Looking for the best cryptocurrencies to invest in May 2018?
April has been a great month for cryptocurrency - the market’s looking better, Bitcoin has increased dramatically and there’s more optimism overall.
So this guide will run through the most promising cryptocurrencies to watch this month, the reasons why and how you can invest in them…
Cryptocurrency Market Outlook In May 2018.
After the influx of bad news this year, the cryptocurrency market is looking up now...
Investors are becoming more optimistic, as Bitcoin continues to rise and more hype surrounds around the industry.
Now when it comes to pricing, the crypto market depends on news:
The better the news, the more a cryptocurrency’s price will spike.
So in terms of which altcoins to invest in, I’ve listed my top 5 best cryptocurrencies to invest for May 2018 below - and the reasons why...
Note: I’ve listed each of these cryptocurrencies based on upcoming news and updates - however it’s important to do your own research too.
The cryptocurrency market is volatile, so never invest in a coin you don’t truly believe in.
Top 5 Best Cryptocurrencies To Invest In May 2018.
1. Bitcoin Cash (BCH)
Bitcoin Cash has a hard fork planned for May 15, with some significant upgrades to its existing technology. The hard fork will mean that Bitcoin Cash forks to Bitcoin ABC.
The Bitcoin ABC fork will allow bigger block sizes, rising to 32mb.
But why would that create a spike in pricing?
Well, bigger block sizes means that BCH becomes more scalable, with “Paypal-like volume of payments”. Therefore it’s more likely to be adopted on a larger scale, which means more investment and more mainstream potential for the coin.
Bitcoin Cash’s price has already pumped significantly in April, and this could continue with the upcoming fork.
2. OmiseGo (OMG)
I’m a big fan of OmiseGo already, but May could be a great month for them too.
They have a ‘hardspoon’ coming up - taking place between Cosmos and OmiseGo.
If you don’t know what a hardspoon is, here’s how Ethereum’s founder Vitalik Buterin explains it:
“A hard spoon is a meta-protocol on top of a blockchain creating a token that inherits the blockchain’s underlying token’s balances. The idea of a soft spoon would be to create two competing *branches of a protocol* within *the same blockchain*”
Essentially, this will duplicate the account balances of a cryptocurrency already in circulation.
Another reason to invest in OmiseGo in May 2018 is their upcoming Plasma Protocol launch:
This will allow the cryptocurrency to become more scalable, and increase the number/speed of transactions their network can handle.
Combining an experienced team, a strong business model, their upcoming hardspoon and the Plasma launch, I’m excited to see where OmiseGo lands.
3. Stellar (XLM)
Stellar’s had a great month in April - already rising significantly, and I expect this to continue over the next few months too…
Here’s a few reasons why I’m bullish on Stellar for May 2018:
- There could be some updates regarding their partnership with Australian startup Novatti payments
- They're promoting their brand via the Blockchain and Fintech conference with representatives from Stellar’s firm
- They’re working on building and integrating their lightning network upgrade, which will allow more transactions/speed
- We may hear more about the progress of their partnerships with IBM/BMW
- It’s already increased significantly in April, and that’s an obvious signal that more and more investors are confident in Stellar’s technology
4. Tron (TRX)
The Tron Foundation Is Expanding:Tron’s team is expanding to Taiwan, and they’re becoming part of the Taiwan Blockchain Self-Regulatory Organization (TBRSO).
They’re essentially targeting new markets, aiming to increase their market share and partnering with other organisations to raise industry standards.
Tron Main-Net is expected to launch on May 31st:
Tron will soon be moving off the Ethereum network, and away from it’s integration with ERC20.
Since launching it’s Test-Net earlier this year, their community has reacted very positively - and I expect this to continue as their technology develops.
There’s a lot of people excited about the movement of Tron on May 31st, when it’s Main-Net update launches. The Main-Net essentially means they’ll compete with Ethereum as a DApp platform.
Overall, it’s a sign of their ambition and their willingness to disrupt and innovate in the industry.
5. Cardano (ADA)
Cardano’s demonstrating strong potential for May, and paired with their strong team, they’re looking like a great pick.
Here’s a few things to watch out for:
- Huobi (one of China’s biggest cryptocurrency exchanges) has just announced that they’re listing Cardano - giving ADA more exposure to potential investors
- They’re launching the 1.2 update with added wallet security, plus they recently launched their Daedelus upgrade. Cardano’s development plans are ambitious, and they’re consistently releasing new updates
- They’re backed by Charles Hoskinson, one of the main team members involved in the launch of Ethereum
Looking to learn more about investing in cryptocurrency?
Here's a few useful links: