Are you looking for the best cryptocurrency to invest in 2018?
The cryptocurrency market this year has been a little crazy, to say the least.
And after years of trading stocks, I’ve never seen anything like it.
So whilst Bitcoin is finally hitting the mainstream, alternative cryptocurrencies (also named ‘altcoins’) are just getting started.
This guide will run through my top 10 best cryptocurrencies to invest in 2018.
- Top 10 Best Cryptocurrencies To Invest In 2018.
- 1. Litecoin (LTC)
- 2. IOTA (IOTA)
- 3. Monero (XMR)
- 4. OmiseGo (OMG)
- 5. Ethereum (ETH)
- 6. Tron (TRX)
- 7. Bitcoin (BTC)
- 8. Stellar (XLM)
- 9. Cardano (ADA)
- 10. Steemit (STEEM)
- How I Do Choose The Best Cryptocurrencies To Invest In?
- Timing The Market In 2018.
- Long Term Vs Short Term Cryptocurrency Investing.
- Staying Secure.
Top 10 Best Cryptocurrencies To Invest In 2018.
Wondering what’s the next big altcoin of 2018?
Feel like you’ve missed the boat with Bitcoin?
Don’t worry – this is far from over.
Think about it:
Cryptocurrency is still just getting started. We’re barely scratching the surface.
Most investors are still intimidated by cryptocurrency.
So in reality, altcoins haven't even hit the mainstream yet.
It’s like watching the birth of the internet or mobile phones – there’s just so many investment opportunities.
And that’s why I’ve written this guide on the best cryptocurrency to invest in 2018.
Let's get into it.
1. Litecoin (LTC)
1.1. What Is Litecoin?
With nearly 3,000% gains in 2017, Litecoin had one hell of a year.
Since launching in 2011, Litecoin is one of the world’s most traded cryptocurrencies.
And compared to Bitcoin, it offers much faster transaction times.
It also has lower transaction fees – so it costs less to process payments.
When you scale up the fees across thousands of transactions, you can see how useful Litecoin could become.
1.2. Price History
1.3. Facts About Litecoin
1.4. Why Is Litecoin A Top 10 Cryptocurrency?
Compared to Bitcoin, not a lot of people have heard of Litecoin, unless they’re already familiar with cryptocurrencies.
However, Litecoin is catching up quickly.
It's faster, cheaper and more efficient compared to BTC.
Plus Litecoin also has the scarcity factor.
You see, cryptocurrency prices are all about supply and demand.
And with a limited number of coins available, the more people buy it, the higher the price inflates (in theory).
1.5. Is Litecoin The Best Cryptocurrency To Invest In 2018?
1.6. Why Shouldn't You Invest In Litecoin In 2018?
2. IOTA (IOTA)
2.1. What Is IOTA?
IOTA is another highly anticipated cryptocurrency.
But it's main USP is their tangle technology.
This is unique because most cryptocurrencies operate via the blockchain.
Tangle could allow more scalability and security.
Plus news is spreading of IOTA partnering with some of the world’s biggest technology firms.
This includes rumours of partnerships with Microsoft, Volkswagen and Fujitsu.
Subsequently, it's become one of the best cryptocurrencies to invest in 2018.
So as you might've guessed from the name, IOTA is targeting the IoT (Internet of Things) market.
These are basically everyday commodoties that connect to the internet.
As you can imagine, that covers millions of devices including mobile phones, cars and traffic lights.
These IoT devices are processing thousands of micro transactions every day.
So with it's scalability features, enhanced security and zero fee transactions, IOTA plans to become the token that's exchanged via these micro transactions.
The Internet Of Things (IoT) industry is only going to expand - which means more growth potential for IOTA.
2.2. Price History
2.3. Facts About IOTA
2.4. Why Is IOTA A Top 10 Cryptocurrency?
IOTA uses a revolutionary technology called Tangle – which in theory is more time efficient than other blockchain cryptocurrencies like Bitcoin.
