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3 Altcoins That You Should Avoid Investing in 2019

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If you are interested in investing in cryptocurrencies, chances are that you are trying to find a coin with the biggest chance to succeed and go big. While searching for a good investment like this is a decent strategy, it is also important to do your research and discover which altcoins to stay away from.

Skeptics are known for saying that all cryptocurrencies will fail within a few years. While it certainly cannot be expected that every single altcoin will survive, it will likely take more than several years to kill them off. Even so, for those that are careful enough and know how to pay attention to detail, there are indicators that might tell you which coins will likely disappear quite soon.

Because of this, we have come up with 3 altcoins that are most likely to fail soon, possibly even before 2020. While the final decision is yours, most people agree that investing in these coins is a bad idea.

1. Verge (XVG)

Verge is the coin that has experienced huge losses quite recently. Only half a year ago, the coin was praised as one that might bridge the gap between crypto industry and some online businesses. It even got partnered up with Pornhub, which is one of the top websites in the adult entertainment industry.

However, soon after that, Verge started losing value. Now, it dropped on the list, and it currently holds the rank of 48 on CoinMarketCap’s list of largest cryptos. Most experts agree that XVG has failed for a few reasons. The biggest one is likely the fact that it was overhyped. After partnering up with Pornhub, many believed that large firms such as Amazon are next. Unfortunately, by becoming “porn coin”, not a lot of others wanted to join up with XVG.

The fact that it is a privacy coin did not help either, and Verge is almost completely forgotten these days. While it undoubtedly has its community to rely on, experts agree that it will probably never reach $1 again. Instead, it will only continue to lose price, and sink lower on the list, until it loses all support and disappears.

2. Tether (USDT)

Tether is a well-known stablecoin that has been a topic of many discussions within the last few months. While it is still among the top 10 cryptos, holding the rank of 8th largest coin by market cap, many believe that this will not last forever and that USDT will soon disappear.

Tether is still the most famous stablecoin, but it was simply a center of controversies too many times for people to still genuinely believe in it. As a stablecoin, each of its coins is backed by a single $1, which is why its price should always be $1, without any high volatility. So, what is the problem?

The problem is that the company that is issuing USDT needs to prove that it can actually back all of its coins. Tether currently has 1.7 billion coins in circulation, which means that the company needs to have the same amount of money backing the coin. So far, they failed to provide evidence that this is true, and the coin started experiencing significant volatility. Suddenly, nobody wanted to own USDT anymore, in fear that their coins are worthless.

People started returning the coins and exchanging them for other digital currencies, and Tether still did nothing to defend its coin. In fact, it actively avoided doing so for years. For a lot of people, this was confirmation that they cannot confirm its worth, and Tether lost a lot of its support, holders, and its value never actually returned to $1. Soon enough, investors turned to other stablecoins that are doing things “by the book”, and that can prove their worth, which is why Tether will likely fade away in time.

3. Dogecoin (DOGE)

Finally, there is DOGE, which is quite a popular coin, despite the fact that it is constantly losing value. Its story is known to a lot of people already — it started off as a joke several years ago, and it outlived all expectations by still being around today, especially since its creator, Jackson Palmer, decided to distance himself from the project.

Dogecoin is actually not surrounded by controversy, bad decisions, or secrets that can destroy it. It is simply losing value due to the fact that it has no total supply. In other words, it can be mined infinitely, and the more you mine it, the more coins get into circulation, and the more its value drops.

Over the years, DOGE became a tipping currency, meaning that it is being used for leaving tips instead of likes, upvotes, retweets, and alike. It is a coin that can be used for showing appreciation, which is why it is popular among content creators on social networks. Not only that, but the only reason why the coin survived for so long is one of the strongest crypto communities in the space. Not only is the coins still around, but it managed to hold on to the rank of 25, despite the fact that its price is only a fraction of a cent.

While this is impressive by itself, most people agree that DOGE cannot survive like that forever and that it will likely disappear in a few more years. While many will be sad to see it go, such a faith is likely inevitable for everyone’s favorite dog meme coin.

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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

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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Altcoins

Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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