If you are new to the World of Cryptocurrencies, it can seem like learning a New Language! Yes, this Technology can take a strategy to wrap your head around. If you are reading this however, you may be ready to come on a journey.
When I first started out, it was all about understanding Blockchain, Creating a Digital Wallet, Watching for Bull Vs Bear Markets, Bitcoin and working out where to invest my hard earned money into a coin that will go the distance.
In this changing climate of 2020 and all that has been thrown at us this year, there is no better time than RIGHT NOW to jump into this strange New World and embrace Cryptocurrency. So whether you suddenly find you have all the time in the world to discover for yourself the Best Cryptocurrencies to Invest in for 2020 or you just want a “Hot Tip”, this guide is for you!
What we are going to Cover:
1. Best Cryptocurrency to Invest in 2020
2. How to Find the Best Cryptocurrency Coins for 2020
2.1 Rule #1: Study the Whitepaper
2.2 Rule #2: Market Capitalization
2.3 Rule #3: Check the Trading Volume
3. What are the Best Cryptocurrencies to Invest 2020
3.1 Ripple
3.2 Monero
3.3 Dash
3.4:Etherium
3.5 Bitcoin
3.6 Tips Before You Invest in Cryptocurrency
4. Conclusion
LET’S GET STARTED
1. Best Cryptocurrency to Invest in 2020 - Of course, it does depend on what you are looking for with your Crypto Experience. Are you looking at Cryptocurrencies as:
A. Replacement for Money? Finding a long term coin to utilise which is interchangeable with regular purchases and more private than cash.
B. To Becoming a Trader? Actively selling when your coin goes up or buying when the dollar is low or Passively set up “Stop Losses’” so you don’t lose too much if the coin goes down.
C. To be a Hodler? Buy and sell Crypto at any price and sit on them long term (By default, this is where I find myself these days).
Whatever you choose, it is more about understanding the “White Paper” (and becoming friends with it) and sustainability of the Digital Coin and less about liking the name of the Digital Currency (as I learned the hard way).
A Word of Warning, beginners Luck can be real, HOWEVER if you are wanting to take your Cryptocurrency Experience to the next level, you are going to have to learn to research.
2. How to Find the Best Cryptocurrency Coins for 2020
Apparently, Cryptocurrencies are valued at over $185 Billion Dollars, so there is no doubt that people taking responsibility of creating their own wealth are getting onboard. So how do you get to your pot of gold in amongst the options to invest in over 5,290 cryptocurrencies currently traded (according to CoinMarketCap)? This bring us to our first Crypto Hack.
2.1 Hack #1: Study the Whitepaper- As I mentioned above, the White Paper can become your best friend. To know the intention of the company and what Mission they are on can help you to align with something you do believe in. Much like books, some of these are easier to read than others but are vital to learn to get your head around to maximize your time in the Crypto World. Get to know their team and understand their “Blockchain” technology.
2.2 Hack #2: Market Capitalization - The next stage here is to check the value of the coin you have been reading about. Being able to buy a Thousand coins of something that is not worth $.000001 of a cent and not moving fast can be a loss in the end. (Cheap is not a key to wealth in Crypto!!) See how much of this coin is in circulation as the value of the coin does go up with the demand of. If the coin has 80% of its coins in circulation, this can be a more stable coin to invest in.
2.3 Hack #3: Check the Trading Volume - To find a more established coin, discovering the volume and liquidity is important to get your head around. High Levels of volume give you a guide of what the market thinks of the coin and other Traders desire to invest in it. This means the trading volume will be higher. If a coin has more than 10 million dollars Trading Volume, you may have missed the boat with that coin to make you a high profit (unless day trading in which selling when you make 5% is advisable to play the safe game). Getting greedy becomes Gambling vs Investing.
3. What are the Best Cryptocurrencies to Invest 2020
Coins value will always rise and fall and the bounce back after the fall depends on the stability of the coin and demand for. Just to be mindful, there are teams out there who will invest a lot at the same time and as the value of the coin rises to an all-time high, will sell just as quickly.
