There are over 5,000 different cryptocurrencies. Virtually half of them are outright scams and 90% of the rest are practically useless. Thus making it difficult to identify the best cryptocurrencies to buy right about now.

For a healthy crypto portfolio, it is important that you pick cryptocurrencies and projects with strong business fundamentals and backed by a competent team.

This article is intended to help you cover some bases in this regard as you look for potentially profitable cryptocurrencies to invest in.

What are Cryptocurrencies?

Before we dive into identifying the best cryptocurrencies for you to buy right now, let’s pause to define what we mean by the term –cryptocurrency. Cryptocurrency simply refers to virtual or electronic cash.

The word is derived from “crypto” and “currency”. Crypto is a Greek word that means “hidden” and currency refers to “cash or money”.

More so, the “crypto” in cryptocurrency reminds us of the anonymous nature of digital currencies, as the identity of the parties involved in cryptocurrency transactions are technically a secret and hidden from the public.

“Cryptocurrency is the cash of the future”. ~The Simpsons.

In the rest of this article, we will examine some of the best cryptocurrencies to buy now for potential juicy return in the next few years or even months ahead as the case may be:

1. Top Cryptocurrency to Buy NOW: Bitcoin (BTC).

The world’s first and most popular cryptocurrency –bitcoin is described as peer-to-peer electronic cash that enables individuals to send money between themselves without going through a financial institution –bank.

Your cryptocurrency investment portfolio cannot be complete without having Bitcoin in it. In fact, most experts recommend that at least 50% of your cryptocurrency investment should be in Bitcoin.

Reason being that the premier cryptocurrency has greater network security and widespread support and acceptance compared to the rest of the altcoins (cryptocurrencies other than bitcoin) in the market.

The prices of the majority of cryptocurrencies are closely correlated to bitcoin. When bitcoin goes up, they follow and when it goes down in value they go down too.

Bitcoin is the safest cryptocurrency to invest in right now and since we want to minimize our risks as much as possible we would want to put a good amount of our money in the safest number one cryptocurrency first.

2. Top Cryptocurrency to Buy NOW:  Ethereum (ETH).

Ethereum is the second-largest cryptocurrency by market capitalization and the first smart contract platform that allows developers to build decentralized applications (DApps) –founded by Vitalik Buterin in 2013.

More poetically –Ethereum is the world’s supercomputer that powers tons of decentralized applications and aims to power internet 3.0. A new era of a decentralized, all-inclusive internet that’s free from censorship and promotes freedom.

Why Ethereum is a Good Investment now

Ethereum is the king of altcoins and probably the only cryptocurrency aside bitcoin that’s actually worth the hype and for many good reasons:

  1. Ethereum has the largest ecosystem in the crypto market.
  2. Ethereum 2.0 –The new Ethereum is coming.
  3. There’re visible and significant growth of Defi platforms and dApps on the Ethereum blockchain.

There are over 1,500 tokens according to CoinMarketCap (tokens are cryptocurrencies that run or exist on another –parent – blockchain) and more than 80% of them are Ethereum based tokens.

That is almost half of all cryptocurrencies currently in the market being powered by the Ethereum blockchain –a solid argument for the coins user case.

With these facts, we can safely conclude that Ethereum right now is simply too big to fail.

A strong use case drives demand for a cryptocurrency; demand shows the value of the project and ultimately the price.

Given the increasing number of applications of the Ethereum blockchain, all things being equal we can expect to see an ever-increasing demand for the Ether (ETH) which powers all of these projects and applications running on the Ethereum blockchain.

More so, with Ethereum 2.0 scheduled to be launched this year (2020) which will transform the Ethereum blockchain to be one of the fastest and most scalable blockchain and thus able to power even more powerful dApps, it is expected that the price of the Ethereum (ETH) coin would reflect the increased activity on the blockchain and thus making investors happy.

In addition, over $1 billion has been locked up in Defi platforms running on Ethereum as per data from Defi Pulse.

