Cryptocurrencies appeared out of nowhere, and their growing popularity took many by surprise. The early believers made and lost fortunes then made and lost them again, due to the extreme volatility governing the industry.
Lately, the cryptocurrency market calmed a bit, signaling a more mature approach by both investors and traders. Every cryptocurrency trader keeps thinking on the late 2017 rally when virtually all cryptocurrencies advanced in parabolic moves. Bitcoin, the leading cryptocurrency, almost reached $20000, making a lot of traders wealthy beyond their wild imagination.
Obviously, the parabolic advance brought attention to the media, and the FOMO (Fear Of Missing Out) made people buying right before the peak. The market corrected ever since, but investors still believe crypto is the future of money.
If that’s the case, what is the best cryptocurrency to invest in? At the end of last year, there were over 1600 cryptocurrencies, and the number rose to 2322 in late July 2019.
One can’t trade them all. It’s impossible to spread an investment having so many options. However, picking the right ones to build a crypto portfolio might just be the appropriate way to invest.
Here’s a guide for choosing the best crypto to invest in 2019.
Best Cryptocurrency to Invest
The following ten cryptocurrencies provide the best opportunities to invest based on the performance so far during the year and on the fundamentals provided by the crypto market.
Bitcoin – The Best Crypto Out There
The “father of all cryptocurrencies”, Bitcoin hold the financial headlines when it almost reached $20000 in a matter of a few months in the late part of 2019. Created over a decade ago by the anonymous Satoshi Nakamoto, it is a digital currency used in transactions verified by network nodes using cartography and recorded on blockchain (a public distributed ledger).
It grew in popularity so much that nowadays we talk about Bitcoin wallets, plenty of Bitcoin transactions and it is a widely accepted method of payment on both physical and online stores.
It currently trades at almost $8000 after it put a double top around the $13000 during the summer. It gained over 400% in the course of a few months from bottom to top, making it one of the major rallies in the financial markets in 2019.
By far, the most popular and well-known cryptocurrency, Bitcoin is one of the main reasons why investors and traders alike diversify their financial portfolio with digital assets. It is only normal if you think of the huge market capitalization of almost $150 billion and an immense daily trading volume of about $17 billion.
Out of a maximum supply of twenty-one million Bitcoins, there are already over eighteen million in circulation, mined in the last years. As the mining industry bottoms, or it finds it more and more difficult to earn a Bitcoin, the focus sits now with the increasing use of Bitcoin in the international financial system.
There’s literally no investor that doesn’t have exposure on Bitcoin, making it one of the best cryptocurrencies to add in your portfolio.
Recently, financial media focuses on another interesting aspect of Bitcoin. It moves and trades as a store of value.
Few assets have such a characteristic in the financial world, and if that’s the case, having exposure on Bitcoin makes sense from all points of view.
Litecoin – One of the Best Cryptocurrencies Ever Created
An early Bitcoin spinoff, Litecoin has a supply limit of 84 million coins and operates on its own blockchain. A peer-to-peer cryptocurrency, Litecoin is almost identical to Bitcoin.
It is no wonder it performed in an almost similar fashion in 2019 – tripled in value in the course of a few months, then correcting in a clear downward channel.
Litecoin formed a bearish pattern in the summer of 2019 in the form of a head and shoulders easy to spot on the chart above. From the moment that the neckline was broken, traders sent it all the way down to where the measured move pointed.
Now, the focus is on the possible reversal pattern. Traders, as well as long-term investors, monitor the charts for inversed head and shoulder, falling wedge or double or triple bottom to form, as a sign of flows pouring in the Litecoin again. That would be a signal to add one of the best crypto to invest in a portfolio.
Ethereum – A Cryptocurrency to Invest in Now
Developed by Vitalik Buterin six years ago, Ethereum is a decentralized virtual machine executing scripts on a public notes network. Its currency, the Ether, rose to fame after exploding in value in the crypto rally ended in 2017.