People I knew watched the dance of certain coins before they ever invested a cent into their chosen Cryptocurrency. Watching the Cryptocurrency Graphs is almost like watching a dancer and realising they’re doing the Waltz. When you can recognise the patterns, it becomes more predictable to work out it its about to go up or down.
3.1 Ripple is a coin which has been around for years and means business! Besides the fact Ripples trading price right now is at the lowest it has been since I first discovered it in 2017, it has some exceptional qualities.
Ripple has always been a great coin for HODling and this fact will remain as this coin goes back up. The fact it went down to its 2017 value and is rising really does give credit to its sustainability. It is a coin that works with the Bank which can this fact affect its long term value.
Due to this, it is a Digital Currency interchangeable and instant – much like a bank transfer! This is quite an admirable feature if you are looking to make transactions with cheaper fees than the banks. The quantity of transactions Ripple can sustain is over 1500 per second meaning it is a lot faster than some of the more well-known coins like Bitcoin.
Ripple has done some amazing things over the years and if the past is anything to go by (which we believe it is), this surely is a coin to watch!
3.2 Monero has always been a solid coin based on its usability. Monero, in its own right, is a standalone Coin. This coin is all about privacy and is untraceable by the Government. This can lead to it being utilised for some “interesting Purchases” but as all things, this is sustainable and a coin that is commonly used worldwide. Anonymous Transaction are completely available and has only 17 million coins in circulation encouraging its value to withstand the test of time. All things considered; this coin keeps its value
3.3 Dash has stayed within the winning formula of having limited coins (slightly over 9.4 million) in circulation and great Blockchain Technology. When a lot of coins went down during the events of 2020, the value of Dash rose over 62%.
As mentioned above, you don’t want to back a coin just because it is cheap but the price is right at the time of writing this!
3.4 Etherium we all know, like our children, we’re not meant to have a favourite however, Etherium, you’re good value! 2020 has really set a lot of thing apart from their “competition” and Etherium you’re a winner in our eyes!
Etherium has some impressive backing.. From Intel to Microsoft to J.P Morgan, Fortune 500 companies can’t get enough of it! To make it even better, it has a multitude of uses and is a functional coin and like Bitcoin, it has limited coins in circulation meaning its value will only rise. And then there is Bitcoin.
3.5 Bitcoin - Love it or hate it, Bitcoin is here to stay! Beside the fact it is a household name, they will not be circulating anymore coins (even though it is STILL in high demand). What this means for you is the value of Bitcoin only goes up long term. Those who held onto their Bitcoins sure are glad they did!
To make things even more interesting, with Cryptocurrencies going into the mainstream arena, it's great to know the amount in circulation does not change. Bitcoin was the first Cryptocurrency and has proven itself sustainable time and time again! The longevity of this coin is to be admired and has set the pretence for all that follow. Bitcoin is making Bank and has 8 times more value than Etherium!
3.6 Tips Before You Invest in Cryptocurrency
Crypto seems to be quite seasonal and buying coin seems to be quite favourable in September through to the end of the year. This is known as Seasonal Buying Patterns.
There are some Announcements said to be made this year which are going to be game changers – Needless to say, watch this space!! We are living in Changing times and a lot of people have experienced a lot of uncertainty. In times people speak of recession and job lay-offs were at an all time low, people have been seeking out alternatives to stay ahead and Cryptocurrencies sure are a part of this!
4. Conclusion
To recap, we believe that the best cryptocurrency to buy in 2020 are Ripple (XPR), Monero (XRM), Dash, Ethereum (ETH) and Bitcoin (BTC).
Thank you for reading our suggestions for what coins we are investing in for 2020, we’d love to hear your thought!
Again, please read the White Paper, get familiar with the Blockchain technology, monitor the Cryptographs and learn to research in order to thrive at this time!
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