Top 5 Cryptos for 2020 — What’s the Best Cryptocurrency to invest in 2020 ?
I cannot give you financial advice, but I can tell you how I study projects and also what I’m excited about so that way you can make better decisions for yourself.
When I first started investing in cryptos ; it was about making a fast buck. Buy and Drop.
Buy low, sell high.
I treated each currency as a cash cow and didn’t care for anything except for return on investment. I didn’t read anything or know much about some of the currencies I was investing in. Then as I began to study and learn more about the digital currency, I developed an appreciation for the technology. You should do the same. You’ll eventually get burned in blind trading. You need to be investing in coins that have a strong core. Many of the cheap uninspired Altcoins won’t be around two years from now, and people will lose money. In fact, even some of the Altcoins that have high contributions and a great development team might end up flopping due to high competition and influence of investor sentiment.
My advice is to invest in coins that have a proven track record and are very likely to be around in the future with a slight mix of high-risk currency just for fun. There are many indicators to determine which coins have potential. The common method of choice would be to go with what everyone thinks will succeed and where everyone is dumping their money. You need to do your own research.
Here are a few tips before you dive into the cryptocurrency world.
Educate yourself. Learn the technology behind these cryptocurrencies. Understand the phenomena and DO NOT be a victim of the “greater fool theory.”
Secure your wallet. This cannot be emphasized more. The more the demand, the greater the risk of these online exchanges being compromised or overburdened.
Hold for long. Lock in some profits for your satisfaction by day trading, but it would be a better deal to reap its benefit after a few years. I made my first investment at a certain price x. Today it has jumped to 10x.
The technology radically changes all the time, and the crypto space exists on the bleeding edge. So as always, I am just a guy on the internet, and this is not investment advice. I am just going to point out a few cryptos I think have a long term future; say why I feel so and leave the rest up to you.
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Bitcoin; has been around for more than ten years and has a large community with a big pool of developers. I think it is here to stay in one way or another.
The herd is coming: Bitcoin has already gained a lot of attention. The greater fool theory has started to show its effect.
Coinbase, the US’ largest bitcoin exchange, has seen a surge in the number of users. 100,000 buyers in 3 days.
Remember, the current price of $7,300 would seem to you of the same small magnitude as many people today see the year-ago price of $1000.
The silicon valley is upbeat. Listen to John McAfee, Bill Gates, Richard Branson, etc.
It is a store of value. Digital gold if you like.
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Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q
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