14 Questions You Might Be Afraid To Ask About Which Cryptocurrency Is Best To Invest In 2017

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Dollars after the complete supply is in circulation, the supply won't ever grow, devaluing the currencys purchasing power. Smart Contracts Some cryptocurrencies have a feature that cant be reproduced with fiat currencies. Ethereum is among the best examples with its robust support for smart contracts, essentially several different uses, some of which we may not have yet imagined in addition to programs that live on the blockchain and can be used to manage transactions.

The contract can manage the details of a trade, only releasing payment when predefined conditions are met. Cost of Transfers The cost related to transports can be a pro or a con, depending on the type of currency, the type of transport, and the speed of the transfer.

Costs are less problematic for less time-sensitive transactions. Types of cryptocurrencies, such as Ripple, are fast an inexpensive to transfer technology by financial institutions. Cryptocurrency Disadvantages Cryptocurrencies come with a list of factors that could help investors make safer investments.

Market Adoption Awareness for Cryptocurrencies is growing, but most of the focus has been on Bitcoin. Few retailers accept cryptocurrencies for payment, but there are a few. Overstock.com announced in 2017 that they would accept cryptocurrencies as payment. Payments will be limited to Bitcoin, Ethereum Dash, and Monero, giving the 1,500 + cryptocurrencies that is other the cold shoulder.

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The cryptocurrency market can change quickly and options continue to be restricted although market adoption of cryptocurrencies for payment has been slow. As many as 1,000 cryptocurrencies have failed with more monies. The most common type of failure is in the Initial Coin Offering (ICO) or shortly afterwards, with many coins finding a crowded marketplace for coins with similar characteristics to present offerings, causing skepticism among investors.

ICOs are unregulated. Abandoned Cryptocurrency Projects Most of the investment cash for cryptocurrencies is focused on a small group of coins. Without investor interest, projects can get abandoned, leaving investors with coins that were basically worthless. Regulation risk has two sides regulation Risk As it pertains to cryptocurrencies. In the U.S., cryptocurrencies are not regulated at a national level, leaving states the option to present rules and regulations regarding cryptocurrencies or the blockchain technology that functions as the backbone for cryptocurrencies.

Cryptocurrencies and liquidity Risk Investors may find buyers, creating challenges when looking to exit a position. In regards to price volatility, volatility Risk investment classes can rival cryptocurrencies. Prices can rise or fall in a single day, making or breaking fortunes. Third-party Risk Mt. Gox, a Bitcoin exchange based in Japan, and the top exchange worldwide in 2014 was murdered, causing a loss of almost half a billion dollars in Bitcoin.

Secure Keys Cryptocurrencies are kept in a wallet, which can be secured by a code or a series of words. Unlike your bank account or investment account, there is no recovery procedure available if you lose your password. With no password, your cryptocurrency wallet and its contents are no longer reachable.

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Weiss spotlights a dozen cryptocurrencies it defines as being the weakest. More cautious investors might choose to appear at adoption rate, focusing portfolio investment on cryptocurrencies that are currently used in real-world transactions.

Fledgling cryptocurrencies may never discover the market, preventing investors from leaving the position profitably. Promising New Technology Ethereum and Ripple both owe their stratospheric profits in 2017 to the innovative technology built into their respective platforms, differentiating both cryptocurrencies from the crowded marketplace of often similar offerings. Safety or Anonymity Features Technology such as smart contracts, found in Ethereum and several different cryptocurrencies make transactions more secure by allowing a set of rules for each transaction.

Ripple and industry Utility Ethereum are good examples of cryptocurrencies beyond a medium of exchange with utility. Ripple, specifically, features its rise in popularity and a price appreciation of 36,000percent in 2017 to acceptance within the financial sector as a tool to transfer money around the world inexpensively and faster compared to conventional methods.

Redundant Technology Many cryptocurrencies are built on open-source code, making it relatively easy to clone an existing cryptocurrency, possibly making only minor changes to the code or the cryptocurrencys features. In these instances, the new currency may not provide enough unique benefits to justify investment or indicate that the currency will be widely adopted.

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Staying with monies which have shown signs of market interest is a safer bet. Low Market Cap Much as market cap helps to quickly distinguish between a Dow Jones stock and a penny stock, a higher market cap points to a more vibrant marketplace and greater liquidity. Thinly traded cryptocurrencies or people with a low market cap could be a trap thats difficult to escape if you will need to make an exit.

Cryptocurrencies with wider support on popular exchanges make it much easier to develop or exit a position. How We Chose the Best Cryptocurrencies The most daring investors can purchase new cryptocurrencies in the first coin offering or soon thereafter, following the example set by many of todays Bitcoin millionaires. However, there may never be a next Bitcoin, and the estimated 1,000 cryptocurrencies that have vanished into the electronic ether point to dangers for early investors.

