It's another extraordinary year for invested cryptocurrencies, with prices fluctuating wildly among the top ten tokens and plenty of heated discussions about the future of the technology. One of the biggest news stories of the year is Facebook's Project Libra, which promises to achieve widespread adoption of digital currencies. Despite good intentions, the project and other ambitious projects have lost some momentum, resulting in a drop in confidence in the invested cryptocurrency market.
2020 is sure to bring renewed interest in major tokens, helping to put cryptocurrencies and blockchain at the forefront of technological advancement. There hasn't been much change since we published the list of tokens to invest in 2019, but there are new reasons why you should invest in at least some of them in the coming year.
Bitcoin
Although it may seem like old news, investing in Bitcoin is still a good idea. Since the surge in December 2017, the token's volatility has been greatly reduced, much like the roller coaster ride in 2019. Most analysts believe that the era of incredible returns from bitcoin is over. However, if your goal is small returns in the long term, the world's first cryptocurrency is a relatively safe option.
Although the average Bitcoin price is expected to remain stable this year, that doesn't mean day traders have nothing to look forward to. In fact, the tokens are expected to experience several drops over the course of the year, making it ideal for advanced traders who want to short invested cryptocurrencies. On the other hand, there are several reasons to buy Bitcoin and HODL between now and the end of 2020 and beyond.
Whether you are planning to invest in bitcoin for the long term or want to sell short, eToro provides the right platform to manage your investment. In addition to the user-friendly mobile platform that allows you to use leveraged trading and charting tools, it can also automatically copy successful investors through its CopyTrader tool.
Ethereum
Ethereum's legacy still appears to be second only to Bitcoin. Ethereum is more than just a cryptocurrency, it also shows the world the possibility of working smart contracts and platforms for creating distributed applications (DApps). For some time now, the coin has been losing market share to its competitors, notably EOS and to some extent NEO. However, although EOS has attracted more and more developers, market sentiment is still favorable towards Ethereum.
After splitting from what is now called Ethereum Classic, Ethereum is expected to continue to grow and improve. Its main drawback is its lack of scalability, and some people believe that its transition to a proof-of-stake (PoS) algorithm will help its development. Although progress is slow, it is not hopeless. In 2020, Ethereum will become a cryptocurrency that everyone thinks about.
If you plan to use Ether in your project or want to trade it for profit, you need a reputable cryptocurrency exchange. Binance allows you to buy Ethereum using any of the fiat currencies or any of the 400+ supported cryptocurrencies.
Ripple
Ripple, or rather XRP, is an overlooked cryptocurrency that has secretly beaten traditional financial institutions during the disbursement process. Ripple will certainly play an important role in 2020, with its use in hundreds of banks and other institutions around the world. Unlike most invested cryptocurrencies competing for the system, XRP has found a way to convert internally. As such, it exists in a space of limited competition, with potential markets reaching into the tens of billions of dollars.
Although the most famous cryptocurrency exchanges support XRP, not everyone offers built-in wallets. The best way to protect your digital currency is with a hardware wallet, none of which are as secure and convenient as the Ledger Nano X. NanoX is portable and lightweight, cannot be remotely compromised, and supports over 1,000 different cryptocurrencies.
Although bitcoin is still the world's largest cryptocurrency by market capitalization, its value comes primarily from speculation, not availability. Satoshi Nakamoto's currency has many flaws, including its inability to evolve, but arguably the biggest flaw is the lack of consensus among its communities. This led to the difficult process of creating Bitcoin Cash.
Although it is still far from reaching Bitcoin's market value, the price of Bitcoin Cash is expected to rise in 2020 after falling in late 2019. Market analysts believe that this upward trend will continue throughout the year and continue into 2021.
If you want to get Bitcoin Cash ahead of the expected Bitcoin Cash appreciation, Coinbase will provide some of the fastest token delivery services at a very affordable price. Additionally, the exchange interface is perfect for beginner traders, and Coinbase Pro is the perfect companion for experienced traders.
Litecoin
Litecoin is a Bitcoin prodigy and the most successful of several cryptocurrencies that use Bitcoin's core code. Its success is based on its ability to innovate and develop code by resolving defects. Unlike Bitcoin, the Litecoin community appears to operate more efficiently, which can improve scalability and security.
Like all altcoins that use Bitcoin's codebase, Litecoin's price movements generally mirror Bitcoin's price movements. In 2020, this should mean that litecoin will be considered a stable investment, offering smaller but safer returns. This currency is also much cheaper than Bitcoin and could attract a wider audience in the future.
In order to invest in Litecoin without worrying about secure storage, Plus500 offers Litecoin CFDs. These high-risk financial instruments allow you to speculate on price movements and leverage, with only a fraction of the upfront payment required.
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