Do you want to know the list of the best alternative digital currencies for 2020? Before knowing which digital coins to invest in, it is important to understand why they are profitable investment assets for the future.
The main intention behind cryptocurrencies is to provide a democratic model of the financial system that can eliminate the third party so that transactions can be faster and less costly. Due to the decentralized feature of blockchain technology, any middle man can’t intervene in financial transactions among two agreeing parties.
However, the crypto space has got many rejections due to fraud and scams. But those activities have now significantly reduced and the government of different countries is not accepting cryptocurrencies. Due to the lower cost, faster transaction, transparent, and a liberating financial system, experts predict that cryptocurrencies have a bright future.
Anyway, choosing the best digital coins from thousands of cryptocurrencies is a tedious task. In this article, you will find the top 6 alternative digital coins for investment in 2020. Before that, understand what is alternative digital coins.
Alternative Digital Coins
Alternative digital coins are nothing but the cryptocurrencies other than bitcoin. As bitcoin was first invented and the most valued and trusted cryptocurrencies, it is considered as the original digital coin, and others are considered as alternative coins or simply altcoins. Well, here are some of the best altcoins that you may consider investing this year.
Top 6 Altcoins for Investing in 2020
No doubt, you should invest some part of your capital in bitcoin but altcoins also have great potential and these can be used to manage your risk while bitcoin is not performing well. Here is the list of top 6 best alternative digital coins that you may invest in 2020.
- Ripple (XEC)
- ZCash (ZEC)
- Chainlink (LINK)
- Basic Attention Token (BAT)
- DxChain Token (DX)
- Synthetic Network Token (SNX)
Read on to know why you should invest in these alternative coins and why these coins have a bright future.
- Ripple (XRP)
Ripple is one of the major alternative coins and it is mainly popular for financial transactions across the globe. This is the best crypto network that banks and other financial institutions are using for cross border transactions. As global transactions are growing, the demand for Ripple will also be growing. So investing in Ripple in 2020 can be highly profitable in the future.
- ZCash (ZEC)
ZCash is one of the major alternative digital coins which have a great future value. The main feature of this digital token is the privacy feature. As cryptocurrencies are meant to be providing high privacy, investors are looking for crypto coins that offer good privacy features.
As Zcash is one of those top altcoins which provide higher privacy, it is going to be one of the best picks for investment in 2020. Cryptocurrencies have gained high popularity due to decentralization, faster transaction, and transparency. Now te importance and need for privacy have grown, so crypto coins that have good privacy features will have a bring future.
- Chainlink (LINK)
Chainlink is one of the best alternative coins which leverages the disruptive technology blockchain to provide smart contract solutions. As the demand for smart contracts is growing, the value of Chainlink will also grow in the future.
- Basic Attention Token (BAT)
This is quite different from the above cryptocurrencies. The alternative coins serve a different purpose than other altcoins, it is trying to realign the digital ad network with advertisers with consumers. This is the best alternative coins for supporting digital ads. As the advertising industry is growing, the demand for this coin is also growing. So investing in BAT is also profitable. In the future.
- DxChain Token (DX)
DxChain Token is a great investment digital asset for 2020. This is going to provide innovative data computation, cloud storage, and data privacy. As data analysis has high demand, DX will have a great future.
- Synthetic Network Token (SNX)
Synthetic Network Token provides an innovative solution to the world. This virtual currency is focused to bridge the gap between traditional currencies and cryptocurrencies in the Ethereum network.
Finally, if you want to invest in the above alternative coins then choose a secure trading platform to analyze price charts of different currencies and invest.