What Cryptocurrency To Invest In? Best Altcoins To Buy in 2020
What to Look For Before Purchasing or Investing In Cryptocurrencies
Cryptocurrencies are traded in different ways and they use a number of different algorithms. The main characteristics that you must consider before purchasing or investing in cryptocurrencies are: retailer acceptance, verification method, and market capitalization and daily trading volume.
- Retailer Acceptance – A cryptocurrency isn’t much of use if you can’t purchase anything with it, so before you invest in it, it’s very important to know who and where it was accepted. Some coins are simply built for other purposes and they aren’t designed to be exchanged for goods. Some of the popular cryptocurrencies are widely accepted just like Bitcoin, while some cryptocurrencies can only be exchanged for other cryptocurrencies.
- Consensus Method – One of the main differences between cryptocurrencies is their verification method, and the oldest and most common method is called Proof of Work (POW). A computer has to spend time and energy solving a difficult math problem to gain the right to verify a transaction. But the problem with this method is that it needs a huge amount of energy to operate. On the other hand, Proof-of-Stake (POS) systems try to solve this issue by letting the users with the largest share of the currency verify the transactions. These systems claim faster transaction speeds and require less processing power to operate. However, concern over security means that few coins use an entirely proof-of-stake-based system.
- Market Capitalization and Daily Trading Volume – A cryptocurrency’s market capitalization is the total worth of all coins currently in circulation, and at the time of writing, the total cryptocurrency market capitalization is nearly $175 billion. High market capitalization can indicate a high value per coin. It is important to note that the daily trading volume of currencies is more important than market capitalization.
Long-term cryptocurrencies to invest in
Since you have read up to this part, you are probably very eager to find out what could be the next bitcoin or next big cryptocurrency so you can go and buy it. Here is a list of the most promising altcoins and cryptocurrencies to buy in 2020 according to our research that was framed by coin market cap, future scope, demand, and value investment asset.
Basic Attention Token (BAT)
Here’s the list of some BAT funders: Founders Fund, Foundation Capital, Propel Venture Partners, Pantera Capital, DCG, Danhua Capital, and Huiyin Blockchain Venture Those firms have a lot of interests in increasing BAT market cap and they have very deep pockets. I won’t be surprised if all of the sudden, the price just moon extremely high in a very short period of time. The Anonize algorithm is built in a way that the user privacy is respected while publishers will be able to target effectively their users. How to purchase: Buy BTC on one of these exchanges linked below, transfer it to trading exchanges (Bittrex, Binance, Bitfinex, Poloniex ..) and trade for this altcoin.You might consider trading coins on Binance as it has by far lowest fees of all major exchanges. It is a new hit exchange that is surging to top of trading volume lists and receives heeps of praise from users.
Tezos (XTZ) has been an outlier of the bearish market, outperforming bitcoin and all other coins by more than 100%. Tezos is building a secure infrastructure for DApps, and because of that, a large part of its success will come from developers building on the network and the ecosystem flourishing. There are signs of this already, but not enough for investors to get giddy. Ethereum is the runaway leader when it comes to this, with many big names incumbents working on Ethereum-based solutions. Tezos is in a more speculative category. You’re betting on whether this could become a network that developers flock to and one rich with features that support DApps. There is potential here and pitch is good on paper, but you really want more evidence before you commit your cash.
If your willing to diversify your portfolio with such assets, and are willing to do due diligence with respect to monitoring development and growth, then perhaps Tezos (XTZ) could be a suitable investment. You have to make the call for this one.How to purchase: Buy BTC on one of these exchanges linked below, transfer it to trading exchanges (Bittrex, Binance, Bitfinex, Poloniex ..) and trade for this altcoin.You might consider trading coins on Binance as it has by far lowest fees of all major exchanges. It is a new hit exchange that is surging to top of trading volume lists and receives heeps of praise from users.
Heiko Closhen, Entrepreneur