Best Cryptocurrency to Buy Now for Riches in the Near Future
2019 has given us renewed hope that the crypto winter is set to end. IEOs and ICOs are growing in number, and Bitcoin’s continuous rise has led to optimistic predictions that the bear trend is finally over.
Let’s take a look at some of the newest cryptocurrencies making a splash. These successful cryptocurrencies are less than 6 months old, are trading with a high ROI, and operating with reasonable market caps and trading volumes.
BEAM is a cryptocurrency with privacy as its main focus. It is developed on the base of a MimbleWimble protocol. BEAM is different from other private cryptocurrencies due to the way that confidentiality is maintained. Anonymity is reached on a lower level compared to Zcash, Monero and other privacy oriented cryptocurrencies. The privacy level can be adjusted by users, who have the ability to reveal partial or full information to the counterparties they interact with. What’s more intriguing is that you can’t find any address information on the BEAM blockchain, as it isn’t saved there. The BEAM network officially began its operations on the 3rd of January, 2019.
BEAM’s price has risen an impressive 320% in the past thirty days, with a lower but still significant 124% ROI from its first trading day.
ROI: 95% for the last 30 days, -12% since the first trading day.
Grin is another MimbleWimble based platform launched on the 15th of January, 2019. The community of developers pays great attention to democratization, decentralization and privacy. Grin can be used freely by anyone in the world and transaction controls are decentralized. One more important characteristic of the platform design is its ability to scale significantly with time. The architecture is built in a way that allows easy growth without unnecessary extra data volumes. Similar to Beam, there wasn’t any ICO, the team simply demonstrated their commitment to honest and fair distribution principles.
LTO Network (LTO)
ROI: 6% for the last 30 days, 95% since the first trading day.
Yet another token with great potential. The LTO Network offers a ready to use blockchain business solution. Their approach allows enterprises to utilize blockchain immediately without throwing away their previous solutions. The combined layered architecture offers a convenient way to split private and public information; the real life processes are very well modelled in their system. Some existing real and working businesses use the LTO Network, which shows that the team is moving in the right direction.
LTO’s current market cap is more than $20 million, and it is traded on 6 cryptocurrency exchanges, one of which is Binance DEX.
Unfortunately, there’s no simple answer to this question. We don’t have a time machine and can’t predict the future. However, it is safe to say that you shouldn’t trust anybody claiming to have information regarding ‘guaranteed’ crypto trading profits.
All we can do is look at the historical movements and analyse them. Let’s take a wider scope and go beyond just cryptocurrencies. The top performers with the biggest ROI in the past half year are presented below. Digital currencies with a market cap lower than $20m are not included.
ROI: 12700% for the last 6 months, 359% since the first trading day.
Those who weren’t afraid of the crypto winter are being rewarded for their courage. However, the reasons behind the huge pump we have seen are still unclear. The testnet was launched on the 5th of June and there weren’t any other noticeable events. There was an airdrop on the OKEx exchange which could have pushed the price upwards. Unfortunately, there’s a noticeable lack of information about EGT trading in non-Chinese media.
Egretia is a blockchain HTML5 game development platform. The project is actively evolving according to its blog. Their key competitive advantage is the simplicity offered to game developers.
U Network (UUU)
ROI: 1470% for the last 6 months, 0% since the first trading day.
U Network is yet another Chinese player. They have several working products, one of them is Upbet, a decentralized prediction market which accepts UUU for betting.
In general, the U Network is a content platform. The developers are trying to solve existing content network problems including spam and the domination of bots, the difficulties in finding high quality content, and unfair awards distribution.
Content creators and users are compensated for the development and management of their work directly. The voting mechanism prevents fake voting and improves the discovery of quality material.
ROI: 1,240% for the last 6 months, 0% since the first trading day.
A little known Chinese project with a good ROI but small 24h trading volume (around $4m). It’s also traded on a limited number of exchanges (almost entirely on Huobi).
