With the evolving of Blockchain Technology as one of the most viable technologies the option of investing in countless cryptocurrency wallets but it is important that you invest in the Best Cryptocurrency for 2019. According to cryptocurrency pundits, 2019 is going to be filled with ups and downs just like 2018, however, to make the moolah from the cryptocurrencies you need to invest judiciously in the best cryptocurrency mobile wallet 2019. According to analysts the tables have turned in favor of altcoins for the strong technical backup it has compared to the recent volatile situation that Bitcoin was in. This article will give you a brief overview of what cryptocurrency is following with the top 10 cryptocurrencies to invest in 2019, the best cryptocurrency mobile wallet in 2019, next to the pros and cons of cryptocurrency & lastly, the characteristics of cryptocurrency.
What is Cryptocurrency?
A virtual currency that is designed to work as a medium of exchange is cryptocurrency. So how does cryptocurrency work? Cryptography is used to secure and verify the transactions and also for controlling the new units that are created of a particular cryptocurrency. Cryptography allows in limiting the entries of the cryptocurrencies in the database and the rules pertaining to the entry and creation of it cannot be changed unless specific conditions are fulfilled. So what can you do with cryptocurrency? Well, you can do the following:
- Buy good: But for that, the merchant needs to accept cryptocurrency and have a cryptocurrency wallet.
- Invest: In 2018 Bitcoin investment was the hottest thing in the market and there have been stories of people becoming millionaires after investing in Bitcoin.
- Mining: In the cryptocurrency network miners are the most important part. Miners are the largest contributors in the community by providing their computing power in solving complicated cryptographic problems. This necessitates the confirmation of the transaction and recording it in a public ledger called the Blockchain.
- Accept payment: There is a steady growth in people using cryptocurrency to do their payments so if you are a business owner to woe new customers’ cryptocurrency is the way to go. Also, cryptocurrencies are having the highest interest.
Read More: Do you know the power of blockchain? The blockchain is the new tech giants of the future
The above-mentioned points are the basic purpose of having currency and with pundits suggesting that cryptocurrencies will continue to be the big thing in the market. They are also of the opinion that it is a good place for investment. Have a look at the best cryptocurrency for 2019 for investing:
EOS offers the most advanced platform technologically and removes the primary barrier for the developers with the solidarity in language. It also has flexibility compared to other platforms. It does not require gas fees as only 21 gatekeepers process the transactions. Few who are elected by the community produce the coins hence the coin is not mined. Additionally, the users of EOS have access to databases and instruments with several other additional services that require no programming language knowledge. Due to its easy accessibility EOS is likely to become the advanced blockchain that will be popular. Hence do invest in it for $1.68.
After Bitcoin, Ripple has made its way into the market and has become the second largest cryptocurrency and is quite likely to be the Best Cryptocurrency for 2019. However, Ripple caters more for larger financial institutes rather than individual users. As a result, it makes Ripple a cryptocurrency that facilitates cross-border payments, they are strikingly fast and cheap. One can use it for a transaction that costs a fraction of a cent. Even Google supports the Ripple Lab and other corporate investors support them too. Ripple is also being introduced to Asian banks and the world’s other financial institution. Though Ripple is unlikely to make the $100 mark it is likely to reach $1. So you can think of investing in it at a low price, i.e. $0.29.
3. Stellar Lumens:
Stellar facilitates individual users in conducting cross-border payments. Cross-border payments are already in existence with PayPal but Stellar is better because while the former charges 5% transaction fee, the later charges $0.001 only for 600,000 transactions. Additionally, Stellar provides a processing platform that conducts a transaction within 5 seconds and also the platform consumes less energy than other blockchains are plagued with like Bitcoin. Stellar has already partnered with top companies like IBM hence has does not have any issues with finding the support of corporate investors. Instead of Proof of Work, Stellar uses Stellar Consensus Protocol for processing its operations.
BitTorrent has been recently acquired by TRON that permits the developing of a torrenting method that is safe and decentralized. This innovation would enable distributing of files across a network as well as for downloading assembling them. Additionally, one of the few ECR20 tokens that have made it to the MainNet is TRON. TRON has 300,000 accounts currently; though not as rapid in growth as Ethereum it is still a good investment and part of the Best Cryptocurrency For 2019 with $0.013 for 1TRX. So if you want to invest in something that is cheap but with a good return TRON is the one for you.
Litecoin is touted to be the alternative for Bitcoin in the cryptocurrency market that has reached $1.45 billion capitalizations. It is also in the 9th in the coin list. Compared to Bitcoin the average block mining time of Litecoin is 2.5 minutes whereas it is 10 minutes is for Bitcoin. Litecoin is also one of the four main Coinbase. Furthermore for activation Litecon requires 75% support compared to Bitcoin’s 95% support of the miners. The lowering consensus makes Litecoin a more attractive prospect for investors. According to cryptocurrency analysts, Litecoin has potential and is considered good for investment despite costing on a higher side, i.e. $26.15.
