Last year was an explosive rollercoaster ride in the world of digital money. The most famous of all crypto currencies, the Bitcoin (BTC), started the year with a lax 3,800 US dollars and started a breathtaking rally – already in the middle of the year the exchange rate shot up to 8,000 US dollars for the first time and experienced its peak in mid-July at around 12,ooo US dollars. From August onwards, crypto fans unfortunately had to take bumpy roads and the cryptocurrency jumped back and forth between 9,000 and even 6,000 US dollars. Of course, the number one on the crypto market also pulled the other coins along and they experienced similar ups and downs – a look into the past reveals: After a low, a new all-time high can come very quickly. So let’s take a look at the best of cryptocurrencies in 2020 and their potential.
Bitcoin: The undisputed number one
bitcoin logo fontFriends of the more inconspicuous Coins could of course now cry out and join the movement “The Bitcoin has been sucked out”, but one must not forget that the most famous of all crypto currencies has been on the pole position of the coin charts for many years and no other currency has ever had such a high market capitalization. Therefore, Bitcoin will clearly continue to be one of the best crypto currencies in 2020! Furthermore, it has to be said about Bitcoin (BTC) that the coin has paved the way for many more. The most important characteristic of Bitcoin is its decentralization. The Bitcoin network is not subject to any institutional control. This means that no central bank or state can control the money supply and set the framework conditions – the network controls itself. The entire cosmos surrounding digital money has developed on this basis. So: As a pioneer in the field of cryptography, Bitcoin must not be ignored under any circumstances.
IOTA: A step towards the future
iota logo fontOne of the most exciting crypto currencies of 2020 is an absolute technology cousin: IOTA. If you are now frowning and wondering how a coin can end up at number 20 on the chart of the best crypto currencies 2020, the answer is: the mess is to blame! All crypto fans should understand what is meant – namely the tangle, the heart of IOTA. And this technology is promising: After first contacts with the automobile industry giant VW, other real-life adaptations have also opted for IOTA – recently the hyperledger technology is to be coupled with the tangle.
This will ensure free transactions in the supply chain. The advantages are more than promising: The Tangle consists of many strands connecting nodes and each of these points represents a transaction. So the whole tangle consists only of transactions. Unlike the block chain, each transaction is verified by two previous transactions, so verification takes place in the network itself. Extensive mining is therefore not necessary. A real use case that has already made several companies sit up and take notice: IOTA is not about to get lost in the confusion, but benefits from its individuality. You should have IOTA on your screen in 2020 as one of the best coins!
Ripple: The gold treasure for business
ripple logo fontWhile many crypto-currencies are more intended for the end user, Ripple has made it its mission to be a digital currency for companies on an international scale. That’s why a coin that is designed for business should be one of the best crypto currencies for 2020. The solution is to create a common standard for payments and use XRP as a digital asset. Ripple is the only digital asset designed explicitly for financial institutions and payment providers. The Internet of value creation plays a major role: the transfer of values for companies is the main focus of Ripple (XRP). This makes it one of the few digital assets with a real use case.
Litecoin: The Hidden Champion
litecoin logo fontAlthough Litecoin’s courses do not always look promising, the crypto currency is the hidden champion among digital money. Why? It’s simple: when you buy Litecoin, a quick transaction is waiting for you, you have improved storage efficiency and can send payments that are almost free. The peer-to-peer Internet currency can be transferred in real time and therefore naturally enjoys great popularity in real life: With extensive support in trade and commerce, as well as a considerable trading volume and liquidity, Litecoin is a proven addition to the well-known Bitcoin. Due to its versatility, the matador among the coins is one of the best crypto currencies in 2020!
Binance Coin: Crypto Exchange Coin takes off
binance review header logoThe coin of the crypto trading platform Binance was created through an initial coin offering: Binance Coin (NBB) runs on the Ethereum block chain and follows the ERC20 token standard. Originally intended to finance the Binance exchange with great features for users, Binance Coin has turned out to be a real starter in 2020. This may be due in part to the great extras that digital money has in store for investors:
- The payment of trading fees on the Binance Exchange and the equivalent of a 50% discount on trades (during the first year)
- Transaction solution provider Monaco has added support for BNB tokens to its platform, which includes the Monaco Visa Card and mobile app
- The Uplive live streaming video platform supports NBB in buying virtual gifts
EOS: The Greek Goddess
eos logo fontThe name of the crypto currency is not for nothing similar to that of the goddess of dawn. EOS not only has space on its block chain for its own currency tokens, but also forms the basis for other currencies by means of attached Smart Contracts. Among insiders, digital money is therefore known as the ‘block-chain operating system’ – unlike Ethereum, EOS not only offers Smart Contracts, but can also carry out transactions. Because of its versatility, the crypto-currency EOS is clearly one of the most dazzling cryptoassets for the year 2020.
Tether: On the summit of the mountain
tether logo Tether and Teatime have something in common: sometimes you have to be quite patient, especially if you want to make it under one of the best crypto assets in 2020! But Tether is already on top of the mountain by the end of this year and surprises with great features: the crypto currency is a re-regulated token issued by the company Tether Limited. Tether is traded as a so-called stablecoin 1:1 to the US dollar. Also – or maybe just because Tether is one of the most controversial and most discussed crypto currencies in the financial world, it is one of the best crypto currencies in our ranking! Because: attention often drives the exchange rate upwards. Here you can see the advantages of the Tether Network:
- Seamless transition: It facilitates the transfer of real fiat money into digital currencies
- Secure transaction: The use of established block chains such as Bitcoin and Ethereum offers the user the necessary security for payment transactions
- Efficient and inexpensive: Fast transactions with low fees
- Widespread: Many major exchange platforms allow trading with USDT
Even though there is often discussion whether a Stablecoin really corresponds to the basic idea of an independent, decentralized crypto currency, one cannot deny that Tether, with its innumerable benefits, comes close to the idea of an ideal token! Therefore Tether makes it among the best crypto currencies in 2020.
Stellar Lumens: Light at the end of the tunnel
You will already notice – 2020 will be the year of crypto adaptations. Therefore, a coin, or let’s say network, is of course not to be missed among the best coins 2020: Stellar Lumens (XLM)! Stellar Lumens (XLM) is a crypto-currency project that serves as an intermediary for financial transactions: The Stellar Network acts as an independent entity between different currencies. As an intermediary for financial transactions, it aims to provide translation from one currency to another. The network as a trading place: So if someone wants to exchange, say, euros for US dollars at a certain rate, they can post a corresponding offer on the network. This is then stored there until a corresponding counterpart is found and exchanges the money.
True to the motto “No Borders, no Nation”, Stellar Lumens uses block chain technology and its own crypto-currency XLM to cross political and geographical borders in the monetary system. In short, Stellar is about financial inclusion in the broadest sense, connecting everyone to the international monetary system. Stellar thus forms the Internet of money and holds the philosophy of crypto-currencies: Decentralization! It is not for nothing that XLM is among the best of crypto-currencies.
Libra: On the radar
Not yet launched, but still in our sights! Last year, we couldn’t get around those crypto currencies: Libra. Everyone was talking about the Facebook project – and the excitement was great. Of course Libra contradicts the basic idea of digital money immensely, because there is a billion-dollar company behind it and the opponents of centralisation have loudly protested against it.
Nevertheless, one cannot close one’s eyes to the extent that the launch of the Facebook coin would bring with it: Billions of users would have immediate access to Libra and the distribution of crypto-currencies would soar – which would of course also bring the BOOM for further digital assets. Therefore, it is definitely worthwhile to have the Zuckerberg currency on your screen as one of the best crypto currencies and to continue to observe the development in 2020!