Wikicoin Vera Thornpike

Will Ripple Reach $100 or More in the Next 5 Years?

📚 Wikicoin
Ripple is the 2nd world cryptocurrency after Bitcoin and one of the most stable coins in the current bearish market. But is it good enough to reach $100?
Will Ripple Reach $100 or More in the Next 5 Years?
Contents

 

 

With Ripple resisting the trends of the bearish market and growing in price, many investors have high hopes for making profits with XRP in the coming years. Can Ripple hit the 100 USD threshold? What are the chances of that? Let’s find out what XRP’s potential value is, and compare the opinions of Internet users and advanced traders.

What makes Ripple superb?

Unlike Bitcoin, Ripple was created for a different mission: this is an open-source protocol that enables cheap and fast transactions. Ripple was designed for institutional users and banks rather than individual users because it facilitates international transactions in a huge volume. While it sounds too ambitious, practice shows that Ripple does its work pretty well.

Ripple serves both as a currency and a platform: it helps people find each other and exchange literally any cryptocurrency, including Bitcoin and hundreds of other altcoins. The transaction fee is minimal – $0.0001. It was introduced to prevent DDoS attack and hackers.

It goes without mentioning it has a pretty high transaction processing speed: at the moment, Ripple is capable of processing about 1,500 operations. Unlike other cryptocurrencies, the platform works without blockchain — it uses the Ripple protocol consensus algorithm (RPCA) instead.

Ripple’s key advantages
Ripple has a lot of advantages over other coins

 

Ripple’s superiority is also conditioned by the huge support it gets from investors. Just look at the list of contributors:

Date

Funding

type

Investor

Amount

($ mln)

April 2013

Angel

Andreessen Horowitz, FF Angel LLC, Lightspeed Venture Partners, Pantera Capital, Vast Ventures, Bitcoin Opportunity Fund

2.5

May 2013

Angel

Google Ventures, IDG Capital Partners

3.0

November 2013

Seed

Core Innovation Capital, Venture51, Camp One Ventures, IDG Capital Partners

3.5

May 2015

Series A

IDG Capital Partners, Seagate Technology, AME Cloud Ventures, ChinaRock Capital Management, China Growth Capital, Wicklow Capital, Bitcoin Opportunity Corp, Core Innovation Capital, Route 66 Ventures, RRE Ventures, Vast Ventures, Venture 51

28

October 2015

Series A

Santander InnoVentures

4

September 2016

Series B

Standard Chartered, AccentureSCB Digital Ventures, SBI Holdings, Santander InnoVentures, CME Group, Seagate Technology

55

 

Ripple’s expected growth cannot be overestimated thanks to the huge list of banks that partnered up with it: Union Credit, Westpac, NBAD, UBS, Axis Bank, Yes Bank.

Why can Ripple’s 100 USD price prediction become a reality?

In the following years, Ripple will sell 55 bln XRP that is locked in escrow. Once the sale is finished, the vast majority of coins will help in banks, so usual investors won’t be able to purchase coins. Although there are billions of coins, the situation when an investor is ready to buy a coin at any price, say, $100 or $1,000, is possible. Deficiency can make XRP prices soar.

Major Ripple corporate investors
The list of Ripple investors is quite impressive

 

Another reason to assume that XRP can hit $100 is that Ripple is too sublime to fail. While Bitcoin hasn’t been properly adopted and is too slow, Ripple is making its way to the top at a steady pace. It will soon be the global currency circulating in world banks: the team is already doing business with American Express and Japanese banks.

So if you still wonder, “Will Ripple reach $100?” don’t doubt: Wall Street professionals and world banks are likely to boost its value considerably.

Will Ripple reach 100$? Here’s what numbers say

Yet, when estimating how high will Ripple go, we shouldn’t forget about real facts. Let’s do simple math.

Total Ripple Supply= 100,000,000,000 XRP

For XRP to be worth a $100 in future it should earn about 100,000,000,000 x $ 100 = $10,000,000,000,000 capital.

That’s $10 Trillion (Bitcoin’s current market cap is $213 bln).

How much is it now?

Compare:

The U.S. GDP was about $18.46 trillion in 2016. With Apple worth $800 bln, you could buy 12.5 Apple companies for $10 trillion.

