Digital transformation has taken the world by the storm, and eventually, everything is fast transitioning to its digital avatar, money also moving to digital assets and currencies. Due to fast-changing financial ecosystems and increased penetration of technology in our lives, more and more people are now directing their wealth towards digital assets.
The new-age investment medium is fast, profitable, and very intriguing to the tech-savvy users of the present times. Cryptocurrencies are an excellent digital asset that provides long term and short term benefits along with potential immunity to the economic slowdown.
Top Cryptocurrencies To Make Profit in 2020
There are several cryptocurrencies available in the market these days which you can buy; however, there was an international spree of the devaluation of cryptocurrency in 2019 due to which things looked grim for the crypto enthusiasts. Having said that it is no doubt that certain coins have exceptional valuation and can render a long-term returns on investment if procured wisely. While Bitcoin is the most popular and talked about the crypto coin, its valuation went down dramatically last year. The crypto index is volatile; hence one must practice caution while buying them.
Let us look at some of the most popular cryptocurrencies in the market right now.
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Bitcoin
BTC remains the most significant cryptocurrency to invest in 2020 w even when the various developers offered it with reduced rewards of -6.25 instead of the 12.5 Bitcoin for the verified blocks. Bitcoin would likely be reigning with the dominance index of 65 to 70 percent ahead of other coins. There is a prospective price growth predicted for Bitcoin in 2020, and with the use of Lightning Network, the Bitcoin interface would be more affiancing and decentralized. Bitcoin has maintained a streak of closing above 10000 USD for 62 days in a row which showcases its strong stance in crypto markets.
NEO
Project NEO is another widely looked upon cryptocurrency, which is all set to break the conventional norms of crypto, including the fact that it is the first currency originating from China. The platform is an excellent combination of real and digital assets giving a more efficient option to the users. Its trading mechanism is very reliable, and the users can transfer funds through a crookedly decentralized system giving them more flexibility. The NEO platform may also bring its ICO, and it is currently trading for 1114 USD.
Ripple
XRP is touted as the leader of banking systems and infrastructure, and the company has recently grabbed news for its relationship with leading international banks across countries wherein it has build systems for cross border transactions. The high stake partnerships have established Ripple as one of the most reliable environments for crypto exchange. The crypto is highly profitable socially for long term investing.
Ethereum
The term Ethereum is all over crypto markets for the last few weeks. The crypto is based on the smart contracts which can be used across various digital platforms for transactions. The value of the currency may rise due to the rising demand of the Ethereum blockchain. Ethereum is something the investors can consider in 2020.
EOS
The experts are voicing to include EOS in the most reliable and prospective cryptocurrencies in the future. The market watchers believe that if significant companies decide to transition to the blockchain, they would preferably use the EOS network. The EOS platform is easy, scalable, and highly practical to operate devoid of the drawbacks which Ethereum is posing. Currently, EOS stands for $2.59.
Conclusion
Having talked about the top five cryptocurrencies for investment, one must diversify their funds and invest in a combination of tokens. The need is to select the exchange services from reliable platforms carefully.