Today's episode I'll give you my top four cryptocurrencies that cost under $1 and have huge growth potential.l I'll go over a little bit about what each one does. I'll make some predictions for the future and then I'd love to hear some feedback from you guys.
Basic investing advice and one of the things that I think we need to focus on is talking about the significance of a crypto-currency that's value is under $1 people seem to get very fixated on the amount of a cryptocurrency so for example with Bitcoin they said one Bitcoin is worth more than the price of gold and then a bunch of other people chime in and say that's crazy it can't possibly be worth that much. I think that demonstrates a fundamental lack of understanding about the way that cryptocurrencies work because old cryptocurrencies a based on supply and demand.
So if you see a price in the marketplace it's what people are willing to pay. The fact that the crypto currency is worth under a dollar is really a psychological barrier that people have and a lot of times people say I don't want to invest in cryptocurrency because it's $3,400 and I think that the way of thinking is flawed because if you're going to invest in cryptocurrency you should be looking at the technology you should be looking at the industries that it's serving and you should be looking at its growth potential. I think probably the most insignificant number is the number that the price that it actually is because with Bitcoin is possible to buy fractions of a Bitcoin.
I would much rather own .001 Bitcoin than 1,000 old coins that have no future and I just sort of a scam coin built on hype. So with that said I am going to give you my top 4 recommendations of cryptocurrencies that do cost under a $1, but I would encourage anybody that's interested in investing in the cryptocurrency space to do research on all the coins because earning a fraction of one really good coin, in my opinion, is much better than earning a ton of a crappy old coin.
My first choice for coins that cost less than $1 is IOTA. IOTA has the potential to change the way we do payments and there's a huge difference in the IOTA technology to almost every other cryptocurrency out there. It is promising absolutely free transactions so if you are part of the network and you want to send a payment you need to use your device to confirm two payments. In that way just participating in the network is enough to get access to it. So while the transaction fees on different Altcoins had been getting lower and lower and lower that's great and that's a huge improvement over Visa card MasterCard.
It's a massive improvement over the banks in that face structure it's still not free and it's hard to be free. IOTA created this concept and it promises to offer a completely free transaction system and that's going to allow for all types of microtransactions, it's going to allow for all types of implementation that I don't think we even thought of yet.It can be used to buy something that cost $0.01, it has so much potential that I don't know where the ceiling is. If it doesn't get a critical mass and people are not going to use it then obviously there is a risk. But if this becomes the main system and it becomes what is used by 6billion people in the world then the sky is the limit.
My next choice is Bitshares. Bitshares is a real-time trading platform and it has some really unique features to it. It's established it's got a working product, it also has lots of applications that sit underneath bitshares. So while Bitshares is like for example the company if you want to think of it that way, BITUSD BITGLD which is big gold there are the services underneath it. It offers a really good exchange platform,
It's a great way to trade different cryptocurrencies and it's also a way that you can convert for example Bitcoin into another cryptocurrency, BitUSD and you can safely hold bit USD which will always be worth $1 give or take 1% as opposed to being exposed to the volatility of the crypto markets.So because it's got these unique offerings and its already working in the market I think that it represents excellent value and solid business model and huge growth potential this cryptocurrency that's currently trading at $0.13c is my second favourite crypto
My third favourite cryptocurrency the cost less than $1 is Siacoin.This coin allows users to rent out their unused hard drive space and make money and one thing that makes this technology so appealing is it when I compared the price of using Sia coins storage solutions to Amazon AWS it was about 15% of the price.Siacoin has a variable pricing model so as more users add storage the price will go down as storage becomes scarce the price for storage will go up.
The nice part about this is because users are using their unused hard drive space as long as they can cover the cost of electricity while then everything else is profit for them. So this technology has a huge potential to disrupt Amazon AWS Dropbox and Google Drive and for that reason and the fact that it's trading under $0.01 right now I think it has an incredible growth potential and it could really be disruptive in this Cloud storage industry.
Finally the last cryptocurrency that I liked costs and costs less than a dollar is Ripple. Ripples trading at $0.13cents right now and it promises to help Banks and financial institutions with transactions and if you've ever been to a bank and realize how much money it cost to do a wire fee or how much they jack you when it comes to the transactions between foreign currencies. You'll realize it they suck and everything slow and everything is really expensive and ripple can work with the banks or it can work without them. But it will allow for this fast real-time transactions and it will be at a fraction of the cost.
Originally I didn't like this technology so much because it uses a centralized model and it sort of deviates away from the original blockchain concept but now as I'm understanding more and more about what the applications are and its potential I'm really starting to warm up to it and for that reason it's my fourth favorite currency.
I hope you enjoy reading today's Dail cryptocurrency Dose. I'm always interested to find out what you think.
To anyone investing in Ripple: Keep in mind this is a pre-mined shitcoin, and doesn't actually do anything.
In other words, you do not need XRP to transact via Ripple. Banks won't need to buy the token. It appears to be symbolic.
I am actually still a having a question mark on that coin.
