With exponential growths and declines, the inconsistency in the market presents opportunities for the smart investor.
No one can predict the future of each cryptocurrencys performance.
It is impossible to give a definitive answer to the best cryptocurrency to invest in.
However, an individual has to make a decision somewhere along the line.
These guidelines and criterions are not infallible.
They are always subject to interpretation and debate.
As such, this articles content serves as a point of discussion and not as financial advice.
The reader shall make his or her interpretation of the content provided.
To start the process of analysis, this article will look at the top cryptocurrencies by market performance.
This will also look for cryptocurrencies which can give contentment to market leaders in their respective sectors.
Firstly, there will be an elaboration of criterions for evaluation before discussing the top ten list.
Criterions For Evaluation
Project History
Most projects fail for a myriad of reasons.
Some ICO projects collapse after being revealed as exit scams.
Others lose popularity and support.
Others just did not get their bold ideas off the ground.
Other cryptocurrencies might not be among the top 10 cryptocurrencies but are industry leaders in their market segment.
For example, is a market leader for cryptocurrency energy sector or web net internet ride.
Nothing is set in stone when it comes to market performance.
Also, no one can anticipate the magnitude and effect of demand and supply.
History can then serve as a realistic estimate for future performance.
As the largest and most dominant cryptocurrency in the market, bitcoin is a market mover.
Its rise and fall can and have impacted the prices of other cryptocurrencies.
This is especially true for cryptocurrencies solely pegged to Bitcoin.
Since its release, there have been concerns over bitcoins scalability as demand for its use increases.
Without a centralized point of failure, Bitcoin has been a popular HODL cryptocurrency asset withbitcoin maximalist.
Thus, some consider bitcoin as the best cryptocurrency to invest in.
Ethereum (ETH)
Ethereum is the second-largest cryptocurrency by market capacity.
It has a circulating supply of approximately 107,000,000 Ether at $178 in the early September of 2019.
Initially, there is no data on the max supply of Ether due to its proof of work system.
However, it might change in the future.
Ethereum data pipe seeks to move into a proof of stake system.
Like Bitcoin, Ethereum has seen an astronomical rise since its release to the market.
It grows from roughly a dollar in 2015 to over a thousand in January of 2018.
Since then, it has retraced significantly.
Past performance cannot be a full-proof prediction for future performance.
However, the increase in value shows the potential for real growth.
It allows building and launching other applications on its web link.
A company owns Ripple and managed not by communities and developers but by corporate management.
Besides, it seeks to improve the efficiencies of the current financial systems rather than creating defragmentation.
Over the years, it has secured partnerships within the financial sector and has survived bear markets.
However, concerns still loom over its actual adoption and utilization by financial institutions on a large scale.
There have been questions regarding financial institutions by-passing Ripple and creating their cryptocurrency tokens.
Even so, Ripple has trough through the test of time.
It has also seen high potential yields.
This has given it more exposure and accessibility to public participation.
In its field, it has the potential to be the next best altcoin to invest in.
This creates a market called USDT market.
As a stable token, its value should not fluctuate and should be pegged to one US dollar.
While on occasions, negative news can cause its price to fluctuate below one dollar.
It has thus far only dipped to around eighty-four cents before eventually returning to its one dollar pegging.
Without volatility, how can one benefit from Tether?
This gives a sense of value protection for participants in the cryptocurrency market.
History has shown that its the price which is impossible to change.
Besides, Tether is the closest cryptocurrency to a form of a stable store of value.
A centralized entity controls Tethers Supply.
There might be concerns over a single point of failure that plagues all centralized systems.
Besides, Monero has the option to be selectively transparent.
As such, those looking for an altcoin to invest in can consider this privacy token.
It is an open protocol for peer to peer transactions on the Ethereum blockchain.
0X works by eliminating the intermediaries that traditionally facilitate a transaction or exchange of value.
Thus, eliminating the fee that these intermediaries will take as part of the transaction.
As an exchange, it is global and accessible to all.
Steem (STEEM)
Steem tackles social media on the Blockchain.
A promising altcoin, it deserves to be in the list for the next big cryptocurrency.
Enjin (ENJ)
Enjin is a blockchain solution designed for the gaming industry.
A promising altcoin in the blockchain for gaming space, Enjin is a cryptocurrency to watch moving forward.
Power Ledger (POWR)
Power Ledger is a blockchain solution for the renewable energy sector.
As a project, Power Ledger has reached a level of real-world utility in Australia.
This article is, therefore, for informational purposes only and should not be considered as financial advice.
As the industry continues to evolve, one has to be diligent in monitoring the market.