Bitcoin (BTC) The granddaddy of cryptocurrencies, Bitcoin was first and is the most famous cryptocurrency on the market. Additionally, it benefits from the largest market cap and is one of the most highly traded cryptocurrency, promising liquidity in the short-term. Bitcoin is the king when it comes to retail adoption, leading the rest of the cryptocurrencies in terms of acceptance as a payment medium.

2. Ethereum (ETH) As the platform and currency that made intelligent contracts part of the cryptocurrency markets language, Ethereum has seen enormous gains since its debut in 2015. Currently monitoring just Bitcoin in regard to market capitalization, Ethereum has become among the most widely discussed cryptocurrency projects in the world.

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Morgan are constructing business-ready versions. With momentum and market enthusiasm behind the Ethereum project, theres no reason to believe Ethereum has run its course and investors should consider Ethereum as part of a cryptocurrency portfolio. 3.

Ripple Labs has announced several partnerships with leading money transfer services, with more financial market partnerships anticipated in the future. Unlike many cryptocurrencies that exchange on dreams and hopes, Ripple is being used in the real world now, showing signs of prospective adoption within the financial market community.

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4. EOS (EOS) Another cryptocurrency with smart contracts such as Ethereum, and which is gaining in popularity is EOS. Transactions on the EOS network are free.

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The longer-duration ICO was done in an effort to create an orderly market for EOS with no dramatic run-up and sudden crash shared to cryptocurrencies when started. YTD performance for EOS is flat, with less volatility than has been seen with some competitors.

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5. If forced to level criticism against Bitcoin in its current form, slow transaction speeds are among its principal challenges. Bitcoin money was developed using altered code in the Bitcoin project that enabled larger block sizes, promoting faster transaction times and better scalability.

6. Litecoin currently trades at about $84 USD, and although showing signs of consolidation remains actively traded and is consistently one of the top 10 cryptocurrencies when measured by market cap.

Higher trade rate also enhances scalability. Last Thoughts on Best Cryptocurrencies Cryptocurrencies are still in their formative years. First coin offerings can be tempting, especially with the parabolic rises common to ICOs.

More based currencies help to avoid some of the volatility and provide better liquidity than found with newly minted cryptocurrencies. Many early investors have found themselves without a viable way to exit the position.

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Craving more cryptocurrency knowledge Check out Benzingas guides to the best cryptocurrency market, how to exchange cryptocurrency and best cryptocurrency wallets.

When investing in cryptocurrency, one overlooked but important factor to watch out for is usefulness. Forget the flashy ICO adverts and look in how a cryptocurrency will be utilized. A utility provides these benefits to some cryptocurrency:Enhances liquidity A cryptocurrency that traded, transferred and is being used allows for investors to easily buy and sell said cryptocurrency.

Investors looking to profit from the demand also seek out it. Creates scarcity The more a cryptocurrency is in demand the longer users will acquire it, resulting in less coins in circulation. We'll look at three cryptocurrencies with use cases today.

PAN is being developed to work being able to move from the Ethereum blockchain for example.

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To make this happen, PAN is based on Token Atomic Swap Technology (TAST), which is essentially Atomic Swap technologies for inter-blockchain transfers between cryptocurrency tokens. To help bring this project to life, PAN has been developed in collaboration with researchers from various institutions that include:University of Vienna Research Institute for Future Cryptoeconomics (RIAT)Austrian Academy of Sciences If successful, PAN will allow near immediate cross-chain transfers, allowing users to move resources from one blockchain to another without needing to use a third party medium like an exchange.

For what they want to accomplish, the partners they work with (including Waves, Komodo, Lisk & NEM) and the minimal access to this token, I think PAN is quite undervalued. Omise Go (OMG)Omise Go (OMG) is currently sitting in a marketcap of $248 million and a price of $1.75 which is unbelievable considering the massive demand this cryptocurrency had only last year.

Omise was awarded Digital Startup of The Year by Thailands Prime Minister and has been featured in Forbes Thailand in 2016. OMG is trying to solve 2 problems:Hundreds of thousand people in Asia, and 2 billion people around the globe, are unbanked, meaning they dont have access to a bank account.

OMG wants to offer the unbanked population with an easy to use system to save, send and receive cash, in any asset or currency, for a very low price. To put it simply, Omise Go wants customers, vendors and merchants to easily transfer money across the globe, across any network using any type of money of asset type.

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OMG are targeting both people and Electronic Payment Providers that provides the cryptocurrency a massive room for adoption. The scale of the problem that OMG is trying to tackle is a really large one https://tokenbyte.net/ with countless millions of potential users in Asia alone (where Omise Go is based) and over 2 billion globally.