Cryptocurrency has remained prevalent over the past few years. Pioneered by Bitcoin, this fast internet medium gave birth to several cryptocurrencies all over the market such as Ethereum, Litecoin, Ripple and more.
With over 4,000 cryptocurrencies available, select which one suits you the best. Here at BTC Post, we will help you distinguish the most ideal cryptocurrencies based on your lifestyle and preferences. Whether you’re a beginner or an expert in the field, our website will provide you with additional knowledge that you can use in your crypto venture.
The demand for cryptocurrency has paved the way for others to emerge after the successful launch of Bitcoin in 2009. With the help of curiosity and determination, many people are now taking cryptocurrency to a whole new level. Although there are still some skeptics, if it will be based on odds, cryptocurrency can become the new currency of the future generation.
In this article, we have listed down the current status, upgrades and the best cryptocurrency to invest in 2020. Get to know more about the industry only here at BTC Post. Check more details below!
Current status of the crypto market
The stock price of the crypto market has experienced a large increase and decrease every year. However, crypto experts say that 2020 is the best year to invest in cryptocurrency because it generated a 40% increase in market capitalization according to Matt McCall, an acclaimed trend investor and financial analyst who commends purchasing Bitcoin coins and is well-known for his predictions about the market.
Despite Bitcoin’s release in 2009, the technology also experienced difficulties during its launch because the public were skeptical about the new invention until 2013.
In 2013, Bitcoin experienced a huge market growth that paved the way for 2017’s market capitalization of $21 billion alongside other cryptocurrencies. Many people are now placing digital assets in the blockchain, hoping that it will double in no time. As cryptocurrency progresses, the market capitalization for 2020 has now reached more than $454 billion and is continuously moving forward.
Although Bitcoin was most people’s first love when it comes to cryptocurrency, competitors like Ethereum, Litecoin and XRP are also on the move to contribute to the currency of the new age. Since it comes with convenience and offers real-time processing, users continue to grow every year.
Cryptocurrency uses a blockchain technology that helps transport coins in seconds and can be verified by anyone in the community. Once it has been confirmed, the data will proceed to the ledger, making it visible to the public. With this, all transactions are accomplished with transparency and handled by no single authority. This also helps in determining the possible growth of the market in accordance with the movement of coins in the blockchain.
Needless to say, choosing the best cryptocurrency is difficult for beginners who have little knowledge when it comes to buying, selling and trading digital coins. But don’t worry, because BTC Post is here to provide you the best cryptocurrencies to invest in 2020. Check them in the next section.
Top cryptocurrencies to invest in 2020
Most experts think that these cryptocurrencies will soon dominate the digital market. Feel free to check their benefits and usage if they fit in your preferences. Here are the following cryptocurrencies you can invest in 2020:
Bitcoin continues to dominate the market despite its release 11 years ago. When you say ‘cryptocurrency’, many would say ‘Bitcoin’ without batting an eyelash. The legacy this cryptocurrency has generated to the market has increased rapidly over the years, taking over charts and contributing greatly to the digital space of the cryptomarket. In fact, it gained the title ‘The King of Cryptocurrencies’ due to its undeniable popularity across the platform.
Purchasing and investing in Bitcoin is ideal since it occupies the largest and highest liquidity in the whole crypto market. Experts envision that due to its rising influence, the increase of Bitcoin users will skyrocket every year with an estimated additional market cap of $21 million in 2021. Even before 2020 ends, the price can increase up to $50,000 based on the current trends in the market.
Make life easier with Ethereum. As one of the best cryptocurrencies to invest in 2020, Ethereum allows users to transact hassle-free with anyone across the globe through desktop and mobile decentralised applications (DApps). They are the pioneer cryptocurrency who launched the smart contracts idea that paved the way for their popularity to this day.
The smart contracts are unique codes packed with conditions that are generated by the blockchain before transferring one’s coins to another. It also makes it easier for both parties to receive the money with no hassle and low processing fees. Users no longer have to line up and use the traditional banking systems that would take a day or two to process. Instead, they can simply send their money online and wait for it to be reflected on the public ledger.
