Before I go into why I think Spectrecoin (XSPEC) is a good investment, let me talk a little bit about getting into altcoins.
Altcoins can be a bit of a problem, because they can really give you a lot of gains if you invest somewhat smartly and if you’re a bit lucky (Bitcoin is hard enough to predict, altcoins are next to impossible). Just take a look at the “earnings made over time” posts you see on Reddit. This bear market has people excited again and many altcoins are also growing in price rapidly.
But I hope people are approaching investing differently this time. It shouldn’t be like before where, just become the market is going up and people can sniff money, you invest in any random altcoin you see simply because some paid shill on social media channel says so. I think people should be even more selective as time passes both because it makes managing your investment easier and for the fact that if you manage a few lucrative cryptos properly, you’ll actually stand to make more in the long run.
My personal approach to investing is to focus on different “niches” where blockchain and crypto will prove handy. Bitcoin, is not perfect - it has technical limitations at the moment, it isn’t as versatile as Ethereum and it is not as private as people think. This last feature is important. The cryptocommunity is largely very tech-savvy and cherish their freedom, independence and rights, especially privacy. The demand for privacy coins is clear and that’s why you have so many such tokens, like Zcash, Monero and Spectrecoin.
Sure, you can invest in the big name ones like Monero, or projects working on cutting-edge research like Zcash, but I feel that Spectrecoin is ripe for dominating this market.
What's the One Reason?
The difference between XSPEC and other tokens is the Proof-of-Anonymous-Stake protocol that runs the network. It is pretty self-explanatory: users get to stake, earn passive income and keep their identities private.
Monero, probably the top privacy coin out there, is a resource intensive Proof-of-Work network that remains out of the reach of those who want to invest in. I can’t think of any altcoins that have a similar feature such as the one XSPEC has. Plus, transaction rates are similar to Bitcoin and nodes can be run on something like a Raspberry Pi as it consumes very little power.
There are also more abstract reasons to be hopeful about the project. It had a difficult time last year, with a split in the development team giving its community some cause for concern, but the project has overcome that, gotten back on track - even becoming one of the top 50 crypto projects in terms of GitHub activity and en route to releasing an updated version of the wallet this Christmas season.
In any case, I think investors should keep an eye on projects in the privacy space. Spectrecoin is a token that seems well prepared to take on the demand for privacy tokens as crypto becomes more popular in the wider world. The new version (v 3.0) is going to decrease the rate of inflation, bring stealth staking, and introduce dual coins, so I can see XSPEC drawing some attention in the coming months.