Cynics call Bitcoin, cryptocurrency and the emerging market in ICO-funded companies a scam, a fad, and a massive bubble. However, Bitcoin and other cryptocurrencies have continued to surge in value as the base of believers grows. Those who missed out on Bitcoin in 2017 are FOMO’ing (Fear Of Missing Out) into random alt-coins, hoping to see the massive returns that Bitcoin investors earned. Bitcoin is the leading cryptocurrency in every metric including market cap, price and volume. It may continue to hold its position as the reserve cryptocurrency against which all others are measured, but its pricing feels prohibitive, creating an opportunity for other coins to surge in value as they are recognized for newer, better, faster, less expensive technology and different use cases. While this is not financial advise, we rounded up a top list of 10 alt-coins to keep your eye on in 2018.
Ethereum is slated to be the biggest competitor of the Bitcoin that has grown more than 40X since its creation in the last two years. Ethereum has surged over 1000% and could achieve the same feat in another few months. In addition, many new tokens and alt-coins leverage Ethereum’s ERC-20 protocol as their underlying technology. In other words, as they grow, so does Ethereum. Did you happen to notice that it broke $900 this week?
Litecoin is considered an alternative to Bitcoin. With over 54 million coins in circulation as compared to Bitcoin’s 16.7 million, the aim is to make it the altcoin of choice. Like Ethereum, Litecoin can be utilized to execute smart contracts, using MAST technology.
Cardano has features similar to Ethereum and is dubbed the “Ethereum killer.” There are plans to release a debit card that can be loaded and used anywhere. Cardano shot from $0.02 to $0.40 in two months.
This decentralized storage option seeks to unseat cloud storage companies like Dropbox, Amazon and iCloud. You need a definite number of coins to access the service or rent the space to others for a fee and because the coins are limited, the value may rise.
This privacy coin’s value shot from $50 to $300 in a few months, arguably not because of hype but because their technology actually works. By displaying a cryptographic hash that can only be deciphered by the sender and recipient, it ensures the coin and its transactions remain anonymous.
This coin is positioning itself to become the Ethereum of China, assuming that the country relaxes its stance on Bitcoin and ICOs. Neo has 65 million coins in circulation out of its cap of 100 million coins.
With 17,000% growth in 2017, Ripple has surpassed Ethereum in market cap and was neck and neck with Bitcoin Cash as Bitcoin core’s successor. Banks are testing Ripple’s technology for cross-border transactions, and it’s earned a spot on the Bloomberg terminal.
Bitcoin Cash (BCH)
Bitcoin core (BTC) forked into BCH as a solution for users that were frustrated by high fees and slow processing. Due to its huge block size limit, it can handle faster transactions at a lower cost. If it becomes adopted by more users Bitcoin Cash may be a cryptocurrency to watch.
The Ardor platform is supportive of a wide range of features like account management, voting, and blockchain data storage. Implementing its child chains is the apex of its innovation as it allows customization to make it applicable for different institutions and applications.
Factom is an optimized alt-coin that stores real-time records with a single hash allowing companies to create an irreversible real-time database that lives on the blockchain. Factom works with different apps in China and other countries to create an immutable database.