It’s a little more lightweight and scalable than Blockchain technology too.
If you’re interested in the technical details, check out this guide to learn the differences in the blockchain vs Tangle.
This is one of the biggest reasons why IOTA is just beginning to grow.
Basically, their technology makes it tricky to integrate with cryptocurrency exchanges.
2.5. Is IOTA The Best Cryptocurrency To Invest In 2018?
2.6. Why Shouldn't You Invest In IOTA In 2018?
3. Monero (XMR)
3.1. What Is Monero?
One of the biggest differences between Bitcoin and Monero is that Monero is ASIC resistant.
Simply put, it's cheaper and easier to mine.
Because Monero’s blockchain doesn’t have the high powered demands of Bitcoin, anyone can get involved in mining.
Therefore it's community and network will continue to grow.
Let me explain:
With Bitcoin, you need a lot of electricity and a high performance computer to mine it.
In contrast, Monero is much more efficient – you simply download the wallet, click a button and start mining.
Monero's also highly untraceable, allowing more privacy for their users.
If you want more technical info about Monero, this guide is a decent starting point.
3.2. Price History
3.3. Facts About Monero
3.4. Why Is Monero A Top 10 Cryptocurrency?
With innovative technology like stealth addresses, Ring Signatures and Ring CT, Monero has plenty of interesting features.
One of Monero’s biggest USPs is the fact that it’s focused on privacy – and that reflects trust.
Nobody can see your transactions with Monero – so your spending history is completely anonymous.
Now compare that to Bitcoin.
With Bitcoin, if someone knows your wallet address then they can also see your entire payment history.
So Monero gives users more control over their personal data.
3.5. Is Monero The Best Cryptocurrency To Invest In 2018?
3.6. Why Shouldn't You Invest In Monero In 2018?
4. OmiseGo (OMG)
4.1. What Is OmiseGo?
With over $25.5 million invested in OMG, OmiseGo was originally developed in Thailand.
OmiseGo is a payment platform.
It's like a dencentralized exchange combining both Fiat and cryptocurrency.
So what can OMG be used for?
- Consumers can use OmiseGo as a digital wallet. It's especially useful for those who don't have bank accounts
- Businesses can host their own digital wallet via the OmiseGo blockchain
- It's an easier solution for enterprises who want to accept cryptocurrency payments
- It eliminates the admin and paperwork involved in managing a bank account
OmiseGo is actually one of the best cryptocurrency projects I've seen on the market.
I'll go into more detail on that below.
4.2. Price History
4.3. Facts About OmiseGo
4.4. Why Is OmiseGo A Top 10 Cryptocurrency?
OMG has already become popular across Asia.
They've established offices across Thailand, Japan and Indonesia.
Their development team have pretty much all come from the Ethereum Foundation - another successful blockchain project.
Members of their team have also helped on plenty of other cryptocurrency projects including Cosmos, Hydrachain and Golem.
After partnering with giant corporations like McDonald’s, you can see the potential for OMG to be used in the ‘real world’.
OmiseGo offers a practical way to spend cryptocurrency.
You don't need a bank account or exchange account to use OMG tokens.
Useful: Need more info about OmiseGo?
Check out my OMG coin review for it's pros, cons and use case.
4.5. Is OmiseGo The Best Cryptocurrency To Invest In 2018?
4.6. Why Shouldn't You Invest In OmiseGo?
5. Ethereum (ETH)
5.1. What is Ethereum?
Ethereum’s rise to fame has been meteoric.
With it’s unique Ethereum Virtual Machine technology, developers don’t need to create their own blockchains from scratch.
This makes it an ideal companion for developing decentralized apps.
One problem is that when Cryptokitties was recently launched (they're kind of like modern day Tamagotchi’s) Ethereum really struggled with the demand.
The market crashed and orders were backlogged.
This is a sign that Ethereum isn’t quite ready to cope with high volume usage just yet.
