Bitcoin Profit - Anton Kovačić

Best Cryptocurrencies to Invest in 2020

Bitcoin Profit - The Top 5 Cryptocurrencies for new traders
Published days ago on July 31, 2020
By Anton Kovačić
Bitcoin Profit - The Top 5 Cryptocurrencies for new traders
Whether you love cryptocurrencies already or are just curious to learn more about them, it is plain to see that digital coins are going to play a huge role in how money exchanges hands going forward. There has never been a better year than 2020 to start considering a diversified portfolio of cryptocurrencies.

Whether you love cryptocurrencies already or are just curious to learn more about them, it is plain to see that digital coins are going to play a huge role in how money exchanges hands going forward. There has never been a better year than 2020 to start considering a diversified portfolio of cryptocurrencies.

The Top 5 Cryptocurrencies for new traders

The following coins are fairly well known and easy to start exchanging online. It takes a bit of learning to get going with crypto and these five cryptos are an excellent place for anyone to start.
Bitcoin Profit - 1. Bitcoin (BTC)

1. Bitcoin (BTC)

Bitcoin is by far the most popular cryptocurrency and the progenitor of the entire digital marketplace. BTC is the easiest to start with as almost all exchanges let you buy them for standard fiat currencies. Chances are, you will need some Bitcoin just to trade for a majority of the other cryptocurrencies available.

They are by far the most stable of all cryptocurrencies though it is worth noting that all digital currencies are pretty volatile compared to the biggest NASDAQ stocks. That said, the price has remained high and they will be a solid store of value for the foreseeable future. BTC is extremely liquid and orders are filled almost immediately. If this is your first time trading cryptos then be aware that it does take a while to process transactions through the blockchain so you don't immediately get your coins once an order is filled.

Despite the high asking price, Bitcoin is poised for serious growth sometime this year. 2020 will house the third ever halving of BTC. This is a process by which the number of coins mined every few minutes will be reduced in half. The two previous halvings that took place in 2012 and 2016 respectively marked massive spikes in the going rate. The upcoming halving will most likely do the same as the supply will slow down and the price will rise to balance everything out. While nobody knows the exact date of the halving, getting in as soon as possible is the best way to make sure you can take full advantage of the price spike.
Bitcoin Profit - 2. Litecoin(LTC)

2. Litecoin(LTC)

Litecoins are very similar to Bitcoin and even run on a modified version of BTC's original source code. Litecoin has become incredibly popular ever since it solved one of the biggest problems that plagued the original blockchain. LTC boosts the speed of transactions to levels that are far more suitable for real-world businesses and day traders.

This has helped LTC maintain the sixth-largest market cap of all cryptos and makes it even easier to trade than Bitcoin when it comes time to exchange. After the price spike that BTC will undergo in 2020, LTC will surely follow suit as many more investors enter into the digital marketplace for the first time.
Bitcoin Profit - 3. Ethereum(ETH)

3. Ethereum(ETH)

ETH has risen to be the second-largest crypto of all time by having a wide array of other tokens under its vast umbrella. It uses a technology known as smart contracts to facilitate the projects of many other teams who are developing their own computer and phone applications. Initial Coin Offerings or ICOs were first started under Ethereum which allowed companies to make their own tokens and have investors fund their projects by buying them early.

This crowdfunding approach has served ETH well as they now are heavily traded by everyone in the crypto world who is interested in at least one of the other projects made possible by Ethereum. As even more startups flourish, you can expect the price of ETH to steadily rise.
Bitcoin Profit - 4. Binance Coin(BNB)

4. Binance Coin(BNB)

One of the largest crypto exchanges in existence is Binance. For those who aren't aware, crypto exchanges facilitate trades between investors and make money by charging a processing fee. Binance is unique in that it charges for transactions with their proprietary BNB coins. Users get larger discounts the longer they hold BNB so the value of each coin steadily rises as the supply starts to decrease.
Bitcoin Profit - 5. Basic Attention Tokens(BAT)

5. Basic Attention Tokens(BAT)

Basic Attention Tokens are rewarded to anyone who uses the Brave browser and watches the ads that vie for Brave support. Brave comes equipped with an ad blocker that halts all malicious or unethical ads from being displayed. Instead, it curates specific ads that aren't intrusive of attempting to steal data. Once an advertiser is approved, they purchase BAT and hold it until people interact with their ads.

Once an ad is viewed, the person receives some BAT from the advertiser in question. Users can also directly support the content creators they love by donating BATS instead of sitting through commercials. The result is a clean ecosystem of ads that make browsing on Brave an enjoyable experience for all.

The Top 5 Cryptocurrencies for new traders

These coins are making some serious headway in the market but are still relatively unknown compared to some of the most famous coins. However, betting on emerging tech is one of the oldest ways in the book to see explosive returns. Each of these platforms offers tons of growth potential and serves as a great way to spread out your assets as we move to 2020 and beyond.
Bitcoin Profit - 1. Monero(XMR)

1. Monero(XMR)

Monero has become a favorite among internet users who value their privacy and try to limit the amount of data collected by large companies. XMR allows users to transact without leaving a trace by making each trade untrackable. Not even the two parties interacting know exactly who the other is and this anonymity is why Monero is the most used cryptocurrency on the dark web.
Bitcoin Profit - 2. NEO

2. NEO

The NEO project hopes to emulate the success of Ethereum in the Chinese market. Since China has such strict regulations in place, NEO was created so that Chinese users can access the world of possibilities introduced by a network of smart contracts. The key difference is just how centralized the NEO platform is. There are less than ten nodes that decide what occurs on the network which goes hand in hand with China's stricter rules.

As more investors look to leverage the Chinese market, you can expect a rise in the price of NEO. There is a great potential for growth in that territory since many things that enjoy popularity in the rest of the world aren't legal there.
Bitcoin Profit - 3. Beam

3. Beam

Beam has set out to do for Monero users what Litecoin managed to provide Bitcoin users when it first launched. Transactions involving Monero are incredibly slow as the data must bounce off many points in an erratic fashion in order to remain encrypted. Beam's goal is to boost transaction speeds while still providing privacy to its users.

Much like with Litecoin, as more people get tired of waiting for slow speeds they will gradually start using Beam. As the demand for quicker private transactions increases, so too will the price of each coin. Liquidity is also likely to remain steady as the transactions themselves are much easier to process.
Bitcoin Profit - 4. Nexo

4. Nexo

Nexo offers a unique wallet service that lets users act as lenders and borrowers. Those who need to borrow funds can put their Nexo up as collateral until their debts are paid. Holders of Nexo can just as easily lend their funds and make solid returns as money is paid back to them.

Cryptos that provide a tangible service have done extremely well in terms of growth over the last few years. As more people turn to peer lending platforms, the popularity and value of Nexo will no doubt rise in tandem.
Bitcoin Profit - 5. Cardano(ADA)

5. Cardano(ADA)

Cardano is another smart contract platform like Ethereum. What makes it interesting is how they hope to provide tools for new developers that make creating fresh projects that much easier. There are two different programming languages supported and this allows more coders to dive into the platform and bring their dreams to life.

As more new companies enjoy successful ICO launches, the price of ADA will surely rise in a similar fashion to ETH. While it may not become as massive, there is still a healthy room for growth that should excite any investors looking to score big on promising new crypto.
Bitcoin Profit - Anton Kovačić

Anton Kovačić

Anton is a finance graduate and crypto enthusiast.
He specializes in market strategies and technical analysis, and has been interested in Bitcoin and actively involved in the crypto markets since 2013.
Apart from writing, Anton’s hobbies and interests include sports and movies.