Crypto Withdrawal Temporarily Disabled

Fellow Kuberian, 

In the light of recent deliberation around the provisions of The Foreign Exchange Management Act (FEMA) and all other applicable laws, CoinSwitch Kuber had temporarily disabled the ‘Crypto Withdrawal’ option on our trading app as of 22nd July, 2021 keeping in mind the best interest of our users. 

We are still working towards a suitable solution to allow ‘Crypto Withdrawal’ option while ensuring compliance with all the Indian laws and regulations. We will keep our users updated once we resolve the matter.

Please Note: 

  • Only the CRYPTO WITHDRAW option is temporarily disabled
  • All other options – BUY, SELL, DEPOSIT and INR WITHDRAW – will function normally

CoinSwitch Kuber is striving hard to secure the interests of all our users. Our intention is to bring in more transparency that will benefit our users and the larger crypto ecosystem. The window will allow us to put in place strong measures that will ensure user protection without bringing any law of the land into question. 

We thank you for trusting us and will continue to serve you at our best. In case of any clarifications, please reach out to support@coinswitch.co

Thanks for your support! 

 

Dear Kuberian,

CoinSwitch Kuber is delisting RCN (Ripio Credit Network).

Invest In Crypto With Just Rs.100

Please Note:

  • The ‘BUY’ and ‘DEPOSIT’ option for the RCN cryptocurrency is currently disabled on the app.
  • Users who already hold RCN can either ‘SELL’ or ‘WITHDRAW’ the cryptocurrency from the app. We have enabled a 14-day window for you to sell or withdraw your RCN tokens. The window ends on 02/08/2021 at 5 PM IST. 

Any withdrawal request after 2nd Aug 5 PM IST will take 48 hours to get processed. No sell option will be available once the window ends.

All cryptocurrencies on our platform are constantly reviewed to ensure they meet our quality standards. When a coin no longer fits the requirements, we delist it. The decision is made with your best interest in mind. By practising this, we ensure that all cryptocurrencies on our platform are of the highest quality.

For any asset or security, its price cycle is characterized by four distinct phases: 

  • Accumulation,
  • Markup 
  • Distribution and 
  • Markdown

This is the natural price cycle of any market and is important for the growth of the value of an asset in the long term.
Returns are never linear in the market and therefore, what goes up, must come down.
The massive drop in the price of Bitcoin and other crypto has roiled investor sentiment, but the move is not sudden or due to someone going back on their decision to halt accepting Bitcoin for payments.

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A Natural Course Correction

If many technical analysts are to be believed, Bitcoin was clearly overbought and looking for triggers to fall or correct itself. 

If anything, Elon Musk’s tweet and China’s ban of digital tokens in financial transactions acted as the catalyst for this massive drop. 

Take a look at the daily chart for BTC/USD given below. 

It’s in the RSI

btc-usd daily chart

The RSI or relative strength indicator is a very important technical indicator for traders to gauge the bullish or bearish price momentum. It tells you if an asset is overbought or undervalued. 

An RSI above 70 is considered to be overbought and oversold when it is below 30.

In the chart above, you can see that the RSI had begun its downward trend since Jan 2021, when Bitcoin crossed the $ 40,000 level. If anything, this was an inevitability waiting to happen. 

New Investors and Their Fears

Another factor that played a major role in this selloff is the exit of first-time investors from the market

The recent surge in the price of cryptocurrencies attracted a lot of first-time investors into the market, but as sell-off picked momentum and losses ballooned, the first time investor started exiting the market in a panic to protect their capital. 

Bitcoin- The Path to Recovery

Bitcoin is still trading 300% higher compared to the levels it was trading a year ago. 

The pullback from its recent peak of $63,729.5 is a small blip, given the huge growth potential it has.

 In the previous market rout, when the price of Bitcoin retracted from $20,000 to near $3,500, everyone kind of wrote it off.

Take Tesla with a Pinch of Salt

Elon Musk and Tesla have endorsed and rejected as a means to pay for their vehicle. This has gone a long way in impacting investor’s sentiment negatively and has also shaken the crypto ecosystem, which aimed for increased mainstream adoption. 

However, investors should keep in mind that Tesla’s decision was purely due to the company’s commercial interest that could have impacted its plan to remain profitable. 

Elon Musk Tweet

In fact, for most investors, taking Tesla with a pinch of salt goes a long way in matters of crypto investment. Elon Musk is already exploring reconciliatory measures with the crypto industry.

JP Morgan: Playing Both Sides

A recent report by JPMorgan suggested that many institutional investors are moving away from Bitcoin in favour of gold, but has not mentioned the reason for this move. 

On the flip side, JP Morgan continues to maintain a long-term bullish stance on Bitcoin and has stuck to its previous forecast of $140,000 in the long term. 

However, given the broader weakness in the market, it is difficult to predict the trend reversal. Many experts suggest that the selloff is healthy for the market, as Bitcoin continues to move to the strong hand from the weak, meaning old hands are accumulating in this dip. 

Final Words

Extreme volatility in cryptocurrencies is not a new phenomenon but is the most defining characteristic. The very characteristic that helps it to grow in value and beat every other asset class in terms of return. For instance, Bitcoin grew from $20,000 to $63,729, in less than four months. 

In the cryptocurrency market, there will be a period of muted growth, extreme bearish trends, but the long-term outlook remains bullish.

 

Dear User, 

We regret to inform you that the INR deposit feature on the CoinSwitch Kuber app is temporarily disabled. So, you will not be able to make new INR deposits into your CoinSwitch wallet via UPI or Bank transfer for some time. 

However, this will not affect INR withdrawal, crypto deposit/withdrawals, or buy and sell of crypto with existing deposits you have in your wallet. 

Let us explain why this is happening. 

Over the past few weeks, we have been facing issues with INR deposits via banks and payment gateways. Banks are hesitant to engage with crypto exchanges due to the lack of regulation in the crypto space, which has affected India’s entire crypto industry. 

A couple of days ago, an article published in Economic Times stated that ICICI bank and other banks are distancing themselves from exchanges supporting Bitcoin and cryptocurrency trading. This is happening despite the supreme court lifting the banking ban imposed by RBI on cryptocurrencies. There is no clarity from the RBI post supreme court verdict on how banks should deal with crypto exchanges. So, citing the circumstances, some banks have been reluctant to work with cryptocurrency platforms. 

