What are the best cryptocurrencies to buy this year?
If you are a cryptocurrency investor, you’ve probably asked yourself this question several times. And you are here to find the answer to your question.
As a person who is involved in the cryptocurrency space, I can assure you that there is no single best cryptocurrency to invest in. Most of the top cryptocurrencies in 2020 are attractive investments for anyone who wants to make it in the future. Similar to other investments, you should diversify your portfolio to minimize risk.
Today, we are going to share the top cryptocurrencies that you should invest in this year. It doesn’t matter whether you are a beginner or an advanced investor. We’ve got you covered!
Best cryptocurrencies for beginners
As we said earlier, there is no one best cryptocurrency to invest in. As a beginner, you need to diversify your portfolio. Investing in only one type of cryptocurrency is risky.
Plus, investing in as many cryptocurrencies as you can will increase your chances of being involved in the next cryptocurrency that outperforms.
According to nursing assignments, you should invest in coins that land in different categories are less volatile and easy to trade and store. We are going to help you make informed decisions by describing a coin, its purpose, volatility, and liquidity. Let’s get started!
Bitcoin is the most popular and widely used cryptocurrency today. People refer to it as the king of cryptocurrency because its purpose is to act as a global digital cash.
Bitcoin has the highest liquidity and this makes it the best cryptocurrency for beginners. You won’t have any problem buying or selling bitcoin because there will always be someone who is going to match your demand.
In terms of volatility, bitcoin is the most stable cryptocurrency. This means that manipulating its price would require a huge amount of capital.
People who invest in bitcoin usually receive block rewards since the coin runs on a proof of work system. Its price increases as demand increases.
Bitcoin remains the best cryptocurrency to invest in today. You should not invest in cryptocurrencies without bitcoin.
Litecoin was among the first cryptocurrencies to be introduced after Bitcoin. Today, it's among the best cryptocurrencies to invest in. It uses the same source code used in Bitcoin with a few changes to the code. And this makes it one of the fastest cryptocurrencies in the world.
As essay writing service uk reports, Litecoin has always had a high liquidity and huge market cap since it was created. In terms of volatility, the coin is reliable compared to other coins with small market caps. Despite the stiff competition, Litecoin remains one of the most trusted cryptocurrency to invest in.
Ethereum was the first project that introduced smart contracts that enabled developers to launch desktop and mobile decentralized apps on blockchain. Ethereum has high liquidity. It has been ranked as the second or third after Bitcoin.
This shows that you won’t have any problems purchasing or selling this coin. Ethereum has a dedicated team that works to ensure the coin remains stable in the long run. Ethereum is currently the leader in the smart world and it remains one of the best cryptocurrencies to buy in 2020.
Unlike Litecoin and bitcoin which are usually used as currencies, this coin is used as a token. This means that its value is directly linked to its usefulness and its demand in the market.
A research conducted by dissertation service reports that Binance coin is the most liquid cryptocurrency at the moment. It has been ranked among the top ten due to its growing market cap. The coin is highly volatile. Since early 2019, its price has tripled. It might continue going up. However, no one can predict the future accurately.
Binance is launching a decentralized exchange system that is aimed at increasing its utility. The coin’s exchanges have been growing exponentially since it’s used to pay for transactions during exchange. One of the best ways to diversify your portfolio is by adding this coin.
It’s a good coin because it's issued by an organization that has a good history and managed by an experienced and talented team. If you already own Bitcoin and Ethereum, this is the best coin to add.
Basic Attention Token
Basic Attention Token is another commonly used utility token. You can use this token to tip content creators or anyone who is performing remarkable work on the internet. You can either send a one-time payment or pay every month.
Plus, online users who watch ads also get rewarded. Advertisers can make use of smart contracts by locking up this token and releasing it to the viewer every time their ads are viewed.
This coin’s liquidity keeps fluctuating. However, it was ranked among the top forty most traded coins last year. BAT is also consistent when it comes to volatility. It has managed to remain around the same region even as other coins were crushing. This signals that it a healthy accumulator. The higher the demand, the higher the price of the token.
Researchers predict predicted that this coin will be among the best performing in 2020. Therefore, don’t miss out on the opportunity.
These are some of the best coins for beginners to invest in this year. If you are an advanced player, we’ve got something for you.
Best cryptocurrency for advanced players
Monero is a project focused on privacy that uses fancy cryptography to hide the identities of participants. It is commonly used in the dark web. The coin is highly liquid and always appears at the top of the market cap.
The market will always respond to your needs whether you want to buy or sell. In terms of volatility, the coin is stable compared to coins with smaller market caps. Since Monero is used in the dark web, its demand is always up. It’s difficult to store Monero, unlike the five coins we’ve discussed above.
NEO is usually referred to as the Ethereum of China. It has enabled developers to use blockchain to launch decentralized applications.
This coin is highly volatile which means it's stable and safer to invest in compared to other cryptocurrencies. It also has a large coin market cap in terms of liquidity. If you like smart contract platforms, you should invest in this coin.
These are some of the best coins in the market for both beginners and advanced players in the market. Beginners need to start slow and increase the size of their portfolio gradually to avoid increasing risk. Finally, do your research before investing in a new coin to avoid losing your time and money.