Top 5 Promising Cryptocurrency Startups to Watch in 2020
Blockchain has recently been an interesting topic, and its platforms have increased in numbers globally. The startups are emerging all over the place, targeting various industries. While others bear fruits, some are collapsing, and others are scams. The future of blockchain depends on whether businesses, institutions, and individuals will be able to implement it for the right purpose.
The internet is providing loads of information about blockchain, which shows that your data is not very secure. Cryptocurrencies operate on blockchains, helping you to track your money hence compromising data. All the same, blockchain creates transparency, so nothing is hidden from the public.
The Utility Factor
Many projects are currently using blockchain technology. This is so because of the free transactions. When you plan to invest in cryptocurrency, it’s easy to overlook the utility factor, which is very important.
The role of a high utility is to improve liquidity. A cryptocurrency sells when it’s traded multiple times in the market. When it gets a top market cap, it will make huge returns, but when it is not promoted enough, nobody will be interested in buying it.
The high utility also drives demand. When cryptocurrencies are traded legally, many investors will want to try it. Due to the demand, it creates on the market; there will be profits. When cryptocurrencies gain popularity, they also obtain primary users, and that means the circulation goes down.
What to Expect in 2020
Bitcoin halving is one of the most awaited events to happen this year. The crypto industry is sensitive to this because coins might flip. However, the market is ready for new launches, and the crypto community is waiting to see how it goes.
As the year 2020 unfolds, we should expect decentralized finance to take over various industries. Cryptocurrency and blockchain are a discovery to streamline the financial landscape across the globe and for people to earn money. Will it play a role in the global economy?
This article focuses on the cryptocurrency startups that look promising in 2020. Here are the top five projects.
It’s a platform for the youth created in Oslo, Norway, back in 2018. It allows them to lend money and borrow even more. Lendonomy gives you a platform to share the money with those who need it. The website encourages social networking, and young people are connecting around the globe.
It also provides education to young people on money management and all the tools that come with it. All your finances stay in order once you invest with them. The startup objective was to solve the poverty problem by inspiring young people to be there for each other.
The London-based platform uses blockchain technology to connect those owning land with investors. This makes it easier because individuals avoid expensive transfers concerned with land to individuals or companies. However, this project is the first to bring about decentralization in land and property management, especially in the market. The blockchain has helped the transaction to be comfortable and secure.
The objective of the startup is to initiate the technology, to suit the land and property transactions, and to push for crowdfunding projects.
SwapRadar has an algorithm that looks for bids and their various crypto exchange rates and then trades carefully with the best price on the market. The selected rates are displayed on their website; it also advertises other available rates.
The blockchain comes into play because the exchange operates on it. At this point, the exchange rate at a specific time might differ slightly with the exchange rate at the beginning of the transaction.
Crypto pioneers and very experienced developers designed this startup. The easiest part is that it doesn’t need any registration; hence it’s easy to find it and begin your transactions.
It was founded by Omise, a real-world company that provides online payment methods to thousands of people. Right now, the company is worth $248 million, considering it just started on cryptocurrency trades last year. It was featured on Forbes magazine in Thailand, and it received an award of “digital startup of the year.”
The platform reaches more than 2 billion people around the globe and millions in Asia. It focuses on creating payment systems across different networks through different currencies.
The unbanked population can now send, receive money in any currency at relatively low prices. It could be in fiat, digitized assets, or cryptocurrencies. The providers still have room to improve, as there are potential users.
As it allows these transfers, it relies on the token atomic swap technology to initiate inter blockchain transfers of cryptocurrencies. PAN has collaborated with various institutions, such as the University of Vienna and researchers, to bring this project to life.
This year, we can expect PAN to have cross-chain transfers without a third party medium. All users will have access to online payments at affordable prices.
Trading in cryptocurrencies is something you should research to have background knowledge, as it can save you from many issues that we are dealing with today. If you are thinking of getting into the crypto business, the channels listed here have shown significant potential.
Discovering them should encourage you to take the necessary risks if you are willing. The projects have also proved to deliver the right information to their users, and they can assure you of quality goods and services through their websites.
Featured image: ed2go.com