Cryptocurrencies are digital money or tokens which either represent a value or give access to a specific product/service, depending on the type. But more than anything, Cryptocurrency has been popular as a means for investment in the market-linked digital commodities. But when it comes to investing in cryptocurrencies, there is no one right choice. With so many digital currencies out there, it can be overwhelming to select and invest in the best one, especially for the beginners. We are here to help.
In this article, we will talk about the best cryptocurrencies to invest in 2019. But before that, let’s first try to under how cryptocurrency investments work in the first place.
Cryptocurrency Market – Should you invest at all?
Before we move further into this article, it would be beneficial to know the past and present status of the crypto market in order to analyze its value.
If you are planning to invest in cryptocurrencies, I’m hoping that you understand the fact that cryptocurrencies are highly volatile, even more than your regular equity funds. The value of cryptos changes more frequently than you can imagine. While this might be a bad thing for long-term investors, this is certainly good for those traders who are looking to make quick profits with day trading.
Another thing you should know about the crypto market is that it has grown very fast in a very little time. Until a decade ago, many of us hadn’t even heard of cryptocurrencies and there existed only one or two cryptocurrencies like bitcoin. However, as of June 2019, the capitalization of the crypto market is over $350 billion USD, and there are more than 1500 cryptocurrencies out there.
In the past couple of years, 2017-18 to be precise, the crypto market has boosted up at never-before rate, with the price of bitcoin changed from $907 (Jan 2017) to an all-time high of $19,535 (Dec 2017). That means, the price increased by more than 20 times in just one year. The overall market cap of cryptocurrencies grew by nearly 4000% between this period. (Source: coinmarketcap)
And today, the crypto market is not just about bitcoin, but there are multiple other cryptocurrencies such as Ethereum, NEO, Litecoin, and Ripple that are doing pretty well and are definitely some of the best cryptocurrencies for investment.
Investing in Cryptocurrencies
Now that you have a basic idea of the crypto market, let’s now try to understand how this market works and how to invest for the best profits.
Just like any other investment, you should be planning your cryptocurrency purchases very carefully, considering things like the maximum amount you want to invest, how long you can invest for, what is your ultimate goal – quick profits in short term or high profits in the long term, etc.
Depending on your goals, you can invest in two schemes – long term, or short term.
Long-term Cryptocurrency Investment:
As the name suggests, in this type of investment you invest in a cryptocurrency with the hope to get good returns over a longer period of time (min 6 months). The best cryptocurrencies for this purpose are the ones with long-term use cases and less volatility.
Short-term Cryptocurrency Investment:
This type of crypto investment requires you to invest and withdraw in shorter periods of time (1 day or week), depending on the market price of the coin/token. You buy the crypto when the price of low and sell it as soon as the price goes significantly higher, irrespective of the time. Cryptocurrencies with high trading volume and market hype are the best for this type of investment.
Best Cryptocurrency to Invest in 2019
Bitcoin has since long been the favorite investment cryptocurrency of professional investors and newbies alike. It is also the biggest cryptocurrency in terms of market cap, with an all-time highest share of 70% in the crypto market.
Bitcoin is so popular that most people know it as an investment currency rather than as a digital currency for payments. But nevertheless, the main use of bitcoin is for making global digital payments.
The price of bitcoin has changed a lot in the last decade, but the actual boost was recorded in 2017 when the price increased by about 20 times within a year. At the time of writing this article, Bitcoin was trading at $10,204 USD.
The price of bitcoin changes frequently depending on its demand and trading trends. The best time, usually, to buy bitcoins is when the price is high, or when the market (news, trends, etc.) says it.
For a very long time, I (and many others like me) have waited for a cryptocurrency that could resolve the problems of bitcoin and present a more usable case of digital currencies for the common people. Titan coin does just that.
Titan coin is a payment-focused digital currency that is built to overcome the security and speed limitations of bitcoin. Compared to bitcoin, the transactions involving titan coin takes only about a few seconds to process. This is because of the use of hybrid blockchain by the titan coin network.
Moreover, titan coin also presents a number of use cases in the form of titan projects to create and maintain a healthy demand for the cryptocurrency and to keep the price stable. So, this is one of the cryptocurrencies you can invest in for the long term.
The best time to invest in the titan coin is now because the price is currently low and is expected to go up as soon as the projects are launched later this year.
Besides BTC and TTN, ETH (Ether) is the third cryptocurrency I would recommend to invest in. I have always been a fan of the Ethereum blockchain because of its open nature, as it allows anyone to build decentralized applications and new tokens on its network.
Just like Bitcoin, ETH has grown tremendously in the past few years and is now one of the highest trading coins in the market.
If not for ETH itself, invest in this cryptocurrency for hundreds of tokens that are built on this platform. This is one of the reasons why Ethereum will never fail and will continue to grow.
Another coin that is presently doing better now and has great potential is Litecoin.
Crypto investment can be a very lucrative and profitable market for those who understand it. How much you can make from it will greatly depend on how wisely you invest and in which commodities. Just remember the golden rule – invest only what you can afford to lose.
So, this is all we wanted to tell you in this guide about the best cryptocurrencies for investment in 2019.JOIN OUR COMMUNITY