The world of digital currencies is constantly evolving, so besides cryptocurrencies, there are now also cryptocurrency wallets and crypto trading bots, such as profitrevolution.com. Bitcoin was the first cryptocurrency to be invented. Ever since then the cryptocurrency market has been constantly growing. In the last five years, there have been over 1500 different cryptocurrencies created, as stated by Cryptovibes.com.
And while most governments – especially here in the United States – want to put a stop to cryptocurrencies, because they allow people like to hide money from the courts or the IRS, many countries are embracing these digital currencies. Smaller countries like Switzerland, Estonia and Singapore are particularly friendly to cryptocurrency owners. According to Malta Guides, the country is set on branding itself the “blockchain island”.
So, if you’re looking for the best cryptocurrency to invest this year, you might feel a bit confused in deciding which one is actually the best. Choosing new cryptocurrency investments can be a tiring experience and that’s why we’ve decided to list the best cryptocurrencies you should consider investing in.
5 Best Cryptocurrency to Invest in 2020
Even if you don’t know a lot about this world, you must have heard at least once about Bitcoin. This is the first and most widely used cryptocurrency. In fact, it is considered to be the king among other cryptocurrencies. It’s not really known who runs and updates Bitcoin’s open-source codebase and it’s the only cryptocurrency with an anonymous founder you should invest in. The Bitcoin loophole software,reviewed at Bitcoingrowthfund.com, which was developed by a team of software engineers, helps in fast trading of bitcoins, finding out the best opportunities in the market.
If you’re a beginner, Bitcoin should be your first option as it has the highest liquidity in the space. Additionally, Bitcoin is stable and if someone was to manipulate the price, they’ll need a lot of capital. It runs on a PoW system, which means miners receive block rewards in Bitcoin.
This cryptocurrency was the first to introduce smart contracts. Hence, developers are able to launch mobile and desktop decentralized applications on top of the blockchain. Ethereum is founded by Vitalik Buterin, a dedicated cryptocurrency expert. His partners are Joseph Lubin and Consensys. This cryptocurrency is also highly liquid, ranked right after Bitcoin. Its price stays stable due to its loyal community and team. You should be aware that Ethereum fuels the dApp ecosystem, which means that developers will probably need it to fuel their smart contracts and launch their applications.
Litecoin is considered to be one of the hottest and fastest cryptocurrencies of the decade. It uses Bitcoin’s source-code and has the same goal: to be a global, peer to peer currency. Charlie Lee, an experienced computer scientist, created Litecoin. It has enjoyed very high liquidity and reliability ever since it was created.
4. Monero (XRM)
Monero is the perfect cryptocurrency to invest in if you want an anonymous and private investment. It is an exceptional open-source and decentralized cryptocurrency for people who want to be private and secure. What’s more, this digital asset is usually used in the deep web and tracing it seems like an impossible task. Its strong privacy comes from great techniques they use, such as Ring signatures, RingCT, Kovri, and Stealth addresses. The inflation rate of Monero is quite low and there are superb Monero wallets that you can use to store your XMR safely.
5. Tezos (XTZ)
Last but not least, Tezos is one of the biggest competitors of Ethereum. It is a blockchain that can evolve by upgrading itself. It might have had a shaky beginning, but it rapidly improved. Hence, Tezos can be used as a platform to build decentralized applications and to support small contracts. The Tezos cryptocurrency, XTZ, has been added last year, but the process was done quietly by Cameron and Tyler Winklevoss, which has raised some suspicions.