Ever since the first mass cryptocurrency - Bitcoin - was released, the crypto industry has been growing at an unprecedented rate. Many of us have become rich by investing in Bitcoin and other top cryptocurrencies over the past years, but the scope has not ended yet.
In fact, the crypto industry is poised to grow even more significantly in the coming years, thanks to the rising interest of professional and enterprise investors in blockchain technology and cryptocurrencies.
However, that doesn’t mean that investing in just any cryptocurrency or blockchain project can guarantee you returns. There are also many fake or unreal cryptos out there that are just too good to be feasible. Be aware of these projects and invest only in a well-researched and popular cryptocurrency. Here are a few other things you should know about before investing in a crypto or blockchain project this year.
Real value cryptos are limited
There are not many cryptocurrencies that can actually give value or help with a real problem in the world. If experts are to be believed, not more than 1% of the total cryptocurrencies out there have any real-world value. The rest are either scam or too poorly executed to give any value in the long term.
Not all cryptocurrencies are ready for adoption
One thing we all understand about assets is that their price is derived by demand and the level of adoption. Similarly, digital assets like cryptocurrencies with the ability to be adopted by real people, businesses, and organizations can only survive in the long term. According to research, there are only a small number of cryptos that have the potential of adoption in 2020.
There is no guarantee a cryptocurrency will succeed
Simply because a cryptocurrency is backed by a really strong team or organization does not guarantee that it will be successful. We all saw how badly Facebook's cryptocurrency Libra is doing so far. It also teaches an important lesson that creating a successful crypto or blockchain project is not easy.
Cryptocurrencies with real use cases have a future
The case study of Libra and other similar coins also prove that cryptocurrencies without actual use cases will fail, which is why your primary focus should be on building a powerful project or ecosystem with actual real-life use cases for your coin or token.
Titan coin is a futuristic cryptocurrency
Titan coin (TTN) is one of the fastest-growing cryptocurrencies of our time. Take a look at its price and trading trends on Coinmarketcap. The main reason why TTN is growing is the presence of a variety of use cases, including TTN apps, digital payments, and more, for the Titan coin.
Trusted Computer Network
A trusted computer network involves developing trust-focused apps on the blockchain. Many reputable organizations including Intel are working on building such apps. These apps are useful for a variety of consumers and businesses. Make sure to explore this trend for your crypto investment in 2020.
Now is the best time to invest
The best time to invest in anything is when the market is down, i.e. the price of the commodity is low. Because of the coronavirus pandemic, markets all around the world are dropping and so is the price of assets, including cryptocurrencies. If you invest now, there are brilliant chances of making good profits once the market starts recovering.