There are over 5,290 cryptocurrencies trading currently with a total cap of $185 billion. Also, take note that there are favorable times to make investments in cryptocurrencies. For instance, you can buy reputable coins at a discount, and the coins are cheaper after a crash.
The cryptocurrency market has been shaken by the current social changes and uncertainties. And, it’s pretty hard to make money in the crypto market when blockchain technology has been destabilized by COVID-19. The 2020 crash to 0 cleaned out a whole $100 billion in the cap market. As a result, Bitcoin prices plunged below 50%.
2020 has been labeled the best year for cryptocurrency investment by crypto enthusiasts. The choice of what crypto coins to invest in can overwhelm you because the market is flooded with thousands of choices. Sorting out worthy crypto from the unfruitful is hectic. We have done research that can help you make an informed decision on the best cryptocurrency to invest in now.
Best Cryptocurrency to Invest in Now
Once you decide to invest in cryptocurrency, there are essential variables that should guide you, such as prices, trading volume, and volatility. Most crypto fanatics will advise that you buy a cryptocurrency and then select a different digital coin and their return will double up soon enough.
However, don’t listen to them! Why? Because you need to do your due diligence as well as research before you arrive at a decision.
Experts agree that other than picking on what seems like the deal in one week, it is essential to find out when a particular currency is experiencing a swing in price. Taking this route will ensure long-term trading successfully into the future other than short-term deals.
Also, you can check out what other traders are buying before taking any risks with your hard-earned cash. Don’t stress yourself if you don’t know how to research the best cryptocurrencies in the market now. Below are the five best cryptocurrencies to invest in:
Any discussion about smart crypto investments or cryptocurrencies should begin with Bitcoin. Often referred to as the King of cryptocurrencies, Bitcoin is the most popular cryptocurrency. Bitcoin aims to become global, a goal they are about to achieve by trading peer-to-peer, digital cash, which is fully decentralized and detached from regulation.
Another major reason why Bitcoin should remain on your radar is that it has the highest liquidity in the crypto space, making it the best suit for beginners. Eventually, you will have no trouble when buying or selling Bitcoin.
Its liquidity keeps the demand high, and you will always find someone ready to buy Bitcoin. Despite Bitcoin’s volatility, it is stable, and its influence is most likely to keep rising in the future.
However, as demand rises, prices also shoot up, and the same goes for Bitcoin as their trading coins will only be 21million. If you invest in Bitcoin now, tripling your return soon might be a guarantee.
Litecoin is the Best Cryptocurrency To Invest in Now has high liquidity and a massive market cap which makes it one of the best cryptos to consider investing in this year. As a rule of thumb, in the crypto world, you should keep off coins with smaller market caps to narrow your investment risks.
Reasons why Litecoin might soon Explode
Litecoin has a limited supply of 84 million coins circulating the market with a block reward of 25 LTC, which is quite high compared to other cryptos. The average mine time is approximately two minutes on the LTC blockchain, which is faster than most cryptos.
Also, it is one of the big four coins that most experts think will remain standing no matter what happens in the future. Litecoin is considered one of the most trusted and popular cryptocurrencies that stands in the competitive market.
The introduction of smart contracts was initially by Ethereum. It was among the leading projects to do so, a move that gave an opening for developers to work on desktop and decentralized mobile apps – dApps. All this happened in blockchain technology and has kept Ethereum among the top cryptocurrencies.
In terms of liquidity, Ethereum takes second place after Bitcoin. Liquidity is a quality that guarantees your selling or buying of the coin. Also, Ethereum has a loyal team and community. Another reason why it is and will remain a solid investment for many years. Thus, it will remain stable and increase in value with time.
Ethereum tokens are known as Ether. In comparison with Bitcoin and litecoin, there is more Ether in existence. The dApp ecosystem is influenced by Ether raising the need for millions of developers and companies to support their smart contracts and also launch applications. As a result, selling Ethereum coins by investors is always favorable.
#4: Basic Attention Token(BAT)
For the last three years, the BAT has taken a seat among the hottest cryptocurrencies. It is utilized as a utility token by the Brave Browser. Also, it is used to virtually tip any helpful person on the internet, especially content writers. It is your decision on how to tip them depending on the information or content they provide you.
The web browser industry is broad, leaving Ethereum a big room for growth.
Additionally, internet users who watch ads can receive their rewards in BAT. Although it is an area that is yet to be explored further, there is potential for growth for both parties: the viewer and the Brave Browser.
NEM is attractive to young investors for two main reasons which also makes it different from other cryptocurrencies. Reason one is, you harvest instead of mining and secondly, you determine who will harvest the next block. Besides NEM being a cryptocurrency, it is also a platform for building apps.
Its transactions are fast, taking a maximum of six seconds for a new transaction and twenty seconds for confirmation with low transaction costs. Also, the power used by NEM is 100x less than Bitcoin to run a node or harvest.
NEM is ambitious with enormous goals making it more than a cryptocurrency. The behind platform aims at revolutionizing most areas such as loans, game data, royalties, smart contracts opening ICOs, and ownership records.
The Best Cryptocurrency To Invest in Now the best to invest in. However, the market is dominated by high volatility. So, you can expect swings up and down before you make any decisions to buy cryptocurrencies in 2020, do thorough research, and verify circulation supply as well as the price.
After researching and you find enough reasons to believe in a project, you can invest for the long term. But, if you find a new project that’s generating a lot of attention, you can invest for a short term and watch how it fairs with time.
Cryptocurrencies have good returns, but you must also have an open mind for losses. Your predictions might not always be right because no one knows how any prices of cryptocurrency investment will turn out.
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