5.2. Price History
5.3. Facts About Ethereum
5.4. Why Is Ethereum A Top 10 Cryptocurrency?
With it's decentralized apps technology, ETH has the second highest market cap in the world (after Bitcoin).
Ethereum is also the most popular ICO platform in the world.
There are new ICOs being launched every single day. Some of them raise millions of dollars.
5.5. Is Ethereum The Best Cryptocurrency To Invest In 2018?
5.6. Why Shouldn't You Invest In Ethereum In 2018?
6. Tron (TRX)
6.1. What Is Tron?
Tron is a technology designed to decentralize content on the web.
So instead of using third parties like YouTube, Facebook or Reddit, content producers would be able to monetise their content completely independently.
That means no ads, censorship or advertisement friendly content.
It could create a more decentralized, secure and rewarding version of the internet.
6.2. Price History
6.3. Facts About Tron
6.4. Why Is Tron A Top 10 Cryptocurrency?
Content fuels the web.
Everything we consume on the internet is content - videos, blogs, social media etc.
If Tron's platform hosts most of the web's content, it could completely change the internet as we know it.
6.5. Is Tron The Best Cryptocurrency To Invest In 2018?
6.6. Why Shouldn't You Invest In Tron?
7. Bitcoin (BTC)
7.1. What Is Bitcoin?
Bitcoin was the first ever cryptocurrency to be created.
BTC is like the cryptocurrency version of gold.
Whilst it's not practical yet for scalability - it's still used as a measure of value across the cryptocurrency market.
7.2. Price History
7.3. Facts About Bitcoin
7.4. Why Is Bitcoin A Top 10 Cryptocurrency?
It's undeniable, Bitcoin is a giant.
Whilst it's value is far from stable, Bitcoin is still less volatile than the rest of the market.
Plus it has the largest brand recognition in the world.
Bitcoin was actually the most Googled word in 2017.
7.5. Is Bitcoin The Best Cryptocurrency To Invest In 2018?
7.6. Why Shouldn't You Invest In Bitcoin In 2018?
8. Stellar (XLM)
8.1. What Is Stellar?
Stellar is a payment network that can be used for faster, cheaper international transfers.
8.2. Price History
8.3. Facts About Stellar
8.4. Why Is Stellar A Top 10 Cryptocurrency?
Stellar has a bright future ahead of it.
They've announced several high profile client partnerships.
Plus they're constantly developing their technology for lower fees and more scalability.
8.5. Is Stellar The Best Cryptocurrency To Invest In 2018?
8.6. Why Shouldn't You Invest In Stellar In 2018?
9. Cardano (ADA)
9.1. What Is Cardano?
Cardano is very similar to Ethereum.
It's a platform developers can use to create their own decentralized apps.
9.2. Price History
9.3. Facts About Cardano
9.4. Why Is Cardano A Top 10 Cryptocurrency?
Whilst Cardano offers similar functionality to the likes of EOS or Ethereum, they're going one step further.
ADA is developing a technology that integrates with other blockchains.
This might sounds basic, but most cryptocurrencies aren't interchangeable with other blockchains.
And that creates a huge problem.
It's the blockchain equivalent of not being able to use a Windows PC to view certain websites.
9.5. Is Cardano The Best Cryptocurrency To Invest In 2018?
9.6. Why Shouldn't You Invest In Cardano In 2018?
10. Steemit (STEEM)
10.1. What Is Steem?
Essentially, Steemit is a social media network - and Steem is the cryptocurrency used on the platform.
It's like a blockchain version of Facebook or Reddit.
However, the beauty of Steemit is that it has no adverts.
It's like going back in time and using the internet 15 years ago.
Plus it literally pays people to produce content on the platform in Steem tokens.
10.2. Price History
10.3. Facts About Steem
10.4. Why Is Steem A Top 10 Cryptocurrency?
Steem is actually one of the first social media projects powered by the blockchain.
Whilst many cryptocurrencies don't have a use case, Steem's is obvious.
