With the wild fluctuations in the crypto market recently, it’s hard for investors to know whether blockchain technology and the digital tokens they produce is still worth the investment.
However, even with the crazy highs and lows, most agree that blockchain technology is the future of finance, even if they are unsure of what companies and coins will be paving the way forward.
With popular coins such as Bitcoin, Etherum, and Litecoin losing significant value on the crypto market recently, here are five cryptocurrencies that have tremendous growth potential, making them very attractive to investors in 2018.
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1. Oyster (PRL)
Oyster is a new cryptocurrency that bills itself as the “future of website monetization and storage.” They believe they can solve the problems with online advertising with just one piece of code and have already proactively taken steps to address issues with privacy such as sharing data and storage.
Based out of China, VeChain is managed by Sunny Liu who has been a C-level executive at several Fortune 500 companies. Many investors consider VeChain to be one of the most underrated cryptocurrencies in the market today making it an alluring investment in 2018. The goal of VeChain is to help Chinese corporations developing supply chain solutions and counteract counterfeiting which is a major issue for many Chinese companies.
3. IOTA (MIOTA)
IOTA is one of the most promising cryptocurrencies on the market in 2018. David Sinstebo, Dominik Schiener, Dr. Serguei Popv, and Sergey Ivancheglo invented IOTA in 2015. One of the more enticing features of IOTA is the underlying technology used to create the cryptocurrency is constantly being updated, with plans to make the platform available to a wider audience over time. IOTA’s value is predicted to increase fourfold over the next five years, making it an extremely inviting investment for investors moving forward.
4. Ripple (XRP)
Ripple survived much of last year’s run-up in value and subsequent downfall of cryptocurrencies flush with cash. In doing so, they are trying to get companies (and individuals) to use their digital coin XRP in the manner it was intended: for payment of goods and services.
To that end, they’ve had some high profile successes with a $4 million giveaway on the Ellen DeGeneres show and a $29 million giveaway to teachers on Steven Colbert’s late night talk show. Ripple recently entered into a research project with MIT to develop blockchain, financial services, and other enterprise data projects.
5. Steemit (STEEM)
While most cryptocurrencies were trading in the red, Steemit saw a 30 percent increase in its value this year. Not a cryptocurrency many investors are aware of, Steemit is one of the blogging and social media platforms that has integrated cryptocurrency into its concept.
On Steemit, users are rewarded with tokens for making comments, writing blogs and creating other popular content on the social networking platform. The tokens they receive for their work can be converted into the form of payments whenever necessary.
While there is still some concern for how viable this social content meets cryptocurrency model is, it’s current rise in popularity makes it an investment worth looking into moving forward.
So there you have it: five cryptocurrencies that are potentially good investments in 2018. While the above cryptocurrencies are promising, make sure that — before investing — you do your due diligence on the companies and the underlying technology powering them.