Top Cryptocurrencies to Buy in 2018
Searching for the next coin to purchase from a cryptocurrency exchange can be a truly daunting task with well over a thousand tokens currently in existence. Considering that almost half of the cryptocurrencies that had their initial token sales in 2017 have already failed, it becomes clear why you must do your research before purchasing a crypto if you want to make a profit instead of taking a loss. To help improve your finances, particularly those related to crypto assets, check out these top cryptocurrencies to buy in 2018.
How to Choose a Cryptocurrency to Buy
Before exploring specific cryptocurrencies worth buying in 2018, take some time to familiarize yourself with the factors that determine which are the right ones to purchase. There is no shortage of helpful advice online designed to help you develop a strategy for selecting cryptos to buy. Every single expert will suggest you do your research and read about a cryptocurrency before buying it. You should also confirm the crypto:
- Is easy to purchase;
- Has numerous storage options;
- Has a strong marketing campaign;
- Solves an actual problem. The token itself should also have a use instead of just being a fundraising mechanism.
With those factors in mind, keep a close eye on these top cryptocurrencies to buy in 2018.
Bitcoin (BTC) remains a top choice to purchase, even in 2018, provided that you time your purchase right. Because Bitcoin was the very first cryptocurrency, experts argue that its brand is the best known, which dramatically improves its chances of longevity. When it was first launched in 2009, Bitcoin had essentially no value and there weren’t any exchanges or markets to buy it on. In March 2010, when the first market opened, it began at $0.003 USD. Within 2017, prices for Bitcoin ranged from about $900 to nearly $20,000, specifically $19,783.21 on Dec. 17, 2017. As of April 3, 2018, it is at $7,393.62, a nice middle ground that leaves room for growth.
Some strong points in favor of Bitcoin investments include its top rank for 24-hour volume in USD ($5 billion) and top market cap ($124.9 billion). If you look at price predictions for Bitcoin in 2018, you will find figures of between $24,000 and $250,000. No matter how you look at it, that would lead to a profit that you can maximize by buying Bitcoin now when the price is lower.
Another incredibly stable option experts regularly suggest investing in is Ethereum (ETH). Ranked number 2 for 24-hour volume in USD ($1.2 billion) and the market cap ($39.5 billion), Ethereum provides a blockchain network and is Turing complete, giving it the ability to function similarly to a global computer. The main pull of Ethereum is its practicality in running distributed applications. Ethereum is such a strong investment option that there are hundreds of tokens built off of this network, known as ERC-20 tokens.
During the Ethereum presale, the price was at 2,000 ETH per 1 BTC, or about 2,000 ETH for each 600 USD. In mid-January 2018, it hit its all-time high of $1,430.81. As of April 3, 2018, the Ethereum to USD price is at $401.00. Compared to that all-time high, it is clear that Ethereum offers plenty of room for growth and deserves its title of “promising” that many experts have given it.
Ripple (XRP) was among the top performers in 2017 and is one of the top-ranked cryptocurrencies. Its 24-hour volume of $448.3 million and total market cap of $21 billion put it in the third place. For those who want to buy cryptocurrency but do not have a great deal of fiat to spend, Ripple is an excellent choice because of its low price. As of April 3, 2018, 1 XRP costs just $0.539. The positive of this is the minimal barriers to entry, while the downside is that the price will likely stay relatively low because of the large market supply.
Ripple is popular because of its utility as a way for banks to settle payments across borders in real-time and in a cost-effective manner. More and more banks experiment with Ripple, and you can trade it on most major exchanges. While price predictions vary for XRP, some say it may wrap up 2018 at about $10, in which case you would make a very nice profit if you buy Ripple now.
Litecoin (LTC) was launched in 2011 and adapted the code base of Bitcoin to improve the payment speed while improving transaction capacity and delivering incredibly low fees. Litecoin also recently introduced LitePay, which lets Litecoin holders spend it like fiat currency using a prepaid card that bears the Visa logo. Predictions for Litecoin’s price this year went up in anticipation of LitePay, but the LitePay project has already stalled, with its CEO selling the project. Based on this, the future of Litecoin becomes a bit more uncertain, but experts still overwhelmingly agree that it is a solid investment.
After all, Litecoin has the fifth-largest market cap, about 6.9 billion USD. The daily volume is $278 million. It also has a strong history, including the honor of being the first cryptocurrency that performed a Lightning Network transaction. As of April 3, 2018, Litecoin is at 123.90 USD, making it easier to invest in than Bitcoin and Ethereum, but requiring a larger investment than Ripple.
Other Cryptocurrencies to Consider
In addition to the above cryptocurrencies, experts also recommend the following as solid choices to buy in 2018.
- Monero (XMR) with a market cap of $2.94 billion;
- NEO (NEO) with a market cap of $3.36 billion;
- Cardano (ADA) with a market cap of $4.22 billion;
- IOTA (MIOTA) with a market cap of $2.99 billion;
- Bitcoin Cash (BCH) with a market cap of $11.76 billion.
Despite our recommendations, choosing the top cryptocurrency to buy in 2018 is somewhat of a personal financial decision. You must decide if you want to buy cryptocurrency as an investment or simply to become part of this growing phenomenon. The top-ranked cryptocurrencies in terms of market cap tend to be the most reliable investments, although you can also find an ICO with a worthy token. Provided you do your research, investing in an ICO can be an excellent way to make a solid cryptocurrency purchase and do so with a minimal initial investment.