AUG 28, 2017
By Darryn Pollock
Insider Crypto Tips: Who to Back for Big Bucks
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Insider Crypto Tips: Who to Back for Big Bucks FOOD FOR THOUGHT
While there are a few ways in which to work cryptocurrencies, from day-trading to holding, it is still widely recognised that a long-term investment is best. However, making the right call on one of the many coins out there is difficult.
Below, some well known cryptocurrency investors share their tips and secrets, and give a top three pick of the coins they are holding onto for a big payday down the line.
Logan Kugler, Managing Partner at General Crypto
1 - Ripple (XRP)
“Ripple is going after SWIFT, and their token XRP could entirely change the way we send money internationally. Why? Currently money takes days to move internationally, and the fees are enormous. There’s literally no way today to send money from one country to another same-day.”
“Ripple stands to revolutionize the entire banking industry. That’s not going to happen overnight. It will have its rallies and its steep corrections, but I expect it to consistently go up. Don’t buy this one expecting big things to happen as fast as other coins.“
2 - Factom (FCT)
“ Factom offers the promise of immutable records. This could be huge for the (trillion-dollar) mortgage industry, banks and audit records, retail with huge databases like Target, studios with enormous catalogs of movies like Warner Bros., and governments for historical documents.”
“Factom could change how major record keepers keep records and ensure eternal existence of all records.”
3 - Monero (XMR)
“One of the original promises of Bitcoin was anonymity. It turns out it’s not quite as anonymous as a lot of people initially think. Enter anonymous coins, of which XMR is leading the field in privacy.”
“I can see XMR becoming very popular among those seeking anonymous transactions. What’s still up in the air is whether or not it can scale.”
Spencer Bogart, Managing Director and Head of Research at Blockchain Capital
1 - Bitcoin (BTC)
“Bitcoin has proven its ability to efficiently serve a few use cases that represent giant market opportunities. Amazon first proved it could efficiently sell things online and it focused on this ability before growing into other opportunities. I think the same will be true of Bitcoin.”
2 - Monero (XMR)
“If I were forced to pick one thing that I was most concerned about for Bitcoin, it would be a lack of privacy. Each Bitcoin should be worth as much as any other Bitcoin, regardless of who owned it before you or what they did with it. For now, this isn’t a big problem. But Monero is a good hedge against this risk, since it’s more private than Bitcoin and therefore doesn’t have the same degree of fungibility risk.”
3 - Litecoin (LTC)
“Silver to Bitcoin’s gold. The code is so similar to Bitcoin that Litecoin is able to leverage Bitcoin’s developer network and improvements. This is a big advantage over other coins that try to build a developer community from the ground up. If anything catastrophic happened to Bitcoin, a decent portion of the capital would likely flow to Litecoin.”
Rafe Furst, Chief Investment Officer at The Crypto Company
1 - Dash (DASH)
“Bitcoin’s reign as the gateway cryptocurrency is coming to an end. The question is, what will replace it? Arguments can be made for Litecoin, Zcash, Ripple, or Monero. I like Dash because of its focus on consumer-friendliness and its flexible, decentralized governance protocol. For example, it took just 24 hours for the Dash community to approve a proposed blocksize increase back in 2016, while the Bitcoin community took three years to address its scalability problems, and the debate ended in a hard fork.”
2 - Ethereum (ETH)
“While Ethereum won’t replace the function of Bitcoin, it will continue to play the important role it currently does as a smart-contract engine, and as a master Blockchain to spawn new application tokens.”
3 - Steem (STEEM)
“Imagine if your social media posts could earn you money based on how popular they were. Imagine if you could get paid as tastemaker and curator of content published by others. Now what if the content creators kept 100 percent of the ownership rights to their content, and there were no advertisers or special interests getting between creators and fans? Steem is the first utility token that is truly being used for this function. Platforms like Reddit, Medium, and even Facebook should be nervous.”