Best Cryptocurrency to Invest: Considering the Digital evolution of man, it’s only natural that we have Cryptocurrencies (digital currencies) now, replacing the traditional ones.
Now there are quite a few cryptocurrencies making their mark in the digital sphere out there, but the only thing “common” to most of them is that they are digital, and maybe function on Blockchain! (Most do, if not all!)
Apart from that, their infrastructure, security, future, and everything else differs vastly.
Best Cryptocurrency to Invest 2017
So we’ve compiled this list on the 7 best Cryptocurrency to invest in, taking into considerations various market as well as currency-specific factors and data which we will explain throughout this piece.
Bitcoins are the “hot potatoes” right now! The answer to “Why” lies in this simple graph
As you can see, it went from $500 to $3000 in just one year! Well that’s 6x times your investment!
Meaning if you had $75,000 worth of BTC in Jan 2016, you’d be half a millionaire right now!
Not to mention that just $100-500 investment back in 2009 when it launched, would’ve made you a millionaire for sure and nearly a billionaire. (Even by June 2015, you could buy it for as low as $0.07/BTC!)
Also, it broke all records this week by touching $3000! The only crypto to have made that mark!
Limited Supply – The reason Bitcoin stands out from the crowd in its own unique colour and shape is the fact that it’s “Limited”!
Well yeah! Unlike a lot of other cryptocurrencies out there which can be produced endlessly on a supply & demand basis, Bitcoin is capped permanently at 21,000,000 BTC.
So no matter what’s the demand or how many people want it, the world won’t ever see a bit more than 21,000,000! Naturally, anything which is “limited” is ever more valued than something which can be procured endlessly, isn’t it?
Market Capitalization/ Circulating Supply – The current Market value of all the Bitcoins on the network is exactly $42,903,444,374 or 16,400,650BTC exactly.
So that is yet another factor which makes it my currency of choice when I’m deciding the best Cryptocurrency to invest in 2017! It already has acquired quite the market, with only about 70% of the BTC been mined so far.
24 Hours Volume – $1,506,060,000 worth of Bitcoins have been traded (bought and/or Sold) in the last 24 hours alone! Considering it’s a Digital currency and still not in every corner of the world, that kind of volume is just a confidence booster.
Note that only “Trades” are considered while calculating the volume, and not the “withdrawals or transfers”.
Poloniex (LTC/BTC) , Bittrex, and Poliniex (ETH/BTC) again are the three major Bitcoin traders responsible for 8.90%, 5.05%, and 4.57% of the total trade volume respectively.
Final Verdict – Any investment isn’t 100% full-proof. That’s the reason they are called “investments” and not “Money-multipliers” or something like that.
Bitcoin is no different. But considering we’re talking about “cryptocurrencies’, one fact that can be claimed from the data and past history is it clearly is the “most profitable” among the available best cryptocurrency to invest in 2017!
Van Petersen, one of the most acclaimed strategists on the planet has speculated that Bitcoin price would reach $100,000 in the next 10 years!
How? Well he has explained the exact numbers and figures which lead up to his conclusion of that figure, which can be found on this CNBC post!
Some Bitcoin Cryptocurrency Popular Article for you!
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Ethreum is the cut-throat competitor Bitcoin has. Although they both are “Cryptocurrencies”, the purpose of why they were invented differs widely.
Bitcoin was invented with the sole purpose of replacing “traditional currency” by offering better security, anonymity and P2P exchanges.
While Ethreum too boasts those features, its primary intention isn’t to overtake the traditional currency, instead it focuses more on its “smart contracts” and other features.
Anyway, getting into the difference isn’t the motive of this post, let me illuminate the fact why Ethreum is one of the best cryptocurrency to invest in 2017!
a). Current Trend – As the following chart should explain, Ethreum was just launched couple years back, and from then it has only skyrocketed.
Only in the last couple months, its value has multiplied itself 4-5times over! Again a millionaire maker for the early riders.
Right now it’s priced at $376/ETH. Considering it was $40 just in April, 2017 the price is predicted to hit four figures by the end of this year.
b). Market Cap – Ethreum’s current market cap is 34,904,016,009 USD, which isn’t very far off compared to Bitcoins.
If we take a look at ETH’s market cap graph, we would find that it’s almost identical to its price graph unlike the case of Bitcoins.
But we also have to keep in mind ETH’s unlimited supply and production compared to the limited number of Bitcoins out there.
c). Volume – Ethreum’s last 24 hour volume was exactly $733,043,000. Considering it’s only a year old currency, I’d say that’s a pretty good number of trades for one day.