I'm not saying it's bad to buy it. These may not be problems for the market. I missed the boat on this by not buying at half a cent. Now I wouldn't mind getting some at a dime, I guess.
I think your picks were very good, I like them all. I with I could get Iota more easily.
I just made my amount six times by Ripple today, don't give advice on something you don't understand.
What are some coins you like over $1 that you think have breakout potential?
Thanks @tinashe I have Iota and Ripple. I am intrigued by Sia.
Cheers
you are welcome ,well i am into Sia more
I can definitely agree with iota and ripple, the other two i am not to familiar with.
okay, well there are coins you should research on
I'm also very hooked with the first too. I'm also interested in storage sharing economy ones, like maidsafe, sia and storjx, but i didn't investigate much into it.
Regarding ripple, I have many question marks. First of all because it's a closed source project. How could I run a node I don't know what's inside?
Second of all, many banks are contributing to the project. On one side it's an adnvantage, but on the other side could I trust it, when blockchain is supposed to disrupt financial sector as we know it?
That boggles me too but i still find it as a great coin to invest but after a lot of research
Find IOTA quite interesting too
well sia is the coin i am much more interested in
IOTA is the best ;)
Yee it is but i am looking more into Sia
There is so much competition in Sia. Filecoin is also creating a lot of buzz. I am holding both IOTA (more) and Sia. I see more potential in IOTA!
I see that most of your posts are regarding IOTA. Can you share the reasons as to why you are so upbeat about IOTA?
hi @gokulnk, I am so much positive about IOTA due to its technology and dev team. Blockchain has its own limitation and can't suffice IOT use cases. IOTA uses tangle (DAG) to solve it. Zero transaction fee, fixed supply, no mining, quantum resistant are some of its awesome features.
I also have to wonder what businesses would rent their HD space out, because it seems like a security risk. Individual people (you and I) wouldn't do it either. I don't want to slow my computer down with other people's stuff.
it's interesting !!
where do you see siacoin vs golem, and also potentially filecoin?
I know you didn't ask me, but i just wanted readers new to the market to be sure that Golem is not a storage platform. It is a platform to allow you to sell your computers processing power to users over the Golem Network. So there is no comparison to Siacoin or Fileshare technology wise.
If you were speaking of price alone though, Golem is on a hot streak right now for sure. I hope you bought some 9 months ago when you posted this lol.
Wow, This is such a hot topic on steem and you are very well informed. I saw you joined minnowfaucet so I am adding you and appreciate you doing the same in return. Hopefully, I will have something on my blog that you will be interested in to help you as well.
Love and Peace,
Melissa
Bitshares has pretty much been a thud for me. With waves and safex getting enout attention it might be difficult for Bitshares to make a come back unless they make changes to the UI and push for volumes on Bitshares.
I tried trading on Bitshares for a month, there are no volumes and the spread is very high. I hope they come back. I just dumped by bitshares after loosing around 40%. I will reinvest back in Bitshares once the volumes pick up.
Wow nice job with the predictions!!
Yes agree. What are your newest favorite coins Under $1
Hope you did buy Ripple, Tinashe. 🙂
I am relatively heavy on IOTA. The news about Volkswagen's and IOTA's partnership, for their autonomous vehicle line is a project that we should actually be able see working by 2025. This is the date that they predict they will have 15 production models of autonomous vehicles, all speaking to eachother, the infastructure, and to the user/driver. This is truly fascinating.
Siacoin is trying hard to do a great thing. Decentralized community cloud storage is a mager shake up of 3 huge technology companies (Google, Amazon, Microsoft). There are a few others trying to accomplish this, Filecoin, Maidsafe, and Storj. If any one of these comes even close to competing with current the current cloud storage options, then their respective coins could potentially blow the roof off their price charts.
Ripple is very strange to me. I understand the technology and the Ripple company's goals, but the way they set up transaction platforms for banks and companies that agree to use Ripple doesn't sit well with me. Even if all the banks in the world start using Ripple's programs, they aren't actually obligated to use the XRP currency... "wait... what!" So bisically Ripple as a company can become a hugely profitable company, but if none of the transactions use XRP, then the currency itself may never go anywhere. The other thing that bothers me is how it sits for the most part at the #3 spot on total Crypto Market Capitalization charts, and has for a while, but is still under a dollar?? I dont know. I am invested a little into XRP, simply because it is so popular, and Banks ARE partnering up, but i only put in an amount of money that i dont care about, just to see what happens.
Bitshares hasn't been able to intrigue me yet. Maybe i need to do some more research on it though.
Bitshares currently does more op/tx per day than Bitcoin and Ether combined and is easily the most undervalued coin on the market. The Bitshares exchange is fully decentralized, fast, cheap and easy to use. Bitshares has been chugging away for years and working beautifully but has not been marketed at all. The HERO campaign is supposed to do a ton of marketing so BTS should be headed up signifigantly over the next 6-12 months.
Thats very true thank you for the insight.
@tinashe Yes agree. What are your newest or most current /favorite alt coin picks Under $1??