Everyone around the internet is just asking – How can I earn from Bitcoin? Which cryptocurrency should I invest in? Which is the most profitable cryptocurrency today? So, today we have analyzed which is the best cryptocurrency to invest in 2020?
There are over 200 Cryptos listed and may also increase in the near future. So, let’s just break this article into which is the most rising currency and few thoughts on investments. Buy and Sell cryptocurrency has been popular these days.
What Should You Know Before Buying Cryptocurrency?
Investing in cryptocurrency is a risky business. You don’t know when the prices will go down and when will they increase. But, remember this if you just had invested $5 in Bitcoin 7 years ago you might be a millionaire by now. Yes, that’s true!
Also, recently Ethereum increased by 600% and that’s huge. There are many now investing in Ethereum. But, Bitcoin is still leading. These are regularly changing, the graphs of currencies change every minute.
If you have just recently invested in a currency and did not keep any track then it is possible that the price has gone up or down drastically.
Cryptocurrencies are somewhat like to stocks but are more volatile!
These are all cryptos and the values changes per minute. Bitcoin is now the highest valued also Ethereum is rising. Just have a look at the prices of currencies Ethereum is next in the line, so, people are just investing in Ethereum. It is said that Ethereum is the next Bitcoin.
Do you want to get the most profit in investing?
So, first of all, you will have to take a look at – what circumstances the prices go up and down. You might not get the algorithm correct. But who gets it right. Even I go wrong predicting.
So, I suggest that you must look what is going on the cryptocurrencies. There are also some things like the hard fork and soft fork which bring down the values. I suggest you watch this video to have a better understanding of hard & soft fork.
When To Invest In Cryptocurrencies?
So, this is widely asked question??
I bet that you do have the same question in your mind. And I have followed same steps to invest in them as I have listed them below. This may not for with everyone but I’m sure if you go through my technique this may help.
Let’s say for example about Bitcoin. I will show you how to invest in Bitcoin as an example.
Today the cost of Bitcoin is $2100 now you don’t invest it’s high and the graph is growing. Let it grow!! But keep an eye on it. But after some time maybe it will take days where the Bitcoin will fall drastically for example from $11000 it went to $8000. (This has recently occurred).
Also when it goes down you see that the graph is falling slowly that means the Bitcoin is going to be stable.
So, now you will see some peak in the price and it will start growing. This is the time you invest. You just saved at least $3000 and you have a lesser risk of loss.
So, by following this method you can earn more. It’s simple to follow but you must have patience and also have to keep looking at the graph. No matter which currency it is.
Which Currency Should You Invest In?
Many of them now have started investing in cryptos and I think you must too. Further, there are over 200 coins and it has been harder to choose from. But, here is the list that I have compiled. I have studied them it might be useful for you to narrow them down.
There are several currencies that are rising. It is also said that Ethereum is the next Bitcoin and sure it is.
You must invest in Bitcoin. People all over the internet are asking why should I invest in Bitcoin? Sure and simple answer is that – Bitcoin is widely accepted currency around the whole world and so many countries have started accepting it.
Let say now Bitcoin has been accepted by the USA. What will happen when it will be also accepted by other countries like India, China, Japan, and others. It will surely grow its acceptance and more and more people using it will increase it. Bitcoin is like gold it all cannot be mined in a single day.
There will be lesser no. of Bitcoins in the world than the people using it. So, the price will grow up.
Let me show you something that I recorded for my presentation but now it’s just my negligence that I should have invested.
This was the graph of 4th Of August 2017 and you can look that the price of 1BTC is $2883.
So, after few days it has skyrocketed the price just after 4 days. Another snapshot below has been taken on 9th August which shows and good peak in price.
By comparing the prices on these days you might have been profited about $570 and that’s huge for 5 days. As per my study, I would say it will reach $4000 in these coming months so act faster.
But? Should you invest in Bitcoin in 2018?
Ethereum is another great cryptocurrency. It is the second most popular currency and now costs about $289. Ethereum has a steady growth and more and more people are investing in Ethereum after Bitcoin.
Ethereum is the next cryptocurrency to invest in.
But, Why Ethereum?
The Same question has been asked again and again. Let me explain to you with a simple example of questions.
Which would you choose?
- Product A which has been on the market for a long time. It has good quality and is known by many people. But is expensive.
- Product B which is new on the market. Has the equal and has the best quality than Product A and is known by fewer people. Is cheaper.
Many of them will start buying product B not most of them, but when the flow starts everyone will buy B in comparison to A.
People will start investing in ETH and you should also. It is believed that ETH may reach the first $1000 mark in this year.
Dash has currently been in talks. Dash is way easier than Ethereum in terms of payments. But, Ethereum and Dash are in the race for $100 mark and maybe they are closer to each other. Both of them are good and Dash has more active developers so we should not underestimate it.
Dash would be a good altcoin. Dash had 500% hike.
Let’s have a look at the graph.
On Jan 6, 2017, the price on 1Dash was 16$.
But today as of 9 August 2017 price of Dash has gone up and costs $205.
Well, considering today as of 13th Feb 2018. Dash is $604 i.e double than what I mentioned earlier. (Update).
Ripple is a centralized currency different than every other cryptocurrency. Currency the price of Ripple is $1.2 or let’s say below $3. The market cap of Ripple is $41,576,802,425 USD.
Ripple (XRP) works somewhat different than other cryptocurrencies. Let’s compare Ripple to Bitcoin. Bitcoin can be mined and there are new BTC formed every day. But, with Ripple it’s different – All the Ripple will there be ever present is now present in the world. It isn’t mineable.
Instead, if a person A sends XRP to Person B the transaction takes place instantly. But, here small amount which is negligible is taken away from the transaction and is destroyed. This makes the XRP blockchain more secure not allowing the spammer to spam the network.
Ripple is made for banks. Also, many banks have started to work with the Ripple Technologies to implement it. Banks like Axis, UBS, Standard Chartered, BMO, UniCredit, etc.
Now, here is my speculation – What if every or small amount of banks start using XRP? Banks makes the transaction is a large amount and this makes a large amount of Ripple to be destroyed. By this way, the Ripple will become less in no. and will increase its price.
Ripple will have an slow growth but it’s no risk if you want to invest in Ripple for the long term.
Here is a small guide to Ripple –
Other Cryptocurrency To Invest
There are several that you can choose you from. There is Monero which has a rapid growth and may seem to grow. Zcash is another with $239 price and a market cap of $72,953,800. Another one that I would recommend is Litecoin it today costs little lower as $150 but it may seem to increase.
What Can You Do?
There are two main things that you can do.
One is you can do long-term investment. You buy a coin and keep it until its price has gone really high. There are few friends of mine who have invested in Bitcoin when it was $1500 and till today they have not withdrawn it. They seem very good and as per their view, they say it is still going to go high.
No doubt Bitcoin is the coin that is gaining more and more popularity. You can invest in cryptos and gain profit. Most people keep their money in banks for the yearly interest of 10% but here it’s different. But if you have invested correctly then you have more profit.
But, remember there is always a Con of loss. People lose their money. You must keep in touch with the internet. There is a whole lot of discussion going on if the price will go high or low.
So, this was my guide on which Cryptocurrency To Invest in 2018.
But after all your views are also important. Comment down below on the currency that you are thinking to invest in?