Top Cryptocurrencies to Invest In December 2017: A Comprehensive Guide

In December 2017, the cryptocurrency market experienced an unprecedented boom, with Bitcoin reaching an all-time high of nearly $20,000. Many investors were looking for the next big thing in the crypto space. If you were contemplating investing in cryptocurrencies in December 2017, here is a comprehensive guide to the top cryptocurrencies that you should have considered.

1. Bitcoin (BTC)

Bitcoin, the pioneer of the cryptocurrency market, has always been a top choice for investors. As the first decentralized digital currency, Bitcoin has maintained its position as the king of cryptocurrencies. In December 2017, Bitcoin was trading at around $15,000, and many experts predicted that it would continue to soar. If you had invested in Bitcoin in December 2017, you would have seen a substantial return on your investment.

2. Ethereum (ETH)

Ethereum, the second-largest cryptocurrency by market cap, is a decentralized platform that enables the creation of smart contracts and decentralized applications (DApps). In December 2017, Ethereum was trading at around $700. With its growing ecosystem and increasing adoption, Ethereum was a promising investment option for those looking to diversify their crypto portfolio.

3. Ripple (XRP)

Ripple, a digital payment protocol, is designed to enable fast and secure international transactions. In December 2017, Ripple was trading at around $1.40. Its unique value proposition and partnerships with financial institutions made it a solid investment choice during that time.

4. Litecoin (LTC)

Litecoin, often referred to as the "silver" of cryptocurrencies, is a peer-to-peer digital currency that aims to be the faster alternative to Bitcoin. In December 2017, Litecoin was trading at around $250. With its increasing adoption and community support, Litecoin was an attractive investment option for those looking to gain exposure to the crypto market.

5. Bitcoin Cash (BCH)

Bitcoin Cash, a hard fork of Bitcoin, was created to address scalability issues and improve transaction speed. In December 2017, Bitcoin Cash was trading at around $2,000. Its rising popularity and growing community made it a potential investment opportunity during that time.

6. Cardano (ADA)

Cardano, a blockchain platform that aims to offer a more secure and sustainable alternative to existing cryptocurrencies, was trading at around $0.40 in December 2017. With its unique proof-of-stake algorithm and growing ecosystem, Cardano was an emerging investment opportunity that could have yielded significant returns.

7. IOTA (MIOTA)

IOTA, a decentralized ledger technology designed to enable secure communication and micropayments between devices, was trading at around $1.50 in December 2017. Its innovative concept and potential applications in the Internet of Things (IoT) made it a promising investment choice during that time.

8. Stellar (XLM)

Stellar, a decentralized payment protocol, is designed to facilitate cross-border transactions. In December 2017, Stellar was trading at around $0.25. With its focus on financial inclusion and partnerships with various financial institutions, Stellar was an intriguing investment option for those looking to invest in the crypto market.

9. Dash (DASH)

Dash, a decentralized digital currency that aims to be the fastest and most private cryptocurrency, was trading at around $1,000 in December 2017. Its unique features, such as InstantSend and PrivateSend, made it a popular choice among investors seeking privacy and speed in their transactions.

10. Neo (NEO)

Neo, often referred to as the "Chinese Ethereum," is a blockchain platform that aims to build a smart economy. In December 2017, Neo was trading at around $200. With its growing ecosystem and increasing adoption in China, Neo was an emerging investment opportunity that could have generated substantial returns.

In conclusion, December 2017 was an exciting time for the cryptocurrency market, with numerous investment opportunities. By investing in top cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Cardano, IOTA, Stellar, Dash, and Neo, investors could have capitalized on the market's growth and achieved significant returns.

Now, let's explore some frequently asked questions regarding investing in cryptocurrencies in December 2017:

1. Q: What was the main reason for the surge in cryptocurrency prices in December 2017?

A: The surge in cryptocurrency prices in December 2017 was primarily driven by increased adoption, regulatory news, and mainstream media coverage. As more people and institutions became aware of the potential of cryptocurrencies, the demand for these assets skyrocketed.

2. Q: Were there any regulatory risks associated with investing in cryptocurrencies in December 2017?

A: Yes, there were regulatory risks associated with investing in cryptocurrencies in December 2017. Many countries were still in the process of formulating regulations, and the uncertainty surrounding these regulations posed a risk to investors.

3. Q: How did the market's volatility impact investors in December 2017?

A: The market's volatility in December 2017 was extreme, with prices fluctuating significantly within a short period. This volatility posed a challenge for investors, as they had to navigate through rapid price changes and make informed decisions.

4. Q: What were some of the most popular altcoins in December 2017, besides the top ones mentioned?

A: Besides the top cryptocurrencies mentioned, other popular altcoins in December 2017 included Monero (XMR), Litecoin (LTC), Ethereum Classic (ETC), and Bitcoin Cash (BCH).

5. Q: How could investors protect themselves from the risks associated with investing in cryptocurrencies?

A: Investors could protect themselves from the risks associated with investing in cryptocurrencies by conducting thorough research, diversifying their portfolio, staying updated with market trends, and practicing risk management techniques such as setting stop-loss orders and not investing more than they can afford to lose.