We believe that it is a minor hiccup in the industry. CoinSwitch Kuber is committed to bringing crypto conversations into the mainstream, hoping that it will be accepted and established as an asset class on par with traditional assets.

We are actively engaged in shedding light on the importance of crypto to the authorities. And are relentlessly working towards partnering with more financial institutions that are willing to extend their services in the crypto space for a better user experience. 

On the deposit front, we are sorry for the inconvenience. We are continually in talks with the banks and are determined to get this issue resolved soon.

Meanwhile, we request you to bear with us and give us your unshakeable support as we resolve these issues. Please be assured that your funds are always secure with us.

CoinSwitch Kuber looks forward to welcoming a positive regulation for cryptocurrencies in India. With the recent response from Finance Minister Nirmala Sitharaman, we believe that the day is not far when we hear new advancements in the crypto space in India. 

Thank You,

CoinSwitch Kuber Team

 

As Cryptocurrencies are becoming popular, there are a plethora of cryptocurrency exchanges, which are the main reason how the users are able to exchange or trade. The cryptocurrencies are volatile as that is an unavoidable characteristic of digital currency. Let us first understand what exactly is a cryptocurrency exchange, what does it do and then we can have a look at the top cryptocurrency exchange list for crypto trading 2021.

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What Is A Cryptocurrency Exchange?

A cryptocurrency exchange allows the investors to buy, sell or trade cryptocurrencies(either from fiat to crypto or from crypto to crypto). The cryptocurrency exchanges mostly support the top 20 cryptocurrencies by coinmarketcap. People lookout for the security of their crypto holdings and cryptocurrency exchange rates, hence they would prefer exchanges that offer great functionality, is user-friendly and secured.

What To Look for In A Cryptocurrency Exchange

Before using any cryptocurrency exchange, you must look for some basic features like geographical restrictions, transaction fees, security, ease of use and the credibility of the respected exchange.

Now, let us have a look at the best cryptocurrency exchanges in 2021:

#1 Coinbase Pro:

Coinbase Pro was one of the early cryptocurrency exchange platform, founded in 2012, based in San Francisco, with a valuation of around $1 billion. Coinbase Pro helps enable withdraw and deposit funds easily. It offers competitive fees, advanced trading features, and deposit options. IT is insured by the New York Stock Exchange and Andresseen Horowitz.

Supported Coins: BTC, ETH, BCH, LTC, ETH, ZRX, BAT

Trading volume: $217,481,180

Pros: Fully regulated in the United States, Competitive Fees

Cons: Not ideal for beginners, very fewer altcoin pairings for Australians

#2 Binance:

Binance is the world’s biggest cryptocurrency exchange which works like an ecosystem, comprising of an exchange, wallet, Labs, Charity info, etc as stated by the CEO- Changpeng Zhao. Binance has its own coin called Binancecoin(BNB) which comes with a discount when there is a crypto-to-crypto payment. Binance supports over 130 tradeable cryptocurrencies and is one of the best exchanges to buy cryptocurrencies. Binance is known to have one of the best cryptocurrency exchange apps.

Supported Coins: Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, DASH, Litecoin, NEO, GAS, ZCash, Ripple and many more.

Trading Volume: $1,724,874,280

Pros: Low transaction fee- around 0.1%, not exactly suitable for the beginners as it has two versions of trading- basic and advanced with not an easy-to-use interface.

Cons: You can’t use or exchange with fiat, can’t margin trade or short sell.

#3 BitMex:

BitMex is one of the premier Bitcoin exchange platforms across the world, based out of Hong Kong. As the name suggests, BitMex( Bitcoin Mercantile Exchange) is a trading platform for Bitcoin, the largest cryptocurrency by market capitalization. There have been reports that BitMex has had experienced over 2 billion USD transactions that have happened in 24 hours.

Supported Coins: Bitcoin, Cardano, Bitcoin Cash, Ethereum, Litecoin, EOS, Ripple

Trading Volume: $3,035,184,687

Pros: You can buy leveraged contracts like future or perpetual contracts from BitMex. You can short sell and margin trade.

Cons: Only one cryptocurrency is available for trading and does not accept any US-based payments as it’s not available there.

#4 OKEx

OKEx is one of the most popular cryptocurrencies supporting more than 145 cryptocurrencies, based out of Hong Kong. They even have their own cryptocurrency- OKB. OKEx has about 0.02% to 0.2% maker and taker fee.OKEx is not far behind when it comes to trading per day, it has experienced around $1.5 million in bitcoin futures every day.IT is one of the trusted global cryptocurrency exchange.

Supported coins: Bitcoin, Ethereum, Litecoin

Trading Volume: $1,384,994,152

Pros: Allows margin and short selling, supports more than 145 cryptocurrencies.

Cons: Not supporting the US traders, but is supposedly expanding to Malta.

#5 Kraken

Kraken, founded in 2011 by Jesse Powell, is one of the largest bitcoin exchanges for its popular section of fiat currency exchange including Euro, Yen, USD, pound, etc. Kraken is partnered with the first cryptocurrency bank in the world. It supports over 17 cryptocurrencies with a maker and taker fee of 0% to 0.26%. Kraken even provides bitcoin pricing to Bloomberg terminal.

Supported coins: Bitcoin, Bitcoin Cash, Bitcoin SV, Cardano, DASH, Dogecoin, EOS, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Tether, Zcash and many more.

Trading Volume: $160,834,807

Pros: High liquidity, supports many cryptocurrencies, apt for seasoned traders.

Cons: The processing time is slow.Arbitrary closure of accounts

#6 Huobi

Another cryptocurrency exchange, which still hasn’t laid their foundation on the United States is Huobi, which was founded in China and boasts of supporting around 250 cryptocurrencies. Huobi has 2 different versions- Huobi OTC( that allows trading of cryptocurrencies with fiat currencies at zero fees) and Huobi Pro( that is for advanced trading capabilities). Huobi is coming up with a cryptocurrency exchange-traded fund(ETF) to be named HB10.

