2018 was a crazy year for cryptocurrencies with many ups and downs. We saw the number of cryptocurrencies skyrocket, with there now being over 2000 cryptocurrencies available. But as you’d expect from a lot of these new coins, there isn’t much in terms of innovation and creativity.
We’ve seen a massive adoption of cryptocurrencies by large companies. Many iGaming companies have been quick to adopt cryptocurrency payments and several casinos now offer Bitcoin as a payment method; we expect to see many more companies following suit in 2019 by offering more Altcoin support. So, without further ado, here’s a list we compiled of the best Altcoins that we believe will be the most profitable in 2019. We didn’t venture into risky small cap coins – major cryptocurrencies are a safe bet.
When it comes Altcoins, Ethereum is the king. It is currently ranked second by market capitalisation after Bitcoin. ETH is a much more flexible platform than Bitcoin, and can be used for many things other than just making payments. Whilst Bitcoin is more accessible to use, it does not offer the same kind of industry-wide support that Ethereum does. And while ETH has run into its fair share of problems this year, particularly its sharp decline in price, we don’t expect this to slow it down. Creator Vitalik suggested on Twitter that this drop in price was just the network returning to levels that it should be at. Ethereum has a lot of support from the Altcoin community who are enthusiastic about its development, which is another reason why we expect to see this cryptocurrency continue to thrive well into 2019.
Ripple is rated the third largest cryptocurrency by market capitalisation, behind Bitcoin and Ethereum. It is an open source podium that supports token issuance and currency exchange as well as legal transactions. Ripple was developed by Ripple Labs Inc with the intention to provide financial institutions with instant and cheaper transactions across national borders.
Ripple is aimed at larger institutions rather than individuals. Part of the shared public ledger known as the XRP Ledger, Ripple uses a consensus procedure that enables remittances, payments and and exchanges in a distributed method. Ripple provides instant cross border transaction services that many banking giants have implemented, and we expect to see many more financial institutions adopting the Ripple protocol in 2019.
EOS is the fifth largest cryptocurrency by market capitalisation. It is very similar to the Ethereum network, although it is faster and addresses many of the shortcoming of Ethereum. While Ethereum requires users to pay gas to use the network, EOS does not have gas fees and transactions are approved by a group of gatekeepers. As well as this, EOS is not mined and block producers are voted for by the community. In 2018 EOS completed a successful sale of tokens and now has huge potential to develop further into 2019.
Litecoin is the seventh biggest cryptocurrency by market capitalisation. It was founded back in 2011 and has since become a popular alternative to Bitcoin, having a top 10 market cap of over $3 billion. Litecoin took key features about Bitcoin and improved upon them, allowing for cheap and instant payments to anyone in the world. The biggest difference between Litecoin and Bitcoin is the total supply. The average mining time for a block on Litecoin is 2.5 minutes, while the average mining time for Bitcoin is 10 minutes. In addition to this, Litecoin offers a supply limit of $84 million, whereas Bitcoin total supply limit is $21 million. With millions of active users, we expect to see this cryptocurrency to continue to surge in 2019.
Those were our top picks for the best Altcoins in 2019; we hope you found this guide helpful. This is in no way intended as investment advice and you should always do your own research before investing in Altcoin. If you’re completely new to Cryptocurrency and don’t know where to start, check out our beginner’s guide to buying cryptocurrency.