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Month: July 2017

Cryptocurrency coins that could make you a millionaire

Cryptocurrency coins that could make you a millionaire

Cryptocurrency coins that could make you a millionaire

Cryptocurrency is becoming more and more popular.  More people are aware of them and many more people are starting to use them, just like when internet was first invented.  At the moment, I guess there are less than 0.1% of the world population has any idea what is cryptocurrency. Cryptocurrency trading or investing could be very lucrative.  Many had became millionaire within few months time and many more millionaire will be created in the near future.

Since cryptocurrency is still at its infancy, so if you get into it early there will be more chance for you to make money.  For me, I only started to look into it just a couple of months ago.  As I learned more about them, I realize the potential to make money.  Digital currency are here to stay in the future and we will be no longer using paper money anymore.  Most money are already stored in digital form already and also transactions are make in digital form – we use our credit card or phone to make a payment, no physical money is involved.

At this moment, the market capital of all cryptocurrencies amount to 100 billion US dollars, it is not a small amount.  This figure will go higher as more people are investing into it.

There are 5 digital coins which are very cheap and they could make you a millionaire if you invest in them.  I am not suggesting they will definitely increase in value since I cannot foresee the future.  I am just telling you the possibilities.  There are few reasons that they are good investments.  Firstly, they are all valued under US$1 and they are all belong to the largest top 50 in terms of capitalization.  Also, the daily trading volumes are high, from 3 million US dollars up to the highest 24 millions.  The reason people are interested in them because they are good investment and they have good technologies behind each company.

I will start with the coin which has the highest trading volume. The figures are taken at the time I am writing this article.  The reason I suggest them is because of you don’t need a large investment to buy the coins.

BitShare

BitShare (BTS), current value $0.125765  and 24 hour trading volume 24 Millions US.

DigiByte

DigiByte (DGB), current value $0.016017 and 24 hour trading volume 10.2 Millions US.

Stellar Lumens

Stellar Lumens (XLM), current value $0.016173 and 24 hour trading volume 4.3 Millions US.

Nxt

Nxt (NXT), current value $0.099094 and 24 hour trading volume 3.4 Millions US.

IOTA

IOTA (MOITA), current value $0.260440 and 24 hour trading volume 2.96 Millions US.

As you can see there are millions of dollars changing hands on these coins, it indicates people are interested to invest in them.  Some countries are starting to use some of these coins in their economy, such as USA, Japan, China and some parts of Europe.

If you are interest to invest, you can visit CoinSpot where you can buy these coins.  They are a reliable merchant which operates in Melbourne, Australia since 2012.

If you are interested to know about the coin market, you can visit https://coinmarketcap.com to see the listing of all the coins which are available.  You will be surprise by the big number of coins there is.

Invest in Cryptocurrency Australia – top 6 best crypto coins

Invest in Cryptocurrency Australia – top 6 best crypto coins

Invest in Cryptocurrency Australia – top 6 best crypto coins

Before I tell you my best choice for anyone who wants to invest in cryptocurrency, I want you to know that I am not an investment adviser or I have any qualification in this area.  So any investment you make is your own decision and whether you make money or not is non of my business.

The picks I am going to make are base on sound logic, analysis and observations.  My advice is you should invest in a long-term perspective and don’t trade short-term, because the cryptocurrency market is very volatile.  Swing of more than 50% of the value is not uncommon in this market. But I do believe if you hold the coins long enough, you are going to make some money.

Ethereum

It should be no surprise to you that this is my first pick.  The reason is they have a very good team working on this project and are all professionals.  They have experience and the expertise to make it successful.  Also, they are backed by some big companies like JP Morgan, Intel, Microsoft and others.  This coin’s market capital has risen to number 2 position just behind bitcoin.  Some people believe it will overtake bitcoin and I think it is no surprise.  The attraction in investing in this coin is the potential to make money in a long-term and the prospect is better than bitcoin.

More information can be found at Ethereum.org.

Ripple

This coin has a very good marketing team as well as their innovative idea of saving money in cross border transaction for banks in all countries.  As of this moment, there are many banks who are already trying the Ripple technology.  There are also 9 countries who is implementing Ripple in real production. It is currently sitting at number 3 position of market capital behind Ethereum.

This company has great prospect to make it more successful in time even though the current price of this coin is not high, but I do think it will change.  How high will it goes which I don’t know.  More information can be found on Ripple.com.

Litecoin

This coin has the same technology as bitcoin, but as it’s name suggest it is lite (light).  What it means is the load on the network is not as heavy as bitcoin.  Bitcoin currently suffers a lot of problems.  For example, the transaction time is getting longer and longer, currently it takes more than 10 minutes for a transaction to settle.  Also, the blockchain is getting longer and longer each day as more transactions come in and added to the chain.  There are many proposals on how to make bitcoin a better coin with faster transaction time.