At the moment, no company has reached the market cap of even $1 trillion with Amazon, Google and Apple being race leaders. Compared to that, Ripple’s $17 bln market cap is nothing. To reach XRP $100 price, the company should do something impossible.

World money in perspective
For XRP to hit $100, Ripple’s market cap should exceed the total cost of all gold on Earth

 

Most likely, Ripple 100 dollars threshold won’t be hit within the following five years — its total supply is too high. Yet, when it comes to Ripple price prediction 2030, such suggestions can apply.

Experts’ Ripple price forecast

What do professionals think about Ripple’s future?

Roman Guelfi-Gibbs, the CEO and Lead Systems Designer for Pinnacle Brilliance Systems Inc., reckons that the world needs time to digest the technological headwinds caused by altcoin. 2018 is only beginning — the true rise of Ripple will be witnessed in 2019.

Samson Williams, CSO of Ireland-based fintech firm SeedUp, says that Ripple isn’t a cryptocurrency but rather a new toy for banks. However, after 2018, it should get a bump.

Shidan Gouran, president of Global Blockchain Technologies, expressed the following opinion:

“Ripple is unlikely to go up by one or two notches in the cryptocurrency world in 2018, and this is the case for three reasons. The first reason is the sheer dollar volume that separates each of the three currencies in the top positions, in terms of their market cap. Bitcoin is at over $191 billion, Ethereum is at over $84 billion, and Ripple is at over $35 billion. To displace Ethereum would require a deficit of about $49 billion to be closed (which is more than double Iceland's entire national GDP). The second reason is that the use cases for Ripple are mostly for the trade of assets, not for day-to-day spending. As consumer awareness of cryptocurrencies will rise significantly in 2018 and beyond, the interest of the masses will be on cryptocurrencies that can be used as currencies, not just for investment transactions. Finally, the third reason is that because Ripple cannot be bought with fiat currencies, one must purchase existing cryptocurrencies such as Bitcoin and Ethereum to purchase XRP. This goes on to feed demand for Bitcoin and Ethereum, and will only solidify their positions as the top two cryptocurrencies on the market.“

Therefore, Ripple’s projected growth isn’t likely to be stopped, but it’s not so tremendous for the currency to get even to $50.

It’s time to unlock the potential: How high Ripple’s price can go?

As you can see, Ripple’s price prediction for 2020 and further is mostly positive: no one doubts that the cryptocurrency has enough potential to conquer the market. But when it comes to the cost of the asset, the future is unclear.

Even if you’re a very accurate and smart trader, you will never be able to predict the exact cost of crypto referring to its past. There are too many factors that count. Therefore, no one can say for sure how high could Ripple go. Check out the diversity of forecasts from WalletInvestor.com:

XRP price predictions
Ripple prediction from different sources

 

What are the factors that may influence Ripple’s growth or slow it down?

Factors contributing to XRP development

Factors hindering XRP development

Ripple is not just another startup — it’s a potent project with serious technical advantages.

Ripple is highly centralized — that repels some crypto enthusiasts and potential contributors.

Lack of inflation. All tokens are emitted initially.

Ripple Labs owns 61% of coins, which makes Ripple close to a monopoly.

Ripple is supported by banks worldwide, and if one day they decide to use it as a unified currency, early investors can make a great profit.

There’s still a risk of hacking — all in all, Ripple is an open-source code.

 

Ripple can freeze users’ transactions as it happened with Jed McCaleb’s XRP sale worth $1 mln. Theoretically, transaction freezing is against Ripple’s principles.

Bottom Line

So, can Ripple reach the 100 USD price? We never know how high can Ripple (XRP) can go. However, the numbers cannot be ignored: for the price to get to $100, the company should reach vertiginous heights.

No matter what, Ripple still remains one of the most attractive cryptocurrency investments in 2018. It is surviving in the current cryptocurrency market fever, and Ripple Labs are tight-lipped about their project. With substantial support from governments and banks, it can depose Bitcoin from the throne and turn into a versatile means of international transfers.

However, if the newly released XRP is sold to banks, getting it on the exchange market will be quite a challenge for regular users — deficiency can make XRP prices soar. Therefore, investing right now is the best decision you can make, but remember that you should invest only what you can afford to lose. In cryptocurrency, no one can give you any guarantees.

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How Many People Own Bitcoin and How They Use BTC?