Infact it’s my second choice of best cryptocurrency to invest in 2017 because Bitcoin is nearly 6 years old now, and still Ethreum managed to push itself to half of BTC’s daily volume in just a year!
d). Circulating Supply – Even though Ethreum can be produced as much as needed, its current market circulation is 92, 637, 709 ETH exactly, which translates to around $338,276, 3785! The only currency to touch the Billion dollar mark after Bitcoin.
e). Backed by Fortune 500 Companies – And if you’re still skeptical, let me tell you that some of the best names on the planet, including
- JP Morgan etc.
Have shown their faith in the currency.
If you’re worried that you missed the early wagon in case of Bitcoin or Ethreum, well you might as well catch the Ripple train.
Ripple was launched in 2012, and honestly the price hasn’t skyrocketed as much as Bitcoin or Ethreum, well so why did it make this list of best cryptocurrency to invest in 2017?
Because, even Bitcoins were priced around $200 back in 2015, 6 years after their launch! So researches believe that ones the currency has reached a stable ground, it might have a future similar to BTC or ETH.
The prediction is based on the fact that, Ripple’s primary aim is to “do for money, what the Internet did for “information” (Source:- Ripple Blogpost).
In simpler English, to offer people across the globe a fast, free and decentralized transaction infrastructure, void of the delays and transaction fee levied by the banks.
a). Current Trend – Right now, Ripple is almost mimicking BTC in its early days. With frequent ups and downs, but “ups” being the final go as you can make out from the chart.
It’s priced at a mere $0.33217/ XRP! So no doubt “now” is the time to invest.
Simply because, even if you lose, you won’t be losing a fortune, but if you gain you’re on the way to make a few hundred K’s if not millions!
b). Market Cap – The current Market Cap for Ripple is $12,716,850,054. It’s 1/3rd of ETH or even lower if compared to Bitcoin’s, granted! But it’s still a “green light” because of the fact that despite being priced extremely low, it has an overall valuation equal to 1/3rd of ETH’s!
c). 24 hour Volume – $751,712,000 worth of Ripple has been traded in the last 24 hour itself! Clearly goes on to illustrate its market value!
Coinone is responsible for 26.77% of trades in the last 24 hours, while Poloniex for 15.05% so those two platforms can be used seamlessly for trading Ripple if you wish to do so.
d). Circulating Supply – Talking in terms of USD, the total XRP in circulation is still not very significant. Although in terms of XRP it’s 38,290,271,363 which is a pretty good figure.
Every digit of that XRP currency is a chance for you to invest on it, and once it grows your investment would grow along with it.
e). Total Supply – Ripple considers itself not a “rival” to Bitcoin, rather a “Compliment” to it. So following in the same footsteps as BTC, Ripple too aims to limit itself to 100 Billion!
Out of which, only 50Million would be out for public circulation. So if you wish to be a part of Ripple’s future, now is the time.
f). Ripple Markets You can Use for Trading
LiteCoin has launched 5 years ago, and although it’s considered similar to Bitcoin in many aspects, it’s not identical.
Being honest, some of its features like Segregated Witness, and Lightning Network make it better to Bitcoin in many regards.
Although the problem of orphaned blocks isn’t to be ignored if we’re comparing it to Bitcoin.
Its primary target is to facilitate faster transactions, at almost non-existent costs!
a). Current Trend – Currently, it’s priced at $47.13, and if you look at the price graph you’d notice that it suffered a bit of a nose-dive from mid-2013 to Jan 2017.
But what makes it worth being one of the best Cryptocurrency to invest in 2017 is the fact that it not only recovered but surpassed its loss as well as earlier position in less than 6 months! And it’s only going up.
b). Market Cap – Litecoin’s current Market cap is USD $2,380,384,949, and that’s only for the 60% of Litecoin’s which have been mined already! This figure is likely to multiply several times in the near future as more of LTC are mined.
c). 24 Hour Volume – More than half a Billion dollars’ worth, $571,097,000 to be exact has been bought and/or sold in the last 24 hours!
OkCoin and Huobi are the major traders responsible for trading 21.02% and 14.81% of LiteCoin in the last 24 hours.
d). Circulating Supply – Currently 51,647, 157 LTC is in circulation. Being priced at $40/Litecoin, you can do the math in terms of USD.
Considering the current trend, each LTC is an opportunity for you to invest your money on, which is expected to hit 100-500USD in the near future.
e). Maximum Supply – Litecoin is permanently capped at 84,000,000 LTC. And as already mentioned, only around 60% of the LTC is out for now.
f). Trading Markets for LiteCoin you can Use
- OkCoin.cn- 21.29%
- Huobi – 14.91%
- Poloniex- 11.04%
Monero is currently the 6th most traded cryptocurrency, thus clearly justifying its presence on this list as one of the best cryptocurrency to invest in 2017.
2016 saw a huge boost for Monero pertaining to the fact that it was adopted by Alphabay!
