5 cryptocurrencies for summer 2018
In this report, I introduce you to 5 cryptocurrencies for summer 2018. Already a few months ago, 10 crypto currencies were discussed at this point, which are worth an investment. An addition to other attractive coins followed at the beginning of the year. I link to the previous articles on the topic investing in cryptocurrencies.
A turning point?
In December 2017, the cryptocurrencies reached their highest level ever. About four months later, most currencies are still between 50% and 80% off their all-time highs. Many short-term investors who have bought at peak prices have long since fled the market through a correction. For some weeks a soil seems to crystallize out. On 18th April 2018, the EU decided that crypto exchanges must archive transactions for 5 years in order to prevent illegal money transfers. Bitcoin may face a groundbreaking update, the tax period in the US is over, partnerships with companies on engineering, finance and the porn industry have been closed, and new ICOs continue to be established. In short: The cryptocurrencies are doing well after the market correction. The question arises as to whether the next bull market is imminent? Nobody can predict that.But the likelihood of rising prices has risen sharply. For this reason, I am building up a few positions myself and enter into 5 cryptocurrencies, which I consider to be promising.
1) Bitcoin (BTC)
If the recent fall in prices has taught us something, then altcoins in a bear market will suffer much more losses than the established coins. The still undisputed market leader is Bitcoin. If you like, buying Bitcoin within the scene is a conservative investment. While one must actually fear , that a lot of coins in the coming years will not survive, Bitcoin is likely to continue to exist. The second important reason that speaks for Bitcoin is the possible integration of the Lightning Network. This network could solve you problems of Bitcoin overnight.
Speed of Light
If you want to buy bitcoin today, it is necessary for each participant to download the entire updated blockchain. This allows 6-7 transactions per second, with SegtWit Update 12-15 enabled. This is unbelievably low and also costs a lot of money. As a currency Bitcoin is currently not usable. With the help of the Lightning Network, it is no longer necessary to tell each participant in the blockchain that transactions are in progress. For this purpose, sidechannels are opened, which enable two participants to swap any number of Bitcoin with each other as often as they like. Transactions are performed lightning fast (Lightning) and the costs are drastically reduced.The technology is still in its infancy, but a successful beta test has already been carried out. More information about the Lightning Network can be found here. Bitcoin should continue to be the largest position in any crypto portfolio.
2) Cardano (ADA)
Cardano is one of the cryptocurrencies that was the most punished during the crash. I nsgesamt was Cardano temporarily removed from the all-time high close to 90%. The almost ridiculous increase from less than 0.10 euros to more than 1.10 euros within a few weeks was perhaps too much of a good thing. However, it also testifies to how much price potential there is in this cryptocurrency. Cardano inspires its supporters above all by a very broad and very competent team.
What can Cardano do?
To date, there are few applications for all cryptocurrencies. Cardano wants to set the course before the implementation and integration of projects in the real economy are implemented. Cardano is one of the platform-oriented cryptocurrencies. Similar to Eos, Neo, Nem or Ethereum. They are less used for the transaction of cash flows, but allow, for example, the development of decentralized applications on their platform and using their own programming language. Charles Hoskinson, co-founder of Ehtereum and one of the leading minds in the crypt world, relies on open source. Other users should be able to develop their ideas further on the basis. The platform should not belong to a small group. Another characteristic of the leading team is their scientific background. Cardano wants to be smart and academic.Something like the elite partner among the cryptocurrencies. Goals are mainly to solve common scaling problems and speed issues.
3) Binance Coin (BNB)
Binance Coin occupies a special position. Because it was created for one purpose only: to allow transactions through its own cryptocurrency exchange called Binance *. Binance has the advantage of very low transaction fees compared to competitors. They are only 0.1%. If you use Binance Coins for payment on the platform, you only pay half the 0.05%. So pretty much every trader on Binance uses the in-house coin. There is a congruence of interests.
Potential of the Binance Coin
Binance is currently the stock market with the best deal on the market. The fees are very low and there are very many coins offered compared to other exchanges. It is the stock exchange with the highest current inflow. The bill is simple: the more people use Binance as a stock exchange, the more people buy the Binance Coin, the higher the price of the currency.
4) Monero (XMR)
Monero, such as Verge or ZCash, belongs to the anonymous cryptocurrencies and is considered by many to be the most promising member of this genus. Anyway, Monero is superior in terms of market capitalization comparable values. Many investors are of the opinion that cryptocurrencies are basically anonymous. This is not true and is a common misconception. Bitcoin, for example, is anything but anonymous. On the contrary, Bitcoin, like most other coins, is very public. Although a used wallet address can not necessarily be associated with a name, it can certainly be traced back over other paths (eg IP address).
My data is mine
In times when data is the most important commodity, anonymous cryptocurrencies are of central importance. Although these coins can also be used for illegal transactions, but also to protect sensitive data. Monero transactions can neither be traced back nor brought in connection with those involved. Buyers, sellers and the sum remain completely anonymous. As a result, companies would not be able to create movement and purchase profiles with the help of their data, thereby influencing politics and the economy. Because the data belongs to you in the end, as it should already be.
5) Funfair (Fun)
As the name implies, Funfair comes from the field of entertainment. I consider Funfair to be a very interesting coin as it enters a very stable business that exploits a classic human weakness: gambling.
No Fun without Funfair
Funfair offers a kind of decentralized casino. In order to participate, interested parties must buy Funfair Coins. They serve as chips that players need for tables. In addition, Funfair offers their platform as the basis for further casino implementations. In addition, Funfair remains anonymous. This means that as a player you do not need to worry that the coins used are due to you.
In addition to these five presented coins for the summer would come in a number of other coins in question, which could stand before price increases. It’s incredibly hard to limit yourself to five currencies. Hot candidates remain eg Iota, Eos, Ethereum, Omisego or Golem. Apart from that, with very high probability, every coin will get a higher price if there is another bull market.