Cryptocoin Investing in 2018 AKA Welcome to the Jungle
Cryptocoin investing in 2018 will be even more complicated than it was in 2017. As newcomers to cryptocurrency investing ask which coin to buy under different criteria such as what’s under $1, what’s expected to grow the most, will Bitcoin come back, etc. etc. they are confused by dozens and sometimes hundreds of answers.
There are right now nearly 1500 altcoins out there with many of them showing promise while in all cases it’s impossible to know for certain. This certainly makes cryptocoin investing in 2018 complicated to say the least when you consider there’s a new cryptocoin coming out on an almost daily basis. It’s unrealistic to even dream of analyzing all of these coins and reach any sort of conclusion as to where to invest in digital currency.
Sure there are lots of tips out there and among them all try to filter out all the chatter and distill it down to those coins that are being talked about over and over. Examples include Verge and Ripple (VXG and XRP) which are getting lots of attention from many people in the cryptocoin investing community. In cases like these where a few coins standout from the masses go ahead and take a deep dive with cryptocurrency research and see if such a cryptocoin investment makes as much sense as it sounds.
Cryptocoin Investing in 2018 needs to be approached with conservatism and caution. That’s because we forecast the cryptocoin markets will be flooded with new coins making it even more difficult to ascertain which among them are the most promising investments. All of the rest are casually labeled “shitcoins” and are largely avoided, whether they do or do not deserve it.
The safer strategy as I see it when it comes to cryptocoin investing in 2018 is to stick with the better known cryptocoins like Bitcoin, Ethereum and Litecoin. Personally, my portfolio is all about Bitcoin as I am a Bitcoin miner and collect new Bitcoin every day. That’s my focus and John McAfee agrees that buying Bitcoin right now represents a bargain.