Dear Steemit Friend,
On my previous post I wrote The 7 Golden Rules of Cryprocurrency Trading (https://steemit.com/cryptocurrency/@redstrawberry/the-7-golden-rules-of-cryptocurrency-trading), Point no. 4 is cryptocurrency demand is based on services and feature offered. I would like to share my analysis before I made decision to trade cryptocurrency.
Most of trader I know buy cryptocurrency on exchange without know the feature, they do not read whitepaper, they even do not try the wallet. Some of them is still profitable but to maximize profit you have to know what you are doing. Warren Buffet said “Risk comes from not knowing what you're doing”
Platform or wallet developed by cryptocurrency creator can tell many things. It can be decision support factor whether you will trade cryptocurrency or not. Feature written on cryptocurrency website is always perfect and great but when you try their platform you will know that many feature does not work or even very difficult to install it.
One of my favourite feature is “Cryptocurrency Platform for Issuing Cryptocurrency”. When cryptocurrency platform able to issue other cryptocurrency many developer will have interest to use it as parent platform, they do not need to create wallet, they do not need to build infrastructure, they can create cryptocurrency or token soon and launch it. When you buy cryptocurrency which able to issue cryptocurrency you will have bigger chance that it will be more popular than standalone platform. The reason is many developer will explore its functionality and attract more people to use it.
There are few cryptocurrency platform for issuing cryptocurrency. I am going to explore Ethereum, Neo, NXT/IGNIS and Waves.
Ethereum is first cryptocurrency for issuing cryptocurrency and the most popular compare to Neo, Wave and NXT. There are 79637 token has been created under ERC 20 Ethereum. You can visit here https://etherscan.io/tokens?sort=percent_change_24h&order=desc. When token developer issue new token they have to buy ethereum. That is why ethereum demand will never end. EOS, Golem, Vechain is example of fantastic growth. Many tokens depend on Ethereum. Ethereum’s market capital is $69 billion, but when when we add market capital ethereum token, the market capital is more than $100 billion. Due to huge market capital, ethereum price movement cannot rise compare to new cryptocurrency launched but if you want to invest in long term, ethereum is a good choice.
There are 44 cryptocurrency/token issued under Neo platform. You can visit here https://neotracker.io/browse/asset/1. Ontology (ONT) is one of the most popular cyrptocurrency issued under Neo platform.
Neo has feature to buy token inside its platform, make developer sell their token easily. Neo has $ 5 billion market capital. Neo could grow higher since they have huge natural market in China.
NXT and IGNIS is developed by same company. I’ve got many error during installation NXT platform.
It has lightweight platorm but it is very difficult to login to their platform even I connected through broadband internet connection. Due to that reason I do not make any NXT trading. NXT has exchange platform for NXT token and NXT but liquidity is very low.
Waves has many feature compare to other cryptocurrency above.
Waves’s features :
Currently Market Capital of Waves is 735 Million, with its functionality mentioned above it could grow more.
I hope what I have shared can help you to make analysis before decide the best cryptocurrency for you.