Producers (think bloggers or vloggers) are rewarded by creating popular content.
The more popular their content is, the more they're rewarded by the platform.
10.5. Is Steem The Best Cryptocurrency To Invest In 2018?
10.6. Why Shouldn't You Invest In Steem In 2018?
How I Do Choose The Best Cryptocurrencies To Invest In?
Cryptocurrency investing is a highly debated topic.
So you might be wondering how I created this list.
And why are these the best cryptocurrencies to invest in 2018?
So here's the investment criteria I used for each cryptocurrency:
Timing The Market In 2018.
If you've invested in cryptocurrency already, then you know that coin values are highly susceptible to market news.
Timing is crucial too:
- Invest too late and you'll struggle to gain value
- Invest too early and you might not have the patience to hold the coin long term
Market news that could impact the cryptocurrency market includes:
- Roadmap updates
- Technology releases
- Scheduled forks
- Blockchain upgrades
- Major events within the community
- Press releases
- Changes in Government regulations
- Exchange hacks
Long Term Vs Short Term Cryptocurrency Investing.
So there you have it – the top 10 best cryptocurrencies to invest in 2018.
Now personally, I'm holding my investments long term.
Some people in the cryptocurrency world call it ‘Holding On For Dear Life’ (HODLING).
If you’re new to this, I wouldn't recommend day trading.
Instead, I simply buy, hold and forget.
You see, cryptocurrencies fluctuate like crazy:
And if you keep buying and selling everyday, you're liable to making rash, emotional based trading decisions.
Which is basically how most people lose money whilst investing in cryptocurrency.
So here's why investing long-term is my preferred strategy:
- If you’re constantly checking cryptocurrency prices, you’re going to waste a lot of time
- Buying and selling all the time means you’ll pay a lot in transaction fees
- Depending on where you're based, taxation becomes more complicated the more trades you make
- If you’re not careful, you’ll end up making emotionally charged decisions – because you’re worried about the daily swings in coin values
- You should see cryptocurrencies as an investment – not a ‘get rich quick’ scheme
- Day trading is a very volatile world – it’s not advised for newbies
When it comes to cryptocurrency, never invest more than you can afford to lose.
No one knows what the market will do next.
I’d also recommend only storing your cryptocurrency offline in a hardware wallet.
This helps to:
- Avoid cryptocurrency exchange hacks
- Avoid losing your login details
- Avoid your password info getting hacked (you're more susceptible to this if your data is stored online)
Pro Tip: Storing your cryptocurrency investments in a hardware wallet is essential.
Check out my hardware wallet reviews for tips.
What's The Best Cheap Cryptocurrency To Invest In 2018?
Before you start looking at coin prices, it's important to understand that a cheap price doesn't necessarily mean more growth opportunities.
e.g. Bitcoin hit $7,000 in November 2017 - then raced all the way up to $19,000.
Having said that, Tron cryptocurrency fits this criteria.
Because Tron has so many tokens in circulation, their value per coin is relatively cheap compared to the rest of the market.
Which Is The Best Cryptocurrency To Invest In 2018?
My favourite is OmiseGo.
Their team, technology, business model and experience are all extremely positive signs.
Coin Review: Wondering if OmiseGo is the right investment for you?
Then check out my coin review of OmiseGo.
What's The Best Small Cryptocurrency To Invest In 2018?
If you're looking for a smaller, less well known cryptocurrency investment, check out my review of Fuel cryptocurrency.
They're essentially planning to become the WordPress of decentralized apps.
That's a huge market with a lot of potential.
What's The Best Cryptocurrency Stock To Invest In 2018?
My personal pick is Overstock (OSTK).
Here's a few reasons why:
- Overstock is already becoming an established leader in their field
- They've been involved in blockchain projects since it's creation
- They were actually one of the first businesses to accept Bitcoin
But Overstock is more of a long term hold, not a quick win.
Plus investing in blockchain related stocks doesn't offer the same sort of growth prospects as trading cryptocurrencies directly.