In May 2020 we attended the third major halving of bitcoin, an event that has undoubtedly contributed to an increase in bitcoin prices. For this reason, many market experts believe that 2020, as opposed to the flat market of the previous year, will be a promising year for cryptos. Therefore, from the editorial staff of Bitnovo today we want to share with you what we consider the ranking of the best emerging cryptos of 2020.
Take note!
CRYPTOCURRENCIES: WHAT ARE
Although they’ve been around for several years, crypto currencies became a global phenomenon in 2017, when the price of Bitcoin rose to almost $20,000.
2017 also marked the year when the crypt trade became a popular investment option and an active source of income for people around the world.
For this reason, today, crypto currencies have become a global phenomenon known to most people.
So, if you still don’t know what crypto currencies are, what they are for and what they can bring to society, we will explain it to you in this section.
Crypto currencies are digital currencies capable of operating as a means of exchange at a ‘person to person’ level, allowing direct payments between individuals.
More specifically, they are an Internet-based medium of exchange that uses cryptographic functions to carry out financial transactions.
Cryptocurrencies use blockchain technology to achieve decentralization, transparency and immutability.
The most important characteristic of a crypto currency is that it is not controlled by any central authority: the decentralized nature of the blockchain makes crypto currencies theoretically immune to the old modes of government control and interference.
CRYPTOCURRENCIES: HOW THEY WORK
Crypto currencies can be sent directly between two parties by using private and public keys. These transactions can be carried out with minimal fees, allowing users to avoid the high fees charged by traditional financial institutions.
As you may know, bitcoin is the first and most famous crypto, created by the unknown Satoshi Nakamoto with the intention of creating the first electronic peer-to-peer cash system.
If you want to learn more about the features of Bitcoin, we suggest you read the original white paper by “Satoshi Nakamoto”.
Emerging Crypto: The Best 3 (ETH, TRX, CHZ)
Therefore, now that you have done a review of what cryptos are and how they work, we would like to show you what we consider to be the three best cryptos of 2020, which are the digital coins that we believe may have a promising future*.
*What you will read below is only an opinion and not financial advice.
ETHEREUM (ETH)
Ethereum is considered by many the second most popular crypto, surpassed at the moment only by Bitcoin.
Launched in 2015, Ethereum is the platform based on a decentralized open software, which uses blockchain technology, and allows the implementation of intelligent contracts and dApp to create and execute without fraud, downtime, control or interference from third parties.
Ether (ETH) is the name of the crypto or token of the Ethereum network. As with bitcoin, Ether is a peer-to-peer currency used to pay for computer resources and commissions for any transactions on the Ethereum network.
As we anticipated in the previous article on Alternatives to bitcoin, thanks to its technology, Ethereum has registered a strong growth in a short time, so much so that many analysts believe that in the future it could gain a market share of 25%.
While more recent projects such as Cardano (ADA), Stellar (XLM), Tron (TRX) are trying to replace Ethereum as the leader of the smart contract platform, Ethereum remains one of the world leaders in terms of adoption.
In 2019, according to a Dapp.com report, ETH registered more than 1.4 million active dApp users, up from 800,000 in 2018.
Regardless of the growing competition, Ethereum remains a special technology, as it is increasingly based on the intelligent contract protocol. Certainly, the biggest potential for Ethereum lies in the enormous growth of decentralized finance (Defi).
TRON (TRX)
The TRON project was created in 2017, initially with the creation of an ERC-20 token in the Ethereum network, used to finance the project.
It soon attracted the attention of many crypto enthusiasts and investors, growing dramatically in size.
Tron is a decentralized blockchain platform that uses peer-to-peer network technology. Its main objective is to expand the market for decentralized digital content applications.
According to some experts, most of Tron’s main operation consists of a technology that is not at all innovative and has already been tested by other projects. Although, in fact, most of the other projects try to gain ground by introducing new technologies and features into the ecosystem. Tron is based more on a strong emphasis on advertising, with fairly negligible technological development.
Among Tron’s most important achievements, which point to a promising future, are the following:
1) Purchase of Bittorrent in 2019. This is a platform that has more than 100 million users worldwide and represents 30% of all Internet traffic in the world.
2) Acquisition of the famous blockchain company Steemit.
3) Collaboration in 2019 with Samsung to insert their applications and Dapp in all their new cell phones.
4) In addition, Tron has a blockchain 80 times faster than Ethereum (667 times faster than bitcoin blockchain)
5) It is 20 times cheaper in terms of transaction fees compared to bitcoin and Ethereum.
6) TRON works with a programming language like python and java that makes it easy, favoring the mass adoption of programmers.
Probably the most popular movement of the Tron Foundation was the purchase of the Bittorrent network and the launch of a token in the Tron protocol.
This allowed the project to advertise its services to millions of users of the application for peer-to-peer file sharing. For all these reasons, we can consider TRON an interesting option in the 2020’s most promising crypto scenario in which to invest.
CHILIZ (CHZ)
Chiliz ($ CHZ) is a digital currency designed for sports and entertainment platforms. Thanks to Chiliz, clubs like Barcelona, Atlético Madrid or Juventus can enjoy their own token that allows them to have a greater interaction with their fans.
The tokens are issued using the Socios.com application and through the Chiliz exchange.
Chiliz Crypto (CHZ) grants the right to participate in surveys about the club’s activities.
Once they get the tokens, fans can vote in the application and win prizes.
Chiliz and Partners are now the leading platforms for trading fan tokens. In June 2020, FC Barcelona launched its first tokens through Chiliz and Partners, selling 1.3 million tokens in less than two hours.
More than 4,000 fans have participated in the sale of Barça tokens. The main buyers came from Turkey, Poland, Japan, France, Spain, the United Kingdom and Italy.
There are currently more than 9 million tokens in circulation with a market value of more than $47 million.
The Chiliz project raised $66 million from some of the largest crypto exchanges in the world and major cryptographic funds in Asia.
That’s why Chiliz is one of the most interesting crypts to consider for 2020.
How to invest in the best way in cryptocurrencies
As we have seen in a previous article, one of the best ways to invest in cryptocurrencies is to acquire them in trusted sites that guarantee users direct custody of the same crypts.
Most of the websites that offer us the possibility to buy and invest in cryptocurrencies, allow their clients to keep the digital assets acquired directly in their stock exchange or exchange house. This means that the user is not the direct owner of the crypts.
That is why we recommend that you choose a platform that allows you to be the direct custodian of your cryptos, once you have proceeded with their purchase. However, you can evaluate the different options by following Bitnovo’s step-by-step guide on where to buy crypto currencies.
Best platforms to buy emerging cryptocurrencies
We remind you that Bitnovo is considered one of the best platforms for trading cryptos, since it allows you to buy more than 20 different types of crypts easily and safely.
In addition, it allows you to buy using different payment methods: credit/debit card, bank transfer, crypto currencies and even cash.
If you’re looking for physical stores that sell bitcoin and other crypto currencies to buy in cash, just go to Bitnovo’s website (or download its application) and look for the nearest cryptocurrency couponing outlets.
You can choose the amount you want, and once you’ve got the Bitnovo coupon, you can redeem it for the equivalent amount in cryptocurrencies on the website or in the app.
Now that you have some information and a clue about what kind of crypto currency could succeed in 2020, all you have to do is bet on your favorite crypto.
