How can one invest in Cryptocurrency?
This question originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers below are by Zaylan Jacobsen, Mark Johnson, Balkrishna Poudel and Ashish Singhal.
Answered Jun 12th, 2017
Originally Answered: How can I invest in cryptocurrency?
You are now invested in cryptocurrency! For those with a little more passion and ambition about crypto, continue on.
For more information on altcoin trading, request an answer or shoot me a message.
For increased security, research Hardware Bitcoin Wallets, which will allow you to possess your coins independently.
Answered Oct 15, 2017
With over 1300 cryptocurrencies (and counting!), it’s extremely difficult to predict which ones will end up on top. Considering the speed at which most of these coins have grown in value over the past 6 months, it’s evident that we are entering a bubble similar to that of the dotcom boom. What this means is that while many of these coins will lose most of their value in the next 3 years, there will be a select few that will come out to become household names like Google, IBM, Apple and Microsoft did.
So how do we find out which ones are the best cryptocurrency to invest in? By selecting them with their future potential in mind.
Best Cryptocurrency To Invest In:
While there is no single best cryptocurrency to invest in, there are many that I believe will come out victorious in the medium and long term. I chose these cryptocurrencies using the following criteria.
While this list is far from exhaustive, it provides a strong framework with which to choose your cryptocurrency investments. Here are the 6 criteria to always keep in mind before adding a coin to your portfolio:
Real Life Use. Does the coin offer a real life use? Some coins are used as a store of value (like Bitcoin, Dash, ZCash, Etc.) while others are used for entirely different purposes, such as Lucid Exchange with decentralized derivatives trading. Make sure to invest in coins that have a future use, and aren’t simply another replica of some of the existing coins. We’ll cover some of these examples below.
Strong Development Team. The developers are the most important part of the equation. Are they actively developing the blockchain technology? Is there a growing community of developers working on the project? Is the team made up of legitimate people with a proven track record of success? Always do your due diligence before investing in a coin.
Security of the network. Are there enough network nodes? Is there a system in place to ensure that the blockchain network will always have enough people to remain decentralized? If you can’t answer yes to these questions, then don’t invest in the coin.
Communication. Does the team communicate with its investors? Does the team have a clear growth map in place? Is there a community where you can learn about the latest development.
Coin was not significantly pre-mined. Often the development team takes a large portion of the pie. It is important to stay close to the community to see what the general feeling about this is.
Don’t Keep Your Coins On An Exchange – You Will Eventually Get Hacked!
Best Cryptocurrencies To Invest In – Octomber 2017
With the above criteria in mind, I came up with a list of coins I believe will come out on top. It also allows you to diversify your portfolio, having coins that offer completely different benefits. Make sure you keep your coins in a safe wallet on a usb key, such as these ones.
Ethereum. This is by far the most important coin to invest in. It will serve as the basis of an entire ecosystem of “DApps” (Decentralized Apps). In the same way that Apps were the big thing in the past decade, DApps will become the next big thing. The reason for this is that all the DApps can communicate with each other, since they are built on the same blockchain. This allows for efficient cross-industry interactions which were never possible until now. It’s like a global supercomputer that can communicate cross-industry.
Bitcoin. There are 5 major phases of adoption, and we are only entering phase 2. As digital coins become an acceptable form of payment across the world, the current leader will be difficult to unthrone. With the development of a scaling solution, Bitcoin might just remain on top for a lot longer than we think. The entire community is developing rapidly, with radical projects such as BitNation and the Blockchain Education Network.
Waves. While Ripple became the third most valuable coin for working with banks, I believe it is a risky cryptocurrency as it is not truly decentralized. This is where Waves comes in. This is a coin that offers similar benefits that Ripple does, such as the ease of creating new coins on the blockchain, while remaining a completely decentralized blockchain.
Omisego. This coin is one of the major coins in Asia. The team is composed of individuals with a large vested interest and a lot of connections including one with the father of mainstream crypto Vitalik Buterin (founder of Ethereum). They recently announced a partnership with McDonalds to have people pay their food using OMG Tokens! I think this coin is only going up for the next few months!
Factom. This smart contract blockchain already has enough contracts to be worth double its current price. It works mostly with defence contracts, having the US Department of Defence as one of its major clients.
PIVx. This coin is a faster and more efficient version of DASH. I believe it is a risky bet that may come to dethrone Dash in the coming months. This coin is also more speculative than anything else though so beware.
Golem. This technology will allow you to rent out unused computing power. They believe they are creating one of the next internet norms, and I believe it. If you expect the world to be run by computers in the next 5 years, then this coin should be part of your portfolio.