📚 Wikicoin
Millions of people use Bitcoin daily all around the world. Do you know how they are distributed?
How Many People Own Bitcoin and How They Use BTC?
Contents

 

At the moment, it is estimated that there are 23.7 mln Bitcoin addresses. This is about 0.31 percent of the total population. Also, if we factor in the fact that Bitcoin users usually have more than one address, the number of unique active users decrease further.

Remember Satoshi Nakamoto, the father of Bitcoin? He is definitely proud of his ‘son’ at the moment. It was said that his account contains 980,000 Bitcoins, translating to $15.2 bln. Impressive, right?

We also found out that about 96 percent of the total amount of Bitcoin is owned by just four percent of the addresses listed. Here are other statistics that might interest you.

  1. 457,000 addresses have more than $10,000

  2. The top 100 richest Bitcoin addresses have over $19 bln between them

  3. Over 500,000 Bitcoin.com wallets have been downloaded

  4. Bitcoin manages over 12,000 transactions per hour

  5. 99,000 Bitcoins are sent hourly.

Despite all these, why do you think people scarcely use Bitcoin?

Reasons why people don’t use Bitcoin

The following are the top reasons why people desist from using Bitcoin. They are ranked in order of popularity.

  1. Bitcoin is complicated and difficult to understand

  2. It is difficult to use

  3. People believe it is a scam

  4. The fees required are too many

  5. People are just disinterested in the venture

  6. They believe it’s a bubble

  7. The risks involved are too high

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Finder’s survey on how many people use Bitcoin

Finder set out to understand the distribution of cryptocurrency among the American population. Specifically, the gender distribution statistics and interest level. They reported that 92 percent of the American populace have not invested in Bitcoin or any other digital currency and eight percent plan to invest in the nearest future.

They further discovered that 10.3 percent of those asked owned one form of cryptocurrency and 5.15 percent of these owners owned Bitcoin. The average amount of money people spent on Bitcoin was estimated to be $3,453.89.

Although it is worth noting that they only surveyed 2001 adults, representing 0.0011 percent of the adult population.

Infographics 1

Survey on how many  people use Bitcoin by Global Blockchain Business and Survey Monkey

This joint survey included 5,761 adults in America and only five percent of the correspondents own a cryptocurrency. 21 percent claimed that they were considering investing in cryptos.

LendEDU’s survey on how many people use Bitcoin

LendEDU surveyed 1,000 individuals and gleaned that 13.99 percent of this survey participants own Bitcoin. Another 17.18 percent had intentions of investing in bitcoin in the nearest future.

Who uses Bitcoin more?

Male or females? Millennials or generation X? Who uses Bitcoin more and how many people use Bitcoin in the different categories? Let’s look at the results of the survey.

Combining the data from Finder, LendEDU, and Global Blockchain Business and Survey Monkey, the following conclusions were drawn.

  1. Men generally invest in cryptocurrency more than their female counterparts.

  2. Millennials invest more compared to members of generation X.

  3. Those who are considering investing in cryptocurrency outnumber those who have made an investment in the digital currency.

Who uses Bitcoin more?

Global active usage of Bitcoin

In 2017, a study was conducted by Cambridge Center for Alternative Finance and it was reported that the current number of unique active users of cryptocurrency wallets globally is between 2.9 mln and 5.8 mln. This is rather shocking considering the following stats:

  1. Over 22 mln Bitcoin wallets have been created around the globe.

  2. Coinbase, the leading exchange in the world of cryptocurrency has over 13 mln users

  3. Blockchain.info has 18.5 mln wallets

But then, we need to understand that Cambridge’s data was targeted at active users, not those who hodl cryptocurrency. The study employed data from over 100 cryptocurrency companies. These companies are located in 38 different countries, capturing 75 percent of the Blockchain industry.

So now, we can go on to note the other details provided above.

Global active usage of Bitcoin

22 mln Bitcoin wallets

The data was compiled by Bitinfocharts and it was seen that many of the wallets likely belong to the same person/group. This is because most Bitcoin users likely have several Bitcoin wallets and they use these different wallets to keep the nature of their transactions discreet and private.

It could also be attributed to the fact that they use different wallets for different reasons. For instance, some have a dedicated wallet for shopping online. Others have a wallet for keeping their Bitcoin safe (especially if it is a tidy sum). Yet some others have wallets for receiving payments online. In case you’re wondering how this is done, you can check up our post on how to receive Bitcoin payments in your store.

