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.
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.
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.
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.
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.
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.
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.
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.
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