What – s the best cryptocurrency to invest in, long term? Why?
Etheruem is one the best investments you can make, let me tell you why.
- Currency name: Ether
- Ethereum was born through an Initial Coin Suggesting (ICO)
Firstly, Ethereum is more than just a cryptocurrency, it is a blockchain-based, distributed computing platform.
Ethereum was embarked by Vitalik Buterin, a programmer who was originally involved with Bitcoin but left to commence Etheruem after his proposal to give Bitcoin a general scripting language was not accepted.
What makes Ethereum a better investment than most cryptocurrencies lies in its technology.
These are protocols or systems used to enforce, facilitate or verify the negotiation or spectacle of a contract. Brainy Contracts are essential for a trustless system, for example if I buy something from an online store I am trusting that they will send it to me after I make the payment and, if they do send it to me they are trusting me not to switch roles my credit card payment to take both the money and take the product for free.
A clever contract in this example would enable a user to pay for a service (using Ether for example) and the clever contract would then release the product.
Just imagine you bought a fitness tracker from a sports website and the clever contract automatically sends a message to the fulfilment warehouse to package and ship your product and then send you an e-mail with the estimated delivery times. No need to worry about buyer or seller fraud.
The example I just gave is most likely a future example since we are still in the early stages and brainy contracts are mainly used for digital purposes at this point but hopefully you understand what I mean.
Wise contracts are made possible by the Ethereum Virtual Machine (EVM) Ethereums clever contract runtime enviroment.
Token Creation and CrowdFunding
This is another powerful example of Ethereums technology, if you dreamed to create a cryptocurrency or value token for your organization you could do it through an ICO (Initial Coin Suggesting) hosted on the Ethereum blockchain.
This permits you to raise funds for your project by suggesting contributers value tokens in exchange for currencies like Ether or Bitcoin, you might prize contributors with a ratio of one thousand Tokens for every ETH (Ether). Once your platform goes live the tokens can then be used in whatever way it was intended, that could be token based cashback, using tokens to pay for inbuilt services like adverts and promotions, paying for premium features and so on.
Notable examples include:
One popular telling is that during the Gold Rush, the people who made the most money where the ones selling the shovels. Ethereum is a platform that permits other cryptocurrencies, crypto-assets, apps, blockchain-based programs and platforms to be built and funded.
These following cryptocurrencies are predicted to be some of the promising one's and could go after or surpass Bitcoins expectations.
- Ethereum – It is a wise contract based platform. Much different than Bitcoin.
- NEO – Also a brainy contract based platform. Called the Ethereum of China. Has the same potential if not more than Ethereum.
- IOTA – Truly revolutionary blockchain technology. Converting blockchain to a fresh level essentially. It’s actually Tangle technology, not blockchain.
- Civic- Building an identity based platform that could substitute a lot of login credentials. Doctor’s office, airport, etc.
- EOS – A fresh ICO that will bridge the gap inbetween programmers, and the blockchain making it lighter for them to program and develop on.
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Albeit, there are many cryptocurrencies available for long-term investment namely;
But out of them Bitcoin began to build up popularity in 2013, the other cryptocurrencies have appeared that are attempting to get a share of this emerging market, worth billions.
What is bitcoin?
“Bitcoin is the very first form of 100% digital money, it has no physical form and will not have it, it was created to live on the web, and more than 50% of the world’s population has access to this currency. A way of interacting economically as we have it in the physical world.
What drives Bitcoin's prices?
The Bitcoin market is thick, with a capitalization of $ twenty billion. If, at the beginning, it was only used by cryptocurrency enthusiasts, it has now consolidated its status as a legitimate financial instrument in the currency market.
As such, Bitcoin could be influenced by variations in the currency market, mainly because many investors consider it an active safe haven.
For example, when the Yuan was very powerless at the end of 2016, many Chinese investors came to Bitcoin, which caused a big rise in price.
Investing in bitcoins: high potential, but big risks
This cryptocurrency has attracted the attention of the people for its surplus value, but its purchase carries significant considerations.
Investing in bitcoins resembles investments in other currencies; The principle of buying cheap and selling expensive to make a profit is the same, but in the case of digital currency there are significant considerations that all interested should keep in mind.
The very first of these is their volatility. "The price of a bitcoin fluctuates several times during the day in greater magnitude than other currencies or stocks, which is a risk for most, but an chance for speculators or traders who know their markets.
