Top 10 cryptocurrencies all-time high prices
At present, there are at least a thousand plus cryptos available in the marketplace. On the market site CoinmarketCap.com we have more than 1500 cryptocurrencies listed. Cryptocurrency hit an overall market cap of $845 billion at one point, with the value having gone up by leaps and bounds as prices soared.
As at January 2018, an all-time high price list for the top 10 cryptocurrencies stood as follows:-
Since then the prices have fluctuated significantly and the current values with most of the above cryptos are less than half of their above values. The overall market cap at the moment is about one third of the above all-time high.
Nonetheless, investing in cryptocurrencies today could be ensuring a rich tomorrow, as they gain more acceptance and more traction in business world and with people.
What are the available cryptocurrency business opportunities?
If the market continues to hover near new lows, it is an opportunity you can seize to make an investment. There are a number of ways you can approach the market and make a dollar for yourself. The key is to focus on the ones that are likely to give you a good ROI. The top 10, for example, offers exciting chances.
Overall, whatever your selection, the business you go for will fall under one of the under-noted categories:-
Let us examine each of these cryptocurrency business ideas individually:-
Cryptocurrency investment business
In this business model, you buy cryptos at the price people are willing to pay for and expect to sell it for even more after a while. There are two major competing forces at play in determining the price of cryptos. One is speculation whereby cryptos are bought on the belief that their prices will appreciate rapidly. This has worked fairly well and attracted more players who fear to be left behind. The second force is supply. The emergence of new coins or mining of new ones means that there will be sufficient supply of cryptos available for trading thus moderating the prices and making the investment sustainable.
Cryptocurrency exchange and trading
In an exchange, you can operate either as a market maker or a market taker or trade as both. Market makers provide liquidity to the market and their charges a relatively smaller fee by the exchange. Market takers take away liquidity from the market and are charged slightly higher fees than the makers. Either as maker or a taker, here ways to make money in an exchange:-
• Buy and Hold (HODL) - This is where you have speculated that prices are likely to go up and you simply buy and hold on to your purchase. It is risky but can pay off handsomely. If you hold and prices plummet, continue to hold until things look up again to minimize any possible losses.
• Market making - This is a strategy applied by traders who essentially just buy and then sell crypto from other traders. By doing so, you provide liquidity that is vital to the market. The beauty of it is that you make money whenever the price of a crypto goes up and when it goes down. Every trade for you becomes a money making project.
• Active trading - This is trading by use of other tools like bonds, futures and options to provide the tradeoff between risk and gain with a certain degree of accuracy. Another tool that can be employed is arbitrage. This is trading the same coin on different exchanges and making money from the difference in prices, e.g. buying at $1 and selling at $3 on another exchange platform.
It is possible to make money in ICO business depending on the ways funds raised are used and invested. Assuming both conditions are met, making money through ICO is easy. You enter the market during the inception stage and get cheap-priced tokens. You later cash in by selling at a much higher price. Before choosing to invest in an ICO, ensure that it has a working product so that tokens can be put into use immediately. Also, ensure that the tokens are not ridiculously over-raised and have a maximum cap.
Cryptocurrency lending business
This model is especially feasible for newbies who are hesitant to venture into unchartered waters. A trader borrows money from others at interest and sells at the same prices. When the price falls, the trader buys back at the low prices and returns to the owners. The difference is the profit, and the lender of the money gets their interest, and it becomes a win-win situation.
Cryptocurrency mining business
This was the core way to earn digital currency when the industry came up. The idea of mining pops up an impossibility mental picture that mining can only be undertaken by a technical few. Fortunately, the reality is different. All that is required is a strong computer and mining software. Once these have been installed, mining is in progress. You can then sell your coins when prices double up, or markets reach new highs.
All the above business opportunities of making money using cryptocurrencies mean that with efficiency in operations, the industry has not seen any high profits yet. The potential to break records will be repeated over and over again, and so we have not witnessed anything from declaring their potential to make an all-time profit.
Last update: 18. April
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