Everybody knows such cryptocurrencies as Bitcoin or Ethereum, but there is a vast majority of other digital tokens, which are certainly undervalued right now
against their future potential. The market has been showing a downtrend lately, but at the same time, many cryptocurrencies have increased their base of users, found new partners, and broke down limitations. Some of the coins seem to be ideal for growth in the near future, yet it’s important to give it a day or two and do a research, to be skeptical in some way, and keep in mind the rule — never assume, but always check.
It’s all about the prospects of the cryptomarket, which I strongly believe in. This business is still young, it keeps maturing, but with the long-term approach it will stop being as volatile and unpredictable as it is now. Yes, I think that even the major crypto assets are yet to show their real value, let alone the small and unheard of ones. Luckily, many exchanges have applied the policy to accept as many of them as possible.
Just as any other market on the planet, the crypto marketplaces have their risks and potential. I believe, with clever strategy and consultations with reputable professionals before making any decisions about investments, even the most undervalued cryptocurrency
can bring a good profit. Let’s take a look at several assets that can show us the fast growth during this year.
Sia launched in June 2015. It is a decentralized and open-source cloud storage platform. If you don’t use your hard disk space, you can rent it out to other users in the Sia network. In fact, this is a data storage marketplace based on the blockchain concept, which is, according to Sia’s claims, a much faster and cheaper provider than any other traditional ones. It works in a way that the network automatically creates a contract between a provider and a user, so that the latter can upload the data to the hard disk immediately.
This agreement is about what data is to be stored, at what price, and for how much time. The payments are, as you can assume, in Siacoins. The developers of this token say, the value of Sia will rise as soon as this cryptocurrency goes worldwide. Taking into account that you can also mine and play this crypto on the market, I believe this is a very interesting idea, and it may really attract lots of users and providers, thus increasing the rate of the cryptocurrency.
The main idea of Substratum is that consumers must have unlimited internet access without any restrictions, and be able to enjoy censorship-free content. It was developed by Justin Tabb, Abram Cookson, and B.J. Allmon in 2017. In this open-source network anybody may share their unused computing resources. This ambition to change how the internet works by creating a decentralized, free internet space is a matter of concern for big companies and governments. But with Substratum we can put an end to their censorship and interference. This is how it works:
- new websites and applications are added to the new decentralized world wide web;
- you become a node and let others use your computing power when you are not at home or asleep;
- when internet users request any kind of information, the nodes help them find it quickly and without any limitations;
- every time the information goes through your computer, you receive some tokens, SUBs.
I believe freedom will always be in demand, and Substratum can become a very successful project to bring its investors huge benefits.
I would not say that Stellar is a minor cryptocurrency. At the moment
of writing, it is the 8th largest crypto according to its total value, which is more than 1.6 billion dollars. This token was born after the Ripple’s code had been published on the net, and the programmers could develop the forks of this blockchain. Jed McCaleb, who was one of the biggest XRP investors, was the first to do this, and created the new coin — XLM. Nowadays, the Stellar project belongs to the Stellar Development Foundation, USA. It facilitates safe, cheap, and fast financial services. Its main idea is to conveniently connect people with payment systems and banks.
So, the scheme is as follows:
- imagine you need to put some euros on your friend’s balance, but you have only dollars. The Stellar network can help you;
- it uses multiple servers, which are actually the users’ computers, to maintain the blockchain;
- each server contains the whole record about all transactions made within the ledger;
- your dollars are recorded as credit, then converted within the system, and your friend receives the EUR credit;
- the users are paid with Lumens, or XLM, for powering the network.
You cannot mine this cryptocurrency, only earn it. Or, you can exchange your BTC for these tokens on Binance. Unfortunately, Coinbase does not work with this currency.
Nowadays, people send trillions across borders, and, as we know, it takes 2 or 3 days to send an international bank transfer. With the Ripple blockchain technology, the transfers go across the world almost instantly, and another advantage is the lower cost than sending via SWIFT or Western Union. Ripple works by offering banks a private blockchain that makes inter-bank transfers easy and convenient. In January 2018, XRP reached its highest rates, and now it holds the third place by market capitalization. This cryptocurrency can show a very fast growth if the current tendency continues. This one, together with the previous crypto, are both the providers of convenient and cheap money transfers across the world. This makes them very useful, and thus — valuable.
The Tron coin (Tronix, TRX) is quite different from the others. The entertainment industry has made an impulse for the creation of the TRON Foundation. It was founded in September 2017 by Justin Sun, and is situated in Singapore. It is based on peer-to-peer network technology, concentrates on the entertainment sector, and is focused on people instead of organizations. It is a blockchain, an internet, and an operating system in one. What does it do? It helps people post and download any kind of content, watch and listen movies and music online, without any restrictions or limitations.
The decentralized applications are meant to facilitate this. Tron makes their development much easier. When everything works as intended, the user consumes the content, and the author creates his masterpieces and publishes them on the web. Sounds like the usual internet, however, within the Tron network, there are no intermediaries between these two. The parties will pay each other using the Tron cryptocurrency, TRX. You cannot mine it, but it is traded on the crypto exchanges. If you want to store Tron, you should have a Tron wallet with a private key, which is available for iOS, Android, Windows, Mac and Chrome browser. Tron is expected to go up in value because its target audience is different from the usual one. It has already become popular on Asian markets.
