Cryptocurrencies can be a great way to invest as long as the buyer is smart about his decisions and does his due diligence first.
But prior to buying any cryptocurrency it’s important to do some background research about who created the coin, whether it is being traded on safe exchanges, whether their screening processes are thorough and whether they are being endorsed by affiliation with recognisable brands. Taking all these precautions is critical before choosing to invest your hard-earned money.
In this article, we will explain the advantages of cryptocurrency investments and show you the top five digital coins to buy in 2020. Let’s check it out!
Interesting fact: only 3% of people currently trade with digital money, the number of investors is growing steadily all over the globe.
Firstly, let’s talk about the advantages of cryptocurrency investing:
- Accessibility: Digital coins are widely accessible and you can trade them wherever and whenever you want.
- Security: while investing in crypto money, you don’t have to fear identity thefts or frauds.
- Lower fees: The costs of cryptocurrency transactions are much lower than traditional exchanges.
- Portfolio diversification: You can use crypto coins to diversify the portfolio of investments and broaden the scope of work.
- Faster transactions: Cryptocurrency operations are conducted almost instantly, so you don’t have to waste any time at all.
Read also – Countries Where Crypto Investments are not taxed
5 Crypto Coins to Buy in 2020
The list of the most promising cryptocurrencies would be incomplete without Bitcoin.
After three years of major ups and downs, Bitcoin finally stabilized in 2019 and it currently costs about $8100. It’s the best solution for investors who want to play safely and hope for a small long-term return on investments.
Ethereum is based on a popular dApp processing platform, which is exactly where it derives its power from.
According to live price tracker, this coin currently costs about $176, but the 2020 predictions are optimistic. Some analysts even claim that Ethereum can even reach Bitcoin. Although we disagree with this statement, we also believe Ethereum is going to grow next year.
Litecoin may be much cheaper than Bitcoin or Ethereum, but it doesn’t fully reflect its market potential. For this reason, we think investing in Litecoin could be a huge opportunity for all clever business people. How come? First of all, it costs somewhat more than $100 so you don’t have to risk too much. Secondly, Litecoin has technical preconditions to become a global transaction network, which is more than enough to make you consider investing.
4. Bitcoin Cash
Bitcoin Cash has been doing well amid the price fluctuations as it has managed to stay above the $220-$230 significant support levels. The trading of the altcoin has increased as the price is moving upwards.
With 4th place in the market, Bitcoin Cash has gained the trust of a lot of users as it has reached this position in the market. Bitcoin Cash price can reach around $1500-$1800 level by the year 2020.
Another cryptocurrency with the potential to dominate the market is Ripple. It is worth barely $0.33 at the moment, but things could change quickly if Ripple becomes the official solution for banking infrastructure. Some reports say that Visa and Western Union might soon embrace Ripple as their under-the-hood technology, which is quite a big deal for this digital currency.
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