Monero isn’t a fork of Bitcoin like most other cryptocurrencies out there, instead is based on the Cryptonote protocol.
Hence there’s considerable difference between Bitcoin and Monero, thus presenting you with a “different” opportunity and scope, even though both of them are cryptocurrencies, they are likely to have very different future and outcomes.
The primary motives behind the launch of Monero were Stability, Decentralization, and Privacy!
a). Current Trends – Currently, Monero is priced at $48.17. And the chart below indicates a steady growth over the past 3 years.
b). Market Cap – Monero’s current market Cap in terms of USD is $706,145,634.
c). 24 Hour Trade Volume – Despite being priced at $40, Monero still managed to trade $14,799,300 in the past 24 hours!
Monero, if hypothetically taken to be $2600 (value of BTC) would come out with a hypothetical trade volume of around $961,953,200.
I scribbled that figure down to emphasize the potential Monero holds once the price reaches anywhere near that of BTC’s ($2600).
d). Circulating Supply – After being out of the womb for 3 years, Monero’s current circulating supply in the market is 14,660,088 XMR.
Trading Markets for Monero
- Poloniex – 48.42%
- Bittrex- 8.55%
- Kraken- 6.21%
Dash first saw the light of day back in the 2014! The same year as Monero. Dash actually means “Digital cash” in the actual term.
It’s the 7th most traded currency, holding the position just below Monero.
Dash’s primary weapons are “PrivateSend” and “InstantSend”. PrivateSend offers better anonymity, and privacy for transactions, while InstantSend focuses on making transactions as fast as possible.
Current Trend – Dash is currently priced at $187/ Dash. It’s not as cheap as Monero but then again it’s not intended to be.
Infact how low or high a currency is priced has negligible effect on how good it is for long-term investments. For eg. Bitcoin is soaring high with its price, it’s still a #1 cryptocurrency to invest in 2017, isn’t it?
Here’s a graph of Dash’s current trend
As you can see, it suffered a nosedive some time back (as in the case of most currencies at some point in their existence) but it’s picking up the pace quite well again!
24 hour Trade Volume – As far as the trade volume for Dash’s last 24 hours is concerned, they traded well over $38,887, 200.
xBTCe is responsible for trading 17.39% of Dash in the last 24 hours, while Poloniex for 16.20%. Bitthumb too managed to get a big slice, 15.44% to be exact!
Circulating Supply – This is the 3rd year of Dash’s existence, and in this short period of existence itself it has managed to circulate 7,376,176 DASH!
Considering the price and circulating supply aren’t overwhelming right now, it surely becomes one of the best cryptocurrency to invest in 2017.
As the price rises, so will your investment.
Total Supply – Dash can’t be produced endlessly, and is permanently capped at 18,900,000 Dash. Right now only 39% of the total available Dash has been mined.
So Dash still has a H-U-G-E potential left both for the investors, as well as traders focusing on short-term goals!
Market Cap – The current Market cap for Dash is $138, 282,066, 778! That is just impressive considering how over 61% of Dash still is unavailable! This market cap is just on the 39% of the available Dash!
Trading Markets for Dash
Dogecoin is our last choice of best cryptocurrency to invest in 2017! Even though it’s the last on this list, let me tell you we chose to place this at #7 out of a list of 700+ cryptocurrencies!
So yeah it’s no less than any other of its rivals over here.
Current Trend – The graph below is a great illustrator of the popular phrase “To the moon”, which has been associated with DodgeCoin by its users.
As is clear, the graph after being stable 4 years, suddenly has started its upward flight!
24 Hour Volume – DogeCoin has traded $13,090,700 in the last 24 hours!
The top position being dominated by Poloniex, with 10.84% of the total volume, followed by BitFinex and OkCoin trading 3.93% and 2.94% respectively.
Circulating Supply – After being launched in 2013; in the 4 years of existence, it has already circulated over $100BILLION DogeCoins into the market!
In fact, it went on an initial “production frenzy” and circulated 100Billion DOGE coins in the initial 2 years itself!
The exact number being 109,910,578,527 DOGE as of today.
Total Supply – DOGE isn’t limited, and after circulating over a 100 billion DOGE already in the initial 2 years; now they have taken up the trend of producing 5 Billion DOGE every year!
Trading Markets for DOGE – You can trade DOGE by below given some popular trading platform.
So that’s a wrap up as far as best cryptocurrency to invest in 2017 are concerned folks!
I’ve tried my best to make this piece as data-rich as possible; and I still would claim Bitcoin to be the best cryptocurrency to invest your money in!
But feel free to check out the other options as well. Although here’s a final tip:- “Never invest more than you’re ready to lose”! Applies both for crypto as well as the stock market, that’s the golden rule!
Do let me know your own verdict, which coin do you think is the best cryptocurrency to invest in?