What is the best cryptocurrency to invest in 2019-2020?
The cryptocurrency has been amazingly popular during recent years. Millions of people are interested in investing their money in various digital currencies. These investments are known to be very promising since the global market of cryptocurrencies continues to grow. Bitcoin is a bright example of the successful cryptocurrency, thus more and more new digital coins appear online. Most people are feeling incredibly intrigued by the boom in the following markets and are trying to predict the tendencies in the area of crypto money. Not only experienced crypto professionals are searching for the best cryptocurrency to buy, the crypto investments for beginners are also on the rise. How to invest in blockchain? What is the best cryptocurrency to buy right now? Discover the answers to these hot questions right now.
The first thing to know before you start learning about how to start investing in cryptocurrency is the basic information about the service. The most important fact one should know is that investing in cryptocurrencies is risky. The charts that describe the market of cryptocurrencies are full of unpredictable ups and downs, and there is no person in the world who will make a 100% prediction on how a certain cryptocurrency will show off in the future. Therefore, choosing a cryptocurrency investment is chancy, the same as other common types of investments.
Buying cryptocurrency is an important decision, so you should also understand what crypto money actually is. The government currencies (for example, euro, the U.S. dollar, the British pound, etc) are valid because they are guaranteed by the banks of the countries that issue these currencies. This money can be effortlessly used for making lots of types of transactions, both in cash and on the account.
Unlike classical banknotes and coins of state currencies, cryptocurrencies remain fully digital. This type of money is using a specially developed blockchain mechanism, where each operation with crypto is made with the help of encryption. This means these currencies are out of control of state banks and government.
What makes crypto so popular is that a person who make transaction with its help can stay anonymous - it is an untraceable way of payment. Moreover, you can’t know how much crypto money a certain person has. All these features made cryptocurrencies amazingly popular among millions of users all over the world.
It is also necessary to point out that the number of services and websites that accept crypto as one of the payment methods is constantly booming. Cryptocurrencies become trustworthy and legitimate payment options that are taking their place along with PayPal, credit and debit cards.
So, the main questions that make thousands of crypto users worry are “which cryptocurrency to buy?” and “how to invest in cryptocurrency in the most effective way?”
The best cryptocurrency to invest 2020
Looking for the top 10 cryptocurrencies to invest in the nearest future? Which ones are the most promising? Just take a look at our top cryptocurrency list and choose the most suitable option for your needs. All of the currencies are likely to continue booming the next year.
Many people are wondering about how to invest in bitcoin. This is simpler than you might think. Although the currency has been the subject of debates during the recent years, many experts believe it will surely hit the market in 2020. This cryptocurrency continues to be the most popular one, holding the market share of over 40%. Bitcoin is currently dominating and, according to the latest predictions will continue to grow.
However, as for any other type of investment, you should be careful with choosing the best time for purchasing cryptocurrency. If you look at the Bitcoin charts for the recent period, you will see significant fluctuations in the price of this cryptocurrency. It has plenty of drastic ups and downs, so you should definitely keep in touch with the latest Bitcoin trends to purchase crypto for the lowest possible price.
In case you are completely new to the area of crypto, purchasing Bitcoins might be a good idea since it is one of the most well-known and popular digital currencies globally. Still, it is important to listen to your gut when investing in any type of cryptocurrency to minimize the risks of losses.
Ethereum is considered to be the best cryptocurrency to invest in the nearest future. This type of digital currency hits the top three greatest alternatives for investment. The total market share of Ethereum is reaching $140 million and continues to rise.
Many experts are making a prognosis for the peak prices for this cryptocurrency. You can read plenty of predictions for this type of money, but it is surely impossible to know for sure whether the price for it will grow or drop. However, if you take a look at the stats for this cryptocurrency for the recent years, you will discover that it is almost constantly growing and has minimum fluctuations in price.
There is one thing you should definitely know before adding Ethereum to your wallet. The fact is that it is not a common digital currency, but a more up-to-date and promising blockchain solution. What makes it different from similar cryptocurrencies? It allows industry experts to create their own cryptocurrencies based on the Ethereum platform. The service is a very helpful solution for creating and launching completely new blockchain products.
According to the recent data, the cryptocurrency will hit a whopping $200 million the next year. Moreover, the developers are constantly improving the crypto product and new Ethereum protocols are almost ready to get launched. All these factors make Ethereum one of the most demanding cryptocurrencies that attract more and more investments from experienced blockchain pros.
One of the most important events on the crypto market was a split of the world-famous Bitcoin to Bitcoin and Bitcoin Cash. Since then, the attention of the investors was grabbed by the new cryptocurrency available on the market.
The new type of crypto money has shown significant ups and downs in the long-time period. It is difficult to make a correct prognosis for this type of cryptocurrency since its price significantly varied in the past.
However, many experts have a positive prognosis for the future of Bitcoin Cash. The fact is that the new Shuffling technology is planning to be integrated into the service in the nearest time. This means the data of the owners of the coins will be better protected, while the coins will be mixed. Due to this factor, the prices for this type of crypto money are likely to rise. Is it the best altcoin to invest in 2020? The time will show.
