Wondering what cryptocurrency to buy right now? Check out our list of the top 5 cryptos to buy in 2020.
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Bitcoin
Bitcoin is the OG cryptocurrency. It was the first blockchain-based project in history and has inspired the development of thousands of other crypto assets in its wake. While it’s not the most feature-rich coin out there, BTC remains the largest cryptocurrency by market cap and is used by buyers and sellers around the globe.
Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is used to build decentralized applications (DApps) on its platform. The advantage of using Ethereum over other platforms is that it allows developers to create DApps that are not controlled by any central authority. This gives them a lot of freedom and flexibility when it comes to how they want to design and develop their applications.
Ethereum is still in its early stages, but it has a lot of potential. It is currently the second largest cryptocurrency by market capitalization, and it is widely regarded as the most promising blockchain platform after Bitcoin.
Litecoin
Litecoin, one of the oldest and biggest cryptocurrencies by market cap, has outperformed Bitcoin in 2020 so far.
Bitcoin prices have been on a tear this year, rising more than 170% through early December. But Litecoin, often referred to as the “digital silver” to Bitcoin’s “digital gold,” has outperformed even the original cryptocurrency thanks to a rally that began in early October and has accelerated in recent weeks.
At its peak on December 13, Litecoin was up more than 400% from its 2020 lows, while Bitcoin was up “just” 190%. Litecoin’s market value was also nearing $10 billion for the first time since 2018 as investors moved into riskier cryptocurrencies.
Litecoin’s recent price rally can be attributed to several factors, including growing interest from institutional investors, a surge in DeFi activity on Ethereum, and increasing adoption by businesses and merchants.
Investors are also betting that Litecoin will benefit from an upcoming update that will make it easier to use for payments. The update, which is scheduled to go live next year, will reduce transaction fees and make Litecoin’s blockchain more scalable.
Bitcoin Cash
Bitcoin Cash (BCH) is a direct result of a Bitcoin hard fork that occurred on August 1, 2017. The fork was a result of a years-long debate surrounding scalability solutions that could allow the Bitcoin network to accommodate more transactions without compromising decentralization. Proponents of BCH argue that the increased block size limit is necessary in order for Bitcoin to be usable as a global peer-to-peer electronic cash system.
Bitcoin Cash trades under the ticker BCH and was created as a result of a hard fork of the Bitcoin blockchain on August 1, 2017. At the time of the fork, anyone owning bitcoin was also credited with the same amount of Bitcoin Cash.
Ripple
Ripple is a crypto currency that was released in 2012. It is different from other digital currencies because it is not decentralized. Ripple is more like a payment network than a currency. The Ripple network allows people to make global payments using any currency, including crypto currencies. Ripple is the third largest crypto currency by market capitalization.
Binance Coin
If you’re looking for a good cryptocurrency to buy right now, Binance Coin should definitely be on your radar.
Binance Coin is the native token of the Binance cryptocurrency exchange, and it has a wide range of uses on the platform. For example, you can use it to pay fees, get discounts on fees, and receive rewards for holding the token.
Not only that, but Binance Coin is also one of the most popular cryptocurrencies in the world, and its popularity is only increasing. In fact, Binance Coin is currently the sixth-largest cryptocurrency by market capitalization.
If you’re looking for a solid cryptocurrency to invest in, Binance Coin is a great option.
Cardano
Cardano is a smart contract platform with a unique consensus algorithm, Ouroboros proof of stake. Cardano aims to run a decentralized blockchain that can be used by governments and corporations. The currency associated with Cardano is called Ada.
Polkadot
Polkadot (DOT) is a sharded blockchain protocol that enables horizontal scaling of decentralized applications, networks, and parachains. It was created by Web3 Foundation. DOT is used for stake-based governance of the network as well as to bond parachains and parathreads. Its token also serves as a tool for transaction fees and incentive mechanisms.
Stellar
Stellar is a distributed ledger platform that connects banks, payments systems, and people. It enables fast, low-cost international payments. Stellar can handle large numbers of transactions quickly and cheaply. And it’s getting a lot of attention from the banking sector.
The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help microfinance institutions and developing nations provide affordable financial services to their citizens.
The native currency of the Stellar network is called lumens (XLM). Lumens are needed to move money across the network. They also help prevent spamming by making it more expensive to create new accounts on the network.
If you’re looking for a cryptocurrency with real-world use cases and strong partnerships with major financial institutions, Stellar could be a good choice for you.
Chainlink
Chainlink is a blockchain-based platform that enables smart contracts to securely access off-chain data sources, like data from financial institutions or online databases. By doing this, Chainlink makes it possible for smart contracts to be used in a wide range of real-world applications.
Chainlink was one of the top-performing cryptocurrency in 2020, and it looks like 2021 could be another big year for the project. In February, Chainlink partnered with Google to launch a new product called BigQuery Oracle, which will allow smart contracts to access data from Google’s BigQuery data warehouse. This is a huge deal, as it opens up a whole new world of possibilities for what smart contracts can do.
If you’re looking for a cryptocurrency to buy right now, Chainlink is definitely worth considering.
