I made a similar list before about the rising cryptos you should have on your wallet by next year. But before the year ends, I would like to create some sort of a ceremonial list about what to look forward as promising cryptocurrencies for 2018.
Some included in these lists are oldies but still goodies when it comes to bringing you passive income through speculative investments. You might already have some of these in your portfolio, but I guess it’s worth reading year in and year out. Dumps can get the best out of our investor selves, and it’s just fitting that this list becomes a reminder that despite the spiraling fall we experience in the past months, some cryptos are still worth investing for.
Here are seven that I listed which you should try exploring:
No list will be complete without the ‘Big Daddy’. It’s a staple investment regardless if you’re a newbie or a long-time investor. Bitcoin trades at the $5,000 mark and inching closer to $6,000. It might not be a wise move to buy during a pump but no one knows if Bitcoin will be in a big dump soon. This crypto is gaining so much traction and there’s no stopping now.
With all the exchange platforms and forums, it’s easier as ever to invest in Bitcoin. Much has been said about the potential of the crypto and while it carries its own bag of risks, speculation can still earn you a small paycheck.
On October, Bitcoin experienced a $300 slip but showed sharp recovery days after. The spotlight is still on Bitcoin and it’s not yet late to start your own investment. Experts forecast that it can reach the $10,000 mark by next year.
Ethereum exhibited a quick climb on the top three years after Vitalik Buterin launched the platform. It’s a whirlwind of acceleration that Bitcoin was given a run for its money at some point. Though young, Ethereum is one of the promising cryptocurrencies for 2018. Dozens of Fortune 500 companies established the Ethereum Alliance to support the blockchain platform.
Right now, Ether trades at $307, which is massive from its initial price that’s approximately $0.4 in 2014! Since there’s no way but up for Ether, investing right now is a perfect time. Its platform is gaining traction too aside from the currency and more investments are expected in the following years.
Multi-million companies including banks and financial institutions are tapping Ethereum to build a more secure system for their transactions. That might be close to Ripple, but with the fiasco the latter is in, Ethereum might be the smartest choice.
Lisk has a big similarity to Ethereum. It has its own decentralized platform where users can create applications using side chains instead of smart contracts. Lisk has its own unique Lisk App SDK Framework which is somehow its version of smart contracts.
Lisk trades at almost $5 today and its future lies on the popularity and usage of the platform. Like Ether, Lisk can’t be used to buy goods the same way as Bitcoin. You can only use it in the Lisk platform unless you’ll trade it in an exchange site.
But the advantage here is that Lisk is less risky than other promising cryptocurrencies for 2018. Investing small amounts here wouldn’t hurt and can give you larger gains in the future. If you’re a developer, this will be a perfect environment as developer turnout is high in the Lisk platform.
One of the major enemies of cryptocurrencies is hacking. No matter how you secure your wallet, some sneaky ones can find ways to steal your investments. This is what Golem serves to answer. Instead of putting you in an internet space through server farms, Golem will create a piggybank-like collection of devices. This will result in less hacking incidents and a foolproof system.
Such idea is quite simple but undeniably luring. The first Golem ICO was sold out in less than an hour. Right now, it trades at less than a dollar but with 6,000% spike in price in just a year, we’re seeing a massive pump.
Majority of Golem’s trading activities happen in the Poloniex site where you can also buy units if you want. Though a youngster among the first cryptos listed here, Golem is taking large strides with its genius blockchain idea.
Litecoin is an altcoin launched in 2013. Though starting out, it has a massive market cap of more than $1.7 billion. Bitcoin is undeniable shaken with the fact that experts dub Litecoin as the silver to Bitcoin’s gold. True enough, Litecoin, as one of the promising cryptocurrencies for 2018, has a large similarity. It can be used on peer-to-peer transactions the same way you’ll use Bitcoin.
Charles Lee surely benefited from the premature arrival of Bitcoin. Litecoin seeks to answer the flaws of the first crypto but with the same ease and convenience. I think the major edge of Bitcoin here is that Litecoin is just trading for about $59 compared to Bitcoin’s $5,600+ value.
In Litecoin, every transaction that’s confirmed and verified will serve to strengthen the system. This is where Litecoin excels the most. You can mine Litecoins until the $84 million supply is reached. The finite supply of Litecoin is quadruple with that of Bitcoin.
Sia is a storage site where you can rent spaces for your files. All your files uploaded here will be encrypted for safekeeping. So how can you make money out of it? You can rent a large space and let others rent the excess space from you. Basically, you’ll need at least 2,000 Siacoins to avail this service. In this era hounded with web security woes, you can make use of the Sia platform as one of the promising cryptocurrencies for 2018.
Google Drive and other storage platforms can offer you storage space, but sure enough, these are all centralized and prone to hacking. You can use MaidSafe and Storj but I think nothing beats the blockchain technology of Sia when it comes it comes to file security.
Right now, it trades on a very low $0.004. It’s very affordable and investing right now will be a wise choice.
If you’re fond of blogging or sharing content, you’ll enjoy investing on Steem. You don’t have to mine to earn this and basically, your investment will be time and energy to earn Steem Dollars. Steem Dollars is earned in the Steemit platform through upvoting content like that of Reddit. Once you earn substantial Steem, you can convert it to Bitcoin, then to legal tender after trading.
Right now, Steem trades at $0.9. It’s a low price but a low-risk investment too. If you can write nice content even without the knowledge of cryptocurrency, you can make money here. Steem is a bit undervalued right now but if you discover the platform, it can be your favorite investment.
It may take an effort to translate it to fiat money, but once you’re in the wagon, you’re going to earn a humble paycheck.
Having these promising cryptocurrencies for 2018 on your portfolio can give you more gains in the coming year. Remember to invest only what you can afford to lose. If you do well, we will be glad to hear from you!