Ripple is another top cryptocurrency that is among the leading options on the crypto market. You will surely be amazed by the fact that the price for this digital currency has boosted by 35.000% in 2007. However, don’t feel disappointed for missing the opportunity to invest in XRP a couple of years ago - the currency is still on the rise.
But what made the currency so popular among thousands of investors? The most important fact any experts should know about XPR is that it is not only an old-school cryptocurrency but an effective and modern payment service. The solution uses blockchain technology for making the transaction faster and safer. For example, in case you would like to use a standard international bank transaction, you will need to wait for a few days. With XPR, the process will take you no longer than just a couple of moments.
What is also great about Ripple, is that it is currently used by big financial and commercial organizations, such as the Central Bank of Saudi Arabia, American Express, LianLian International, and plenty of others. It is obvious that in the case of Ripple signs up new contracts with other state banks, its price will continue to grow at a steady rate. By the way, establishing new partnerships with various banks and companies all over the world is one of the top XPR priorities. This means the future of this cryptocurrency in the financial sector looks brilliant. Planning to buy cryptocurrency that is likely to be an inevitable part of the financial system in the coming years? Ripple might appear to be a perfect choice for a successful investment.
This cryptocurrency is also one of the top choices to invest in 2020. Litecoin is currently a number 5 type of crypto money with a market share of more than $12 billion. The cryptocurrency presented rapid growth in the past few years.
Litecoin is still attracting plenty of attention from investors since it is very close to Bitcoin and shows similar tendencies. If you take a look at the charts of these two cryptocurrencies, you will surely notice that their ups and downs look almost the same. The truth about Litecoin that it was developed to improve the technology of Bitcoin. What is great about this type of digital money is that it uses a unique Lightning Network for making successful transactions. There is no longer to wait a few days to get the transaction completed - with the help of the Network all the processes are finished faster than in a blink of an eye.
This means Litecoin is one of the most fitting alternatives for making investments in the nearest future. In case you become one of those experts, who invest in this cryptocurrency, you are likely to appear among the winners in 2020.
Stellar is one of the perfect options to invest in. This cryptocurrency is having an outstanding performance in recent years and is currently included in the top 10 most popular types of crypto money globally.
This cryptocurrency is an open-source, safe, and convenient type of coin with a whopping number of users. One of the main objectives of Stellar is to establish links between different financial institutions and improve the time for transactions and other types of operations between different parties.
Although the prices for Stellar is now decreasing, the digital currency is likely to start growing in the coming 5 years. This means now it is a perfect time to buy coins, while they still remain to have a low price. According to the predictions of the world-known players on the crypto market, the Stellar’s value will boost by more than 50% in five years.
What is the most convenient way to store your crypto?
Choosing the best cryptocurrency to invest in and making a purchase is only half of the way of a successful investor. Not only you need to buy your digital currency, but you also need to store it in a safe and reliable place. There are lots of different services for storing your crypto, offered in the form of digital wallets. But how can you choose the most fitting solution for these needs?
Consider choosing only wallets of reputable services. Although using less famous types of wallets might help you to save money, it is still better to pay more to get the highest possible level of security. This way, the companies that are operating on the market for years and are having plenty of positive feedback, are likely to be a better option. Avoid trying to minimize your expenses by choosing unknown types of wallets.
Make sure to remember your secret codes. In case you forget a password or lost a key to your wallet, you can just lose it forever. Therefore, choose your passwords wisely and always store this information in a safe place. It is also necessary to know that there are different types of wallets, including software, paper, and hardware. Feel free to choose the most convenient one for you.
Consider storing crypto in cold wallets. Many experts believe that USB drives are the best options for storing important information, including your wallets. This way, your data is not likely to be stolen by any third-parties online. Perhaps, their experience will fit your needs, too.
Choose different wallets. In case you are investing money in different types of cryptocurrency, and have a large number of various coines, it is better to use completely different wallets for storing your crypto. Although it is less handy but is surely much safer. In case you lose access to a certain wallet, you will not lose all your crypto money.
Use backups. Using backups is very important for keeping your private keys safe. Don’t neglect this measure and backup your keys on a regular basis.
Use only superb strong passwords to your accounts and wallets. “QWERTY” pass is surely not the best option to protect your wallet. Invent something unique and always use different combinations of letters, symbols, numbers, as well as use uppercase and lowercase.
Choose secure networks. Safe networks is a good way to get access to your wallets and making operations with your crypto money. It is better to have a separate gadget for making transactions with crypto, according to security experts.
Keep silence. Avoid telling too many people about your crypto investments. Moreover, it is better not to describe the chosen cryptocurrencies and wallets you’ve chosen with other users online. Scammers are everywhere and you can easily protect yourself just by not telling anyone about your crypto plans and goals.
Remember that investing in any cryptocurrency is always a kind of risk. The market is still unregulated and the prices for different digital money can be unpredictable. You can easily get huge profits in a couple of years, but you still can lose your money. There is no expert who can make 100% true-to-life predictions for the crypto market.
That is why it is recommended to invest only those sums of money you are not afraid to lose. Moreover, it might be a good idea to make your wallet more diverse and purchase different types of currencies to minimize the risks.