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Many of you are probably wondering what’s “hot” right now with altcoins in general.
Well,I am in no way a financial expert but I do have spent the last 8 months mining and trading crypto. Here’s some information may be helpful for those who are just starting or have no idea why altcoins prices go up and down.
In my last video, I did recommend to go ALL-IN with Darkcoins. Well, Darkcoins went all the way down to $6 and came back up (today it’s at $15), if you bought up anytime before today and my last video, you probably made some good money.
First, Bitcoins are on the rise again. With market cap of $6.9 billion for most of this year, Bitcoins have jumped almost a whopping 50% in the last few weeks. Bitcoins are still the most stable cryptocurrency and I predict it will definitely hit $2000-3000 by end of this year, probably steadily rising all the way from this point on (June). Rating – 9 out of 10. – Definitely BUY or HOLD
Litecoins are the main reasons why I started mining in the first place. Their market cap is right now around $325 million, which has remained the same most of the year. With introduction of ASIC Scrypt miners, there’s no longer “exclusiveness” to Litecoins as it once used to. But still, I do think Litecoins are very stable than most newer currencies and predict the prices to hit near $30-50 by end of this year. Rating – 7 out of 10. – Definitely BUY or HOLD
Darkcoins are really “HOT” right now. With current market cap of $65 million, Darkcoins are on the rise and ready to take over the world with their masternodes and anonymous transactions. Masternode launch has been delayed to June 14th and once Masternodes go live it will really determine whether Darkcoins will eclipse Litecoins as world’s #2 cryptocurrency. Darkcoins are the first to introduce anonymous transactions to the market making cryptocurrency 100% anonymous and will protect people’s privacy/identity. This is why Darkcoins may be better than Litecoins. Rating – 8 out of 10. – Definitely BUY or HOLD
X11coins are the #2 in race for the world’s best anonymous transactions next to Darkcoins. Although second in rase, X11coins have proved themselves very valuable as they have already a fully-working anonymous transactions working (as of June 1st 2014), meaning they’ve actually beat Darkcoins to putting a working anonymous transaction system on a “live network” With current market cap of $6.8 million and price of $1.25, they are really undervalued and should go up in the next few weeks for sure. Time will tell but if Darkcoin flops their Masternode launch again (as the first Masternodes launch ended in miserable forking disaster), X11coins may eclipse Darkcoins if they have not already with a fully-working anonymous transactions. Rating – 8 out of 10 – Definitely BUY or HOLD
Boostcoin is a the first X13-based altcoin that also has announced plans to release anonymous transactions couple days ago. With market cap of $392,000, Boostcoins have a long way to go to prove themselves but they are definitely something to keep on eye on. Rating – 6 out of 10 – Definitely BUY and WATCH
Cinnicoin is a Scrypt-based altcoin that’s mostly PoS (Proof-of-Stake) that has $1 Mil in market cap currently and have also announced anonymous transactions this week. Things may go either way for this altcoin but it may have a good future so keep an eye on this rising coin. Rating – 5 out of 10 – Definitely WATCH
Mastiffcoin is X11-based coin with $273,000 market cap, another coin that has not spiked yet. They have also announced anonymous transaction feature this week. The prices are real low right now and this could be a huge winner if it takes off. Rating – 5 out of 10 – Definitely WATCH
Pinkcoin is X11-based coin with $86,000 market cap with emphasis on helping the Breast Cancer foundations. No anonymous transactions here but definitely adding some real good to the society could be a key factor and may explode one day. Rating – 7 out of 10 – Definitely BUY and HOLD
Let’s do a virtual trade based on these with: (if we had $10,000 as of today)
30% in Bitcoins – $3000 @ $645 = 4.65 Bitcoins
15% in Litecoins – $1500 @ $11.33 = 132.4 Litecoins
20% in Darkcoins – $2000 @ $15.66 = 127.7 Darkcoins
15% in X11coins – $1500 @ $1.25 = 1200 X11coins
10% in Boostcoins – $1000 @ $0.038 = 26,315 Boostcoins
5% in Mastiffcoins – $500 @ 0.116 = 4310 Mastiffcoins
5% in Pinkcoins – $500 @ .000260 = 1,923,077 Pinkcoins
We will take a look at how our virtural trades have performed next time we take a look at the hottest altcoins.
How to Invest in These Coins with USD?
Step 1. Goto Coinbase.com and convert USD to Bitcoins.
Once you have Bitcoins (BTC), you can easily trade for other altcoins at these exchanges:
MintPal.com – Trade Litecoins, Darkcoins, X11coins
Bittrex.com – Trade Boostcoins, Mastiffcoins, Pinkcoins
How to Watch Market?
Take a look at CoinMarketCap.com and current 24-hour volume of the altcoin on exchanges like MintPal.com or Bittrex.com, If market cap and volume are rising, it’s usually a good sign. If they are stagnant, you may want to think about it. If they are going down, it may be a time to get out.
Also, market cap and volume may not be the only things affecting the price, check out what’s going on with the altcoins, read what new features/problems are “right now” at BitcoinTalk.org, especially for the newer, upcoming altcoins.
And lastly but not least, only invest how much you can afford to lose! Good luck!
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First time to digital currency?
Please see What is a Litecoin? FIRST!!!