It is a good idea to think of investing in cryptocurrencies. But it is definitely not a sound idea to invest in just any crypto asset you can get your eyes on. While there may be hundreds of crypto coins out there not all are reliable or genuine. Most crypto assets are soon found to be worthless, and even the handful that do make it, are not risk-free. So, when you plan to invest in 2020, you should be considering any one of these 5 options as these are likely to be the most profit-yielding ones available:
- Bitcoin is obviously the first name that comes to mind. This was the first crypto coin to be discovered that has since its inception been a force to reckon with. Despite the frequent ups and downs in prices, Bitcoins are still the most highly recommended for investors. The interest in this crypto asset has not dwindled, and after the halving takes place in 2020, it is expected that prices will surge again much to the delight of Bitcoin holders. Due to invention of automated bitcoin trading bots like bitcoin lifestyle the bitcoin trade is always on the rising end.
- Ethereum has been second only to the Bitcoin over the years and is believed to be more than simply a cryptocurrency. The Ethereum blockchain refers to smart contract that has grown into a base for many successful decentralized apps today. So, the relevance of the Bitcoin is likely to go one because it is not a currency only. Even prices of Ethereum had gone up in recent times partly because of Bitcoin’s own rise as crypto coins tend to push one another’s values up. The surge was short-term but one cannot rule out the Ether since it is updated regularly unlike the Bitcoin that has only witnessed minor tweaks.
- Ripple is different from Bitcoin or Ethereum as it focuses on transferring money instantly across borders for free or minimal fees. Bitcoin had positioned itself merely as an investment option but the Ripple has a unique strategy. It aims at surpassing banks and other financial institutions in the money-transfer business. Its blockchain is being used as interbank network that lets institutions receive or send money directly to one another. Since banks had started to adopt the Ripple blockchain, this token has become one of the leading coins in terms of market cap and this is likely to be a profitable investment option for people in 2020.
- Litecoin is considered to be Bitcoin’s sister and one of the most successful altcoins till date. The Bitcoin-based altcoins have the same source code as Bitcoin; so, they derived the same strengths and shortcomings. These coins appeared because Bitcoin community was not keen to make any big changes to the code. So, most altcoins have Bitcoin properties and are able to resolve a few of its shortcomings like security or scalability issues. The altcoins are also cheaper and replicate Bitcoin price movements. This explains why people can choose to invest in them if they cannot afford to invest in Bitcoins.
- Binance Coin is the newest crypto coin and has been around for only a couple of years now. Unlike the others that had been created by developers attempting to solve specific issues, Binance Coin had been released by Binance, a leading cryptocurrency exchange. Binance has constantly been involved in helping blockchain projects and this blockchain has been home to many external developers as well as its own efforts at ensuring mass adoption.