It is a very important question. But it is hard to say which is the best cryptocurrency to invest. It depends on many things actually. According to the Coinmarketcap statistics, there are more than one thousand cryptocurrencies right now in the crypto market. Bitcoin is in the top position right now.
But many more Altcoins are being added very rapidly. Some currencies are making satisfactory growth and many peoples are making money. Finding the best one to invest is not so easy to do. But I will try my best to explain my view and show you the proof. Please read the post entirely to understand it well.
Table of Contents
- 1 What are the best Altcoins right now to consider?
- 2 The best cryptocurrency to invest:
- 3 How to identify the best cryptocurrency to invest:
- 4 How to find the best Cryptocurrency to invest:
- 5 Is Bitcoin the best cryptocurrency to invest right now? :
- 6 My bought coins until 4th January 2018 list:
What are the best Altcoins right now to consider?
Ther are some altcoins who are very promising. If you have money to invest for long-term, I would suggest you some altcoins. Personally, I did investment there too and that’s why I am suggesting you check them too. The recommended coins are given below with the available ways to buy cryptocurrency:
The best cryptocurrency to invest:
XRP —– Bitstamp: Good to invest because it is cheaper than any other coins. It is available on Bitstamp, Cryptonator, IQ Option etc.
Nxt ———— It is available on Livecoin.
TRX ————- It is available on Binance.
Dentacoin —– It is available on Cryptopia
Bytecoin ——– It is available on Cryptonator
Electronium —- Available on Cryptopia
Verge ———– Available on Cryptopia
Dogecoin ——- Available on Cryptonator
Reddcoin ——- Available on Cryptonator
Tether ———– Available on Cryptopia
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How to identify the best cryptocurrency to invest:
Identifying the best currency depends on many things. Such as previous growth, circulating supply, market price, possible return within a time period etc. I am going to explain them all with pictures.
Overall Market Overview:
It is the quickest way to find the best cryptocurrency to invest because if you visit the website named coinmarketcap.com you will find an overall view of the current market condition. You can check the overall rank, circulating supply, currency price, 1-hour growth, 24 hours growth etc. Hope that will give you an overall idea. Like the picture below, you will find information like that.
Market Capital Analysis:
You may have to check the total market capitalization of the coin to understand it’s valued and it’s acceptance in the near future. Please watch the picture below to find the market capital of the crypto.
Circulating supply is also an important fact to consider while selecting the best currency. You can find the circulating supply right after the market capital in Coinmarketcap. Please refer the picture below:
Volume Based Analysis:
Volume means the total transaction volume of a currency within the last 24 hours time period. It is very helpful because you can easily check how much people are doing a transaction. Very essential to consider while selecting the best cryptocurrency to invest. For example, the higher volume indicates the higher popularity among the crypto lover. Please follow the picture below.
Growth Based Analysis:
Yeah! It is also considered as for an important fact. How was the previous growth is considered the most important method to forecast the future price. From CoinMarketaCap website, You can check the last 1-hour growth, Last 24 hours growth and last 7 days growth. Please check the picture below to find it.
How to find the best Cryptocurrency to invest:
Without proper analysis, you can’t find the best cryptocurrency to invest. You can analyze the currency by considering the currency growth, currency total market capital, currency circulating supply etc. You may find them on the Coinmatketcap website. I would recommend you to check the market price and movement regularly at least 7 days before investing in any coin. The one clue that I can give you is, you can check the Facebook groups for regular updates and you can check what is going on the market. The other clue is, you can check if the coin is minable. Because the coins which are minable are the best according to my research.
If you just click on the Coinmarketcap chart, you will find the total growth of a currency. You can also check the previous data since the beginning. That will give you a very good idea of the currency growth. The previous history is very important to justify a coin as a good coin.
Previous Historical Data:
Yeap. It can be found on the chart. I just explained it in the previous paragraph above. Please check to understand how you can be benefited by check the previous historical data.
Understand The Ongoing Trend:
The trend is your friend. Just follow some important groups about cryptocurrency and you will understand what is the ongoing trend.
Is Bitcoin the best cryptocurrency to invest right now? :
Honestly saying, I don’t think so. I think it is not a good idea to invest directly in bitcoin. You will find a lot of altcoins are available in the cryptocurrency market right now. Just check the CoinMarketCap and you will find an alternative. I think as an investor, Bitcoin is no longer such a good idea to make a good amount of money right now. The price is already $13k+.
So if the price touches $50k. It will be only around 400% increase. But if you select an altcoin that’s value is only $2, there is a possibility to reach $50 one day and you will make 2500% return. So I think, Bitcoin is not a good idea to invest. It is better to find any other altcoins and invest wisely.
My bought coins until 4th January 2018 list:
Bytecoin: 30k on Cryptonator
Electronium: 5k on Cryptopia
XRP: 575 XRP on Bitstamp
Dogecoin: 30k on Cryptonator
Tether: 95 Tether on Cryptopia
I will buy more coins very soon…..
I will update the list if I find any other good altcoins. Keep reading my blog regularly. As it is not possible to update this blog regularly, It would be fine if you could check my facebook page named -SIS Cryptocurrency. I will try my best to update regularly on my facebook page about the best and hot cryptocurrencies. You may also join the Facebook Group named “Smart Income Source with Cryptocurrency”.