Supported coins: BTC, LTC, ETH, BCH, XRP, DASH, EOS, TRX, ZEC, and 90 other coins

Trading Volume: $911,363,754

Pros: Access to wide-ranging cryptocurrencies, 24/7 customer support, Competitive Fees

Cons: has been accused before, of falsifying trading volumes, mostly focusing on South-Asian market and not targetting any other parts of the world.

#7 Bitfinex

Bitfinex was started in 2012 and is based out of Hong Kong, offering the most liquid order, which allows easy exchange with minimal slippage. Bitfinex enables the users to trade up to 3.3x leverage by getting funds from peer margin platform. The margin funding market of Bitfinex helps you earn interest in digital and fiat assets. The users can also auto-renew the offers, even if it gets expired. The best part is that Bitfinex lets you have the set-up done according to your needs or preferences.

Supported coins: BTC, ETH, ETC, XMR,ZEC, LTC, DASH and 22 more

Trading Volume: $149,183836

Pros: Unlimited withdrawal, in-house mobile app, multiple payment options

Cons: has some history regarding it getting hacked

#8 Bittrex

Bittrex is an US-based cryptocurrency exchange based in Seattle, Washington where security is the most unique factor, that makes it one of the best cryptocurrency exchanges in 2021. There are more than 190 cryptocurrencies enlisted out there, without around 284 unique pairings. Bittrex charges flat 0.25% of each and every trade. Bittrex can process trades as soon as it happens as it was built using elastic computing.
Supported coins: BTC, ETH, XVG, XRP, ADA, XRP, LTC, RDD, ZEC, and 130 more coins

Trading volume: $61,219,365

Pros: Highly secured, very easy to use, even for the beginners.

Cons: Only supports crypto-to-crypto trading, Accused of poor customer service in the past, not a beginner-friendly platform

#9 Bitstamp

Bitstamp was formed in 2011, based out of Slovenia, and has multiple headquarters, both in New York and Luxembourg. Bitstamp has one of the lowest fee systems in the world, with 0.05% for international wire transfer, and imposes 0.09% on international withdrawals. It allows USD, EUR, Bitcoin, Litecoin, ethereum, ripple or bitcoin cash deposits, and withdrawals.

Supported coins: BTC, BCH, LTC, ETH, XRP

Trading Volume: $89,107,924

Pros: Verification on Bitstamp is fairly rapid, very easy to use by the beginners and the crypto enthusiasts.

Cons: Simplistic mobile app, High card fees

#10 KuCoin

KuCoin was founded in 2011, with a predominantly modern outlook, backed with a  secured platform. It is based out of Hong Kong, which is a profit-sharing platform, distributing 50% of their overall revenue to holders holding exchange-based token-n KuCoin Shares (KCS). Even the Holders get a 1% discount for every 1000 KCS they hold. The fees are comparatively lower than other exchanges.

Supported coins: BTC, BCH, ETH, XRP, LTC, EOS, ADA, TRX and  62 other coins.

Trading Volume: $53,671,283

Pros: Offers a wide range of cryptocurrencies, fees are low

Cons: No fiat currencies accepted, difficulties experienced during a high traffic period.

What is the best cryptocurrency exchange for beginners?

Now, its time for getting rid of all the challenges, and get the collaborative and additional benefit, that any single crypto exchange can provide in a single platform. Let’s talk about the platform, which enables the users to trade seamlessly in just three clicks.

CoinSwitch is not an exchange, but a cryptocurrency exchange aggregator, which has the benefits of all the exchanges put together. Not only that, CoinSwitch lets the user get the optimum benefit by letting the user choose the best price amongst the price from the exchanges. The best part is that you will get the security at the most competitive rate and that too, without revealing your personal details. CoinSwitch has its own API, which you can use for your custom made products or services.

If you refer a person, you get 5$ in BTC after the successful transaction. You get to know about every crypto-trading pairs, their highest conversion rate in the last 24 hours, the conversion rate and the trading analytics on a particular coin or crypto pair.

CoinSwitch supports more than 300 cryptocurrencies and has an instant crypto converter. The best part is that it is partnered with exchanges such as Binance, HitBTC and many more, hence considered one of the best crypto exchanges for the U.S. customers.

Frequently Asked Questions (FAQ)

1. How many cryptocurrency exchanges are there?

There are many cryptocurrency exchanges in the world- the prominent ones being Binance and Coinbase.

2. What is the best cryptocurrency exchange for beginners?

We have already mentioned in the last section, and you can get the needed benefits with an easy interface.

3. How do cryptocurrency exchange work?

Cryptocurrency exchanges work very easily and efficiently, where you can trade or sell as per the current cost of the respective cryptocurrency.

4. Which crypto exchange has the lowest price?

CoinSwitch provides you with the most competitive rate in the market.

5. How do crypto exchanges determine the price?

Most of the crypto exchanges calculate the value based on the volume of trades, the demand, and supply of the particular coins.

6. How do I get cryptocurrency exchange in the U.S.?

You can get cryptocurrency exchange at the best rates here.

7. What type of cryptocurrency exchanges are there?

There are mainly two kinds of crypto exchanges- centralized and decentralized.

KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

Mining provides a decentralized way to issue cryptocurrency while creating a solid ground for more crypto enthusiasts to mine. It ensures that new coins are produced every 10 minutes – 10 minutes is the time basically required to mine a single BTC block. Following are the things you may require before you embark on your crypto mining journey so that you will get the most profitable cryptocurrencies to mine in 2021:

  • A coin wallet that will be password-protected storage for your earnings and keeps a network-wide ledger of transactions.
  • A free mining software package
  • Membership in an online mining pool – a community of miners who combine their computers to increase profitability and income stability.
  • Membership at an online currency exchange to exchange your mined coins for cash or Bitcoin
  • A desktop or custom-built computer designed for mining.
  • An Nvidia graphics processing unit (GPU) or a mining ASIC chip.

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As now you know what all is required to mine a cryptocurrency, let’s explore the best coin to mine in 2021:

#1 Bitcoin (BTC)

Bitcoin is the world’s first decentralized cryptocurrency which initially reared its shiny head into digital markets in 2009. Though it is the first cryptocurrency in the world, lots of crypto fans consider it as most profitable cryptocurrencies to mine in 2021. While mining Bitcoin, a peer-to-peer computer is used to secure and verify bitcoin transactions on a decentralized network.

