You will be happy to find out that it is 2018 and altcoins have multiplied to levels where you ought to ask yourselves if they are just the next big thing and a logical step in the evolution of money.
Sure, blockchain arrived first. Bitcoin sprouted shortly after, and for a fair bit of time now, altcoins have kept a relatively low profile. However, things are about to change.
Doomsayers are already quite happily spelling an end of Bitcoin, expecting its value to plummet before the year is out. Meanwhile, it is still 2018 and it is time to prepare for the altcoins which could make headlines this year.
In this article, you will learn about:
Dogecoin: Barking up the Wrong Block
Dogecoin creator Jackson Palmer has always been fascinated with blockchain and cryptocurrencies. Well, always is a long time, but it suffice to say he has followed those bits of digital gold since they sprouted into existence in the late 2000s.
Mr Palmer liked a good story as much as anyone did, so he toyed fitfully with the idea of launching his own cryptocurrency. On 6 December 2016 he did.
Apparently, investors didn’t get the joke. Several days ago, Dogecoin was already worth $ 2 billion and Mr Palmer still sounded like someone who was intrigued with the development, but remotely – as a backbencher who is not even interested in joining the general hubbub around cryptocurrencies. Dogecoin may not be the oldest joke in the books, but it will certainly be the only one that is presently estimated at $ 2 billion.
NEM: The Crypto Coin For The Common Man
The future belongs to NEM. A cryptocurrency which has shot up in value fivefold since October, 2017, NEM is now worth over $1. You may be tickled to crack a smile now, but we will have to stop you right there. NEM has been actively looking to accommodate many blockchain practices used in fintech banking. Because NEM is actually trying to play ball with the established financial order, it is de facto at a much lesser risk of instinction, unlike the man of the hour – Bitcoin.
Steem: Upending the Established Order
Steemit is an exciting new model in blockchain currencies. Steemit is a giant social media, which resembles established discussion boards such as Quora and Reddit. It is more, though. Basically, it is an open community where users are encouraged to create content in the form of words.
All you need to do is post engaging articles, short write-ups or anything that will help you drive interest in your own piece of text. Similar to agora-like communities, your topic will be either upvoted or downvoted. The further up the rankings you go, the more steem-dollars you will be rewarded.
You may act as an author, a curator (tasked with checking and rating authors’ content) or both. In a word, Steemit is an engaging blockchain-based social media and an example how the future of money can be completely recast.
Stellar: Solid Pricing Options
Stellar is an obscure cryptocurrency traded at a fraction of any worth-it price. Just under $0.50 Stellar is not exactly something Warren Buffet will readily look into. Nevertheless, it may still prove exciting.
For starters, much like Steemit, this crypto coin makes use of blockchain technology which tackles transactions in the matter of split seconds. It can also facilitate exchanges of fiat currencies, which is an interesting concept in its own right.
On top of that, Stellar grabbed some attention from companies who announced in 2017 that they would be launching Initial Coin Offerings soon. More are likely to follow.
The State of the Crypto Temple
Nobody can predict what way cryptocurrencies will go. A reasonable investor would recommend you to keep away from the hot ones, including Bitcoins and Ethereum. If you are looking for a foothold in cryptocurrencies, altcoins is the way to go.
With mainstream offers reaching well beyond the purchasing power of the average investor, sowing the seeds of a profitable long-term venture and reaping the benefits tomorrow may be worth one’s while.