Are you concerned about making a smart investment in cryptocurrency this year? Discover the best cryptocurrency for 2018 and gain a better understanding of the cryptocurrency markets. You can make informed investments that maximize your return.
Factors to consider when choosing the best cryptocurrency for 2018
To pick the top crypto for 2018, there are a lot of factors to consider. Market capitalization, development team, uptake rate, tech, banking deals, and community support all matter. Let’s take a look at each of these. They all have a part in the value and success of a cryptocurrency.
Image credits: kingpassive.com by Adam Woodhock
The market value of a cryptocurrency, known as its digital capitalization, plays a significant role in determining its success in the market. Traders and investors analyze this data to gauge the health of a particular digital currency. It is important to consider market capitalization while selecting the best cryptocurrency for 2018.
Below is a table illustrating the top five cryptocurrencies based on their market capitalization on April 20, 2018:
|Market Capitalization (US dollars)
It is essential to note that market capitalization alone should not be the sole criteria when evaluating digital currencies. Other factors include technology behind the cryptocurrency blockchain network security features and its scalability potential.
In early 2018, a new cryptocurrency rose into fame called Dragonchain which began within Disney corporation as an open-source cross-industry platform aiming to aid businesses and developers rapidly build and deploy serverless solutions programmatically onto multiple blockchains encompassing Ethereum among others.
Behind every successful cryptocurrency is a development team that could either make or break it – no pressure, guys.
The expertise and experience of the cryptocurrency’s development team are crucial factors to consider when making your choice. The competence of the team can affect how well they maintain and update the currency, how responsive they are to user feedback and concerns, and their ability to overcome potential issues.
With a well-versed team having technical knowledge, a strong work ethic, and an innovative mindset, you can feel assured that your cryptocurrency will continue evolving with market trends. They should also have a good track record in securing transactions and addressing cybersecurity threats.
It’s important to note that a cryptocurrency project may have many contributors from different backgrounds. This may include developers, marketers, or even trusted investors. Still, ultimately, it is necessary to assess the overall strength of the core developing team responsible for fueling innovation and improvements.
According to CoinTrust.com’s research in 2019 on cryptocurrency adoption by millennials; more than 80% of millennials surveyed said at least one person in their social network owned crytocurrency.
The only adoption rate higher than that of cryptocurrencies is for abandoned puppies at the pound.
Cryptocurrency Acceptance Rate
The acceptance rate of a cryptocurrency is a vital factor to consider when choosing the best cryptocurrency for 2018. It reveals how widely accepted and trusted the currency is among businesses, individuals, and institutions. A high acceptance rate indicates that the currency has a good reputation, security features, and ample utility.
A coin with worldwide acceptance such as Bitcoin or Ethereum is likely to be more stable in value because it has been adopted by merchants around the world. With such adoption, it means payment solutions have been developed and users can easily find places to use the digital asset. Cryptocurrencies that have less adoption or appeal will fail at last, leading to investor losses.
It’s arguably true that Bitcoin enjoys massive adoption compared to other cryptocurrencies, thanks to its long-standing presence in the market. However, newer cryptocurrencies such as Ripple also offer extensive usefulness across multiple industries hence have seen increased adoption in the past few years.
Adoption rates factor heavily into the valuation of cryptocurrencies and their perceived legitimacy within financial systems. The higher guarantee on broader democratization increases an individual’s desire to acquire crypto assets.
Studies indicate that altcoins with similar qualities as Bitcoin tend to outperform Bitcoin eventually due to increased investment from investors who are attracted like magnets by cryptos with incredible similarities but publically recognized as illegal or questionable in certain areas of operability. For instance, Monero, once granted anonymity through advanced encryption technology incorporates recent quality implementations that have since driven its market value up by over 1000% –with close resemblance from its technological makeup with Bitcoin blockchain tech thus attracting those who can bet on it delivering promising returns yet less known amongst mainstream investors
Technology is like a double-edged sword – it can make you rich or bankrupt in just one crypto second.
The technological infrastructure behind a cryptocurrency plays an essential role in its adoption and success. The design, functionality, and security features of the technology greatly determine its performance. The best cryptocurrency for 2018 must have a sustainable technological framework, which is continuously evolving to meet the changing market conditions.
When selecting a cryptocurrency, consider factors such as scalability, transaction speed, energy consumption, security protocols, and consensus algorithms. Cryptocurrencies with disruptive technologies such as blockchain-based smart contracts are preferred since they provide a secure decentralized platform for executing complex transactions.
Notably, technological advancements pave the way for new cryptocurrencies designed to address specific market gaps. Thus, investors should conduct research to identify emerging technologies that offer solutions to current market inefficiencies.
