Investing in crypto takes time. Besides being a new medium of exchange, several coins available are making it hard to settle on the ideal one. To find the right one, you should study its white paper, market capitalization, prospects, and even competition. It takes so much time.
This article does the hard work on your behalf. After considering all the underlying factors, here are the best ten cryptos to invest in 2020.
Bitcoin remains the undisputed standard crypto in the world. Although the coin has faced a challenging year trading the lowest, it has also clawed back to sell the highest. That is not all, though; the currency is still up for more gains with the possibility of hitting $15k.
Other than value increase, the other reasons to invest in the coin is its headed mainstream. With a limited supply of $18million and unlimited demand, the price will shoot. It also looks to gain from the future worldwide crypto regulation that will decimate the other illegitimate coins.
Even though Bitcoin currently has no crypto peers based on value, Ethereum has its own as an alternative coin. The coin uses smart contracts to implement several real-life transactions making it a top choice for financial services.
While the coin faces an unassured future over the upcoming folks, it is an ideal choice. Also, most people who can’t afford Bitcoin opt for it, giving it a significant lifeline.
While Bitcoin and Ethereum take the lead in crypto evolution, NEO takes pride as a coin of both worlds. The open-source operating system of the currency has enabled it to transform the traditional banking system by combining it with digital assets.
The coin is highly secure, with most established institutions looking for its solutions. Even though it has been stable on the $10 per token, the faster take-up rates look to improve it soon.
Touted as one of the coins for the future by most investors, EOS is an ideal coin for anyone looking for long term investments. Even though working in the same perimeters as that of Ethereum, the currency eliminates the scalability issues. It looks like the coin that most prominent tech companies would use when moving to the blockchain world.
Even though some investors won’t like the slow growth, the coin plays by the rule of the books. It invests in value, which comes with an assured return in the end and safety for investments.
Ripple is all about revolutionizing the world of financial transactions. By now, the coin has taken the lead in improving the transaction speeds making it an ideal partner for most existing traditional banking facilities.
The coin is ever on a growth path with partnerships like the one with Western Union money transfer, making it an ideal investment. It also invests in continuous development such that it has already replaced SWIFT for faster and cheaper transactions.
Remember, though, the coin is a long-term investment piece due to the slower value increase.
A subsidiary of Ripple, Stellar provides the same return prospects as its parent coin. The main difference with the Ripple is that it is an open-source platform, while Ripple is more centralized.
Ripple comes with a distributed network that supports faster and cheaper cross-border transactions. It allows the different currencies to pair at the best market rates.
Stellar is an ideal long-term investment, as it is the ultimate solution for the world’s unbanked population. By supporting any amount of exchange, the coin will help the over 1.7 billion people without access to banking facilities.
7. Cardano (ADA)
Founded by one of the influential crypto developers, Charles Hoskinson, Cardano is a multipurpose coin. It allows for both peer-to-peer transactions on the platform and smart contracts.
The currency is built on high technical grounds with top security, scalability, and flexibility features.
The other reason to invest in the ADA is its fast growth in a real-world application. For example, New Balance is looking into the possibility of using the system for sneaker authentication. Several other big companies are also likely to venture into the coin.
8. USD Coin (USDC)
USDC Coin is one of the leading stable coins, and most investors believe it cannot earn them any money. Well, not if you want to operate like a mini-bank. The stable currency with a value of $1 allows you to lend and gain interests.
The demand for USDC has surged in recent times, with most people looking to blockchains over the coronavirus. With its circulation rising by over 65% per cent in the past months, the coin fetches decent returns.
You can also opt to deposit it in a lending crypto platform like BlockFi and Nuo then earn interests like you would in any other bank.
9. Dash (DASH)
While most cryptocurrencies have faced a tough first half trading year due to Coronavirus, Dash has become more influential. It has continually grown over the months with even more prospects. The coin takes pride in having strong technical foundations and a small circulating supply for stability.
Even though quite valuable, smart money has been providing the coin at some discounted prices. Currently trading at over $70 with a market supply of $0.4m, the currency is worth every investment.
10. Monero (XRM)
Not many investors have looked to Monero for investing even though it is one of the most prospective coins in 2020. Trading in the double digits of around $50, the coin is a stable currency that offers the needed return on investments.
The other important reason to consider Moreno is privacy. Anyone who values their privacy and is looking for constant anonymous transactions, Monero is the solution. It comes with a non-traceability feature such that no agency or government can locate you.
Lastly, it comes with a limited supply of 17 million tokens in circulation, providing stability.
Most cryptos are expensive and malinvesting is costly. Use this list to compare the top 10 coins when making an investment decision.