Cryptocurrency is attractive to first-time investors due to its low barrier of entry and potential to generate large returns. But while investing in cryptocurrency can be extremely rewarding, it can also be very risky. Not only is the digital coin market extremely volatile, but the very nature of cryptocurrency opens investors up to scams and theft. To help you decide on the best digital currency to invest in this year, we’ve compiled this list of the best and worst altcoins for 2019 and 2020.
The Best Cryptocurrencies for 2019-2020
Below, we’ll look at a few of the cryptocurrencies that are currently performing well and are likely to offer steady returns throughout 2019 and 2020.
Bitcoin remains the most popular cryptocurrency to invest in due to its price stability, widespread availability, and growing acceptance as a form of payment by retailers both on- and offline. The digital coin saw impressive gains in the first quarter of 2019, rising by more than 35 percent in the month of April alone. Investors can expect this growth to continue over the next few years as more online retailers, bricks-and-mortar shops, and even restaurants allow customers to pay for products and services with Bitcoin. Bitcoin is listed on every cryptocurrency exchange and is generally considered one of the safest cryptocurrencies to invest in.
Basic Attention Token (BAT)
What sets Monero apart from other blockchain projects is its focus on privacy. Investors’ information is encrypted using a fresh codebase that renders transactions virtually untraceable. It’s growing user base and market cap make Monero a less risky investment than other altcoins. As of the time of this writing, Monero trades at $82.16 USD.
Ripple is a lightning-fast payment settlement network that facilitates international money transfers at lower costs than conventional banking systems like SWIFT. As such, it is well positioned to become the first digital currency used by traditional financial institutions around the world. Ripple is currently one of he most stable cryptocurrencies, making it an excellent choice for the risk-averse. Prices for one coin fluctuated between $0.28 USD and $0.38 USD per coin during the first quarter of 2019, so if you want to get into cryptocurrency trading without making a large monetary investment, this altcoin is definitely worth a look.
Cryptocurrencies to Avoid for 2019-2020
While most cryptocurrencies are expected to experience growth over the next few years, there are some coins that are expected to perform worse than others. Below are some of the altcoins to avoid investing in, based n our forecasts.
Bitcoin Cash (BCH)
Bitcoin Cash’s value plummeted at the end of 2018 following a rivalry between two miners that saw the blockchain split into two separate cryptocurrencies (Bitcoin Cash and Bitcoin Cash SV). The altcoin’s price is down 93 percent in 2019 after having reached a peak of $1.33.
The IOTA blockchain was launched with the goal of being the “next generation of distributed ledger technology,” but so far, the project has failed to deliver on its promises. IOTA is down 91 percent in 2019, and the outlook for the rest of the year looks dismal-the cryptocurrency Johan’s lost around $120 million of its total market share since the beginning of the year.
While ICON had a promising start, it has failed to gain a foothold in the cryptocurrency market. The coin’s value dropped 96 percent last year, and while it has recovered somewhat in 2019, it continues to lag behind other cryptocurrencies. ICON currently trades at $0.35 USD, a far cry from its all-time high of $12 per coin.
The Bottom Line
While Bitcoin continues to outperform other digital currencies, other altcoins can and should make up a significant portion of your cryptocurrency portfolio. Diversifying your investments in this way will offer you some degree of protection if one coin experiences some price volatility. While no forecasting system is 100 percent accurate, the altcoins we’ve recommended above show the most promise for steady returns in 2019 and beyond.