Currently, many people are talking about cryptocurrencies and their impacts on marketplaces. Most of the trading platforms have cryptocurrencies as their priority for their users. You can earn more income by trading the cryptocurrencies in the exchange platforms like binance, coinbase, and litecoins.
So business people, startups, and investors invested their money on popular cryptocurrencies. If you are investing your money now, you will get more profits in a short period. But some people don’t know about cryptocurrencies and their importance in this digital world. Also, startups and investors don’t know which cryptocurrencies to invest in to get ample amounts of profits.
This blog guides you to know about what cryptocurrencies and the top 10 cryptocurrencies to invest in 2020 for earning more profits.
What is a cryptocurrency?
Cryptocurrency is a digital currency or digital money that can be used in all digital trading platforms. You can buy digital assets using the cryptocurrency and also you can not see them through the naked eye. It will always be in the digital format. The first cryptocurrency is bitcoin and developed under blockchain technology. It acts as both tokens and coins in the trading platform. The first discovered digital money is bitcoin and other cryptocurrencies are said to be altcoins.
The word ‘crypto’ in the cryptocurrency refers to the complex cryptography. That allows the creation of altcoins for the transaction in the decentralized ecosystems. Normal people can not develop a cryptocurrency only the well-skilled crypto developers with the knowledge of blockchain technology can create a cryptocurrency.
Cryptocurrency plays a major role in cryptocurrency trading platforms. In those platforms, users buy and sell cryptos instantly in a hassle-free manner. Nowadays, many companies and industries have started accepting cryptocurrency as their payments. So that business people and startups started to buy popular cryptocurrencies from various platforms.
As for now, more than 2000 cryptocurrencies are available in the marketplace. So many people got confused about which cryptocurrency to invest their money. So here I suggest the top 10 cryptocurrencies invest in 2020 for additional profits.
Top 10 cryptocurrencies to invest in 2020
(image source: Forbes)
As I already mentioned in this blog that bitcoin is the first cryptocurrency developed using the. blockchain technology. Bitcoin is shortly mentioned as BTC. It came into existence in January 2009 with the reward of 50BTC. It was first found by Satoshi Nakamoto. At the starting stage of bitcoin launch, the price of a single bitcoin is below $1. But at the time only a few people used BTC. but now the current price equals more than $9000.
So bitcoin made a huge boom in the trading platforms and crypto markets. So it becomes the most popular cryptocurrency worldwide. Until the existence of bitcoin in the market, it will be at the top in the market place and high in liquidity. Even though the market is down, bitcoin has constant growth in all the trading platforms. Many people buy bitcoin and hold it for long term investment. Only less than 10% of people are ready to sell bitcoins in the market.
Bitcoin halving is happening in May 2020 and its third bitcoin halves with 6.25 BTC rewards. Already two halvings covered with the rewards of 25BTC and 12.5BTC and created great impacts in bitcoin price. The community team expects third bitcoin halving will again create a new historical peak in the crypto industry. So if you are investing your money in bitcoin now then you can earn enormous amounts of profits in 2020.
After the huge success of bitcoin, the ethereum is invented by using borrowed blockchain technology of bitcoin. It is the most popular cryptocurrency after bitcoin. It is used as a digital currency and a token in the trading platforms. It is the first project to launch the smart contract using the ethereum blockchain. By using ethereum blockchain, developers created decentralized applications for both mobiles and desktops.
(Image source: pixabay)
Vitalik Buterin is the founder of ethereum. He is an experienced cryptocurrency expert with blockchain technology. In terms of liquidity, ethereum is the second or third most popular cryptocurrency. The price of ethereum is less volatile and you can easily buy and sell ethereum on any platform. Ethereum is shortly known as ETH.
Ethereum has more coins compared to bitcoin and other cryptocurrencies. This due to its functionality and use cases in the decentralized ecosystems. Many business people and startups use ethereum smart contracts to launch their projects and decentralized applications. Even ICO’s are run by thousands of ethereum tokens. Currently, the price of ETH equals $200 and it will increase in upcoming days. So you can invest your money in ethereum.
Litecoin is the first alternative of bitcoin and it was developed by the bitcoin blockchain script in 2011, as a fork of BTC. it has a speed processing time and makes it ideal for the payments. It is mostly similar to bitcoin so it remains as the decentralized digital currency. Litecoin was first developed by Charlie Lee. he is a well-experienced computer scientist and a cryptocurrency enthusiast. Litecoin has high liquidity and price is less volatile in the smaller crypto markets.
