When you ask, What crypto should I invest in, then a good place to start is Dogecoin.
The coin actually started as a joke between two programmers at the
onset of the Bitcoin hype seven years ago. The token has attained a
meme-like status among investors and is another that has been constantly
supported on Twitter by Elon Musk. This led to the recent surge in
price as it moved from $0.0045 to $0.0735 now.
The coin has also seen celebrity endorsements by Gene Simmons of rock band Kiss, and rapper Snoop Dogg.
may not have any development value but we can’t rule it out being
accepted as a form of payment for a social media app at some point. The
coin may be volatile and investors should tread carefully when buying
after big moves.
Stellar Lumens (XLM)
A coin with momentum in the project development stakes is Stellar Lumens. XLM is currently trading near its all-time highs after fluctuating strongly last year, but it is now moving ahead with some interesting projects.
developments include a $5m investment in Wyre. The company is a leading
blockchain payments provider and will allow access to XLM via a host of
Wyre has seen $5bn in transfers executed since
2013 by individual users, businesses and enterprise clients. The
platform has also seen growth in users of 260 per cent over the past
year and includes compliance and savings accounts. The recent deal could
see Stellar operating as a PayPal-style company.
development for Stellar was the news that the Ukrainian central bank had
selected the blockchain for work on its own central bank digital
currency (CBDC). Stellar has signed an agreement to be a consultant on
the country's potential virtual currencies and a CBDC option.
For investors asking what is the best cryptocurrency to invest in right now, XLM might be a rather good option.
EOS is a
currency worth looking at because the coin didn’t play a part in last
year’s big rally. It has been top of the Chinese blockchain rankings for
a long time, which is based on its “basic tech, applicability, and
The 2017 high in EOS
was around the $22 level and the current price is just above $4. That
would provide significant upside should the project move back to the
all-time highs as many coins are now doing.
The EOS network hosts
smart contracts on Virtual Machines and competes with other Dapp or
smart contract blockchains, which includes Ethereum. The ETH platform
uses gas to pay for units of computing power, while EOS uses RAM. High
gas prices were an obstacle for ETH last summer due to many projects
launching their coins on the network and struggling with fees.
in January saw one of the EOS founders stepping down. It is not yet
clear whether this will help or hinder the project as it may choose a
new development path.
Another coin that featured on the Chinese Ministry of Industry’s blockchain list was STEEM.
It is a token used on social media to reward users and it is used on
more than 300 Steem-based apps. However, currently the coin is changing
hands well below its all-time highs, trading at 250 per cent lower than
its levels in 2019.
sees more transactions than Bitcoin and Ethereum, while it could see a
big increase in value if it was to be used on one of the large social
The final coin to consider when deciding what crypto to buy now is Ripple’s XRP.
The project development team is set to defend a lawsuit from the
Securities and Exchange Regulator in the US. The SEC claims that XRP is a
security and accuses the founders of making an unlisted sale of the
The team denies that the coin is a security and the case
will be heard on February 22. If XRP gets a favourable ruling then the
coin will likely surge to catch up with the price of BTC and others but
this will depend on the judges.
The price of XRP
is sitting at $0.50 but the record highs for the coin were above $3.00
back in the 2017 rally. BTC has already doubled its own 2017 highs of
Crypto market outlook
The cryptocurrency market should see
further gains in February but they risk a correction as we go further
into March. The Tesla news will add some volumes to the market, but the
sector has been on a hot run recently and could look to cool off.
Investors could follow the rally in February-March and perhaps buy into any correction after that.
crypto market is one of the hottest investment sectors right now.
However, it involves high levels of risk due to its immense volatility.
We suggest investors and traders exercise caution and do their homework
before investing in any cryptocurrency.
If you are not ready to make long-term investment commitments but want to try to profit from the volatility, you can do so by trading cryptocurrencies with contracts for difference (CFDs).
CFDs offers the opportunity to capitalise on both bullish and bearish
price fluctuations. You can either hold a long position, speculating
that the price will rise, or a short position, speculating that it will