With over 1,500 cryptocurrencies jostling for investors’ money it is not easy deciding on promising coins to invest in. Despite the volatility of the cryptocurrency market, altcoins backed by interesting projects are always presenting great investment opportunities.
The problem becomes how to spot the cryptocurrency to invest in that will be profitable. This becomes even more of a challenge for the ordinary investor.
Considering the markers for promising cryptocurrency projects, Nano (NANO) and Binance Coin (BNB) are the two best coins for medium-term and long-term holders to consider in 2018.
Why invest in Nano (NANO)
Rebranded from Railblocks in January, Nano aims to be the go-to payment processing platform in the industry. The features of Nano would guarantee its value continues to grow alongside its ecosystem making it a good investment.
Nano is designed for real-world application—that is, it provides solutions to existing day to day problems.
It offers instant transactions. Not only are transactions on the Nano network fast, they are also free; the platform supports zero transaction fees.
Interestingly, Nano has infinite scalability by protocol. However, current hardware capacity, it can handle over 7000 TPS. Also, it has no block size challenges.
These features which make Nana an ideal payment platform are not the only reason it is expected to become a profitable investment.
Nano boasts an active team and growing community. The community is always kept engaged through social media and blog updates. Apps compatible with Android, iOS, Windows, Mac, and Linux are available to store Nano and access services.
Nano compares favorably against other top cryptocurrencies. Read this article about why Nano (NANO) is a safer investment than Litecoin (LTC).
Nano Price Watch
Nano is ranked 36 by Coinmarketcap with a total market capitalization of $391,840,579, having gained 6 percent in the last 24 hours. The price of NANO at the time of writing is $2.94.
Why invest in Binance Coin (BNB)
Binance Coin (BNB) is the native coin of Binance cryptocurrency exchange, one of the biggest exchanges there are. BNB tokens were introduced courtesy of an ICO.
Binance Coin is basically designed to power the Binance platform; they are used to pay transaction fees for trading on the exchange. Discounts or bonuses on the platform are also issued in form of BNB tokens.
Binance exchange is currently the largest by market cap on CoinMarketCap. The sheer size (and liquidity) of the exchange guarantees a level of activity around the BNB tokens. Furthermore, the exchange gives a 50 percent discount on trading fees to users who use the BNB token as an incentive to strengthen the BNB ecosystem.
More on the BNB ecosystem, Uplive currently accepts BNB for purchasing virtual gifts. Monaco Visa Card is said to support Binance Tokens too.
An interesting reason why BNB is a good choice for HODL and long-term investment is the quarterly coin burning process. Binance team agreed to uses 20% of its profits to buy back its native coin, BNB, from the open market and burn them until half of its initial 200 million coins are left in circulation. By removing the coins from circulation, the price of BNB tokens is consolidated.
Binance coin (BNB) Price Watch
BNB token is currently trading at $16.64 up by 3.7 percent in the last 24 hours. It currently has a market cap of $105,880,000 (ranked 15th on CoinMarketCap). Binance Coin (BNB) has fared well compared to other top 20 cryptocurrencies in the past week. Early in the month, the token caught an upward trend after it was paired with Ripple and Stellar Lumens (BNB/XRP, BNB/XLM). It has a total circulating supply of 114,041,290 BNB.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.