The cryptocurrency industry has been growing at breakneck speed, gaining attention from millions of investors to the nascent industry. At first attempt, new investors are often overwhelmed by the thousands of investment options available in the cryptocurrency market and left confused about where to start.
With over 25,000 cryptocurrencies, the market provides a great opportunity for traders. However, new investors need to not only know good investments but find out the best investors for people making the leap into the crypto space. That is why in this article, we have researched and compiled a list of the five best cryptocurrencies for investors new to the cryptocurrency market.
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What You Should Know Before Buying Cryptocurrency
Before we discuss the best cryptocurrencies for beginners to buy, there are important things everybody looking to dive into the industry must first know. These facts would help new investors make the right decisions as well as maximize their investment:
1. Volatility
The first thing every investor stepping into the crypto space for the very first time should know is that digital assets can be very volatile. The incredibly volatile nature of cryptocurrency means that they can experience huge price swings either to the up or downside. This leads to our next point.
2. HODL
While cryptocurrencies have the potential of doubling an investor’s portfolio in a couple of days, the investors with the biggest rations hold for longer periods, or as it is known within the crypto space HODL. The cryptocurrency industry is relatively new, and the investors who would benefit the most are those that can hold their assets until maturity.
3. Go For A Balanced Portfolio
Every new investor to cryptocurrency should have an investment strategy to build a balanced portfolio even before beginning their journey. There are different types of cryptocurrencies including DeFi, digital assets, gaming, NFTs, exchange tokens, and others. Building a balanced portfolio would help you maximize your portfolio and prevent losses from putting all your money on a single investment.
4. Always DYOR!
DYOR – Do Your Own Research. Investing based on instinct or news is a risky business in the cryptocurrency space. Even when projects are recommended, it doesn’t replace the need for personal research.
5. Protect Your Private Keys
Your private keys are the gateway to your digital assets. If you go down the route of managing your private keys, you need to protect them like priced possessions. Losing your private key is like losing the address or pass keys to your personal vault. Protect your private keys to keep your investment safe. And depending on your location, you should watch out for the taxman as cryptocurrencies are taxed in many countries.
5 Of The Best Cryptocurrencies For Beginners
Now we know what to expect as an investor new to the cryptocurrency space, here are the five digital assets every new investor must buy:
1. Tradecurve (TCRV)
Tradecurve is a new hybrid cryptocurrency exchange combining the best features of the two major types of crypto exchanges – centralized and decentralized. As a hybrid exchange, Tradecurve retains the great user interface, high liquidity, and faster transaction times of centralized exchanges (CEXs) with lower transaction fees, privacy, transparency, and complete user control of private keys of decentralized exchanges (DEXs).
Hybrid exchanges like Tradecurve are growing in popularity largely because they solve the challenges of CEXs that have made them subject to regulatory scrutiny. Crypto market experts believe hybrid exchanges are the future of crypto trading. The platform also supports negative balance protection, ultra-fast order execution, low spreads, and powerful trading terminals to provide the best experience to professional traders.
More than a hybrid exchange, Tradecurve is building the first decentralized all-inclusive trading platform where users will be able to trade financial instruments from the over-the-counter derivatives market, including stocks, options, forex, commodities, and ETFs. Tradecurve will operate on the Ethereum blockchain, benefiting from its smart contracts functionality and diversity, while bringing the OTC market to the network.
Why Every Beginner Investor Needs to Buy TCRV
There are several reasons why beginner investors need to buy TCRV. First, it provides a secured future investment as its hybrid exchange platform is growing in utility while. Hybrid exchanges have been forecasted by experts to replace the current centralized exchanges because of the growing regulatory scrutiny of CEX. This makes TCRV a great long-term investment opportunity for beginners diversifying into cryptocurrencies.
Because Tradecurve bridges crypto with the over-the-counter derivatives market, which has been around for more than a century, investors can find security in Tradecurve and its TCRV token. In addition, the sheer size of the OTC derivative market, valued at over $632 trillion by the Bank for International Settlement in June 2022, provides great potential for the TCRV utility token, allowing TCRV holders to build their portfolios. The entry level price is very cheap compared to other coins from the list, one TCRV is $0.018 so hurry up before the price skyrockets in value.
2. Bitcoin (BTC)
Bitcoin (BTC) is the oldest and the most well-known cryptocurrency, making it one of the best digital assets for any beginner to hold. Bitcoin has been around since 2009 making it a reliable option for investors new to the cryptocurrency space. Many businesses from across the world are already accepting BTC as a payment option, making it a smart investment choice, particularly for new investors.
As the oldest cryptocurrency, market analysts would often recommend Bitcoin as one of the first digital assets to acquire when investors are looking to diversify their portfolios. Companies like Tesla, MicroStrategy, FRMO Corp., Galaxy Digital, Block Inc., and Exodus Movement have added Bitcoin to their balance sheet, proving it to be a great investment option.
Launched only in 2009, Bitcoin is still in the early stages of its development, with many regulators from across the world still struggling to find the best way to regulate the asset. With regulations in place, the adoption of Bitcoin is predicted to go mainstream, allowing the asset to find more use cases and utility than it currently enjoys.
