Okay, your Coinbase account is set up and you are dipping your toes in the world of cryptocurrency by accumulating that sweet Bitcoin, Litecoin, and Ethereum.  The savvy investors recently purchased Litecoin down at $120 and sold it at $240. Yes, hindsight is 20/20. Did you know there are hundreds of altcoins you can purchase?

Unlike the boring stock market, the whole crypto world feels a bit like the Wild Wild West (cue the horrible Will Smith movie with the spider robot), but there could be huge rewards to reap in this new environment. It gets a little tricky to purchase coins outside of the big three in the United States, but it is possible. The first step is to purchase through Coinbase. I recommend purchasing LTC or ETH because the transfer fees are far less than BTC. Once you have your funds, you have to transfer over to a different service such as Binance. If you don’t have a Binance account, click here to set one up and get some free money. Once everything is transferred, the altcoin world is your oyster. Three coins (in the fountain) that many people are excited about are TRON TRX, STELLAR XLM, and RIPPLE XRP.

TRON TRX

TRON was founded by Justin Sun who appeared in the Forbes 30 under 30 feature in 2017. This coin was established in Singapore as a nonprofit group that operates on the idea of fairness. Singapore is known for having a sound set of laws regarding currency and financial framework. The coin spiked as high as $.30 when John McAfee recommended TRX as a long-term investment.

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It has since gone down to the five cent mark and many investors are awaiting news regarding future development. This is a high risk high reward situation.

STELLAR LUMENS XLM

Stellar Lumens XLM as founded in early 2014 by Jed McCaleb and Joyce Kim. This is another open source protocol for the exchange of currency supported by nonprofit. There are several institutions implementing this currency already including Praekelt Foundation, Oradian, and IBM.  There is a lot of buzz around this coin and it’s currently down at the $.40 level. It was recently upwards of $.95, so it looks like a good entry point.

RIPPLE XRP

Ripple is a real-time currency exchange network to enable secure, instantly and nearly free global financial transactions. It has been used by companies such as Unicredit, UBS and Santander.  The conventional banking system prefers Ripple to any other cryptocurrency, which has many people excited about it. In fact, the price of Ripple went as high as $3.50 in 2018. It is currently at around a dollar, so it looks like a good entry point.

You might be on your way to a comfortable retirement or you could lose everything! Take a small chunk of savings a give it a whirl.

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