Bitcoin is going to undergo its third halving process in May 2020 where the block rewards for the miners are going to reduce from 12.5 BTC to 6.25 BTC. Back In 2012 and 2016, Bitcoin underwent “halving,” where the block reward reduced from 50 BTC to 25 BTC in the 1st halving method and 25 BTC to 12.5 BTC  in the second halving process.

Read more: Know more about the BTC Halving 2020

#2 Litecoin (LTC)

Litecoin (LTC) is an open-source software project released under the MIT/X11 license. This peer-to-peer cryptocurrency is currently trading at US$ 44 and ranks as the world’s fourth-largest cryptocurrency in terms of market capitalization. Contrasted with different cryptographic forms of money, Litecoin provides a superior storage capacity and its confirmation is fast as well that makes it the best cryptocurrency to mine 2021.

LTC picked up a bid near US$ 20 in December 2018 and outshined BTC’s 7 percent gain with a 41 percent rise. This strong performance of LTC comes at least five months ahead of the mining reward halving.

In August 2020, the Litecoin is going to go through its second halving process wherein the miner reward will be reduced to half, i.e, from 25 LTC to 12.5 LTC. LTC halving process took place once before this, in 2012 where the block reward reduced from 50 LTC to 25 LTC.

Read more: Know more about the upcoming Litecoin Halving 2020

#3 Ravencoin (RVN)

Launched on January 3rd, 2018, Ravencoin is built on a fork of the Bitcoin code. It is basically an open source ‘peer-to-peer’ blockchain designed to handle the efficient creation and transfer of assets from one party to another. Ravencoin is an American-made blockchain that focuses on asset transfers based on Bitcoin and Ethereum.

Ravencoin has recently gained popularity, and the credit goes to the X16R algorithm that it uses for proof-of-work mining.

#4 Grin (GRIN)

Grin is the latest treasure of cryptocurrency world as well as best cryptocurrency to mine 2021. This new privacy coin with unlimited supply (including circulating supply of 4.39 Million coins) has surprisingly received positive response hostile bitcoin maximalists.

Grin is an open-source project that focuses on privacy, scalability, and fungibility, and trades actively on Hotbit crypto exchange. It is now the first cryptocurrency to leverage mimblewimble privacy technology.

#5 Horizen (ZEN)

Horizen, formally ZenCash is a privacy-focused blockchain platform for communication, transactions, and publishing. It was launched on 23 May 2017 as a fork of Zclassic without any Initial Coin Offering (ICO). Now known as Horizen, it is one the best cryptocurrency to mine with CPU that uses a secure node system to relay data via connecting nodes, and e core protocol help deliver secure messages using the ZenChat service. It has been listed by many crypto exchanges as the best coin to mine in 2021.

#6 AEON (AEON)

A mobile-friendly, lightweight and the best cryptocurrency to mine with CPU, AEON (Anonymous Electronic On-line Coin) focuses on privacy and anonymity for the end-user. Aims to be Monero-lite, Aeon utilizes the CryptoNote protocol and is build upon Monero’s CryptoNote hash including features such as features – ring signatures, one-time keys, blockchain analysis resistance. Thanks to its Cryptonite-light PoW, it is the most CPU-friendly coin – allows faster verification of the blockchain with a block time of 4 minutes.

#7 Electroneum (ETN)

ETN is the fastest and the best cryptocurrency to mine with GPU. It is the first KYC compliant cryptocurrency of the world. With an aim to hit the jackpot in mobile games and online gambling market, ETN is basically built on its own chain of blocks that comes from bitcoin. A mobile cryptocurrency that has been designed for mass adoption, Electroneum has its own app, wallet and mobile miner. It focuses more on speeding up the microtransactions, like purchasing mobile games, making payments for apps, and sending money to friends.

#8 Feathercoin (FTC)

Feathercoin has been launched as an alternative coin for Bitcoin. Introduced in 2013 with a small trading volume, Feathercoin is an upgraded and customized version of Bitcoin. Initially, forked from the Litecoin source code, FTC uses NeoScrypt hashing algorithm, and GPU’s can help to extract it. It supports various desktop wallets, mobile wallets, and block explorers. Feathercoin is perfect for in-store payments, thanks to its low fees and fast settlement. The FTC wallet supports Stealth Addresses so you can make completely anonymous transactions.

#9 Monero (XMR)

Recognized as the most advanced privacy coin, Monero is based on a proof-of-work hashing algorithm known as CryptoNight. You can easily mine Monero on your PC just by downloading and installing Monero mining software that’s why it is considered as one of the best cryptocurrency to mine with GPU as compared to others. It uses a Proof of Work mechanism to issue new coins and reward miners to guard the network and validate transactions. Its design is resistant to application-specific integrated circuit (ASIC) mining, so one can also mine other cryptocurrencies such as Bitcoin.

#10 Vertcoin (VTC)

A relatively new altcoin, Vertcoin uses a Lyra2RE proof-of-work algorithm to validate transactions. Designed to be ASIC resistant, it uses a Vertcoin team issued one-click miner. It is compatible with graphical user interface (GUI) miner that simplifies mining for both CPU and GPU users. It supports AMD and NVIDIA graphics cards. An open source platform that offers 2.5-minute block time, Vertcoin is a Scrypt-N coin that offers comparatively low hash rates. It is the best cryptocurrency to mine in 2021.

And the list doesn’t end here, there are several best coin to mine in 2021. Many industry websites compare various cryptocurrencies mining profitability to Bitcoin to evaluate the net worth of mining cryptocurrency. However, mining should be considered as a secondary activity while trading crypto coins as it can gradually season funds into your wallet and give you some extra money. It is like ‘gathering gold dust’ rather than collecting gold nuggets.

KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

Cryptocurrencies are one of the most attractive assets for day traders. They are super volatile and can change in value with every tick of the clock, giving traders the scope to make good profits in a short span of time.

However, day trading isn’t as easy as it sounds. Almost 90% of day traders lose money. 

Most people day trade only to make fast money and don’t put in the necessary work, which can sometimes become a gamble. They don’t realise that it takes skill and knowledge to day trade cryptocurrencies. It is a disciplined activity to speculate the immediate future of an asset. The more accurate your speculation, the higher your chances of making a quick profit. 

What is Day Trading?

