Before we dive into the very best cryptocurrencies to invest in, in 2018, it’s important first to understand what altcoins are. The term is thrown around freely on the internet, but it has also been known to confuse those who are either new to cryptocurrency or are new to investing.
Altcoins are, in short, alternative cryptocurrencies. If you’re not referring to Bitcoin – the first and most successful decentralized digital currency, then you’re talking about the 1,000+ alternative cryptocurrencies (or altcoins) that exist online. While Bitcoin was the first peer-to-peer digital currency, it wasn’t the last and, of course, people are always going to try and build on or replicate the success of something that can make a person exceptionally rich.
Those who are setting out to create an alternative form of cryptocurrency are doing so to bridge the gap in the market the Bitcoin leaves. That is if they can find a gap.
As a result, cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple, and Doge were built, in the hopes they could one day be the successor to Bitcoin. While many people are naysayers on this front, who knows what the future holds for them? We believe 2018 is going to be a great year for digital currency, so we’ve compiled a list of the best Altcoins worth investing in for 2018.
Cryptocurrency researcher and programmer Vitalik Buterin proposed to build Ethereum in late 2013, using CrowdSale to fund development in 2014. By mid-2015, Ethereum, a new open-source, public, blockchain-based platform was born, with 11.9 million coins pre-mined during CrowdSale development. That original amount now only accounts for 13 percent of the total supply, and it’s steadily growing in both popularity and value.
Ethereum is not only a computing platform, but it provides a cryptocurrency token called Ether. This token can be transferred between accounts and compensates nodes for any performed computation. However, just last year in 2016, the project collapsed. As a result, Ethereum was separated into two blockchains: Ethereum (ETH) and Ethereum Classic (ETC).
If you’re interested in cryptocurrency investment, but you’re not looking to stray too far from the trusted and loved Bitcoin, Litecoin is the next best thing. This peer-to-peer cryptocurrency was built by former Google employee Charlie Lee in 2011. It differs marginally from Bitcoin but has a decreased block generation time, an increased coin limit, a different GUI and a slightly different hashing algorithm. Of course, it was inspired by Bitcoin, but its build and purpose can be considered completely different.
Litecoin price experienced its biggest jump in value, in 2013. Within 24 hours, its value grew by 100 percent, reaching $1 billion market capitalization by the end of 2013. By the end of November 2017, it was worth 4,600,081,733 US Dollars, which equates to a little over $85 per coin. It’s a far cry from the $10,000+ per coin for Bitcoin, but 2018 can only mean good things for Litecoin.
Dash, also formerly known as Darkcoin and XCoin, is another peer-to-peer cryptocurrency. As stated previously, many programmers aim to create a coin with a difference. The point of difference for Dash is that it’s exceptionally user-friendly. It offers instant transactions, it has a self-funding and self-governing model, and with its own budgeting system, it’s considered to be a decentralized autonomous organization.
With an identity crisis, Dash was first known as XCoin, and it was released to the market in 2014. A little over a month later, it was renamed Darkcoin, and by 2015 it was known as Dash.
While the Dash Core Team experienced a few difficulties during the creation of Dash due to using the Litecoin code during development, the value and the popularity of the cryptocurrency has grown. The Dash Core Team, in charge of development, now has 50 staff and even more volunteers, and over 100 million dollars’ worth of Dash is traded every day.
Ripple is a real-time gross settlement system which is also referred to as Ripple Transaction Protocol (RTXP) or Ripple Protocol. It has a cryptocurrency called XRP, or Ripples, and is built upon an open source internet protocol.
Setting it apart from various other cryptocurrencies is its overall mission. There are no chargebacks, it’s secure, transactions are instant, and it supports global financial transactions of any size. Well-known companies, ISPs, banks, and even an educational facility validate this cryptocurrency.
It’s hard to believe an internet meme could end up being a financial goldmine with a bright future, but that’s exactly what Dogecoin is. Bearing a likeness to a Shiba Inu – like the one found in many internet memes, this coin has a capitalization of close to 230 million US Dollars as of November 2017.
Over 100 billion coins were put into circulation in 2015, with over five billion for each year after that. While the structure, platform and overall value of the Doge are legitimate, there are few places you can actually spend your Doge. Instead, it’s more often than not used as a tipping system for online communities, as well as in a crowdfunding effort to put a gold Doge coin on the surface of the moon by 2019.