Crypto day trading has gained a lot of traction as of late and more and more people are opting for it to make some quick profits. If you want to join this bandwagon, you ought to know about the best options available for you in this regard.
The following are the 3 cryptos that ideal for you if you would like to day trade. Read on to learn more about them and what makes them better than the other crypto assets available in the market.
Next to Bitcoin which is the leader of the pack, Ethereum is very popular crypto right now globally and most traders prefer it owing to its stability and high profitability. Another important reason for its popularity is the fact that is a blockchain platform. With this particular platform, it is doable to construct new tokens and carry out the development of decentralized applications.
When you talk about day trading, a decent amount of volatility is precisely what offers a terrific opportunity to make a profit in a short period of time which is an added benefit as you do not have to wait too long to achieve this profit. Ethereum is also listed on most of the global crypto exchanges, hence making it quite simple to trade. Most crypto trading platforms also support this crypto asset that hundreds of traders and investors choose to invest in.
The majority of the crypto traders around the world agree that Tether is one of the most ideal and best cryptocurrencies for crypto day trading. The most appealing aspect of it is that it is just priced at 1 dollar which is considerably less than most of the other cryptos out there. Apart from that and in case you are wondering, there a number of reasons why Tether is one of the best cryptos in the market for day trading.
Currently, Tether has a sizeable trading volume. In order to be more accurate. Tether garnered a lot of spotlights lately for boasting one of the largest 24-hour trading volumes. This aspect is very important to the global crypto market for traders. Such a high volume of trading is also one of the key reasons why more and more crypto traders are gravitating towards it. Although most crypto traders and investors firmly believe that the price will not decline below 1 dollar, the price did actually fall slightly below this threshold some time back. However, overall, Tether is a very stable and safe crypto coin that does not experience too many fluctuations in the market. Hence, it barely comes as a surprise that Tether is a part of this list!
Just a couple of years back, a leading crypto exchange in the global market released their very own crypto which they called the Binance coin. Since its release, it has become very popular crypto that many traders trade and invest in. Also, most day traders tend to naturally trust this Binance coin since it’s the own offering of the exchange platform. Another important reason why the Binance Bitcoin is preferred by the majority of the day traders around the world is owing to its increased demand globally. Furthermore, this trend is expected to increase even more in the coming years so this is a global opportunity for any day trader who is looking to make quick profits. It is priced at just more than 550 dollars and is the perfect crypto to begin with day trading.
To conclude, regardless of what crypto coin you choose to invest and in and what your earlier experience is with crypto day trading, it is only wise that you do your own research into all of the coins you are considering to invest in. When you do your own research, you can better decide which one is worth investing in. You can also discuss this with your broker in this matter who will be happy to guide you as per your budget and crypto trading goals. That said, if you are keen on day trade, then the abovementioned cryptocurrencies mentioned in this list are most probably your best choice as they are the most popular in the market right now.