Investing in any currency is an activity that, toughly speaking, can be done in two ways: the speculative, by means of brief sales (buying and selling currencies several times in one day depending on the possibilities of the price going up or down), Or by developing a medium- or long-term investment scheme (i.e buying currencies and saving them for a longer period to sell them when adequate).
Developing a Strategy
Once you understand the risks of investing in bitcoins, the next step is to develop a strategy and, even more significant, to have discipline with it.
"You need to have a strategy and respect it; Have a price at which to buy and sell, define how much you want to win and how much you are willing to lose. It does not always win and it is better to cut a petite loss, to lose the accumulated profits and to reduce its capital.
For this reason, specialists agree that a plan focused on the long term is the most advisable, since bitcoin has had a positive spectacle, which is expected to remain in the coming years, despite their strong daily adjustments.
For those who just want to attempt without getting into the daily or weekly sale of bitcoins, Kovac recommended a very specific strategy.
"You can buy bitcoins once a week for five hundred or 1,000 pesos, regardless of the price; The average price of your investment in bitcoins will be very good, since albeit one day purchases more expensive and the next cheaper, the long-term average will be better than telling 'today the price is good, I will buy for 50,000 pesos' but you can That tomorrow may come even lower; If he buys regularly and leaves it for a year or two it is not speculation. "
For his part, Rodriguez advised to perform a technical analysis of the currency, that is, examine the data of his behavior to identify possible opportunities to buy and sell. This analysis can be performed in conjunction with the indicators that exist at the exchange sites.
In addition, he suggested not neglecting the fundamental analysis, which is used to read and interpret information on macroeconomic indicators and political decisions that could affect the price of bitcoin.
This analysis can be done by searching for information on the number of transactions performed per day and the investments that banks or financial institutions have made in Bitcoin companies. In addition, information on the growth of companies of Bitcoin and blockchain can indicate a possible growth of cryptocurrency, as well as fresh use cases such as international payments and payment processors.
If you are gravely interested in investing long term, I would recommend to invest in Gulden, it is still puny but it is one of the few coins with real world use: pay taxi’s, order food, ready and effortless to use cashier apps for store owners, two EURO-GULDEN exchanges upcoming, strong and real community, real innovation with POW2 making the blockchain quicker (only two confirms, soon zero confirms), more secure, permitting you to get ‘interest’ just like a bank, link your mobile wallets with your desktop wallet through the chain (NO central server, all decentralized).
Gulden is digital money based on the blockchain technology, also called a cryptocurrency. Many people think blockchain is the same as cryptocurrency, but it’s two separate things. Where the blockchain is the railroad, the cryprocurrency is the train on the rails. That being said, obviously you can put different trains and wagons on those rails. Think of other applications on the Gulden blockchain network. Like apps that use the network, but more about that later.
Let’s get back to the Gulden train. Gulden was devised by Rijk Plasman and is a decentralized currency, which means that nobody is the possessor of Gulden. So neighter does Rijk. And if he or other members of the development team would stop, the train will proceed. This because Gulden is an open source project. The code is public. Can not somebody then take a copy and commence his own coin? In theory this could be done, only in practice this is very difficult. Very first of all, it would be very much time consuming. Someone who does or has to do with software development knows what I mean. On the other forearm, you must also have the capability to program the blockchain. And the latter is, now that banks and governments worldwide are massively attracting blockchain programmers, becoming scarce.
Gulden is mainly intended to pay with, for example in shops, restaurants, online and inbetween relatives. Boundless, rapid and safe. It is also much cheaper than keeping a bank account with its quarterly costs, because you manage your money yourself.
People often leave behind conveniently that you are transfering an amount to your bank every quarter just to being able to hold a payment account. Because this is often payed automatically you do not notice it so much. Clever thinking of those banks. But it can be done differently! Not paying anything at all to keep your money safe. Just manage your money on the blockchain yourself. And which train you choose to do so is of course up to you. But Gulden is definitifaly a superb choice.
So there is no bank involved, is that safe?