To put it simply, Day Trading is the buying and selling of assets during the same day. You buy an asset expecting it will go up in value at some point in the day so that you can sell it and profit from the price difference. 

The buy and sell can happen within a few minutes, a few hours, or any period of time within the day. Day trading is also referred to as intraday trading because the buy and sell happen within the same day.

So what is day trading in cryptocurrency? Day trading cryptocurrencies is quite popular among beginners and professional traders alike. It’s buying and selling cryptocurrencies on the same day with the intention of a profit.  

Invest in Crypto With Just ₹100

There are several strategies that you can use to effectively day trade in cryptocurrencies. They help you make quicker decisions on when to buy and sell. However, since Crypto is a highly volatile asset, most day trading strategies are based on the price activities of a cryptocurrency on that particular day. 

For instance, Scalping is a trading strategy where traders take advantage of small price movements of the asset to make gains on big investments.

3 Factors to Determine Day Trading Cryptocurrencies

This is why it’s important for you to first understand what causes‘ price movements’ in cryptocurrencies. Three factors that help you determine that are – Volatility, Volume and Current Activities of a cryptocurrency.

factors that determine day trading cryptocurrencies

1.Volatility

Volatility refers to the extent to which the price of any cryptocurrency changes in a day. Since cryptocurrencies are volatile in general, they can even fluctuate between 10% to 50% a day.

The more volatile a cryptocurrency is, the higher its chances to either move positively or negatively. As much as this variation can prove to be profitable, it poses an equal level of risk.

Traders should bet their money on cryptocurrencies with upward price volatility. So that, as and when the asset spikes, you make a profit. During periods where your investment reacts negatively, you can use a limit order to curb your risk exposure.

The use of limit order in cryptocurrency trading can be beneficial for smart traders. Limit Orders help you set a profit and loss level for yourself. Using them, you can dictate the price at which you want to buy or sell a cryptocurrency.

2. Volume

Volume is another important factor that traders can study. The level of trading volume determines the amount of activity happening around a particular cryptocurrency.

For instance, the higher the trading volume, the more people are buying and selling that cryptocurrency, which makes it easier to convert crypto into cash. It is also a good estimate of a cryptocurrency’s popularity. Ideally, traders should trade in cryptocurrencies with high trading volumes. 

How does volume influence price movements? Generally, higher buy volume (Demand) indicates an upward trend and vice versa. 

3. Current Affairs

Crypto is very sensitive to the discussions happening around it. Any news, positive or negative, can influence its short term prices in the Crypto market.

To forecast trends, traders must closely follow the activities of the cryptocurrency they are trading in on all channels. They must look for their social media actions, follow their founders and watch out for what is being said about that coin. 

For instance, if a founder of a cryptocurrency project puts up a positive update on Twitter or any other social media platform, the price of that crypto is likely to reflect that and go up.

Best Day Trading Cryptocurrencies 

Here’s a look at five of the most popular cryptocurrencies for day trading:

top 5 day trading cryptocurrencies

1. Ethereum (ETH)

Ethereum enjoys heavy trading volumes because it’s the second-largest cryptocurrency by market cap. Thousands of people buy and sell Ethereum every day. 

Though it is highly volatile, the degree of volatility depends on multiple factors like the market conditions, current affairs etc.

Talking about current affairs, if you are trading in Ethereum, make sure you follow all the news around it. Lately, it’s been on everybody’s mind because Eth 2.0 will soon roll out entirely. Eth 2.0 is basically an Ethereum upgrade that is phased out in three phases. Once launched, it will reduce the transaction cost and improve the efficiency of the existing ethereum network.

2. Tron (TRX)

Tron is the fastest-growing blockchain and generates quite a lot of trading volume. It is not highly volatile, but as with all cryptocurrencies, you never know how intense its next price variation can be. 

You can get an idea of its short-term price movements through all the news floating around it on the internet. Tron’s founder Justin Sun is pretty active and vocal on Twitter and often tweets about the project.

3. Binance Coin (BNB)

This cryptocurrency is backed by one of the largest crypto exchanges around – Binance. It is the fourth largest coin on the market and generates significant trading volume. 

In terms of volatility, it is usually more volatile than the above two cryptocurrencies, but again,  nobody can tell for sure.  To trade BNB successfully, ensure you pay attention to the news about the cryptocurrency exchange it is associated with, the recent news about the cryptocurrency, etc.

4. EOS.io (EOS)

EOS.io might not be as popular as other cryptocurrencies on the list, but it has considerable trading volumes. 

It is highly volatile. EOS.io recently rallied upto 100% in a day after the network proposed to increased the staking rewards, according to Coindesk. So make sure you follow all the news around the cryptocurrency to capitalise on such opportunities.

5. Tether (USDT)

Tether is a stablecoin pegged to the U.S dollar. Its value is always as close to the U.S dollar as possible. Though not ideal for making money, USDT can be of good use to traders. 

Traders play with volatility a lot and tend to pay a lot in intraday trading charges (fees). 

Stablecoins are a great way for them to add some stability to their portfolio. They can instantly realise their gains in trades without cashing out by just converting their holdings to USDT. It saves them a significant amount of money in intraday trading charges.

How to Day Trade Cryptocurrency?

With a fair idea of what is day trading in cryptocurrency, it’s time to make that trade happen!

How to day trade cryptocurrency in 3 simple steps:

  • Download CoinSwitch Kuber from Play Store/App Store and finish your KYC in five minutes. You only need your Aadhar card, PAN card and a photo of yourself
  • Deposit money to your CoinSwitch Kuber account and buy from a list of 80+ cryptocurrencies
  • Watch the markets and wait for the right opportunity to sell for a profit.

If you are a beginner, read our blog on cryptocurrency trading tips to make the most of your trades.

FAQs

1. Can you make money day trading crypto?

The whole point of day trading is to make money fast, so yes, ideally, you should be making money by day trading cryptocurrency. However, you may also lose money if you don’t know how to do it right.

2. Which cryptocurrency is good for day trading?

It depends on multiple factors; if you are a high risk-taker, you may want to test yourself with volatile cryptocurrencies rather than comparatively less volatile cryptos. The trading volume and current talks around it also help in determining a good day trading cryptocurrency.

3. How much money can you make day trading crypto?

There’s no cap on the money you can make with day trading. At the same time, you need to risk big capital to make big gains.

