Well, if you are planning to invest in cryptocurrency this year then you will surprise to know that there are over 3000 types of cryptocurrencies out there. So it is quite tough to find out which one is best to gain huge profits. As we all know that 2020 initially has a thrilling year for all of us but with the outbreak of Corona Pandemic the financial and Crypto markets have been affected in a major manner. This pandemic situation has been the main topic of discussion and thus affected the overall economy of the world. This year it has become quite tough for investors and traders to choose for the best cryptocurrency coins for investment.
As in the surge in the blockchain industry, a number of businesses are creating crypto exchange applications to make the process of transactions easier. If you too want to make an application then you can hire Mobile App Developers from a leading mobile app development company to start the process.
But don’t get panic as today we are going to discuss the list of top 10 cryptocurrencies that you can choose for your investment in 2020 and beyond. Before discussing the list it is good to discuss some statistics related to cryptocurrencies to get a clear reason about why you should invest in crypto this year and
Reasons to Invest In Cryptocurrencies in 2020
Without any doubt, cryptocurrencies are the future of finance and most of the people also believe this fact. These digital currencies offer numerous benefits as compared to long-established money patterns. These currencies offer lower fees, simplicity, and high transaction speed among other benefits.
In case as an investor you are looking for the reasons to invest in the cryptocurrencies then there are primarily a few reasons to consider:
No investment barriers as you can choose the amount as per your choice. This way everyone out there can purchase cryptocurrencies of their choice easily.
The cryptocurrency exchanges are accessible 24/7 so that you buy and sell, and cash out your assets at any time as per your convenience.
The blockchain industry is transparency and all the records are accessible for everyone around the world. This blockchain industry provides an utmost level of transparency to its investors.
The risk factor with digital currency is very low. Due to diversification in the currency, you can easily diversify your portfolio in order to lessen risks.
Digital currencies offer very fewer transaction fees as compared to other traditional investments.
Fascinating Cryptocurrency Facts
According to Moscow based cryptocurrency firm Kaspersky, it is estimated that about 19 percent of people have bought digital currency by 2019.
In 2017, the price of Bitcoin boosted by about 2,000 percent. It was the highest value of Bitcoin till then.
In the marketplace, as of October 8, 2019, there are around 2,957 diverse cryptocurrencies accessible.
According to the latest reports by Bitfury UK, the US, and Hong Kong are the countries with the major crypto exchanges.
By 2023 the Blockchain market size is expected to scale to $23.3 billion thus making blockchain technology one of the most significant technologies in the world.
Also Read: 10 Ways To Smartly Invest in Cryptocurrency
Top 10 cryptocurrencies in 2020
Bitcoin is one of the best cryptocurrencies out there to invest in 2020. It was the famous cryptocurrency on the market. You can gain huge benefits by investing in this currency from the largest markets and it is among the most greatly traded digital currency to date. Bitcoin is leading all other currencies in the market due to its liquidity and retail adoption features. In the upcoming years, the value of the currency will definitely increase as compared to its competitors.
According to the latest market data, Ethereum is the second-largest digital currency in the market after Bitcoin. The crypto has experienced a huge surge in its market due to its changed network system. The currency has seen huge gains since its inception in the market in 2015. At present, it is only behind Bitcoin in regard to market value. From some time it has become one of the most broadly discussed cryptocurrencies in the world.
This currency is totally different from its competitors in the marketplace. Ripple (XRP) is one more cryptocurrency that is gaining huge market recognition worldwide due to its wide adoption. There are a number of technologies rolled out by Ripple that has helped the banking sector in quicker, cheaper, and trouble-free cross-border transactions. The currency has announced a number of partnerships with foremost money transfer services across the globe and will announce more partnerships with financial markets in the future.
Yet EOS is another cryptocurrency with smart contracts, and it is gaining huge market recognition. This currency is credited with the first blockchain operating system, thus offering a range of decentralized applications that live on the blockchain and similar processes. This technology is making the transaction processes faster with superior scalability than other competitors. The transactions conducted on the EOS network are free. Most of the competitors, of the currency, charge a transaction fee for transferring coins or tokens from one Blockchain wallet address to another.
Bitcoin Cash (BCH)
Bitcoin cash is the 4th leading currency in the marketplace. It is a branch of Bitcoin’s original project. The currency offers slow transaction speed as compared to others in the market. Actually, the Bitcoin Cash (BCH) holds a significant position in the record of currency coins because it is one of the first and most flourishing divisions of the bitcoin project. This currency was developed using customized code from the Bitcoin project that approved larger block sizes for promoting the transaction time and scalability.
This currency at present trades in the market at a rate of around $84 USD. The price of Litecoin is expected to grow in the upcoming time. The actively traded currency is, again and again, making its position in the top 10 cryptocurrencies according to market reports. Litecoin boasts a quicker transaction time due to its diverse algorithms than the leading Bitcoin currency.
This currency differs from Bitcoin in a simple manner. It is a stable coin that simply states that it is backed by a reserve assert and intended to offer price constancy worth $1. This currency was launched in the market in 2014 to facilitate the digital currency in the market. It is also one of the first blockchain-enabled platforms to make easy the digital use of usual currencies. This currency driven platform has boosted the blockchain technology in the digital economy.
It is the best currency to invest in for getting huge benefits in the future. AS you know that most of the currencies do not offer privacy as these are get tracked by their owners and government from time to time to know the exact data. Even the leading currency Bitcoin does not offer you privacy.
Zcash is the best way for those looking for exceptional privacy. Just like Bitcoin, Zcash has a fixed supply of 21 million ZEC coins. This coin differs from other currencies due to privacy capabilities. It was developed mainly for peer-to-peer transfers.
Since its inception in the marketplace Stellar is one of the well-liked projects out there. The currency is continuously bringing changes in its system and development for getting stronger. Stellar is among the most reasonably priced cryptocurrencies to invest in.
It is the best cross-border protocol for transactions.
If you are looking for a multi-chain platform then you can choose Ontology. The main goal of this currency is to boost the adoption of blockchain mobile app development among the business community. If you have no prior information about this currency then you can also take the help of experts to get blockchain solutions on the matter.
In nutshell, we can say that cryptocurrencies are the upcoming future of money. Believe it or not, upcoming years see a huge surge in the market trends related to the blockchain industry. However, it is not easy for people to invest in this currency without any prior knowledge and understanding of them. So it is important to learn about the market trends related to the cryptocurrency to start the investment on a positive note. Moreover, if you are carving out for blockchain application solutions then connect with Fluper a leading mobile app development company in abu dhabi , and get customized blockchain app solutions in a cost-effective manner.