Altcoins to Buy and Hold in 2018 – Hempcoin (THC), Bytecoin (BCN), Electra (ECA)
When you consider the price and recent fluctuations of Bitcoin, you would understand why many are looking for Altcoins to secure their future investments in cryptocurrency. Let us examine three potential alternatives to Bitcoin to see whether they are worth an investment.
Is Hempcoin (THC) a Worthy Altcoin?
Hempcoin has been around since March 2014. Hempcoin makes use of the Proof Of Work and Proof of Stake algorithm systems together. Hempcoin also allows users to mine the crypto coin. Hempcoin is an open-source cryptocurrency which lets developers from around the world contribute to the platform.
Hempcoin has a special attachment to the Agricultural industry, the THC team hopes that the coin can get adopted for agricultural goods and service exchange around the world. Current users of THC include marijuana dispensaries, speculative traders, farmers and distributors from around the world.
Hempcoin (THC) is not the biggest of crypto coins in the market today, but its growth is rather an impressive one. While cryptocurrencies are usually criticized for gaining and losing value under a short span, this coin has been growing slowly but consistently with only occasional value drops. Hempcoin is today valued at $0.35 with a market cap of $79 million.
Is Bytecoin (BCN) a Worthy Altcoin?
Bytecoin was initially released in 2012 as a peer-to-peer open source code for anonymous cash transactions and was the first cryptocurrency to run on the CryptoNote technology. During transactions, BCN makes the addresses of senders and recipients obscure, this provides an extra layer of security.
Bytecoin wraps the addresses using a ring algorithm signature, CryptoNote. Because the ring signature is shared by multiple users in a block, analysts of transactions will not be able to point at the person who carried out the transaction, just the group of people in the ring.
Bytecoin currently has a trading value of $0.006 with a large market cap of $1.13 billion. Bytecoin recorded its highest trading value of $0.017 earlier in January this year.
Is Electra (ECA) a Worth Altcoin?
Electra is the new kid on the block, being around for only about seven months. Electra is a decentralized peer-to-peer network. Transactions on ECA is done directly between users through the use of cryptography; eliminating the need for an intermediary during transactions.
Electra (ECA) has announced that it will be integrating Atomic swaps (transfer from one cryptocurrency to another without needing a third party exchange) soon. Electra makes use of the very secure and power efficient NIST5 as its hashing algorithm. The ECA wallet is very easy to use. Electra will be sharing its white paper on the 31st of January.
The start which Electra coin was imaginary, growing to over $800 under its first few days of release. However, after the fall it has been a tale of a slow comeback. At the time of this writing, Electra has a trading value of $0.004 with a market cap of about $93.3 billion.
This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.