We are all well aware of the problem of plenty. That is when making a decision gets harder.
And needless to say, the crypto space is currently in the same state, where one has too many choices to pick from, which means the difference between a right and a wrong decision is very marginal.
But, do you want to know a secret? A secret to choosing the right crypto for yourself? Well, you are in the right place.
At CoinSutra, we do a thorough research and many times take the real experience of using the crypto that we write about. So far we have covered over 25 altcoins on our blog and we are not stopping anytime soon. These altcoins are from different categories such as:
- Anonymous & Privacy coins
- DEX-Decentralized exchanges
- Blockchain as a service platform (Baas)
- Supply chain coins
- Decentralized storage networks
- Gaming Crypto etc…
And to reduce the burden on you, let us pick one crypto from each category that we think is a leader.
Here are our picks for each category:
1. Bitcoin [Payments]
Bitcoin, the pioneer cryptocurrency, was created to serve as a payment medium that cannot be censored by anyone. Satoshi Nakamoto did this to create an alternative for the people around the world that wanted to opt out of the traditional banking system.
And thus far, Bitcoin has handled all sorts of the onslaught and is standing tall and scaling each day with innovative implementations.
Bitcoin, on an average, is doing 200,000 tx per day and can be spent in many places for commerce. This trend is expected to grow as its payments capabilities strengthen with Segwit and Lightning Networks in the year 2018.
Lastly, at the risk of sounding ignorant, I still believe Bitcoin will scale well to satisfy the global needs to become a true censorship-resistant digital cash.
2. Monero [Anonymous Coins]
Monero needs no introduction in the cryptosphere and it is the surest and the most anonymous coin you can find in the market.
Let me tell you an instance of its privacy. When Alphabay went down, the investigating authorities weren’t even able to find out the amount of Monero Alphabay had.
Monero is so private that law enforcement can't figure out how much the AlphaBay owner had; not so with the other cryptocurrencies. pic.twitter.com/nLat3k0ZVQ
— Riccardo Spagni (@fluffypony) July 20, 2017
Monero does it by using complex on-chain cryptographic methods such as Ring signatures, RingCT, Kovri, and Stealth addresses to protect the privacy of its users. You can read about Monero’s technology in our detailed guide: Monero Cryptocurrency: Everything You Need To Know.
It is a community-driven coin that is constantly innovating for its betterment which is why I think some Monero in your portfolio will be a good long-term bet. (Read about other 8 anonymous coins here)
3. Kyber Network [DEX-Decentralized Exchange]
That is where we found about Kyber Network. It is a decentralized exchange that promises high liquidity through the reserve system, security through cryptography, and instant exchange via smart contracts for ERC20 tokens. But it gets better because of the presence of cross chain asset exchange powered by atomic-swaps on their roadmap, which makes it a strong contender in the DEX market.
Read more about KyberNetwork here:
4. Ethereum [Baas]
Ethereum’s blockchain, as a service for enterprises of all sizes, can be used on Microsoft Azure and is constantly getting better with the research and development of Ethereum core team as well as the EEA-Enterprise Ethereum Alliance.
Of course, I am not ignorant of its scaling issues but with a firm focus on Casper update that will bring POS consensus into Ethereum as well as the future tech of Radian and Ethereum Shards, it is looking more promising than ever.
5. Filecoin [DSN-Decentralized Storage Network]
Filecoin is a decentralized storage network powered by IPFS technology at the backend, which is its backbone too. By joining the Filecoin network, one can rent down its extra disk space and earn Filecoin tokens in returns and also pay in Filecoin to peers for using their disk space.
Note: Filecoin is still a futurist project which has not been launched yet but I am bullish on it due to its superior technology. You can now apply on their website to become an early miner when its actual blockchain launches and can buy its futures on various exchanges.
But having said that, it naturally puts it behind the rest of the projects that you can use now to securely hold your data. (Read: Other Filecoin competitors in the decentralized storage space)
6. VeChain [Supply Chain]
VeChain is a blockchain specifically dedicated to product management of various products with their supply chain cycle. The VeChain blockchain focuses on the following industries:
- Cold-Chain Logistics
- Medical & Healthcare
- Luxury & Fashion
It leverages the blockchain technology combined with various other existing technologies to provide the best of both worlds. The various techs are IoT devices, sensors for various purposes and tagging products with unique IDs via NFC chip, RFID tag or QR code.
This helps in auditing, provenance, contract management, traceability of products on a single blockchain i.e. VeChain which is powered by its native token VEN. Also, it has some very strong partnerships that no supply chain project in the blockchain space currently has, which will naturally drive its adoption.
7. GameCredits [Gaming]
GameCredits (GAME) is an open-source peer-to-peer digital cryptocurrency designed for in-game payments, as well as for payouts to developers and gamers. It was incepted in 2015 under the name GamersCoin (GMC). It was later rebranded to GameCredits (GAME).
GameCredits (GAME) is a digital currency based on the blockchain. Its purpose is to become the universal currency for 2.6 billion gamers worldwide, to empower game developers both big and small in order to further grow the 100 billion dollar gaming industry and to accelerate the wide adoption of decentralized cryptocurrencies as a better alternative to government-issued fiats. (Source: GameCredits)
It also provides a platform for developers to launch their apps and games on its launcher platform where the developers can earn higher in comparison to launching their apps on App store or Google Play.
Its price does not reflect its real worth, but being the oldest player in the Gaming crypto market and the needed infrastructure in hand, it can be a promising project to look into. (Also read: A beginner’s guide to GameCredits)
Conclusion: Which Is The Best Cryptocurrency?
|Kyber Network||[DEX-Decentralized Exchange]|
|Filecoin||[DSN-Decentralized Storage Network}|
Well, we cannot tell you that because we are not financial advisors. However, with the information provided above, we hope we can help you in doing your own research before you make an investment decision.
I will be back soon with an update of this article with new cryptocurrencies of new categories. Until then, watch this space on CoinSutra and keep enjoying the crypto revolution with us.
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An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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