Best cryptocurrency to invest in 2020
Best cryptocurrency to invest in 2020
So you want to invest in cryptocurrency and make profit ? But there are more than 2000 cryptocurrencies in the market so the question is which is the best cryptocurrency to invest in 2020. Well with a little bit of research you can find a lot of good coins to invest in but there are few things which you should keep in mind before investing in any cryptocurrency.
Things to remember before looking at the best cryptocurrency to invest in 2020 :-
- You should decide weather you are investing in that cryptocurrency for long term or short term.
- If short term, then at how much profit are you going to sell it?
- If long term, then for how much time are you going to hold it?
- You should calculate the loss you are willing to take.
- You have to follow the market news and stay updated.
If you are not thinking about above mentioned things before investing in a cryptocurrency and just want to invest without plan, then chances are that the consequences will not be in your favour. Because cryptocurrency market is highly volatile and it is not something that will make you rich overnight.
Now coming on best cryptocurrency to invest in 2020.
Below is a list of top 10 cryptocurrency to invest :-
Ethereum is a blockchain that was developed to support scripting and the creation of decentralized applications and smart contracts. It’s main aim was to augment and improve on bitcoin, expanding its capabilities.
Ethereum’s native token, Ether (ETH) is a cryptocurrency used to pay for the processing power of it’s virtual machine called EVM in order to run smart contracts or other Dapps, in what is called ‘gas’.
It is the 2nd largest cryptocurrency on the market after bitcoin and during the 2017 bull run it’s price went from 300$ to 1400$ in less than a month.
Investing in Ethereum is a very good idea for long term because the experts believe that ETH can hit 2000$ in the next bull run. Currently ETH is trading at 180$.
If Bitcoin is gold of cryptocurrency then Litecoin is Silver.
Litecoin(LTC), was created by Charlie Li, a former Google employee, whose inspiration was to create a lighter version of Bitcoin (BTC). Technically, Litecoin nearly resembles Bitcoin.
Bitcoin and Litecoin use fundamentally different cryptographic algorithms but Litecoin can produce a greater number of coins than Bitcoin and its transaction speed is also faster.
During a bull market LTC easily give returns upto 2x. Currently it is trading at 42$.
EOS is a cryptocurrency which works on EOS.IO blockchain protocol.
It’s blockchain platform enables the development of decentralized applications (dapps), just like Ethereum. Also EOS token holders are likely to get free tokens in the future. This could give an investor a great opportunity to earn some passive income.
EOS is my personal favourite because it is a worthy competitor of ETH and I think it has the potential of reaching 100$ in future. Currently it is trading at 2.54$.
BNB is a cryptocurrency (token) that was created by the crypto giant Binance. It was initially issued as an ERC-20 token on the Ethereum platform, but it soon transferred to the main Binance Chain. BNB has many use cases on the exchange like reduced trading fees, dust conversion, IEO lottery, nance Chain Native Token and spent as Cryptocurrency.
BNB was the only token who broke it’s all time high price in a bear market. It can be the best cryptocurrency to buy right now because of Binance. Currently it is trading at 15.74$.
NEO is also called the “Chinese Ethereum” and it is an open-source blockchain platform for building DApps and smart contracts. It aims to automate the management of digital assets through the use of smart contracts, with a distributed network-based smart economy system.
Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS. You can get GAS by just holding NEO in your wallet. GAS is used to fuel NEO blockchain transaction. With each NEO Block getting generated, GAS will be distributed to all NEO holders.
Holding NEO is a great way of earning passive income as you can get GAS token for free every month. Currently NEO is trading at 7.54$.
TRON is a blockchain-based decentralized platform based on a cryptocurrency native to the system, known as TRX. TRON’s aim is to build the future of a truly decentralized internet and global free content entertainment system that utilizes blockchain technology.
TRX is one of the most popular coins amongst the traders and it is currently trading at 0.012$.
According to Coin Market Cap :
XRP is an independent digital asset that is native to the XRP Ledger. With governance and fast transaction confirmations, XRP is said to be the most efficient settlement option for financial institutions and liquidity providers seeking global reach, accessibility, and fast settlement finality for interbank flows.
XRP is a technology that is mainly known for its digital payment network and protocol and many major banks use the XRP payment system.
XRP is the third largest cryptocurrency behind Bitcoin and Ethereum and currently it is trading at 0.18$.
The Stellar network is a blockchain-based distributed ledger network that allows for fast, cross-border transactions between any pair of currencies. Stellar has its native cryptocurrency called lumens, which is denoted by the symbol XLM.
XLM is a good a coin which maintain it’s position in top 15 coins and it has been proved to be a good investment for long term. Currently it is trading at 0.05$
Cardano is a decentralized, blockchain based system, powered by the ADA coin, the cryptocurrency which runs on the Cardano platform. Cardano’s maker’s claim that it is the only currency based on sound scientific philosophy, open source software, and peer-reviewed work.
ADA Coin created a lot of hype back in 2017 and it’s price was increased more than 50x from the ICO in the last bull run. Currently it is trading at 0.036$.
10.WazirX Token (WRX)
WazirX (WRX) is a cryptocurrency exchange token which operates on the Binance Chain platform. WazirX has a current supply of 1,000,000,000 with 107,404,950.01 in circulation. The last known price of WazirX is $0.1365 USD (10.50 INR)
WRX is also called the BNB of India. It created a lot of hype during it’s IEO and is expected to give good returns to it’s investors.
I think this is the best cryptocurrency to invest in 2020 because of these reasons.
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