6 Cryptocurrencies To Buy For 2020 And Beyondk
The year 2020 is already shaping up to be a pivotal year in the history of Bitcoin, culminating in the third Halving in its history, scheduled for May. This event will be combined with economic and political events to create the perfect conditions for a very strong increase in the price of Bitcoin during the year.
You probably know that, but I’ll remind you anyway: the cryptocurrency market is indexed to Bitcoin. Thus, if the price of Bitcoin increases sharply during 2020, the entire cryptocurrency market will increase. However, not all cryptocurrencies will see their prices increase in the same way.
The challenge is to predict which cryptocurrencies are promised the most attractive price increases in 2020. In what follows, I try my luck by presenting you the 6 cryptocurrencies to buy for 2020 and beyond.
1. Bitcoin (BTC)
To begin with, I’m not going to be original but rather efficient. The first cryptocurrency I recommend you buy for 2020 is simply Bitcoin. 2019 was an excellent year for Bitcoin with a performance of +100% so far.
Bitcoin’s dominance in the cryptocurrency market has once again surpassed 65%.
Some say the technologically outdated Bitcoin but it has never been so strong. Block after block, Bitcoin continues to advance and will continue to do so in 2020. The Halving expected in May 2020 as well as unstable political and economic conditions should enable Bitcoin to return to the peaks reached at the end of 2017.
If you want to make a profit with cryptocurrencies in 2020, you must absolutely buy Bitcoins. The current price of $7,400 will probably be seen as very cheap in a few months.
2. Basic Attention Token (BAT)
Adoption by publishers is increasing and Basic Attention Token can be used to reward content publishers on platforms such as YouTube, Twitter, Twitch or Reddit. More than 300,000 editors are currently verified by Basic Attention Token.
The adoption of the innovative model promoted by Basic Attention Token continues to progress and the notion of an open Web at the heart of the project is becoming increasingly popular.
The release of Brave Browser 1.0 in October 2019 reinforces the Basic Attention Token project with the release of the Brave Rewards program, which supports an open Web, on iOS. iPhone and iPad users will now be able to benefit from it.
Basic Attention Token is clearly the most promising cryptocurrency for 2020. It addresses a real problem, namely the creation of an innovative advertising model that really takes into account the privacy of users.
Basic Attention Token is also one of the cryptocurrencies in the Top 50 with the most users. Besides, the price of BAT is still quite modest. Buying BATs seems to me to be an excellent investment for 2020 and it will allow you to participate in the emergence of a new model for the Web as well.
3. Enjin Coin (ENJ)
The Blockchain is a revolution that will impact many sectors in the coming years. Nevertheless, some sectors will be impacted before others.
Among the sectors that will be strongly impacted by massive adoption of Blockchain technology is the gaming industry.
Gamers are used to spending a lot of time online when they play. In most of the games they play, they are used to buying virtual items of any kind. The idea of tokenizing the economy seems natural to them. In addition, they are curious by nature, which will encourage them to test cryptocurrency projects that are part of their game world.
Cryptocurrencies targeting the gaming industry therefore have great potential since they are in a fast-growing market that already represents more than $150 billion in revenues in 2019 worldwide and could exceed $180 billion by 2021, according to some studies.
With its platform, Enjin is simply the leader cryptocurrency in Blockchain gaming. Enjin is the largest online gaming community. In 2019, Enjin signed several important partnerships to strengthen its position.
Enjin has signed a partnership agreement with Samsung that is the world’s leading smartphone manufacturer. This partnership aimed to distribute the Enjin Coin wallet directly to the South Korean giant’s Galaxy S10/S10+ smartphones which Samsung has already sold more than 20 million units in 2019.
In early December 2019, Microsoft, that is undoubtedly one of the largest technology companies in the world, also announced the signing of a partnership with Enjin for its new Azure Heroes digital awards system.
Other partnerships are expected to follow in 2020 and Enjin Coin is therefore an excellent opportunity while the token still occupies only 73rd place in the ranking of the most capitalized cryptocurrencies with a capitalization of $57 million. An entry into the Top 50 is expected in 2020.
