How to become rich with crypto, my top 10 crypto ideas
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Today I’m revealing my Top 10 Crypto holdings in my portfolio in order to become rich. Unfortunately, most people don’t quite understand what cryptocurrency is, how it’s used, and why it has value in the first place.
Some of the cryptos I have in my plan to become rich, were a result of chain splits, and they weren’t necessarily coins I bought by choice. A chain split is when you hold a crypto that goes through what’s called a fork, and there are two different types of forks. A soft fork, and a hard fork.
Think of soft forks as software upgrades, while hardforks create TWO separate blockchains, which are created with different rules causing what’s called a chain split into two unique coins. Their total value, is usually the sum of what the original coin was, the value is distributed depending on which chain had the most proof of work.
So here are my top 10 coins that I hold today.
#10 – DOGECOIN, the goodest of coins. Just kidding, I do NOT own Dogecoin.
#9 – Bitcoin Gold (BTG) – This is one of Bitcoin’s forks. Bitcoin Gold, ticker symbol BTG forked off the original chain because they wanted to change the mining algorithm from SHA256 which is ASIC based. ASICs are argued to be controlled by large corporations, so BTG changed the algorithm to Equihash.
#8 Litecoin (LTC) – If Bitcoin is digital gold, then Litecoin is digital silver. Litecoin is similar to bitcoin but the mining algorithm is different from SHA256. Instead, it runs on something called Script which is simpler. Unlike Bitcoin which has a maximum limit of 21 million coins, Litecoin has a higher limit of 84 million coins. Litecoin is also easier to use as a “real currency” because it can confirm transactions about 4 times quicker than Bitcoin which means more people can use Litecoin to make payments with.
#7 Dash (DASH) – a hybrid of digital and cash to make Dash. It’s another one of Bitcoin’s forks that uses a different mining algorithm to mine the coins. The coolest thing about Dash is its funding model. Dash keeps 10% of its mining profits to upgrading its own network in a democratic voting process, which means it can literally fund it’s own operation and be self sufficient, without being bought by corporate interest. That to me is a very interesting feature that’s worth speculating on.
# 6 Ripple (XRP) – Out of all the coins on this list, the story of Ripple is the most complex and it’s the coin that sees the most amount of real world use by banks. It’s mostly used to transfer huge amounts of money from one bank to another by the banks themselves. If you know anything about derivatives, perhaps we’ll see them on this network. Ripple has a solid chance of becoming a mainstay in the crypto future. My investment in ripple is a hedge, against a hedge if the current banking system wins in this race to creating a global decentralized currency.
#5 IOTA. Really interesting coin (MIOTA) does not use the blockchain like Bitcoin, instead it uses the Tangle. It’s still a proof of concept and it’s not quite as decentralized as it should be. It’s quantum computer resistant, and the most futuristic coin on this list.
#4 Bitcoin Satoshi Vision (BSV) – another Bitcoin fork, probably my least favorite of all the ones I own because the fate of this coin is too closely tied to the identity of Satoshi, I received this for owning Bitcoin.
#3 Bitcoin Cash (BCH) – The big players in the crypto space had a disagreement as to what Bitcoin was meant to be, was it a replacement for global currency? Or should it be a store of value like Gold, but digitally? The two sides disagreed and BCH split off. Each of these represents a different solution to the scaling problem.
#2 Bitcoin (BTC) – Don’t ever underestimate the honey badger. I think Bitcoin is here to stay. As the federal reserve continues to print more money, we’ll see Bitcoin as one of the best , if not the best price performing asset in the world.
#1 Ethereum (ETH) – DApps, DAOs, and so much more! Ethereum is my favorite investment on how to become rich with crypto. The smartest developers in the world love to develop on Ethereum, and that says a lot for it’s future, especially as we move closer to Ethereum 2.0 and staking instead of proof of work.
What do you think of my list? Let me know!
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