Top 5 altcoins to make profits on in 2020
In the article, we will tell you about 5 highly volatile altcoins available on Binance.
Cryptocurrency trading is a good way to benefit from the price movements of an asset. The volatility of digital currencies is still quite high — the daily swings can reach up to a few percents, which can be turned into a decent profit.
One of the most famous places for active trading is the Binance exchange:
- Its trading volume exceeded $600 million in 2019.
- There are a variety of coins (ranging from the top ones to little known altcoins).
- It is one of the most protected exchanges, which is looked up to by others.
All eyes have been on Bitcoin. The majority of traders working on Binance and the rest of the crypto community are focused on Bitcoin.
Although, in some regards, altcoins are not only as good as Bitcoin but also superior to it. Here is a list of the most perspective altcoins you can make a decent profit on.
Ethereum (ETH)
Ether coins are the most revolutionary coins ever. They appeared in 2016, and as soon as in 2017, they managed to outshine Bitcoin for a short period of time.
For the 4 years of existence, the price of Ethereum has become 1500 times higher. It headed the lists of perspective digital coins of the future on many occasions. Allegedly, the largest world giants Apple, Google, and Microsoft purchased it.
The creator of the coin, Vitalik Buterin, sees Ether not only as a means of payment but also as an ecosystem for developers. That’s why Ethereum is used to create blockchain-based web-services.
The coin stands out with its volatility in 2020. For the last couple of months, its price has been constantly changing in the range from $122 to $299, which enables profiting on both bull and bear markets.
ChainLink (LINK)
ChainLink is a project launched in 2017 by SmartContract, an American company. It is an application based on blockchain which provides external data for smart contracts. Link is a native virtual currency of the software, which means that the more popular the company’s product gets, the more expensive the coin will be.
SmartContract is cooperating with SWIFT, a global company providing secure financial transactions. It aims at easy to achieve yet relevant goals that make its cryptocurrency potentially successful.
As for the range of its price fluctuations, it is from $1.7 to $4.97 in the first months of 2020.
Bitcoin Cash (BCH)
BCH is a Bitcoin’s fork that appeared in 2017.
Due to a minor modernization of the code, the speed of transactions increased, which launched Bitcoin Cash to the top 3 cryptocurrencies of the world regarding capitalization. Later, the coin was supported by Rodger Ver.
Bitcoin Cash has good perspectives due to the following features:
It provides fast anonym transactions with little fees;
The underlying technology is proven.
It has good chances of replacing the leader in case of a Bitcoin’s failure.
Let’s not forget about the incredibly fast pumps and dumps of the coin. A daily session can contain price swings reaching up to 10–30%
As the picture shows, the range varies from $182 to $498.
BNB
Binance Coin (BNB) is a native coin of the Binance exchange. It was initially designed to charge fees in, but for now, it is represented on other exchanges and used as a means of payments.
The currency will be in demand because the exchange is popular and will hardly be abandoned. Moreover, the creators announced that they are going to gradually buy half of the emission up, which is also heating up the interest in the altcoins (you unconsciously want to have something that is in short supply).
It was worth $12 at the beginning of the year but surged up to $27 after a couple of weeks. The all-time high of the coin is $38. Therefore, it is recommended to pay attention to the coin!
Litecoin (LTC)
Litecoin is the oldest alternative crypto on the market and the first substitute for Bitcoin. Initially, LTC was moving in lockstep with Bitcoin, falling and growing. But then Litecoin had been stagnated around $4 level for a long time.
Investors view the cryptocurrency as a mini version of BTC. However, the altcoin offers superior speed of transactions and lower fees.
Even though the capitalization of LTC is losing out to other currencies, Litcoin has the following advantages:
- An active team of developers headed by a powerful leader, Charlie Lee;
- The status of the oldest altcoin.
It will help the coin to stay in trend for years.
Trading the altcoins on Binance, you can make good profits.
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