Do you know how something great starts? It just emerges and creeps in slowly until it takes the whole system by storm. That’s what happened with the cryptocurrencies that came in 2009 and who would have thought of them being the biggest businesses in just a few years. I will explain the best cryptocurrency to buy right now.
In the last decade, about 6000 different cryptocurrencies were created. Not all of them kicked off to be a part of our best cryptocurrency to buy right now in 2020, a few blew up.
The total price of all coins added together was $216 Billion the same time last year while now it is over $337 Billion! It means a leap of over 4000%.
Just imagine if you had invested a minimum of $2000 last year in the best cryptocurrency, you would have over $40k by now which is a huge sum!
By cryptocurrency, do we mean Bitcoin?
Cryptocurrency is a lot more than Bitcoin. There are many other coins too that have got into the line and are doing better too. For example! Litecoin and Ethereum have better development and market cap than all other cryptocurrencies.
Investing in cryptocurrencies might seem a little dangerous to you because there have been speculations about the future of cryptocurrencies. I don’t know how will these currencies work in the future but I do know that Blockchain is the technology of the future. Even if there isn’t Bitcoin. I can assure you that there will be something else with the same model and giving the same ROIs.
Best Altcoin 2020:
Best Cryptocurrency to Buy Right Now in 2020:
If you want to know about the best cryptocurrency to invest in 2020, then believe me I cannot even name it.
Bitcoin? There is No chance. Because It is costly and also uncommon to destroy your funds.
Ripple? Yes, it did go up in the start but not now. It is heading back to where it started.
Therefore we can not say which is the best cryptocurrency in 2020, because there is no tip or channel which can tell us about the crypto market. Except for the Crypto market cycles.
Crypto market cycles- Cryptocurrency trends in 2020:
Cryptocurrency will follow some trends for sure. Also, these trends are going to be the same for ICO in 2020. However, these trends are not going to be unique.
We must know how Bitcoin arise in its early time. Bitcoin shoots up because of everybody big investment.
However, let’s take a look at how Bitcoin fall back?
Almost all investors believed a fallback, they withdrew their investments when they saw their money increased more than 400%. In a day, Bitcoin fell from $19000 to $12000. The reason behind it was the large withdraw of investments and the introduction of Altcoins.
Altcoins – Cryptocurrency of the future:
Altcoins are those coins that replaced Bitcoin during the early months of 2017 and distributed the market cap largely. Altcoins such as Ethereum and Steem showed 300-700% of the increase in their values as the Bitcoin market cap significantly dropped from 65% to 33%.
The investors withdrew money from Bitcoin and invested in Ethereum, which went from $7 a coin to $350 a coin in just a year!
Moreover, guess what, Ethereum started to depreciate too! The reason behind this was the monopoly of investors. Because investors moved their money from one to the other cryptocurrency just for their profit. It is all about buying and selling at the right time.
How to get maximum profits? A crypto trading guide:
There are a few ways how an investor can profit in the best manner from trading in the crypto markets.
1: Hold when in the rise, Sell when expecting a fall:
This strategy might look to you as absurd and something that is not wise. It is a commonly accepted perception that while dealing in cryptocurrencies, one should sell when the price is rising.
However, this is not what we recommend. Many people sold bitcoin when it was moving upward from $12k thinking that it might drop anytime soon only to regret when it crossed $18k mark. The wise ones sold their investments in bitcoin just when it started to depreciate. They sold it around $16k-$17k and got much better profits.
The best cryptocurrency to invest is the one you possess and you can make the most out of it by timing your sales and purchases according to how the market is behaving not how it will behave.
2: Risk exposure:
Remember, “More risk means better returns”.
It is the key to success in any kind of business. Dealing in cryptocurrency is all about understanding the behaviour of the crypto market and then acting likewise. And taking the risk of buying and selling.
When you see many people are willing to hold expecting a boost in the market. Do not go for these expectations and simply sell if you want to.
Similarly, if people are all selling just because the prices soared to much wait for your chance until the price reaches the peak.
The moment it starts getting low, just sell and you will end up in better profits.
Recommended Reading: Tips For Handling Multiple Currencies.
Best cryptocurrencies for 2020 / A list of potential coins:
Now after we have briefed you well about the best cryptocurrency strategies to earn profits. Let us take you to the list of the best cryptocurrencies to buy right now in 2020.
Here is a brief chat about the prices of cryptocurrencies too!
Cryptocurrency Markets by TradingView:
1) Bitcoin (BTC) / Best Cryptocurrency to Buy Right Now:
Best cryptocurrency bitcoin whatever you say. Bitcoin is the best cryptocurrency to look for in 2020. The way it took on the crypto market with its climb to $13k while giving millions in profits to those who had invested is awesome.
