With the eye-popping price increases of Bitcoin over the last few months, and truthfully the whole year, it can be tempting to want to buy Bitcoin right now.
That might be a mistake. Buying at all-time highs can be a risky proposition. Instead, it would make more sense to build a position in other, more undervalued coins while waiting for a dip or crash on Bitcoin to carve out a substantial stake in the cryptocurrency.
That said, here a few of the best cryptocurrencies to buy right now.
Litecoin is one of the oldest cryptocurrencies out there and was founded in 2011. It is a mature coin if that’s even a thing. Litecoin was inspired by Bitcoin but has few advantages over the original, namely the speed of its transaction processing.
Founded by a former Googler, Litecoin has grown to become the fourth-biggest coin by market cap. At $13 billion, it’s nearly twenty times smaller than Bitcoin, but it benefits from not having as much hype around it as other coins. In fact, it’s managed to sort of fly under the radar, and that’s why it could be a good buy right now.
Ripple is a company aimed at bringing blockchain solutions to enterprise clients. The blockchain is a unique type of ledger that helps people transact with one another without needing to trust one another. By working with high-profile clients like banks and other financial institutions, Ripple is well-placed to become incredibly valuable as the blockchain of choice for big business.
Ripple is the 6th biggest cryptocurrency by market cap and has around 38 trillion coins in circulation. They already have relationships with the likes of UBC and Bank Santander so look out for Ripple in 2018.
Golem recently cracked the top 50 cryptocurrencies by market cap and is poised to take off.
It’s another coin that seems capable of delivering real value. The idea behind Golem is to create a network of computing resources that can then be loaned out to anyone who needs it. Someone in South Korea needs extra computing power to run Final Cut Pro? No problem, you can help them out through the Golem network and earn cryptocurrency while doing it.
Ethereum is likely going to be the Ruby on Rails of the crypto world. Just like how developers can use Ruby On Rails to help build applications and websites, Ethereum allows companies to make decentralized organizations and apps. Developers and entrepreneurs can build their decentralized operations right on top of the Ethereum blockchain rather than having to create one from scratch. In fact, if you were so inclined, you can create your own crypto-coin using Ethereum right now.
Source: Ethereum Project
It’s this sort of universality and scalability that has propelled Ethereum into second place behind Bitcoin in the cryptocurrency race.
Yes, “King Coin” itself is the last cryptocurrency on this list. That’s because it is still the top dog. With a market cap five times its nearest competitor, (Ethereum) Bitcoin is the market leader and has immense brand name pull. It is undoubtedly what everyone hears about first when they are exposed to cryptocurrency. For that reason alone, Bitcoin finds itself on the list. Just do yourself a favor and wait until you can buy some at a serious discount.