NEO is a platform where you can digitize and exchange your digital assets, and the ownership of any item in the world can be transferred from one person to another. NEO was created as a competitor to the Ethereum network, and both platforms use smart contracts. It was founded by Da Hongfei, in cooperation with the research and development company named OnChain, and rebranded from Antshares in June 2017 in Shanghai. Digital asset certificates completely fit the regulations, and NEO is expected to grow and influence the world’s economic system.
If it happens as predicted, users will be able to trade their property around the world, book tickets and hotels, or buy other currencies and valuables without third parties and for lesser costs. The NEO blockchain is a fast one, with up to 1,000 transactions per second. It does not require programmers to learn a new programming language, because the system supports the contracts written in all popular ones. If you buy NEO coins, you become a shareholder of the entire blockchain. You can vote for changes in the core protocol, gather fees from users, etc. This idea, to digitize the assets and things from the real world, is very promising, and has a bright future, I believe. This cryptocurrency will be in great demand, and can soar greatly with time.
For the first time, TenX appeared on the market as ICO back in July 2017, and it is the brainchild of the namesake company. It is known as one of the most emerging companies, which allows users to fill up their wallets with cryptocurrencies and eventually spend them in real life. In fact, TenX connects the blockchain with the real world. You get a digital wallet and physical card, and you can use the latter to spend your coins at any store, even if they don’t accept crypto. There are not many places available to spend virtual tokens, and this blockchain is working on this at the moment. The cryptocurrency of this system is PAY, and with the growing demand for the TenX services, its value may significantly grow.
WAX, Worldwide Asset Exchange, was created by the founders of OPSkins, the world’s leading marketplace for trading digital items. It is aimed at gamers who want to use this cryptocurrency to sell items that they’ve earned, or buy the ones they need, in exchange for WAX tokens. The general statistics are that people involved in computer games spend billions on buying virtual armor and such things, and this international marketplace for digital assets is the best option for them. It also allows players to trade the crypto coins for regular money via the WAX exchange.
The future market share of this business is huge, and WAX is supposed to be the platform for easy transactions between cash and digital assets. There are millions of gamers who are potential users of this ecosystem, and hopefully, WAX will be a creative and useful solution to consumers’ needs. If and when it comes true, the cryptocurrency of this blockchain will run high.
Cardano was launched in September 2017 by Charles Hoskinson and a team of crypto experts and researchers in engineering to advance the way cryptocurrencies are usually designed and developed. They claim their brainchild is the third generation of the cryptocurrencies, inheriting Bitcoin and Ethereum. How is it different? Here are the main features of Cardano:
- to increase scalability, the system is designed in a way so that the more users are involved, the faster it works. Theoretically, it can maintain millions of transactions per second. The whole network is divided into many small subnetworks, to facilitate the transactions faster;
- Cardano is going to become the crypto that connects them all, fixing the problem of interoperability. It will also speed up the cooperation of blockchains and banks;
- this crypto project invented a brand-new way to increase sustainability. Cardano blockchain has a special wallet to store a small share of all transactions, and spend it only for self-development. Anyone can suggest some changes, and the community will vote if they are really necessary.
The cryptocurrency connected to this network is Ada. You can trade it on Bittrex, Binance, and BitMEX. However, the crypto tokens were not the crux of the matter to start the new blockchain project. Cardano is also the novel technology to power the decentralized applications for the financial operations. It targets individuals, large companies, governments — all participants of economic interaction, and makes it easier and faster. The system is still being constructed, so Ada is only going to reach its all-time-highs.
ARK started in 2017, and its goal is to connect this digital platform with all the cryptocurrencies that exist globally. Being a common platform for decentralized applications, it is mainly focused on the mass market. It has a good potential, and can be the catalyst to quicken the adoption of the blockchain concept by businesses all over the world. Think of it: using the ARK ecosystem, you can create your own public ledger, link it to others, launch apps accepted by any operating system, etc. The users get the opportunity to send and receive digital funds fast, and the transactions will be direct and secure. Obviously, the fuel of this blockchain, the ARK coin, can show huge growth with the development of the project.
Currently, there is a plenty of undervalued cryptocurrencies, and I certainly believe that those listed above are among the best at the moment. There is no shortage of companies with a positive vision for the future of digital currencies, I can see great teams of creators and working products today. It’s obvious, however, that coins with the lowest market capitalization come across as more risky. Remember, it’s worthwhile to consider all the information that could be found and taken into account to make the safest decisions.
Being careful and cautious and doing constant research require much attention to make the right investment and get a good profit. And never forget the golden rule — do not risk the assets that you cannot afford to lose. Now, it might be the best time to take advantage and invest in any of these undervalued coins, as any of them can go to the top of the cryptocurrency industry and the right decision can hopefully create a lot of value in the future.
John Ryan has been a cryptocurrency writer for 4 years. His main focus is new tendencies and analysis in the cryptocurrency world. You can find John’s other articles at BitcoinBestBuy.