How many Americans own Bitcoin

From the data gleaned from the survey carried out, we learned that approximately five percent of the participants possess Bitcoin. Although the survey wasn’t weighted and the number of correspondents isn’t in tandem with the total population of Americans, we can still use it to get an idea of the total population of Americans who invest in Bitcoin.

Extrapolating the data, we find that about 16 mln Americans have exchanged their US dollars for the cryptocurrency we all know and love. Also, we can surmise that 60 percent of the total population have heard about Bitcoin.

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Bitcoin usage in other countries

The trading volumes in countries all over the world suggest an upward trend in the adoption of Bitcoin. The rise is particularly evident in South America, with countries like Venezuela, Brazil and Colombia leading the chart.

Africa is currently in hot pursuit, with countries like South Africa, Ghana, and Nigeria blazing the trail. Using 2017 as a case study, between January and November, the number of new users trading bitcoin through eToro increased by 671 percent compared to 2016.  
 

Bitcoin usage in other countries

How many people use Bitcoin compared to how many people use other means of payment?

Truly, Bitcoin is now a force to be reckoned with globally. However, how does it fare relative to other digital payment methods? Here’s an insight.

PayPal has over 235 mln active users, MasterCard boasts 604 mln active users globally, with 35.7 mln being American. Visa, on the other hand, has over one bln active users. When we compare this to the number of people who use Bitcoin actively- between 2.9 mln and 5.8 mln, we realize that there’s a long way to go.

Without a doubt, Bitcoin has come a long way in such a short while. Early investors are smiling to the bank and it is predicted that the trend will continue long into the future. However, compared to other existing payment methods, a lot can still be done.

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WikiCoin: What is Bitcoin

📚 Wikicoin
Bitcoin is the fountainhead of all cryptocurrency, and it still dominates the market after 10 years and dozens of newcomers.
WikiCoin: What is Bitcoin
Contents

Bitcoin is the original cryptocurrency. It represents the very first implementation of cryptography for securing electronic payments. Most other coins are based on or inspired by Bitcoin’s Blockchain technology.

Bitcoin, the fountainhead of all cryptocurrency

The word “Bitcoin” refers both to the code that represents a digital measure of value – the “coin” – and the distributed network that maintains a ledger of all transactions and balances.

The Bitcoin network enables the transfer of funds directly between users without relying on a third party mediator like a bank or a payment company. There is no physical Bitcoin currency. All bitcoins are produced, transferred and held electronically by participants of the Bitcoin network.

Where does Bitcoin come from?

In 2008, an anonymous developer (or group) using the pseudonym Satoshi Nakamoto published a paper describing an electronic payment system that could be made secure with cryptography.

Subsequently, a group of software developers, inspired by this paper and guided by Satoshi Nakamoto through online communication, created protocols for the network’s operation. Although there is plenty of speculation, Satoshi Nakamoto’s true identity remains unknown.

New bitcoins are continuously produced by computers around the world through extremely complex and energy intensive mathematical calculations. The maximum number of bitcoins that can be produced is set to 21 million.

How is it different from regular money?

While Bitcoin doesn’t exist in a physical form, it can be used to pay for goods and services electronically, much like traditional digital money — dollars, euros and other fiat currencies stored in our online bank accounts. The ways in which Bitcoin is different, however, is what makes cryptocurrency such a revolutionary innovation.

  1. It’s decentralized.

The Bitcoin network is maintained by the collaboration of coders and computers around the world. There is no single centralized institution that controls it or owns it, meaning that it can’t be shut down or regulated unilaterally.

  1. It’s limited in supply.

Centralized currency value can be manipulated by banks. Bitcoin supply is pre-set by its algorithm — it will be produced at a diminishing rate until 21 mln Bitcoin is reached. Because its supply will not change, its value will increase as demand grows.

  1. Transactions are transparent and immutable.

Bitcoin transactions are identified and validated by the Blockchain protocol without the need for a third party or the user’s personal identity. Instead, each user is identified by the address of their wallet. That being said, the progress of each transaction is also visible to all users of the public ledger and once recorded, transaction data can’t be deleted, reversed or modified.

  1. Bitcoin can support microtransactions.

Bitcoin is divisible to one hundred millionth — a unit called the satoshi. This means that unlike traditional digital money, it could be used for online micropayments, something that could be a powerful disruptor to online media and marketing industries.