4. Binance Coin (BNB)
Binance Coin is the cryptocurrency of the Binance trading platform. Created to facilitate trading on the Binance platform, BNB was very successful in 2018 as one of the most efficient cryptocurrencies. The year 2019 only confirmed this trend and as we approach mid-December 2019, BNB is simply the most successful cryptocurrency of the year.
Binance’s ambitions are limitless and the Changpeng Zhao company can clearly afford it.
Indeed, Binance is a heavyweight in the cryptocurrency world. The platform is one of the largest in the world in terms of volumes traded. Binance recorded more than $500 million in annual profits last year. At the end of the summer of 2019, Binance also added a lending service to its offer in order to attract deposits from its customers.
This is enough to further strengthen its Binance Coin cryptocurrency, which still promises to be one of the most performing in 2020.
5. Nexo (NEXO)
Nexo is an instant credit line platform in cryptocurrency. You deposit your assets in cryptocurrencies within your Nexo account. The assets deposited on Nexo are secured by the custodian BitGo, which is an SEC-approved institution.
Once these assets are deposited, you instantly have a line of credit in fiat currency at your disposal without the need for any verification. The whole process is automated with Nexo. You can then spend this line of credit as you wish via the use of a card or via a withdrawal to your bank account.
Nexo allows you to make repayments at any time while the interest is debited from your available limit. Finally, there is no minimum repayments and no hidden fees.
2019 was an excellent year for Nexo, which reached $700 million in loans to more than 200,000 users.
Nexo is available in more than 250 jurisdictions and supports more than 45 fiat currencies. Its user base is expected to continue to grow strongly in 2020. In addition, Nexo is one of the few cryptocurrency projects that is currently making real money.
Nexo is a truly profitable company that has already accumulated more than 60 million euros in 2019.
Its market capitalization is $54 million while the NEXO token is absent from major exchanges such as Binance or Coinbase.
Nexo’s solid fundamentals and a possible arrival on one of these exchanges in 2020 could allow Nexo to enter the Top 50 of the most capitalized cryptocurrencies.
6. Ethereum (ETH)
Ethereum is already a heavyweight in the cryptocurrency world. Behind the untouchabl Bitcoin, Ethereum is the most widely known cryptocurrency of the general public. Ethereum is the leader of the second generation of Blockchain, the one offering smart contracts and dApps.
Not many people know this, but Ethereum has more users on its Blockchain than Bitcoin.
Indeed, many of the most capitalized cryptocurrencies rely on the Blockchain Ethereum to operate. This is particularly the case with Basic Attention Token or Enjin, which I mentioned in this article. This is also the case for most of the cryptocurrencies in the decentralized finance sector (DeFi), headed by Maker.
Finally, Vitalik Buterin and the Ethereum development team have begun the long work of migrating the Ethereum network to Ethereum 2.0, which should enable the platform to move towards a sustainable technological platform for its future.
The transition to Ethereum 2.0 will only be fully effective from 2021 at best, but it will include the transition to Proof-of-Stake instead of the Proof-of-Work mechanism, the deployment of Sharding and the new eWasm virtual machine.
If this switch succeeds, Ethereum will rely on a much more scalable platform that could why not take the lead over Bitcoin in the future.
In 2020, the respect of the milestones set in the roadmap leading to Ethereum 2.0 could strongly boost the price of Ether.
Bitcoin should have an excellent year 2020. As the cryptocurrency market is indexed to Bitcoin, it should follow this trend, which should be bullish. Interesting opportunities are to be seized. The whole game is to buy the right cryptocurrencies to maximize your chances of profits.
By betting on Bitcoin and the 5 other cryptocurrencies I have just presented to you, you will be betting on cryptocurrencies with solid fundamentals and strong user bases. It is then up to you to choose the share of each of these cryptocurrencies within your portfolio in order to maximize its value in 2020.