Ethereum is also the second cryptocurrency to have the highest liquidity in the crypto space. Since it is already established, experts predict that Ethereum will continue to grow and become more stable in the upcoming years. That is why investing on this platform will be a great opportunity for those who are still beginners or even the experienced ones in the industry.
Ethereum coins are often used in the crypto space compared to Bitcoins and Litecoins. Meaning, they will be more in demand not only by users but also developers in the future.
Other than Bitcoin and Ethereum, Litecoin accumulated high liquidity and huge market capitalization in the crypto space in 2020. It has a circulating supply of 84 million coins and 25 LTC block reward in the crypto market, which makes it a threat for Bitcoin that only has a 21 million supply.
Litecoin also offers a fast and reliable transaction processing that can be done within two minutes, unlike other cryptocurrencies. This cryptocurrency is also considered as one of the top crypto companies used in Coinbase. Experts predict that it will be in demand in the future since the crypto market is continuously growing.
NEM emphasizes on the harvested coins and the next person to accumulate the transferred block unlike other cryptocurrencies that focus on mining. It was released in 2015 and has been recognized for its spectacular features, advantages and innovations. Their mission is to provide an efficient way to manage assets without compromising large transaction fees.
NEM is operated by NEM.io, a Singapore-based non-profit organization, and was originally a part of another cryptocurrency platform called NXT. However, the organization saw the opportunity of maximizing NEM and transforming it into a faster and reliable platform. Now, NEM is running on its own and has immensely diverted itself from its counterpart NXT.
Other than cryptocurrency, NEM is also used to create platforms. It performs at an average speed of six seconds to transfer and 20 seconds to confirm per crypto transaction. Additionally, the experts behind this platform plan to leverage more by adding features like game data, smart contracts, ownership records and more.
Basic Attention Token, or mostly known as BAT, has been the apple of the eye of many crypto enthusiasts since 2018. Instead of just simply buying, selling and trading like in other cryptocurrencies, BAT takes advantage of the fast-paced internet medium. It leverages on content creators who spread helpful information on the internet by giving them tokens.
Additionally, you can also be rewarded with BAT even if you just watch advertisements. Considering how people, especially the younger generations, use the internet nowadays, it is most likely that BAT will flourish and reach its peak in the years to come. When this huge transition came to view, you will surely appreciate the prediction of experts in 2020.
According to ‘cryptocurrency in 2020’ analysis, Ripple, or also called as XRP, is also one of the competitors of Bitcoin in terms of producing effortless, hassle-free transactions on the web. In 2017, they accumulated a market growth of more than 36%, marking its way to the top alongside Ethereum and Litecoin.
Additionally, Ripple is considered as the third largest cryptocurrency in the world as per market capitalization, generating a current value of more than $35 million. Although one XRP is lower compared to the price of a BTC, still, many people are encouraged to place their investments on the platform due to its easy-to-use payment system.
Even financial institutions such as JP Morgan and American Express leverage on using Ripple as a form of payment as well as other banks all over the world. According to experts, 2020 is the best year to purchase coins from Ripple because the cryptomarket lowered to a staggering amount of 70% compared to its price in 2017.
Browse through our website to know more updates about cryptocurrency in 2020. Have fun reading articles and explore the vast field of crypto with BTC Post today!
Bitcoin (BTC) $ 34,338.00 0.2%
Ethereum (ETH) $ 2,152.26 1%
Tether (USDT) $ 1.00 0.07%
Binance Coin (BNB) $ 297.74 1.62%
Cardano (ADA) $ 1.20 2.47%
XRP (XRP) $ 0.598684 2.27%
USD Coin (USDC) $ 0.998991 0.13%
Dogecoin (DOGE) $ 0.196473 1.72%
Polkadot (DOT) $ 13.35 3.41%
Binance USD (BUSD) $ 0.999323 0.12%