The question arises every year in which coins will offer the greatest potential and what are the Best Cryptocurrency To Invest In. In this article, we would, therefore, like to take a look at which altcoins are the Best Cryptocurrency To Invest In 2020.
First of all, as The Crypto Basic Team, we would like to point out that the following information cannot be considered investment advice. We only share our thoughts about the crypto market. Readers are encouraged to form their own opinions on the content of this website and to conduct their research.
To choose the best cryptocurrency to invest in 2020, we tried to take into account all the important factors that can significantly influence the price of a cryptocurrency. In our view, these are acceptance, demand, and price. From our point of view, the most important point is acceptance.
The price is only likely to increase if the project creates numerous use cases, for example through new partnerships.
At this point, it should not be ignored that news is a major price driver in the crypto market but eventually, acceptance also increases demand by building new use cases.
The price performs a role for many private investors as cheaper coins are more affordable. New investors in particular start with smaller amounts and prefer the so-called “penny” coins.
We have selected the following coins as our top best cryptocurrency to invest in 2020.
We put Bitcoin (BTC) at the top of the list as it has the greatest growth potential in 2020. From a technical as well as a financial point of view, the BTC is the most popular and widely used cryptocurrency on the market.
The current market also sees Bitcoin’s price as a profitable buying opportunity. If you want to add an attractive cryptocurrency to your portfolio, Bitcoin is the right decision. You can buy Bitcoin from popular crypto platforms like Coinbase and Binance.
Even though Ethereum, as the second-largest cryptocurrency by market capitalization, with a current price of 228$ is one the strongest of cryptocurrencies. It has a very strong foundation as more than 3500 Dapps are built on ETH and the number is growing every day.
Ethereum is facing a big year. Ethereum will soon enter the “Serenity” phase (or Ethereum 2.0).
Even if the roadmap is no longer up to date, as the Istanbul Hard Fork and the Beacon Chain (Serenity Phase 0) have been delayed somewhat, it gives a good overview.
Launching of Ethereum 2.0 will be a powerful determinant in the price of Etherum.
Already in 2019, Ethereum showed that it is still the number 1 smart contract platform. With the Ethereum Enterprise Alliance, there are numerous strong partners and global corporations behind the project.
For example, Microsoft launched a token-based reward program for the Microsoft Azure platform on the ETH Blockchain in early December 2019.
As Forbes reported, Ernst & Young, one of the largest professional service companies in the world, is investing in the development of data protection tools for the Ethereum ecosystem.
The “Nightfall” project, as Forbes writes, “is a great example of how one day all companies will use the public mainnet for transactions with sufficient data protection convenience”.
Decentralized Finance (DeFi) is a topic that has already dominated in 2019 and could become even bigger in 2020.
As ConsenSys recently found in a report, DeFi has the potential to grow into a billion-dollar industry. In this respect, there are numerous arguments that 2020 will be better for the Ethereum price than in 2019.
VeChain has caused a sensation in the past two months. For a long time, the Singapore-based project flew under the radar of many investors.
In the past few months, however, the project has received increasing attention, and not without reason. Since the main net launch of the VeChain Thor blockchain, the team has been able to establish numerous well-known partnerships like no other project on the crypto market.
The partners include global groups such as the DNV GL Group, PriceWaterhouseCoopers (PwC), the National Research Consulting Center (NRCC) from China, DB Schenker, Kuehne & Nagel, the BMW Group and Renault.
The use cases of the VeChain Thor blockchain focus on digital business transformations in various industries such as fashion, wine, automotive, food safety, carbon emissions reduction, and agriculture.
Most recently, VeChain has entered into a cooperation with the Anhui Tea Industry Association in China, in which up to 670 Chinese companies from the tea industry can use the VeChain Thor blockchain.
Why could the big breakthrough came in 2020? China’s head of state, Xi Jinping, made a speech in the crypto scene in October 2019, in which he announced a major blockchain initiative.
As the VeChain Foundation highlighted in a blog post, the focus is on creating value through blockchain. VeChain corresponds to this standard, as it was stated in the publication.
The cooperation between VeChain and the Anhui Tea Industry Association corresponds exactly to the government’s goal of increasing the competitiveness of all participants in the industry through blockchain technology.
