A few years ago, I wrote several stories about a Native American tribe which planned to stop relying on the dollar and use Bitcoin as their currency. Now I’m kicking myself for bleating on about cryptocurrencies at length, but never actually buying any. But there are other ways to make a bit of money in the risky and volatile world of digital dosh and just as many ways of losing it all. Ethereum, Litecoin and Ripple in the hope they can be bought cheaply now and sold for a much higher price at a later date. Which cryptocurrency should you invest in? Oliver Isaacs, an entrepreneur and tech investor, made early investments in all these cryptocurrencies. Litecoin is finally benefiting from the broader interest in cryptocurrencies and I see no reason, despite still being very early stages, why the price cannot eventually match or even surpass Bitcoin’s price over time.
The recent price surge has been the result of heavy trading volumes on one of the most popular exchanges, GDAX, and the uptake of new users on Coinbase. It has an advantage over Bitcoin because transactions happen more quickly, allowing buying and selling at increased speed. As cryptocurrencies are becoming increasingly accepted by mainstream investors, institutional investors and hedge funds, I think investors will be looking to diversify their portfolios away from Bitcoin into altcoins like Litecoin,’ Isaacs added. Earlier this month, it shot up 333 percent in just a few days. It’s not the only alt-coin that’s exploding in value.
8 at the beginning of the year. That’s a rise of nearly 8,300 percent. These two coins are likely to grow in value because they can be bought using Coinbase, which is now the most popular app on the Apple App Store. Another alt-coin has also been growing in value at an astonishing rate.
Ripple shot up by 50 percent this week to become the fourth largest cryptocurrency. If techies are willing to buy hardware to mine a coin, then it’s a vote of confidence in its future. Ensure that businesses accept the coin. There’s no point buying a currency no-one wants to trade in. Analyse the team behind the currency.