The last year has been an explosive roller coaster ride in the world of digital money. The most well-known of all cryptocurrencies, Bitcoin (BTC), started the year with a lazy 3,800 US dollars and started a breathtaking rally - the price shot to 8,000 US dollars for the first time in the middle of the year and peaked at around 12 in mid-July .ooo US dollars. From August, crypto fans unfortunately had to go on bumpy roads and the crypto currency jumped between 9,000 and even 6,000 US dollars. Of course, the number one in the crypto market has also pulled the other coins with it and they have experienced similar ups and downs - a look into the past reveals: After a low, a new all-time high can come very quickly. So let's take a look at the best of cryptocurrencies in 2020 and their potential.
Bitcoin: the undisputed number one
Friends of the more inconspicuous coins could of course scream out and join the movement “Bitcoin is worn out”, but one must not forget that the most famous of all cryptocurrencies has been in pole position on the coin charts for many years and no other currency yet had such a high market capitalization. Therefore, Bitcoin will clearly continue to be one of the best cryptocurrencies in 2020! Furthermore, one has to say very clearly about Bitcoin (BTC) that the coin has paved the way for many more. The most important characteristic of Bitcoin is that it is decentralized. The Bitcoin network is not subject to any institutional control. This means that no central bank and no state can control the amount of money and set the framework conditions - the network controls itself. The entire cosmos of digital money has developed on this basis. So: As a pioneer in crypto, Bitcoin must not be ignored under any circumstances.
IOTA: a step towards the future
One of the most exciting cryptocurrencies in 2020 is an absolute technology coin: IOTA. If you are frowning and wondering how a coin can land at number 20 on the chart among the best cryptocurrencies in 2020, then the answer is: the clutter is to blame! All crypto fans should understand what is meant - namely the Tangle, the heart of IOTA. And this technology is very promising: After initial contact with the automotive industry giant VW, other real-life adaptations have also relied on IOTA - the Hyperledger technology is now to be coupled with the Tangle. This guarantees free transactions in the supply chain. The advantages are more than promising: The tangle consists of many strands that connect nodes to one another and each of these points represents a transaction. So all the jumble consists of transactions. Unlike the blockchain, each transaction is confirmed by two previous transactions, so the verification takes place in the network itself. Elaborate mining is therefore not necessary. A real use case that has already made several companies sit up and take notice: IOTA is not about to get lost in the jumble, but benefits from its individuality. IOTA should be on your radar as one of the best coins in 2020!
Ripple: the gold treasure for business
While many cryptocurrencies are intended more for the end user, Ripple has set itself the task of being a digital currency for companies on an international level. That is precisely why a coin that is geared towards business should be one of the best crypto currencies for 2020. The solution is to create a common standard for payments and use XRP as a digital asset. Ripple is the only digital asset that was specifically developed for financial institutions and payment providers. The Internet of Value Creation plays a major role here: the transfer of values for companies is the main focus of Ripple (XRP). That makes it one of the few digital assets with a real use case.
Litecoin: the hidden champion
Even if Litecoin courses don't always look promising, the cryptocurrency is the hidden champion among digital money. Why? Quite simply: if you buy Litecoin, a quick transaction is waiting for you, you have improved storage efficiency and you can send almost free payments. The peer-to-peer internet currency can be transferred in real time and is therefore of course also very popular in real life: With extensive support in trade and commerce, as well as a significant trading volume and liquidity, Litecoin (LTC) is a proven addition to the well-known Bitcoin. The matador among the coins is one of the best cryptocurrencies 2020 due to its versatility!
Binance Coin: crypto exchange coin takes off
The coin of the crypto trading platform Binance was created through an initial coin offering: Binance Coin (BNB) runs on the Ethereum blockchain and follows the ERC20 token standard. Originally intended to finance the Binance exchange with great features for users, the Binance Coin has turned out to be a real take-off in 2020. This may be due, among other things, to the great extras that digital money has in store for investors:
- Paying the trading fees on the Binance Exchange and the equivalent of 50% discount on trades (during the first year)
- Transaction solution provider Monaco has added support for Binance's BNB token to its platform, which includes the Monaco Visa Card and mobile app
- The live streaming video platform Uplive supports BNB in purchasing virtual gifts
EOS: The Greek goddess
It is not for nothing that the name of the cryptocurrency resembles that of the goddess of the dawn. EOS not only has space on its blockchain for its own currency tokens, but also forms the basis for other currencies through attached smart contracts. This is why digital money is known to insiders as the “blockchain operating system” - unlike Ethereum, EOS not only offers smart contracts, but can also carry out transactions. Due to its versatility, the crypto currency EOS is clearly one of the most dazzling crypto assets for 2020.