Cryptocurrencies like Bitcoin have a rich history behind them. Released in 2009 under an anonymous name or pseudonym Satoshi Nakamoto, it rapidly gained attention due to its unique architecture. Unlike traditional systems that require intermediaries in transactions, bitcoin’s technology allowed for direct peer-to-peer transactions without middlemen interference while providing security through cryptography. Since then, thousands of new cryptocurrencies have emerged with variations in their designs and technologies.
Overall, choosing the best cryptocurrency for 2018 requires extensive research on various factors such as technology infrastructure. Additionally, understanding the history evolution of cryptocurrencies may provide insights into suitable options for investment based on specific goals or objectives.
When it comes to banking partnerships, remember that your cryptocurrency should have more allies than Patrick Star’s rock.
The collaboration between cryptocurrencies and established financial institutions is a crucial factor to consider when selecting the optimal digital coin for 2018.
Working with traditional banks and payment providers offers several advantages such as increased liquidity, facilitating access for regular users, and aiding in compliance with financial regulations. Thus, cryptocurrency projects that have formed partnerships with financial institutions have a more significant likelihood of success.
Additionally, banking partnerships also provide investors with an additional sense of security due to the involved parties’ enhanced financial backing. As such, choosing a cryptocurrency backed by established banking partners can reduce an investor’s risk exposure while simultaneously improving their chances of profiting from the investment.
On this note, cryptocurrency stalwart Ripple’s partnership with over 300 banks worldwide has seen its XRP token become one of the most valuable digital assets globally. This successful collaboration provides an example worth considering when selecting a top-performing cryptocurrency for 2018.
When it comes to community support for choosing the best cryptocurrency, remember: it’s better to be part of a strong and helpful community than a coin with a fancy logo and no friends.
One important aspect to consider when choosing the most suitable cryptocurrency for 2018 is its backing by the community. The level of support and engagement from the users of a particular currency can greatly impact its success in the market. A strong, active community ensures that there will be continued development, growth and adoption of the currency.
It is vital to study how active and engaged a cryptocurrency’s community is before making investment decisions. Look for online forums, social media platforms and meetups specific to the cryptocurrency in question. Analyse how much activity there is on these platforms and gauge the quality of interactions between users. Evaluate community-driven projects, initiatives, collaborations and developments.
A unique factor to consider with regards to community support would be evaluating whether or not individuals are positively spreading awareness about the currency. Responses regarding its potential should be considered as well as criticisms that could mean long term gain with regards to battling already exposed issues.
By investing in a cryptocurrency supported by a strong community, you can take advantage of network effects which help increase demand for your favourite currencies. Do not miss out on reaping maximum gains; choose cryptocurrencies with proactive communities which ensure more promising returns on investment.
Get ready for a rollercoaster ride of profits and losses as we dive into the top cryptocurrencies for 2018.
List of the best cryptocurrencies for 2018
To know the finest cryptocurrencies for 2018, you must explore the options. Here’s a list of the top 10:
- Bitcoin Cash
- Ethereum Classic
This can help you choose wisely based on your needs.
Image credits: kingpassive.com by Harry Woodhock
As one of the first and most popular cryptocurrencies, Bitcoin is renowned for its decentralized nature. The currency’s transactions and value are based on a secure distributed ledger technology, known as blockchain. Utilizing complex computational algorithms, Bitcoin trading allows users to buy, trade and sell cryptocurrencies without the interference of banks or other centralized institutions.
Due to its high price volatility, investing in Bitcoin has been a challenge in recent years. Despite this challenge, Bitcoin remains one of the top performing digital currencies with a current market cap of over $600 billion. With such a large market presence and ease of accessibility through various exchanges, it’s no surprise that many investors still see Bitcoin as a valuable asset within their portfolio.
Investing in Bitcoin also comes with certain risks. A lack of awareness regarding safe methods to store cryptocurrency can lead to theft. Moreover, sudden economic downturns can result in heavy losses for investors who have bought into Bitcoins before such problems arise.
When Satoshi Nakamoto created Bitcoin back in 2008, they probably had little idea just how integral their creation would become to the rise of digital currencies. Today there are thousands more types of cryptocurrencies available on the markets aiming to dethrone Bitcoin as the king of crypto trading – but it has yet retained its leading position among all investors globally.
Ethereum: where smart contracts and hype collide, but hey, at least it’s not Bitconnect.
This highly popular cryptocurrency is known for its smart contracts and decentralized apps. Ethereum has numerous applications in the real world, such as voting systems and supply chain management. Additionally, it has recently undergone a major upgrade that has improved its scalability and security features.
Another unique feature of Ethereum is the ability to create and deploy custom tokens on top of the blockchain, which can be used for crowdfunding, loyalty programs and much more.
A lesser-known fact about Ethereum is that it was created by Vitalik Buterin while he was still a teenager. He dropped out of university to focus on developing what would become one of the most valuable cryptocurrencies in the world today.
