Most Promising Altcoins 2020 – Biggest Potential to Skyrocket
Cryptocurrencies are entering another bear market with the start of the New Year. And while the benefits of investing in Bitcoin are quite obvious, there are other options if for diversifying your portfolio of crypto assets. The most promising altcoins 2020 has to offer are already making headlines. And attracting serious interest from investors and traders alike.
In a market that is notoriously volatile, some altcoins come on top as a safer investment. Altcoins that are secured by other assets, such as gold and fiat currencies or tied to major platforms and projects like Ethereum and IOTA, create some of the most promising investment options right now.
Spotting the Most Promising Altcoins 2020 Brings
When talking about the most promising altcoins 2020 has seen so far, there a few things to consider. We need to stress the importance of the market capitalization of an altcoin. It is always better to only consider big market cap altcoins for your portfolio. Big market cap altcoins offer stability and are more promising than other altcoins. In this selection, we have selected the most promising altcoins of 2020 with big market capitalization. These will give good returns as well as have the minimum investment risk. Let’s look at the best altcoins for 2020 with that will give good returns in the long run.
BAT
BAT or Basic Attention Token ($0.2348) was a first-mover in the digital advertising space. It changed the way people got rewarded for their time and participation. The team behind BAT created a decentralized ecosystem that unites users, publishers, and advertisers.
It is radically different than traditional ad networks as everyone gets equally relevant results and profits. For instance, users get paid for viewing ads and they only see the offers that match their interests. Publishers get a revenue percentage from each ad. And companies end up with higher ROI since users don’t use ad blockers but are happy to view relevant ads.
Younger generations like Millennials and Gen Z-ers are all about relevant content. They also enjoy monetizing their engagement and time, so it’s a matter of time before we see BAT ‘s model reach its full potential.
Highlights for BAT in 2020
- Privacy oriented coin which is becoming more and more important
- Reached 10 Million users just before the start of 2020
EOS
EOS is the native currency of the EOS blockchain. This blockchain facilitates scalable decentralized applications also known as Dapps. Since its launch, developers have gone wild for this new model and EOS has grown to be widely used globally. The platform includes a set of services and functions that work very similarly to the Ethereum platform.
Transactions on the EOS blockchain take half a second to confirm. And approximately two minutes to finalize due to its “delegated proof of stake” (DPoS) mechanism. They are also free to transfer since there are no mining fees involved.
But the strongest point of EOS comes from the resources that developers need in order to run their Dapps. It makes big promises (and manages to deliver) in terms of processing power, network bandwidth, and data storage. EOS is definitely one to consider as the market cap is much lower so the chance of profit is much higher.
Highlights for EOS in 2020:
- Wanchain cross-chain integration permitting
ETH
Vitalik Buterin launched the Ethereum blockchain in 2013. The new concept of smart contracts added a whole new layer to cryptocurrency, allowing DApps to be built. As a result, Ethereum became known as the Blockchain 2.0.
The value of ETH has grown not only because of the blockchain’s strong wireframe. The team behind Ethereum is very active and has well qualified and professional developers. The team and devs are always working to make the ETH network stronger and more scalable.
2020 will see the Ethereum coin swapping the Proof-of-Work (PoW) for a Proof-of-Stake (PoS) model. The latter is more scalable and energy-efficient. The upcoming ETH 2.0 is just as anticipated as the May halving of Bitcoin and one of the major crypto events in 2020.
After Bitcoin, Ethereum is the second most accepted and recognized cryptocurrency.
Highlights for ETH in 2020:
- Ethereum Classic Labs Commits $1 Million in Partnership With UNICEF Innovation Fund to Promote Blockchain-Based Social Impact Solutions
VET
VeChain is a Blockchain-as-a-service company that remade the supply chain. By mixing the blockchain and smart chip technologies, users and suppliers can track items throughout their entire lifecycle. The project has been in operation for two years and attracted the interest of a number of companies.
