3 Altcoin Turkeys Being Served for Thanksgiving - Global Coin Report
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3 Altcoin Turkeys Being Served for Thanksgiving

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Happy Thanksgiving everyone. Can you believe the holidays are here again? It seems like just yesterday we were readying for the great altcoin bull run of 2017. Last year around this time, Bitcoin (BTC) became a household name as futures contracts permeated the chat rooms on our social media sites. Everyone around the water cooler was discussing their new investments as the topic of cryptocurrency went mainstream. A lot has happened since then. And while many of us are still waiting for our initial investments to catch a break, new and exciting crypto-choices are presenting themselves to a savvier public.

Unfortunately, many newcomers to this wild-west of markets will get caught off guard as their investments are stripped of their packaging and the product behind the fanciful wrapping reveals a lump of crypto-coal. Like a child saddened by yet another pair of socks left under the Christmas tree, investors without experience in the cryptocurrency arena may be disenchanted with their top-picks after the hype that brought them to the table wears thin.

So as the US readies to feast with their loved ones during a well deserved holiday break, it may be a great time for all of us to look a little deeper into our crypto-investments and shake out the poor performers before the new year. After all, none of us want to get caught holding the bag for an overvalued company during the next bull run. So put down the eggnog for a minute and open up your wallets as we explore three turkeys that might just ruin your holiday spirit!

The first turkey on my shortlist of under-achievers this year is Vechain, whose token (VET) sits at just under US $.01 as I write this words. I never have been a fan of sensor tech, but this overcooked bird keeps sinking further as it’s mainnet fails to impress a new investor class.

Vechain has introduced a dual token system recently, though Vechain Thor (VTHO) cannot yet be traded on Binance. Like NEO and the GAS that users are rewarded with for hodling the NEO token, Vechain Thor is rewarded to the bagholders of the VET token. Vechain is down from highs reaching over US $8.00 under the VEN token in early in 2018.

Next on my list of stuffed birds to avoid as we ready for 2019 is ETHLend (LEND). ETHLend (LEND) started the year as an altcoin favorite of mine. Attempting to disrupt traditional banking with peer-to-peer loans based on an expanding list of ERC-20 coins, Ethlend (LEND) stood out from the pack with this interesting and lucrative concept. The dApp developed by the Ethlend (LEND) team failed to excite investors however, and adoption slowed as the market sank.

While this token showed potential at the end of 2017, the current move out of the ERC-20 market will likely intensify in the near future. And as Ethereum killer platforms make headway, Ethlend (LEND) may get caught in a negative feedback loop of their own creation. Ethlend (LEND) now sits at US $.01, down from its high of over US $.40 in January of this year.

Finally, (and I may catch some flack for this one) a top 5 crypto-turkey I am personally avoiding this year is Bitcoin Cash (in any of its derivative forms). Having caused a crypto-panic recently with its hardfork, the resulting fight between awkwardly named products leaves new investors with a difficult choice. BCHABC and BCHSV are now caught in all out brawl being played out on your favorite exchange. The result will likely be a product somewhat less popular than the original Bitcoin Cash (BCH) could have become without the infighting and disruption of the current hard fork.

What will new investors think about the newest Bitcoin Cash derivatives? I’m not sure they will think much about it at all, as more attractive currencies make their way into the forefront of their minds and wallets!

Whatever coins you choose to invest in with your hard-earned fiat is up to you! And luckily, most of the coins available on your favorite exchange have a great chance of making you some gains in the next bull run. Some, however, will need some extra gravy to remain palatable. While the crypto-turkey’s presented here may have been fine holds in the past, the new year will bring new challenges to be solved and new products to catch our eye. Relying on yester-year’s investments might not make as much sense as we once believed. And as we get ready to celebrate our holidays over a fine assortment of fantastic foods, it’s a great time for investors to watch their wallets, before being stuffed!

Follow me, Micah C. Miracle as we blast off into a new year! You can also catch me on You-Tube!

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Lotto Nation is Revolutionizing the Traditional Lottery Industry

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As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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