Altcoins may actually be the future of cryptocurrencies. I’m not a big fan of Bitcoin but I respect it for being the pioneer among all cryptocurrencies and introducing the blockchain technology to us. Most of the top altcoins have faster transaction speeds and more features compared to Bitcoin. Here’s my prediction on three altcoins that may thrive in the year 2020.
Disclaimer: These are only my predictions and they may be wrong. Always do your own research before investing into any cryptocurrencies. Furthermore, cryptocurrencies are very volatile in general, so do not invest more than you can afford!
Without a doubt, Steem is one of my favorites, if not my favorite altcoin. That’s simply because it has the possibility or potential to go really mainstream, like how Facebook, Instagram and Twitter are now household names.
Steem is a token that runs on the Steem blockchain, and it was founded by Dan and Ned. They formed Steemit, a platform for content creators to actually make money in the form of Steem. That said, Steemit is just a front end and there are other platforms running on the same blockchain like Busy.org and ChainBB. Steem can be traded for Bitcoin and eventually for fiat money. If you’re not sure what Steemit or Steem is, do read this article.
There are plenty of concepts to understand for those who are new to Steem and especially to cryptocurrency in general. Once you get it, you’ll understand why it may be the future of social media, or rather social media 2.0. I won’t go over all of the concepts or how Steem works as it’s all in the article linked above.
Steem may even be more mainstream because of the recent announcement that they’re introducing Smart Media Tokens! Smart Media Tokens allows companies or individuals to create their own tokens on the Steem blockchain. It can be used in their businesses or even be used for crowd funding. There’s so much hype about this right now, and it’s not released yet. Tentatively, it will be released early next year. Here’s the White Paper on the Smart Media Tokens. It’s 50 pages long so do take your time.
I see a lot of potential in the Steem blockchain and with a transaction speed of 3 seconds, I don’t see why it shouldn’t succeed in 2020.
Ark claims to be able to create a Smart Bridge technology whereby it connects all different blockchains. For e.g. you can link between the Ethereum blockchain and the Steem blockchain or the EOS blockchain directly. You don’t have to go through exchanges just to trade your tokens for another. At least that’s the vision.
Here’s why I think Ark has a lot of potential to thrive in 2020.
- It has a very fast transaction speed of only about 8 seconds. I once withdrew my Ark from Bittrex and in a matter of seconds I received it in my Ark wallet. It’s so much faster than Bitcoin.
- If they’re successful in their bridging technology, Ark will become a huge ecosystem connecting all blockchains. How cool is that?
- It is decentralized and voting weight is equally distributed across all votes.
- It has a huge team of experienced developers. You can read my article on Ark here.
Ethereum is well known for its smart contracts and also for allowing others to use the Ethereum blockchain to create their own tokens. It will compete with Steem’s Smart Media Tokens and Bitshares as well.
Ethereum is already valued really high in 2017, i.e. around $200 – $400 in 2017. It may go up higher if Bitcoin drops, or if cryptocurrency becomes even more mainstream.
Here are a few reasons why Ethereum may do even better in 2020:
- The smart contracts introduced by Ethereum is ground breaking. It has the possibility of replacing the traditional legal contracts or regular contracts between companies.
- The Ethereum blockchain makes it easy for developers to start their own tokens. As more people use Ethereum to start their token, it’s not surprising that the value of Ethereum increases. That’s because all tokens running on the Ethereum network are required to pay a cost of performing computation on the Ethereum network (aka gas).
- If the mainstream realizes the value of Ethereum over Bitcoin, it may skyrocket since everyone fears of missing out on it.
Other potential altcoins
- Funfair – it disrupts online casinos
- OmiseGo – an already functioning system for ecommerce in Asia
- NEO – China’s version of Ethereum
- IOTA – the only token not running on blockchain yet occupies the Top 15 spot on Coinmarketcap. It’s useful for commercial transactions
- Siacoin – Decentralized storage that may compete with cloud storage providers like Amazon
- Stratis – A blockchain developed for businesses
- Litecoin – The silver to Bitcoin
- Decent.bet – Another gaming coin that disrupts online casinos
- Monero – A truly anonymous token, unlike Bitcoin
- Basic Attention Token – Changing the landscape of advertisements
New coins distributed
There are also new coin airdrops that you may want to look at. These companies are giving away a portion of their coins in the hope of getting investments. Sign up here to get your free tokens. They are affiliate links.
WCX – Link
CoinStarter – Link
Swiftdemand – Link
Buy your Bitcoins here
Here are a few ways for you to buy Bitcoins. You need Bitcoins if you want to buy other altcoins. These are referral links.
xCoins – Link
Coinbase – Link
Localbitcoins – Link
CoinMama – Link
Get a proper Bitcoin wallet
Trezor – Link
In a nutshell
There are so many altcoins these days and new ICOs every week. Most of them may not survive in the years to come, so try not to put all of your money into one coin. Always diversify to reduce your risks. I’m really hoping that Steem will thrive in 2020 because of the great benefits it will have to content creators.
Thanks for reading.