The crypto currency rage in 2017 has had a massive impact on the millennial investors. People today are more open to investing in crypto currencies and why wouldn’t they be, when some of the currencies have delivered massive returns to the tune of 2500% in just over six months. This party will definitely spill over to 2018 and here we take a look at five crypto currencies with the highest potential to make you super rich.
Ripple is one of the fastest growing crypto currencies in the crypto land. It is a payment network for banks and financial institutions that allows them to send and receive currency and settle transactions more quickly and more cheaply than their existing back-end systems. It has already skyrocketed from just 0.05 cents back in January 2017 to over $1.25 in December 2017. The potential for Ripple’s crypto currency XRP is huge since many banks are currently testing it to transfer remittances instantly. Once big banks begin to use XRP in daily transactions, the currency is expected to surge to at least $10 in 2018. This, however, is just speculation but it’s not too far fetched considering Ripple has American Express as its existing customer. For beginners, consider Ripple as the Amazon of fintech world in 1997. For those who know what Amazon is valued at currently, Ripple promises to be the biggest crypto currency in the next year and a half.
2. Red Pulse
Red pulse is a relatively new crypto currency that promises to herald a revolution in the research content ecosystem. The red pulse platform is creating a groundbreaking research platform that will aim to simplify incentives and directly compensate research producers for their valuable insights. Their red pulse token, thus, facilitates this ecosystem by powering a brand new content production, distribution, and consumption platform.
Red pulse CEO Jonathan Ha, while speaking to Neonewstoday, explained why he was bullish on high growth for the company saying, “According to consulting firm Burton-Taylor, the global financial data and research industry topped $27bn last year. Although Red Pulse intends to take up a specific niche area, it’s certainly a massive market to grow into. To expand and extend our platform, we’ll initially focus on key markets that we know and understand, such as Greater China. As we establish ourselves and validate our operating model, we’ll gradually expand to other regions and service offerings.”
The current platform was launched in 2015 and is being used by 50 institutional clients including partnerships with Bloomberg, Thompson Reuters, S&P Capital IQ, and FactSet financial terminals. It is because of such strong fundamentals that it is currently trading at 16 cents when it started at just .05 cents. It has already tripled in value and has the potential to go at least $4 by the end of 2018.
OmiseGO is not the only project seeking to unbank the banked using cryptocurrency technology. A lot of startups have been doing the exact same thing, including some of the recent successful cryptocurrency ICO projects. There will be fierce competition in this particular industry, which is both good and bad at the same time. It puts a lot of pressure on all teams working toward this goal, yet very few if any of them may actually succeed. Whether or not OmiseGO will do so remains to be seen.
The project itself is set up in a rather interesting way. OmiseGO uses public Ethereum-based financial technology so it can be used in traditional digital wallets. The team aims to enable real-time P2P value exchanges and payment services. All of this will be done on a global scale, rather than through localized efforts. Furthermore, the project will focus on both fiat currencies and decentralized currencies such as Bitcoin, Ethereum, and others.
Bringing a new type of financial inclusion to the banked population is not easy. This is not due to a shortage of people, as there are nearly 6 billion banked individuals on the planet today. However, not everyone wishes to be included in this new financial system either. A lot of people value the concept of living off the grid and not relying on global financial services.
OmiseGo has had staggering growth over the past six months. Back in July, the OmiseGo token was trading at 0.43 cents and is currently at $15.5. So, if you had invested just Rs. 100000 in Omise in July, that investment would have been worth Rs. 37,00,000 today. This mind boggling growth in its trading price is a factor of multiple partnerships the team at Omise was able to pull off including with fast food giant McDonalds.
Probably one of the crypto currencies with maximum potential, Dent started off with a noble cause. They wanted to make mobile data transfers easier from one geographical location to the other. With an app launch in December and data transfers currently active in US and Mexico, Dent has proved to be a product company leveraging crypto currency to the fullest. You can actually buy, sell and transfer data from US and Mexico with Dent tokens and this simple use case has been magical for Dent investors. It has seen 20x returns in just three months and the 2018 roadmap looks quite solid to deliver 50x returns on the money invested.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Bitcoin still remains the most recognised crypto currency in the market. With a marketcap of $270 billion, Bitcoin is worth more than many fortune 500 companies combined. The investors are bullish about Bitcoin because of its low circulation and wide adaptability. Some prominent investors have predicted the bitcoin to surge above $100,000 in 2018 and it’s not saying a lot as it recently touched $20,000 before settling around $16,000. If you are a bit conservative and still want good returns then Bitcoin is the way to go.
Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.
No one knows what will become of bitcoin. It is mostly unregulated, but some countries like Japan, China and Australia have begun weighing regulations. Governments are concerned about taxation and their lack of control over the currency.