With so many options on the table, it can be hard to decide which cryptocurrency to invest in. Here, we break down some of the best options for 2020.
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Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In the Ethereum protocol and blockchain there is a price for each operation. Ether is the currency of the Ethereum network and it is used to pay for transaction fees and computational services.
Ether can be purchased on cryptocurrency exchanges and it can also be earned through mining. Ethereum miners are rewarded based on their share of work done, rather than their share of the total number of blocks mined.
While Ethereum has been very successful since its launch, it is still in a relatively early stage of development and there are many protocols and projects that are being built on top of it that have the potential to increase its utility and value.
Litecoin is a cryptocurrency that was created in 2011 as a fork of Bitcoin. It is similar to Bitcoin in many ways, but it has a faster block time and a different hashing algorithm.
Litecoin has become one of the most popular cryptocurrencies, and it is often touted as the silver to Bitcoin’s gold.
There are several reasons why investors might want to consider Litecoin over other cryptocurrencies. First, Litecoin is one of the most efficient coins for payments, with low fees and fast transaction times. Second, Litecoin has a large and active community, with a wide range of wallets and services available. Finally, Litecoin has proven to be a resilient coin, surviving multiple forks and forks of other coins.
All of these factors make Litecoin an attractive investment for those looking to get into the cryptocurrency space.
Bitcoin Cash (BCH) is one of the oldest and most well-known cryptocurrencies. It was created in August 2017 as a fork of Bitcoin (BTC). BCH is unique in that it has a larger block size than BTC, which allows for faster transaction times and lower fees.
One of the main benefits of investing in BCH is that it is a deflationary currency. This means that there will only ever be 21 million BCH in existence and that the number of BCH in circulation will decrease over time. This makes BCH a good long-term investment as it is unlikely to lose value over time like fiat currencies.
Another benefit of investing in BCH is its strong community. The BCH community is very active and has a number of dedicated developers working on improving the protocol. This makes BCH a good investment for those who are looking for a project with solid fundamentals.
If you’re looking for a crypto to invest in right now, Ripple is a good choice. Ripple is a digital asset that enables instant, certain and low-cost international payments. It is currently the third largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. Ripple has been endorsed by major banks and financial institutions, and its price has grown steadily over the past year. If you’re thinking about investing in cryptocurrency, Ripple is a good option to consider.
Dash (DASH), first known as Xcoin and then Darkcoin, is an open-source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users, which are called “masternodes.” Masternodes govern dash and enable features like PrivateSend (instant send) and InstantX.
Monero is a digital currency that offers a high level of anonymity. Transactions are untraceable and private, making it a popular choice for those looking to keep their financial activity hidden. Monero is also ASIC resistant, meaning that it can’t be mined with specialised hardware. This makes it a more equal currency, as anyone with a regular computer can mine it.
Investing in cryptocurrency can be a wise decision if you do your research and invest conservatively at first. Ethereum Classic is one option that you may want to consider.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
These apps run on a blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The Winklevoss twins are major investors in Ethereum Classic and they feel confident that it will eventually surpass Bitcoin in value. Ethereum Classic has already seen significant growth in 2017 and 2018 and there is no reason to believe that this trend will not continue.
NEO is a cryptocurrency and blockchain platform that was founded in China in 2014. The NEO platform is built on a Delegated BFT consensus model and uses a unique Proof of Stake mechanism to achieve consensus. The NEO blockchain has many use cases, including the development of digital assets, smart contracts, and dApps. NEO also supports tokenization of traditional assets, which allows for the development of a digital economy.
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a global collective of expert engineers and researchers. The protocol is built in Haskell, a robust functional programming language that has a strong track record in academia for engineering large mission critical systems (with an emphasis on security).