Are you unsure about which cryptocurrency to invest in 2020? This is a common phenomenon amongst newcomers because the crypto market is very volatile to say the least, and each investment is ridden with risks. At the same time, cryptocurrency can give you fabulous returns provided you are able to choose the right one. Likewise, you may suffer unbearable losses when you make the wrong choice for investment. The only way to be sure is to do your own research and monitor ongoing developments in the crypto space to know what is happening in the digital currency you have invested in.
Best Cryptocurrencies for Investment in 2020:
- Bitcoin: You can never really go wrong with Bitcoin because it has always been a pioneer in this field. It was created anonymously in 2009 and the concept of blockchain came to the fore for the first time. The blockchain refers to a public ledger for storing records of all verified transactions. You can own and trade the Bitcoins seamlessly and it has been rightly called “the currency of the Internet”. Its technical competence with Bulletproofs, SegWit, Confidential Transactions, Mimblewimble, Sidechains, and Lightning Network gives Bitcoin an edge over all its competitors. Bitcoins are also traded using automated software applications which augment the trading. This well written bitcoin trader review will help you learn about the working style of the automated software.
- Monero (XMR): This is a private and secure cryptocurrency that was launched in 2014 and is completely untraceable. You can enjoy complete control over funds and there is total privacy; nobody will get to view or track your balances and transactions. Here, transactions are confirmed through distributed consensus. These are then recorded immutably on blockchains and no third-party trust is required. Monero makes use of characteristic “ring signatures” and stealth addresses to keep the amount of transaction, destination and source completely discreet.
- Litecoin: This is a decentralized and open-source fork of the original Bitcoin that was created in 2012 by Charlie Lee. It works like a test bed for the Bitcoin because it has initiated the implementation of atomic swaps, SegWit etc. Even in a slow moving market, Litecoin manages to carry out almost 25K transactions on a daily basis. Developers are working on improving its privacy and scalability.
- Binance: This is popularly referred to as Binance coin or BNB and is Binance exchange’s native crypto coin. This is more recent, having been introduced in 2017, but is steadily expanding and all set to launch the Binance Chain and Binance DEX. This crypto coin benefits users since every quarter the users use 20%of profits to re-purchase BNB coins, and then destroy these to produce scarcity in order to reward BNB owners. Apart from this unique way to reward BNB coin holders, the development of the Binance DEX and Binance Chain is expected to grant BNB more utility, that in turn will escalate its prices in 2020 and later.
- Cardano: This is the 3rd generation blockchain, an open-source platform like Ethereum, for creating decentralized apps and smart contracts. This is designed to be more governable, scalable, and interoperable compared to the Ethereum. It is a good crypto coin to invest in for the long term.
Are you unsure about which cryptocurrency to invest in 2020? This is a common phenomenon amongst newcomers because the crypto market is very volatile to say the least, and each investment is ridden with risks. At the same time, cryptocurrency can give you fabulous returns provided you are able to choose the right one. Likewise, you may suffer unbearable losses when you make the wrong choice for investment. The only way to be sure is to do your own research and monitor ongoing developments in the crypto space to know what is happening in the digital currency you have invested in.
