The top and rising Cryptocurrencies to buy in May 2020 which will top the ranks in the world of digital currency.
Cryptocurrencies have been on the rise and have reached record breaking heights. The top cryptocurrencies of 20 include some of the major game changing digital currencies which are likely to continue to rise in value.
As we come to the end of 2018 and are on the brink on a new year, investors and even the common man look forwards to the best investments available. 2019 was a year that was marked by the emergence and rise of many cryptocurrencies. Bitcoin, being one of the major cryptocurrencies soared to great heights, breaking the $20,000 barrier and stabilizing at $16,000.
If you’re unaware of what the whole Bitcoin bandwagon and cryptocurrencies are, they are nothing but virtual currency which are not monitored by any Governments but by the individuals involved in the transaction process; the miners who make up the community which allows Bitcoin to exist. To give you an idea of how popular cryptocurrencies are, this year Bitcoin was accepted as a method of payment by schools in a few countries. If this has tickled your fancy and has left you eager to invest in it,here are the top cryptocurrencies to look out for in 2020:
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1. Bitcoin:
The Bitcoin graphs are proof enough of how high the virtual currency has skyrocketed. One of the top cryptocurrencies to watch out for is definitely Bitcoin. The value of Bitcoin in 2020 is intended to rise and keep rising and is estimated to reach a massive $50,000 by 2021. Many Governments have warned against bitcoin owing to their inability to control it, however, bitcoin continues to remain popular and has even made it to major exchanges.
It is a currency which is accepted throughout the world and 2020 may see huge rise in the value of bitcoin. If you’re new to it, do your research and invest wisely as it is one of the most volatile currencies but at the same time can be your ticket from rags to riches. 2019 has left us eagerly waiting for 2020 and the value of bitcoin. The best that one can do is hope that the value of bitcoin continues to reach heavenly heights.
2. Ethereum:
This is the second-largest cryptocurrency has is likely to dominate the world of cryptocurrencies by in 2020. It’s market capitalization accounts for a massive $44,678,905,662. While it may not exactly reach the value of bitcoin, it has the possibility of remaining more steady in 2019. If you’re looking for the top cryptocurrencies in 2020, Ethereum is certainly one of them.
In fact, the co-founder of Ethereum shared future upcoming plans for it in 2020 and it looks promising. Ethereum has surpassed the number of transactions even made by Bitcoin. It’s even easier to mine since it favours graphics cards instead of machines only made for a particular virtual coin. Ethereum is bound to reach great heights and solidify its presence as one of the top cryptocurrencies of 2020.
3. Ripple:
Ripple is considered as a technology which acts as both cryptocurrency as well as a digital network where payment of financial transactions takes place. The ripple cryptocurrencies were formed by Jed McCaleb and Chris Larsen was formed in the year 2012. The coin for the following cryptocurrency is known as XRP.Ripple works in an open source and decentralized platform which works in the digital transfer of the money in various form such as USD, Bitcoin, Yen to name a few. It is a great cryptocurrency to invest as it has a lot of potential to scale up in the future.
4. Litecoin:
Looking for an alternative to bitcoin in 2020? Give litecoin a go! Why did litecoin even come about? Well, it was created to manage some of the flaws in the original bitcoin protocol. Did you know that litecoin is the first altcoin to exist after bitcoin? The virtual currency was introduced all the way back in 2011 and has continued to impress as it has risen to a high value in 2018 and is likely to follow a similar trend in 2019.
Considering its trend and rise in value, litecoin has earned its place and position in the list for the best and top cryptocurrencies of 2020.
5. Zcash:
Zcash is one of the cryptocurrencies which attempts to solve a problem. So, what is this problem? This problem is anonymous transactions. Zcash like other virtual currencies can be mined as well and the graphics cards which are usually used to mine it are graphics cards manufactured by NVIDIA. In 2020 not only will Zcash be a good alternative to bitcoin, but it will also be a perfect way to enable criminal-free anonymous transaction. Zcash can be purchased or even mined and in 2020 this is bound to be among one of the topmost virtual currencies.
6. Monero:
Monero is a widely known digital currency and is most popularly known for its anonymity. This makes it have a feature of commonality with Zcash. Monero is a virtual currency that hasn’t had the best of starts but has picked up over time and is a currency to watch out for in the digital world in 2019. Monero is fairly young digital currency and can skyrocket at any point of time in 2020. It was launched in 2014 and deserves a place in the top upcoming virtual currencies of 2020.
7. Bitcoin cash:
This is among the youngest cryptocurrencies. Created in 2018, it has been developing at a rapid rate and was even accepted into the exchange by Coinbase. A few days back, it rose to an all new record breaking high value. The currency was created as an alternative to bitcoin and could very well be the best currency of 2020. Since it’s still in its infant state, it has a long way to go and could possibly shoot through the roof in terms of value in 2020. Maybe purchasing a few bitcoin cash coins and hoarding them till the value rises isn’t too bad an idea.
So, what does 2020 have in store for cryptocurrencies? Are the top cryptocurrencies for 2020 something you might be interested in investing in?
The world of digital currencies appears to be extremely promising in 2019 and we may witness a major shift in the way transactions are carried out as the blockchain seems to be one of the most favoured system since it fast and convenient for carrying out transactions. Investing in the right coin could even make you a millionaire. The above list contains some of the most promising cryptocurrencies for 2020. As always, be aware, invest wisely and reap massive gains!
