We will start with Bitcoin
Bitcoin will always be a good investment especially for beginners. The Bitcoin cryptocurrency continues to lead in terms of market capitalization and trade volume. Most of the exchanges can trade Bitcoin and this is the cryptocurrency that is used the most.
Bitcoin is always a good choice if you are looking to invest in a single cryptocurrency. The first true peer-to-peer currency is still the number 1 of all cryptocurrencies. As it stands, there is no clear indication that Bitcoin will be taken over in the foreseeable future.
The next Bitcoin Halving will also take place in 2020. This means that fewer coins are expected to be distributed during mining. The available amount grows more slowly, so that every single coin becomes more valuable as soon as the demand increases. So many investors expect price increases after halving.
This is not a guarantee that Bitcoin will experience the biggest growth in 2020. But it's the most stable cryptocurrency to invest so far.
Advantages:
- Strongest market dominance, largest trading volume
- The most widely used Cryptocurrency worldwide
- Secure facility
Bitcoin alternatives
There are some Bitcoin clones that could also be a safe investment haven. They are cryptocurrencies such as Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC) or Bitcoin SV (BSV). These cryptocurrencies have been built to be faster and more technically advanced than Bitcoin, but as it stands they will not be able to break its market dominance in the foreseeable future.
They were manufactured with the same purpose in mind and that is the digital means of payment for the Internet. The prices sometimes are often in movement that is parallel to the Bitcoin price, but can also rise or fall with a time delay. Some of them have the potential to grow faster than their template, but it is not really guaranteed.
Things to consider:
- Good alternative to diversification
- Potential for big price gain
Binance Coin (BNB)
The Binance Coin (BNB) is the cryptocurrency of the largest exchange in the world: Binance. The Exchange has grown considerably large in the most recent years and certainly they have plans to continue doing so in 2020. When making an investment in the Binance Coin it is equivalent to making an investment in the Exchange.
The Binance Coin can be used to trade on the cryptocurrency exchange. If you buy cryptocurrencies with them, you get discounts on your purchases. This therefore means that Binance coins have a benefit for every trader. Binance will soon start a decentralized exchange called Binance DEX, which makes it possible for the Binance coin cryptocurrency to be used as a means of payment.
This will make the Binance Coin extremely liquid. Shortly after the start of the cryptocurrency, it was able to get a permanent place in the top 10 largest cryptocurrencies on CoinMarketCap. In 2019, the BNB price tripled.
Things to consider:
- Extremely liquid cryptocurrency
- Currency on the largest exchange: Binance
- Could already gain good prices
Tron (TRX)
Tron is a platform on the blockchain which was created by Justin Sun, a reputable man in the crypto community. Tron was created as a platform which will serve to be an independent ecosystem for the entertainment industry. Every user on the platform should be able to upload their own videos, pictures, music etc without having to depend on companies like YouTube.
It operates using the smart contract principle similar to that of Ethereum. Users can upload data, make it available to other users and write their own smart contracts.
Tron now attracts a large number of investors which indicates that there is a lot of potential in the project.
Things to consider:
- Decentralized platform for entertainment
- Good gains in the past
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