They describe themselves as a platform for easy DApps development.
Binance Coin (BNB)
ROI: 445% for the last 6 months, 29000% since the first trading day.
Since the commencement of trading, it has been the standout leader in total ROI. Binance is a well established brand and the figures speak for themselves.
ROI: 526% for the last 6 months, 2000% since the first trading day.
It took almost a year to get the result that many have dreamt about.
The team is holding a so-called ‘earndrop’ now, where they are giving away free tokens to those who register and complete a set of tasks. However, participants are limited by geographical location - those from developing countries are by and large not accepted at this point.
Nowadays it’s quite easy to buy bitcoin or any other cryptocurrency. There are many options available depending on your country and personal preferences. They include:
- wire transfer (crypto exchanges like bitcointrade and others)
- credit card (binance, cex.io, coinbase, coinmama, luno, bitpanda, etc.)
- money transfer systems like WU or MoneyGram (localbitcoins, etc.)
- cash (bitcoin ATMs, etc.)
In general, localbitcoins.com is a good place to find available purchase methods for your country.
If you are a newbie wishing to buy bitcoin we have some tips for you.
Take into account possible delays. If you are registering on a crypto exchange for the first time you will possibly need to wait for a verification or other procedures before you can deposit or withdraw. They may take from several hours to several days, which you should be prepared for. Usually you will need your ID with you and be ready to take a selfie with it or have a video chat with a verification officer.
In most cases, deposits will be open immediately but withdrawals may be locked until you pass verification.
Don’t deposit a large amount the first time. Try to deposit a small amount first, something you are not afraid to lose. If anything goes wrong it will be a valuable lesson rather than a calamity.
Check the withdrawal process. Take a small amount and try to withdraw it. Be patient and calm. After you get familiar with the process you can operate with larger amounts.
Don’t hold crypto on exchanges. Try not to hold your crypto assets on centralized exchanges for a long time. Keep the amount you regularly use for trading or other activities. As soon as you have finished your exchange operation, withdraw your coins to your own wallet where you have full control over your private keys. Keep in mind that exchanges can be hacked at any time without warning. Your funds may be lost or frozen.
Keep your passwords safe. Use a password manager to store your passwords from exchanges. Follow the security guidelines recommended by your password manager and crypto exchange site.
Create backups. The private keys from your bitcoin wallet must be backed up securely. If you lose them your funds are not recoverable.
Use 2FA. Everywhere possible, use two-factor authentication.
Educate yourself. The more you know about crypto, the greater you protect yourself from mistakes, hacks or scams. Read crypto news and guides, and communicate on forums or other social media.
Start with BTC or ETH. If you haven’t purchased any crypto until now, select the first and second best performing cryptocurrencies on the market. They are widely used, most exchanges trade them and the accompanying wallet software is well designed and protected. The most popular trade directions are BTC to USD, ETH to USD, and ETH to BTC.
Use trusted exchanges. Before depositing substantial amounts onto an exchange, check user reviews, reddit, forums, etc. Sometimes a cryptocurrency exchange administration doesn’t provide the needed information if a problem arises. Save your funds and keep your worries at bay by reading the recent user reviews and complaints. Exchange hacks, service downtime, unstable work, users’ account blockings are just some of the things you can expect when dealing with an unknown crypto exchange.
Be cautious. Don’t trust people offering great exchange rates on telegram or other messengers. There are tons of fake exchange accounts and scammers which ask you to send money first. After you send them your money they disappear.
Avoid intermediaries. If you meet people who offer to buy crypto for you and promise fixed returns, don’t trust them.
Recently, the bitcoin and wider crypto market have grown in trading volume and popularity. The number of crypto skeptics are decreasing and there are no doubts that the mass adoption of cryptocurrency is just a matter of time. Buying crypto may seem challenging today, but in the future it will be as easy as buying a cup of coffee.
This article is not intended as investment advice.