The cryptocurrencies have taken the world by storm and it is their organic nature which makes people lure towards them despite their volatility. The organic nature refers to the decentralization from a central platform that allows fast and private trading of all the assets, currencies, and tokens.
It is astounding that 1757 cryptocurrencies are listed at Coinranking – cryptocurrency prices and 39 of them have a market cap of $1 billion. The growing investment by the people in new ventures is diversifying the crypto world and allowing the exploration of various benefits presented by the blockchain technology.
Why Invest in Cryptocurrencies?
For all the investors, there are three good reasons for investing in different cryptocurrencies:
- · Having a good net worth against the fall of the Dollar imperium
- · Supporting the social vision of decentralization and privacy behind the cryptocurrencies
- · Simply for the love of technology
However, this doesn’t mean that one should indulge in such investments simply because of the fear of missing out and make massive purchases at the peak prices. We have discussed some of the massive value changes in the most admired cryptocurrencies below.
Bitcoin Not So Popular Anymore
Last year, the pundits were voicing their opinions in the favor of Bitcoin which saw an all-time high of $19,783 in December according to Fortune.com, before dropping to below $10,000 in March 2018.
Due to being susceptible such huge value changes, Bitcoin is not an ideal investment this year and people are looking forward to other cryptocurrencies which have lower value and more useful as compared to Bitcoin.
Cryptocurrencies which are Ruling the Charts
Obviously, the early investors of cryptocurrency have profited a lot from their rising popularity. However, apart from the monetary benefits, it is the purposes served by their underlying blockchain technology which has amplified their popularity.
People showed extreme enthusiasm for Bitcoin because of its high value but didn’t realize that it was actually Ethereum which showcased the fastest rally ever demonstrated by a cryptocurrency. It went high by 2700 percent but currently, its price lies somewhere around $800.
Another market favorite is Ripple, which currently stands at $0.9029. As compared to Bitcoin, Ripple promises increased stability and expedited transactions. There is no reliance on a single company to complete the transactions, thus, the block confirmations time do not require excess waiting time.
Apollo – All-in-One Currency
One such new cryptocurrency on the block is Apollo, backed by the Apollo Foundation which has appointed the world-class managers, developers, marketers, and researchers to make it the most feature-rich and technologically advanced cryptocurrency in the world.
Incorporating all the benefits of a digital currency into a single platform, the foremost goal of the Apollo Foundation is to create a cryptocurrency which will prove to be an innovation in the world of digital currencies.
The Bottom Line
Cryptocurrency is the future of transactions and trading as the blockchain technology has already introduced a revolution in the financial world. With more investments being made in this domain and the surfacing of beneficial digital currencies like Apollo, the challenges faced by the initial cryptocurrencies are also being overcome.