Undervalued Cryptocurrencies To Invest In Next Month
Many people think cryptocurrencies are nearing their end, now when the prices have declined, but a smart investor will see a chance to buy.
The basic rule of investing is to buy when the price is dropping, and sell when the price is rising.
If that’s what you want to do, here are some cryptocurrencies you can invest in now with these discount end-year prices when everyone is cashing out to buy some Christmas gifts.
Best 8 Cryptocurrencies to Buy In December 2018
In no particular order:
During the time when bitcoin was $20.000, many people said they wished bitcoin would drop to a more tolerable price such as $5.000 so they can buy more and then HODL until the price rises again. Well that time has come, and bitcoin is totally deflated, it’s at $4.500.
Now it depends what you think about this. This is the barebones price without any hype that adds to the price, without any price pumping, without the mass hysteria and fear of missing out.
Is this the new bitcoin base price, will the price drop further, or will bitcoin rise again? If it’s the latter, than this is a discount price that might end up having a huge ROI if you’re patient enough and can HODL until bitcoin rises again.
Despite the price fluctuations, and the lack of hype, it’s obvious bitcoin market penetration is increasing. More and more merchants are accepting bitcoin and perhaps we’re not so far from the day when bitcoin is mainstream. Transactions are insanely fast and almost free, and therefore the biggest problem of bitcoin has been solved. How could it possibly disappear from the world? The father of all cryptocurrencies is the most resilient of them all.
We all know Ripple isn’t a true cryptocurrency as it’s centralized and basically owned by the banks. But that’s its main advantage – it is the only cryptocurrency with a clear purpose in a money-driven world.
More and more banks are planning to use Ripple for their internal works, and the price of a single coin isn’t very important for this, but the market responded to one of the most widely adopted altcoins in the world right now. XRP is currently valued at under $0.50, which is far less than its maximum price of $3.50 when the price was pumped.
Even when it deflated around March 2018, it still remained higher than the current price, and was mostly around $1.00 before a slow and gradual descent to its current price. If there’s a coin that could see a return to its former glory when it comes to price, then it’s Ripple.
EOS may be going through a price dip just like almost every other coin, but just like Stellar, it’s a good project that deservedly made it to the top ten according to market cap.
EOS.IO is a blockchain protocol powered by EOS, and it operates as a smart contract platform and decentralized operating system intended for the deployment of industrial-scale decentralized applications.
There are no transaction fees and millions of transactions per second are possible, so this is a truly high-tech project that deserves to exist. The highest price of EOS coins ever achieved was $20, and currently the price is under $4. There’s a good chance EOS will rise again sooner or later.
If bitcoin is underpriced at the moment with its drop from $20k to $5k or 25% of its former value, then what can we say about Ethereum, that dropped from $1.400 to $130, or less than 10% of its former price?
It’s a discounted price we could have only dreamed of earlier in the year. If you believe in the smart contracts functionality of Ethereum, and if you believe that the coin itself has value and that it will rise again, then it would make sense to invest in it now.
The coin couldn’t possibly drop much further before another rise begins. Maybe the hype around ICOs is over, but maybe it gives birth to some real ICOs which aren’t scams.
If bitcoin is the main coin that’s used either as a currency or as a storage of wealth, then Ethereum is the main smart contract coin that allows many cool things such as ICOs. That’s not going anywhere, and all it takes is some ICO regulation to protect the investors and Ethereum will fly again.
Stellar seems to have a mind of its own and isn’t really following the trends of other coins. It has its ups and downs, and a clever trader may take advantage of these dances between $0.20 and $0.25 per coin, which basically means you can get 25% ROI if the price rises to $0.25 again.
Overall, the maximum price ever achieved was $0.80, and a recent maximum was around $0.40.
Stellar is a good project that deservedly made it to top five according to market capitalization, and not so long ago it was not very high on the market cap top list.
Stellar is another coin that wants to allow quick global transactions that cost a fraction of a cent, and its aim is to facilitate low-cost payments between different currencies. Transactions resolve within 2 to 5 seconds. This is an amazing coin that integrates with banks and payment systems, and hopefully it will succeed in its mission.
Cardano is the decentralized distributed computing platform that implements blockchain technology for the ADA coin.
It’s entirely open source, and is one of the better projects in the crypto world. When it comes to price, the coin has been dropping for a while now, just like most others, and the current price is under $0.05 per coin while the maximum was $1.20 at one point, and for most of the second part of this year the price seemed to have settled at $0.08.
This is primarily a coin for those who believe in this project, but there’s money to be made even if you’re just a trader.
Tron used to be $0.22 and now it’s available for only $0.014 or less than 10% of its former value.
Despite the price fall, this coin is rising in importance and is a stronger project as time passes and more investors join in. This coin is promoting the entertainment industry and wants to be the coin that lets users upload and download various types of media without having to use any middleman.
Meaning, this coin does have an actual purpose and an actual niche it’s being used in. If you believe in it, the return on investment could be huge.
Bitcoin Cash (BCH)
Bitcoin Cash was always supposed to be worth 10% of one BTC, and this is a project that doesn’t have any other purpose than being pumped and dumped by Roger Ver and his associates.
The project initially promised it’s a faster and cheaper alternative to bitcoin, and it did gain some market traction, but it looks unnecessary now when bitcoin is cheap and fast.
Bitcoin Cash is now at only 0.05 BTC, so half of what it should be, and it’s possible it’s nearing the end of its life. Buy only if you think there will be another pump by Ver.
As most people already know, the main power of Zcash lies in its anonymity. While every transaction done on the bitcoin blockchain is basically public, Zcash offers true anonymity as there’s no way to trace the origin or destination of transactions.
At one point, one Zcash was worth almost $900, while it’s worth only 10% of that price today. This is a coin many graphics card miners are mining, and it has a perfectly good use as the most well-known coin that’s truly anonymous and untraceable, and it’s therefore very resilient, it’s definitely here to stay. The only question is will the price rise again.
Sooner or later, it probably will, and Zcash has the power to beat other coins and to remain among the top ten most popular coins for years to come.
As a bonus, here is a list of some cryptocurrencies you probably shouldn’t invest in.
Litecoin is a bitcoin fork that is a bit more efficient, and just like in case of BCH, it’s a coin that only exists to solve the slow and expensive transaction problem of bitcoin.
Since bitcoin transactions are no longer slow and expensive, Litecoin doesn’t have a purpose. There was some talk about Litecoin being directly used with some large card company, but that deal fell through and Litecoin is back where it was. Unlike so many other projects, Litecoin is a really simple project that doesn’t deserve to be in the top ten cryptocurrencies.
Something like Dogecoin which was created as a joke. Litecoin isn’t too far off.
How to buy these coins?
For those who don’t yet know how to buy altcoins, the best way to do that is by signing up with some bitcoin exchange, such as Coinbase, and buying some bitcoin using your bank card or some other payment method.
Bitcoin is still used as the main exchange currency with which you buy all other cryptocurrencies, so called altcoins, and that’s yet another reason why bitcoin is going nowhere and another reason why coins that want to take bitcoin’s role (Bitcoin Cash, LiteCoin and others) aren’t able to do so – you still mostly buy them using bitcoin first.
Tim is a retired professor in economics, this background has enabled him to provide a insight into the cryptomarket. His indepth analysis as well as news on legislations around the world will help you to understand what the state of play is.