There are over 2,000 cryptocurrencies in the market today. This high number means that if you're new to the community, it could be quite challenging to choose the best cryptocurrency to invest in now. Should you judge based on price, market cap, market sentiment, or be led by intuition? It can get confusing!
Nonetheless, let's point you in the right direction to the best cryptocurrency to invest in 2019. Our choices are based on several factors ranging from the most popular, ongoing projects, as well as the next big cryptocurrency in 2019.
Outlined below are some of the best crypto assets you should give much consideration if you're looking to dip your feet into the crypto space. Even if you've done so already, but still need to diversify your wallet, consider the following assets:
1. Bitcoin (BTC):
Bitcoin is the largest cryptocurrency based on its $187 billion market cap today. It is presently the most valuable, and also the crypto-asset with the highest liquidity. Bitcoin is globally adopted; also widely used in paying for goods and services, online and offline. Several reputable companies worldwide are accepting payments in Bitcoin. These use cases have led to an increase in value from $0.08 in July 2010 to $10,400 today.
Bitcoin's limited supply has been a major driving force for the crypto asset, driving its value up 1000x. Besides, the asset is decentralized, a point that gives it an edge over centrally controlled assets. The bottom line is, if you're looking for a coin that could yield immense returns (long term), then you should consider investing in Bitcoin. Remember, the next Bitcoin halving is in May 2020 which could see the asset's value soar even more.
2. Ripple (XRP):
Ripple, the blockchain company behind XRP, is continuously partnering with banks and other financial institutions across the world. These banks have adopted XRP to facilitate cross border payments, and as such, it could potentially impact on XRP's price.
Several crypto analysts in 2019 have opined that XRP could overtake BTC to become the next reserve currency. In their opinion, people are more willing to spend XRP, unlike BTC, which is hodled. If there's the slightest chance for their prediction to come true, you'll be on the better side to have bought XRP today.
3. Litecoin (LTC):
Litecoin was launched in 2013, and it is the fifth-largest cryptocurrency. Litecoin is a fork of Bitcoin since its code was copied from the latter. The asset strives to be the silver to Bitcoin (gold). Like Bitcoin, Litecoin is a decentralized cryptocurrency and it's limited in supply. Its most recent halving event on August 5, 2019, saw the block reward to miners decrease from 25 LTC to 12.5 LTC.
Therefore, fewer LTC circulating in the market can do a lot of good for its price. It's remarkable that Litecoin is less expensive than Bitcoin and as such if you're looking for a cheap cryptocurrency with high potential, this could be it. Its blockchain boasts of a 2.5 minutes transaction confirmation time which is faster than BTC's 10 minutes.
4. Binance Coin (BNB):
Binance coin is the native asset of Binance cryptocurrency exchange. BNB is used to pay transaction fees on the exchange, which has impacted its price positively. Binance is also in the habit of burning BNB tokens (out of the 40 percent of the total BNB supply held by the BNB team) quarterly in a bid to promote BNB's scarcity and spike the asset's price.
There are also plans that BNB will be used to pay gas fees on Binance Chain just like ether on the Ethereum network. This and many more have contributed to BNB's surge from $6 in January, to about $31 in July of 2019.
5. Ethereum (ETH):
Ethereum is one of the top 10 cryptocurrencies to invest in 2019. Ethereum co-founder Vitalik Buterin had also proposed adopting a Proof-of-Stake algorithm with higher staking rewards. The reward will enable loyal holders of ETH to earn more tokens just by holding their ethers. This incentive will create scarcity, thereby influencing the asset's price, positively.
On the other hand, over 20,000 ERC-20 tokens run of the Ethereum main network with more surfacing daily. Ethereum also comes in third for the network with the highest number of dApps (decentralized apps) running on its platform. The fact that liquidity is not a problem makes it a top choice as Ethereum seems to be quite easy to buy and sell on major exchanges.
These are the top cryptocurrencies to consider investing in now. These projects have been ongoing for years, and the potential for their growth is high.
Note: This Piece Of Information You Read Should Not Be Regarded As An Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.