Bitcoin remains the number one choice for both the existing as well as a new investor in the cryptocurrency sphere. Besides, there are now plenty of other Cryptocurrencies that are gaining trend in 2020.
Now plenty of investors are quite hopeful that the Bitcoin price will reach the new high record this year. However, there are many competitors this year that prove to be the good alternatives for the investors to invest in.
So, it’s worth learning the cryptocurrency that you should invest in 2020 and the reason behind it.
Read more about Difference between Bitcoins and Ripple
In the year 2020, there has been an estimation that the Bitcoin will be reduced to the half 6.25 BTC from the current 12.5 BTC per new block.
However, it is still expected that the currency will be continuing to dominate in the market of cryptocurrency with the 65 to around 70% share in the year 2020.
Active users often like the lightning network of Bitcoin ecosystem and its implementation in the decentralized applications in the E-Commerce platforms as well as micropayments, thus making it trending.
Ripple proves to be the all-time favourite cryptocurrency of many investors due to the reason that it is probably the most used coin for the cross-border payments that also involve the Financial Institutions, including banks. Besides, it is working as a primary currency for performing the transactions within the crypto ecosystem. Besides, the network keep on spanning the range of the popular products like the rippleNET, xRapid, and xCurrent.
- 3. Ethereum
When compared to Bitcoin, ethereum is based on the practical smart contracts that is applicable in mini project for the digitalization of the transactions. Besides, the currency value often keeps on increasing due to the increasing demand for the blockchain as well as functions.
This is better than the deficit of the asset as it happens with BTC right now. There is a major role in the success or failure of the currency being dependent on the upcoming updates as well as rapid implementation of the proof of stake algorithm. There is also the regulation by the regulatory organisations and community to delist ethereum from the list of altcoins.
Read more about How much money do Bitcoin Miners Make
This project is often included in the different investment ratings of cryptocurrency for this year. The cryptocurrency breaks plenty of stereotypes that are inclusive from being the first open-source token originating in China. Besides, it claims to transfer the traditional financial system by the combination of the digital as well as traditional modes.
It also is unique in terms of the superconducting mechanism, thus allowing users to trust the funds by means of a decentralized platform. The application of NEO is beyond doubt and is rapidly growing in demand. NEO can also hold the ISO, but so far it is trading around $1114 token. The current price in the market is $1114.
This is much cheaper than the Bitcoin, and ethereum but it hasn’t fully developed the market potential.
For this reason, many investors think that investing in litecoin could bring a huge opportunity for all of the clever businesspeople. What’s more remarkable is the fact that the cost is somewhat lying between $ 100 or more than that.
So, there is not too much risk in investing in it again. There is also the technical preconditions for becoming the global transaction network that is preferable according to certain investors.
Read more about How does bitcoin work?
- Binance Coin
This is the newest token of the lot and has its origin nation only just two years in the market. Secondly, unlike other tokens, this is the one that had its introduction by the Crypto exchange Binance. The manner in which the coin was launched sometimes proves to be suspicious. But, there are also doubts clearance in terms of the commitment of Binance for helping the cryptocurrencies as well as the blockchain technology mature. This year, people are thinking of investing in Binance because it is having the advantage of the price discount on the transactions. The largest Crypto exchange in the world is now attracting plenty of investors to invest into.
Investing in cryptocurrencies prove to become a highly profitable business opportunity. But, you must always keep in mind the latest market trends as well as understanding how to go ahead with buying or selling on time. Hopefully, the post has helped you get enough knowledge about the digital currencies that are proving to be better this year.