Yes, as safe as you are. If you save money on the blockchain, it registers on many computers worldwide. All those computers check each other, so it can not be tempered with. No Ice-Save or Malta scenes! Only with your special recovery sentence/key you have access. This key consists of twelve words and is in your payment application, the wallet. Decently storing this key is crucial. And the securer you keep it, the safer your money. So, where you previously paid the bank to keep your key, with all corruption, risks and bank scandals free of charge, you can do it yourself now. Gives a much beter feeling doesn’t it, being able to arrange it yourself!
Are there any more benefits to using Gulden?
Well, do you have a moment?
Let’s begin with that it’s just super rapid too. If you transfer Gulden, it will be credited within seconds. So also on weekends an up to date balance, worldwide! And to zero costs! Ever attempted to transfer money abroad? Apart from the days it takes, its pretty costly. Transfering hundred Euros from any european country to America will already cost you twenty-five Euros transaction and administration costs using regular banks. And why? Because somebody still has to pay those high salaries, logically.
But let’s be fair, even Gulden costs a little money. For each transaction, a petite fee is deducted. This is in the order of cents. This fee is distributed among the people who use their computers worldwide to keep the Gulden network up and running, the ‘miners’. Pretty fair.
Will this fee remain that low in the future? Good question, since indeed with for example Bitcoin these fees are rising on a daily basis. Fees as high as a few Euro are very common today. In fact, Bitcoin has therefor become unattractive as a means of payment. Imagine you want to buy an ice juices in the stations store for three Euro, then you have to add another two Euros for the Bitcoin transaction. And then you also have a big chance that your payment confirmes long after the ice juice has been melted. Gulden is ready for this. Not only is the transaction capacity many times fatter, it has been taken into account from the outset. Vision, they call it at Gulden. Everything is done to make Gulden an effortless and regular means of payment. The ultimate purpose is to be able to pay at the local supermarket. The joy is that Guldens are already accepted at more and more places.
Entrepreneurs take note
I mentioned it shortly above, Gulden would like to be a low-threshold payment method that will permit you to pay anywhere in the world. Presently there are about 65,000 Gulden users. And that number is growing quicker and swifter. Where using it is virtually free of charge , there are also fine advantages for the entrepreneur receiving Gulden payments. I do not need to explain to an entrepreneur what his monthly costs for payment terminals are. Or the cost of an online/iDeal transaction. Gulden does not have these costs. But how do you get into Gulden as an entrepreneur? Elementary. In many areas Gulden works closely with the payment provider Nocks BV . Within a few steps, you can sign up as an entrepreneur and download the free app . In the app tapp in the amount the customer has to pay in Euros. The app automatically shows the amount in Guldens with a QR code. The customer scans this code with his phone and the transaction is done. Nocks will sent the entrepreneur a detailed overview of the transactions for his accountant. For this service, only a few Eurocent will be calculated for the transaction, no further costs! No bank can rival with this!
Are there any companies working with Gulden?
In brief? Yes! For example, you can pay with Guldens ( movie ) at Taxi Noord in Groningen, have a drink on Curaçao or take a sandwich at the Subway restaurant in Leeuwarden.
But also the large business internet service provider Xenosite works with Gulden. The number of acceptants is growing ever swifter. And that’s not all, of course, you can also pay with the app at the thousands of Bitcoin acceptors. Just scan the Bitcoin QR code, done. And if you want to transfer money to your energy supplier then that’s not a problem either. Pack in the IBAN number and go.
Gulden has an open community that is competent and helpful to response all sorts of questions, if necessary in English, French and German. And the app is now available in Korean and Chinese to name just a few languages.
Now we are talking about the community. Here’s just a quote that I spotted today: “That transparency and (Gulden)teams clear vision actually persuaded me to buy Gulden.“. Especially people who are familiar with crypto coins are excited about the ease of use and speed of Gulden.
It can be very tempting to put all your savings in Gulden, but the community warns again and again. Just invest with money you can truly miss. Not because one has no confidence, but more because one attempts to prevent a hype. Gulden itself does not advertise or the like, even tho’ the community itself is very busy promoting Gulden in a fair and decent way. Informing people, so they can make their own choices.
