Top 5 Most Worth Cryptocurrencies In 2020

Top 5 Most Worth Cryptocurrencies In 2020


1. Bitcoin (BTC)

Current market capitalization: US $ 203 billion
Current price: 11356 USD
Creating blocks: 10 minutes / block
Bitcoin ranks number 1 on the list of the top 5 cryptocurrencies to invest. Since its launch in 2008, Bitcoin has been the best performing 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 on, demand increases and supply decreases, prices eventually rise.
- Compared to other cryptocurrencies, Bitcoin has the highest brand recognition, liquidity and has become the most popular because of the growing number of traders, including well-known companies such as 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 one place to anywhere in the world.
Defect :
- 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, is slow, and consumes energy.
- The use of BTC money still depends largely 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 market first on most bitcoin exchanges, such as Mitrade.


2. Ethereum (ETH)

Market capitalization: 23 billion USD
Current price: 204 USD
Supply: Unlimited
Ethereum block creation: 15 seconds / block
Ethereum, 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,
In fact, Ethereum is the preferred platform of most dApp developers.
Advantages :
- 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.
- Using an uncommon programming language. Ethereum uses its own programming language, Solidity, resulting in code errors. A platform similar to Ethereum has emerged. It allows the use of more familiar languages ​​like Javascript.
- Technical problems. Sometimes, the Ethereum wallet will not properly sync with the blockchain.
- Certainly one thing is that Ethereum has proven to be the most successful altcoin so far, and it is expected to continue to grow in the future with its popularity.


3. Litecoin (LTC)

Release year: 2011
Market capitalization: 4.6 billion USD
Current price: 78 USD
Litecoin was released in October 2011 via the open source platform, Github. Litecoin is the first altcoin in the world and has been listed in the Top 5 cryptocurrencies with market value since 2017.
As a modified version from Bitcoin, the Litecoin blockchain takes the original code from the BTC blockchain and improves on what it can and cannot do. Therefore, Litecoin is faster, lighter and cheaper than the original BTC.
- Litecoin is open source: Because Litecoin is a fork of BTC and has open source, this is an open source system that makes it easy to update software to meet the changing needs of the market.
- Litecoin is scalable. All other cryptocurrencies, including Bitcoin, cannot be scaled. It means the more transactions in the world, the more time and money each transaction takes.
- Compared to Bitcoin, Litecoin is very fast. It processes transactions every 2.5 minutes, while Bitcoin takes 10 minutes.
- Litecoin also has a relatively low transaction cost and has significant advantages over Bitcoin and many other cryptocurrencies. This makes it a great cryptocurrency.
- The Litecoin mining process is intended to be open to amateurs, while bitcoin mining requires more professional miners to use expensive hardware.
- Note: Segwit allows technologies like the Lightning Network to conduct transactions instantly, anonymously and cheaply.
- Although it is still efficient and faster than Bitcoin, its uniqueness has diminished with the technical update of Bitcoin and other cryptocurrencies.


4. Ripple (XRP)

Market capitalization: 13 billion USD
Current price: $ 0.301
Ability to create blocks: 3.5 seconds / block
XRP was launched by Ripple in 2012 and is now one of the largest cryptocurrencies in the world. Ripple has developed a range of solutions to change the global payment industry. Its main goal is to establish a global payment network, thus ensuring more efficient transactions between world financial institutions. XRP is the name of the digital currency that its transactions operate on Ripple's network.
- Block chain technology enables Ripple to support all transaction needs in different environments, with no time, location or even currency restrictions. In other words, its biggest advantage comes from unlimited payments.
- The Ripple network supports instant transactions at a low cost. Cross-border payments, with traditional fiat, usually require 3-5 days for confirmation, but XRP takes only 4 seconds.
- Fast and cheap trading is the main advantage of Ripple. Currently, the price of each transaction is $ 0.30. XRP cannot be mined, so there's no need to pay mining fees.
- Ripple works with more than 100 banks, including Bank of America, Swiss Bank, Standard Chartered Bank, American Express Bank and many others.
- Unlike many other cryptocurrencies, Ripple is regulated. Because Ripple needs to work with traditional financial institutions, they require more sophisticated compliance.
- Strictly speaking, XRP is not a completely decentralized digital currency. The majority of Ripple coins (XRP) are controlled by a small number of Ripple companies. This means that Ripple is at greater risk of volatility.
- Despite the high market value of XRP, its actual circulation is not large. In this case, it means that the risk and volatility will be higher. Historically, Jed McCaleb, one of Ripple's founders, announced that he would sell his personal 9 Ripple, causing the price to plummet.
- Although the Ripple system itself is well publicized, cross-border payment is a very complicated process, current users are mostly speculative and they have not made good use of Ripple for cross-border payments.
- The true goal of Ripple is to replace the Global Interbank Financial Telecommunication Association (SWIFT), not to become a world currency. SWIFT is used for cross-border transactions between banks in many different countries. There are about 7,600 SWift members worldwide.


5. Bitcoin Cash (BCH)

Market capitalization: more than 5 billion USD
Current price: 289 USD
Bitcoin Cash (BCH) is an alternative to Bitcoin and is one of the most valuable cryptocurrencies in the world. Bitcoin Cash (BCH) was first introduced on August 1, 2017 as a hard fork of Bitcoin. The basic idea of ​​BCH is to use the Bitcoin protocol and increase block size, which will allow the Bitcoin Cash network to process more transactions at a lower cost.
- Unlike Bitcoin with a block size limit of 1MB, BCH has a larger block size (8MB). Therefore, many transactions can be processed at a lower cost, with better efficiency.
- Bitcoin cash was created to reduce the time and cost of bitcoin transactions. If scalability problems continue to be a problem for Bitcoin, this could be good news for Bitcoin cash.
- Bitcoin cash recognizes Bitcoin's weaknesses and is technically improved to make the BCH coin more secure.
- Like Bitcoin, the total supply of Bitcoin Cash is equal to 21 million. Before buying, consider the impact of this limited supply on the value of money.
Defect :
- Bitcoin cash is highly centralized. Currently, there are 3 mining groups, accounting for more than 51% of the BCH amount. This is quite risky because the future of BCH is highly dependent on these 3 mining groups.
-Bitcoin cash has not been widely accepted. Just like any other virtual currency, the value of BCH will be affected by community acceptance.

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My name is Nguyen Nguyen Binh - I am a photographer and filmmaker, a graphic designer. My blog will be devoted to cryptocurrency news and tutorials on filmmaking, photography and design.

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