Even now, when there are so many ICOs in the market including some well-set cryptocurrencies, Bitcoin is still among the priorities of the investors.
Because most investors do believe in getting more profit from Bitcoin rise more than $20k. Everyone knows that Bitcoin is expensive and a small percentage change can make a bigger value for the investors. For example, if the prices increase by 1% in a day, the investors will get 130$ from every single Bitcoin without doing anything.
People may think that Bitcoin is the only cryptocurrency. They aren’t wrong in doing so as it is the biggest cryptocurrency at the moment with a market share of over 70%.
And of course, it is the most talked of to as it is still dominating the market. If yes, then my friends you are looking at the best cryptocurrency to invest in 2020 right now!
When to invest in Bitcoin?
That is the most difficult question that you could have ever put across to me! I mean just look at how the prices have changed drastically in a short period. No one can predict if Bitcoin prices are going up or down soon.
As of now, those who had invested their money in 2020, many happy congrats to you guys.
You are going to be rich soon!
2) Ethereum (ETH) / Best Cryptocurrency to Buy Right Now:
Best cryptocurrency Ethereum is credited to overtake 20% market cap of BTC in late 2017. The sole reason behind Ethereum being the best cryptocurrency to buy right now in 2020 is the fact that it is backed by an online payment transaction system that serves as the basis of the huge amount of online buying and selling.
While Ethereum started as low as $7 at the start of 2017. Ethereum ended up at over $400 in the closing days of 2017, thus making one of the most handsome profits for investors in the crypto market. It did take off nicely but soon it fell back and lost around a quarter of its value in terms of US dollars.
People come to me and ask that should they invest in Ethereum or not. I just reply you think me of being the CEO of the company?
Well, who knows when Ethereum price will go to reach its peak. Only that can be done is, you can see how the trends have changed in it and then decide if you are into investing in it or not.
Do You Know that Ethereum is Far Better Than Bitcoin in Many Ways? Just Take a Look at Why:
Bitcoin is not considered the best cryptocurrency to buy in 2020 anymore. Just because Ethereum has a lot stronger base for developers. It isn’t just a coin being traded and getting famous. It even allows you to build your cryptocurrencies too as a developer which will increase its value.
Not only this but Ethereum also allows you to build applications on their blockchain platform to manage and support the supply chain of your businesses. It even makes it easier for complete projects based on blockchain to launch themselves without much of headache about the developer part.
So, are you thinking Ethereum to be the best cryptocurrency in 2020? We all hope it becomes as there isn’t much chance of it falling as Bitcoin prices fell at the end of 2017.
3) Ripple / Best Cryptocurrency to Buy Right Now:
Ripple paid off all the investors with huge amounts of profits in 2019. It is the most profitable currency for 2019 and is expected to work the same for 2020 too. In terms of statistics, the Ripple started at $0.0065. An overwhelming 37000% of the profit!
Also in terms of market cap, it is second to bitcoin-only with $142 Billion. This means it will experience a significant climb in 2020 too!
4) Litecoin / Best Cryptocurrency to Buy Right Now:
Litecoin is the third most profitable coin in 2019 and is likely to remain the same for 2020 too. While it experienced an increase in the value of nearly 5000%. Investors have similar expectations from it too.
The market cap of Litecoin is also significantly high around $19.2 Billion. Which shows its decent chance to improve a lot.
You can just take a good nap while your possession of Litecoin will keep on adding dollars in your wallet!
High price and a market cap of $9 billion means it is significantly a risky one to invest in.
But, I hope you remember, ”More risk means better returns”.
It is priced at around $101.2 per coin and it is expected to shoot up similarly as bitcoin did.
A few thousand dollars invested in Dash right now may make you a millionaire at the end of 2020!
Monero is one of the safest cryptocurrencies to buy-in 2020. While it costs around $93.72 per coin. You should not worry about losing much if you lose at all. It has experienced solid growth over the years and now it has a market cap of $1 Billion.
We suggest you buy a few coins and wait what they turn up to be at the end of 2020.
The good thing about Nem coin is that it is not expected to depreciate. The reason behind it is the fixed number of coins. If you buy Nem at around $0.062209 right now. Either you will make a profit as Nem increases in value or the value will stay as it is.
For all those who like to invest safely:
Nem is a very good option. Right now, its market cap is around $1 Billion and it is expected to increase in 2020 as well.
The last of the best cryptocurrency to buy in 2020 is the NXT coin. It is the cryptocurrency that is expected to give at least a profit of 500% in 2020 or even more. The reason behind it is. It is backed by a blockchain network and payment processing platform that is expected to make huge profits in 2020.
Currently, it has a market cap of over $0.5 billion and is being sold at $0.51 in the crypto market.
In short, you can invest in any cryptocurrency in 2018 and can earn huge profits as well till the time you remember, ”More risk means better returns”