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Which Are The Top Digital Currencies In
2020?
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In this contemporary era
of the tech-savvy world,
we often experience the
emergence of new
technologies with new
unique features, which
sets them apart from the
old technologies which we
have been familiar with so
far. Cryptocurrency is one
such example of new
digital technology that
created a wave among
millions of people all over
the world.
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● Now it has been decades since these cryptocurrencies have seen so many
ups and downs in their prices. Today, we are going to list some of the top
digital currencies in 2020 according to the cryptocurrency market ranking
chart.
● Many industry experts questioned about these new financial technology
inventions and studying about crypto coin market, now deeply think about
its future as an investment asset. Though some skeptics doubted about its
long term existence due to factors like volatility and money laundering.
There are serious risks involved in this new decentralized financial platform,
but every technology has its pros and cons. So better adhere to preventive
measures to save yourself from money loss.
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● If you are abreast of the latest crypto news, some companies are not
convinced with the authenticity of cryptocurrency and have taken the step
to ban its use. However, it does not affect its popularity and has been
accepted by big companies like Shopify, and JP Morgan.
● This indicates the rising growth of cryptocurrency in fiscal society. Now there
is a curiosity among many crypto enthusiasts and investors, to know about
the top digital currencies in 2020, which are dominating the market.
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Top Digital Currencies In 2020
● So coming up with the top digital currencies in 2020, here is the list topping
with:
Bitcoin
Topping the list is none other than the foremost cryptocurrency, Bitcoin. This
worldwide digital currency was launched in the year 2009 by Satoshi Nakamoto
on 3rd January. The stories of Bitcoin millionaires which also included the name
of Akshay Haldipur, an Indian Bitcoin millionaire, states the example of Bitcoin’s
forefront status in the market. According to its whitepaper, it eliminated the
role of middleman and central authorities like government and banks.
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Litecoin
● If you have been following altcoin news, then you must be aware of Litecoin,
a hard fork that caused a split of Bitcoin in two parts. The major difference
that sets Litecoin apart from Bitcoin is its timing of the transaction, which is
four-time speedier than the latter crypto coin (Bitcoin).
● Besides this, Litecoin also has around 25 block rewards exceeding much to
Bitcoin’s block which is 12.5. So it makes it worthy cryptocurrency in the list
of top digital currencies in 2020.
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Ripple
● Another name that joins the list of top digital currencies in 2020 is Ripple.
This cryptocurrency was launched as an alternative option for cash and is
much preferred by business institutions, instead of individuals.
● It is hardly a matter of a few seconds in sending Ripple coins from one wallet
to another wallet. But contrary to its rival crypto coins, it differs from them
for following on a centralized process. You need to know that the supply of
XRP is monitored by Ripple Labs.
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Monero
● Although the process of mining in Monero is very snail-like in comparison to
its rival crypto coin, Bitcoin, its algorithm is efficient enough to target the
maximum user base.
● The major reasons that have led to Monero get listed among the top digital
currencies in 2020 are promising features including privacy and security that
helps to keep transactions concealed and free from getting traced. The use
of cryptography also becomes a benefitting factor in saving addresses
(sending and receiving) and amounts that are transacted.
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Ethereum
● Ethereum who came much after Bitcoin in 2015, is popularly considered as
the next best competitor to the latter coin. Where Bitcoin works on the P2P
digital concept, Ethereum, on the other hand, adheres to smart contract
applications. If Bitcoin is in the list of top digital currencies in 2020, then how
can Ethereum be left behind.
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Conclusion
So these are some of the top digital currencies in 2020. In today’s new
economic scenario, cryptocurrency has set a new trend in being a
decentralized mode of finance and an alternative to traditional
currencies. There might be differences in opinions by people, experts, or
even countries that have banned the trading of cryptocurrencies.
However, it has no effect on its popularity and is widely welcomed by big
corporate organizations for digital transactions daily.
Sources
https://www.cryptoknowmics.com/news
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