Nowadays, there is a lot of investment platforms you can invest in. There are stocks, property, and the most recent investment platform is the cryptocurrencies. Cryptocurrencies are known as digital assets that can be used to purchase goods or to invest in. It is still potentially great since the years passed by. However, too much of cryptocurrencies actually decreased the value of the cryptocurrencies itself. 3 years ago, most people invest in a lot of cryptocurrencies and in the end, it lost value. However, there are still some of the cryptocurrencies that are still relevant and potentially profitable in 2020.
The business world is willing to invest in cryptocurrency although they know that they need to be careful and take a lot of time to do research. It is no easy task even for the big boys. If you are just starting or just an individual that is trying to invest in new things, cryptocurrency might be your option. Just like any other investment, cryptocurrencies investment does have its own risk. These are some of the cryptocurrencies that you can look into if you want to get started. 5 cryptocurrencies that I listed below are known to be potentially profitable in 2020 and this is not a definitive analysis for the investment.
BITCOIN
Up to this day, Bitcoin is still relevant and is considered to be potentially profitable in 2020. Created in 2008, this cryptocurrency surged into one of the most profitable cryptocurrencies of all time. There are times when the value surged high upward in a short time and going down just after that. Most people would just sell their Bitcoin and forget about it but this is the best moment to invest in it again. in the middle of this year, probably May, there is a 50% off reduced rewards by this first and major cryptocurrency developer. This will like to bring dominance over other cryptocurrencies. There will be half of every bitcoin generated in 10 minutes and most likely the demand will be higher against the supply.
Significantly, it may affect the growth of its price in 2020. Just like in 2016, the price might skyrocket to another new high but there are also speculations that it will not break the previous highs. Currently, it is regarded as the most dominant cryptocurrency with 60% of the total cryptocurrency market share. It is a proven cryptocurrency with a lot of platforms that support it such as decentralized applications, micro-payments, and e-commerce.
ETHEREUM
Ethereum is slightly different from Bitcoin as it is based on practical smart contracts. The fact that Ethereum is an open-source blockchain-based distributed computing platform makes it as a promising cryptocurrency in 2020. It was proposed in 2013 and launched in 2015 starting with 72 million coins minted. Ethereum is mainly used by many projects for the digitization of transactions. In 2020, the value keeps increasing as there are higher demands due to its blockchain and functions. After Bitcoin, it is the second largest cryptocurrency in the world.
Speculators believe that the value is unlikely to go down in 2020 because it has one of the most active developer communities in crypto space. This week, the trend is still rallying and there is are no signs of people suddenly dumping it. However, the fate of this cryptocurrency will depend on the Proof-of-Stake algorithm. Ethereum is still relevant because of its solid reputation in the community and clear regulatory stance.
RIPPLE
Ripple is a Switzerland based financial service company. Ripple value is closely related to its product and services. The value for Ripple (XRP) will continue to surge upwards as Ripple expands its banking services to institutions worldwide. Ripple (XRP) is still relevant in 2020 because it enables banks to settle cross-border payments in real-time. With no transparency and low-cost, there is a high demand for this cryptocurrency.
Currently, it is ranked third just after Bitcoin and Ethereum. According to Tim Draper, the value for XRP is set to skyrocket in the next few months. Ripple (XRP) is considered good for the long-run so do not expect huge profits in 2020. This is to be expected as recently Ripple(XRP) has announced that it will be buying $30 million of MoneyGram shares at $4.10 along with buying $20 million shares in the coming 2 years. This might be the indicator to look forward to the progress of this cryptocurrency.
ENJIN COIN
For investors that still does not know about this cryptocurrency, Enjin Coin(ENJ) is considered as the largest online gaming community. It has more than 20 million users ad 250,000 gaming communities. Founded in 2009 and based in Singapore, this foreign cryptocurrency is known as one of the potentially profitable cryptocurrencies in 2020. The recent partnership with Samsung and Microsoft has set some eyes onto it. Enjin Coin(ENJ) is also expected to to enter the top 50 most capitalized cryptocurrencies. This is due to rising demand for gaming and virtual items. Enjin Coin(ENJ) has earned over $150 billion per year revenue. This is a good indication that this cryptocurrency is not slowing down and might be expected to gain more revenue in 2021.
Binance
Binance coin is a cryptocurrency that facilitates trades on the Binance platform. It was launched in 2017 ICO in order to fund-raise the development of the Binance Exchange platform. Binance offers competitive rates and receives positive reviews from the community. Binance coin is expected to strengthen as it had just added crypto lending services in 2019. It gained astounding growth since the launch and showing no signs of slowing down in early 2020. Even in 2019, the price for this coin rose since February and broke a new historic high record against Bitcoin. According to Trainingbeasts, the rate will grow up to $19.55.
These are 5 of the cryptocurrencies that are considered potentially profitable in 2020. However, keep in mind that this is just an opinion and you should do extensive research before investing. Keep in mind that anything could happen in investment and trading. There is no guaranteed success without consistency.
Written by: silencerz111
