What is cryptocurrency?
What is Cryptocurrency- Cryptocurrency is a digital currency or electronic money that uses cryptography to secure online transactions while not being controlled by any central authority. The decentralized nature of blockchain makes on line transactions (through public or private keys) very easy, fast and cheap.
Key Properties of Every Cryptocurrency:
Digital: Electronic form of money
Controlled Supply: Limited supply of tokens
Decentralized: Not controlled by any central authority
Global: Any one can sent cryptocurrencies to anywhere in the world
Peer-to-Peer: Transaction happens from person to person online
What is Bitcoin?
Bitcoin is world first cryptocurrency which was created back in 2009 by satoshi Nakamoto. Since the creation of Bitcoin more than 6,500 altcoins have been brought into the crypto market. Today Bitcoin price is $9,700 while it was around $2 in 2012. In Jan, 2020 Bitcoin price spiked to $20,000 and set it’s all time high price target.
List of Most Common Cryptocurrencies:
Bitcoin- World first cryptocurrency
Ethereum- Global open source platform for decentralized applications
Tether- Most traded stable coin by marketcap
Ripple- The best digital asset for global payments
Litecoin- Send almost zero cost payments to anyone in the world
Cardano- Public blockchain that is fully open source
Binance Coin-Binance exchange native token
ChainLink- Connects smart-contracts to real world data, events and payments
Neo- Chinese Ethereum
Tezos- Open source platform for assets and backed by global community of validators
Related: Why Telcoin will be big player in Remittance Market like Western Union? How people will be able to send secure, fast and low cost (2% fee while western union charging 7% fee). Telcoin is the best investment right now if you want to generate more than 1000% profit.
What is the Future of Cryptocurrencies?
If you are worried about the future of cryptocurrencies than you should calm down yourself as crypto market and blockchain technology is here to stay. Blockchain technology will be used almost everywhere in the world in future. Most of the wealth in the world is generated by being an early investing in the innovation so my suggestion is that you should not stay back. Put yourself at ease and invest in some good blockchain projects as I am sure they will reward you financially.
To generate or gain profit cryptocurrency trading has become a big global business. Total crypto market volume has grown to $269B and $73B has traded today globally.
There are more than 6000 plus cryptocurrencies in the crypto market right now and you can trade them on different famous exchanges like Binance, Kucoin, BitMax, Houbi Pro, WazirX, CoinDCX and may more. Overall crypto trading is very exciting stuff but do not try it until you are an experienced trader otherwise you can get rekt by whales.
If you are new to crypto market I would suggest you buy some good coins and hold them for long term I am sure you will be rewarded.
Best Cryptocurrencies to Invest In 2020:
Here is the list of best cryptocurrencies to invest in for huge gains.
Ethereum: Marketcap $26B and Price is $240
Binance Coin: Marketcap $2.6B and price is $17
Chainlink: Marketcap $1.5B and price is $4.25
Vechain: Marketcap $389M and price is $0.0070
Theta: Marketcap $223M and price is $0.25
Enjin Coin: Marketcap $158M and price is $0.19
Quant: Marketcap $91M and price is $7.50
Kucoin Shares: Marketcap $78M and price is $0.96
0Chain: Marketcap $4.3M and price is $0.107
iExce RLC: Marketcap $42M and price is $0.52
Tomochain: Marketcap $30M and price is $0.40
DigitalBits: Marketcap $5.3M and price is $0.015
Telcoin: Marketcap $14M and price is $0.0003
xDai Stake: Marketcap $3.2M and price is $1.92
ChainX: Marketcap $0.93M and price is $1.25
Morpheous Labs: Marketcap $6M and price is $0.0130
Varasity: Marketcap $1.7M and price is $0.00047
Ferrum Network: Marketcap $2.8M and price is $0.026
Utrust (UTK): Marketcap $12M and price is $0.028
Voyager Token: Marketcap $11.5M and price is $0.051
What is the Best Cryptocurrency to Invest in Right Now?
Ethereum: ETH is the hottest pick right now from large marketcap projects. If you are a long-term investor you should buy ETH and wait for 2–4 years. ETH can go crazy and can trade above $3,000 to $5,000. Ethereum v.2 is about to launch in 2020 where users will be able to stake ETH to earn almost 14% APR.
Tomochain: TOMO is most efficient blockchain for token economy. Tomochain is a mid marketcap project but they have developed a whole ecosystem like Ethereum and their platform is way faster and cheaper than Ethereum. Also, Tomochain is in long accumulation period from the last 2 years and hopefully it will provide more than 5x-10x profit if you can hold it for long term.
ChainX: You should buy this micro-cap project for long term hold. They are working on layer two system on polka dot network and this very huge for such a low marketcap project. Also, you can stake your PCX on Hotbit Exchange to get staking reward of 75%-105% APR (Annual Percentage Rate).
Similarly, you should buy Morpheous Labs, xDai Stake and Ferrum Network projects. These are very low marketcap projects and have potential to generate more than 10x profits.