Currently trading at a little over $155, it offers a great alternative to diversify a crypto portfolio with one of the best cryptocurrency in the world.
With $18 billion in market capitalization and a daily liquidity rivaling with any asset, Ether is one of the most interesting cryptocurrency to invest in now. The recent downtrend since the summer of 2019 offers the possibility to go on the long side on a break of the bearish downtrend. To spot that, simply check the downtrend conditions to break: the price must stop making lower lows and lower highs. When the series break, investors, speculators, short-term traders, and scalpers, they all jump on the long side to take advantage of the opportunities in this digital asset.
Dashcoin – The Digital Cash
Creators of Dash claim you can move Dash in a second for less than a cent. They’re right, and it makes the current fees and transactions charged by traditional banks, outrageously expensive. Is Dash the future of cash?
Judging by the market capitalization, it has many followers. With a circulating supply of 9.1 million coins at the time this article is written and a maximum supply of 18.9 million coins, it trades around $66.68, following the same pattern for the year like the other cryptocurrencies presented earlier.
Emercoin – Disruptive Technology
A blockchain platform, Emercoin aims at disrupting traditional industries. It deals with data protection and the creation of distributed services, among others.
Currently trading at $0.077, it offers a great opportunity to diversify the crypto portfolio with a cheaper coin. It has a billion coins maximum supply and a circulating supply of only 44.6 million coins.
Namecoin – A Bitcoin Software By-Product
Forked from Bitcoin software, Namecoin is limited to 21 million coins. First developed in 2011, it stores data for every transaction in the blockchain.
Trading just shy below $0.4, it has 15.8 million coins circulating out of a maximum of 21 million coins.
Ripple – Future of Payments
Developed by Ripple Labs in 2012, this coin aims at changing financial transactions around the world. A real-time gross settlement system, Ripple supports tokens of fiat currencies, commodities, and even mobile minutes or frequent flier miles.
Currently trading at around the $0.3 level, it followed the general crypto trend in 2019, peaking in the middle of summer after almost doubling in value.
XRP is the cryptocurrency used in the Ripple network, and it has a strong future potential. Recently Ripple CEO claimed that the company is expanding rapidly throughout the financial institutions’ network, signing around thirty new contracts each month. Hence, having Ripple in your portfolio makes sense from an investment point of view, considering the potential adoption rate.
EOS – The Smart Contract Platform
A blockchain protocol, EOS operates as a smart contract platform claiming to conduct millions of transactions per second and to eliminate the transaction fees. One can create decentralized apps on the blockchain, in a similar way like on Ethereum. It has over 6000 active users on the block.one created EOS in 2017, and one of the best cryptocurrency with potential out there.
EOS currently trades at $2.89 and follows, and it reached as high as $8.24 in June 2019, making the current correction a good opportunity to add EOS to the crypto portfolio.
Monero (XRM) – Your Privacy Matters
Focused on privacy, transactions on the Monero blockchain can’t be tracked. It issues new coins and approves transactions only with a proof of work consensus algorithm. No one else can see people’s balances or transactions, as Monera ensures 100% privacy protection.
With almost a billion dollars in market capitalization and around $82 million daily traded volume, Monero is one of the best cryptocurrency to invest in 2019.
It currently trades around $56, down in the recent months as the entire crypto market. However, Monero is a must-have in any digital portfolio due to its privacy features and security of transactions.
NEO – The Dual-Token Ecosystem
An open-source blockchain application, NEO was born in 2014 and rebranded in 2017 under the current name. It aims at managing digitalized assets using smart contracts.
Currently trading at $7.24 at the time this article is written, NEO has an impressive ROI rate of over 3800% since inception. It means that, if purchased at the time of the launch, the investor would have gained a ROI in excess of 3800%.
NEO has a market capitalization of over five-hundred million dollars and a daily trading volume of over two-hundred million dollars, making it one of the best crypto assets in terms of liquidity. It reached an all-time high of $196.85 on January 2018, highlighting only some of its potential.
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