VET positioned itself as a distributed and trust-free business ecosystem for businesses. The transparent flow of information, high-speed transfer of value and efficient collaboration brought immediate benefits to the supply chain. While VET is yet to go mainstream, it is already improving logistics and supply chain systems via simplified product tracking.
The team behind the project announced several partnerships with household names like DNV GL and PwC. In addition to that, the Chinese government chose VeChain as the blockchain technology partner for the government of Gui’an. When integrated with IoT, VeChain can do wonders in quality control for many industries.
Highlights for VET in 2020:
- VeChain and Blue Bite are partnering to offer a best-in-class solution, combining the power of blockchain and context-based mobile content.
- Reebonz Luxury Goods Platform Adopts VeChain (VET)
IOTA
The next generation of distributed ledger technology or IOTA s launched in 2015. It goes ‘beyond blockchain’ through a symbiosis of crypto and IoT with its core invention of the blockless and quantum-resistant ‘Tangle’. The digital currency ‘iota‘ has a fixed money supply with zero inflationary cost.
IOTA focuses on bringing utility to the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications that can benefit from a scalable decentralized system.
On top of that, IOTA offers zero-fee transactions & no scaling limitations on the number of transactions per second. Unlike Bitcoins blockchain, IOTA doesn’t differentiate between users and validators (miners / stakers). Instead, it avoids centralization by making validation an intrinsic property of using the ledger.
Thanks to several strategic partnerships and strong architecture, IOTA saw a big rally in prices and market cap. The concept and the team make a good combo and IOTA certainly holds a lot of potential in the future.
Highlights for IOTA in 2020:
- IOTA partners with Jaguar Land Rover to use a smart wallet that will reward Jaguar car drivers with IOTAtokens.
- IBM to use IOTA tokens for task scheduling system of IoT devices
XMR
Monero (XMR) is one of the better-known altcoins. Crypto enthusiasts often call it the anonymous Bitcoin. After it became apparent that Bitcoin is not truly anonymous, XMR gained popularity as a viable alternative.
For users who want true anonymity, Monero offers an elegant mixing solution built-in. It achieves this by mixing altcoins with other altcoins. This makes Monero (XMR) suitable for any purchase on the black market and the adoption gives XMR a boost.
The Monero team relies entirely on donations and the broader community to further development. Since its launch in 2014, Monero attracted a lot of interest from the crypto community and its price rose exponentially.
As an open-source, privacy-oriented cryptocurrency, Monero is one of the most promising altcoins 2020 has to offer.
Highlights for XMR in 2020:
- Upcoming hard fork.
How to Select the Most Promising Altcoins in 2020
There are hundreds of altcoins, and more appear every day. A lot of the altcoins are simple Bitcoin clones (they even rely on forking the Bitcoin blockchain) and they do not survive for very long. They rely on minor changes to the features of Bitcoin, such as its hashing algorithm, distribution method, or transaction speed. Others withstand the test of time and the crypto market like Litecoin, Ripple, Holochain, and Waves, to name a few. Each of these altcoins is also worth looking into as they use a different hashing algorithm than Bitcoin, and typically have a much higher number of currency units.
As Bitcoin’s price continues to rise and it is moving out of the reach of the typical investor, altcoins are offering an affordable entry into the booming crypto market As such, altcoins play a significant role. They allow developers to experiment with unique features, acting as a sort of “cryptocurrency laboratories” that work better than Bitcoin’s testnet.
But, above all, altcoins allow investors to safely diversify their portfolio. The most promising altcoins 2020 has seen an increase in value will give your portfolio stability to face any type of market. Remember you don’t necessarily need to invest all your capital in one particular altcoin. It is always better to play it smart and spread it out over several of them. This will help you stay safe in the event of sudden price movements and market fluctuations. After all, the whole point of investing in altcoins is to avoid the high volatility of Bitcoin, so be sure to take calculate risks and make informed decisions.
This is the authors opinions and not Exchangeratings, make sure to always make your own research.
