There’s no denying that 2017 was definitely a great year for Bitcoin. What was once a difficult concept for many people to grasp has become the topic of conversations in social settings. What some may not realize is that there are many other altcoins thriving in the market as well. In 2018, these five cryptocurrencies will be coins to consider for a long-term portfolio.
Litecoin has been referred to as the silver of cryptocurrencies. It is one to watch in 2018 as it has much lower transaction fees and faster transaction speeds than Bitcoin. It was created by Charlie Lee in 2011 as a way to ensure that more individuals could participate in the cryptocurrency space. Its total market supply will be 84 million coins, and it currently has 54 million of those coins in circulation.
Anonymity and privacy are important factors amongst many individuals who decide to use cryptocurrency. Monero is a coin that fits the bill for these factors as it leaves an untraceable paper trail for individuals who utilize it. The current circulating supply for this cryptocurrency is 15.5 million with no plans for a limited total supply.
Neo is involved with providing faster deployment and development of projects and smart contracts. It has the ability to provide developers with the capability to build on various programming languages such as Java and C#. It benefits users by giving them the ability to trade, register and circulate many different types of digital assets.
This crypto was created when a team of developers and investors forked the original Bitcoin ledger. The main difference between the original Bitcoin and this coin is that Bitcoin Cash contains a larger block size capacity. This allows its blockchain to handle confirmations at a quicker pace. The benefits are lower fees to the end-user. Opinions are mixed on this feature as some critics believe that a higher block size takes away from it being decentralized. Time will tell if this crypto will become the new digital gold standard. If it does, investors will want this in their portfolio.
In the future, a network known as the Internet of things will connect homes, vehicles, appliances, electronics, and sensors. This network needs the backbone to operate — that’s where Iota steps in. Instead of utilizing blockchain, it uses a technology known as “The Tangle” to record and distribute ledger transactions. This crypto has already been able to achieve off-line transactions as well as zero cost transactions, and it has an infinite scalability.
The crypto space is only beginning. The future will see many changes, but these five coins are already leaders in a digital world that are constantly growing.