In just a few days, 2017 will come to an end and we will usher in a new year. For many investors, this year has probably turned out to be a pretty good one. Despite the fact that all three major stock indexes reached new all-time highs, the cryptocurrency gains have completely blown all competition out of the water.
For those who decided to take the leap of faith into the cryptosphere have seen returns that investors may not see over the course of their entire lifetime, and it happened in less than 12 months.
The word on the street is that 2018 is going to be the year of the Altcoins. In a nutshell, Altcoins are essentially ‘alternative coins’ that were created after the Bitcoin was introduced to the world, with the intention of improving or fixing existing issues in the blockchain space. There are already a few thousand coins in circulation, and the number keeps on growing. Chances are that there are probably a handful of coins coming to life as we speak.
That being said, If you want to buy any Altcoin, it usually has to be done by exchanging one of the reference coins, for example, Bitcoin or Ethereum (the biggest Altcoin in the market). Most crypto traders would agree that this is quite the hassle, many haven’t even gone that far. In the last few months we see more companies, like Coinbase, offering direct purchase of Alts, but only a few, 99% of the Altcoins are still out of reach for most novice investors. It still hasn’t stopped the Altcoins from attracting almost 40% of the total crypto Market Cap, that’s a whole lot of money and a whole lot of trust.
But what will happen when we could be able to buy Altcoins directly without having to buy a reference coin? That’s when they coins will rise to heights that we have never seen before. Of course, many will die along the way, maybe we will be left with a selected few, maybe none at all, who knows. One way or another the Altcoins will keep us on our toes in 2018.
Choose your Alts and choose them wisely,