Connect with us

Blockchain

Thinking beyond Bitcoin – 6 most promising altcoins for 2020

The post Thinking beyond Bitcoin – 6 most promising altcoins for 2020 appeared first on Go Cryptowise.

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 […]

The post Thinking beyond Bitcoin – 6 most promising altcoins for 2020 appeared first on Go Cryptowise.

Republished by Plato

Published

on

Some of our posts may have affiliate links including this one. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about it read our Disclosure page

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 logo

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)

Binance Coin logo

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 LINK token

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)

TomoChain logo

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 logo

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 cryptocurrency logo

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/

Blockchain

Another One: Galaxy Digital and CI GAM to Launch a Bitcoin ETF in Canada Tomorrow

Republished by Plato

Published

on

Yet another Bitcoin ETF is to reach the markets in Canada as the country’s securities regulator has issued “a receipt for the final prospectus” for CI Global Asset Management’s application. Dubbed CI Galaxy Bitcoin ETF (BTCX), it’s expected to launch on the Toronto Stock Exchange (TSX) on March 9th, and Mike Novogratz’ Galaxy Digital Capital Management will act as the sub-advisor. 

  • Founded in 1965, CI Global Asset Management is an asset manager with over $180 billion in AUM as of January 2021. The firm announced the nod of approval received from Canada’s securities regulator necessary to launch its own Bitcoin ETF earlier today. 
  • The statement described BTCX as a tool that could “provide investors with a convenient way to gain exposure to bitcoin through an institutional-quality fund platform.” It will invest directly in the primary cryptocurrency with its holdings priced using the Bloomberg Galaxy Bitcoin Index. 
  • CI GAM will serve as the manager of the ETF, while Galaxy Digital Capital Management, whose founder and CEO is the long-time BTC proponent, Mike Novogratz, will act as “the bitcoin sub-advisor.” Meaning, that GDAM will execute the BTC trading on behalf of the ETF 
  • “We believe the emerging digital asset class presents compelling growth and diversification opportunities. The CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin.” – commented Partner and Head of Asset Management at GDAM, Steve Kurz. 

  • Apart from BTCX, the two parties have also filed for launching the “first ETF in the world to invest directly in Ether” – CI Galaxy Ethereum ETF (ETHX). 
  • It’s worth noting that BTCX would not be Canada’s first Bitcoin ETF. CryptoPotato recently reported the first approval for the Purpose Bitcoin ETF, which enjoyed a highly-positive start, accumulating more than $400 million in a few weeks. 
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://cryptopotato.com/another-one-galaxy-digital-and-ci-gam-to-launch-a-bitcoin-etf-in-canada-tomorrow/

Continue Reading

Blockchain

Ethereum, Monero, FTX Token Price Analysis: 08 March

Republished by Plato

Published

on

Ethereum recaptured a key resistance mark at $1,687, a level that had not been breached since the broader market pullback in late-February. Monero lacked the trading volumes and buying intensity to flip the 38.2% Fibonacci retracement level. Lastly, FTX Token eyed a rise above its overhead resistance but the indicators presented the chances of a short-term reversal.

Ethereum [ETH]

Source: ETH/USD, TradingView

Ethereum retook the $1,680 level from the bears thanks to a surge of 6% in the last 24 hours. Gains in the last eight days amounted to over 30% and underscored ETH’s bounce back from the $1,300 level. The On Balance Volume showed strong buying at two key support levels – one at the $1,300 mark and the other at $1,437 as the price headed northbound on the charts. However, the OBV made steady highs over the past few sessions and even dipped at the time of writing.

The RSI pointed lower from just below the overbought zone and showed weakening bullish strength in the market. This reinforced the idea that a hike in trading volumes could be needed before steering clear of the next test at $1,834.9 and especially if the uptrend were to sustain itself.  In the event of a pullback, the newly flipped resistance at $1,687.65 could act as a crucial line of support.

Monero [XMR]

Source: XMR/USD, TradingView

Low trading volumes and short-bodied candlesticks on Monero’s 4-hour chart showed a dearth of interest in the market but the bulls still held on to the 23.6% Fibonacci retracement level. A breakout above the 38.2% level could depend on stronger cues from the broader market, which would spur buying in the Monero market as well.

The ADX pointed lower and towards the 10-mark, showing a lack of a strong trend. The flow of capital towards the cryptocurrency created some optimism, but the price remained within its channel even as the CMF rose sharply above the half-way mark. The index reversed direction and pointed towards the half-line at the time of writing.

