How and Why I (Lukas Green) Picked These as my Top Altcoin Projects
An article by Luke Green on Altcoin Magazine
Excluding Bitcoin and Ethereum, there are currently 2,394 coins listed on Coinmarketcap. This presents some challenges. Especially when picking what coin or token to invest in. If you were to spend say, one hour, researching each one, it would take you well over a year of full-time work to get through them all. Perhaps a task that is beyond even the most ardent crypto enthusiast!
With Bitcoin maximalists telling you that BTC is all that really matters, or Ethereum bulls suggesting the world will be run on ETH, just as soon as the scaling issues are solved, what’s the best way to cut through all the noise in the space?
The strategy I take is fairly simple and straightforward. This is mostly because I don’t have the time to spend on hours of research. It goes something like this.
My Strategy for Selecting Altcoin Projects
First, where to focus? For me, I pick an industry or sector that I have some understanding of or an interest in. This does two things. One it massively narrows down the options. And two, it helps to cut through the inevitable marketing jargon and evaluate the products or services with a critical eye.
The next step is to evaluate the business, the team, the road map, the community, and the product. Because just like any business with potential, the winners of the future will be doing one of the following things exceptionally well:
- Providing a product or service that currently has or will have large demand
- Without blockchain technology, it wouldn’t be possible for them to make their products or service, better, faster or cheaper
In simple terms, you need to ask yourself, ‘is this a truly innovative company with blockchain at its core, or have they just lazily bolted on blockchain functionality?’ If the business solves a real-world need, right now or in the future coupled with high demand potential, then you could well have the opportunity to be a smart buyer and see the token increase in value as its utility expands.
Of course, if you are a trader you can make all this even simpler — just look for the coins with good liquidity and good technical setups. But that’s a whole different conversation!
With the above in mind, let’s go through some blockchain companies I personally think have huge upside potential and why.
Powerledger — POWR
In my mind, this is a vastly underestimated and undervalued project. When you consider the current situation with global carbon emissions and the increasing need to decarbonize our supply chain, Powerledger could be right at the center of the new energy economy. In simple terms, they have tokenized energy. It’s an ERC20 token called POWR and it allows you to trade electricity peer to peer.
The ramifications of this are potentially gigantic. Allowing us to move away from centralized inefficient and carbon-heavy power stations, to a more localized, distributed and meshlike power supply. Beyond the fact it will create a much more resilient power grid, just imagine being able to trade the surplus power you generate with another person who is in deficit?
Admittedly, the energy sector moves slowly, so this is a long term play. But you could have seen the bottom for this token. As the needs of global climate get louder, so does the viability of this project.
Basic Attention Token — BAT
In a digital world, we’ve become increasingly aware of how much our data and attention is actually worth. And along comes a new web browser called Brave which has effectively turned your attention into a tokenized asset called BAT.
The concept is really simple. Use the awesome Brave browser to browse the web, advert, and tracker-free. Opt-in to their unobtrusive ads and you get paid in BAT to watch them. You can then turn BAT into hard cash or choose to tip people online either manually or automatically based on how much attention you give them.
Apart from making the web a better, more secure place to browse, Brave does not collect your personal data and instead uses your local browsing history, completely anonymously to decide what adverts to send you.
With growing mainstream discontent about how big tech has treated our personal data, it’s translating into more and more Brave users and thus exposing more people to the concept of BAT. With impressive growth figures, it’s well on the way to being the currency of our attention.
Digitex Futures — DGTX
Futures trading, especially cryptocurrency futures trading, has seen huge growth in recent times. Democratizing previously untouchable markets and allowing practically anyone to try their hand at trading with leverage. Despite this, there has been little progress or innovation.
That was until Digitex Futures. The DGTX exchange token is poised to completely disrupt futures trading and perhaps even the concept of marketplaces. DGTX will be the currency of the exchange, creating a token that has 100% utility. Unlike Binace’s token BNB, which is optional, you must own DGTX to trade on the exchange.
While that might initially sound restrictive, it unleashes a completely revolutionary funding model for running an exchange business. It allows traders to trade highly liquid markets with no commission costs alongside market makers that are programmed to lose.
Digitex Futures looks to be on course to completely level the playing field for traders. When every other exchange is built on the concept of charging you to trade, DGTX will attract huge interest both for it’s testnet on November the 30th and when it goes live in early 2020.
LTO Network — LTO
Many Crypto projects look to solve a specific product or service, but LTO is different. Its focus is on providing the bridge between centralized business operations and the advantages of decentralized blockchain operations.
It’s a simple fact that change takes time, and radical change like the blockchain creates a lot of challenges for businesses whilst raising the specter of costs and risk. For companies that need to modernize and take advantage of the blockchain, LTO provides a way to migrate and connect with the blockchain at their own pace.
It’s a compelling offer and its viability is borne out by the recent growth of their network. They are a rare blockchain project that has a solid working product, a growing and enviable client base, and many successful projects already behind them. LTO is powering ahead at the forefront of blockchain adoption.
With so many projects out there and given the crypto industry is still in its infancy, it’s a simple fact that many won’t go on to fulfill their potential. However, by looking at them with a critical eye and evaluating the wider implications of the products and services they offer, there’s every possibility the next Google or Facebook is hiding in plain sight. Regardless of the method you use to decide to invest, I think we can all agree that the next few years in this space is going to be incredibly exciting.