurrencies or people with a low market cap could be a trap thats hard to escape if you need to make a stop.

Cryptocurrencies with broader support on popular exchanges make it much easier to build or leave a position. How We Chose the Best Cryptocurrencies The most daring investors can buy new cryptocurrencies at the first coin offering or shortly thereafter, after the example set by many of todays Bitcoin millionaires. However, there may never be another Bitcoin, and the estimated 1,000 cryptocurrencies who have vanished into the digital ether point to dangers for early investors.

Bitcoin (BTC) The granddaddy of all cryptocurrencies, Bitcoin was first and is the most well-known cryptocurrency on the market. It also benefits from the largest market cap and is one of the most highly traded cryptocurrency, promising liquidity at the short-term. Bitcoin is the king when it comes to retail adoption, leading all other cryptocurrencies in terms of approval as a payment medium.

2. Ethereum (ETH) As the platform and currency which made smart contracts part of the cryptocurrency markets vocabulary, Ethereum has seen massive gains since its introduction in 2015. Currently monitoring just Bitcoin in regard to market capitalization, Ethereum has become one of the most widely discussed cryptocurrency projects in the world.

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Morgan are constructing business-ready versions of the software that drives Ethereum. With momentum and market excitement behind the Ethereum job, theres no reason to believe Ethereum has run its course and investors must consider Ethereum as part of a cryptocurrency portfolio. 3.

Ripple Labs has announced a number of partnerships with leading money transfer services, with more financial market partnerships anticipated in the future. Unlike many cryptocurrencies that trade on hopes and dreams, Ripple is being used in the real world now, showing signs of prospective adoption within the financial market community.

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4. EOS (EOS) Another cryptocurrency with smart contracts such as Ethereum, and that is gaining in popularity is EOS. EOS is credited with being the first blockchain operating system, offering decentralized applications that reside on the blockchain and concurrent processing, enabling faster transaction speeds and better scalability than some rivals.

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EOS concluded its yearlong ICO in May of this year, raising a total of $4 billion. The longer-duration ICO was done in an attempt to make an orderly market for EOS with no dramatic run-up and sudden crash common to cryptocurrencies when launched. YTD performance for EOS is flat, with less volatility than has been seen with some competitors.

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5. Bitcoin Cash (BCH) Bitcoin Cash, a fork of the original Bitcoin project, is one to watch, as its the fourth largest cryptocurrency by market cap. If compelled to level criticism against Bitcoin in its current form, slow trade speeds are among its principal challenges. Bitcoin cash was developed using altered code in the Bitcoin project that enabled larger block sizes, promoting faster transaction times and better scalability.

6. Litecoin (LTC) Currently accepted as a payment method at, Litecoin may also have a bright future. Long-term investors in LTC have been rewarded with up to 20x returns, even though a spike in late December 2017 sent the price of LTC to over $350.

Increased trade speed also enhances scalability. Last Thoughts on Best Cryptocurrencies Cryptocurrencies are still in their formative years. First coin offerings can be tempting, especially with the parabolic rises common to ICOs.

More based currencies help to avoid some of the volatility and provide better liquidity than found with newly minted cryptocurrencies. Its important to learn where a cryptocurrency could be traded and how big the market is for that cryptocurrency. Many early investors have found themselves with no viable method to leave the position.

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When investing in cryptocurrency, one overlooked but important element to watch out for is usefulness. Forget the flashy ICO adverts and look instead at the way the cryptocurrency will be used. A utility provides these benefits to a cryptocurrency:Improves liquidity A cryptocurrency that transferred is being used and traded allows to buy and sell said cryptocurrency.

Investors seeking to profit from the demand also seek out it. Creates scarcity The more a cryptocurrency is in demand the more it will be acquired by consumers, leading to less coins in circulation. We will look at three unique cryptocurrencies with use cases that are very ambitious today.

Pantos (PAN) is a cross-chain cryptocurrency developed by cryptocurrency exchange Bit Panda, which is also the only place where investors can now get this cryptocurrency. PAN has been developed to work being able to transfer to the Lisk blockchain and vice versa from the Ethereum blockchain for example.


To achieve this, PAN relies on Token Atomic Swap Technology (TAST), which is essentially Atomic Swap technologies for inter-blockchain transfers involving cryptocurrency tokens. To help bring this project to life, PAN is being developed in collaboration with researchers from several institutions which include:University of Vienna Research Institute for Future Cryptoeconomics (RIAT)Austrian Academy of Sciences If successful, PAN will allow near immediate cross-chain transfers, allowing users to transfer assets from one blockchain to another without needing to use a third party medium such as an exchange.

For what they are trying to achieve, the partners they work with (including Waves, Komodo, Lisk & NEM) and the low access to this token, I believe PAN is very undervalued. Omise Go (OMG)Omise Go (OMG) is currently sitting in a marketcap of $248 million and a cost of $1.75 which is unbelievable considering the massive demand this cryptocurrency had only last year.

Omise was also awarded Digital Startup of The Year by Thailands Prime Minister and was featured in Forbes Thailand in 2016. OMG is trying to solve 2 problems:Hundreds of thousand people in Asia, and two billion people around the globe, are unbanked, meaning that they dont have access to a bank account.

OMG wants to provide the unbanked population with a simple to use system to store, send and receive cash, in any currency or asset, for a very low price. To put it simply, Omise Go wants customers, vendors and retailers to easily transfer money across the planet, across any network with any type of currency of asset type.

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OMG are targeting both people and Electronic Payment Providers which gives the cryptocurrency a enormous room for adoption. The scale of the problem that OMG is trying to handle is a really large one with hundreds of millions of possible users in Asia alone (where Omise Go is based) and over 2 billion globally.