The Best Cryptocurrency to Buy 2020
The current year is probably one of the best years for digital money, investors, as well as traders. Not only many crypto fans witnessed the flawless return of BTC during the bull market phase, but many other major digital assets proved to be the best cryptocurrency to buy.
That is why people started to google any information regarding digital money that can turn out to be the best opportunities for digital money investments.
In comparison to 2019, the next year will not bring any bombshells in terms of cryptocurrencies. Moreover, the digital currency market is very challenging for new coins, which cannot compete with Bitcoin, Ethereum, Tether, Bitcoin Cash, or XRP. These digital assets went through a long path and gained a reputation for the best cryptocurrency to buy right now among investors and traders.
In May 2020, the first and main cryptocurrency expects a reward reduction of 50% – to 6.25 BTC instead of 12.5 BTC for each verified block. However, Bitcoin is likely to bring the dominance index among altcoins to 65-70% and become the cryptocurrency with the largest capitalization on the market. Nonetheless, crypto enthusiasts cannot waste a chance for investments, as they are looking for the best crypto to buy. These factors together will affect the growth of its market value.
Moreover, the official launch of the Lightning Network may cause some moves in the cryptocurrency market. Active use of the Lightning Network will change the BTC ecosystem. This will allow it to be implemented in decentralized applications, a micropayment system, and online stores. Such transformations will eliminate the main claim to the Bitcoin network, as it does not have prospects for further development.
Furthermore, political confrontations between the USA and China can also be a factor for Bitcoin investors to stop investing processes.
Unlike Bitcoin, Ethereum uses practical smart contracts in its work, which are the basis of many projects and the digitalization of transactions and workflow. Its value may increase due to increasing demand for the service, and not the scarcity of the asset, as is the case with BTC. The project itself is very successful, and this allows many investors to enter the crypto market by purchasing ETH, as the best way to buy cryptocurrency.
A significant role in the success or failure of the broadcast will depend on the upcoming fork updates and the early implementation of the Proof-of-Stake algorithm. Regulators’ recognition and the community’s decision to exclude ETH from the altcoin list can also affect growth.
XRP Token is one of the popular trends for banks and financial situations. Ripple is presenting the most significant solution in terms of banking and inter-banking transactions. Despite the fact that many large banks decided to test the Ripple’s product, still, they are not ready to confirm its usage. In a way, it makes XRP not the best crypto to buy right now or these days.
According to several experts in the crypto world, Ripple has good chances to implement its blockchain for numerous financial services or payment systems. This fact can boost the price. However, the fact that Ripple is holding 96% of assets plays negatively.
For more than three years, Monero is always in focus. Mainly, cryptocurrency miners and investors attracted their attention to this digital asset. Monero has good chances to remain the best crypto to buy 2020.
Governments and law enforcement do not favor Monero, but for everyone else, it is a welcome asset. The CryptoNote 2.0 protocol used allows only the owner to know the wallet data (thanks to ring signatures and one-time addresses for a specific transaction only). Demand for such a cryptocurrency will always be stably high, even if users who are not very clean at hand.
Other Cryptocurrencies that Worth Your Attention
Currently, cryptocurrency investors are not limited to options. Above mentioned examples just proved to be a reliable source for investments.
For example, in 2017, when Bitcoin and other major digital assets had bad times, big and middle investors considered Tether, which is a stable coin. Namely, the best aspect of Tether is its connection to the world’s number one currency – a dollar. Since that time, other investors could not waste the opportunity to invest in Tether, as the top cryptocurrency to buy during volatility waves in the market.
Bitcoin Cash, Litecoin, Cardano, and TRON are also popular as successful projects that can change many things in the future. So logically, in terms of investment opportunities, many people consider buying the mentioned coins regardless of their ‘holding’ position.