{[{item.pair.split("_")[0]}]} ${[{item.price.toFixed(4)}]}

{[{item.change24}]}%

{[{item.change24}]}%

The Best Cryptos For Trading in 2020

news_img

June 9, 2020 | 

JOHN K MWANIKI |  0 Comments| 

1641 Views

Share:

Get Into Cryptocurrency Trading Today

After an earlier season of pessimism in cryptocurrencies, it has come to a point when the coins are steadily becoming part of the mainstream economy. Most people are relying on the stability of the coins to adopt the cryptocurrencies. Like the other fiat currencies, cryptocurrencies have become a significant trading hit. After acceptance, most people are looking to take the ease of making returns.

Before you trade on the coins, you need proper information to make an informed decision. Follow this article to help you with the best cryptos for trading in 2020.

Best cryptos for trading

  1. Bitcoin

The best time to trade in Bitcoin was a few years back; the second-best time is today. That sounds like a possible introduction to a stage film. Well, it is not. It is the real state of the most successful cryptocurrency in the world.

Forget all the predictions on Bitcoin you have heard before. The coin is still as valuable and will remain so for some time. One of the reasons for the continued value of the currency is that it is scarce yet beneficial. Most industries have already accepted it as a medium of exchange, and many more will remain on that line.

  1. Ethereum

Since its inception in 2016, Ethereum has continually grown to find its holding as one of the most advanced technological cryptos for trading. With backing from most top 500 Fortune companies, the currency still maintains its string as a leading cryptocurrency.

So far, 2020 has had mixed bargains for the currency. Starting trading at $130 per coin, it swiftly hit the $279 mark with prospects of several developers adopting the Ethereum network. It has also had its lows with the effects of Covid-19 taking a toll. Otherwise, the coin has maintained a relatively stable value of slightly over $200 by mid-year. These prices are likely to increase, with most financial institutions accepting the coin as the medium of exchange.

Even though there is the possibility of mining Ethereum, trading it over the several forex platforms comes with several advantages like the stability. Most forex platforms like the stability hence the option in virtually any platform that deals in cryptocurrencies.

The other reason to trade in Ethereum in 2020 is that no one can turn it off, secure against fraud, and cannot be censored.

  1. USDT - Tether

Anyone interested in cryptocurrency trading already understands that volatility is one of the main concerns regarding the market. Now imagine a cryptocoin which is stable against the fiat. That is what Tether offers. Matched against the US dollar at a ratio of 1:1, the coin provides stability for trading. The pegging of the coin to the US dollar has made it an essential link between the fiat currency and the crypto.

With all the economic turmoil from the widespread Covid-19, stability has never been so important when trading. You are better off trading in Tether, and it comes with the needed security. It is also widespread, as most trading platforms use it. It is currently the third-largest traded coin with over $2billion available in the market. Tether also comes with high-level transparency that makes it relatively secure.

The only concern that comes with trading in Tether is the negative press the company has received in recent years. Several outlets have accused the company of lacking the needed reserves and value manipulation. Even though these might impact its value, the coin is hugely important to the market and is for now quite stable.

  1. Litecoin

Litecoin is another cryptocurrency for the traders in 2020 to consider. Gaining traction in 2019, the coin grew as much as 263 percent over the years, stabilizing later on in the year. Although the nature of crypto trading is such that you cannot rely on past performance to indicate future gains, Litecoin seems to be stable enough by now.

Starting the year at the value of around $41, the coin has experienced considerable growth in the market. The other indication for the growth of the currency is the possibility of the rise of the other coins. Earlier signs show that ultimately the coin might reach the elusive $100 mark within the year.

That is not to say the coin does not have its possible downsides. Some of the market analysts believe the coin might never be as high as it ever was in 2019. You don't have to worry, though, as long as the coins' transaction speeds remain high and mining becomes more comfortable, your investment is secure. The currency is also an excellent long-term investment with forecasts predicting values of around $150 -160 per coin by 2025.

  1. Bitcoin cash

No other coin has benefited from the improvement of the Bitcoin than bitcoin cash. It is more like every good improvement on Bitcoin trickles down to it. Currently trading at over $250, the coin provides a safe investment option if you are looking for returns.

Some of the world’s top analysts have given Bitcoin Cash a clean bill of health into the coming years. WalletInvestor Bitcoin cash price prediction claims the value of Bitcoin will ultimately hit $819 in the future, with $362 the optimum in 2020.  DigitalCoinPrice has given it the possibility of hitting $941 in the long run, with $434 by the end of 2025. 

While there are definite indications of growth, some analysts have also predicted doom. Longforecast Bitcoin shows that the coin is likely to close the year at $148. The value will, in turn, steadily go down, reaching the lowest of $43 though it shows a recovery peaking at $245 by 2024. 

Whatever the case, the growth of Bitcoin seems to be on the offing. With the company performing system upgrades every six months, users' trust in the coin keeps soring. The currency also comes with low transaction fees and stability that makes it a great trading option.

  1. Ripple

With the high value of the cryptocurrencies, you might be wondering if you stand a chance when you don't have big money. Well, hold it, Ripple is here for you. Starting trading at 50 cents, the coin offers a great platform in 2020 for those looking to launch crypto trading on the low. 

