Choosing the right Altcoin to invest in

in #bitcoin7 years ago

It is a very exciting, albeit confusing space as we get mixed messages about Cryptocurrency almost daily.
An example of the spectrum would be the amazing gains of the Ripple Altcoin (XRP)
It outstripped all coins including Bitcoin by a huge margin and if you were lucky enough to catch the ride, the return was a staggering 36,000% Pretty amazing when you consider the returns on traditional investments like gold which returned a relatively respectable return of 13%
At the other end of this spectrum, we get high profile investors like Warren Buffett saying that this environment is a "bubble" and will eventually crash and burn. My personal approach is to put aside financial gain as a primary reason to buy a particular coin and focus more on what the vision of the team behind the project are trying to achieve.
A good example might be the Australian-based PowerLedger company with their associated coin, POWR. They have returned healthy gains since inception in 2017, however the bigger picture is their attempt to democratize energy distribution by allowing people with solar installations to sell their excess power to other folks via the blockchain. Chasing huge returns on Altcoins may involve a fair bit of luck, as early investors in Bitcoin some seven years have found. Sometimes though, it is not all about the money, but what a project can mean for the wider community.

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