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Investing in the Crypto industry does not mean just Bitcoin! 

Yes, for those who have been a part of the ecosystem for long have been earning mainly through trading with Bitcoin but after the success of Bitcoin, other altcoins or alternative coins were introduced. 

Presently with so many altcoins existing in the industry it is important to understand which are the best investments or the most promising altcoins for 2020 and beyond.

Despite the new international protocol of cryptocurrency devaluation in 2019, some coins still have the potential to go beyond the barriers.

In drawing up the list, we have not considered the current indices owing to its volatility but we have considered parameters like liquidity, market cap and the most important – innovation!

Would you like to see our top 6 as much as we are optimistic about showing you?

The top 6 list of promising altcoins

Ethereum(ETH)

Ethereum has had an eventful last year with a few technical hiccups in its way but an overflow of innovative ideas.

Unlike Bitcoin, Ethereum is based on smart contracts used by top projects for the digitization of their transactions.

A predominant role in the success or failure of Ethereum depends on its fork updates and longevity of the Proof of Stake algorithm.

The chief principles behind the development are modularity, simplicity, agility, and non-discrimination. Smart Contracts have become a significant aspect of the blockchain ecosystem.

It managed to attract several app developers to the protocol resulting in many DApps (Decentralised Applications) being supported by the protocol.

The platform has already contributed significantly but there is still room for improvement.

After Bitcoin, Ethereum is arguably the second-most widely used cryptocurrency despite issues around ETH 2.0 and the recent FUD.

The year 2019 saw the emergence of Decentralized Finance (DeFi) with almost all projects based on Ethereum technology.

Many financial services offering borrowing and digital assets like Compound Finance or MakerDAO have contributed a lot to the DeFi ecosystem presently showing consistent double-digit growth.

At present, the community is eagerly waiting for ETH2 upgrades that will ensure that Ethereum is the blockbuster crypto of tomorrow’s innovative financial product.

It has a huge potential to rise from its current position, almost cementing its position for being the best altcoin for 2020.

Besides crypto trading

• Ethereum is also gaining visibility in gambling space as well. Players bet their Ether to earn more of it. 
• Even future artists are riding on the bandwagon of Ethereum through a web platform called Ampliative Art providing artists with the change to showcase their work. Artists and users can earn rewards through donations, tips, and comments. 
• WeiFund is yet another venture that is being developed on the Ethereum ecosystem and as a crowdfunding platform, its experience is similar to the best solutions likeGoFundMe, Kickstarter, etc. 

Where to buy ETH: Coinbase, Binance, Kraken, etc

Binance Coin (BNB)

BNB was launched in 2017 ICO as a move to flex the Binance Exchange platform.

Binance is a worthy competitor of the titans offering competitive rates in the market. When it was launched the platform received positive reviews from the community.

Binance has managed to acquire a global presence with users spread in every part of the world. Binance coin is not showing any signs of stopping with tremendous growth figures and statistics to understand its current dominance in the market. 

Besides crypto trading

Looking at the bigger picture, the Binance coin has shown greater worth with use beyond the Binance exchange. Over the course of the year, various uses of BNB has erupted. 

• One example of a real-world application for BNB is its recent investment in the Australian Start-up TravelbyBit which has equipped more than 150 concerns including the Brisbane Airport with the ability to pay using BNB. The partnerships will unravel the use of BNB on all TravelbyBit-affiliated merchants. 
• Over the past one year, BNB was used for withdrawing cash on crypto ATMs via Zelaacoin and securing loans through Nexo. 
• BNB also can be bought on crypto-based social media network Investfeed through API integration.
• It has also been used as a gift token on live streaming service Uplive. Social media influencers also have earned BNB by being famous on certain social media platforms.
• Binance exchange platform has also mushroomed beyond trading with Binance Charity It the world’s first blockchain-powered donation campaign dedicated to transparent philanthropy. At present, it is aggressive in raising funds of COVID-19 pandemic globally.

Where to buy BNB: Binance, Binance US, Bit-Z etc

ChainLink (Link)

ChainLink’s ICO was held in September 2017, with recorded earnings of $32 million USD with the distribution of 350 million LINK tokens. 

Chainlink has already ruled our hearts by being declared as one of the best performing cryptocurrency in 2019.

What Chainlink does is a bit offbeat because it links smart contracts to external off-chain and real-world data. Most of the blockchain platforms that thrive on external data, make use of this exclusivity offered by ChainLink.

