If you invested around $1,000 into Bitcoin back in 2013, you would now be looking at a nice six-figure sum of cash in your online cryptocurrency wallet.
You might have already seen these kinds of headlines on the internet over the course of 2017 when the digital currency skyrocketed in value.
Luckily for those who missed the opportunity to invest in Bitcoin years ago, there are several alternative cryptocurrencies worthy of your investment dollars right now.
Below is an overview of just enough information about other Bitcoin alternatives which are, at this moment, promising to invest in.
Rise of Cryptocurrency Investing
Making money in the digital trading of cryptocurrencies is not an easy task.
It takes a bit of understanding, patience and knowledge to determine when to buy or sell your assets so that you can make a profit.
It’s a risky and volatile world that will not forgive if you make bad decisions.
People today are looking to replicate the success of Bitcoin by generating “altcoins” like Ethereum, Litecoin, Dash, and other cryptocurrencies that can be bought now at a very cheap value in hopes that their price will increase in the next couple of years.
Entrepreneurs and tech advisors like Oliver Isaacs have invested in many of these Bitcoin alternatives.
The reason why they did this is because of the simple fact that these altcoins could eventually be worth more than Bitcoin in the future.
Promise of Litecoin
A notable advantage of these altcoins is the fact that the trades are simpler, allowing buying and selling to be done at an increased speed.
These cryptocurrencies are increasingly being accepted by mainstream investors and institutional hedge funds.
As such, it’s a very strong fact that these individuals and groups will look to promising altcoins like Litecoin in the future.
Litecoin was valued at around $4 at the start of 2017. But over the course of the year, its price has climbed to more than $320. By mid-December, the value of Litecoin rose by 8,000 percent in year-to-date gain.
Ethereum, Ripple & Other Altcoins
Litecoin is not the only cryptocurrency that has been growing its value during 2017, though.
Altcoins like Ethereum are now growing fast as well.
Ethereum, which had a value of $8 at the start of 2017, is now valued at a staggering price of over $750.
Another altcoin has also sparked a massive increase in value. Of course, we are talking about the fourth largest cryptocurrency on the market, which is Ripple.
This altcoin has grown by over 50 percent in late December 2017, and the growth is expected to continue.
Find the Right Cryptocurrency to Invest In
So, with everything said and done, there are a lot of altcoins worthy of your investment right now.
Experts recommend doing some research on the cryptocurrency you would like to invest in before purchasing it.
Comprehensive research can help you determine if your cryptocurrency will grow or not.
So, the main question here is: Should I ditch Bitcoin and invest in other digital currencies.
Currencies that provide a purpose or value in our everyday life, or ones that have solid growth and quality management teams, are the ones that you should invest in.
This is why you should do thorough research on your potential money-generating cryptocurrency.
Just to be on the same page about cryptocurrencies, Bitcoin is still the raging king and the market leader in the terms of value per coin.
And because it’s the one that nearly everyone is familiar with, it is the most widely used cryptocurrency in the world.
Start researching today and find yourself the cryptocurrency that will make you that six-figure of profit on your investment.