Tether: On top of the mountain
Tether and teatime have something in common: Because sometimes you have to be patient, especially if you want to make it into one of the best crypto assets in 2020! But Tether (USDT) will be on the top of the mountain by the end of this year and will surprise you with great features: the cryptocurrency is a re-regulated token issued by the company Tether Limited. Tether is traded as a so-called stablecoin 1:1 to the US dollar. Also - or precisely because Tether is one of the most controversial and most discussed cryptocurrencies in the financial world, it is among the best cryptocurrencies in our ranking! Because: attention often drives the course upwards. Here you can see the advantages of the tether network:
- Seamless transition: it makes it easy to transfer real fiat money to digital currencies
- Secure transaction: The use of established blockchains such as Bitcoin and Ethereum offers the user the necessary security for payment transactions
- Efficient and Inexpensive: Fast transactions with low fees
- Widespread: Many major exchange platforms allow trading in USDT
Even if it is often discussed whether a stablecoin really corresponds to the basic idea of an independent, decentralized cryptocurrency, one cannot deny that Tether with its innumerable uses comes close to the idea of an ideal token! Therefore, Tether makes it among the best cryptocurrencies of 2020.
Bitcoin Cash: Big Performer in 2020
The hash war will now be as familiar to everyone as the cold war - from the battle between two crypto giants, the new currency bitcoin cash (BCH) developed from the bitcoin. The main difference between the two coins is the block size of up to 8MB. What does that bring? A faster purchase and a higher transaction speed than Bitcoin. The only drawback with BCH: the transactions are not yet very quick - but a so-called express surcharge provides a remedy and guarantees faster transfers. Why Bitcoin Cash is one of the best cryptocurrencies in 2020? BCH has been the absolute top performer on the coin table since the beginning of the year. Underestimated by many, some investors have now rubbed their hands together and benefited from the steep rise in prices. So you should keep the daughter of the most famous cryptocurrency on your radar screen.
Stellar Lumens: light at the end of the tunnel
You will already notice - 2020 will be the year of crypto adaptations. Therefore, a coin, or shall we rather say network, is of course indispensable among the best coins of 2020: Stellar Lumens (XLM)! Stellar Lumens (XLM) is a cryptocurrency project that serves as an intermediary for financial transactions: the Stellar network acts as an independent instance between different currencies. As an intermediary for financial transactions, it wants to translate from one currency to another. The network as a trading center: So if someone wants to exchange euros for US dollars at a certain rate, they can put a corresponding offer on the network. This is then stored there until a suitable counterpart is found and the money exchanges. True to the motto: “No Borders, No Nation”, Stellar Lumens manages to cross political and geographical borders in the monetary system with the help of blockchain technology and the in-house crypto currency XLM. In short: Stellar is in the broadest sense about financial inclusion, i.e. connecting everyone to the international monetary system. Stellar thus forms the internet of money and holds the philosophy of crypto currencies: decentralization! It's not for nothing that XLM is one of the best of cryptocurrencies.
Libra: On the radar
Not yet launched, but still in sight! In the last year we hardly got around this cryptocurrency: Libra. Everyone was talking about the Facebook project - and there was great excitement. Of course, Libra contradicts the basic idea of digital money immensely, because there is a billion-dollar company behind it and the opponents of centralization have loudly protested against it. Nevertheless, one cannot close one's eyes to the extent that the launch of the Facebook coin would bring with it: Billions of users would have immediate access to Libra and the spread of cryptocurrencies would soar - which of course would also increase the BOOM for more digital ones Assets. Therefore, it is definitely worthwhile to have the Zuckerberg currency on your screen as one of the best crypto currencies and to continue to watch the development in 2020!