Before we jump into the list of cryptocurrencies to watch in 2020, let’s first understand why these digital currencies have a bright future.
The year 2019 can be summed up in two distinct phases for the digital asset market: the first half-year of strong growth, followed by a sharp decline. Nothing unusual for this ecosystem. Nevertheless, the crypto community thinks that cryptocurrencies could be due for big gains this year, and there are few altcoins that will most likely lead the rally.
The core purpose of cryptocurrencies is relatively simple: leverage technology to eliminate the middle-man in financial transactions and make buying or selling things less costly and more efficient. The blockchain is a decentralized public ledger of transactions that is consistent across the whole network and can be viewed by anyone but can only be updated or edited if the whole network agrees.
Traditional currencies need big banks to oversee and verify all transactions. Cryptocurrencies do not, which makes them inflation averse and they cannot be manipulated by governments and central authorities of any country. The mechanism behind crypto generation is so complex that duplication or creation of fake currency is almost impossible. This means they’re less costly and more efficient than traditional currencies.
Sure, there are risks to cryptocurrencies achieving mainstream adoption and overtaking government-backed currencies. But, lower costs and quicker transactions are large enough value props to hint a bright future for cryptocurrencies
Factors to Consider When Choosing a Cryptocurrency for Investing in 2020
Despite the international trend of cryptocurrency devaluation in 2019, some coins still possess a very good potential for making quick and long-term ROI. Do not pay attention only to the current rate of cryptocurrencies because this index is the most volatile and changes drastically within a few weeks. A cryptocurrency that aspires to become part of the mainstream financial system would have to satisfy very divergent criteria.
Consider the following factors and indicators to choose which cryptocurrencies to watch in 2020:
• Utility — is there a need for the cryptocurrency to exist? A good way to look at utility is to ask, does this coin/company solve a real-world problem? What is the scale of that problem that needs solving?
• Market capitalization — the value of all issued digital coins of the particular cryptocurrency. High market cap means a large volume of the crypto coins participating in active transactions, which means an enhanced interest of investors;
• Liquidity level — the higher it is, the faster a cryptocurrency can be sold at the market price. The most popular cryptocurrencies have a high liquidity rate. Trading activity on exchanges shows an actual demand for particular cryptocurrencies among traders.
• Team — who are the people behind it? The team that is behind the token is incredibly important. If the team is strong, they have a higher chance of success even if the idea isn’t groundbreaking than an inexperienced team with a stronger idea.
In a nutshell, cryptocurrency is a potentially great digital asset for investment. Read the following recommendations below and find what are top cryptocurrencies to watch out for in 2020.
1. Fusion (FSN) — Best POS Cryptocurrency
Fusion bills itself as an all-inclusive blockchain-based financial platform that offers cross-chain, cross-organization, and cross-data source services through smart contracts. The project uses the Hierarchical Hybrid Consensus Mechanism (HHCM), with the goal of creating an efficient and safe platform.
Notably, Fusion leverages what it dubs ‘Distributed Control Right Management’ as a security layer that protects crypto assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no single node can gain control of assets.
Its coin, FSN owns the 154th place in the crypto world by capitalization with $26.5 million.
Why Fusion is a Cryptocurrency I should Watch?
FSN is one of the best cryptocurrencies to watch because it has some intriguing technology going. They have the ability to perform cross-chain asset swaps, and the ability for things like insurance, loans, and derivatives to be tokenized. We have no doubt that these will be very valuable services in the future.
The most prominent competitive advantage FSN has is that it allows access to cross-chain cryptocurrency trading. It aims to bring together various different assets, from vanilla stablecoins to more complex asset-backed digital securities. Their focus on building the tools powering financial transactions is of immense value to the blockchain world.
