Some characteristics to look for:
- ASIC resistance. Some currencies make sure you can't just throw money at GPU and become the king of the hill like with Bitcoin. E.G: Vivo, VTC, XMR.
- CPU friendly. Some currencies can be mined on CPU, not just GPU. It makes it interesting for embedding in web pages or viruses. E.G: Monero, Aeon, etc.
- Privacy focused. Some currencies make it hard to know where does the money comes from and goes to. E.G: Monero, Zcash and co.
- Smart contracts. Some currencies are not just money, but gigantic programmable public databases. Ethereum being to smart contracts what bitcoin is to cryptocurrengies in general.
- Master nodes. Some currencies provide very fast transactions by featuring nodes responsible to pre-validate them. E.G: Vivo, Dash.
- Community. You may want big name supports (Bitcoin, Ripple), great tooling (Ethereum, Monero). You should check if your exchange deal with the currency your target.
Personally I like:
- Vivo. The team is close to home. The master nodes give me great rewards and I help friends and family to setup theirs, for a fee. Best investment to date, appart from BTC. But only cryptopia deals with them which make it hard to trade.
- Monero. Simple to mine, and nobody knows what I do. But a bad rep because of the viruses.
- Ethereum: it's the most stable currency IMO, because of all the ecosystem, it's not gonna die. Also awesome team. Very little downside to this one.
- Ripple: big names trying to do official things. I'm curious of the result. But it's premined.
Sometime I feel like I should stop writing blogs post about Python and be paid as a full time crypto explainer, cause it's like I answer the same questions every day.
Anyway, good luck. And don't believe any people telling you they perfectly understand this market, because it's the most irrational one I ever seen. It's unstable. It's exploding. It's crazy. And so fun. Until you loose everything :)
first of all, asics are specially designed hardware, not gpus
second, switching to actual gpu- or cpu- friendly algorithm comes with it's own drawbacks - anybody controlling large enough botnet can perpetrate 51% attack against you