10 Best Cryptocurrency to Trade
One of the most lucrative types of investments over the past ten years has been cryptocurrency. The internet is already teeming with tales of people and organizations that have become wealthy by investing in cryptocurrencies.
Since Bitcoin is not the only cryptocurrency on the market, it is important to investigate other cryptocurrencies and determine which ones, in addition to Bitcoin, are performing well. When you first start becoming involved in the world of cryptocurrencies, it may be very confusing because there are dozens of different cryptocurrencies to choose from, ranging from Bitcoin and Ethereum to Dogecoin and BNB.
We only choose cryptocurrencies with a high market cap and trading volume on this list. And we won’t include stablecoins because they don’t have nearly as much volatility as other cryptocurrencies, so we won’t include them on this article’s list of top cryptocurrencies for trading.
Bitcoin has not only been a pioneer in the development of other cryptocurrencies based on a decentralized peer-to-peer network, but it has also become the de facto standard for cryptocurrencies, spawning an ever-increasing legion of followers and spinoffs. This is because Bitcoin was the first cryptocurrency to be built on such a network.
When you trade Bitcoin, rather than buying it at a given price and holding it for the long term in the hope that its value will continue to rise, you may instead trade the price fluctuations on a short-term basis and profit from them. Trading Bitcoin can also provide greater flexibility than purchasing it directly due to the availability of margin and leverage.
The price of bitcoin has surged as a result of its increased visibility in the public eye. In May of 2016, the cost of purchasing one Bitcoin was around $500. As of the 1st of August 2022, the price of a single Bitcoin was around $23,046. Furthermore, in November of 2021, it reached a peak of $65,000.
In 2022, Bitcoin will continue to be the best cryptocurrency to trade overall, and it is not hard to see why. To begin, its price movement is notable for being among the most volatile, and it also records some of the biggest daily transaction volumes. During the previous six months, it has kept its daily transaction volumes at or above $25 billion.
Ethereum is a decentralized application platform that provides developers with the tools necessary to build and deploy their applications (dApps). The analogy that best describes Ethereum is that of a programmable version of Bitcoin. Participants of an Ethereum network are granted the ability to run decentralized blockchain applications known as smart contracts.
Ethereum has maintained its position as the second most valued cryptocurrency on the global market although many of Bitcoin’s early competitors have now become worthless.
The majority of Bitcoin’s characteristics are also present in Ethereum. Active traders choose it because of its high degree of price volatility and because it also records hugely volatile price actions.
Binance Coin (BNB)
The Binance Coin (BNB) crypto token is the fuel that keeps the BNB Chain ecosystem moving forward. Not only can BNB, which is one of the most popular utility tokens in the world, be traded like any other cryptocurrency, but it can also be used in a broad variety of applications and use cases.
BNB has shown to be robust in the altcoin markets, and although we are now in the year 2022, there is still a lot of interest in the price of the Binance coin.
As a result of the significant demand for the alternative cryptocurrency among crypto investors on the Binance exchange and blockchain network, its trading volumes have remained high, and its prices have shown a great deal of volatility.
Cardano was first introduced to the public in September 2017, and its native ADA token started trading at a price of about $0.02. The most significant increase occurred in 2021 when in the first quarter of that year, the price of ADA rallied to create a new all-time high of $1.43.
Cardano’s primary objective has been to develop a protocol that is not just simpler, more streamlined, and less expensive to operate than Ethereum’s, but also immune to the sporadic instability that plagues other newcomer rivals like Solana.
As Cardano becomes more widely used in the years to come, its value is expected to continue to rise. One thing can be said to be definite, and that is the predicted price increase, even though it is uncertain whether the market capitalization of ADA will expand much.
The speed of Solana (SOL), in addition to its scalability, is one of the most appealing aspects of this platform. Since it possesses actual web-scale blockchain capabilities, it is one of the few protocols that can brag about having a TPS of more than 1000. In addition, Solana offers a transaction processing speed of at least 50,000 TPS, making it about 3800 times quicker than Ethereum and 10000 times quicker than Bitcoin.
In April 2020, Solana made its initial foray into the cryptocurrency trading market with its token, SOL. The initial price of each coin was $0.79. After that, it saw a bumpy climb to its record high of about $260 in November 2021, and then it began a pretty steady decline that brought it to $35.05 by July 11.
Even though its price is currently hovering just above $35, a few industry analysts anticipate that in 2022 it could approach its prior peak.
Solana is still a work in progress and is frequently at the center of news coverage across both traditional and digital media. This is mostly news on advances of the several initiatives that are part of its ecosystem, which is rapidly expanding. These factors contribute significantly to its consistently shifting pricing, which attracts a lot of attention from active traders.
Ripple Labs is a privately held corporate software firm that developed Ripple Technology, an open-source protocol that comprises the XRP ledger, and RippleNet, a suite of payment solutions primarily designed for institutional use (banks, non-financial institutions, and digital currency exchanges).
