Lets Explore Crypto Currency (January 2018)

The rising popularity of crypto currency has spiked the prices! Everyone is throwing their money at a chance to double up.

If you try to invest now you have two options. Buy a popular coin like Bitcoin, Ethereum, or Ripple. Or buy one of the many 1000+ others out there.

What makes a good crypto currency to buy?

LOW FEES!

- Check out the average transaction fee for the coin. Higher transaction fees will not be popular with companies who will start accepting them.

FAST CONFIRMATIONS!

- No one likes waiting for updated balances. The faster the transaction, the better. Consumers want to these to be nearly instant or at most a few seconds.

OPEN SOURCE!

- Having open source code can assure the vulnerabilities can be found and addressed. A flaw in the code can ruin the entire coin for everyone.

TIME!

- As time goes on, it becomes evident that a coin has proven security and trust within the owners.

ACTIVE DEVELOPMENT!

- If developers are heavily involved with updating and new innovations we can expect it to reflex better on the coin. Good development will follow with a nice website, nice wallet, and good FAQ support.

MULTIPLE ALGORITHMS!

- Better coins will have this and it will help as more efficient ways of processing become available. It may also have an impact on limiting a single entity controlling the network if they have 51% processing power.

When should I buy? Probably went Bitcoin first was created, right? As of January 2018, there seems to be a crypto craze going on still. Between October 2017 and January 2018 there was a huge spike in many crypto currency. With that being said, most of those currency's are probably overvalued right now. Maybe it's best to "invest" (gamble) in an alt coin right now.

You can't buy too much with your coins, maybe other coins. Wouldn't it be great if sites like Amazon.com started accepted all the currencies? Would you want to pay a $10 transaction fee with certain coins when purchasing items online?

Personally I don't like the price volatility with coins but rather a more consistent price. Not for investing, but that way companies and consumers won't be afraid your $10 toilet paper box won't cost $1 or $100 tomorrow.

Have a different opinion? Post in the comment section below! Maybe we can revisit the topic in a few months to analyze the trends.

-Audrey Nicole