Weekly Toilet Thoughts: Best Cryptocurrency to Invest in 2017

Many people will always ask me what is the best cryptocurrency to invest in 2017. There is thousands to choose from but only around 20 will actually be a success long term.

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I had a thought the other day about what investment will be my best over the next five years. If I was to forget about it all and come back years down the road would crypto be dead or makeup 5% of the Forex market. I’m what is known as a ‘Hodler’ so I don’t ever trade but I do pound the table when discounts happen.

We are seeing a great discount right now in prices which I love. I start scooping up assets by the hundreds in tokens because my risk is smaller than buying at the top. ┬áSo let me get to what tokens will succeed…

Number One:

My favorite investment by far is Ethereum which makes up the bulk of my portfolio. For some other people, it is Bitcoin but those two cryptos are the least volatile. The reason is they have more support and money trading in comparison to a random ICO. I look at address growth everyday on Etherscan and that confirms to me that the Ethereum blockchain will be huge. Additionally, new coins are being built as ERC20 which show support for Ethereum.

best cryptocurrency to invest in 2017

Number Two:

Another prospect I started buying at $6 was OmiseGo. I wish I would have loaded the boat more than I did at the time but it was when I was just starting to dip my feet into other assets than Ethereum. I will also get the airdrop money because I owned Ethereum when the block happened.

best cryptocurrency to invest in 2017

Number Three:

I think it is important to have some money in your portfolio go toward an asset that has a debit card behind it. This is really the future because it allows people to spend the crypto they accumulate. My choice was to buy TenX because I like their iphone app so far and the team is strong. But there is other choices which include Monero or Monaco. I choose TenX over these two because they are positioned better and have a huge card company working with them. They haven’t revealed the name but it looks promising.

best cryptocurrency to invest in 2017

Now remember that the nature of crypto will probably make your stomach twist and turn day to day. It is not an easy industry to be in but nothing is when it is just starting out. The reason you will stick out the hard falls is because you know that there is more value in the asset than any short term thinker can see. If you stay with it you will be one of few that actually makes it long term.

Many people ask me why I don’t short on these pullbacks and the answer is because its absurd. Why would you short an asset that has value long term? It has skew to the upside and can go down near term but eventually shorts will get caught off guard by a huge squeeze. They will only get burned out of the market over time.

I learned this lesson the hard way in the stock market. I went short the market with all I had in 2015 and it worked for awhile until it didn’t. So now I just hold and average down when I see discounts. By doing this, I have made way more than I could have imagined any other way.

 

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