It's barely noon and already it's been a big day for digital currency. Ethereum passed Bitcoin in trading volume — a move prompted by investor confidence in China.
Investors are on the edges of their seats. Big things are stirring, and this has many people clinging or adding to their original investments.
But Ethereum's growth actually marks a great time to diversify your digital currency assets.
As Ethereum skyrockets, more and more people are becoming aware of digital currency.
This means more investors are flooding the market. Novice investors are gaining experience, and with that experience comes a more diverse investing approach. Other currencies will soon benefit from Ethereum's fame.
Today, there are dozens of promising digital currency opportunities that you can buy for less than a dollar. Some investors have chosen to invest through initial coin offerings (ICO). And though ICOs are often lucrative, they require you to take a bet on an unproven technology.
This is why many investors have chosen to stay with the established digital currencies like Ripple, which you can still get for under $0.50.
What Is Ripple?
Ripple isn't a newcomer to the digital currency market.
It was developed in 2012 by the CEO and CTB of OpenCoin, a venture capital-backed currency payment system. Most of the developers behind Ripple also worked with Bitcoin. This gives Ripple a unique edge against its peers, who often come from inexperienced development groups.
Ripple hasn't had a phenomenal week. Ethereum dethroned the currency from its spot as the second highest market cap. Then it plummeted alongside other digital currencies on Friday.
This isn't surprising. Nor is it a reflection of Ripple's underlying potential.
It just gives investors a chance to get in at a low price.
In yesterday's Ethereum update, I talked about how Bitcoin influences other altcoins. And how investors tend to sell or move between coins when certain currencies falter.
But investors shouldn't move out of Ripple. Like Ethereum, Ripple has a unique function that gives it long-term potential.
Remember, in the digital currency world, there are hundreds of potential winners.
It doesn't have to be Ethereum or Bitcoin. So, it's wise to pad your portfolio with dozens of promising technologies.
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