A cryptocurrency is a type of currency that is decentralized and exists only in the digital form. There are various types of crypto coins, with each offering broad arrays of benefits. The best thing about cryptocurrencies is that they offer great investment opportunities.
This is exactly why Investing in these currencies is becoming increasingly popular every year. If you also love the idea of investing in cryptocurrencies, then you’re in luck because, in this article, we’re going to discuss the best cryptocurrencies to invest in 2020.
But before moving forward, we’d like you to remember that these currencies are highly volatile and bear a certain risk factor. Therefore, you must ask for an expert’s advice before making any investment in these coins.
TOP CRYPTOCURRENCIES TO INVEST IN 2020
Bitcoin – Widely Accepted Cryptocurrency
Bitcoin is the most widely accepted cryptocurrency. It is so popular that crypto experts refer to it as the indisputable king of crypto. There are several reasons that make bitcoin a safe investment option, even for the year 2020. For example, it is decentralized and allows anonymous transactions.
Besides, an important event known as Bitcoin Halving is going to take place in May 2020. The event happens once every four years and causes a significant boost in the price of Bitcoin.
The first halving took place in 2012 and rose Bitcoin’s price from $11 to $1,100.
The second halving happened in 2017 and took the price from $700 to over $20,000.
You can also check: Bitcoin Price and History
Ethereum (ETC) is the second most popular crypto, right after Bitcoin. It serves as a base for various decentralized apps (DApps) and is the largest coin in terms of daily traded volume.
Similar to Bitcoin, Ethereum is a decentralized platform that allows its users to make transactions without any involvement from a central authority.
From an investment perspective, Ethereum is a safe option in 2020 as it offers:
- Smart Contracts (a set of defined rules)
- Cheap transaction fees
- Fast confirmation time (15-20 seconds)
Ripple – Best Cryptocurrency to Invest In 2020
Unlike other cryptocurrencies, Ripple takes a different approach to solve the same problem, i.e. making the money transfer faster and cheaper. While the majority of other cryptocurrencies focus on dominating the crypto market, Ripple’s strategy is to dominate the banking AND financial authorities in the field of money transfer.
Considering its benefits, many financial institutions around the world have already started to adopt Ripple as it ups their money transfer game.
From an investment point of view, Ripple’s hasn’t really been the eye candy for investors, but this doesn’t mean the token is dead. The price of Ripple is expected to appreciate in 2020 as the list of financial institutions using this coin is starting to grow.
Litecoin (LTC) is a Bitcoin-based altcoin. Of all the alts, Litecoin is the most successful. It uses the same base code as Bitcoin with minor changes and its price moves in parallel with Bitcoin. However, it never goes above its parent currency.
Litecoin is an excellent investment option for people who can’t afford Bitcoin as it gives them a cheaper alternative with a similar return of investment.
Binance is one of the newest coins as it only came out in 2017. Unlike other coins which were developed by groups of individuals, Binance Coin was introduced by a crypto exchange called Binance.
According to its developers, the main goal of this coin is to help the crypto market and blockchain technology become more mature.
The best thing about Binance is that its price has been on the rise ever since its launch. In fact, it’s one of the few coins that have reached their peak since 2017. So if you are trying to find the best cryptocurrency to invest in 2020, Binance could be another great option.
Related: How to get bitcoin free?
Monero is another open-source and decentralized currency that allows anonymous transactions.
If you’re looking to enhance your digital privacy and security, then investing in Monero would be ideal for you. It’s highly private and impossible to trace, which is exactly why the majority of deep web transactions take place in Monero. Plus, it has a low inflation rate, which is another good reason to invest in this coin.
Tezos is a new blockchain-based coin that came out in June 2018. It is decentralized and uses Smart Contracts in a similar way as Ethereum. However, its processing time is much faster and can complete 40-50 transactions per second. On the other hand, Ethereum can only process 15 transactions per second.
Tezos is among the top 10 digital coins according to CoinMarketCap. Besides, it is listed on every reputable crypto exchange, including Binance and Kraken.
Form an investment perspective, Tezos is the best cryptocurrency to invest in 2020 for those having a limited budget. It has experienced significant growth over the past two years, and the future looks bright too!
EOS is an open-source platform created to help businesses around the world. EOS has one of the fastest blockchains that can complete millions of transactions in one second.
One of the biggest advantages of using this coin is zero transaction fees. Plus, it’s full of exciting investment opportunities and has support from some of the biggest names in the business world. For example, PayPal owner Peter Theil is an EOS investor. He believes that the coin is a safe investment option and will do good in 2020.
Many other experts also agree that 2020 is an excellent year for crypto investors to buy EOS.
Cosmos is an ecosystem of independent blockchains that work together. The main goal of Cosmos is to create an internet of blockchains that can communicate with each other.
Cosmos has support from some of the elite exchanges, including Binance. Of all the new crypto, many experts suggest that Cosmos is the best cryptocurrency to invest in 2020.
BAT is an Ethereum blockchain-based platform to help the advertising industry. It introduces a transparent advertising exchange that enhances privacy and protects users, publishers, and advertisers from malware attacks.
Everyone that uses BAT gets rewarded. Advertisers pay BAT to publishers based on the performance of their ads, while users receive BAT by viewing advertisements.
This token has a solid foundation and is controlled by professionals with a proven track record. With more people becoming aware of BAT, the year 2020 is ideal for investing in this coin.
So these were the top cryptocurrencies that investors like to purchase. You can make money with cryptocurrency. We hope that the information in this article helped you pick the best cryptocurrency to invest in 2020. If there are any questions that you want to ask, please write below in the comments section. We’ll try to respond as swiftly as possible.