Ripple – the perfect cryptocurrency for those who love making waves, both in the market and in their personal life.
A popular cryptocurrency with a focus on global money transfers, Ripple leverages blockchain technology to provide fast and secure transactions. Its unique consensus algorithm and use of XRP tokens allows for low transaction fees, making it an attractive option for businesses. Additionally, its partnerships with prominent financial institutions make it a promising investment in the ever-changing world of digital currency.
Ripple’s ability to process thousands of transactions per second sets it apart from other cryptocurrencies. Its technology is used by banks across the globe, offering a cheaper alternative to traditional wire transfers. The fact that XRP tokens are not mined but rather created initially makes it different from other cryptocurrencies like Bitcoin and Ethereum.
Since its inception in 2012, Ripple has grown exponentially. With over 100 clients globally in 2021 including payment processors and exchanges, Ripple aims at replacing SWIFT as the leading method of global interbank payments, providing quicker and less expensive means than conventional methods used currently.
If Bitcoin is the OG, then Bitcoin Cash is the rebellious teenager who just got his first tattoo.
This progressive digital currency is a fork of Bitcoin, called Bitcoin Cash. Designed to increase block size and improve transaction speed, Bitcoin Cash offers lower fees and improved scalability compared to its predecessor. Its decentralized network and popularity within the cryptocurrency market make it a promising investment for 2018.
As a descendant of Bitcoin, Bitcoin Cash shares many similarities with its predecessor, including limited mining supply of 21 million coins and a decentralized blockchain network. However, it boasts larger block sizes (up to 8MB) which help facilitate quicker transactions and lower fees. It has been embraced by various merchants and businesses worldwide, improving adoption rates.
Unlike Bitcoin which has faced significant performance issues due to its increasing popularity amongst users resulting in slow transaction speeds at times, BCH has been designed to handle higher volumes without compromising performance or security. It utilizes an innovative protocol known as the Simple Ledger Protocol (SLP) that enables the creation of highly scalable applications capable of processing millions of micropayments per second.
Bitcoin Cash came into existence on August 1st, 2017 through a hard fork from the original Bitcoin codebase. Following years of disagreements among members within the crypto community regarding scalability issues with bitcoin transactions leading up to congestion on its blockchain network; they sought forking off the mechanism block by increasing block size, thus giving birth to BCH as one avenue of evolution over prevailing issues within BTC’s network infrastructure.
Litecoin: Because Bitcoin is so mainstream.
A promising cryptocurrency with significant market capitalization, Litecoin has found favor amongst investors and cryptocurrency enthusiasts alike. Its blockchain technology ensures fast transaction times and low transaction fees, making it a viable alternative to Bitcoin. Additionally, being an early adopter of emerging technologies such as atomic swaps has kept it relevant in the ever-changing crypto-sphere.
Litecoin’s increasing adoption rate and technological advancements make it a reliable investment option for those wary of Bitcoin’s volatility. Its value proposition and scalability potential continue to attract more users into its fold.
Pro Tip: Keep track of Litecoin’s market trends and maintain a diversified cryptocurrency portfolio to reduce risks.
Dash: Because paying for things in coins was so 2017.
This popular digital currency known for its instant and private transactions is Dash. Its unique governance system allows for community voting on proposals to improve the network. Additionally, Dash has a dedicated team working on constantly improving its platform and increasing adoption.
Users can earn rewards by running masternodes, which also enhance transaction speed and security. A notable feature is InstantSend, which facilitates transactions within seconds.
To further increase transaction privacy and anonymity, Dash utilizes a technology called PrivateSend. This coin has established itself as a strong contender in the cryptocurrency market with a focus on practicality and user experience.
Pro Tip: To ensure maximum profitability of Dash mining, consider joining mining pools or investing in hardware specifically designed for mining this currency.
Ethereum Classic: Because sometimes it’s hip to be the old-school rebel, even in the world of cryptocurrencies.
The table below illustrates the current state of Ethereum Classic, including its market capitalization, circulating supply, and price per unit:
|$1.76 billion USD
|116 million ETC
|Price per Unit
In addition to these impressive statistics, Ethereum Classic is a highly secure and stable platform that offers fast transaction times and low fees. Furthermore, it boasts exceptional scalability and flexibility, making it ideal for a wide range of applications.
Ethereum Classic was originally established as a split from the Ethereum blockchain following the DAO hack in 2016. The community’s decision to maintain the original chain’s integrity resulted in the creation of Ethereum Classic. Since then, it has established itself as one of the strongest competitors in the cryptocurrency market.
Overall, Ethereum Classic continues to be an exciting prospect for investors and developers looking for secure and scalable blockchain solutions. Its strong DevOps team is continuously working on improving its functionalities and expanding its ecosystem with new features such as side chains and wallets integration with Defi protocols.
