If you want to invest in cryptocurrencies, which ones are the sleeper hits that can potentially make you a lot of money? Note: You do need to spend some time to find out which ones seem legit and which ones are not original or even a scam.
The price of cryptocurrency is extremely volatile. If you really want to invest and make money quick, you need to know what to invest in. If you are not active with trading, just buy some Litecoin, Bitcoin or Ethereum and wait… But if you want to be on the edge of your seat, have a look at the smaller currencies out there. Many of them are build on existing technology, but are build for different reasons. Some are made for cloud computing, others for anonymous transactions or perhaps as prediction software.
Monero is a secure, private, and untraceable cryptocurrency. The fact that it’s untraceable, makes Monero a popular choice. Bytecoin is also very private, but 82% of that market is pre-mined before it launched. Many cryptocurrency enthusiasts call it a scam. Monero on the other hand, is better. Monero got a major publicity spike when a major torrent website had users automatically mining when they visited the website. This service is provided by Coinhive, in case you’d like to implement it on your own website as well. In the left bar of this website, I have added a Monero miner as well, please turn it on to support my page.
Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool – and the chance for real money trading profits. If you think the Yankees will win the World Series, or Leonardo DiCaprio will win another Oscar, then you’ll buy shares in those outcomes. If you buy shares in the correct outcomes, you’ll win real money profits. If you end up being right, you’ll get back one dollar for every share you bought. If you’re wrong then you’ve lost the money used to buy your shares. As more people buy shares in an outcome, the price of that outcome will rise while the price of other outcomes will fall. This gives you further opportunities for profit – by buying low and selling high, before the final result of the market is known. Yes, basically it’s a form of gambling.
Siacoin is a very interesting one, because it combines cloud storage with the blockchain. This means that your files will be upload into the cloud, but this time around the cloud is not a server owned by Google or Microsoft. The cloud is made out of the blockchain, which means all your files will remain encrypted. Your files will only be your files. Sia splits apart, encrypts, and distributes your files across a decentralized network. Since you hold the keys, you own your data. Sia’s decentralized cloud is on average 10x less expensive than current cloud storage providers. Storing 1TB on Sia costs about $2 per month, compared with $23 on Amazon S3.
Bancor is a bit more advanced and requires some active trading on the Ethereum network. Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet. In short: this system is very suitable to trade tokens on the Ethereum network. So you get to switch between EOS and Tether very easily, for example.
Komodo is a blockchain technology that makes it easy to build your own blockchains on. Developers who build on the Komodo platform begin with an independent blockchain of their own, which is then connected to the Komodo ecosystem. Komodo Platform is an entire ecosystem, including a banking partner called Monaize.
Status is a mobile operating system build on the Ethereum tech. Browse, chat and make payments securely on the decentralized web. Safely store your ETH and other Ethereum crypto-assets, and you can find other Status users to exchange goods and services easily. With Status your mobile device becomes a light client node on the Ethereum Network, enabling you to access Ethereum’s entire ecosystem from anywhere. Status is also a messenger, you can send payments to friends, and everything is protected by the decentralized P2P protocol. It’s a bit technical, but interesting nonetheless!
Golem is a global, open sourced, decentralized supercomputer that anyone can access. It’s made up of the combined power of user’s machines, from personal laptops to entire data-centers. Anyone will be able to use Golem to compute (almost) any program you can think of, from rendering to research to running websites, in a completely decentralized & inexpensive way. Anyone can make money ‘renting’ out their computing power or developing & selling software. For example, rendering 3D movie graphics can be done by the network instead of just by one computer. Or complex calculations for constructions, can also be done by the blockchain network.