Since the birth of Bitcoin in the early 2000s, there has been an immense growth in alternative crypto coins. The development of blockchain technology for financial use has lead to the creation of various streams of passive income, either from trading cryptocurrencies or investing in the coin, and keep it for a prolonged period of time as it grows and develops.

But which altcoin was showing the most potential in performance and profitability in 2020? Check out our list below:

Ethereum (ETH)

Following Bitcoin, Ethereum is perhaps the second best-known cryptocurrency in the world. It is also one of the most widely used crypto coins in the world.

Ethereum was created by Vitalik Buterin and a team of developers. The ethos behind the coin was to offer simplicity and universality.

“What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create “contracts” that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.” – Vitalik Buterin.

The platform offers unique blockchain technology and has contributed significantly to the world of cryptocurrencies. It offers unique methods of earning free crypto and recently added the coin EOS to its US users. The talented team of Ethereum continues developing its protocol and expanding its coin to other regions.

The platform also introduced new methods of earning free crypto in 2019, which further cemented its claim as the best free crypto earning platform.

Because of its low-risk investment setup, it has been cited as one of the best platforms to start or continue the cryptocurrency journey.

Cardano (ADA)

At the moment, Cardano is being noticed by more investors than ever due to its game-changing functionality and ease-of-use. The altcoin is commonly compared to Ethereum for its similar features.

Cardano is still a very new project that has yet to achieve many of its milestones. Cardano is the first blockchain platform to use scientific philosophies along with a research-driven approach. The altcoin has a strong team of developers and claims to have the solution for the quantum computer that many blockchains will have troubles with in the future. This has yet to be implemented, but corporations have shown substantial interest in this capacity. Cardano has strong prospects for future growth and could show substantial advances in the next year or two.

NEO

NEO focuses on smart contracts, similar to Ethereum, but it uses popular programming languages like Python or Java. Currently, NEO offers two cryptocurrencies which are NEO and Gas. The currencies and separate from one another yet have equal value. Both can be purchases and trade.

NEO has a prominent future in the crypto world, despite its competition. Crypto traders believe that the coin will be traded in currency pairs in most exchanges, similar to Ethereum and Bitcoin.

Monero (XMR)

Monero (XMR) was launched in April 2014 by Nicolas van Saberhagen, who, similarly like the creator of Bitcoin, Satoshi Nakamoto, is anonymous. The coin was created to allow people to have complete control of their funds where no one can see each other’s balances and transactions. It uses a concealed public ledger to enhance its security and fungibility.

The platform was designed to ensure that transactions made via the platform cannot be linked and are untraceable. Monero emphasizes its secure platform as a way of keeping transactions private from prying eyes. The platform is also fungible; thus, assets always retain their value in different forms.

Monero’s platform is known for its privacy; it protects the identity of both the sender and the receiver of the transaction, which something refreshing after the significant amount of data breaches and hacking scandals within the crypto world.

The platform is currently growing, but some people do worry that its anonymity could make it a coin used commonly by criminals and hackers. Despite that, the appeal of total privacy is enticing for its users.

Tron (TRX)

Tron had a shaky performance recently, but despite that, the coin is the 13th largest cryptocurrency by market capitalization. The coin’s creators have worked hard to shake off its issues. It currently is part of one of the largest crypto exchanges in the world, Bittrex. Tron is working to build and further develop its decentralized applications (dApps).

Tron is working on integrating a new Tron-based token that can be used on the Tron platform. Its prime purpose would be to allow users to share data on the Tron network and establish faster download speeds. Furthermore, Tron plans to make its new features available on both mobile and desktop.

Tron is working to establish itself as a strong performer in the crypto world, so watch this space!