Top 5 cryptocurrencies to invest in June 2020
Fundamentally, the cryptocurrency market is driven by Bitcoin’s price movements. Despite the market’s volatility, however, many in the crypto space anticipate a boost in the demand for cryptocurrencies especially with the just concluded Bitcoin halving.
Bitcoin halving is a deflationary event programmed into the Bitcoin blockchain to cut by half Bitcoin rewards miners receive.
Also, with the ongoing global pandemic, governments have initiated economic stimulus packages that are seen by many savvy investors as nothing more than a move to print money. Therefore, more investors are now using cryptocurrencies like Bitcoin as a hedge against an uncertain global economy.
With that in mind, now is the best time to invest in cryptocurrencies. If you are looking to invest in crypto, the best move is to set your Bitcoin price alerts and make informed investment moves.
To help you get started is this list of the top cryptocurrencies to invest in.
At the top of our list for the best cryptocurrencies to invest in is Ethereum. Even though it is the second-largest cryptocurrency after Bitcoin in terms of market capitalization, Ethereum boasts of several practical smart contract applications that make it an attractive investment in the long run. According to cryptocurrency market watchers, the demand for Ethereum will increase alongside an increase in the demand for blockchain and its functions. In addition to the many practical applications on the Ethereum blockchain, Ethereum is also backed by several fortune 500 companies like JP Morgan and Microsoft. Plus, if the upcoming shift of the Ethereum blockchain from a proof-of-work protocol to a proof-of-stake algorithm succeeds, speed and efficiency of the Ethereum blockchain is set to increase for the better. This will make it easy to use ETH on more revolutionary decentralized applications.
Bitcoin’s market capitalization makes up about 65% of the entire cryptocurrency market. Also, with the current turmoil of the global financial markets as a result of the pandemic, more investors who have taken a hit are looking to Bitcoin and other traditional assets in the search for haven investments. As governments continue to print money, it is becoming clear to most investors that the biggest risk lies in putting all hopes on cash. By its decentralized nature, Bitcoin (like gold) has little correlation with the swings of the global economy. As a result of its properties, investors now refer to Bitcoin as ‘digital gold.’ Furthermore, with the realization of the continual maturity of the crypto market, financial experts like JP Morgan now recommend the participation of institutional investors into the crypto market.
Cardano is often referred to as a third generational cryptocurrency after Bitcoin and Ethereum. Founded in 2015 by Charles Hoskinson who is also the co-founder of Ethereum, Cardano is known in some circles as the ‘Ethereum killer’ since it is designed to host large scale decentralized financial applications. ADA is the native cryptocurrency on the Cardano blockchain. Compared to Ethereum, the Cardano network runs on flexibility not to mention a high level of efficiency in terms of updates on the network. For this reason, many crypto enthusiasts and investors expect the coin to grow and mature as multiple decentralized financial applications are launched its blockchain. Already, there are ongoing projects that are using it to solve real-world problems. Also, Cardano has partnered with the University of Malta to offer multiple blockchain programming courses. All these developments and a strong tech-forward community make Cardano one of the best investments in 2020.
Zcash (ZEC) is one of the top privacy coins in the crypto world. With growing online censorship, experts predict a growing demand for privacy-centric coins. As much as Bitcoin is the most popular cryptocurrency, it lacks privacy. Therefore, for crypto enthusiasts looking to remain anonymous online, the best alternative is Zcash. This coin is a fork of Bitcoin and has a total fixed supply of 21 million coins. Besides, Zcash uses a unique privacy protocol that guarantees privacy, speed, and scalability of transactions. This makes Zcash an ideal cryptocurrency especially for online gambling.
EOS is another decentralized application platform that rivals Ethereum in that it is a smart contract platform that seeks to eliminate transaction fees. The EOS vision is to create a blockchain that seamlessly scales to thousands of transactions per second. At its core, EOS aims at solving bitcoin’s pain points such as scalability, speed, and usability. With a delegated proof of stake algorithm, EOS claims to be more flexible than other open-source dApp platforms. Furthermore, EOS boasts of being one of the better-funded crypto projects ever with an estimated $4bn raised through its initial coin offering in 2018.
The best app for cryptocurrency price alerts
Bitcoin halving and a significant monetary stimulus by central banks across the globe provide both technical and economic support for the increased demand of cryptocurrencies. That is why experts now predict that bitcoin’s price will appreciate in the long run.
However since the crypto market is ever-changing, the best move before making any investment, is to conduct due diligence and be on the lookout whenever a price swing happens.
The best app for cryptocurrency price alerts is Cryptocurrency Price Alert by CoinMarketAlert. This app allows you to keep track of a coin’s price movement in the market with ease. You can use it to track the price movements of several cryptocurrencies with a capacity to get alerts sent directly to your inbox.
Apart from the Cryptocurrency Price Alert, CoinMarketAlert comes with tools that also allow you to track the trading volume of a coin, price alerts whenever there is a spike in the market, and alerts that notify you whether your portfolio is making a profit or a loss. Check out our offers here to improve your crypto investment strategies.
This views presented in these articles are not an investment advice and only for informational purpose.
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