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10 Bitcoin-Friendly Countries That Legalized Cryptocurrency

📚 Wikicoin
Bitcoin’s growing acceptance has created a list of countries that are proving to be early adopters of new technology.
10 Bitcoin-Friendly Countries That Legalized Cryptocurrency
Contents

The Blockchain is a massive leap in technology that has left regulators playing catch-up. Much like other technological advancements here, most lawmakers are far behind in terms of defining the legal structure around which Blockchain-enabled solutions can work.

Let us first spend a little time defining the problem lawmakers face.

The lawmakers’ dilemma

Traditionally money is issued by the central bank and it has a strong backing in terms of gold/foreign exchange which keeps its value. The advent of Blockchain technology has made it possible for people to get access to currencies which are not issued by the central bank.

The robust and decentralized nature cryptocurrencies also make it difficult to link it's to an owner as required by regulators. In simple terms, it is difficult to identify criminal transactions.

This is giving lawmakers sleepless nights. While some simply block any use of cryptocurrencies by legislating against it, others noticed the value in Blockchain technology and are supporting it with the proper legal framework.

What is the need for having a cryptocurrency?

In simple terms Bitcoin’s decentralized network allows users to transact directly, peer to peer, without a middleman to manage the exchange of funds. This makes it a very affordable way of transacting as against the legacy banking network.

Bitcoin increases system efficiency and enables the provision of financial services at a drastically lower cost, giving users more power and freedom making it safer, simpler and more robust.

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The Bitcoin network is also a system where data is owned users and not by a company or government putting a lot of control in the hands of the users and taking it away from companies. This is important as more and more cases of data misuse are getting highlighted on a regular basis.

We will focus on which countries accept Bitcoins as a legal mode of transaction in this blog post.

Bitcoin popularity by countries

A cryptocurrency is just one of the ways of transacting in a marketplace. The acceptance of such a system is dependent on many factors including Internet access and societies recognition of digital payment modes against physical currency.

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Many countries have shown willingness to accept the innovative technology that Bitcoin brings with it. There is no standard way of ranking the acceptance of cryptocurrencies, we only highlight the nations (in random order) that allow its use in regular financial transactions and where people have started using it regularly.

The leading countries that have had a pro-Bitcoin structure are:

-      United States of America

-      Canada

-      Australia

-      Select countries of the European Union

A few countries like Belarus have taken the lead in identifying Blockchain technology as a driving force for future innovations and have enacted a law enabling set-up of cryptocurrency-hubs. According to an official press statement,

“Alexander Lukashenko, the President of Belarus, has signed a Decree on the development of the Blockchain-based digital economy, which also implies the official development of cryptocurrency payment acceptance, mining and trading”.

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Moreover, tax privileges will be introduced for transactions with cryptocurrencies.

Taking a deeper look, we can list the following 10 countries as the most Bitcoin-friendly countries as of today:

1.     Estonia

2.     The US

3.     Denmark

4.     Sweden

5.     South Korea

6.     The Netherlands

7.     Finland

8.     Canada

9.     The UK

10.  Australia

All of these countries now have Bitcoin ATMs and even regular businesses in these countries have started accepting Bitcoins as a mode of payment for goods and services. The legal framework is supportive of the new developments and some countries even provide tax breaks for people using cryptocurrencies.

The push for Bitcoin is also supported by government efforts involving reduction of physical cash-based economies.

Many countries are trying to become 100 percent cashless societies. Select countries in the EU have given Bitcoin a value-added tax-exempt status by classifying it as a financial service. This is speeding up the adoption of such robust and decentralized payment methods in these pioneering countries.

Many countries like Denmark, Sweden and the US allow Bitcoin to be used on exchanges and even on the derivatives market. This is leading to cryptocurrencies being more widely accepted in financial institutions and by the public.  

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Countries leading the Bitcoin revolution

The United Nations Sustainable Development Solutions Network publishes an annual report called the “World Happiness Report.”

The report ranks 156 countries across six factors including GDP, life expectancy, social support, generosity, freedom, and corruption. We believe that sustained reduction in factors like corruption can lead to growth in happiness the world over.

Now, what is the link between happiness or corruption and Bitcoin? The traditional systems in the world gave power in the hands of a few centralized. This is also a source of corruption and in turn unhappiness.

