Bitcoin is back in business with its value recovering from the bear market. The increasing value of Bitcoin and the thawing of a crypto winter is also leading to increased sentiment in the wider crypto-verse. Altcoins are back in business too and showing healthy jumps in value. As we are already well into 2019, we can look to which coins offer good opportunities for investors and users into 2020 and beyond. This post will dig into the 5 most promising altcoins for 2020.
If you haven’t come across this one already, CoinMetro is a regulated exchange. Why am I excited about this one? I’m a user on the platform and it’s growth from launch has been impressive. It offers a great range of user interfaces for beginner traders right up to advanced traders: it’s really easy to navigate and user friendly.
Beyond having a smooth user experience if we consider the fact that CoinMetro is regulated this leads us to a number of solid plus points. Firstly, your Bitcoin and altcoin is as safe on here as anywhere else. This is backed up by robust KYC. Secondly, the future is going to have an increasing emphasis on regulated exchanges as crypto becomes further embedded in global flows of finance.
This means that from an investment point of view the native token XCM has the opportunity to grow significantly in value. A trading and investment opportunity wrapped up in one altcoin is why this one makes my 5 most promising altcoins picks.
Nano is attempting to become what Bitcoin sometimes struggles to be: a fast and efficient alternative to fiat currency. It has some great benefits which catapult it into a position as a growth crypto. It’s free of fees, transactions are super quick and it can scale effectively.
Let’s take a look at scaling as an example of the strengths Nano brings to the table.
All transactions on Nano are handled on the accounts blockchains and verified by principle representatives. This drops the idea of block size issues because nodes are not responsible for maintaining a vast record of all network transactions. Nano only needs to store the individual account balances of each account-chain rather than their entire ledger.
For example, compare this Bitcoin’s currency scalability. More information is stored, sluggish transaction times and high fees. Nano’s account-chains make for a lightweight infrastructure. Consequently people cite this pathway as the next evolution of blockchain. Whether Nano is an evolution up for debate nevertheless it’s a exciting cryptocurrency. If you want to dig deeper into Nano – check out my comprehensive Nano review for beginners.
It’s one altcoin that has the potential for a good run 2020.
3. Basic Attention Token (BAT)
The BAT team created Brave, an in-house native browser which is integrated with the BAT system. BAT tokens are the native currency that is used by the system.
The BAT token is used to tip content creators or anyone that you find helpful on the internet. You can choose to send one time payments to specific people, or tip content creators monthly.
Additionally, users who watch ads can get rewarded in BAT. Utilising smart contracts, advertisers can lock up BAT tokens. As their ad is viewed, their funds are released to both the Brave Browser and the end viewer.
The BAT token is involved in the hot industry of browsers and it’s an altcoin with great growth potential in 2020.
Ripple is oriented towards large institutions instead of individual users. It offers a financial settlement service for banks that allows them to transact directly and instantly across national borders.
Unlike many altcoins, Ripple has made inroads into real world adoption and has partnered with large financial institutions around the world.
For example, in June 2019, Ripple entered into a strategic partnership with MoneyGram (NASDAQ: MGI), one of the world’s largest money transfer companies. MoneyGram operates globally in the $600 billion global remittance market, serving millions of customers in more than 200 countries and territories, supporting multiple currencies.
It’s these type of partnerships that highlights why Ripple has been given the nod for inclusion in my best altcoins for 2020. As an aside, there’s an interesting debate to whether XRP, the native token of Ripple, is even a cryptocurrency (follow the link to find out more).
ChainLink is a platform which attempts to bridge the gap between smart contracts on the blockchain and real-world applications, which often tend to be off the blockchain.
The cryptocurrency uses ‘oracles’ which find and verify real-world data and bring it on-chain to be integrated into smart contracts.
Bridging the the gap between smart contracts and the real world through ‘oracles’ could lead to massive adoption of blockchain and Chainlink are at the forefront of this tech. This has not gone unseen by some of the tech industries big hitters.
In a blog post Google walked people through using Chainlink and how it works, causing Chainlink prices to spike some 75% in the process. This one has the potential to continue to set all time highs.
Chainlink has to be in the top pick altcoins for 2020.
And that’s my 5 most promising altcoins for 2020. If you’ve liked this post, give it a share below. And if you agree, disagree or would like to suggest a big hitting altcoin that I didn’t cover here drop it in the comments.