Bitcoin is, without a doubt, the trendsetter in the world of cryptocurrencies. Since its inception, it has ushered an array of other digital currencies that have changed the way people around the world do business.
Even though Bitcoin has been the inspiration behind the ever-growing crypto ecosystem, it doesn’t mean that it’s the only digital currency need to pay attention to in 2020.
Today, there are over 2,000 cryptocurrencies that enjoy enormous popularity among various communities of investors.
It’s worth noting that the crypto world is always expanding, and no one knows when the next digital token will hit the market. But in the current crypto landscape, below are some lucrative digital currencies other than Bitcoin you should consider investing in 2020.
- Ethereum (ETH)
Ethereum finds its way on the helm of our list for a good reason – it is a decentralized system that allows decentralized applications (DApps) and Smart Contracts to be developed and run without fraud, downtime, control, and interference for unauthorized third-party entities. This simply means that this is one of the most secure cryptocurrencies you can invest in.
This cryptocurrency operates on its cryptographic token known as Ether. This platform was launched in 2015, and today, it comes behind Bitcoin as the second-biggest cryptocurrency by market cap.
As of January 2020, Ethereum had a per-token value of $142.5 and a market cap of a whopping $15.6 billion.
- Litecoin (LTC)
Often referred to as the ‘silver to bitcoin gold,’ Litecoin was among the first cryptocurrencies which have followed Bitcoin’s steps in many ways since its inception in 2011.
Even though Litecoin architecture takes after Bitcoin, its block generation is faster; hence it guarantees swifter transaction confirmation times than most cryptocurrencies of its caliber.
With a market cap of $3 billion and a per-token value of $46.92, Litecoin is a digital currency you should not overlook.
- Ripple (XRP)
Ripple is a leading altcoin that experts project will gain big in 2020.
This cryptocurrency leverages the Blockchain technology to allow payment providers, corporations, digital asset exchanges, and financial institutions to send money easily in all parts of the world. This is why it has been regarded as one of the brains behind cross-border cryptocurrency payments.
As of January 2020, Ripple had a per-token value of $0.21 and a market cap of $9.2 billion.
As cryptocurrency awareness and demand skyrockets, Ripple’s value will rise significantly, and this is the main reason why you should consider investing in it in 2020.
- Binance Coin (BNB)
Binance coin is a relatively new cryptocurrency, but one that has taken the market by storm. Founded three years ago, this digital currency has become the biggest exchange in the world in trading volume.
In the Binance platform, users can trade various cryptocurrencies and pay for particular goods and services.
Binance has a market value of $2.3 billion and a per-token value of $14.71. Thanks to its growing popularity, this digital currency will rise in value; thus, investing in it is one of the wisest business decisions you can make.
- Libra (LIBRA)
Libra is a hyped cryptocurrency that is yet to launch but has gained global attention owing to the fact that it will be owned by social media giant – Facebook.
Due to Facebook’s global reach, experts say that this digital currency has potential for huge volumes of exchanges; thus, it might have a bigger market cap than most existing currencies.
Libra is set to be launched by the end of 2020, and when it does, endeavor to invest in a few coins. You never know, they could be all you need to achieve the success you have been dreaming about in the cryptocurrency sphere.
Even though the digital currencies mentioned above are reliable and lucrative Bitcoin alternatives, you should not invest in them blindly. As you can research on Currency.com on why are platinum prices falling, make sure you also do proper homework about the potential of these cryptocurrencies.
With the proper information, you will have the power to make the most informed decisions on what you should invest your hard-earned money in.