For more information on this crypto, visit their official website: https://www.fusion.org/
2. Cosmos (ATOM) — the Interoperable, Scalable Blockchain Network
Cosmos is not just a product but a decentralized ecosystem of independent blockchains that its creator, All In Bits Inc., hopes is the foundation for the next generation of internet technology. Instead of participating in divisions between crypto factions, Cosmos brings them all together, enabling interoperability, currency exchanges, and an Internet of Blockchains.
Its coin ATOM is the proprietary staking that tokenizes transactions. It has a market cap of $496 million and is ranked at 26th place among the altcoins.
Why Cosmos is Among the Top Altcoins to Watch?
Cosmos is a well-built machine that can easily compete in the modern blockchain market, which makes it one of the top cryptos to watch in 2020. This altcoin is extremely exciting as it solves the scalability problem.
Developers who are eager to build their own blockchains can do so quickly using the Cosmos SDK, and scale their applications to hundreds of thousands of users. In turn, this will have a positive knock-on effect on the mainstream adoption of blockchain technology.
People are building dozens of real, interesting projects with Cosmos and they are building it because they know it’s a very useful technology. IRISnet, Sentinel, Agreements Network, FOAM, and TruStory have chosen the Cosmos Network to host their applications.
Top exchanges where you can buy cosmos include Binance, Kraken, and Coinswitch.
For more information on this crypto, Visit https://cosmos.network/
3. ICON (ICX) — Blockchain of Blockchains
ICON is a South-Korean based technology and network framework which was designed to allow independent blockchains to interact with each other. There is no dearth of its application across major industries — such as insurance, education, healthcare, finance, and more.
Its coin, ICX is used for transaction fees/computations for smart contracts. It is currently ranked 48th with a market cap of $175 million in the crypto world.
What Makes ICON a Promising Altcoin?
ICON is also one of the best cryptocurrencies to watch out for in 2020. Its’ slogan, “hyperconnect the world,” is incredibly logical, as the project aims to create one of the biggest decentralized networks found anywhere, allowing for hyperconnectivity between countries and people.
Recently, ICON has officially unveiled Loop Fault Tolerance 2.0 (LFT2), a new consensus algorithm that improves the performance of blockchains. LFT2 is hard evidence that ICON now has the technical prowess to innovate head-to-head with global blockchain projects.
Its partners are a lot of big names and it has the support of a country behind it. Its’ main net has already been launched. It has accomplished far more than other coins in its field, as it has far more experienced partners, better vision, and drive. So it has got to be one of the top coins to invest in this year.
If you want to buy ICON, you can visit the following exchanges: VELIC, Kraken, and UPbit.
Visit their official website for more information: https://icon.foundation/?lang=en
4. Neo (NEO) — The Chinese Ethereum
Neo is an open-source decentralized platform with a vision to realise a “smart economy” by utilizing blockchain technology and smart contracts to issue and manage digitized assets. It can support applications written in a wide variety of programming languages. Since its inception, Neo’s Onchain technology was designed to be regulator-friendly with a centralized approach that is quite different from that of most cryptocurrencies.
The market cap of this altcoin is about $719 million and is currently ranked at the 21st position among the top cryptos.
Why Do I Think Neo Is a Cryptocurrency Worth Investing In?
The cryptocurrency world remains a pretty small one. There are only a few names that truly ring a bell, and Da Hongfei is certainly among them. He is the mind behind Neo and he has claimed that his project will become number one in 2020.
This altcoin breaks many stereotypes, including being the first open-source token originated from China. It claims to transform the traditional financial system by combining digital and real assets. Its unique Superconduct trading mechanism allows users to trust the funds through a decentralized platform. So, NEO’s appliance is beyond doubt, as its rapid demand growth.
All in all, we think Neo is a cryptocurrency to watch in 2020 because of the technical robustness of the Neo-Onchain concept and its promising centralized approach, making it an attractive option not just for Chinese authorities, but for everyone who is wary of the anonymous and decentralized virtual currency market.
The exchanges which trade Neo include Coinbase, Changelly, and LocalBitcoin.
