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.
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.”
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 potential.
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.”
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.