Obviously this is an attractive proposition to several platforms making its MarketCap grow beyond $1 billion!

It has two main architectural components namely on-chain infrastructure and off-chain infrastructure that bridges the gap between on-chain smart contracts and off-chain businesses and data.

Presently ChainLink interfaces with Smart Contracts on the Ethereum blockchain and aims to function with multiple networks in the future.

Besides Crypto trading

• Its partnership with SWIFT is the most notable of all. It connects 11,000 financial bodies globally as a widely accepted network related to payments and securities. 
• Its coveted partnership with LinkPal, a decentralized escrow application using smart contracts was done to support P2P trades between ETH, PayPal without counterparty risks.
• Smart Marketing campaigns use smart contracts for payment automation to marketing agencies through ChainLink oracles. 

Where to buy LINK: Binance, Binance US, Coinbase etc

TomoChain (TOMO)

In the period between 2010 – 2013, blockchains suffered from a lack of scalability and interoperability.

But everything changed with TomoChain which was designed to assist platforms like Ethereum to reduce issues arising out of scalability and interoperability.

Scalability and interoperability are extremely crucial to realize blockchain potential.

One of the major functionalities of blockchain is to change the financial systems across the world.

But major blockchains like Ethereum can only process 15 transactions per second. Compare it with Visa and Mastercard which process 6,000 transactions per second!

TomoChain knows it is doable and has introduced sharding and stake voting solutions to overcome these problems. The result would be an execution of 5,000 transactions per second and given its potential, it can reach 20,000 transactions per second also!

TomoChain is promising with the only thing lacking is its efforts to make its presence feel. It has a great idea, but it needs to be promoted well. 

Besides Crypto trading

• WisePass, a lifestyle membership App provides services from more than 300 restaurants, hotels, and bars. The platform accepts TOMO token as a form of payment. 
• Constant is a cryptocurrency lending platform that accepts TOMO as collateral.
• NOIA Network, a distributed content delivery network startup would issue NOIA tokens on TomoChain

Where to buy TOMO: Binance, KuCoin, Hotbit etc

Ripple (XRP)

Ripple is both a platform and a currency. It is an open-source protocol meant to allow cheaper and faster transactions.

Ripple has every quality to rule the international circuit. The platform has its own currency (XRP) but also allows everybody to use the platform to create their own via RippleNet.

XRP serves as a mediator for both cryptos and fiat exchanges. Unlike Bitcoin or Ethereum, it doesn’t have a blockchain.

For the purpose of running and verifying transactions, it has its patented technology called the Ripple Protocol Consensus Algorithm (RPCA). Ripple surely has the potential to move up notches in 2020. 

Besides Crypto trading

It has launched a formal social impact program called ‘Ripple for Good” which pooled $25 million with about $80 in donations to invest in education and financial inclusion.

Ripple has always looked at focusing their charities on educational programs in the field of science, technology and FinTech.

It has already contributed to blockchain and fintech education by donating $50 million to 17 universities globally as a part of the University Blockchain Research Initiative. 

Where to buy XRP: Binance, Binance US, Coinbase etc

MXC

MXC’s foremost focus is on data exchange in the decentralized ecosystem.

It has a wonderful team of experts working to become the largest IoT data exchange platform ever! The team has created a unique platform that serves as a ground to collect, store and monetize data in a rapidly efficient manner without sacrificing security.

MXC uses LPWAN technology for executing the data flow protocols. Data innovation gives MXC the strategic edge to remain relevant and popular in 2020 and beyond. 

Besides Crypto trading

MXC has already begun the implementation of Smart Cities, the new standard of data flow for major cities worldwide.

The initiative will see MXC becoming the most valuable cryptocurrency in the exchange market.

MXC has made some encouraging partnerships but it still needs to partner more cities to heighten its presence at a global level.

Where to buy MXC: Huobi, Gate.io, etc

Conclusion

Despite their flaws, these altcoins are arguably the best you will find. In a matter of time, innovation and flow of ideas have helped these platforms and coins to excel and surpass their history.

It is important to put your money where the future is and these altcoins represent great ideas making them sturdy investments for 2020 and after that.

As always this post is meant to be educational and provide insights into this growing market and new exciting projects.

Do you agree with the cryptocurrencies chosen here? Or do you have another favourite? Care to share that with us and let us know why you think it has a lot of potential?

Source: https://gocryptowise.com/blog/6-most-promising-altcoins-for-2020/