The Bitcoin craze is a bit overrated. Admittedly, the ‘Big Daddy’ is here to keep it big. But if you want to explore more opportunities for your investments, you should entertain other less popular cryptos. It’s not hard to look for the cryptocurrency on the rise. Read the charts and you’ll find out which one is promising.
There are predictions like USV’s Fred Wilson’s “Big Cryptocurrency Crash”. The executive thinks that by next year, we’ll be facing a massive dump. But there’s one key to survive this challenge: diversifying your portfolio. And if this is enough to scare the hell out of your wits, here are the newcomers that’s wise to include in your wallet.
To make it simple, Steem is a social networking site where you get rewards that is their crypto called “Steem Dollars”. On this platform, users can post their original articles, questions, or internet links. Once any of these are engaged in the upvote-downvote scheme, the author can be rewarded. The more popular the author is the more rewards he will get.
Steem Dollars are produced in a way like how people mine Bitcoin. Payment will be sent 24 hours after the upvote is recorded on the site.
Though a newcomer, SiaCoin is already a cryptocurrency on the rise, having a market cap of about $200 million. SiaCoin offers safe cloud storage so you won’t need to get hardware wallets. But before you can use the service, you first need to have at least 2,000 coins. If you want, you can let others rent you space for a certain charge.
A Siacoin unit costs a meager $ 0.0044 that makes it a less risky investment. People behind Sia are more focused on product quality than marketing it.
3. FunFair Coins
More known as FUN, this crypto is a total starter in the race. It trades for $ 0.03 per unit and it already gathered about $26 million. It’s typically used for blockchain-based casinos, the reason for its name. Funfair is its casino platform where anyone with the tokens can participate.
If you’re a total dummy, you can make use of their live demo before you jump into the casino. This isn’t the first of its kind, but it’s definitely one of the most successful few.
Monero is an untraceable cryptocurrency on the rise. It uses so-called “ring signatures” to hide your transactions. This isn’t for shady deals and it’s typically dubbed as the private Bitcoin. However, it’s undeniable that it gave a boost to the black market. But if you’re looking for security, you can trust Monero.
Monero trades for $89 today. Not as cheap but affordable as addition to your portfolio. Forget about the black market stuff since I’m sure you’re going to use this for good things. Will you?
Golem is a supercomputer that allows users to use and rent spaces to earn money. Currently, it’s ranked as the 10th most valuable crypto on the web. It serves like the “Airbnb” of the cloud-computing world and experts have a very bright forecast for this digital currency.
If you have a large project that will require large amounts of computing, you can make use of the Golem platform. But you have to possess enough amount of Golem tokens to enjoy the service. If you’re familiar with Ethereum, it works somehow the same.
Factom is one of the promising cryptos as it’s built on top of the Bitcoin blockchain. This means that no one can shut down Factom because a network, instead of individual users, runs the crypto. Unlike Bitcoin, Factom isn’t used as a typical mode of payment. It’s a large hash of medical records, voting systems, and applications, and sometimes even more.
Factoid is the actual currency of Factom, as to how Ether is for Ethereum. Though Ethereum’s smart contracts lure many, Factom answers some of the needs can’t be found on the latter platform.
Ripple (XRP) is a payment protocol that allows a user to reduce the amount to be paid and with less processing time. If Bitcoin can settle a transaction in 10 minutes, Ripple can finish it in a matter of real-time seconds.
But Ripple isn’t your typical cryptocurrency on the rise. It’s centralized and pre-mined for the purpose of peer-to-peer use. Big banks are starting to incorporate this as well as some venture capitals. Ripple trades at $0.23 as of this writing.
Zcash is the child of Bitcoin. However, it features a more secure environment through its ZK-snark network. It allows transaction anonymity that raised some eyebrows in the crypto world. Still, it’s less risky than Monero. But like Bitcoin, it’s set to be on a market cap of 12 million and all transactions are recorded in a ledger minus the identity of users.
Right now, Zcash trades for $229 strong and has a circulating supply of more than two million units. If there’s a perfect time to mine this, it would be today.
Ark is known for its Smart Bridge, where you can collect produced apps out of their own blockchain. Here, you can improve the apps’ functionality. You can even execute an Ethereum smart contract here. Its developers aim to produce a link of chains that will be a one-stop answer to its users’ needs.
Ark trades at $2.64 today with almost 98 million of its 129 million supply already mined. One best thing about Ark is it only takes eight seconds to settle a transaction. Buy a few coins and see how it will fair on your portfolio next year.
You can also manage Ark using its Desktop Wallet and Ledger Nano S device.
Taking in a cryptocurrency on the rise is a wise move since you’ll never know when it will be the next Bitcoin or Ethereum. Though the “Big Crash” is appalling, you should have a concrete plan with your new investments aside from being your fallback on the controversial prediction. Do you know more of these cryptos? Let us know!