Money

Cryptocurrency Investor Names His Favorite Digital Currencies

With so many digital coin options out there, it can be difficult for investors to know how to navigate the cryptocurrency universe.

Ran Neu-Ner, founder of Onchain Capital and host of CNBC Africa’s “Crypto Trader,” offered a few tips to “Fast Money” traders on Thursday. Here are some of his favorite and least favorite digital currencies.

Bitcoin

Neu-Ner is an early investor of the large-cap coin. But he still said to sell.

“I like bitcoin,” he said, but pointed out that it’s, “priced too low.” The coin, valued as high as $19,500 late last year, was trading around $8,100 on Thursday evening.

“It’s going to continue to go up, slowly and in a stable way,” he said. “But there are more exciting cryptocurrencies out there.”

Bitcoin Cash

One of them might be bitcoin cash.

The coin, priced around $1,200 Thursday evening, was down by about $100 from Tuesday. But that’s still almost double its April 17 level of $763.

With a solid team behind the coin, Neu-Ner said he sees a lot of potentials.

Ethereum

Hold this coin, Neu-Ner said, “for sure.”

He pointed out that ethereum has many potential uses and one of the biggest communities in the industry, with thousands of people, “the smartest people in the room.”

But it’s not just ethereum Neu-Ner is excited about.

“I’m excited for a new generation of protocols like ethereum,” he said. Some picks: Oasis, Zilliqa and Thunder Token.

“Ethereum has scalability issues,” Neu-Ner said. “They’re doing 15 transactions per second. That means, that’s not real-world stuff. But some of the other blockchains are resolving this. They’re promising 10,000 transactions per second.”

Ripple

Definitely a sell, the crypto trader said of Ripple.

“I’m throwing it in the garbage,” Neu-Ner said.

While he pointed out that Ripple the company is “one of the best companies I know,” he said its token, the XRP, is not.

“I can’t find a use case for the token,” he said. XRP is also a centralized token, which Neu-Ner said defeats the point of blockchain technology.

“I’m out,” he said.

This story originally appeared on CNBC. Image courtesy of Chesnot/Getty Images.

Join The Discussion

Italy Steps Toward Populist Government As Conte Gets Mandate
Italy Steps Toward Populist Government As Conte Gets Mandate [Video]
Trump Will Know Next Week If North Korea Summit To Go Ahead
Trump Will Know Next Week If North Korea Summit To Go Ahead
French Government Orders Evacuation Of Paris Migrant Camps
French Government Orders Evacuation Of Paris Migrant Camps
Death Toll Climbs In Karachi Heatwave
Death Toll Climbs In Karachi Heatwave
Italian Court Rules Bankrupt Crypto E
Italian Court Rules Bankrupt Crypto Exchange BitGrail Must Stay Closed
One Of The World's Largest Stock Exchanges Is 'Deep at Work' With Bitcoin
One Of The World’s Largest Stock Exchanges Is ‘Deep at Work’ With Bitcoin
India’s 18% Crypto Tax, What Are The Main Points Of The Porposal
India’s 18% Crypto Tax, What Are The Main Points Of The Porposal?
Bears Push Bitcoin Price Below $8,000
Bears Push Bitcoin Price Below $8,000
The Best Times And Days To Post On Facebook, Instagram And Twitter
The Best Times And Days To Post On Facebook, Instagram And Twitter [Infographic]
The 10 Marketing Skills Needed In 2018
The 10 Marketing Skills Needed In 2018 [Infographic]
A Marketer's Guide To B2B Blogging Success
A Marketer’s Guide To B2B Blogging Success [Infographic]
How Much Value Can You Get From Graphics
How Much Value Can You Get From Graphics [Infographic]
Instagram Rolls Out Option To Mute Profiles
Instagram Rolls Out Option To Mute Profiles
Facebook Adds Three New Options To Facebook Stories
Facebook Adds Three New Options To Facebook Stories
Instagram Officially Launches Re-Sharing Of Posts To Stories
Instagram Officially Launches Re-Sharing Of Posts To Stories
YouTube To Launch New Music Streaming Service On May 22
YouTube To Launch New Music Streaming Service On May 22
The Surprising Link Between Procrastination And Threats To Your Health
The Surprising Link Between Procrastination And Threats To Your Health
How To Be Ambitious Even In Dark Times
How To Be Ambitious Even In Dark Times [Video]
How To Overcome Obstacles
How To Overcome Obstacles [Podcast]
Convince Yourself You Are Worth It
Convince Yourself You Are Worth It [Podcast]