It’s been over a decade since the first cryptocurrency showed up. From then till now, hundreds of other cryptocurrencies have joined the fray. They are thus making Blockchain technology one of the most advanced technologies in the business world.
Though there have been highs and lows, cryptocurrencies like Bitcoin have enjoyed a good market share since its introduction, hitting its peak in 2017. Regardless of the tumultuous times cryptocurrencies have faced, they aren’t going anywhere anytime soon.
The question is, is it wise to invest in cryptocurrencies considering the uncertainties?
Before you get clogged up in this, here are a few statistics that could help:
- Here’s a better question to ask; Which cryptocurrency should I invest in right now?
I put this list together based on the cryptocurrency 2020 market capitalization.
Market Capitalization: $220,521,932,472
Everyone who is into crypto investment knows that Bitcoin is the boss of all cryptocurrencies. It’s safe to say that it is the best cryptocurrency to invest in this year. Its notoriety might be because it was the first to gain global acceptance.
Since the introduction of Bitcoin in January 2009, the rise and popularity have been phenomenal. It hit its peak in December 2017 when it traded for $19,269. No crypto coin has ever achieved this feat.
Bitcoin may not be as high as it was in 2017, but it is doing great against the USD. It is the most popular crypto in the global trading markets. It is in a class of its own selling at over $10,000 per coin. Thus, it remains the best cryptocurrency to invest in.
Market Capitalization: $33,343,121,274
Ethereum may not be a match to Bitcoin, but it is the most popular alternative to it. If you’re looking for the next basket to put your eggs after Bitcoin, Ethereum is the perfect one. It has weathered the competition from other coins that came after it to remain a favorable alternative.
The value of Ethereum has grown by over 92% since the beginning of 2020. Though it’s trading at $253 per coin, it is expected to hit $300 per coin before the end of the second quarter. It’s an indicator that you’re likely going to rake in profits if you invest in Ethereum.
The remarkable thing about Ethereum is that you don’t only trade with it; you can also codify it. You can use it to build decentralized applications to protect you better from fraudulent activities.
3. XRP (Ripple)
Market Capitalization: $16,874,729,951
To clear the air, Ripple is the company that manufactures the Ripple Transaction Protocol (RTXP), while XRP is the currency used to trade on the Ripple platform. That is to say that XRP is the digital asset that powers Ripple.
XRP is not like any other cryptocurrency that we know. Ripple made XRP in such a way that you don’t mine it. This saves you a lot of overhead costs of hardware required to mine coins. Hence, it is the best crypto if you’re looking for an under $1 investment.
This smart move by Ripple is instrumental in making XRP the third largest and most traded cryptocurrency in the market as of 2020.
Market Capitalization: $7,519,612,114
For anyone familiar with the world of cryptocurrency, you will notice that Litecoin and Bitcoin share many similarities. Albeit, Litecoin isn’t a match to the value of Bitcoin. It’s safe to say that Litecoin is to Bitcoin what silver is to gold.
Though Litecoin shares similarities with Bitcoin, there are a few areas where they differ. For one, the developer of Litecoin is a known engineer who worked for Google. Hence there’s nothing anonymous about its history.
On another note, it’s faster to process transactions on Litecoin than it is on Bitcoin. If you’re looking to invest in a coin that shares similarities with Bitcoin, then Litecoin is the crypto to go for.
5. Bitcoin Cash
Market Capitalization: $7,447,859,790
You’re probably as confused as I was when I learned about this crypto. What in the world is Bitcoin Cash? Does it have any link to the Bitcoin we know?
The answer is as you guessed. Bitcoin Cash is an off-shoot of the Bitcoin we know. For good reasons, there was a need to split the big guy to accommodate the growing demand for Bitcoin.
From the comparison I drew between Bitcoin and Litecoin, one of the drawbacks of Bitcoin was, and still is, the delays in processing transactions. It was this hole that Bitcoin Cash filled up for crypto investors. It also contributed to its popularity and rise in market cap.
Market Capitalization: $5,482,125,801
With all the attention focused on the big coins like Bitcoin, Ethereum, and Litecoin, it’s becoming difficult to look at the investment potentials of coins like EOS. However, with all the saga surrounding these top coins, EOS has a platform to become a big-league player in the crypto world.
According to the developers, EOS is a performance-oriented coin. In other words, it was built to scale. It has scaled its way into the top ten best performing cryptos in the world. You may wonder to consider investing in it.
There’s an incentive that comes with investing in EOS. If you’re a token holder, you stand the chance of earning more tokens that would increase in value with time. That way, your investment makes money for you while you aren’t necessarily doing anything.
Any investment you make in these cryptocurrencies is sure to yield a handsome ROI. However, it is a good idea to invest in knowledge and read reviews, articles, and so on before investing in any cryptocurrency. This can be likened to using custom writing review websites such as Online Writers Rating to help choose the best content writer. Cryptocurrencies are increasing in value and equipped with the knowledge; you will be able to make the best decision.