Where does Gulden go from here? Is it wise to invest? The big question of course. Usually asked by people who want to get rich quick. Gulden is different from the majority of crypto coins . Many of the crypto coins are strongly linked to the Bitcoin rate. The unique thing about Gulden is that there is a very large group of people who use Gulden but have never wielded any Bitcoin. That’s because you can purchase Gulden directly through Nocks (in the app). Gulden has much more roots in the Euro rate than in Bitcoins’. This is getting stronger now that two Euro-Gulden exchanges will be opened soon . Price influence by bitcoin is then downright marginalized. Of course, it will still be possible to buy Gulden through Bitcoin but it will not be the main market anymore. Another effect of this is, that when Bitcoin price plummets, Gulden remains stable and even rises! Gulden is increasingly becoming a safe haven for crytousers, such as gold is for stock trading.
How reliable is that Nocks anyways? And why is a copy of your ID requested if you want to buy/sell for higher amounts?
The reason you have to provide your ID card is that companies that deal with money must obey with stringent rules. The ID check ensures that Nocks can not be used for laundering practices. With this they attempt to make Gulden even safer. So no Bitcoin scam scenes.
By the way, blockchain accounts are not anonymous, which many people tend to think. Everyone can see what’s in your account, very semitransparent. However, it is difficult to find out who’s the possessor of that account. And to make it even firmer, your wallet automatically issues a fresh accountnumber after each transaction, with the old one still working of course. A bit technical but some users might like to know this.
Gulden has an awesome roadmap for developments. The apps and underlying technics are continually enhanced and further perfected. As well as the Gulden network and developments at Nocks.
There is a roadmap for almost all major things that are presently being developed. I’ll shortly mention PoW2. That’s a big software update that comes about . This update makes Gulden transactions not only unprecedentely much swifter, but also much safer. That is achieved by so-called ‘witnesses’. This means that you can create a deposit account in the Gulden app. And as a good deposit account entails, you will receive interest on this account. The next question is of course, where does this interest come from and how high is it. Ordinary. Previously I spoke of transaction costs. With each transfer, a petite amount is retained for maintaining the Gulden network. This went until recently for the utter one hundred percent to the ‘miners’. With the software update and thus the witness program, transaction costs are now allocated twenty percent to pay the interest on the deposits. How much interest or compensation you’ll receive depends a little on how long you deposite your Gulden, ranging from one month to a maximum of three years, and how many you store away. The puny estimate is that it could yield about two percent. Here too, Gulden is a better choice than putting your money in the palms of a regular bank. But how does this make the network safer? This is something more technical, but it means that the depositor will help, automatically, to monitor the network. For this reason, the deposit app must be connected to the internet day and night. A puny computer like a Rasberry PI will be suficient.
As stated, Gulden is just one of the many trains on the Gulden blockchain. More will fit on the railway. And Nocks is presently busy with it. Individual apps that have nothing to do with Gulden itself, are presently under development. And in November we will very likely see the very first ones show up . For example, think of an app for concert tickets. Never again you have the fear of buying a fake ticket through Marketplace or eBay, because the ticket itself ‘knows’ if it’s valid. And so there are innumerable examples imaginable on how the railway will be used.
But Gulden also stands for a beautiful future. Today, Rijk, founder of Gulden, collective the following: Most of (as far as I know all) cryptocoins use a blockchain system which is not very efficient, for example, many empty blocks are being mined (so without transactions). Or speed of transactions is achieved with just adding more blocks (ridiculous). With PoW2, a lot of these issues are being solved, but we are working on something else. Internally it’s called Sonic. It is an efficient and swift synchronization system. In the very first version of this we will attempt to get the synchronization under one hour. In the next versions, it is even getting shorter than that.
We are very busy with this kind of long-term development, it has to be swifter and better. We do not just add short-term features for hype, because then it will slow down or even break down downright.
About Sonic. If you install the app or wallet for the very first time, synchronization takes place with the blockchain. This is approximately six hundred MB for Gulden which is petite compared to Bitcoin’s one hundred nineteen GB. However, the very first synchronization still takes up a duo of hours. By means of ‘Sonic’, The Gulden developers attempt to solve this problem and speed up this process.
Bitcoin was the very first, something with inhibitory lead, the steam train as you like, with Gulden being the maglev train.
Is Gulden worth an investment? Let me say it like this: Any time soon people will notice that there’s a currency out there that’s leading in developments ……
P.S. for those indeed interested in ETF’s, Shares and Investment Companies looking at Gulden, just read this GuldenTrader partnership with Tatch Capital Ltd . article.
Yes, it’ s premined, but all the money has been put to good use!