Technological advances like Blockchain are making the world decentralized giving people control over their data and thus giving more freedom to the masses. In our humble opinion technological breakthroughs like the Blockchain have the potential for reduced centralized control and cost of doing things making more stuff available and affordable to people and thus grow happiness in the world.  

It is not surprising then that the UN report on happiness and the top 10 countries adopting Bitcoin have a lot in common.  Actually, as many as six countries feature on both the list. These countries are:

-      Finland

-      Denmark

-      The Netherlands

-      Canada

-      Sweden

-      Australia

These countries are defining adoption of technology, they are giving greater control and freedom to their citizens and are mostly corruption free. Thus, the high happiness factor.

The world is still waking up to the possibilities of the Blockchain, regulations have a lot of catching up to do and we are quite sure that technology will continue to move much faster than regulation.

Although Bitcoin is now almost a decade old, countries still do not have explicit systems that restrict, regulate, or ban the cryptocurrency. Most countries are still analyzing ways to properly regulate cryptocurrencies.

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Overall, Bitcoin remains in a grey area as laws are still not there. To top this all off, there is a lot of noise around the value of the currency which is generating speculation and negative interference from regulatory agencies.

We believe this to be a passing phase, as more and more people understand the strengths of Blockchain more countries will come forward and accept cryptocurrencies as a legal and required mode of transactions in their marketplace.

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Best Cryptocurrency to Mine: What Cryptocurrency to Mine in 2018?

📚 Wikicoin
The world of cryptocurrency opens new opportunities for tech-savvy users
Best Cryptocurrency to Mine: What Cryptocurrency to Mine in 2018?
Contents

Remember the gold rush in the 19th century when millions of people migrated to America at a breakneck speed to mine the precious metal? Those times are over, but today humanity is chasing another craze- cryptocurrency mining.

Did you know that cryptocurrencies still can be mined with a usual computer or home GPU? Let’s observe the most promising crypto coins that be obtained at home via your laptop, PC or a special mining GPU.

While deep-pocketed Internet users are investing heavily into generated virtual coins, others decide to mine crypto using their computers, graphic processing units, and even smartphones. Want to join their rows? Let’s find out what is the best cryptocurrency to mine using technologies at your fingertips.

What is crypto mining?

To put it simply, crypto mining is processing of transactions with different forms of cryptocurrency: they are verified and added to the blockchain’s digital register. Every time a transaction is completed, a crypto-miner needs to ensure the authenticity of data and update the blockchain with this transaction. Crypto mining presupposes competing with other miners to solve difficult mathematical problems with cryptographic hash functions to update the data in the Blockchain.

The crypto-miner who cracks the code first is rewarded: he or she can authorize the transaction and earn a small amount of cryptocurrency of their own. In order to stay competitive, a crypt miner needs to have a powerful computer with special hardware tailored for mining.

If Bitcoin used to be the best cryptocurrency to mine until July 2017 or earlier, today you need very expensive equipment to obtain the coin. So if you want to start mining without breaking the bank, put a heavy focus on altcoins- some of them still can be mined with the help of a usual CPU or GPU.

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How to mine cryptocurrency?

Back in 2010, you could easily mine Bitcoins with your Pentium 4, but modern requirements to mining have soared. In fact, the best way to mine cryptocurrency is to organize a mining farm, i.e. a datacenter that is technically equipped with advanced CPUs, cooling system, and power supply to mine crypto. However, it will cost you an arm and a leg, so let’s observe alternative ways:

  • A CPU in your computer. More or less powerful laptops are able of sophisticated computations and can be used to obtain some kinds of altcoins.

  • A smartphone still can be used to mine crypto! For instance, ETN (electroneum) currency was designed to attract numerous smartphone users to cryptocurrency adoption.

  • A GPU (graphic processing unit) is a special processing device, that’s also called a “mining ASIC chip”. Its price varies from $100 to $3,000, but it can be way more efficient than the above-mentioned methods.

  • Cloud mining means you lease equipment in a data center for a certain fee and get crypto instead. That’s the most optimal choice for those who don’t want to exploit their own technical facilities for mining.

If you realize your PC isn’t strong enough to mine properly, you can do it collectively with other Internet users. Join the best cryptocurrency mining pool (like Slush, BTC.com, 21 Inc) and unite with people alike to reach better processing efficiency.

