BITCOIN DIVERSIFICATION
You know what’s worse than going through a Bitcoin crash? Watching the markets rise again and kicking yourself in the butt for not buying coins at a very low price. Following recent SEC/CFTC hearing, the markets have started to recover slowly. Being a new investor, i will not just sit here and watch the market crash without making the right investment moves; I’m here to tell you that it’s not a good feeling and you don’t have to be scared while taking this risk.
Diversifying Bitcoin?
Diversifying is a key component to capture growth opportunities and mitigate risk against crashes that may occur. This article is not telling you to sell all your bitcoin; it is an answer to the question:
“what other coins should i be looking at?”
Take a Look at These Cryptocurrencies
These coins were selected because they will do well in the long term due to a combination of:
- Its proven track record of success with things such as on-time milestones and product launches
- The motivation, responsiveness, and credentials of its team
- The value it brings to the cryptocurrency ecosystem
- The value it brings to its investors.
While these recommendations appear in no particular order,
Ethereum
CoinLib shows 2,600 coins listed in the cryptocurrency space — guess what? Most of those coins are Ethereum tokens, meaning they are cryptocurrencies that exist within the Ethereum blockchain because that’s where they were created.
Ethereum is the grand-daddy of altcoins. If you want a long, itemized list of the reasons why Ethereum isn’t done, take a look at this most recent article on The Flippening: Ethereum VS. Bitcoin . It will give you a very good idea why Ethereum is a strong competitor for the throne as the Top Dog cryptocurrency against Bitcoin by the end of 2018.
NEO
Source: Michael Spencer
NEO is one of the cryptocurrencies I’m most bullish on in 2018. Although I don’t think it will necessarily demonstrate the best growth by the end of the year, I have no doubt that it has huge potential, and that the current price is still a bargain. As a competitor to Ethereum, NEO currently has 40 ICOs in line for 2018. Investor fervor to participate in these ICOs will drive up the price of NEO, as NEO ICOs require NEO to participate, similar to how Ethereum ICOs require Ethereum. NEO is rising again [https://themerkle.com/neo-price-reaches-115-again-thanks-to-55-increase/]
Beyond its use case as a smart contract ecosystem, though, it also generates Gas as a dividend. By holding NEO, your wallet will automatically generate Gas. In order for the NEO to generate Gas, you must hold it in a private wallet unless you hold it in Binance — Binance pays out its users in Gas once every 30 days (clarification by Samuel Ng) and Kucoin pays out its users in Gas once every 24 hours (clarification by Wojciech Krawczyk). For private wallets, I recommend the NEON wallet from City of Zion, which is approved by the official NEO Council. It has compatibility for Windows, Mac, and Linux. Do not underestimate Gas — it is the actual currency that drives the NEO Smart Economy. read also NEO new vision [https://coincentral.com/neo-new-vision-moonshot/]
This write up is fully an opinion piece based on my subjective view. This is not a guarantee of future success in any of these projects, I’m not a fortune teller but only a risktaker.
References
Coins mentioned in post: