The 5 Best Digital Coins For Newbie Traders
Digital Coins: If you are new to the Cryptocurrency world and is interested in trading, it’s important to know that crypto trading is more than just exchanging coins between traders, so it’s recommended to do some extensive research and have knowledge about what you’re getting into before directly diving in. This is important for newbie traders who wants to trade in any Cryptocurrency trading platform in the market.
To establish your crypto trading career, the first thing that you must do is select a crypto trading platform that allows you to buy your chosen digital coins for trading or selling. As of now, there are over 10,000 crypto coins in 2022, and experts predict an increase in number for the next years.
Benefits of trading
One of the main benefits of trading in Cryptocurrency that attract a lot of traders is having full control over how you manage your digital funds since Cryptocurrency does not engage in third-party agents such as banks or governments. Modern central banking is more vulnerable than we think, so having the peace of mind of having the power over the security of your money instead of leaving it to the bank is already a solid starting point.
Another advantage of Cryptocurrency trading is that you can start trading in other crypto platforms like Bitcoin Up. Crypto trading allows you to put a small amount of money from your wallet until you’ve progressed in your career and are able to trade the big fish of cryptocurrencies in the market.
Perhaps one of the best things about trading in crypto is the continuously-developing presence of retailers on the internet that allows you to pay with Cryptocurrency. To get you started, here are the five best digital coins in the market for newbie traders.
1. Bitcoin
Bitcoin is currently one of the most well-known cryptocurrencies in the market and tops every list of the best coins or platforms. Bitcoin Cryptocurrency has been in the market for over ten years and is the most common choice of traders and non-crypto enthusiasts.
One of the facts that make Bitcoin a good digital coin is its large market cap and trading volume. Since this digital coin is well-known, this might just be the ideal choice to look into if you are a newbie getting into trading Cryptocurrency coins.
In addition, are over 21 million BTC can exist and will disappear when all of them are mined, which leads to a decrease in Bitcoin mining fees.
2. Ethereum
When it comes to ranking cryptocurrencies by market cap, Ethereum comes second to Bitcoin as the largest platform, making it one of the best Cryptocurrency coins to select for trading. Compared to Bitcoin, Ethereum offers no upper limit supply, which attracts a lot of people with interest in this coin.
Ethereum has been around since 2015 and was divided into two last 2016: Ethereum and Ethereum Classic. There are several traders who use Ethereum outside of trading, so their developers have made applications that support the use of Ethereum through smart contracts, which allows it to be used in different sectors such as gaming, voting, and business.
Ethereum has a 2.0 version and has released its first phase on December 1, 2020, but with its two phases to go, the full release is not yet estimated to happen until 2022. The system received another update last August 5, 2021, which implemented EIP-1559 to change Ethereum’s transaction fee system. Currently, Ethereum 2.0 is live on the test net, where stakeholders are already gaining almost 8 million Ethereum.
3. Ripple
Ripple was released in 2012, which makes it one of the oldest names in the Cryptocurrency world. This digital coin is famous crypto to trade because of its help in revolutionalising cryptocurrencies. Although this coin targets big names, it is also an ideal choice for anyone to invest in due to its actual cost being so low.
With Ripple, your earnings may not be as high, but it’s potentially one of the ideal coins that you could check out as a beginner. What makes this good for newbies is its minimal risk that gets you a great experience.
4. Monero
Monero is an altcoin that was launched in 2014 which focuses on privacy. With its goal of providing users extreme security and privacy, Money is referred to as the “one true privacy coin.” With this digital coin, it’s nearly impossible to figure out where each transaction came from, gaining different opinions from investors – loved by some, while some traders consider it fishy.
Monero offers extreme privacy, which allows you to experience the usage of it on the Dark Web while still being a solid cryptocurrency to trade. Even though Monero’s value is pretty high, the digital coin is not as expensive as compared to the big names in the crypto world, which makes it worth dipping into this digital coin before advancing to something that would cost more money.
5. Litecoin
Although Litecoin may not be as popular as Ethereum and Bitcoin, it’s still made it to the list of the top 20 biggest cryptocurrencies in terms of market cap, which makes it a great alternative to Bitcoin. This coin was founded in 2011 and had been continuously developing since then. Litecoin gained approval and interest from crypto traders as it’s a lot cheaper than Bitcoin but has a greater supply limit than Bitcoin, which is 84 million.
As one of the low-cost Cryptocurrency in the market, Litecoin is an ideal starting point for beginners who are new to crypto trading and is still on the stage of exploring the market before targeting the big names of Cryptocurrency.
If you have the right knowledge and skills, you’ll know that there is indeed potential profit in the crypto market! With the various coins and platforms in the market, it can be easily get confused and opt for the wrong platform to start your career with. To avoid reaching an end before even starting your career, it’s wise to invest some time in learning all the important things about cryptocurrency, including the different trading platforms, digital coins, reading price charts, and learning how to handle the volatility of the market in order to start your career in the right path and pave the way to success!
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