4. What is the best low-cost cryptocurrency to buy?

There are several low-cost yet good cryptocurrencies one can invest in. Check out our list of the cheapest cryptocurrencies to know about them.

P.S: KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

Since Blockchain evolved to be one of the most feasible technology, we have countless options in the cryptocurrency list to invest. Some are proving beyond expectation while some are majorly disappointing. Most surprisingly, the top 10 cryptocurrencies to invest might not be very popular or common to all the traders.

Before thinking of investing, it’s very crucial to understand their features and potential in the long turn. For that, following their move is equally important. Just like real estate investment and significant investments, you can’t just rush into any decision.

For a simple example, let’s consider Bitcoin, the most heard of cryptocurrency, which a layperson might also have heard of, because of it being in the limelight for quite some time. In 2017, BTC surged astronomically upward, after which it fell so low, which was beyond anybody’s imagination. Now, it’s struggling hard to rise again. But as predicted by the market leaders, 2020 is going to be the year that is incredibly going to change the picture from bearish to bullish.

Now that it’s a new year with lots of expectation around the corners, You must know how to invest in cryptocurrencies and what are the prelims before investing.

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Before making any investment decisions, we should be answering these questions to ourselves:

  • Are you having any planning of selling after it reaches a peak price?
  • If yes, do you want to sell it all at once or gradually?
  • Is there any factor that might affect your decision and you sell it off abruptly?
  • What is the maximum amount of loss which you can bear?
  • How optimistic are you about making profits?
  • Do you follow the market news on a regular basis? If you’re not keen on that, you mustn’t invest.

Based on these answers, you should figure it out whether you want a long-term investment or a short-term investment in cryptocurrencies.

Knowing which cryptocurrency to invest in might prove to be a difficult task for you if you’re not updated on the performance of the cryptos. You can’t make investment decisions based on emotional judgments. There are several metrics used to calculate the best currency to invest in. In a matter of time, cryptocurrencies can jump up or down the ranking order, as recently happened with XRP(which replaced ETH and grabbed the second position).

Bitcoin (Bitcoin price $3437.30) and Ethereum (XRP price $0.305224) are indeed the top cryptocurrencies to invest but let’s have a look at the 10 new and emerging cryptocurrencies of 2021:

So, what are the top cryptocurrencies to invest in 2021?

#1 Zcash (ZEC)

Even if Zcash is predominantly new to the market, it has covered several grounds in such a short span. The CEO, Zooko Wilcox-O’Hearn is forward-thinking and continuously plans for growth and expansion strategies. At the moment, Zcash has around 21 million coins in transactions. Investment in Zcash is easy as you can enjoy a certain level of anonymity and can get the detailed report of the transactions you’ve carried out, hence making it one of the best cryptocurrencies to invest.

Zcash Price for today is $79.91. Its current circulating supply is ZEC 6,723,069 with a market cap of $537,258,522. You can convert ZEC to BTC at best rates from CoinSwitch.

#2 Dash (DASH)

Digital Dash should be included in top cryptocurrency list when it comes to investment opportunities. Although it was created in 2015, its market capitalization hit $2,036,525,273.Within this short span, they have consistently handled about $100 million worth of transactions daily as they are safe and secure. DASH is one of the best cryptocurrency to buy right now.

Dash Price for today is $146.10. Its current circulating supply is DASH 8,857,711 with a market cap of $1,294,142,348.

#3 Neo (NEO)

Two names always pop in our minds when we talk about blockchain and innovation- Vitalik Buterin and Da Hongei. The former as we know is the creator of Ethereum, wherein the latter is the creator of NEO coin. The NEO technology is underpinned by a Delegated Byzantine Fault Tolerant system, which adds sophistication to the system. Its improved proof of stake tech makes it one of the best cryptocurrencies to invest in.

By now, you might have got a fairer idea of the cryptocurrencies which will be good for investment in 2021. As stated earlier, investment is a risky process so it shouldn’t be rushed. You should always take investment decisions in a logical manner.

NEO Price for today is $12.43. Its current circulating supply is NEO 70,538,831 with a market cap of $876,507,478.

#4 Steem (STEEM)

Steemit, the blogging, and social media platforms have decided to venture into cryptocurrencies. Activities like writing blogs and comments will award tokens to the writers. This token can be used for payment of other things on the platform. This is booming as more and more budding writers are showing their interest in this social media creative writing enabler.

Steem Price for today is $0.411964. Its current circulating supply is STEEM 318,079,459 with a market cap of $131,037,435.

#5 Cardano (ADA)

Cardano is the distributed computing platform that implements blockchain technology for the ADA coin. As a decentralized blockchain platform, Cardano is an entirely open-source cryptocurrency project. Cardano is also the first cryptocurrency platform, based on the Haskell code, an industrial product used for mission-critical systems. Cardano is one of the cheap cryptocurrency to invest right now.

Cardano Price for today is $0.083503. Its current circulating supply is ADA 25,927,070,538 with a market cap of $2,164,988,406.

#6 Tron (TRX)

In spite of its occasional increase, Tron is attracting more and more investors. The reason is that most of the investors are realizing its potential in the upcoming months. Buying when low is the holy grail in the cryptocurrency bible. Launched by Justin Sun, Tron is set on a decentralized platform. Fast and secured transactions can be made with the help of this currency. The main motive is to promote and support the entertainment industry which enables all the users to upload and download various types of media without the intervention of third parties like Google Play Store and other middlemen parties.

TRON cryptocurrency’s price for today is $0.031423. Its current circulating supply is TRX 66,682,072,191 with a market cap of $2,095,379,228.

#7 Nem (NEM)

Nem is different from other cryptocurrencies because of two main reasons. You harvest instead of mining as is the case for other cryptocurrencies. The other concept is proof-of-importance to determine who harvests the next block. NEM transactions take around 6 seconds to show up and 20 seconds to confirm. NEM is incredibly scalable which takes about 3000 tx/s where BTC is bogging down at 4 tx/s. Another advantage is that the transaction cost is ultra low, around .01% fee. So you need a penny to send $100 or 10 cents to send $1000.Isn’t that awesome?

Last, but not the least NEM uses 100x less power than BTC to run a node or harvest.

