2020 has been a notable year for cryptocurrencies. Financial turbulence due to COVID-19 has led many to shift investments to the digital world.
Cryptocurrencies like ChainLink made headlines after exploding in popularity. Other projects have gained steam due to the emergence of decentralized finance (DeFi).
The last year has brought notable mainstream acknowledgment and acceptance of cryptocurrencies. The market capitalization of Bitcoin has eclipsed that of major companies like Coca-Cola.
Institutional demand and interest for virtual currency have seen an uptick across 2020.
The remaining months of 2020 are still filled with a lot of uncertainty. Many investors remain curious about coins and projects they should invest in to protect assets against volatility and take advantage of the surge of interest with virtual currencies.
Here is a list of 2020’s must buy cryptocurrencies.
Goldcoin:
Goldcoin is the first fractionalized gold-backed asset that is directly available for purchase in fiat currencies or other digital currencies. Investors are able to use GoldCoin to purchase any amount of coins backed by physical bullion.
Gold-backed cryptocurrencies have increased in popularity as they serve as a stable hedge against inflation. They provide buyers the opportunity to expand their investment portfolio to the digital currency world.
Every GoldCoin is fully backed by physical gold stored in secure vaults. Bullion is audited, and holders can view a live stream of the stored gold at any time. GoldCoin is a must-buy for 2020 due to the interest in cryptos backed by gold and the stability the coin offers in a volatile economic situation.
Bitcoin:
Some might be looking for a trendier choice than the flagship cryptocurrency. Bitcoin still rests as must-buy crypto for 2020. Bitcoin will be the biggest benefactor of the growing interest in digital currencies, as the coin still serves as a major ‘on-road’ for first-time investors.
The May halving of the cryptocurrency brought Bitcoin into headlines yet again. The event will lead to slower future supply growth, setting up the cryptocurrency for big gains across the rest of the year as demand increases.
ZCash:
Privacy when it comes to digital transactions is a major priority for those in the cryptocurrency community, and for that outside of the crypto world eager to escape the watchful eye of companies who track information.
ZCash’s pivot towards private mobile transactions should prove beneficial for the coin’s continued growth, especially as more people become comfortable with cryptocurrencies in a retail setting or use in the everyday world. So far, Zcash has positioned itself as one of the leading ‘privacy coins’ on the market right now – setting the coin up for growth as privacy concerns continue to be at the top of people’s minds.
Chainlink:
Chainlink has been one of the hottest cryptocurrencies in 2020. While some argue the coin has lost some stream, solid fundamentals and a great use case position the coin for continued growth.
Chainlink remains a must buy because of how it leverages blockchain and provides a gateway to foster broader adoption of smart contracts. This functionality addresses a major issue with smart contracts pertaining to external data connectivity.
Solving this issue will make many businesses much more at ease with adopting smart contracts, which should lead to a great amount of popularity for Chainlink and associated coins.
Ethereum:
If there is one cryptocurrency that has come close to the notoriety and popularity of Bitcoin, Ethereum is the choice. Ethereum serves as a base for a number of cryptocurrency projects.
The altcoin also makes it easy to conduct transactions in a secure and decentralized manner. Ethereum’s usability in constructing decentralized applications makes it a must-buy for 2020 since dApps are only growing in popularity.
Investors Are Turning To Cryptocurrencies In 2020
There are a number of factors leading investors to cryptocurrencies in 2020. The U.S. Dollar has seen an inherent drop in value due to the Payroll Protection Act (PPP) loans and other forms of financial assistance.
Institutional bank interest in cryptocurrency has also grown, fueled by a May announcement that JPMorgan was processing cryptocurrency transactions. Popular cryptocurrencies like Bitcoin and Ethereum will most likely always be a ‘must-buy’ due to their staying power. But fast-risers, like Chainlink and cryptocurrencies backed by gold, like GoldCoin, are also attractive options for investors eager to leverage portfolios and protect against economic turbulence.