(image source: crypto politans)
Litecoin is the sixth-largest cryptocurrency in the market across the world. Also, it is more popular in many digital asset trading platforms. The total supply of litecoin is more than 84 million but bitcoin has a supply of 21 million coins. Litecoin is shortly known as LTC. The current price of a single litecoin is equal to $43.21. So you can also invest in litecoin for earning profits.
Ripple is first launched in 2012 and now it is one of the most prominent cryptocurrencies across the globe. It was first founded by Chris Larsen in the ripple labs inc and that is a US-based company. Ripple is a trendy altcoin in recent days. It has already been funded by banking and financial institutions. It is recognized as a real-time global settlement network that provides instant and low-cost international payments.
(image source: Ripple)
Ripple enables the bank to cross-border real-time payment with end-to-end transparency at a low cost. Most of the low financial people in the trading platforms will buy and sell ripples. Because the cost of the ripple is low compared to other popular cryptocurrencies in the market. The current price of ripple is $0.20 and shortly known as XRP.
The name itself suggests its a crypto coin developed by the binance. It acts as a token in the binance exchange platform. It is one of the utility tokens and used for paying fees for trading and other services in the binance. All Crypto enthusiasts know that binance is the world’s largest exchange platform in terms of volume trading. So this binance coin also has high volume and liquidity during the trading in the exchange platform.
(Image source: ethereum world news)
The price of the binance coin has been volatile for the past few years. Sometimes the price goes up or down but the volatility remains high in the binance coin. It is shortly known as BNB in the marketplace. When you hold the BNB then your trading fees become less in the binance exchange. Also, BNB coins are used in binance dex and decentralized exchange of binance. Currently, the price of the binance coin equals $15.86.
NEO is one of the well-known cryptocurrency in the crypto industry. It was first launched in 2014. NEO is the Chinese based ethereum and it acts as smart contracts for developers to develop and deploy decentralized blockchain applications. Also, it is more centralized compared to the ethereum blockchain.
(Image source: coins switch)
You can easily buy and sell NEO in any crypto trading platform because it is very cheap in the market. So it has high liquidity and price is volatile in the markets. So your investment will be stable and you can earn more profits. More than 200 million NEO tokens are in existence and it is separately distributed for different usages. So when the demand increases the price will be automatically increased. The Current price of NEO equals $10.18
Cardano is also a smart contract platform and cryptocurrencies like NEO and ethereum. It was first launched in 2015 and its motto and aims to become a home for large-scale financial applications. It is a decentralized system and its cryptocurrency is named ADA. it works fast and has easier development tools. Also, it has a two-layer of technology. Such as tracking the balances on the ledger and transferring value.
(image source: Cardano)
Cardano also relies on the technology people. They are connected with companies to offer the courses for programming languages that are used within the Cardano network. The price of Cardano cryptocurrency is very cheap and currently, it equals only 0.0482 USD.
EOS is a new cryptocurrency that was first launched in June 2018. It is a new arrival in listing and developed after the ethereum. so It is a great smart contract platform where developers can create secured decentralized software and applications. EOS consists of EOS.io, so it acts as an operating system in the computer and acting as blockchain technology for the cryptocurrency as EOS.
(image source: medium)
The Current value of one EOS equals $2.21. But some research says that it may touch $!5 at the end of 2020. So many businessmen and startups invested money in EOS.
Monero is the protected cryptocurrency and popular in the crypto markets. This cryptocurrency is first developed by the popular cryptographers and blockchain developers. It is recognized as a privacy coin and it is always a leading cryptocurrency in the market. You can buy and sell this cryptocurrency instantly in a hassle-free manner. It is less volatile compared to other tokens in the market. The current value equals 64.82 USD and it is shortly called XMR.
(image source: monero)
Dash is an open-source cryptocurrency and popular in the crypto industry. It is a cryptocurrency that is delivered by the bitcoin protocol. It was first launched in the name Xcoin and later they were named as the dark coin. In 2015 they changed the name as the dash. Then it became the most popular digital currency across the world. Dash remains as the finest crypto for instant payments.
(image source: dash)
Already many users are buying and selling this cryptocurrency in the exchange ecosystems. The Current price of dash equals $73.48. So if you have an interest in investing your money in the dash in 2020, then first analyze the dash market price, liquidity, and volume.
There are lots of cryptocurrencies available in the crypto market. But I just mentioned some of the best top 10 cryptocurrencies to invest your valuable money. But you should check the volume, price, and liquidity in the markets before investing your money in the cryptocurrencies.