Over the other coins IOTA has four significant advantages:
- It can be scaled
- Fully decentralized
- No fees are charged to the users
- It is modular
Developed and designed for Internet of Things and the technology used is Tangle rather than blockchain. Tangle is a Direct Acyclic Graph (DAG). This enables the coins to be scalable and resolves an issue relating to transaction fees. Furthermore, it allows the sender to proof the work and approves the transaction. Hence there can be a higher number of user transactions with faster speed. It also offers quite a number of other applications. With the market expected to reach more Internet-driven gadgets, which is likely to be 30billion by 2020 IOTA is projected to have immense growth and can be the cryptocurrency of 2019.
BAT is the acronym of Basic Attention Token designed for publishers, content creators and their respective advertisers and audience. Tech specialists from all around the world created it. With BAT the content creators can receive BAT currency from users who donate it or users can be rewarded for watching advertisements. BAT should only be used on Brave browsers so that the users’ privacy is safe while reeling any malware. The brave browser allows users to enjoy any content that they do in any other browser without having to go through any advertisements and ISPs do not sell the users’ personal information. BAT is worth $0.14 but is expected to be the next big cryptocurrency of 2019.
The idea behind developing the Zcash is to give the users the privacy of their transaction. Even though most might not use the darkent for making purchases the Zcash offers similar features. Zcash is likely to grow with the evolving of the darknet. As one of the improving blockchain mobile apps, few features have been introduced into Zcash that reduces the memory consumption by 98% while retaining the transaction privacy. It also has the provision of revealing a user’s transaction data selectively. According to experts Zcash has great potential and is likely to have stored value in the future. Currently, you have to pay $59.5 for investing in Zcash.
The other Best Cryptocurrency For 2019 is Monero the alternative to Zcash. This also uses the darknet market. As a developed blockchain mobile app Monero uses a thought-through transaction scheme that engages ring signatures and stealth addresses so that the transactions can be kept private. Due to Monero’s principles on decentralization and privacy, it has immense support from the community as well as traders and investors. It also has superior mining algorithm, adaptive block size limit in which Monero blocks are produced every two minutes. Last but not least, users are protected from passive networking monitoring with I2P. Monero requires you to pay $46.6 for investment and the value is in all likelihood will grow.
The design behind this blockchain technology is to replace Bitcoin and Ethereum. For that purpose, they have developed the infrastructure well that has fiber so a scalable peer-chain platform can be created. It works on Skywire the decentralized Internet where the users are rewarded. It also intends to replace MPLS, IPv4/IPv6, OpenFlow, Tor, and I2P. It uses Skyminer hardware that is behind the decentralized Internet. Also, Skycoin uses CXO, the P2P cloud storage service that distributes Skywire. It can be an alternative to the traditional Internet and is recommended for investing in as one of the Best CryptocurrenciesFor 2019 with Skycoin costing $0.92.
So whether you are selecting a cryptocurrency that is expensive or on a shoestring budget, it is highly recommended that you study the position and the factors that influence the cryptocurrency market before investing in them. Also below is the list of best cryptocurrency mobile wallet 2019
Best cryptocurrency Mobile Wallet 2019
Cryptocurrency wallet is the digital wallet where you can safely store your cryptocurrency. While most of the coins have their own wallet there are some third-party wallets too. Here is the list of such Mobile Wallets:
- Free Wallet
- Infinito wallet
Apart from the mobile wallet for cryptocurrency, there are Hard wallet, Desktop wallet, and Online wallets. Each of them has several wallets under each of these categories.
☛ Pros and Cons of Cryptocurrency
Cryptocurrency has been the new thing that has taken the market by surprise and it is on the rise. So an investor you should be aware of the pros and cons of cryptocurrency
- It is transparent unlike any other currency
- The transfer is instant and can be accessed from anywhere and anytime (24/7)
- There is absolute anonymity
- Inflation is unlikely
- Can be carried anywhere any amount as you are not carrying them physically
- You have full control of your money
- Understanding how it works it can be difficult
- There is no security against loss
- It is immensely affected by the market and hence it fluctuates
- Money cannot be revered after the transaction is completed.
- Transaction cannot be traced
☛ Characteristics of Cryptocurrency
One of the unique features of cryptocurrency is it is decentralised and it is secured by math and logic rather than people. Here are some other characteristics of cryptocurrency.
- Irreversible: When a transaction is done and confirmed it cannot be revered.
- Intangible: No one is associated with any account rather the currency is transferred between addresses that have been created from blockchain.
- Anywhere anytime: The transaction can be done between any place and anytime. The transaction is instant and the debit and credit of currency is reflected within minutes.
- Secure: As mentioned earlier cryptocurrency uses cryptography and the funds are locked with a public key, while funds can be sent by private key owners. This makes the currency very secure and impossible to break the schema.
- No permission requires: A user does not have to seek any permission from anyone for using cryptocurrency rather just down software and start using it.
- No debts: You see the currency numbers as entries hence there is no representation of debts in the currency.
- Supply management: It is estimated that by 2140 the Bitcoins will be exhausted. Like Bitcoins the supply token of any cryptocurrency is limited. The supply token is controlled by a written algorithm.
Cryptocurrency offers a wide range of opportunities in investment and has the potential to provide you with a huge return. However, before investing in crypto currency understand the basics that make cryptocurrency work since they can be quite volatile. Also, remember with you have to be patient when investing in cryptocurrencies. So if you do intend to invest in them consider all these and invest in the Best Cryptocurrency for 2019.