Will Litecoin replace bitcoin later, no one really knows. But the popularity of Litecoin is soaring day after day.  The price of this coin have increased 10 times in just a few short months since March this year.  The market capital is currently on number 4th position.  More information can be found at Litecoin.com.

Monero

The attract of this coin is it protects the identify of it’s transaction.  No one can trace the transaction as where or who it is coming from and also where it is going to.  The way it does that is it hide the sending address and receiving address, also the amount of the transaction by it’s unique technology.  Therefore, it is welcome by people who want privacy.  Hence, it is most popular in country where there are tons of black money.  It is currently sitting on the 9th position.  More information can be found at Monero.org.

Golem

If you have heard of share computing, then Golem is using this technology and taking it to a new height.  The Golem Network is a decentralised sharing economy of computing power, where anyone can make money ‘renting’ out their computing power.  In plain English, if a business wants to run some calculation intensive programs, they can pay other people on the network by distributing the job to thousands of computers within the network and the job can be done quickly.  It is a remarkable idea.  Your computer can make money when you are not using it – isn’t that great?

It is well receive by most people because this idea is simple to understand and it has real application.  Currently, it is sitting on 22nd position, but I believe it has good potential to go higher in the ladder. More information can be found at Golem.network.

MaidSafe

The MaidSafe technology is decentralise database.  Instead of storing data on your computer, with maidsafe you can encrypt and upload it on the decentralise server.  No one can access your data without your permission and is 100% secure.  It is better than the current cloud storage because of the decentralisation and encryption.  You can participate by connecting your computer on the network and provide storage space for other people.

They have an amazing team of people working behind this project.  It is sitting on position 31, but it has huge potential to do better in the near future.  More information can be found at MaidSafe.net.

Conclusion

Technology has come very far, but seldom is such an abundance of innovative ideas behind the creation of all these digital currencies.  I have picked only 6 of them doesn’t mean that I don’t think the others are not good.  In fact there could be other coins which will perform better than these one I chosen.

We are living in an amazing time and I do believed that we can surely make money from investing in digital currency.

If you are interested, you can click on the banner below to sign up and buy these coins.

Good luck!

Coinspot Australia

How to Invest in Cryptocurrency

How to Invest in Cryptocurrency

How to Invest in Cryptocurrency

You want to invest in cryptocurrency but don’t know how to start.  There are lots of scams on the internet and you really need to do your homework as to understand what you are investing.  Below is a good video which will give you some tips on what to watch out for.  Then I will summarise and comment on what they told you in the video.

Before we start, there are two terms that you need to understand.

ICO (Initial Coin Offering) –  It is an event which a new cryptocurrency project start and they need to raise money for their operations.  So they will sell their first batch of cryptocurrency (or called coin, token) in the market to the prospect investors. Most ECO raise money in Bitcoin or other cryptocurrencies.  Then these coins can be freely traded in the market.

White paper – A report that informs readers about a complex issue and provides a solution.  It is used by marketers to educate their prospect customers explaining a particular methodology. As for the white paper of cryptocurrency, they are very hard or nearly impossible for a lay person to understand.  Here is an example – The Ripple Protocol Consensus Whitepaper. Ripple is one of the most popular coins besides Bitcoin and Ethereum.

I am interested in Ripple and I have invested some money into it.  I will use it to give you examples below.

The advice from the video abovehow to invest in cryptocurrency.

  • The first and most important advice.  Do not invest any money that you cannot afford to lose.  Because nobody knows what will happen to cryptocurrency in the future and will bitcoin still exists in 5 to 10 years.
  • You can visit the website of the company.  Example – Ripple.com. From the website, you can find information about this coin.
    • The CEOs of this company and who are they, what are their backgrounds?
    • What problem does it solved in the real world and does it make sense?
    • Who are their customers?
    • Where is the headquarter of the company?
    • Does this business has a good future?
    • Check out the forum and see if they are responsive?  Also, what people are asking in the forum?

Besides the website, you can search for other information on the internet.  For the popular coins, you will be able to find tons of materials.

In the video, they said “do not believe what other people tell you.”  I think it is only half true.  We should believe others when what they said make sense, or we use our only experience to judge what they said to be true or untrue.  My advice is always listen to both side of the story and you will be able to make a better judgement, don’t be biased.  Besides this, most of the advice they give in the video is sound and logical.

Investing in cryptocurrency is the same as other investment, but cryptocurrency is apparently more risky.  With more risk, it gives you more rewards.  As an example, if you have brought Ripple coins when it first issued, then you would have make a lot of money.  Because of this, many people are willing to take the plunge to trade or invest into it.