Top 5 cryptocurrencies to invest in 2020
2019 brought major changes in the perception of cryptocurrencies around the world. Large banks have started to take into account the ever-growing market based on digital goods. The coming year may turn out to be a breakthrough for cryptocurrencies – mainly thanks to legal regulations introduced in many countries and plans to release stablecoins by world banks. But what is worth investing to get profits? Which cryptocurrency is best to invest in 2020? We present five cryptocurrency offers that can be a great investment to buy. Random order! 🙂
Monero – where the FBI doesn’t go
Our list opens cryptocurrency belonging to the group of so-called private coins. Monero ensures 100% anonymity of transactions because wallet addresses and amounts transferred are hidden. Due to the total lack of control over the transfer of funds and high anonymity, 3 exchanges have withdrawn from their offer this cryptocurrency. However, they are not related – this action looks more like a time coincidence than a larger plan. Will Monero be the best cryptocurrency to buy in 2020 – and is it worth paying attention to?
The reduced availability of cryptocurrency on stock exchanges does not have to be bad – quite the opposite. Having a rare and desirable means of payment can benefit both investors and stock exchanges that will remain with its support. Lower supply with simultaneous constant demand may result in a significant increase in price – and this is the scenario we expect for Monero for 2020.
Monero is also the best mining cryptocurrency – thanks to the CryptoNight algorithm, you don’t need as much computing power as in the case of Bitcoin. Also, mining the block is much faster in this case – it takes about 2 minutes. You can also dig Monero using a mobile phone – no graphics card needed. The prize is on average $117.36 USD for the excavated block.
Ethereum – black horse of cryptocurrency market
The second suggestion on our list is a cryptocurrency, which needs no introduction. Ethereum, created by Vitalik Buterin, is the second most recognizable cryptocurrency in the world after Bitcoin. However – unlike his “older brother” – this is not just a digital currency with a variable value. What makes Ethereum different and why is it worth investing in it in 2020?
Ethereum is not only a cryptocurrency – it is also a platform that allows creating decentralized applications and tokens for its users. This works in her favor – currently, it is in second place in the CoinMarketCap and CoinPaprika rankings, just below Bitcoin. It is estimated that most tokens currently in circulation are based on the Ethereum platform.
An investment in Ethereum, especially at the beginning of 2020, can prove very profitable. The recent Istanbul hard fork, which introduced significant changes to the network, is one of the factors that significantly affect the price. Important is also the fact that the platform is planning another fork this year to create a new cryptocurrency.
Based on data from previous years, it can be clearly seen that only 8 months after the creation of Ethereum Classic (hard fork) the price went up. Thanks to this, we can conclude that this year’s changes will bring another price increase – that’s why it may become the best crypto to invest in 2020.
XRP – Ripple in the service of banks
The third position in our ranking is occupied by cryptocurrency, which stands out from the background of its competitors. XRP is fully centralized and used by banks through the Ripple payment system – it enables fast funds transfers (transaction settlement time is only 3.7 seconds). XRP is fully compatible with both cryptocurrencies and FIAT currencies – it is a bridge connecting these two worlds. Is it profitable to invest in digital goods that transfer funds? Why XRP could be the best choice for this year?
XRP is particularly strongly promoted in the United States, where various financial institutions use it with Ripple. If this cryptocurrency becomes a link between the world of cryptocurrency and big banks, it can prove high profits – especially for investors. A scenario in which quick bank transfers will only be carried out using XRP is very possible – in this case the price will increase several times.
There is also a completely limited supply in favor of this cryptocurrency – 100 billion units have been produced and this number will not increase. The flow of funds is controlled by Ripple, which is to ensure a slow and calculable increase in supply with demand. XRP can also not be mined by users – the only way to get this cryptocurrency is to buy it.
Maker – profitable security
Another of our proposals is Maker – a token working on the platform with the same name, which is designed to maintain the value of stablecoin SAI as close as possible to $ 1. Thanks to this, its price is quite dynamic – in the period of highest growth it was about $1600. Holders of this token can also – by voting – decide on the future of the company. An interesting fact is that Maker did not have an official ICO – it was sold via online forums, including Reddit.
Maker allows you to generate SAI stablecoin using Ethereum – it is a so-called security token. This token is also the youngest asset in our ranking – it first appeared on the stock exchanges on January 30, 2017.
Investment in young and promising projects often turns out to be a bull’s-eye – this can also be the case here. A very dynamic price change can work in this case for the benefit of the investor – in a short time you can gain up to 20-30% of the initial value.
Dash – choose who you want to be
Our list closes with cryptocurrency, which is by far the closest in construction to Bitcoin, but with a much more extensive structure. Dash gives its owners a lot of autonomy – for example, a service has been built-in that allows you to mix coins and thus keep the transaction anonymity. It is also possible to make an immediate and irreversible transaction that only takes a few seconds.
Dash is another link between the worlds – it allows the privacy of transactions, but does not enforce it, which makes it only a partial private coin. As a result, it can become a convenient alternative for all those who care about their anonymity on the Internet – and as you know, increasing demand results in a price increase. Dash will be the best crypto to invest for anyone who values privacy and speed.
Our summary is not investment advice – these are just our types. Remember that cryptocurrencies are a very volatile market and every investment involves risks that you take at your own risk.
Have you read the whole thing but still don’t know what to choose? Take a look at our article about Bitcoin price prediction for 2020 – there you will find a lot of factors that can help you in choosing the perfect investment for you!