We will focus on the top 5 best cryptocurrencies to invest in 2020, these are also the ways you should know when investing in top cryptocurrencies. After reading this guide, you will know how to get started and which cryptocurrencies to invest in.
When I started investing in the cryptocurrency market, everything seemed to be in a hurry. Many blogs offer a list of top cryptocurrencies, but after reading, I only know what the name of the coin is, I don't know why I should invest in them.
Current market capitalization is about: 203 billion USD
Current price: 9328 USD
Creating blocks: 10 minutes / block
Bitcoin ranks number 1 on the list of the top 5 cryptocurrencies to invest. Since its release in 2008, Bitcoin has been the best and most popular cryptocurrency, both in terms of market capitalization and transaction volume.
••Despite the volatility, Bitcoin is one of the most stable cryptocurrencies because it is difficult to manipulate bitcoin transactions by individuals or some organizations, which requires a lot of money ..
••Bitcoin is scarce and useful. Take gold as an example. Limited amount of gold. With the new mining, the remaining gold will decrease. When the market gets chaotic, the price of gold usually goes up, making it one of the best investments to avoid risk. The same is true of Bitcoin. Only 21 million bitcoins. As time goes by, demand increases and supply decreases, prices eventually rise.
••Compared to other cryptocurrencies, Bitcoin has the highest brand identity, liquidity, and has become the most preferred by the growing number of traders, including well-known companies. like Expedia and Overstock ..
••Bitcoin also makes cross-border payments easier. You can clearly see how much bitcoins you own or how much bitcoins are in circulation. No bank can block your transaction or close your account because Bitcoin can be sent from this place to anywhere in the world ..
••Bitcoin transactions will cost more because the increasing demand puts pressure on Bitcoin's network. The bitcoin system only processes about 7 transactions per second, works slowly, and consumes energy.
••The use of BTC is still largely dependent on the availability of the Internet.
••The Bitcoin system cannot be scaled down, which limits the speed and number of transactions ..
••Some people think that the appeal of Bitcoin is that it can be anonymous so BTC can be used for illegal or anti-social behavior.
••The core of Bitcoin strongly encroaches upon the powers of the government, banks, regulators and the censorship system, so BTC can face a lot of opposition and anti-social behavior. .
Although Bitcoin is the most liquid and easily traded currency, it is still easily subject to short-term price fluctuations.
It is often advised not to invest more than 10% of your total assets. Before you start using real money, it is always important to learn how to invest in Bitcoin. So you can get acquainted with the first market on most bitcoin exchanges ...
2. Ethereum (ETH)
Market capitalization is about: 23 billion USD
Current price: 194 USD
Ethereum block creation: 15 seconds / block
Ethereum was created in 2015, is a computing platform to introduce smart contracts that allow developers to develop distributed applications (dApps) based on blockchain technology. Ether (ETH) refers to the token supporting transactions on the Ethereum platform ..
••Ethereum has a huge scale with the dApp ecosystem. There are currently 250,000 developers using Ethereum to start their smart contract projects.
••Ethereum has the support of investors. There are large venture capital funds investing in projects built on ETH, which directly affect the price of Ethereum. For example, the virtual game CryptoKitties, created on Ethereum, received $ 12 million in investment.
••Ethereum has a clear future plan. Ethereum has always been at the forefront of industrial innovation and its plans not only in blockchain, but also in the tech community. Ethereum's project list has many potential projects that will develop in the future, including: Crop insurance, agricultural decentralized data, Savings Wallet, Cloud Computing, P2P betting, etc.
••Not enough instructions and information. Very few online tutorials and documentation make it difficult for beginners to develop on Ethereum.
••There are usually version upgrades and technology upgrades at any time. Developers need to move the project technology and network from the old Ethereum platform to a newer, more efficient platform, which will keep developers busy.
••Technical problems. Sometimes, the Ethereum wallet will not properly sync with the blockchain.
••Certainly, Ethereum has proven to be the most successful altcoin to date, and it is expected to continue to grow in the future with its popularity ...