New cryptocurrencies are hitting the markets every day, and working out which ones to buy and hold is becoming even more challenging. There are so many projects fighting for your attention.
3 of the best cryptocurrencies to hold in 2018
There are many exciting projects to look out for but here are three we believe have the best potential for gains in 2018.
Binance Coin (BNB)
Holding Binance Coin entitles traders to a 50% reduction in exchange fees. They also perform a quarterly coin burn whereby 20% of the profits are used to buy back and burn Binance Coin. So far, the amount has been increasing rapidly and the trend is set to continue. This process is slowly reducing the supply of Binance Coin which should in turn increase the price, especially when demand increases too.
There are so many incentives for users to hold Binance Coin, and as trading volumes continue increasing, so will the demand for BNB.
Binance Coin is without a doubt one of the most undervalued cryptocurrencies on the market today. It’s the utility token for arguably the fastest growing company ever, and the growth is just getting started.
IOTA is an ambitious German start up already working with some of the biggest brands on the planet. The list of IOTA partnerships is staggering and companies such as Fujitsu and Volkswagen are already speaking optimistically about how they plan to use IOTA moving forward.
The tangle is referred to as a ‘next generation distributed ledger’ which instead of requiring expensive mining operations to scale, the businesses benefiting from the technology would actually be serving as nodes on the network.
VW’s Chief Digital Officer (CDO), Johann Jungwirth also joined the IOTA foundation’s supervisory board and they’re working very closely together.
IOTA’s Tangle technology can be applied to many different parts of almost any business. The most exciting is when it comes to data. The internet of things will rely heavily on data and IOTA are already collecting mass amounts ready to sell on when companies need access to it. Prior to the internet, important data was locked away in the companies who collected it’s files. Now, companies can be incentivised to share their data and enable innovations and technological advancements to happen at an even faster rate.
They’re also heavily involved in electric vehicle charging stations and have plans to span the world with them, enabling charging and payment to be done using the IOTA cryptocurrency. The first one was unveiled on 18th April 2018 and as governments around the world already have plans to outlaw the combustion engine in the coming years, electric vehicles and charging stations are going to become the norm.
The cryptocurrency is definitely one with a huge amount of potential and the team are really getting traction and doing exactly what they said they would. Currently ranked #9 on Coinmarketcap.com and valued at $1.75 each it’s value must rise if they successfully scale to the level they plan.
saw a dramatic rise in 2017, especially after rebranding from Antshares, however, they didn’t to stop there. Often dubbed the Chinese Ethereum, NEO continuously draws comparisons with Ethereum. It is now worth noting that tokens have begun being issued on the NEO blockchain and known as NEP5 tokens. This is a huge step as all other Ethereum competitors are some way behind in this development so far. The NEP5 tokens have gained a lot of media coverage as well as they have had a particular focus on Anti Money Laundering (AML) procedures and strict Know Your Customer (KYC) guidelines. This shows a greater attitude towards regulation which was one of the major concerns for ICO projects in previous years.
Another decisive factor for NEO being regarded as one of our top cryptocurrencies is that they have an absolute maximum supply of 100 million NEO tokens which can be distributed. 50million of which were initially sold and the other 50million were locked away for a year, to be sold at a later date. Ethereum has a very similar total supply and has reached far higher prices, although we do understand that Ethereum has been around far longer and has a greater reputation.
NEO does also allow users to stake their NEO and can earn GAS in return, GAS can also be traded which not only acts as incentive for users to hold onto their NEO but also increases the scarcity of the NEO tokens. An argument which cannot be made for Ethereum at this point in time.
They’re building a smart economy together with the many NEP5 token projects in the form of ICO’s. NEO ICO’s are some of the best performing to date and arguably some of the best projects in the space. Switcheo and NEX for example are an example of recent ICO’s to fund decentralized exchanges, the next level of cryptocurrency exchange. Find more exciting upcoming NEP5 projects to look out for.
These definetly make NEO one of the best cryptocurrencies to invest in for long term success!
Wherever you decide to invest your funds, be sure to do your own research and buy from a trusted exchange.