Cardano, more like Cardi-no way this is the best cryptocurrency for 2018.
In addition to its cutting-edge technology, Cardano has a strong community of developers and researchers continuously working towards improving the platform. Its scalability and interoperability features set it apart from other cryptocurrencies.
Investors looking for long-term gains can consider holding ADA, the native token of Cardano blockchain. With numerous partnerships in the works, including collaborations with governments in emerging markets, this cryptocurrency is poised for growth in 2018.
To ensure success when investing in Cardano, investors should diversify their portfolios by including other promising cryptocurrencies such as Ethereum or Litecoin. Staying informed about industry trends and staying up-to-date with Cardano’s developments is essential for maximizing returns on investments.
Stellar – the cryptocurrency that’s out of this world, but still down to Earth enough to make some serious gains in 2018.
Stellar is a cryptocurrency with fast transaction processing and minimal energy consumption. Some key features include:
- Partnerships with major financial institutions and companies such as IBM and Deloitte.
- Stellar.org is a non-profit organization that develops and maintains the Stellar network.
- The network has built-in compliance protocols to prevent money laundering and other illegal activities.
- The XLM cryptocurrency has low transaction fees, making it attractive for micro-transactions.
- Stellar’s smart contract capabilities allow for more complex financial transactions.
Despite being a relatively new player in the cryptocurrency industry, Stellar’s partnership with established players indicates its potential for mainstream adoption.
Stellar was founded by Jed McCaleb, who also co-founded Ripple before leaving in 2013 due to disagreement over its direction.
The blockchain-based digital platform, EOS.IO, is a decentralized operating system designed for decentralized applications and smart contracts. It offers a high degree of scalability and flexibility, making it an attractive choice for developers. Its unique Delegated Proof of Stake (DPOS) consensus mechanism maximizes efficiency while ensuring security. With its robust features, EOS.IO has the potential to disrupt the market and become one of the leading cryptocurrencies in 2018.
EOS.IO’s innovative DPOS consensus mechanism allows holders of EOS tokens to participate in network governance by voting for Block Producers. This approach enables quick decision-making that can adapt to network conditions efficiently. Additionally, EOS.IO provides easy-to-use development tools that enable developers to build secure and scalable decentralized applications (dApps). These features make EOS.IO one of the best cryptocurrencies for 2018.
EOS.IO is also suitable for businesses that require a high level of privacy protection as it uses advanced cryptographic algorithms that protect user data without sacrificing efficiency. It is also environmentally friendly compared to other cryptocurrencies like Bitcoin, which consume massive amounts of energy.
Recently, EOS has faced some challenges after its successful crowdsale raised more than $4 billion in 2017. The vast funding raised concerns about centralization since much control was in the hands of the founding team until recently.
All in all, despite these challenges, it’s evident that future developments will see this technology emerge stronger – taking the cryptocurrency world by storm!
FAQs about Best Cryptocurrency For 2018
1. What is the best cryptocurrency for 2018 according to experts?
Experts have predicted that the best cryptocurrency for 2018 is Bitcoin. Despite the market’s volatility, Bitcoin is still considered one of the most stable cryptocurrencies out there. Other alternatives include Ethereum, Ripple, and Litecoin.
2. What are the benefits of investing in the best cryptocurrency for 2018?
Investing in cryptocurrencies can provide investors with high returns on investment. The best cryptocurrency for 2018 can serve as an alternative to traditional investments such as stocks and bonds. Additionally, cryptocurrencies offer individuals greater control over their own finances and financial privacy.
3. What are the risks associated with investing in the best cryptocurrency for 2018?
As with any investment, there are risks associated with investing in cryptocurrencies. Cryptocurrencies are subject to price volatility and market fluctuations which can result in significant losses if the market goes south. Additionally, cryptocurrencies are subject to various regulatory risks including government intervention and changes in tax laws.
4. What are the best cryptocurrency wallets for 2018?
There are numerous cryptocurrency wallets available, but the best cryptocurrency wallets for 2018 include Ledger Nano S, Trezor, and Electrum wallet. These wallets offer secure storage for cryptocurrencies while providing users with a user-friendly interface.
5. How can I purchase the best cryptocurrency for 2018?
Purchasing cryptocurrencies is relatively easy as there are numerous exchanges available online like Coinbase, Binance, and Kraken. To start purchasing cryptocurrencies, you will need to first set up an account on the exchange of your choice, verify your identity, and have a method of payment such as a credit card or bank account.
6. What are the tax implications of investing in the best cryptocurrency for 2018?
Investing in cryptocurrencies can have tax implications. Cryptocurrency purchases may be subject to capital gains taxes and the IRS considers cryptocurrencies as property rather than currency. It is important to keep track of your cryptocurrency purchases and consult with a tax professional to ensure compliance with tax laws.