iCrowdNewswire Nov 20, 2020 2:29 AM ET
Investing in crypto-currency (even if the amount is small) can also bring great returns. In this guide, let us discuss the best cryptocurrencies to invest in 2020.
As the global economy is still hit by the huge coronavirus lockdown, speculators and part-time investors are looking for other ways to store wealth and profits. This means that more people are looking for the best `cryptocurrency` to invest in.
But why start? After all, for beginners, entering the cryptocurrency field is an overwhelming experience. Also, experienced investors may find it hard to keep up with these rapidly evolving technologies and applications.
In terms of investment, knowledge is indeed power. Knowledge can keep you ahead, enabling you to spot new trends before they emerge.
So what are the main cryptocurrencies invested? Will established participants continue to dominate the cryptocurrency market this year? Or is there a brave nouveau riche who will change the status quo this year? Which new digital currencies have the greatest growth potential in 2020?
Therefore, you have decided to buy and invest in cryptocurrencies, but you don’t know which one to choose? Do not be afraid. We will take you through the list of the best cryptocurrencies to consider this month.
Ripple acts as an encrypted currency and digital payment network for financial transactions. It provides secure global financial transactions and is one of the most widely used digital currencies for cross-border payments.
In fact, more than 100 financial institutions are now using Ripple, which makes it an important competitor to the SWIFT network (which allows banks to send and receive transfer instructions). In addition, there are reports that VISA and Western Union may soon use Ripple.
As the grandfather of cryptocurrency, Bitcoin is still the first choice for new and old investors. After three years of downs and ups the price has been stable at around 8,470 pounds, making it the safest choice for anyone entering the cryptocurrency space for the first time.
Although the lucrative payback period seems to have passed, 2020 may still bring some potential. BC Group CEO Dave Chapman said: “Cryptocurrency assets like Bitcoin will only become stronger.”
There was another Bitcoin halving this year. This is a timed event that will reduce the number of new coins generated by the network. For many Bitcoin bulls, this growing scarcity is part of supporting the true value of cryptocurrencies.
Ethereum is a decentralized global computer that runs in its own currency (also known as Ethereum). Ethereum is the second-largest cryptocurrency platform with a market capitalization of US$44.35 billion. Each coin is 298 dollars, which is a long way from the price of Bitcoin. But analysts are optimistic about the future of Ethereum and predict a steady growth in the next few years.
Ethereum has received strong support from some of the smartest investors in the crypto space. Cameron and Tyler Winklevoss bought 120,000 bitcoins in 2012 for $10 per coin. After making huge profits, the twins invested more than 300 million U.S. dollars in cryptocurrency and bought a large amount of Ethereum in the process. JP Morgan, Amazon, and Microsoft Azure have also adopted Ethereum’s blockchain technology.
For blockchain purists, Tron is a decentralized entertainment and content-sharing platform that utilizes peer-to-peer technology. Creators hope to use distributed storage technology to build a free global digital platform that allows users to share content without external intermediaries.
For many analysts, Tron will power the next generation of social media platforms for content sharing and creation. Tron coin is currently worth $0.018.
Litecoin was launched in 2011 and was the first altcoin in the block. It has many similarities with Bitcoin. However, because the network is cheap and easy to maintain, Litecoin consumes fewer resources. Litecoin is another cryptocurrency with production restrictions. There can only be 84 million Litecoins. So far, miners have excavated about 55 million miles. The main selling point of Litecoin is its speed and ease of use. It is 4 times faster than Bitcoin, which makes sending and receiving payments globally as easy as sending an email to someone. Litecoin’s fees are also lower than the fees of credit card companies and bank transfers.
NEO is an open-source blockchain platform founded in 2014 by Chinese computer programmers Da HongFei and Erik Zhang. It is the first cryptocurrency to come out of China and is often referred to as Chinese Bitcoin. NEO and Bitcoin have many similarities. However, in reality, NEO is more agile. Through an open-source system managed by users, investors, and developers, NEO is an effective way to manage digital assets in a decentralized space. It is also possible to digitize actual assets to promote liquidity. NEO is very likely to dominate the Asian crypto market in 2020.
The Chinese government pledged to become a market leader in blockchain technology by the end of last year and fully supported NEO at the press conference. In addition, Chinese banks and financial institutions have been banned from promoting bitcoin transactions, while cryptocurrency exchanges and trading platforms were effectively banned in July 2018.
Titan is a young upstart and has caused quite a stir in the crypto community. This innovative new payment system aims to provide practical solutions to many existing problems related to established cryptocurrencies. It uses revolutionary new blockchain technology with hybrid POW (Proof of Work) and Dynamic POS (Proof of Stake), and a dual algorithm system, which can verify and protect transactions almost immediately.
Titan coins also come with a multi-currency decentralized wallet. It allows you to easily add, send, or receive Titan coins using the sender or receiving address. Titan coins are available for free download on all major platforms, including Android, Web, Windows, Linux, and iOS/MAC.
What is the most important cryptocurrency to invest in in 2020 and in the future?
For the crypto market, this will be another exciting year. Now that you have some ideas on the best cryptocurrencies to consider in November 2020, this is also a great opportunity to start your research journey.
We have listed top cryptocurrencies to invest in November 2020, giving you an overview of a wide range of options. It includes information about established currencies that may achieve slow and stable returns in 2020, as well as some new currencies with significant growth potential.
Your choice will depend on the type of investor you want to be and the size of your budget. Remember, every investment involves a certain degree of risk. Therefore, before making a final decision, invest only in what you can afford and do as much research as possible.
Will you invest in the cryptocurrency market? Which cryptocurrency would you choose to invest in in November 2020? Let us know in the comments below.
Have questions? We’re happy to help.
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