What would be the best cryptocurrencies to buy and invest in this year?
2017 will forever be remembered as the year of the cryptocurrency. It was the year that saw the market capitalisation of the industry rise from $18 billion to $800 billion in a one-year window. Bitcoin, the current benchmark in the cryptocurrency world, gained over 1300%. However, it wasn’t the best performer as others like Ripple gained more than 36,000%.
The correction that followed in 2018 saw a pullback in the market capitalization of the top 10 cryptocurrencies to around $200 billion. However, this period heralded the rise of cryptocurrencies, and till date, the number of crypto enthusiasts continues to swell. The price of cryptocurrencies such as Bitcoin rises sharply in 2020.
Are you a budding cryptocurrency investor or trader? Currently, there are more than 5,000 cryptocurrencies, and it is not easy to choose the best cryptocurrency for investment.
Today, I want to share my thinking about which are the best cryptocurrency to BUY and invest in, and how to choose cryptocurrency for trading.
Quick Look at my picks of the Best Cryptocurrencies for 2020
3. Bitcoin Cash
7. Tezos [XTZ]
What Cryptocurrencies are the best to Invest in now?
If you want to dive into the crypto market quickly, you can use「Mitrade platform」to trade bitcoin, Ethereum, Ripple, etc. online comfortably!
- What to Look for When Deciding the Best Cryptocurrencies to Buy and Invest in? >
- 5 Best Cryptocurrencies to Buy and Invest In Now - Most Popular >
- 5 Best Cryptocurrencies to Buy-Undervalued Crypto with Most Potential >
- What Is the Best Site To Invest In Bitcoin and Cryptocurrencies? >
- Final Thoughts on Best Cryptocurrencies To Buy >
Many platforms exist on the web today, that rate the thousands of Cryptocurrencies to help many people to make more informed decisions. Weiss Crypto is the best. You can see the list of the most rated cryptos, to make an informed decision. However, if you’d like to analyze cryptocurrencies to buy without the help of a third- party, here are some of the things you should look for:
■ Historic performance
How old is the cryptocurrency, and what is the general performance since inception? Is the growth curve steady? Has it been largely static? If the crypto has shown consistent growth for at least three years, it could be worth closer attention.
The liquidity depth of a cryptocurrency is determined by the number of adopters and the market capitalization. If a cryptocurrency has thin liquidity, it will be difficult for you to sell your investment in the future.
■ Market Cap
Cryptocurrencies with a decent to high market cap are the best to consider. They also have the most liquidity, ensuring easy buy and sell of any investments.
The technology behind the cryptocurrency is one of the major drivers of its adoption. Ethereum and Ripple are the best examples of cryptos backed by exceptional technology.
Next, let's choose which is the best cryptocurrency you want to buy!
Next, I will show you my list of the best cryptocurrencies to buy, they are the most popular and most traded cryptocurrencies that should never be overlooked. This list is merely for your reference, you should do your own research.
Remember that cryptocurrencies are highly volatile that may not suitable for all investors!
1 Bitcoin (BTC)
Current market value: 2030 billion US dollars
Current Price: 34356 USD
Block generation: 10 minutes/block
Bitcoin was the first cryptocurrency and has been the best performing cryptocurrency in this field for ten years. It has a market cap of more than $150 billion and is the most liquid cryptocurrency. Many businesses around the world accept Bitcoin as a method of payment. Many people have been watching Bitcoin for years and wondering " should I invest in bitcoin and how to invest wisely. You need to do your research and understand the risks.
BTC/USD price chart from Mitrade▼
Bitcoin is similar to gold: scarce, difficult to mine, and limited in quantity. As you know, there are only 21 million bitcoins in the world, and currently mined bitcoins account is almost 90%.
In addition to scarcity, bitcoins are easier to move and divide than gold. Bitcoin is divided into 100 million smaller units (called Satoshi). To transfer bitcoins, it only takes a few seconds to transfer from one place to another at a very low cost. Therefore, in the eyes of investors, Bitcoin is a very good asset.
In 2020, many Wall Street investors have used Bitcoin to prevent inflation and macroeconomic risks.
The development of retail systems has also made it easier for many people to trade and buy and sell Bitcoin. For example, Paypal and Square Cash, which add Bitcoin to their cryptocurrency services.
Should you invest in bitcoin now?
2 Ethereum (ETH)
Market value: $23 billion
Current Price: 904 USD
Block generation in Ethereum: 15 seconds/block
Ethereum changed the cryptocurrency world with its launch of “smart contracts”. Launched in 2015, it has made giant strides over a short period. It is only behind Bitcoin in terms of adoption and market capitalization. The technology that powers ETH was such a deal-changer that some of the biggest brands in the world, including Intel and Microsoft, took notice and developed a version of the Ethereum engine for use business.
ETH/USD price chart from Mitrade ▼
Should you invest in Ethereum now?
3 Ripple (XRP)
Market value: $13 billion
Current price: $326
Ability to create blocks: 3.5 seconds/block
Ripple is another cryptocurrency with a unique selling point. Made by Ripple Labs, it is the cryptocurrency of choice for high-speed, and low-cost money transfers all around the world. It has achieved what many cryptocurrencies dream of, by having a real use in the offline world. With a market capitalization of around $10 billion, the future is bright for Ripple.
XRP/USD price chart from Mitrade ▼
4 Bitcoin Cash (BCH)
Market value: more than $5 billion
Current Price: $289 USD
Bitcoin Cash is the fourth largest cryptocurrency in terms of market capitalization. This is partly due to its connection to the original BTC. Bitcoin Cash was designed to address the slow transaction speeds of Bitcoin. It allows larger blocks, ensuring improved scalability and faster transactions. As long as Bitcoin remains a market-leader in the Cryptocurrency world, Bitcoin Cash will continue to grow in popularity.
