Top 7 Cheap Currencies to Invest in 2020
The cryptocurrency market continues to develop at a rapid pace, and 2020 is going to be one of the most exciting years for those who want to increase their capital. The epidemic of coronavirus suppressed the activity on financial markets. However, it is a perfect time to consider future rapid growth and find out cheap currencies to invest in 2020.
Cryptocurrencies are still one of the fastest (albeit the riskiest) ways to earn money really fast. This market is incredibly volatile, and individual coins can grow manifold during one day or week. The only question is — what is the best crypto to invest in?
We expect to see several key trends in 2020 that should set the tone for further market development. The main and most famous of them is, of course, the bitcoin halving, which is due to happen in May. Historically, halving occurs every four years, and each time this event was accompanied by an increase in interest in bitcoin and, accordingly, the price of it.
However, the primary cryptocurrency of our time and the changes that occur with it should not prevent an experienced crypto investor from seeing other promising options for investing. Yes, bitcoin is the most stable and reliable cryptocurrency — as far as it is possible for cryptocurrencies at all. Still, numerous altcoins can bring just as much to the discerning trader — many of them have prospects to grow several times this year, and, at the same time, the purchase will be cheap.
These options are the main topic of this article — top cheap cryptocurrencies to invest and the best growth prospects in the market in 2020.
Ripple (XRP) was originally developed for interactions within the banking sector. Ripple Labs Inc, the company that developed this cryptocurrency, preoccupied itself with establishing partnerships with a large number of financial enterprises, including Westpac and BBVA.
The first iteration of this cryptocurrency has initially been a protocol that allowed direct cash payments from one member of the Internet community to another. This protocol (it was called RipplePay back then) was used as the basis for the platform back in 2005 and facilitated the payment process for the enterprises.
The basis of XRP is the use of so-called “gateways”: combining individual blockchains into a kind of global registry. These “gateways” are subsequently used by all involved parties to gain access to the network. All this makes up the so-called RippleNet network, an organization of banks and payment systems that use Ripple’s technical principles in transactions.
Ripple is on our list because at the moment this cryptocurrency is simultaneously on the decline and, at the same time, is actively developing. At the time of writing, the cost of XRP was only $ 0.19, while not that long ago, the creators of this currency attracted such companies as UAE Exchange and Western Union as partners. In addition, many analysts believe that Ripple has a chance to oust SWIFT from the market and occupy its niche. All this makes XRP one of the most attractive options for investing in 2020.
The Tron cryptocurrency, also known as TRX, got everyone’s attention in 2018. An active advertising campaign and ICO contributed a lot to this popularity. Many famous people are among the organizers of this project, including Justin Sun, one of the proxies of Alibaba’s Jack Ma.
The Tron company (TRX cryptocurrency was originally created on its basis) was engaged in providing global access to entertainment content: streaming, gambling, and other activities. Cryptocurrency itself is actively involved in these processes, and as a result, it creates a whole ecosystem. A huge role in Tron’s growth rate this year belongs to the factors that directly affect its cost, including the functionality for storing and distributing content.
Most analysts agree that Tron expects steady growth in 2020. The forecasts for the final growth point vary from $1.5 to $ 47. The growth also depends on whether the project developers succeed in concluding several important agreements. In addition, the management plans to sign a cooperation agreement with Liverpool FC, which will influence public opinion on the project.
Cardano (ADA) is one of the best crypto to invest at the moment, and 2020 promises a lot of interesting things to it. The development of the project becomes more and more intense, and investors turn their attention to future opportunities offered by Cardano.
Cardano was originally created as a functional and highly secure platform for verifiable smart contracts. The author of the idea, Charles Hoskinson, once was a member of the team that developed Ethereum and left it in 2014 for his own project.
Created by developers in the first wave, ADA cryptocurrency in the Cardano project plays the role of its own digital settlement tool. Later, a new level was superimposed on this basis, allowing working with the conclusion of smart contracts within the framework of the platform.
The project team is currently focused on improving the quality of services provided to users. It is to introduce a democratic management system, which should positively affect the pace of progress.
The creators of Cardano state that the scientific approach always comes first during the drawing up phase for development plans. Each decision under consideration, each technical innovation is necessarily discussed with leading specialists from universities in Scotland, Greece, and the USA. This allows developers to optimize the time and increase the overall performance.
If we bring up the prospects of ADA for this year, most analysts agree that it is likely to be positive for the cryptocurrency. A lot depends on whether the Cardano team succeeds in attracting large investors to the project. Another important indicator is the ability (or inability) of this cryptocurrency to regain its price near $1 per token.
This altcoin appeared relatively recently and immediately attracted the attention of investors. Sia is a service for storing information with full decentralization. This service is very popular around the world because of the option to transfer data from the hard drive to the Sia network.
Decentralization has a positive effect on the average transaction time. In addition, the system stands out with a high degree of reliability. Users can use their own free space for rental, which will bring them regular profits.
The system itself has been developing for a relatively long time, but the project came to prominence only in the middle of the past decade. It was back then that David Warwick created the Siacoin.
The creator of the cryptocurrency does not strive to share information about the early stages of development, so we don’t have much.
Sia works under the following principle: you get a contract to save downloaded data. Under the contract, you are entitled to a certain fee, and in case of violation of its terms, you will receive an automatically charged fine. After completing a certain storage period, you will need to prove that the file still exists, after which you can receive payment.
The creators of the system especially emphasize the possibility of unreliable money transfers. To achieve this, support for payment through channels and bilateral agreements was integrated into the system. Transactions are made instantly, the returns are not practiced, so the likelihood of fraud is further reduced.
Sia has a very low entry threshold, which makes the system a good choice for individuals. You simply provide a place for storing information, and after a certain period, you will receive a reward.
Another cryptocurrency aimed to increase the confidentiality of user information, Verge (XVG) was created on the basis of the Verge platform and initially set the maximum data protection as its goal.
Initially, XVG was called DogeCoinDark and was conceived as a kind of counterweight to Bitcoin. The creator of Verge, Justin Sanerok, believed that the Bitcoin was completely unsuitable for the role of a universal means of payment and wasn’t actually the top crypto to invest. Despite this, it was Bitcoin’s blockchain that became the progenitor of XVG, and there was no ICO at the launch.
The cooperation with Pornhub brought popularity to the project — the developers have bet on the popularity of this resource, and they were not wrong. Pornhub provided access to premium accounts for visitors using XVG as a payment system.
The team working on Verge has made many changes and improvements to the Bitcoin blockchain system, the SHA 256 algorithm is especially worth noting. In addition, the developers have established interaction with TOR and i2P, taking another step towards maximum anonymity for users.
Another important feature of cryptocurrency is the extremely high speed of transactions. Thanks to the use of SPV technology, XVG is ahead of its competitors in this regard.
IOTA (MIOTA) is the “black sheep”…
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