Three Altcoin Prospects to Check Out for Now for 2020

Three Altcoin Prospects to Check Out for Now for 2020

By Mina Down | Mina Down | 14 Sep 2019


The cryptocurrency world has seen many ups and downs, and there are certainly more to come. But now the latest “crypto winter” is over and a “crypto spring” has begun. In other words, cryptocurrency markets are heating up again. This makes it a good time to invest in tokens and coins before prices rise too high. Below I discuss three projects I think are great options for investing right now.

How to Choose?

First and foremost, I have chosen the altcoins below because I think each project has tremendous potential to be successful. The second consideration is affordability. Each coin or token below is very inexpensive right now.In some cases, several thousand can be bought with just a few dollars. The low price represents a lower barrier to entry for those without much income or who are new to cryptocurrency. In fact, many people first acquire crypto through faucets and microtasks, which results in only a few dollars worth of BTC at best. The great thing about the altcoins discussed below is you do not need much more than that to buy in.

BitTorrent (BTT)

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In July 2018, TRON acquired BitTorrent, the biggest peer-to-peer file sharing protocol in the world. It currently has over 100+ million users and makes up 33% of the total internet traffic. TRON’s plan is to combine its blockchain network and BitTorrent’s P2P network to create an infrastructure for a decentralized content distribution platform (akin to a new Internet) for a global user base. The partnership between TRON and BitTorrent has been dubbed ‘Project Atlas.’

The TRON network will infuse the torrent ecosystem with storage and bandwidth. And while BitTorrent has always had an incentive model built into it in that users who upload faster can download more quickly — with TRON’s blockchain technology BitTorrent will now be able to compensate users with TRX tokens for participating and contributing. Users can use TRX to access special features, such as getting faster downloads by bidding with TRX tokens. BitTorrent peers will also be able to offer TRX as an incentive to other users to run clients on faster networks and to seed torrents for more extended periods of time.

Given the strength of TRON and how established BitTorrent already is, it is unlikely Project Atlas is going to fail anytime soon. The BTT token has not been trading for long and it is at a very low price at the time of this writing. With these two factors in mind, I cannot imagine BTT will not rise in value quite a bit in the next crypto bull run.

Buy BTT on Binance or Kucoin

IoTeX (IOTX)

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IoTeX is an open-source project founded in 2017 that is building a new privacy-oriented blockchain platform to enable the Internet of Things (IoT). The IoT refers to the possibility of digital communication and interaction beyond computers and personal devices to encompass all of the various devices around us with digital capabilities. The number of IoT devices is expected to surpass 50 billion by 2022. This mass of Internet-connected devices will need secure methods of communication and automation in real-time. This is the niche that IoTex is planning to fill.

The architecture of IoTeX is based on a root blockchain that provides security and governance for the network, while also managing various sidechains to carry out specific functions. These sidechains can connect IoT devices based on specific parameters, such as working in similar environments, having similar trust levels, or having a similar function. IoTex is also focussed on privacy. Two of the privacy mechanisms it has developed are ring signatures and a relayable payment code that hides the address of a transaction receiver.

IoTeX’s most direct competitor is IOTA. The main difference between the two is that IOTA uses Directed Acyclic Graph (DAG) technology to address scalability. However, this requires global consensus. IoTeX is opting for another solution, called Roll-DPoS, which uses a randomized and scalable variant of the delegated proof of stake framework.

The first token to be issued on the IoTex chain is VITA, which is being distributed free through airdrops to those who stake their IOTX. Visit hereto learn more about this.

Buy IOTX on Binance or Kucoin

PundiX (NPXS)

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PundiX is a new blockchain project that aims to use cryptocurrency to create a global cashless payment system. Its blockchain-enabled Point-of-Sale (XPoS) devices let shops, cafes and convenience stores sell cryptocurrency and accept cryptocurrency payments. All a merchant has to do is have an XPoS in their store. The device works with a simple mobile wallet (XWallet) that customers use to make payments in physical stores. It has a simple interface for buying and selling BTC, ETH, XEM, and QTUM. It also has a check-out menu to execute purchases with cryptocurrencies. With every transaction, the XPoS prints a receipt for the customer and tracks orders and inventory for the store owner.

PundiX is an exciting project because it already delivered its first 500 units to participating businesses in Hong Kong in June 2018. Pundi is now accepting orders from merchants for the XPoS system and plans to deliver 100,000–700,000 devices to at least 12 different countries over the next three years. The PundiX project builds on the success of Pundi-Pundi, which is already a popular (non-blockchain-based) cashless payment app in Indonesia that uses smartphones to make instant payments in retail and restaurant outlets. The price of NPXS is also extremely low at the moment, which is one reason to consider buying some.

Buy NPXS on Binance or Kucoin

Conclusion

There you have it. Three of my top picks for investing small amounts of money in crypto right now. I think each of these altcoins is going to have a strong 2020.

Subscribe to my Medium and Twitter channels if you would like to learn more about blockchain and cryptocurrency projects. 

If you have any questions about this article, please comment in the section below. Thank you!


Mina Down
Mina Down

Researcher and writer interested in blockchain projects that will add to the social good.


Mina Down
Mina Down

Writer interested in blockchain projects that will add to the social good. Regular contributor to Hacker Noon, Coin360.com, blockdelta.io, and other great venues.

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