5 Litecoin (LTC)
Release Date: 2011
Market value: $4.6 billion
Current Price: 78 USD
Litecoin is one of the most traded cryptocurrencies and is in the list of top 10 cryptocurrencies with the largest market cap. It is currently a payment option on platforms like Overstock.com and has grown a great deal over the years. It features a unique algorithm that ensures faster transaction times in comparison to other cryptocurrencies.
After my research on the top100 most traded cryptocurrencies, there are 5 most potential cryptocurrencies for this year. This list is just for reference.
1 EOS (EOS)
EOS is one of the best cryptocurrency that has adopted Ethereum’s smart contracts feature, and it is growing rapidly in popularity. Part of the reason for the growing adoption of EOS is the fact that transactions are free on the network. Performance-wise, it has not started generating the returns common with most of the popular cryptos, but with a market cap of over $3.5 billion, it is one to watch.
2 Tezos [XTZ]
Promising an annual return of 6 to 7%, Tezos is a new player in the cryptocurrency system with immense potential. Its unique selling points include robust security and the deployment of a Proof-of-Stake system.
3 MakerDAO [MKR, DAI]
MakerDAO is one of the main leaders when discussing cryptos based on decentralised stablecoin management systems. It has been in existence for at least two years and has remained stable even in the midst of market volatility. MakerDAO is also gradually become of the primary currencies of choice in the Ethereum ecosystem.
At its core, Tron is a platform designed to ensure decentralized content-sharing using peer-to-peer technology. Tronix (TRX) is the currency on the platform, paid to content creators. Tron’s market cap has grown to over $1.2 billion in a few short years, and adoption is expected to grow even further over the coming years as the idea of content-sharing currently powering it catches on.
Cardano was developed by Charles Hoskinson (Ethereum’s co-founder). Its main selling points include scalability, interoperability, and sustainability. Cardano, perhaps expectedly, also deploys smart contracts. Its technology infrastructure is highly rated in the cryptocurrency world, and it already has a market capitalization of more than $1.2 billion dollars.
There are some of the most underrated cryptocurrencies in the market today. Even if you are not ready to buy them yet, keep them on your watch list!
Are you looking for some cheap, easy, and fast ways to buy Bitcoin? Here are some of the best places you should take a look. It may be a crypto exchange or maybe a Crypto broker. There I will show you 2 popular places for your reference.
1 Crypto Exchange: Coinbase - Buy and Hold
Coinbase is one of the most popular Bitcoin exchanges in the world. Many people buy and hold cryptocurrencies in this way because they believe in the long-term prosperity of Bitcoin, any fluctuations in the short-term are just short-lived phenomena in the long journey.
No need for frequent transactions
Profit only when the market rises
Requires a large initial capital
It is not easy to hold cryptocurrency
2 Trading Broker: Mitrade - Trade Bitcoin in price moves
Mitrade, as a forex and CFD broker, offers a different way of buying and selling cryptocurrencies——crypto contract for difference ( CFD).
CFD is a financial derivative that allows you to trade on the crypto price fluctuations without actually owning any coins. The potential profit is the difference between the buying price and selling price.
What you need to know is CFD is margin trading, providing you with greater exposure to financial markets, so you need to be careful of leverage risks. Leverage may cause you to lose all of your money.
With 1:10 leverage, you only need to deposit $163 margin and you can trade 1 Lot of Bitcoin on Mitrade.
If there is no leverage, you need to deposit $16311 to buy 1 Lot of Bitcoin.
* The price does not present the current situation. For details, please visit Mitrade platform.
▲Open a buy position on Bitcoin, source from Mitrade
Low capitals to start
Go long or go short with the market rise or fall
No need to own and hold cryptocurrency
Leverage rise the risks
Trade Ease With Australia's Popular Broker - Mitrade
Mitrade is your one-stop destination to trade CFDs across Forex, Shares, Indices, Commodities & Cryptocurrencies.
To start trading on Mitrade, you only need 3 steps:
Step 1: Register Mitrade account online
Step 2: Deposit initial capital
Step 3: Open a position
- Gainers & Losers
Now you have my list of top10 Best Cryptocurrencies to Buy and Invest in 2020. Which cryptos are you looking for?
This cryptocurrency world is still in its earliest stages, but it holds a lot of promise. As a new trader in this sphere, it may be best to create a portfolio featuring the most popular cryptocurrencies, and a few of those that have been marked to hold the most potential. Avoid ICOs as they have a high failure rate.
If you’d like to take advantage of the volatility of cryptocurrencies without remaining physically committed to any specific one of them, trading the cryptocurrency variants ( CFD ) as offered by Mitrade app is the way to go.
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What is the fastest-growing cryptocurrency?
The fastest-growing cryptocurrency of today is Bitcoin. Others hotly following on its heels include Ethereum, Litecoin, and Bitcoin Cash.
What is the most expensive cryptocurrency?
The most expensive cryptocurrencies as of January 2021, are Bitcoin.
What are the most valuable cryptocurrencies?
In terms of market capitalization, Bitcoin, Ethereum, Ripple, and Bitcoin Cash are the most valuable cryptocurrencies today.
The content presented above, whether from a third party or not, is considered as general advice only. This article does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Mitrade does not represent that the information provided here is accurate, current or complete. For any information related to leverage or promotions, certain details may outdated so please refer to our trading platform for the latest details. Mitrade is not a financial advisor and all services are provided on an execution only basis. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks. *CFD trading carries a high level of risk and is not suitable for all investors. Please read the PDS before choosing to start trading.