FTX Token [FTT]

Source: FTT/USD, TradingView

The Bollinger Bands on FTX Token expanded at press time and showed rising volatility as the price looked to flip $31.49 resistance. The presence of volatility allowed for large price swings and a break above the upper ceiling looked imminent over the coming sessions. Even though the Stochastic RSI traded in the overbought region, it pointed upwards after retesting the upper line and indicated a delayed stay in its current region.

However, there was also a possibility of a short-term pullback due to saturation in the market. A fall below the press time support level would highlight the next line of defense at $24.67.


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://ambcrypto.com/ethereum-monero-ftx-token-price-analysis-08-march

Continue Reading

Blockchain

Norwegian energy firm Aker’s three-pronged approach to Bitcoin

Republished by Plato

Published

on

Energy company Aker ASA, which is based in Oslo, Norway has established a dedicated firm to invest in the Bitcoin ecosystem and related projects. Dubbed ‘Seetee AS,’ this new venture has a capitalization of $58 million and will invest Aker’s liquid assets in the digital currency. 

Øyvind Eriksen, President and CEO of Aker stated that Seetee’s launch will help the Aker Group gain industrial opportunities “that will be unlocked by Bitcoin and blockchain technology.” He further said in a statement: 

These technologies [such as Bitcoin and blockchain] have the potential to reduce frictions in our day-to-day lives, enhance the security of our digitally-driven economies, and unlock new business models for innovation. 

In a letter to investors, Chairman Kjell Inge Røk­ke revealed Seetee’s three-pronged approach to Bitcoin, which is al­ready run­ning “open-source Bit­coin pay­ment servers.” According to Røk­ke, the oil and gas firm will work alongside Canadian crypto-focused firm Blockstream and other partners.

Aker Group expects See­tee to set-up min­ing op­er­a­tions even though the local government no longer offers electricity subsidies to miners. However, the group’s  am­bi­tion is to be “a valu­able part­ner in new re­new­able projects:”

See­tee will es­tab­lish min­ing op­er­a­tions that trans­fer strand­ed or in­ter­mit­tent elec­tric­i­ty with­out sta­ble de­mand lo­cal­ly—wind, so­lar, hy­dro pow­er— to eco­nom­ic as­sets that can be used any­where. Bit­coin is, in our eyes, a load-bal­anc­ing eco­nom­ic bat­tery, and bat­ter­ies are es­sen­tial to the en­er­gy tran­si­tion re­quired to reach the tar­gets of the Paris Agreement. 

Finally, Aker is keen on mi­cro­pay­ments and how it could en­able the firm to avoid users’ per­son­al data be­ing mon­e­tized. Røk­ke further said: 

I’m fas­ci­nat­ed by the prospect of bitcoin Light­ning wal­lets that may en­able in­stant cred­it via mi­cro­pay­ments with­out the need to of­fer per­son­al in­for­ma­tion that my coun­ter­part can mon­e­tise with­out ap­proval or com­pen­sa­tion.

The Chairman also was bullish on Bitcoin and expects the asset to trade for “millions of dollars.” He believed that peo­ple who “know the most about Bit­coin” be­lieve its fu­ture suc­cess is “near­ly in­evitable.”


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://ambcrypto.com/norwegian-energy-firm-akers-three-pronged-approach-to-bitcoin

Continue Reading
Blockchain3 days ago

How to Protect Yourself from the Cryptojacking Threat

Blockchain5 days ago

Will Netflix soon buy bitcoin?

Blockchain4 days ago

Experts divided on BTC predictions: Bullish or super bullish?

Blockchain4 days ago

BitGo To Introduce Crypto Custodial Services To New York Clients

Blockchain4 days ago

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

Blockchain3 days ago

Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments

Blockchain5 days ago

3 key Ethereum price metrics show pro traders are aiming for $2K ETH

Blockchain4 days ago

Ethereum gas fees drop as daily DEX and DeFi volumes decline

Blockchain4 days ago

XRP Price Analysis: 04 March

Blockchain4 days ago

Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s

Blockchain4 days ago

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

Blockchain3 days ago

Thailand’s largest movie theater chain accepts Bitcoin

Blockchain3 days ago

Decentralized Companies Are the New Norm and It’s the DAO Revolution That’s Making It Possible

Blockchain4 days ago

Bitcoin HODL Waves Suggest Bull Run Has Barely Started

Blockchain4 days ago

Co-founder of Floyd Mayweather-promoted ICO sentenced to 8 years

Blockchain3 days ago

Binance Coin, Neo, Enjin Price Analysis: 05 March

Blockchain4 days ago

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

Blockchain3 days ago

Blockchain Association meeting with key Biden staff about regulations

Blockchain4 days ago

Aave vs. Compound: Which DeFi Lending Platform is Better?

Blockchain3 days ago

Ripple’s Asia expansion unaffected by SEC lawsuit, says CEO

Trending