If you realize your PC isn’t strong enough to mine properly, you can do it collectively with other Internet users

The best cryptocurrency to mine 2018

Experts claim that Bitcoin isn’t the best cryptocurrency to mine anymore– too much processing power is required at miner’s end. However, there’s a myriad of altcoins that you can get using the devices at your hand. What is the best cryptocurrency to mine at home? Here are some considerations.

The best cryptocurrency to mine with CPU

You can get these coins by simply installing and running special software on your computer of the laptop:

  1. Dash (DASH) is an open sourced currency that allows for instant transactions. The main reason to mine DASH is that it private, safe, and can be used to make real purchases.

  2. With Steem, the process of mining is completely different. This is a Blockchain-based platform where rewards and votes are transformed into crypto. Therefore, contributors can earn the virtual currency instead of using their computer to mine it traditionally.

  3. Litecoin is a P2P currency that also enables fast payments globally. It has quicker confirmation rates than Bitcoin, better storage efficiency, and a reliable support. If you want to work with valuable and promising coins, Litecoin is the best cryptocurrency to mine now.

  4. Bytecoin is another hit: its cost rose by 5.600 percent in 2017! The currency is based on the CryptoNote protocol and allows for anonymous P2P transactions. It can be obtained with the help of Xmrig software that’s available in two versions– for GPU and a simple PC.

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There are numerous altcoins you can mine on your PC.

Best cryptocurrency to mine with GPU

If you purchase a GPU for mining, you can try getting more valuable coins. Which of them deserve your attention?

  1. Monero (XMR) was the best cryptocurrency to mine in 2017 with GPU as it witnessed an exponential growth. This is a cryptocurrency for anonymous transactions that’s considered to be one of the most well-established coins today. Official website recommends installing MonersSpelunker on your GPU for mining XMR.

  2. Ethereum, the second biggest capitalized cryptocurrency after Bitcoin, can still be mined via GPU or CPU. It is highly valuable due to the “smart contracts” it implements, as well as safety and speed of transactions. In the last year, Ethereum’s price raised by 200 times, and only continues growing. One of the most convenient and efficient GPU solutions for Ethereum mining is Ethminer.

  3. Electroneum (ETN) was launched in September 2017, and the advanced CryptoNote algorithm it uses can make it one of the most promising coins in 2018. In fact, you can mine ETN with almost any device. For Nvidia GPU, install XMR-STAK 2.2 miner.

Bottom line

The world of cryptocurrency opens new opportunities for tech-savvy users: they can make money with minimal effort letting their computers and GPUs do the job. But before you rush to install mining software on your device, figure out which cryptocurrency is worth putting money and effort into.

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A Day and Night Difference or Nothing Special? Ethereum Futures Are Coming Soon

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The Chicago Board Options Exchange has announced that it would soon launch Ethereum futures on the Gemini platform
A Day and Night Difference or Nothing Special? Ethereum Futures Are Coming Soon
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The implementation of Ethereum futures is on the horizon: the CBOE will launch them a year after Bitcoin futures offering. How will it affect Ethereum’s value?

It’s been less than a year since the first futures contracts with Bitcoin were concluded, and Ethereum might be the second cryptocurrency to be included in regulated futures exchanges. This is going to be possible thanks to the CBOE (Chicago Board Options Exchange), the platform that launched Bitcoin futures in December 2017, who is anticipating the approval of the Commodities Futures Trading Commission (CFTC) in order to introduce Ethereum options in December 2018. What does it mean for the cryptocurrency market, and what changes can we witness afterward?

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The future of Ethereum: general predictions

At the moment, we’re facing a serious Ethereum fall: its price has nosedived to $203, and it doesn’t seem like Ethereum’s value is going to be growing in the nearest future. However, it’s not the time yet to be writing Ethereum’s eulogy: its team is set to give Ethereum a boost by introducing a Proof-of-Stake protocol. Vitalik Buterin promises to make Casper technology more user-friendly with the following Proof-of-stake advantages at hand:

  • It’s more energy-efficient.

  • It’s even more decentralized.

  • It offers better financial scalability.

Vitalik Buterin also notes that both PoS and PoW can be united. Better availability and more advanced dApps may also drive ETH future price growth.

Proof-of-work and Proof-of-stake protocol differences

What does Ether news say?

