Beginners should go be aware of the investment strategies and they should always be sure of the coins or tokens that they are going to invest in. As a beginner, one should carefully do the background check and follow the market updates about the popular cryptocurrencies, preferably the top 5 cryptocurrencies as per the market capitalization. The beginners who are new to the cryptocurrency market need to do a lot of research, and must not trade based on instincts but as per the daily chart and market trends. A basic understanding of the resistance and support level would suffice. You can learn about how to start cryptocurrency trading here.
Bitcoin is the most popular and the largest cryptocurrency in the world as per the coinmarketcap. Bitcoin was even one of the oldest of the cryptocurrencies, which became famous as a payment system, which can handle millions of transactions after the lightning network took place. It has been high on adoption rate all across the world and faced several ups and downs. Most of the crypto enthusiasts support Bitcoin and they believe that Bitcoin would reach greater heights.
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Ethereum is the second largest cryptocurrency in the world, which initiated the smart contract technology, and has a strong community behind its development. It has one of the largest asset community backed with Ethereum blockchain, and those tokens are known as ERC20 tokens. The best part is that it is available on almost every exchanges and can be stored in various wallets, which supports various devices and operating systems.
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Ripple is the company and XRP is the token which is the third largest cryptocurrency. It is a network of institutional payment providers, which has its own patented technology known as Ripple Protocol Consensus Algorithm (RPCA), which is used for low commission currency exchange, payment ecosystem and fast international transactions. Already many banks like Axis, Yes Bank, Westpac bank and much more support XRP. This is one of the best coins for cryptocurrency trading for beginners.
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Bitcoin Cash was the first hard fork of Bitcoin, which became this famous and is one of the topmost cryptocurrencies as per the market cap. Bitcoin Cash underwent a hardfork last year in November. Bitcoin Cash has a big user community and has a very promising roadmap ahead, which is why it is being accepted across the world and became the recent favorite. For a beginner, BCH can be regarded as one of the best coins to invest.
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Litecoin is a peer to peer cryptocurrency that uses the same encryption techniques as Bitcoin but Litecoin has a faster transaction confirmation rate and recently been upgraded with fungibility along with privacy and scalability. Litecoin is an improved version of Bitcoin and you can certainly consider investing in Litecoin as a beginner. Litecoin is available on most of the popular exchanges and is supported by most of the wallet partners.
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CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!
2019-06-07 08:03:12.732274 | 2 min