Are you looking for the best cryptocurrencies to invest in 2019? It can be overwhelming and confusing to choose between different blockchain technologies to invest in. With hundreds of cryptocurrencies available, it’s tricky to pick the best one. And most probably you’re also wondering whether to invest in Bitcoin or Litecoin.
Ever since the inception of bitcoin, more and more people are making money out of this entirely-digital currency platform. These digital assets have become popular due to the meteoric rise in the price of Bitcoin and other cryptocurrencies in the past. As such, like the stocks market and other investment platform, investors are also getting interested in trying their luck in cryptocurrencies. However, this unregulated market is also subject to extreme volatility. This means investing in Bitcoins or other cryptos is highly speculative. It is because unlike traditional currencies, crypto coins are decentralized and are not controlled by any central bank or financial institution. The digital currencies work on the “blockchain” mechanism where every transaction is recorded in a public ledger using encryption.
Investment is all about knowing where to put your money in to get rich. In 2019, there are good chances of reaching a bull market. But you must always remember that trading in any cryptocurrency involves risk. So, the best way to minimize that risk is by diversifying your holdings and investing in multiple cryptos. By diversifying your holdings, you get some level of protection even if one currency underperforms. Moreover, before investing you also need to frame a successful trading strategy.
In the crypto industry, there are several altcoins beside Bitcoin. This means if you’re looking to invest in the crypto market, you need to know which coins have the best chance of generating profit in the future. With that in mind, we have compiled a list of the top 3 most promising cryptocurrencies to invest in for 2019. So, let’s take a look!
Bitcoin always remains the first and the most obvious choice to invest. As the world’s first cryptocurrency, Bitcoin is still the market leader with 40 percent of the total market share. The price of Bitcoin keeps fluctuating as it has gone from around $76 to as high as $20,000 in December 2017. However, ever since reaching its highest point in December, the price of Bitcoin has been dropping. But despite such volatility, Bitcoin still dominates the cryptocurrency market. In fact, Bitcoin should make up a significant portion of your portfolio because it’s the main trading pair for all other cryptos. There are several reasons that still make Bitcoin a strong contender in the market. BTC is an open source project which means anyone can contribute to it. Moreover, its core development team is constantly engaged in improving the Bitcoin network. Also, this digital currency is listed on every single cryptocurrency exchange. There must be something great about Bitcoin that even Charlie Lee, the founder of Litecoin had recommended traders to own at least 1 BTC before investing in any other cryptocurrency.
The next most trusted blockchain project in the world is Ethereum. It was launched in July 2015 by Vitalik Buterin, a computer programmer. In 2017, this cryptocurrency grew by about 3000% and its price skyrocketed close to $1600 on 13 January 2018. With this, Ethereum became the second largest cryptocurrency, next only to Bitcoin. The coin has caught attention from crypto developers and has begun to reverse its last year losses. ETH is affordable than Bitcoin but costlier than BAT and Ripple. This means as an intermediate coin, buying ETH can help make your portfolio more diverse. Ethereum is even more advanced blockchain technology than bitcoin which means it can hedge the risks of investing in newer coins.
If you’re looking for the best Cryptocurrency to invest in 2019 then Ripple can be the right option. Ripple is one of the most stable cryptocurrencies in the industry. As a low-risk investment and the most liquid cryptocurrency, Ripple sees more than $800 million trading volume in a day. Ripple technology holds the potential to revolutionize the way payments are done. In 2017, Ripple became the best cryptocurrency to invest as it jumped from just a couple of cents to $2.4. Now, the company behind Ripple is making efforts to make more companies using their technology. With this move, the price of XPR is expected to further go up. In fact, ripple technology is already used by big companies like JP Morgan, American Express, and Saudi Arabia central bank and MIT accept Ripple as a legitimate form of payment. With a market capitalization of over $18 billion and nearly 40 billion coins in circulation, XRP is the third largest coin behind Bitcoin and Ethereum. This makes XRP coin one of the best cryptocurrency to invest in 2019.