Trust us, with 2020 creating hype for cryptocurrencies, there is a part in all of us that wants us to trade cryptos.
If you’re planning to invest in the crypto market, we have good news for you guys! Many crypto thought leaders and enthusiasts are claiming 2020 to be the best year to invest in crypto assets.
But not all of us are experts in crypto trading, right? With more than 4000 cryptocurrencies in the market, coming up with the right crypto to invest in could be somewhat difficult.
Though you find the right crypto, it may have some risks involved. We’re here to help you with the list of best cryptocurrencies to invest in 2020, along with the details on why those cryptos will set off this year.
Each of us has a different investment goal. There are a lot of cryptocurrencies that are considered as reliable sources for investment. You should also take into account the level of experience you have. Like, some cryptos are good for beginners while others are best suitable for experienced traders.
A note to remember: Investing in the best crypto is not enough to become a successful trader. You should involve yourself in trading, be active on crypto-based forums, and keep on researching the market to understand it better.
A majority of crypto traders have ended their journey due to security reasons. If you’re really into crypto trading, then you have to enable all the security measures to protect your investment.
Why we are pressing the importance of security is because we have seen many crypto investors making security-related mistakes. Like, deactivating Two-Factor Authentication, having an easily-crackable password, leaving cryptos in an exchange, not having a hardware wallet and the list continues. Please don’t make any of these mistakes.
Okay! Now coming back to our topic.
Of course, when we discuss cryptocurrencies, it would definitely start with Bitcoin – the first and the most popular cryptocurrency.
You may ask, why is that? It’s because this crypto is the only one that’s widespread among all parts of the world. Traders often refer to bitcoin as “the king of cryptocurrencies.”
Bitcoin is currently doing what it is supposed to do, which is “becoming a global identity, P2P, digital payments, and the most important purpose – not controlled by any authority or government.”
The factors mentioned above are enough for you to invest in bitcoin. Besides, it also has the highest liquidity in the crypto market (the best option for beginners), and it is the second-largest currency by volume.
Since almost all cryptocurrency exchanges support bitcoin, there will be no hurdles in either buying or selling this digital currency.
You may be on any exchange to buy/sell your bitcoin and there will always be another trader on the opposite end, waiting to match your order.
Of the 40 well-known cryptocurrencies, Bitcoin is the most stable one, despite its volatility. Many people believe that this currency’s demand and adoption will grow to a greater extent in the upcoming years.
By design, Bitcoin is limited to 21 million coins. And when the demand increases, simultaneously the price will. It’s better to invest in bitcoin now. And after the next Halving, your investment will be doubled or even tripled.
2020 is going to be a striking year for Litecoin. Crypto enthusiasts see this coin as the most trusted one among the considerable cryptos.
This crypto has extremely high liquidity and enormous market cap, which are enough for a trader to consider investing in this coin.
“If you don’t want to be involved in any kind of risks, then try to avoid investing in coins with smaller market volumes and communities.”
You may wonder why we have placed Litecoin in the second place. It’s because we have understood the true potential of the coin.
Litecoin’s supply is limited to 84 million coins (remember crypto mining?). Miners are rewarded with 25 LTC for each block they contribute and this is the highest block reward compared to other cryptocurrencies.
And one more thing is that it takes just two minutes (approx.) to mine a block on the Litecoin blockchain network (faster than most of the cryptos).
Investing in Ethereum would be the most profitable action in 2020. From the day of its launch till now, ETH has been considered one of the best investment options.
Ethereum is a massive network and it was the first one to bring smart contracts to light, therefore, allowing blockchain developers to launch dApps (the so-called decentralized applications).
“Ethereum is the second-largest liquid cryptocurrency following Bitcoin. And so smile, you’ll never have to face difficulties in buying or selling this crypto on any exchange.”
Besides, Ethereum is backed by a loyal team and community. This opens up a chance for the crypto to remain a stable one and increase in value. It also fuels the reason for us to believe that Ethereum will remain a strong investment in the future.
Compared to Bitcoin and Litecoin, Ethereum Tokens (also known as Ether) are much more in number. This dynamic token is a significant factor that boosts the dApp network. Blockchain developers and firms who are launching dApps will need Ether to support their smart contracts.
Again, you will never ever have to struggle to sell your Ether.
4. Basic Attention Token
The Basic Attention Token by Brave has been one of the most valued cryptocurrencies since 2018. The main purpose of this token is to value user attention on the Internet.
BAT is considered a utility token and used by Brave Browser. Users on this browser can tip content creators or others whom they find helpful on the Internet.
It’s up to you to choose the method of tipping the content providers for their contribution. Since the Brave browser has a very large number of users, BAT seems to have a lot of potential in the crypto realm.
Besides content creators, users who watch ads are also rewarded with BAT. You may wonder why. We all know that Brave is an ad-free browser. And so, they are tipping the people who watch ads.
“This gift-for-user is a budding program and there is a lot to be explored on the platform. With more people joining the Brave community each day, it could open up the gates for a lot of new opportunities for both the user and the Brave community.”
In recent years (let’s say the last three years), many cryptos that were thought to rule the crypto market collapsed due to unknown reasons. But not Basic Attention Token. Many traders were shocked to see this coin remaining consistent, despite the market conditions.
Experts say that the currency’s demand is expected to grow in the near future and so will the price. It’s better if you invest in them now.
NEO, also known as the Chinese Ethereum
NEO resembles Ethereum in a number of aspects. It is a smart contract platform, just like Ethereum, that allows blockchain developers to launch their dApps. Because it offers smart contracts, there lies potential in it.
Both NEO and Ethereum are not just cryptos, they are more than that. They act as a platform for creating smart contracts, dApps, and other digital assets on their blockchain networks.
NEO offers a more straightforward way to transact equity, shares, and assets. Tokens are considered the proof of ownership of an asset and they are distributed on the NEO platform itself.
NEO is backed by a more advanced, say futuristic technology that makes use of enhanced POS (Proof Of Stake). The tech is strengthened by a Delegated Byzantine Fault Tolerant system.
NEO is considered one of the best investment options because of its high liquidity. The value of NEO is increasing at a faster pace. The founding team behind the crypto is trusted among the crypto communities and this just fuels up NEO’s credibility value.
That’s all for now. “The next 5 best cryptocurrencies to invest in” will be continued in the next blog.
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