Their official website is: https://neo.org/
5. Tron (TRX) — the Fourth Generation Blockchain
Tron is one of the largest blockchain-based operating systems in the world. It aims to be a “fourth-generation” blockchain, offering a platform for the deployment of decentralised applications via smart contracts. Ultimately, Tron’s purpose is to provide free content and storage distributed through the Blockchain and to give back control of the data to content creators who often face compensation challenges with centralised platforms like YouTube.
Tron also controls two platforms with huge followings, BitTorrent and Steemit. Its coin TRX holds the 17th rank with a market capitalization of $1054 million.
Why Tron Is a Cryptocurrency to Watch in 2020?
Tron has turned into one of the most hype projects in the crypto world. The founder, Justin Sun, listed as one of Forbes Asia 30 Under 30, ensures that his project is one of the leading cryptocurrencies and continues to make moves that could help boost the network.
Tron aims to build a free, global digital entertainment system that enables users to share digital content in an easy and cost-effective way. The idea is to cut the middleman and allow anyone to host digital content on its blockchain-based ecosystem.
For content creators, this model gives them a unique chance to lower the price of third party distribution channels. For the public, the lower fees on the creator’s side might translate into lower prices to access the content. Its only fair to say that TRX is the cryptocurrency of this ecosystem.
Top exchanges where Tron is available are Kraken, Toro, and Coinswitch.
Visit their official website for further information: https://tron.network/
6. Eos (EOS)— the Third Generation Blockchain
Calling itself the most powerful infrastructure for decentralized applications, EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dApps) on its platform.
It supports all of the required core functionality to allow businesses and individuals to create blockchain-based applications in a way similar to the web-based applications, like providing secure access and authentication, permissioning, data hosting, usage management, and communication between the dApps and the Internet.
Its coin, EOS currently has a market cap of $2344 million and ranks at 9.
What Makes Eos One of the Top Currencies for 2020?
Crypto experts really like to include Eos to the list of the most promising cryptocurrencies for the next few years. It has a consensus algorithm of delegated proof of ownership (DPoS) and an infinite number of similar blockchains.
If platforms like Twitter, Uber, and Amazon ever move to a blockchain, the core of their work will definitely be EOS. The EOS system offers scalability and it is ready to replace other competitive blockchains.
While Top coins like Bitcoin and Ethereum can theoretically process seven and thirteen transactions per second respectively, EOS manages an average of 60 TPS. Bitcoin takes on average 10 minutes to validate a transaction, Ethereum about fifteen seconds, while EOS performs two validations per second, making it almost immediately to confirm a transaction.
EOS was ranked №1 towards the end of 2019. And rightly so, because its modifiable smart contracts are very practical for programmers.
If you want to buy EOS, you can do so at these exchanges: Coinbase, Binance, and Kraken.
Their official website is: https://eos.io/
7. Cardano (ADA) — More Than Just a Cryptocurrency
Cardano is an open-source decentralised public blockchain that is more than just a cryptocurrency; it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations, and governments all around the world.
Cardano is developing a smart contract platform that seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.
Its coin ADA is ranked 10th with a market cap of $2030 million.
Why Do I Think Cardano Is Potentially Profitable?
The prime reason for Cardano being one of the cryptocurrencies to watch in 2020 is because it aims at becoming the home for large scale financial applications. Like most cryptocurrencies, ADA is designed to be a fast and reliable vehicle for value transfers.
The Cardano network is built on layers, which offers a high degree of flexibility when it comes to updates. Since Cardano also allows the development of dApps, the cryptocurrency community expects multiple services to develop around it and therefore push ADA higher.
Cardano relies on a strong community of tech-forward people. The company has even partnered up with the University of Malta to offer multiple courses on the programming languages used within the Cardano network. Another major innovation of Cardano is that it will balance the needs of users with those of regulators, and in doing so combine privacy with regulation.
ADA is traded at the following exchanges: Binance, Coinnest, and Bittrex.
