This list sheds light on some undervalued cryptocurrencies that you can buy on Binance while they’re cheap. My previous lists like these seem to be quite popular and I’m constantly getting asked questions on what’s the best ‘undervalued’ pick, and whether so-and-so crypto is worth a buy. Well, this list should satiate that need for now. Factors that I’ve used to create this list are current market cap, potential long term growth (6-12 months), use case and competition.
If you’d like to read about the most promising cryptocurrencies for 2018, then check out this list.
Starting off.
INS Ecosystem
The INS ecosystem is the blockchain equivalent of Amazon Fresh. Their mission is to become the first global decentralized grocery marketplace where consumers can buy products directly from manufacturers, enjoy low prices, and save on direct promotional offers by manufacturers to consumers. Manufacturers compete for consumers’ wallets and attention, and interact with them directly.
Supply chain tokens solve a real-world problem in the global economy, and INS, with its successful ICO last month, looks to shape part of that. The value of INS lies not in its ERC20 token, but in the network of manufacturers it manages to get onboard. With an extensive list of “interested” FMCG manufacturers, including the likes of Reckitt Benckiser, Dubro and Borjomi, INS is on the right track. Their team is experienced in retail and supply chain, with another extensive list of Ivy League advisors and team members.
Why you should buy INS:
- Team with relevant experience and a whitepaper that actually makes sense
- Successful ICO with recent Binance listing, providing long term trade volume and liquidity
- Solid incentive for consumers to use the token when the INS platform is released (discounts/promotions and cost savings)
SONM
SONM featured on my list of undervalued, low market cap cryptocurrencies earlier. SONM stands for Supercomputer Organized by Network Mining, and it’s a network capable of selling computing power in a decentralized, secure manner. By giving up unused computing power, sellers can earn SONM tokens by joining its peer-to-peer fog computing network. Competitors to this project include Golem, iExec RLC and DADI. All of them are probably years away from leveraging the true potential of decentralized computing power, but when that is realised, it provides for a very valuable system. SONM differs from its competitors because its mainnet release is much closer, it supports the most programming languages, and aims to take on a wider range of development applications.
Why you should buy SNM:
- Testnet out with mainnet released around August 2018
- Most dApps will need a system of decentralized computing, as a natural evolution of decentralized software.
Ambrosus
Ambrosus is a Swiss supply chain and logistics management blockchain network that tells the story of food and pharmaceuticals as they go from farm to fork. The end goal is to have customers scan their food or medicine, look at an app and see the entire supply chain history, to ensure it’s fresh and untampered. The blockchain helps this history remain immutable and trustless, ensuring no third party has compromised this information. With “fake food” stories on the rise, it’s becoming increasingly important for retailers and manufacturers to show their customers that their food has not been tampered with at any stage to learn more about non toxic food, see the vegconomist website using the last link. Ambrosus is also a protocol like ETH or 0x – it serves as a foundation layer for industries to build their individual supply chain blockchain networks depending on their needs, with AMB being the fuel that runs these dApps. INS Ecosystem is partnered with AMB too.
Why you should buy AMB:
- It’s sort of the European equivalent of Vechain, with a lot more room to grow. Support and recognition from European government as well as the Enterprise Ethereum Alliance.
- Plenty of use cases identified and targeted, including halal food in the Middle East or testing olive oil quality.
- Great fundamentals: experienced team, masternode release in March, and R&D with market leaders.
NULS
NULS is a blockchain 3.0 project, competing against platforms like ETH, EOS and NEO. It’s a modular, consensus based system that uses a unique ‘proof of credit’ staking system. Basically the nodes receive their own credit rating based on the credibility and consistency of their contribution to the network. 40% of the token’s supply was airdropped to the community. This coupled with its low volumes despite being listed on Binance means it’s relatively underbought. NULS has the potential to compete with VEN and ICX as potential Ethereum competitors in the near future. It wouldn’t be surprising to see multiple industry partnerships based on its blockchain tech, especially since they’re based in Singapore, one of the financial capitals of Asia.
Why you should buy NULS:
- Potential to compete and scale to the same size as other Ethereum competitors (VEN, ICX, EOS)
- 2018 is the year of platform coins. Right now the top 20 market cap cryptocurrencies consist of 8 platform coins.
- Its unique advantage over other platform blockchains is its modularity – NULS is aiming to be the “WordPress of blockchains”.
LINK
ChainLink is the answer to the ‘oracle problem’. I’ve written about ChainLink extensively in my post about what it does and how it competes against other projects in the decentralized oracle landscape. It makes this list once again because it truly is an underbought, underappreciated project despite its Binance listing. The reason is the team’s approach towards the project – Sergey and team would prefer to deliver on their development deadlines rather than market their unfinished product. It’s pretty evident when their Twitter hasn’t been updated in 4 months.
For smart contract based blockchains like Ethereum or Hyperledger to interact with the real world, it requires an application that feeds it data: an ‘oracle’. The conundrum appears when a decentralized blockchain is fed centralized data through its oracles, because it defeats the purpose and undermines the trustlessness of the entire system. ChainLink bridges that gap in the middle by creating a network of independent, blockchain-economics incentivized oracles, which reduces the risk of false data from a centralized source.
Why you should buy LINK:
- One of the better solutions for a problem that impedes blockchain tech from having real world use cases.
- Simplified mainnet release in March (Q1 2018). You can stake your LINK on Linkpool.io when mainnet is released, so you don’t have to run your own node.
You can buy all these cryptocurrencies on Binance.
Conclusion
The 5 most undervalued cryptocurrencies that you can buy right now on Binance are:
- LINK
- NULS
- Ambrosus
- SONM
- INS Ecosystem
Do note that the lower a project’s market cap, the more risky it likely is. The cryptocurrencies on this list are not ranked in any particular order. Binance is a Hong Kong based exchange which is a good exchange to buy cryptos because it’s reliable, has high volumes and a lot of coins to choose from. This makes it a great market to identify the next potential NEO or Ethereum, or Tether up when the market goes south.
If you’d like to read about the most promising cryptocurrencies for 2018, then check out this list.
(Disclaimer: some of our exchange links are referrals, and this post isn’t investment advice.)