Storj Coin. Decentralized cloud storage will become a norm. And when it does there’s a strong chance this project will serve as its leader. It’s main competitors are SiaCoin and FileCoin, both of which could also be great pics!
Only Invest What You Can Afford To Lose. Click here to watch Crypto Investing Pro’s VIDEO about the Crypto-Currency Evolution!
ALL OF THESE COINS ARE RISKY. I cannot make it clear enough that you should not invest money you aren’t willing to lose. For example, Ethereum could lose 80% of it’s value in 10 minutes if it’s founder Vitalik dies. Another example would be that BAT could lose everything if they don’t get a strong enough user base or if Google builds a better app.
Each coin has its risks, so it’s up to you to do your due diligence. Nevertheless I have already seen a return of over 500% since initiating my position in most of these coins, and believe this is only the beginning. You could also get hacked, especially if you are not leaving your coins on a separate usb key wallet.
Answered Jul 30th, 2017
Buy Bitcoins from Coinbase, Bitpanda, Coinmama, LocalBitcoins or CEX.
Sign up to an exchange like Bittrex, Poloniex, Kraken or Shapeshift.
Buy some altcoins (coins other than Bitcoin), if you are new you might want to start with Bitcoin, Ethereum, Litecoin, Nem, Monero and other “blue chip” coins, find out why here: How to profit in cryptocurrency — Steemit
Research some coins to invest in, browse BitcoinTalk, Reddit and YouTube, you can find more detailed research tips here: Cryptocurrency Investment Tips For Beginners Chapter 1: Getting Started — Steemit
Store your coins in their official client wallets, paper wallets or a hardware wallet like the Ledger Nano S for the best security.
HOLD! For at least a year or two.
Answered Nov 28th, 2017
Originally Answered: What’s the best way to invest in Cryptocurrency?
Although lending platform known as a high risk to invest, have you noticed? now a days many of lending ICOs generally not available to buy at the period of lunch because of heavy demand. I’m sure most people have heard of Bitconnect, Regalcoin, Hextracoin. which has gone on to have a market cap of over $1.7 billion just this year. Hextracoin and regalcoin goes form $1 to $42 with in a month. So, here are some upcoming coins, many these coin is aiming to launch a similar platform but mainly using lending,staking and locking boost program. The new platform will use an ERC20 token and run on the Ethereum network.
The new platform promises to pay users high rates of interest in return for lending them money, look some of them.
SFI Blockchain Technologies limited: It’s the Most Anticipated Lending Platform Ico Of The Year! first stage sell is $0.10 which is guaranteed to be sold out fast. . Try To Have Any Chance Of Buying Some Coins At Only $0.10 Per Coin. it has started on the 27 Nov.(click login button for create account).
Neoconnet :-it a New Lending ICO looks promissing providing following Futures Mining , Trade ,Stake ,Lending and also Services ICOs also got 2 free neocoin free.
Steneum:- does not use fiat like US dollars for its lending program, so if you lend 1,000 STN, you will get back 1,000 STN, not USD 1,000.Unlike other coins, Steneum is unique. It is a real project that generates real benefits for its team and investors.
Video game enthusiasts will soon reap significant rewards for playing and streaming video games. Refereum, a new blockchain startup based in San Francisco, has quickly built momentum amongst online gamers with the promise of directly connecting parties involved to transform game marketing and engagement for all. Refereum is a technology company founded by game industry veterans with the goal of uniting content creators and marketers using the Ethereum blockchain. Refereum bypasses traditional advertising companies and other complex, legislative or geopolitical restrictions, to funnel billions of advertising dollars into the hands of gamers and online gaming personalities.
It is currently preparing to host an ICO, set to begin on December 12th, 2017. RFR utility tokens up for sale at an initial rate of $0.01 per token. Please remember Only Invest ,That amount online in crypto which you have in extra because we can make millions here but we can loose as well . So keep that things in mind
Answered Jul 10th, 2017
It’s usually easy to purchase Bitcoins first and then use those to purchase/exchange any crypto currency you want to invest in. There are many good exchanges available to purchase Bitcoins like Coinbase, Coinmama, Spectrocoin etc. Once you have Bitcoins then you can use CoinSwitch .co to exchange them for over 70+ coins inlcuding Ether, Litecoins, Ripple etc at the best rates.CoinSwitch aggregates all major exchanges like Shapeshift/Changelly/Poloniex and many more to provide a rate comparison. Then you can select the best ones and checkout directly from their platform with no extra fees. Here is their tutorial on how to convert BTC to Litecoin: CoinSwitch: How to Exchange Bitcoin (BTC) to Litecoin(LTC).
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