This is more than double the figures from last year (2019) and is testimony to how fast the market is growing which also will increase demand for Ethereum (ETH).

More importantly, the Ethereum network alone has over 3,000 different dApps running on it alone out of the about 3,600 according to data from StateOfTheDapps; this figure will strike you more when you discover that there are just less than 4,000 dApps across all smart contract networks.

That leaves Ethereum controlling more than 80% of the dApps market. So when we say Ethereum is the “king of altcoins we are stating the obvious fact.

Currently, Ethereum doesn’t seem to actually have a more worthy rival in the smart contract market yet–at least in theory.

Finally, if Ethereum 2.0 should deliver on its promises, the platform will become almost invincible to competing smart contract blockchains and the value of ETH is expected to grow significantly along with the network; thus making Ethereum (ETH) a potential best right now.

3. Top Cryptocurrency to Buy NOW: Basic Attention Token (BAT).

Basic Attention Token (BAT) is an Ethereum (ERC-20) based, native cryptocurrency created and launched in 2017 by Brendan Eich –the creator of JavaScript and co-founder of Mozilla Firefox and aims to revolutionize digital advertising in a unique and insanely innovative way, using the blockchain technology.

The BAT model is simple. The token aims to correctly price user attention by paying you view ads and for the time you spend on the internet. That sounds too good to be true right? –yes but it’s exactly what BAT is doing.

More so, the project feels that digital advertising is overrun by greedy and selfish middlemen, trackers and outright fraud; and aims to improve the efficiency of digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users.

How does BAT Work?

The best cryptocurrency to buy now 2020

Basic Attention Token Utility

Here’s how this works in real life – Advertisers pay with the Basic Attention Token in order to obtain a variety of advertising services on the BAT platform. Internet users who choose to engage with the Ads through the Brave browser are reward with a 70% share of the Ads revenue paid by advertisers.

More so, website owners who opt to display these ads on their websites, apps or social media accounts are also rewarded with a 70% of what the advertisers paid, while regular internet uses who opts to view these ads on the website gets 15% and the platform keeps the remaining 15% of the Ads revenue.

The BAT ecosystem works together with the Brave Browser, which leverages blockchain technology to anonymously track user-attention securely and rewards publishers accordingly. In essence, currently, to access the BAT platform and enjoy the rewards users must interact with the Brave Browser as both projects work hand in hand and developed by the same team.

What is the Future of the Basic Attention Token?

According to data from Statista, Ad spending in the Digital Advertising market amounts to $365, 554, 000, 000 –that is three hundred and sixty-five billion, five hundred and fifty-four million US dollars as at 2020.

The Basic Attention Token is aiming to take a significant share of that money above and in my opinion; the likelihood of achieving at least a conservative 10% share of the digital advertising market dollars is nearly 100% in the next 5 to 10 years (again conservative estimate).

Should that happen, BAT should be worth $36, 555, 400, 000.

As at the time of writing this article, the total market capitalization of the Basic Attention Token (BAT) is exactly $174,618,755 –nowhere near the figures above.

That means exactly one thing –the Basic Attention Token (BAT) is highly undervalued right now as the tokens fundamentals far outweighs its current market cap.

Thus making it a potentially good investment to buy now and HODL for future price appreciation as the platform grows.

In Summary

Bitcoin is the king of all cryptocurrency and is determined to be the cash of the future. The only value proposition of bitcoin is that its digital money tipped to replace the traditional financial system.

More so, experts believe the first cryptocurrency be a store of value and a potential hedge against major economic crisis or recession.

Ethereum and the Basic Attention Token are among the altcoins with the strongest fundamentals and a solid team.

Ethereum is even tipped to displace Bitcoin in value in the nearest future but we can only wait to see how that’s going to happen.

BAT with its awesome fundamentals and great potentials beats all the other children of Ethereum to make this list of our top 3 best cryptocurrencies to buy right now.

Finally, this list is by no means close to being exhaustive of the best cryptocurrencies to invest in but is a good place to start as you aim to make the most profitable crypto investment decisions this year.