Link to their official website is: https://www.cardano.org/
8. Chromia (CHR) — Power to the Public
Chromia, a small cryptocurrency to watch in 2020, is a blockchain platform for decentralized applications, conceived in response to the shortcomings of existing platforms and designed to enable a new generation of Dapps to scale beyond what is currently possible. The idea behind this altcoin is to create a platform with a technical solution that is geared for the real world — called a relational blockchain.
The coin, CHR ranks at 373 with a market cap of $10 million.
Why Should One Consider Investing in Chromia This Year?
In Chromia Dapps are more than just a collection of smart contracts. Each app has its own blockchain, a sidechain that runs on a specific set of nodes, own tokens, own monetization, and its own governance. This gives Dapps developers a high degree of flexibility and control.
The team behind Chromia aims to use their knowledge and experience of combining blockchain and traditional databases to create something that people actually can relate to, in an environment that people are familiar with and in a language that everyone can learn. In short, Chromia is ready to be used by anyone having cool ideas, not only by those having the technical skills.
Chromia can be bought at these top exchanges: Kucoin, Binance, and Bilaxy.
Further information can be found at: https://chromia.com/
9. Fantom (FTM) — the Answer to Blockchains Scaling Problems
Fantom is often described as the “DAG based Smart Contract platform” that basically aims to solve the issue of scalability and slow confirmation time that characterize the existing blockchain technology.
However, their technical whitepaper puts more emphasis on chain’s low transaction costs and drastically increased throughput capacity, rather than on smart contracts.
At the heart of the Fantom chain, which has three layers — transactions, data/smart contracts, and Dapps — sits the “Lachesis Consensus Algorithm”. The main feature of LCA is that it maintains the chronological order of chain transactions by using the “story root”, which is kept in the “even block” and, basically, records chain’s history.
The coin FTM has a market cap of $13 million with a global rank of 319.
Why is Fantom included in the list of cryptocurrencies to watch in 2020?
The LCA secures the network through validators located around the world and also enables Fantom to settle transactions instantly and run smart contracts at a high speed.
Fantom network is modular and connected which allows running your own customized blockchain that is connected to one ecosystem and instead of waiting for long confirmations, transactions on Fantom are instant and secure.
Fantom is available at these top 3 exchanges: Coinswitch, YoBit.net, and Idex.
Their official website is: https://fantom.foundation/
10. Monero (XMR) — Cash for a Connected World
Monero is a private digital currency which is built on the blockchain concept. Monero’s blockchain is intentionally configured to be opaque. It makes transaction details anonymous by disguising the addresses used by participants.
Along with anonymity, the mining process for Monero is based on an egalitarian concept — the principle that all people are equal and deserve equal opportunities. When launching Monero, its developers did not keep any stake for themselves and banked on contributions and community support to further develop the virtual currency.
Its coin, XMR owns the 16th rank in the crypto world with its market cap of $1130 million.
Why Is Monero Considered to Be Valuable for Investment?
The one-line answer to why Monero is one of the top cryptocurrencies to watch out for in 2020 is; It is fast, private, and secure.
It has achieved a high level of popularity and acceptance for its privacy-oriented features. The Monero ledger, unlike Blockchain, doesn’t record the actual stealth addresses of parties to transactions, and the one-time created address that is recorded is not linked to the actual addresses of the parties as well. With Monero, one can spend safely, knowing that others cannot see their balances or track their activity.
Monero is decentralized, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Third-parties do not need to be trusted to keep your coins safe.
One can trade in Monero on leading cryptocurrency exchanges like Kraken, Poloniex, and Bitfinex.
For further information, visit Monero’s official website: https://www.getmonero.org/
Cryptocurrencies are unlike any trend we’ve ever seen before, and the crypto market has already started this year on a positive note. We believe that the top cryptocurrencies to watch in 2020 above are poised to hit record highs. So this is another opportunity for you to turn a fistful of dollars into millions.