Ripple was once known as OpenCoin but changed its name in 2015 to Ripple to better reflect its current offerings. Ripple Labs is a privately held company, so you will not be able to purchase a stake in the firm through any public marketplace. It is essential to keep in mind that purchasing XRP does not constitute an investment in Ripple Labs, but rather in a product that the company has developed.
Because there are so many XRP coins in circulation (over 45 billion), a single unit of XRP may be purchased for a relatively low price. As a result, many investors choose to include XRP in their portfolios. When compared to the other top 10 projects in this category, the price per coin of this project is quite low, which might make it highly enticing to investors.
TRON (TRX) is a popular blockchain for the development of decentralized applications due to its fast throughput and scalability. The blockchain was launched in 2017, and it is now working to construct the infrastructure for a genuinely decentralized internet (dapps). The TRX coin is used to link the entirety of the TRON ecosystem and has a multitude of applications, some of which include the acquisition of voting rights and bandwidth.
When TRX was first introduced to the market in September 2017 through an initial coin offering (ICO), it began trading at about $0.002 per token with the ERC-20 token standard. In 2018, TRX completed its migration to the TRON network. Things started to take off for TRX in January of 2018, which is when it soared up to achieve its all-time high of $0.21.
In December of 2013, Dogecoin (DOGE) was created as a fork of Litecoin (LTC), which was itself a fork of Bitcoin. Dogecoin was initially designed to function primarily as a tipping mechanism for users on social media platforms like Reddit and Twitter.
When it was originally introduced to the cryptocurrency market in December 2013, the price of a single Dogecoin coin was around $0.00026. The buzz generated by social media appears to be the primary factor affecting the price of DOGE as of late. When celebrities with a large following post or tweet about a cryptocurrency, they bring attention to the cryptocurrency and promote it to a new audience.
Dogecoin is now one of the meme currencies that is the most widely used and exchanged. Its popularity skyrocketed in the early part of 2021 during the boom in the crypto market, but it has mostly managed to maintain its relevance owing to Elon Musk’s continued public promotion of the cryptocurrency.
The Polkadot (DOT) project is one of the more recent entries into the cryptocurrency industry. Polkadot’s goal is to utilize blockchain technology to build a new, decentralized internet that will be accessible from computers located all over the world. The primary objective of the project is to provide users with the ability to create and manage their blockchain environments on top of the Polkadot mainnet.
The price of DOT on the market settled somewhere between $2.70 and $6.18 in August of the year 2020. Following a string of price increases, DOT’s value climbed to a new all-time high in February 2021, eventually reaching an outstanding $46 price point at the beginning of April 2021.
Polkadot is a cryptocurrency that is rapidly increasing in popularity and has a huge potential for value growth in the future. Because of its relatively high daily trading volumes and very volatile price action, it is also extremely well-liked among aggressive traders. This is one reason for its immense popularity.
Shiba Inu (SHIB)
Shiba Inu (SHIB) refers to itself as an experiment in the formation of decentralized and spontaneous communities. The project will include a decentralized exchange (DEX) that will be known as ShibaSwap.
In August of 2020, Shiba Inu (SHIB) was introduced to the market and began trading at $0.000000001. At the time of its introduction, SHIB had a total supply of one quadrillion tokens, of which one half was allocated to Uniswap and the other half was given to Vitalik Buterin, one of the co-founders of Ethereum. Buterin announced in May 2021 that he had destroyed 90% of his SHIB holdings. As a result, the overall supply of SHIB has drastically decreased, which should lead to an increase in the value of the cryptocurrency.
On the 10th of May 2021, the price of SHIB surged to hit an all-time high of $0.00003934. At that time, the market capitalization of Shiba Inu was greater than $13.5 billion, and the year-to-date gains were greater than 50 million percent.
Additionally, this meme currency records relatively significant daily trade volumes, which for the last three months have varied anywhere from $300 million to $2 billion. This was made possible by its listing with all of the prominent cryptocurrency trading platforms, the continued meme coin craze, buzz from the cryptocurrency community, and ongoing investor interest in the meme coin.
Best Way to Trade Crypto
The values of cryptocurrencies are notoriously volatile, shifting by a significant amount even within the span of a few minutes at a time. In addition, traders have the ability to participate in trading cryptocurrencies wherever they are around the globe and at any time of the day or night.
Using a crypto trading bot is one of the methods that one may successfully trade crypto. Crypto trading bots are automatic programs that assist you in buying and selling cryptocurrency at the right moment. The primary purpose of this program is to boost income while simultaneously cutting costs and mitigating risks. These tools make it possible for you to manage all of your cryptocurrency exchange accounts from one location.
How to Trade Crypto with a Trading Bot?
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If you are looking for a new opportunity in the world of cryptocurrency trading, please get in touch with us so that we can assist you in achieving the trading objectives you have set.