A year ago, we wrote about the top 5 best cryptocurrencies to invest in 2019. It is worth refreshing this topic and looking at the current market situation. So if you’re planning on buying digital assets stay with us and check our list of the best cryptocurrency to invest in 2020.
Many analysts believe that digital assets are the future of the financial sector. And although this may happen in a few or more years, this statement is not unrealistic. Digital assets offer many advantages over traditional FIAT currencies. The main positive features include transparency, speed of transactions, and lower fees. In the cryptocurrencies market, we have a lot of options to invest.
Looking at the cryptocurrencies from the investor’s perspective, one can wonder why it is worth buying it? There are several main factors. The positive aspect of digital currencies is their liquidity. The market is open 24 hours, 7 days a week. So you can trade, deposit, and withdraw funds at any time. Another advantageous factor of virtual money is its transparency. Blockchain technology records all transactions and is available to everyone. This gives investors the right view of the market. A large number of digital currencies allow for easier diversification of the hidden portfolio in order to reduce risk. Virtual assets also provide lower fees compared to traditional investment forms.
What is the best cryptocurrency and how to choose it? Once you know what factors are conducive to crypto investments, it is also worth paying attention to how to check the potential of digital assets. An important indicator that you must take into account when choosing virtual money is its market capitalization. This is the value of all issued digital coins of a particular crypto. High market capitalization means a large volume of coins participating in active transactions. This affects the interest of investors. The level of liquidity is also an important issue. If it is higher, the crypto can be sold faster at market price. This indicator shows the actual demand for individual digital currencies among traders. So do you want to know about the best cryptocurrency to invest in 2020?
Bitcoin is still one of the most popular cryptocurrencies that you can invest in. Currently, BTC accounts for approximately 65% of the global crypto market capitalization. Bitcoin has a limited supply. BTC Coins will only be 21 million. This means that even having one fraction of this crypto can give you great value in the future. Bitcoin records the highest daily trading volume on the various platforms.
The introduction of BTC futures allowed for advanced price analysis and created opportunities for institutional investors to participate in the market. An important aspect is also BTC’s technical competence, which is improved on a daily basis. This further strengthens the position of this digital asset in the market.
Buying Bitcoin on the CoinCasso crypto exchange platform is simple and fast. You can use many options to store this crypto. Therefore, there is no reason not to decide to invest in Bitcoin.
ETH is also an important crypto in the market cap. Although Bitcoin is the most popular virtual money, Ethereum is by far the most influential digital asset. Why? Blockchain ETH enables the development of many promising projects. Ethereum is an open-source, distributed computing platform, which is best known for its smart contracts functionality. The Ethereum network enables programmers to create decentralized applications. Both the Tether and the Augur operate in this system. Therefore, the strength of this crypto is connected to its network.
Ethereum’s long-term potential is based on its ability to deliver smart contracts in every field. Soon, ETH is to move from Proof of Work to Proof of Stake, creating the Ethereum 2.0. The PoS network is effectively leveling out the energy-intensive mining process. This modification is planned to start in July 2020. Successful modernization is likely to increase the number of Ethereum investors.
The current ETH price of $235 makes it an available investment for anyone starting out in the crypto world. And while it is unlikely that Ethereum will match the price of BTC, analysts still see great potential for this crypto.
According to market capitalization, XRPRipple (XRP) is 3 in the ranking. This is one of the most promising investments on this list. Its robust technology and network quickly open up new opportunities in international trade, banking or payment networks.
MoneyGram’s money transfer giant received over $11 million from Ripple (XRP) in 2019 to use his blockchain technology for payment solutions. In February 2020, Azimo announced that in order to improve the transfer speed for its customers, it will also launch a money transfer service at Ripple’s request.
The list of companies that use XRP services is long. Experts believe that the year 2020 will result in greater adoption of this crypto and its price will automatically increase.
LTC is another cryptocurrency worth noticing in 2020. Litecoin is one of the fastest and most affordable payment cryptos.
Compared to BTC and ETH, LTC has great potential with a much more affordable price level. Each LTC unit is currently trading for less than $100, giving more investors the opportunity to enter the market.
The price of Litecoin depends largely on its acceptance. It has recently been confirmed that Litecoin will be integrated into ATMs in South Korea under the MeconCash partnership.
Cardano is a relatively new crypto. This technological platform had its premiere in 2015 and its main goal is to become a home for financial applications on a huge scale.
Like most cryptocurrencies, ADA is designed as a fast and reliable tool for value transfer. The Cardano network is built on a layer basis, which provides great flexibility for updating. Cardano also allows for the development of dApps, the crypto community expects many services to develop around it. This will increase the ADA value. Cardano is based on a strong community of people. The company has even partnered with the University of Malta to offer studies on the programming languages used in the Cardano network.
Since 2014 we can observe the development of Stellar projects, which position on the market is still developing. Thanks to its low price this crypto is a very affordable asset for investment.
XLM is a decentralized protocol for cross-border transactions, which runs with a network of 100 billion coins. The ultimate goal of Stellar is to replace the SWIFT system, which disrupts the global money market. Through XLM coins, the Stellar network enables cross-border transactions between any currency pairs. A characteristic feature of XLP is that it serves as a backbone for other digital assets. This gives a great opportunity for further development and scaling.
Do you think crypto gives you privacy? It’s worth thinking about. If you are particularly interested in this aspect, think about investing in Zcash.
Like Bitcoin, Zcash has 21 million ZEC coins in its supply. Apart from issues related to private ZEC is no different from other digital assets. Zcash is designed mainly for peer-to-peer value transfer.
The Zcash price is closely linked to overall market performance. In 2019, this private crypto reached its highest value of $112, which was influenced by the dynamic change in the price of BTC in the middle of this year. If the price of Bitcoin rises, it is likely that Zcash value will benefit from it.
Tron created in 2017, quickly became the most promoted project in the crypto world. Tron’s goal is to create a free, global digital entertainment system that enables users to publish digital content easily and economically.
Complicated? The Netflix platform is worth a look. In fact, the company focuses on content and disseminates it through influence to a large audience. For content creators, Netflix web hosting is expensive. The idea of Tron is to have no intermediaries and allow everyone to use this platform, which uses blockchain technology.
For artists, this model gives them a unique opportunity to reduce the distribution prices of their projects. The recipients receive lower fees. TRX is crypto dedicated to this project. Therefore, it is worthwhile to analyze the whole concept of this undertaking.
Around the world, the importance of cryptocurrencies is growing, so it is worthwhile to decide to invest in these assets taking this aspect into account. The investment potential of many cryptocurrencies is enormous. Before buying, it is worthwhile to analyze a few digital currencies in terms of their current cryptocurrency market position. Appropriate research is a guarantee of a good investment. You can buy some of these crypto assets on the CoinCasso market. So do not wait and decide what is the best cryptocurrency to invest in 2020.
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