Insights
top 5 cryptocurrencies to hold in 2020
Syed Shoeb

In 2019, prices of a few cryptocurrencies have soared to a new high, while a few digital currencies have become deadwood. The good news is that there are still plenty of affordable options available that promise profits. However, predicting which cryptocurrency will thrive and which will go bust is difficult. It is best to bet on cryptocurrencies that are likely to be mass adopted in the near future.

Let’s take a look at cryptocurrencies that one can hold in 2020 and beyond.

Ethereum (ETH)

Ethereum entered the crypto landscape in 2015, and in a short time, it has become the second most valuable digital coin after Bitcoin. Unlike other cryptocurrencies, Ethereum is not just digital currency but is seen as an environment. It has a lot to offer. Developers can use its platform to build blockchain-based smart contracts and other decentralized applications (DApps). Ethereum has also emerged as the preferred platform for launching an initial coin offering (ICO). Moreover, ERC-20 tokens, used solely on the Ethereum platform, have played a big role in creating the billion-dollar ICO industries. Also, tokens have helped mainstream cryptocurrencies.

DAI

DAI, released in December of 2017, is an ERC20 token created through the Makers (MKR) Dai Stablecoin System. Built on the Ethereum blockchain, this decentralized stablecoin is a “ reliable source of stability in the face of volatility,” as it is pegged to another stable asset, the US dollar. One DAI is worth $1 and it will remain so always. The automatic pricing mechanism built into smart contracts ensures that the value remains $1. Unlike other stablecoins, DAI is backed by crypto collaterals and not USD. Promoters of DAI believe that it has the potential to change the traditional banking system.

ZRX

ZRX is the ethereum token of 0x, a permissionless protocol that facilitates the development of decentralized exchanges on the Ethereum blockchain. Within the protocol, owners of ZRX can use it to pay trading fees to Relayers for their services. Moreover, they also get to influence blockchain governance. They can provide inputs on how to upgrade and develop the protocol. As more investors get interested in 0x, the value of ZRX is expected to surge in the upcoming years.

LINK

The ethereum token Chainlink, or LINK, powers the Chainlink decentralized oracle network. It is a general-purpose coin, therefore it can be used for a range of services. Also, its smart contracts are connected to data, events, and payments. There is access to APIs as well. ETH token watchers claim that LINK has “outperformed its competitors when it comes to productivity,” which underscores its popularity. LINK is seen as a good long-term investment.

IOTA

IOTA is the digital currency for the internet-of-things (IoT) industry. Instead of using the blockchain technology, it uses a new platform called Tangle. On his blog, founder David Sontesbo says that IOTA intends to create a “paradigm shift” of IoT, Industry 4.0 and a trustless on-demand economy through establishing a “de facto standardized ledger of everything.”

It is expected that the IoT market would be more than $400 billion by 2020. As the first mover in this space, IOTA is set to see a good spike in its prices. IOTA can be purchased from Binance.

Where can you buy all these cryptocurrencies and make profits?

Crypto traders can buy ETH and DAI using Apple Pay in under 30 seconds. With this, Nuo aims to lower the barriers of entry into DeFi space for traders across the world.

Besides facilitating fiat on-ramp to buy crypto, Nuo also enables users to earn unparalleled interest rates on their crypto assets. The average interest distributed during the last year for the top 4 assets speaks for themselves.

Source: Nuo Network’s Interest rate distribution chart

Start Investing in crypto

Disclaimer: This is not financial advice. Opinions, statements, estimates, and projections in this message or other media are solely those of the individual author(s).

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