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Best Cryptocurrency To Buy in 2018

FINANCE

Michael Owen, Lead Finance Writer

January 16, 2018

Unless you’ve been living underneath a rock for the past few years you’ll know that cryptocurrencies have become the next big thing. In the sense that everyone is talking about them and the hype is driving them up and up, and before we know it the bubble will burst. However, many people are purely focused on the more well known cryptocurrencies such as Bitcoin, Ethereum, and Ripple. It is worth mentioning that there are hundreds of other cryptocurrencies out there, all with potential to be something innovative, all it takes is a little bit of research and time. So we are going to run through some of the best cryptocurrencies that have the most potential.

Despite seeming like a great option at first, the large coins such as Bitcoin, Ethereum, and Litecoin have pretty much plateaued. Don’t get us wrong – there is still a lot of money that can be made through the major coins, but the most opportunity lies in “sleeper coins” that have solid tech but have not erupted yet.

Verge (XVG)

Verge is a particular cryptocurrency that focuses on anonymity and privacy for its users. We all know by now that Bitcoin was the first decentralized cryptocurrency, by using blockchain technology to make transactions public. Verge on the other hand takes it a step further by making transactions completely anonymous. It uses an exceptionally advanced version of blockchain technology, which is built on top of services such as Tor that is able to hide personal information, like your IP address. Now this is what makes Verge unique to other coins, and it starts with the implementation of RSK technology, making Verge the first privacy-focused cryptocurrency with integrated smart contracts functionality.

The total number of available Verge coins stands at a whopping 16.5 billion, which is monumental when comparing it Bitcoins 21 million. The developers of Verge have also taken steps ready for mass adoption, having developed several multiple wallet applications for different operating systems.

Verge has also made headlines in recent weeks about its Wraith Protocol, which makes it possible to easily obscure transactions in the private ledger. Although there is the option to remain transparent with your transactions, but it is commendable that they give the user an option about their security.

Naga (NGC)

Naga was developed by a company called NAGA Group AG, with the sole purpose to make transactions more secure. NAGA Group actually launched their own ICO and conducted a sale of 1 NGC to equal $1, and at the time of the ICO there was a grand total of 220,000,000 NGC tokens available to potential investors, with the hopes of raising $200,000,000 during the main sale.

NAGA Group have tremendous ambitions, and one of those ambitions is to incorporate blockchain-based technology to create the first legal ecosystem for virtual goods trading within the gaming community. It hopes to achieve this by using Switex, in which they hope to create a platform gamers and developers to profit in a fair and easy manner and take part in P2P trading.

Monero (XMR)

Monero is a secure and private digital currency system that uses a certain kind of cryptography to disguise 100% of transactions. In a world where we live in a world where everything we do is monitored and recorded, it is essential that we reclaim some of our privacy. Monero might be the answer to reclaiming some of that privacy, because a lot of other cryptocurrencies still aren’t 100% anonymous and a lot of people see this as a fault.

With Monero, you are in complete control of your own transactions, it gives you the control and responsibility that you’ve been looking for when dealing with your money. In fact no one will ever be able to see what you are spending your money on.

Cardano (ADA)

Now where the likes of Bitcoin and Ethereum are used for the sole purpose of sending cryptocurrencies to and from other users, Cardano is more of a platform that hopes to house the ability to run financial applications that are at this moment, being used to individuals, organizations and governments. When the developers of Cardano were creating the platform, they knew that they had to take steps to distinguish it from other technologies, which they done by introducing Layers. These layers play a very important role as they allow the platform to become flexible so it can be easily maintained and allow for future upgrades by using soft forks, that won’t corrupt the integrity of the framework.

Once Cardano has reached a certain level of functionality, it will be able to run a number of decentralized applications called dapps, and these dapps won’t be controlled by a central authority, but will run on a blockchain-based network. The developers of Cardano are always looking for ways to improve their technology and will hopefully become one of the most powerful platforms that runs financial applications.

Should I Buy Altcoins?

Although Bitcoin continues to be the most popular cryptocurrency, less and less people are interested getting involved with such a high priced coin. As new coins hit the market, virtual currencies will continue to rise and fall, with only the most solid tech standing the test of time. Before buying any cryptocurrency, always do extensive research and never invest more than you’re willing to lose.