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What is the Best Cryptocurrency to Invest in 2020?
21 Nov 2020
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2020 has been the worst year. It brings a lot of problems such as the bushfires in January and the flooding in March. It also has the COVID-19 that destroys all the plans we had for the remainder of the year. Because of the virus, we cannot travel, we cannot go out with our friends, and in some people's cases, they cannot even work.
Being out of work is not easy. Similarly, it can still be hard to live comfortably even with the government's job seeker payments. It is for this reason that interest in investments, specifically cryptocurrency, has increased so much this year.
Investing and tracking cryptocurrency become a habit that many people have been doing with their spare time recently. With the potential to make money at home during quarantine, it is no secret why this has suddenly become popular.
So, if you are just starting out in the world of cryptocurrency or want some information about it, here are the best cryptocurrency to invest in 2020:
Some people will say that the best cryptocurrency to invest in would be one that has a low barrier of entry. This may include Ethereum. At the time of writing , Ethereum is worth $477 AUD. While it does have a few volatile moments, it does stay consistently high. While Ethereum is a fantastic cryptocurrency and is a great gateway crypto for newcomers to invest in, it is not the best cryptocurrency to invest in.
The best cryptocurrency to invest in 2020 is Bitcoin.
Bitcoin is the most well-known cryptocurrency. Currently, it has a 79% market share among all the leading cryptocurrencies, and at the time of writing it is worth $14,938 AUD.
While this is a high carrier of entry, it is predicted to pay off in the long run. According to the most recent Crypto Research Report (CRR), Bitcoin is expected to reach almost $400,000 USD before 2030. This mind shattering when you think about it.
If we are talking about what is the best cryptocurrency from the viewpoint of a pure investment, then Bitcoin is definitely the one to go with. There are also hundreds of videos and blogs about Bitcoin so you can look up the pros and cons and decide if it is for you. Unlike stock trading, the top investors do not keep secrets. Instead, they like to share their knowledge to help those just starting out.
Every investment no matter how small does contain inherent risks. You should always do adequate research on where you plan to invest your money. Also, don't just read success stories, but also read those who have lost or fail in investing. So, you should have a better perspective of what you are getting into.
If you are interested in tracking cryptocurrencies and seeing how they stack up against each other. Visit our main page where we track all cryptocurrencies on an hourly basis.