The crypto currency markets have settled considerably after experiencing significant volatility into the beginning of 2018. At this time one year ago, all the rage was purchasing any crypto currency as the surge in bitcoin shot up to a price of 19,000. It generated headlines and crypto currency billionaires. Fast forward a year and the balloon has been deflated. Investors are now looking for crypto currencies that will provide them with robust returns as the market begins to mature. Here are some of the best crypto currencies to bet on in 2019.
Some of the Newer Crypto Currencies
NEO, Stellar, and NEM, are some of the newer crypto currencies which can provide some robust investment opportunities. Neo was established in China in 2014, and was rebranded Neo in June 2017. It is a blockchain-based platform that supports its own cryptocurrency and enables development of digital assets and smart contracts.
Smart contracts will continue to be a focus as markets look for ways to certify that an item is legitimate. For example, in the United States, the National Organic Program is looking for a way to certify that items that are labeled organic are really organic. There have been multiple instances of fraud during 2018 and a crypto currency such as NEO would be ideal to prevent this type of activity.
Owners of smart contracts are able to record, buy and sell assets, as Neo provides the necessary platform for linking the physical asset with an equivalent and unique digital marking. Neo also supports the protection of assets, as assets registered on its platform through a validated digital identity are protected by law.
What is Stellar
Stellar is a network where financial payments can be arranged. The Stellar network is a blockchain-based ledger that connects banks, payments systems and people to facilitate low-cost, cross-asset transfers of value, including payments. There has yet to be a crypto currency winner in this space. Bitcoin has a huge edge, but banks have yet to move away from sovereign currencies in favor of crypto currencies.
NEM is competing directly with NEO as a smart asset crypto currency. NEM, sees itself as a smart asset that is running on blockchain technology. It also is way behind bitcoin, but the technology platform is updated and seeks to be an efficient way to manage assets and data easily and at a low cost.
While there are several new crypto currencies, bitcoin has the most market penetration and should be viewed as the benchmark. The question for traders is whether a rising bitcoin will lift all crypto currencies or can some of these new digital currencies flourish on their own. Blockchain technology is gaining traction amongst financial institutions which is a very good sign for crypto currencies. Smart contracts will also continue to gain traction as consumers around the globe look for safety and security in the global payments space.