In this respect, China could become an important factor for VeChain if further use cases and partners in China follow.
Basic Attention Token (BAT)
The Basic Attention Token (BAT) is trading at around $ 0.21 at the time of writing and could benefit even more from the growth of the Brave Browser in 2020 than it did in 2019.
At the beginning of December, the developers of the Brave Browser reported an increase in active users to 10.4 Million.
This corresponded to a tripling of active users within a year.
The Brave Browser aims to revolutionize the online marketing industry and build a decentralized ecosystem that brings users, publishers, and advertisers together and distributes the monetization of advertising revenue through the Basic Attention Token (BAT).
If the number of active users, especially the number of publishers and advertisers, continues to increase as much as in 2019, when a 12-fold increase to 340,000 publishers was achieved, the BAT course could benefit greatly.
Tezos (XTZ) has raised $ 232 million in its ICO and seems to be one of the best platforms for dApps and smart contracts due to steady growth.
You don’t need to say much about a currency that even caught the attention of the famous Winklevoss twins in 2018. It is currently one of the frontrunners, which forecast is very optimistic for 2020. Institutional money is also entering the Tezos ecosystem.
You can buy Tezos (XTZ) on top crypto exchanges like Coinbase, Toro, and Binance
Cardano cryptocurrency (ADA), created by Charles Hoskinson, definitely belongs to the Penny Coins category at a current price of $ 0.0799.
Despite the low price, Cardano has great potential. This was shown not least a week ago when the Incentivized Shelley test network with stake pools was launched.
Within the first 48 hours, 240 stake pools were formed and over 5.4 billion ADA, around 17 percent of the total supply, were delegated. Shelley’s launch on the Mainnet is expected to take place in 2020.
Then the participation in the proof of stake will probably increase significantly again, especially because exchanges like Binance will also offer to stake for their users.
In addition, Cardano has announced a large marketing campaign for 2020, which will be carried out by the well-known McCann Dublin agency, which has worked with Microsoft, LinkedIn, and Norwegian Airlines.
When it comes to Best Cryptocurrency To Invest In 2020, you can’t really avoid Ripple. Ripple now operates with many well-reputable partners and is number three currency.
The purpose is to use the Rippel XRP tokens to make the global payment system faster and cheaper.
Banks cut billions in fees every year to transfer money across national borders. Transferring money from banks is not only expensive, it sometimes takes days.
With Ripple bank, transfers can be significantly cheaper and go within seconds.
You shouldn’t invest more than five percent in Ripple.
The problem of Ripple is that it is a company and is not decentralized. Also, not all tokens are in circulation, Ripple holds a large amount of xrp tokens, and Ripple price is highly affected when these xrp tokens are sold in the market.
That is why there is a petition asking Ripple to destroy all the other ripples the company still has.
Chainlink was already the biggest winner in the top 40 in 2019, according to CNF.
The tech giant wrote in detail that it is working on applications that store cloud-generated data on a blockchain. The Google project used Chainlink to integrate the external data into the blockchain. Chainlink also has SWIFT, Oracle, Gartner, and IC3 as partners.
With a price increase of 586 percent (until December 15) since the beginning of the year, the LINK course showed strong growth.
In June 2019 it was announced that Google is working on a project that uses Chainlink.
In October, Intel, HyperLedger, and the EntETHAlliance joined to drive blockchain adaptation in the corporate sector.
But why does Chainlink have great potential in 2020? In 2020, the topic of how external data get into the blockchain has become even more important. And Chainlink is providing the best solution to it.
Chainlink is optimally positioned with its Oracle technology to form further strong partnerships and to integrate them into new services.
BNB Or Binance Coin
The coin is similar to stock because it belongs to a specific company. And it has been shown that the BNB is relatively constant and also profits even when the market is falling.
Last but not least, there is a coin from the top crypto exchange Binance. The big benefit here is that traders buy BNB coin because it gives them discounts on trading fees.
Furthermore, Binance desires to buy back more and more BNBs over the years, so the price of its coin could increase.
Which cryptocurrencies do you think are the best cryptocurrency to invest in 2020? We’d love to hear your feedback in the comments!
Originally published at https://thecryptobasic.com on June 19, 2020.