NEM Price for today is $0.084553. Its current circulating supply is XEM 8,999,999,999 with a market cap of $760,977,582.

#8 Binance Coin (BNB)

Binance is not only the world’s largest cryptocurrency exchange but its the name of a coin, too. BNB falls under the top 30 cryptocurrencies in the world by market cap. Binance has high liquidity and one of the assets which are superior in cryptocurrency trading. BNB offers great prospects in the long run as it increases steadily at times of turmoil, too. Since it has added 15 new tokens, it has seen around 50% adoption after that.

Binance Coin Price for today is $31.62. Its current circulating supply is BNB 141,175,490 with a market cap of $4,463,586,092.

#9 0x (ZRX)

0x is the latest and trending cryptocurrency that is grabbing the attention of the traders and investors. It is a decentralized exchange of ERC20 tokens and the users can directly place the orders from their Ethereum wallets. It allows much greater liquidity as compared to the other cryptos, so anyone using the protocol can access orders from anyone else. ZRX was in the news when Coinbase announced to list it the first ERC-20 token on its platform.

0x Price for today is $0.332269. Its current circulating supply is ZRX 597,577,999 with a market cap of $198,556,859.

#10 Ontology (ONT)

Ontology is a high-performance multi-chain focused on the creation of interoperable blockchain channels. Ontology is looking forward to an ambitious roadmap for the upcoming years. Ontology’s meteoric rise up the market capital makes it all the more interesting to watch their main net launch and other developments play out in the third quarter.

Ontology Price for today is $1.44. Its current circulating supply is ONT 494,757,215 with a market cap of $714,554,109.

Frequently Asked Questions (FAQ)

1. Which is the best cryptocurrency to invest in 2021?

We have mentioned the top cryptocurrencies you can consider while investing. You can choose any of these.

2. Which crypto has the most potential?

The above-mentioned cryptocurrencies have a lot of potential to grow and succeed in the future.

3. Is it safe to invest in cryptocurrencies?

There are millions of cryptocurrency investors across the world and most of them have profited from it.

4. How many cryptocurrencies are there?

As of October 28, 2019, there are 3047 cryptocurrencies as per the coinmarketcap.

5. What is the cheapest cryptocurrency?

There are many cheap cryptocurrencies, which is available under 1 USD, you can find the list here.

KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

With one month passed in 2020, it’s time to delve slightly deeper into proven ways to earn free Bitcoins. BitCoin (BTC) offers money-making opportunities for people with an entrepreneurial spirit. This digital asset makes starting an online business faster and easier than ever before. If you want to know how to earn bitcoin fast, let’s explore the bitcoin earning tricks and the most profitable ways to earn free Bitcoin in 2021.

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1. Gambling

People usually lose money by falling for scams. Moreover, you would typically lose money overall when gambling. If an offer asks you to make a payment without notifying what you’re getting in return, there’s a fair chance it’s a scam. There are true and legitimate ways of getting small amounts of bitcoin for free on bitcoin gambling sites.

These sites are legitimate as online gambling with any other kind of currency. Though these sites might be full of ads or malware, and you’ll typically lose money overall, but you may get a free bitcoin from it.

2. Bitcoin Faucets

A bitcoin faucet is a certain feature on websites which steadily drips bitcoin. Like for instance, a website might dispense a fraction of free bitcoin every second as a promotion. It’s usually an extremely small amount, awarded to one user every few minutes. If a faucet holds visitors on a website, it may translate to higher ad revenue, increased engagement or other benefits for the site’s owners that make it worthwhile.

3. Bitcoin Games

Many online games award small amounts of bitcoin as a prize. Typically filled with advertisements, it works similar to bitcoin faucets. The bitcoin rewards engage gamers to play and view ads. Thus, the game has emerged a great source for advertisers to reach people by offering bitcoin prizes. This explains how-to earn bitcoins by playing games.

4. Referral Program by CoinSwitch

Earn Free Bitcoins At CoinSwitch Referral Program

Affiliate programs are used in all industries and also in the cryptocurrency industry. For example, you might refer a friend to a service and then you both get a discount, accrue rewards points or get a BTC or fiat currency bonus. Now you can earn free bitcoin instantly with CoinSwitch’s bitcoin referral program. So, start referring your friends and earn 5 USD when they make a transaction of a minimum of USD 100. In return, your friend earns 5 dollars, too.

All the payout will be made in BTC, and the BTC value in the dollar will be calculated when the referral transaction is completed. The minimum payout amount in this referral program is 0.005 BTC. Hurry up and get free bitcoins now at CoinSwitch’s Referral Program. This explains how to earn bitcoins on Android, also.

5. Mining

This is the oldest and most appealing way to earn Bitcoin instantly. With this fast, cheap, and low-risk, you can essentially make money for nothing. All you need is your own home computer to mine bitcoins. You may need Bitcoin Miner and then join a mining pool, which is basically a group of miners.

These miners make a group to mine bitcoin by combining their efforts and then split the rewards accordingly. The network of bitcoin mining is mostly dominated by big players with hundreds of thousands of dollars of computing power dedicated to bitcoin mining.

6. Microtasks

This is the easiest methods for how to earn bitcoins fast by only investing your time. All you have to do is do small tasks and earn small fractions of BTC for the time you spend. There are many websites that allow you to earn free Bitcoins in exchange for some of completing various tasks.

The tasks you have to do to earn free bitcoins varies from site to site, and some common tasks include watching promo videos, filling survey forms and playing games. And the latest method to earn Bitcoin is to test applications on phones and tablets.

7. Donations

To earn bitcoin instantly via donation, you have to work hard for it. You can create a website and ask for bitcoin donations on your website through a wallet address and QR code. Did you know BitPay helps your organization accept blockchain donations? And, Bitcoinerpro.com is a blockchain community funded project that accepts the donation. This donation is used further to improve the website and spreads cryptocurrency awareness towards future financial independence.

8. Salary

You can work for a company that pays directly to bitcoin. For example, if can freelance for a cryptocurrency business that has a reputation of a reliable service provider in order to get paid in bitcoin. Moreover, if you want, you might ask your employer to pay a part of your wages or salary in bitcoin.