It is said that the ETH contracts from CBOE will be based on the Gemini cryptocurrency exchange market, which is already used for Bitcoin futures. In June 2018, the United States Securities and Exchange Commission (SEC) formally declared that Ethereum is not classified as a security, which paved the way for futures ETH contracts.

“We are pleased with the SEC’s decision to provide clarity with respect to current Ether transactions. This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017.”

CBOE president Chris Concannon.

Since there’s a high demand for Ethereum, futures launching is a justified decision. Besides, the CBOE possesses the product design layout and ready structure left from Bitcoin futures, so this time, the task will be easier. It’s not clear when exactly the Ethereum futures will be available to the world: the CBOE is expected to provide an exact date a little ways down the road. But what outcomes will it lead to?

It is believed that launching ETH futures on the US-regulated exchange market will trigger a wider trading in the crypto world and an unprecedented rise of institutional interest. The crypto futures products will allow traders to get outside the frames of exchange platforms.

Some specialists claim that mainstream adoption of crypto futures will influence the future price of Ethereum. As soon as CBOE triggers the process, other institutions won’t be harnessed even by growing cryptocurrency prices. For example, the Wall Street is already trying to establish the bridge to the crypto market knowing that the launching of Ethereum futures will be a great catalyst for cryptocurrency adoption.

“Crypto prices are correlated strongly with each other. So anything that’s good for Ethereum should be good for Bitcoin and vice versa. So far, the futures volumes on Bitcoin have been relatively small and insignificant to the rest of the market, but as interest from institutional investors changes, we should be seeing higher volumes and new ways to trade them.”

Mati Greenspan, market analyst.

But while Greenspan’s predictions are quite positive, some experts’ opinions are contrary to this assertion. For example, Phillip Nunn, CEO of Wealth Chain Capital, says there’s a possibility that bears can start shorting Ether, which may have negative consequences for the companies that establish Ethereum-based ICOs. Since the Ethereum market cap is lower than that of Bitcoin, it can dip under $150 or even $100. So, if an ICO that has gathered funds in Ethereum suddenly loses 50% of its market cap, it will trigger the panic sell to BTC or fiat currencies by these companies who will surely want to protect their own interests.

The coin has two sides

What is bad for Ethereum may be good for Bitcoin. Tom Lee, the managing partner at Fundstrat Global Advisors, is certain that Ether futures will take a negative toll on the market. Making an analogy with Bitcoin futures, he claims that Ether $203.411 +0.01% may follow the same development path. But what underlies this assertion? Lee is basing his predictions on the way futures asset trading is organized: traders can bet on the price fluctuations without having to own the currency. Therefore, bears will have the opportunity to short Ether. That will consequently relieve pressure on Bitcoin.

However, it should be noted that:

  • Bitcoin futures are cash-settled, e.g. the underlying asset isn’t transferred.

  • Futures market accounts for a minor chunk of cryptocurrency supply.

Therefore, Bitcoin futures do not have much direct impact on Bitcoin’s value, which, in turn, means Ethereum’s price is unlikely to be conditioned by its futures release either.

So, what will happen to Ethereum next, and how will it affect crypto development?

Innovation

Consequences

Proof of Stake Validation

Faster transaction speed

Lower fees

Widespread Ethereum adoption

Active development of dApps

The popularization of Ethereum Blockchain

Availability of Ether in stores

Ethereum becomes an international currency for international transactions

Ether discount instead of massive adoption

Creation of an Ethereum-based social network

Tokens can be used in the social network to pay for media, time spent, etc.

What is ETH future price prediction?

In fact, it’s hard to make any exact predictions. The price of Ethereum is more likely to be conditioned by US dollar fluctuations and an increase or decrease in ICO token utility. The future of Ethereum is still in the hands of individual traders as Ethereum futures are not what influences the price.

Ethereum price predictions 2018

Bottom Line

Meanwhile, the introduction of Ethereum futures is around the corner: the CBOE should make an announcement soon. Ethereum will definitely continue to evolve; this is an essential smart contract for dApp development which provides the whole gamut of useful tools. This Blockchain boasts legitimacy, technical supremacy, and high flexibility. As soon as the new technological advances of Ethereum get leveraged by businesses and go public, the currency will rise in value. Investors are recommended to trim the sails to the wind and bet on it, even if it stays on the current course.

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