Since Blockchain evolved to be one of the most feasible technology, we have countless options in the cryptocurrency list to invest. Some are proving beyond expectation while some are majorly disappointing. Most surprisingly, the top 10 cryptocurrencies to invest might not be very popular or common to all the traders.
Before thinking of investing, it's very crucial to understand their features and potential in the long turn. For that, following their move is equally important. Just like real estate investment and significant investments, you can’t just rush into any decision.
For a simple example, let’s consider Bitcoin, the most heard of cryptocurrency, which a layperson might also have heard of, because of it being in the limelight for quite some time. In 2017, BTC surged astronomically upward, after which it fell so low, which was beyond anybody’s imagination. Now, it’s struggling hard to rise again. But as predicted by the market leaders, 2020 is going to be the year that is incredibly going to change the picture from bearish to bullish. Now that it's a new year with lots of expectation around the corners, You must know how to invest in cryptocurrencies and what are the prelims before investing.
Before making any investment decisions, we should be answering these questions to ourselves:
Based on these answers, you should figure it out whether you want a long-term investment or a short-term investment in cryptocurrencies.
Knowing which cryptocurrency to invest in might prove to be a difficult task for you if you’re not updated on the performance of the cryptos. You can’t make investment decisions based on emotional judgments. There are several metrics used to calculate the best currency to invest in. In a matter of time, cryptocurrencies can jump up or down the ranking order, as recently happened with XRP(which replaced ETH and grabbed the second position).
Bitcoin (Bitcoin price $3437.30) and Ethereum (XRP price $0.305224) are indeed the top cryptocurrencies to invest but let’s have a look at the 10 new and emerging cryptocurrencies of 2020:
Even if Zcash is predominantly new to the market, it has covered several grounds in such a short span. The CEO, Zooko Wilcox-O’Hearn is forward-thinking and continuously plans for growth and expansion strategies. At the moment, Zcash has around 21 million coins in transactions. Investment in Zcash is easy as you can enjoy a certain level of anonymity and can get the detailed report of the transactions you’ve carried out, hence making it one of the best cryptocurrencies to invest.
Zcash Price for today is $79.91. Its current circulating supply is ZEC 6,723,069 with a market cap of $537,258,522. You can convert ZEC to BTC at best rates from CoinSwitch.
Digital Dash should be included in top cryptocurrency list when it comes to investment opportunities. Although it was created in 2015, its market capitalization hit $2,036,525,273.Within this short span, they have consistently handled about $100 million worth of transactions daily as they are safe and secure. DASH is one of the best cryptocurrency to buy right now.
Dash Price for today is $146.10. Its current circulating supply is DASH 8,857,711 with a market cap of $1,294,142,348.
Two names always pop in our minds when we talk about blockchain and innovation- Vitalik Buterin and Da Hongei. The former as we know is the creator of Ethereum, wherein the latter is the creator of NEO coin. The NEO technology is underpinned by a Delegated Byzantine Fault Tolerant system, which adds sophistication to the system. Its improved proof of stake tech makes it one of the best cryptocurrencies to invest in.
By now, you might have got a fairer idea of the cryptocurrencies which will be good for investment in 2020. As stated earlier, investment is a risky process so it shouldn’t be rushed. You should always take investment decisions in a logical manner.
NEO Price for today is $12.43. Its current circulating supply is NEO 70,538,831 with a market cap of $876,507,478.
Steemit, the blogging, and social media platforms have decided to venture into cryptocurrencies. Activities like writing blogs and comments will award tokens to the writers. This token can be used for payment of other things on the platform. This is booming as more and more budding writers are showing their interest in this social media creative writing enabler.
Steem Price for today is $0.411964. Its current circulating supply is STEEM 318,079,459 with a market cap of $131,037,435.
Cardano is the distributed computing platform that implements blockchain technology for the ADA coin. As a decentralized blockchain platform, Cardano is an entirely open-source cryptocurrency project. Cardano is also the first cryptocurrency platform, based on the Haskell code, an industrial product used for mission-critical systems. Cardano is one of the cheap cryptocurrency to invest right now.
Cardano Price for today is $0.083503. Its current circulating supply is ADA 25,927,070,538 with a market cap of $2,164,988,406.
In spite of its occasional increase, Tron is attracting more and more investors. The reason is that most of the investors are realizing its potential in the upcoming months. Buying when low is the holy grail in the cryptocurrency bible. Launched by Justin Sun, Tron is set on a decentralized platform. Fast and secured transactions can be made with the help of this currency. The main motive is to promote and support the entertainment industry which enables all the users to upload and download various types of media without the intervention of third parties like Google Play Store and other middlemen parties.
TRON Price for today is $0.031423. Its current circulating supply is TRX 66,682,072,191 with a market cap of $2,095,379,228.
Nem is different from other cryptocurrencies because of two main reasons. You harvest instead of mining as is the case for other cryptocurrencies. The other concept is proof-of-importance to determine who harvests the next block. NEM transactions take around 6 seconds to show up and 20 seconds to confirm. NEM is incredibly scalable which takes about 3000 tx/s where BTC is bogging down at 4 tx/s. Another advantage is that the transaction cost is ultra low, around .01% fee. So you need a penny to send $100 or 10 cents to send $1000.Isn’t that awesome?
Last, but not the least NEM uses 100x less power than BTC to run a node or harvest.
NEM Price for today is $0.084553. Its current circulating supply is XEM 8,999,999,999 with a market cap of $760,977,582.
Binance is not only the world’s largest cryptocurrency exchange but its the name of a coin, too. BNB falls under the top 30 cryptocurrencies in the world by market cap. Binance has high liquidity and one of the assets which are superior in cryptocurrency trading. BNB offers great prospects in the long run as it increases steadily at times of turmoil, too. Since it has added 15 new tokens, it has seen around 50% adoption after that.
Binance Coin Price for today is $31.62. Its current circulating supply is BNB 141,175,490 with a market cap of $4,463,586,092.
0x is the latest and trending cryptocurrency that is grabbing the attention of the traders and investors. It is a decentralized exchange of ERC20 tokens and the users can directly place the orders from their Ethereum wallets. It allows much greater liquidity as compared to the other cryptos, so anyone using the protocol can access orders from anyone else. ZRX was in the news when Coinbase announced to list it the first ERC-20 token on its platform.
0x Price for today is $0.332269. Its current circulating supply is ZRX 597,577,999 with a market cap of $198,556,859.
Ontology is a high-performance multi-chain focused on the creation of interoperable blockchain channels. Ontology is looking forward to an ambitious roadmap for the upcoming years. Ontology’s meteoric rise up the market capital makes it all the more interesting to watch their main net launch and other developments play out in the third quarter.
Ontology Price for today is $1.44. Its current circulating supply is ONT 494,757,215 with a market cap of $714,554,109.
We have mentioned the top cryptocurrencies you can consider while investing. You can choose any of these.
The above-mentioned cryptocurrencies have a lot of potential to grow and succeed in the future.
There are millions of cryptocurrency investors across the world and most of them have profited from it.
As of October 28, 2020, there are 3047 cryptocurrencies as per the coinmarketcap.
There are many cheap cryptocurrencies, which is available under 1 USD, you can find the list here.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow, and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!