This question, “Which Cheap Cryptocurrency Should I Invest In?” originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers below are by Admir Tulic, Ron Reiter, Katerina Gemskaya, Devin Milsom, Michael Taylor, Jim Reynolds, Tom Vanlint, Bhavesh Patel, Mayur Chavan, Saugat Sthapit, Hans B, Mohammad Irshad, Ahsan Lakhany, Rahul Sharma, Raj R, and David Gonzalez.
That’s not a smart way to invest. Everyone just shills what they invested in, the bag they’re holding. You need to do research and find out with technological hurdles there are with Bitcoin and which coin(s) solve real, structural problems.
But, since shilling is popular these days, let’s shill. You can divide all the coins in couple of tiers.
ETH – When In doubt invest in ETH. Nobody and nobody and I mean nobody would ever tell you it was a bad decision investing in ETH.
Stratis – Direct competitor to ETH with side chains, focused on business application of blockchain.
NEM– Sleeping giant. I never hear or read anything bad about NEM.
Sia – Lots of potential, again as said above, no PR or marketing and still potential Top 10 coin. Drawback is a huge total supply.
Factom – A solid coin with a relatively low market cap and has received grants from the Bill and Melinda Gates Foundation.
I would say Bitcoin is undervalued right now. A lot of people want to buy it and have not yet bought it, more than other currencies. The more you’re a techie, the easier it is for you to buy alt coins. However, the non-techies have heard of Bitcoin and want it, and did not yet buy them.
Cheap is a confusing word. You might refer to a single coin, e.g. 1 Bitcoin. But a single unit is meaningless. What matters is the market cap in USD for a digital cryptocurrency, not the value of a single coin. A single coin is literally defined by where the developers chose to put the dot in the fraction. The right measurement for coins is which fraction of the total supply you are buying.
I’ve found for you an awesome upcoming ICO (Nov, 21) with a huge potential. I am talking about MeetnGreetMe (in case you don’t know it is a peer-to-peer platform focused on delivering concierge services all over the world). On their landing page you can find all the information and whitepaper + terms of bounty program as well.
They are introducing new cryptocurrency – WelcomeCoins (WELs) and 1 WEL = 0.10 USD or 1 WEL = 0,0004 ETH. Quite cheap.
Neo ($28) has been around a lot longer than most people think. Neo was formally called Antshares and is often referred to as China’s Ethereum.
The Asian market represents around 30 percent of the overall cryptocurrency market. When China announced that it was banning all crypto exchanges, the price of BTC (and therefore the market) dropped from around $4,600 to $3,200. It is clear that China has a large influence on price in the crypto world and this is important to take into account. The main reason I invest in Neo is because the founder of Neo, Da Hongfei, advised China to ban ICO and exchanges! As crazy as this seems, this choice was a strategic decision that allows Neo a lot of leverage with the Chinese government after the election takes place on the 18th October 2017.
No one can predict if China will unban exchanges anytime soon, but with Neo complying with regulations and advising the government on blockchain, I am optimistic about China’s support for Neo in the longer term.
I wrote about Neo being China’s Ethereum here: blockchainblog
You want to buy value, not speculate the price of a currency in crypto. If your timeframe is 6 months, the following are some good picks:
Make sure you use a hardware wallet to store your coins. Coinbase is a great place to start off if you’re new. Join Our Crypto Community of 2000+ Strong on Slack here.
This question is misleading. Everything has the value that the market determines. Nothing is cheap or expensive.
Do you mean, “Which undervalued cryptocurrency should I invest?”
Value is derived from use/utility. Which cryptocurrency has the most utility?
Utility is a relative term because utility to one person is not the same to another. Some want a currency and others want a store of wealth.
There are a few competing contenders for the title of the most valuable cryptocurrency, IMHO in this order:
Kucoin – It’s only listed on Coinmarketcap for a very short period of time so it’s really new. It are shares in a new exchange located in Hong Kong that opened it’s doors the 15th of Sseptember. It’s the first to list Red Pulse tokens and is one of the only exchanges that distribute GAS when keeping NEO on their platform. You can check out the other coins that they list here.
With those shares you get a daily dividend of all the income the exchange generates. Kucoin.com returns at least 50 percent of their revenue from trades back to investors who hold Kucoin shares on the exchange.
Great way to earn some passive income in the form of daily dividends. Owning Kucoin shares allows you to reduce the trading fees on the Kucoin exchange up to 30 percent.
And of course, always do your own research before investing into something.
I would suggest to buy some of the coins I have listed below or other any potential coins which are already in exchanges. Each of the below coins have working or beta products and current price is too low compared what they are bringing. I think this is the right time to buy as current price of most of the below coin is even less than their ICO price.
Take a look at this ICO. It has great potential.
UNIVERSA is 1,000 times faster than Bitcoin and 100 times cheaper than Ethereum.
Don’t take Michael Taylor’s word. Don’t take his suggestions. He made “$4m” and he now thinks he is genius and has been posting answers about all the scam coins like Etherparty and such. Basically he is doing advertising, so don’t take his word.
Rather, go to Cryptocurrency Market Capitalizations | CoinMarketCap. Check the market that has less capitalization. Check its whitepaper, do the research on GitHub on their activity, check team history, their vision and how are they trying to solve (technically especially).
You also need to know when to buy and when to sell. Basically, day trading is bad in crypto. Always HODL.
There are several cryptocurrencies which are interesting. Recently a few ICOs came out which have a lot of potential in my opinion:
It also depends if you are looking for a short or long-term investment.
Try to get Crypterium. It is under ICO now. The price is now around $0.70 now. When they launch in exchange it may come for higher price.
Crypterium is a cheap cryptocurrency which I have invested in recently.
If you haven’t already heard about these coins, here’s my top picks for 6 months time period:
Invest after hardfork. Don’t put your btc now. Get the free btc2x, then buy.
Cheap will never yield you goods results. Investment cannot be cheap.