After all, Bitcoin multiplies tenfold in value. So, more bitcoins means more value and it’s better than those ten cents of bitcoin you’ve earned from a game. Likewise, companies like Bitwage, a Bitcoin payroll company, has been delivering Bitcoin salaries to thousands of people since 2014, might truly help an enthusiast earn free bitcoins.

9. Writing and Research Info Products

If you are decent at writing and researching, then these skills can help you earn bitcoin. There are a lot of bitcoin-related websites or other types of bitcoin businesses that need content written for various purposes – sites, blogs, use for marketing purposes, sell to others. These businesses are willing to pay good money for someone else to write it for them. Moreover, they own bitcoin and will be willing to pay you with it in exchange for your writing services. So, you can offer up your services on platforms like BitGigs and Coinality, and ask them to pay you in bitcoin.

10. Selling Products & Services

Selling products and services is one of the best ways to earn free bitcoins. You can make money selling any type of product or service, and accepting bitcoin as a payment method. Many online retailers are now taking bitcoin as one of their payment options. Further, there are sites like Bitify.com and Purse.io out there where you can specifically sell things in exchange for bitcoin.

11. Get Tipped

You can earn Bitcoins as tips by accepting it as a means of payment. All you need is a wallet, a QR-code with your BTC address on it and the people who could give you a tip need to be aware of it. For tips, you can display QR code in your shop for tipping or display the QR-code at the bottom of your website or blog. Bitfortip or bctip is another way to get tipped online. These sites offer little paper vouchers with a Bitcoin balance to its customers. Customers, in return, can simply give it to you or your employees or can redeem it like a coupon. This explains how to earn bitcoins for visiting free websites.

12. Trading

Arbitrage has always been considered the safest way to make money with trading. It offers you an opportunity to buy a certain asset at one place for a certain price and then sell it immediately at another place for a higher price. Cryptocurrency market does offer such arbitrage opportunities.

You only have to look for the concrete opportunities on Bitcoin StackExchange. Focus on the price differences between exchanges, the speed of fiat money transfers and access restrictions to find the opportunities. If you manage to somehow earn Bitcoins from arbitrage, you get a hold of Bitcoins fast. Bit4coin is a cryptocurrency exchange site where you can try arbitrage and the best part is that the site does not require signup.

So, what are you waiting for? Earn extra income by investing your time and skill in Bitcoin. Finally, it’s up to you to find the right way for you to cash in on the bitcoin craze.

Frequently Asked Questions (FAQ)

1. How can I get Bitcoins fast?

The ways, we have mentioned above are the ways to get free Bitcoins, but if you want t get it fast, you can go for the CoinSwitch Referral Programme.

2. How can I get free Bitcoins without mining?

Apart from mining, there are eleven more ways mentioned, you can go for any of these, as per your feasibility.

3. How can I get free Bitcoins in India?

Mining can be done anywhere in the world, but you must remember the individual country’s restrictions, before going ahead.

KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

As we know, obtaining Bitcoin is extremely difficult, Ethereum mining is still possible in pool. Ethereum mining software connects the mining hardware to the mining network and the pool, without which, you won’t be able to load the money on your wallet and exploit the hardware.

Even Samsung has recently announced that they will be designing chips for mining, and that can lead to something great. Before getting to choose the Ethereum mining software, there is a set of prerequisites that you must have:

  • Ethereum GPU
  • Ethereum Wallet
  • Mining Pool

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Best Ethereum Mining Software

The top 5 Ethereum Mining Software are:

  • Claymore
  • CGMiner
  • MinerGate
  • Ethminer
  • Geth

#1 Claymore

Claymore is one of the most efficient Ethereum mining software as it has dual Ethereum miner that lets you mine similar algorithm cryptocurrency without compromising on the hash rate. The best part about Claymore Ethereum miner is that you can mine other coins also apart from Ethereum. The other coins include Pascal, Decred, Siacoin, and Lbry.

The mining fee is 1% and if you go for dual mining, the fee will be 2% It is being supported by Windows and Linux operating systems, one of the best Ethereum mining software for Windows 10. Just ensure that the settings are done correctly so that there are no unwanted errors. You can get detailed statistics of the hash rate and can monitor or control a wide spectrum of things such as temperature, GPU selection, overclocking, etc.

#2 CGMiner

CGMiner was introduced six years back, written in C++, which is why it is compatible with almost all the platforms. The program works with a simple command interface, which is the reason it can work with multiple mining pools and devices.

Even if CGMiner is designed as an Ethereum mining pool software, you have the option to use GPU. This is good for beginners as you just simply have to enter the username, URL and password, then select the mining pool and your hardware will be defined automatically.

Needless to say, the user interface and command settings are simple. It is one of the basic, free Ethereum mining software where the Ethereum mining calculator helps one monitor and track the hash rate.

#3 MinerGate

MinerGate is one of the best Ethereum mining software for Mac users. You can switch to various cryptocurrencies and you will get notified on the most profitable one. The fee varies from 1 to 1.5% depending on the coin mined. The miners can mine BTC, Ethereum Classic, Monero, DASH, Zcash, Litecoin, and a few other tokens apart from Ethereum. The authorization is pretty straightforward as you just need to give the username and password. Overall, MinerGate is not complicated and can be beginner-friendly and supports several languages.

#4 Ethminer

This mining software is specifically designed solely for Ethereum, as the name suggests. Ethminer is supported on Mac, Linux, and Windows which is a plus point, so you don’t have to change the operating system. For Ethereum Classic, Ethminer is the best one as per the reviews. Ethminer enables you to obtain all coins based on ETHash algorithms like Ethereum Classic, Musicoin, Pirl, Metaverse, Expanse, Ellaism and many more.

Ethminer also gets a 1% dev fee. The Github repository offers features such as farm failover, OpenCL mining, stratum mining without proxy and many more. Ethminer is mostly designed for Nvidia graphics cards, it might not work appropriately with other Ethereum mining hardware bands. This is one of the best Ethereum mining software Windows 7 Nvidia.

#5 Geth

Geth was developed by the Ethereum team themselves and often considered as the original miner. You can earn Ethereum mining alone as it’s safe and reliable and provides a wallet, too. Geth allows you to transfer funds between addresses, view history of other blocks and create contracts. Geth looks like the safest option, as its compatible with Windows, Mac and Linux and the developers keep on updating regularly.

KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.