Best Cryptocurrencies to Invest in 2020

Over 4,000 cryptocurrencies are available in the world market. Some of these cryptocurrencies are rare and little information is available about them. A good example is a satoshi, which few people know about, and those who do know very little. On the other hand, some, like bitcoin, are known worldwide. This article talks about the best 2020 cryptocurrencies to invest in 2020. But first, the article highlights the reasons for investing in cryptocurrency.

Why Invest in Cryptocurrency?

There are several reasons as to why one should invest in cryptocurrency. First, cryptocurrencies allow business at any time of the day and any day of the week. The market is open twenty-four hours a day, seven days a week. The costs of transactions are less compared to other currencies. Also, cryptocurrencies allow anonymity, unlike bank deals where banks must know your identity first. Banks always ask for statements when doing transactions.

Bitcoin

When talking about the best cryptocurrencies in the market, the list cannot start with any other than Bitcoin. Bitcoin is the most popular cryptocurrency used today. The security level and anonymity is the reason for its rising popularity. Bitcoin is also being used in sports betting in India, especially in cricket, where gamblers can keep their earnings in cryptocurrency. Most online traders prefer bitcoin due to its fast transactions and processing.

Ethereum

Ethereum is the next cryptocurrency in popularity after Bitcoin. Additionally, Ethereum is the only currency within the market that can be used to pay transaction costs. It was founded in 2015 and has currently supported over 90 million users across the world. Even though in terms of price, Bitcoin is slightly better, investors think there is a lot of potential in this cryptocurrency. Ethereum’s growth is expected to increase steadily in the next few years. So, if you are looking to buy Ethereum (Ethereum kaufen) , you should always look out for reliable sources that are safe for transactions by reading reviews on websites like Kryptoszene.

Litecoin

As compared to Bitcoin and Ethereum, Litecoin is more affordable among the three, meaning that investors find it easier to work with due to its low and friendly rates. Currently, 1LTC = $100 which to most people is pocket friendly. Another advantage of Litecoin to Bitcoin is its faster capability in blockchain since it processes in under 3 minutes while in Bitcoin is close to 10 minutes, hence transactions are done faster using Litecoin.

Zcash

Zcash is one of the most recently founded cryptocurrencies among the three, having been released in late 2016. There is not much of a difference compared with the rest, but what makes Zcash stand out is its strong advantage of privacy. Nothing matters more in business than knowing one’s finances are in safe hands. Now, when it comes to Zcash, not even the government or investors can see peoples’ recent transactions.

Ripple

Ripple is currently ranked 3rd among the other cryptocurrencies. It was established in 2012 and since then, its stability has remained high. Many business entities have resolved to use Ripple as a form of cash due to their customers’ demands. It is clear that Ripple is one cryptocurrency to watch in 2020. Earlier this year, Azimo (European money transfer) stated they will also start using the Ripple as a form of cash in their transactions.

The world is advancing in technology and while there are many advantages of cryptocurrency, there are also a few disadvantages there. First of all, a lot of time is wasted in setup. Hacking is another issue as it can lead to losing money. Lastly, cryptocurrency is believed to be the form of currency used in illegal business transactions like drug trafficking. Still, cryptocurrencies’ popularity is predicted to rise due to their advantages which outweigh the disadvantages