Started with the main aim of easing transactions, trading on Ripple is such a smart money move. With most financial institutions adopting the coin, its value has been steadily rising over the years. Most traders also trust the currency, making it more like a sure bet. Currently selling at 0.1997, the coin embraces high-end technology and inventions for market traction.

Before you get into the fold, there are a few concerns you need to know. The primary concern is the possible security vulnerabilities. Like any other coin, the volatility of the currency has been an issue for long term investors. Some financial institutions are yet to embrace the coin due to the uncertainty of the future value. Trading in this coin calls for constant monitoring. You also need a sound investing strategy, preferably short-term.

  1. EOS

As one of the fiercest competitions to Ethereum, EOS has continually grown in the market share to become a crypto powerhouse. With a massive scalability and blockchain system application, EOS is an ideal investment if you are looking for stability. With as low as $100, you can quickly start trading in the coin.

  1. Tron

Anyone who understands the world of the internet knows of how limitless the opportunities it offers. Led by one of the media gurus in the world, Tron is looking to change the world of entertainment. You can be part of that by trading in the coin—Tron as becoming one of the industry leaders through constant inventions and vibrant partnerships.

One of the partnerships that look to shape the future of Tron in 2020 is with Samsung. The mobile phone giant blockchain is looking to make use of faster and secure Tron systems. With more people looking to access apps and games more affordably, the currency is headed for suitable trading ahead. The coin also seeks to make it big with China's growing influence on the crypto market.

Before investing in this coin, though, you have to stay aware of the possible pitfalls. Most of the quarters have the currency of employing corrupt antics to seek attention. Even though it has not dampened their fortunes yet, it might not resonate well with other investors. Generally, the coin still has some work to do to gain mainstream acceptance.

Factors to Consider When Choosing a Cryptocurrency to Trade

Now that you know the top 8 cryptocurrencies to trade in, you must understand how to choose the ultimate one. That is not to take it away from any currency. While all are great investment opportunities, you won't manage them all at once.

The factors to consider include;

  1. Market Capitalization

Like any other investment, security runs deep when it comes to trading cryptocurrency. While there are thousands of cryptocurrencies around, not all have the assured returns. The sector has been hampered by news of developers swindling investors.

To avoid losing your hard-earned money, look into the established coins that come with the market value. These currencies tend to have in-depth information from investments and risks.

High capitalization signifies more market traction. These coins are less susceptible to manipulation and other fraud.

  1. Exchange Rates

Investing in cryptocurrency involves exchanging your money from fiat currency to crypto from time to time. Invest in a coin that comes with lower exchange rates. You don't want to make a lot of money to spend most of it on the exchange.

The other factor to consider when looking for cryptos for trading is the acceptability among the financial institutions. Most banks are not willing to accept highly volatile coins. Invest in one that comes with widespread acceptance, so you don't have to struggle or incur more costs to exchange.

  1. Validity

No matter how much you want to trade in a coin, you can only do it when it is available in your country. Even though most coins are available the world over, some are not accessible in some regions. Take time to understand all the provisions on access and other terms and conditions.

Some of the widely accepted digital assets are Bitcoin, Ethereum, and Litecoin. For safety, look for the FAQs page or contact the support. Confirm if the coin accepts your local fiat currency, and you can deposit from your country.

  1. Reputation

Cryptocurrencies are a new phenomenon, and you might need to be extra careful about where you put your money. Even though most of the coins are promising safety in trading, they are highly susceptible to fraud and other irregularities. Some of the coins like Ripple have been hacked before leading to losses of millions. Even though they made the lost coins unusable, you have to be careful when investing.

Take time to research and do your due diligence before settling on the currency. Look for the possibility of scams and other security breaches. Also, keep safe by not keeping your money on the exchange for long.

  1. Security

Security is the other principal feature when it comes to trading in a cryptocurrency. Look for cryptos for trading that provide high-end security features. The currency should provide for Multi-factor authentication, SSL security certificate, and cold storage wallets.

Bottom Line

The advancement of technology has seen an increase in the uptake of cryptocurrency trading in recent times. While most investors had earlier been pessimist when it comes to investing in cryptocurrency, the continual rise in value has seen most explore the path. Other business entities accepting cryptocurrency as a medium of exchange have also benefited from trading.

While a little different from the regular trading, when investing in cryptocurrency, look for security, reputation, and exchange rates.

Buy & Sell Cryptocurrency Instantly

Share:

COMMENTS

0 Comments

Like this article

CREATE ACCOUNT

LIVE RATES

All COINS

TRENDING

Market Cap {[{ marketcap }]}

Symbol

Price

Change

Chart

Trade

{[{ item.pair.split('_')[0] }]}

${[{ item.price }]}

{[{ item.change24 }]}

{[{ item.change24 }]}

TRADE

Showing {[{ showing }]}

Market Cap {[{ marketcap }]}

Symbol

Price

Change

Chart

Trade

{[{ item.pair.split('_')[0] }]}

${[{ item.price }]}

{[{ item.change24 }]}

{[{ item.change24 }]}

TRADE

Showing {[{ showing_trend }]}

WHAT'S NEW

NEWS

REVIEWS

BROKERS

WALLET