Why Every Beginner Investor Needs to Buy BTC
Adding Bitcoin to your portfolio is an obvious decision because it is the most widely accepted cryptocurrency and it adds a sense of security, which only very other digital assets can provide. Recently, institutional investors have been acquiring Bitcoin at a massive rate, setting it up for even more growth in the near future. Also, most of the growth in the cryptocurrency market often stems from Bitcoin.
Bitcoin is also a deflationary asset with a limited market cap (21 million coins). This means after 21 million BTC have been mined, there will be no additional coins being added to the supply in circulation – this relative scarcity of BTC is another factor many experts believe will drive the price of Bitcoin higher than it currently trades.
3. Ethereum (ETH)
There is a very famous quote in the crypto space “If Bitcoin (BTC) is the Digital Gold, then Ethereum (ETH) is the Digital Silver.” Closely behind Bitcoin, Ethereum is the second-largest cryptocurrency by market capitalization. While Bitcoin focuses on cross-border transactions, Ethereum goes down a different path, introducing smart contracts to the blockchain space.
The introduction of smart contracts has allowed Ethereum developers to build decentralized applications (dApps), non-fungible tokens (NTFs), cryptocurrencies, and other protocols that have allowed Ethereum to become an ecosystem of projects. These dApps on Ethereum often provide real-world use cases and solve problems in the traditional finance sector, attracting millions to the network.
The Ethereum development team has also been working on scaling the network to support more development and allow dApps and smart contracts to operate faster on the network. This will inadvertently attract more development to the Ethereum blockchain. The entire Ethereum ecosystem is powered by its utility token, ETH or Ether. Because the ETH is used across all the protocols on the network, it is one of the most utilized digital assets, making it a stable and great investment opportunity for new investors.
Why Every Beginner Needs to Buy ETH
Ethereum may be behind Bitcoin in terms of valuation, but it is miles ahead of the competition thanks to a thriving decentralized finance (DeFi) ecosystem. As the pioneer and biggest DeFi ecosystem challenging traditional finance, Ethereum’s network token, ETH, could see more use than every other digital asset in the future.
Experts have predicted that the growing utility of ETH could cause it to challenge Bitcoin in terms of valuation, making it a smart investment option for new investors. The utility of ETH in the Ethereum network also makes it one of the more stable digital assets. As Ethereum’s network expands, the ETH will see more use cases, causing its value to increase. Ethereum has great potential to rise in the future while providing relative security that beginner investors need.
4. Tether (USDT)
Tether (USD) is the world’s largest stablecoin pegged to the U.S. Dollar, with a market cap of over $83 billion. A stablecoin is a digital asset whose value is pegged to a commodity or currency but in the case of Tether, the U.S. Dollar. Because of the volatility of cryptocurrencies, stablecoins like Tether were created to provide a relatively stable price for investors.
Not only is the USDT the biggest stablecoin, but Tether also releases frequent reports showing that the USDT reserves are 100% backed by matching fiat currencies. Tether has reserves stored in U.S. treasury bills, overnight reverse repurchase agreements, money market funds, cash & bank deposits, and non-U.S. Treasury Bills. The USDT is one of the most stable–stablecoin withstanding several attempts from large institutions to depeg its 1:1 to the USD.
Tether places a premium on quick and easy transactions, allowing users to send and receive the stablecoin without paying any fees. In addition, Tether doesn’t charge any fee when users convert USDT to other digital assets, making it the perfect bridge token to be used within cryptocurrency.
Why Every Beginner Investor Needs to Buy USDT
When talking about cryptocurrency investment, Tether might be an odd addition, but holding it can help new investors hedge their funds when other assets are highly volatile. In the case of a bearish market, new investors can use the stablecoin as a means of securing their financial positions from huge losses. In addition, investors can hold Tether and now worry about the volatility of the market until they find a suitable investment within the crypto space.
Not only can Tether help beginner investors to protect their portfolios, but it can also help them grow their finances. There are several DeFi protocols on Ethereum and other blockchains where investors can deposit their USDT holdings and earn interest up to 12% per annum. The lack of price volatility while offering earning opportunities makes USDT one of the best cryptos for beginner investors.
5. Shiba Inu (SHIB)
Within the crypto space, Shiba Inu (SHIB) is known as a meme coin – light-hearted digital assets often based on animals or comical or animated memes. Shiba Inu is based on the Shiba Inu hunting breed of dog from Japan and has become one of the most popular cryptocurrencies in the market. Shiba Inu (SHIB) ranks in the top 20 cryptocurrencies by market, a remarkable achievement for a meme coin.
Shiba Inu was launched by a pseudonymous developer in August 2020 and was sold as the replacement for the original meme coin, Dogecoin. Shiba Inu quickly became popular thanks to powerful community support from the Shib Army and notable figures like Elon Musk and Vitalik Buterin.
Why Every Beginner Investor Needs to Buy SHIB
Although Shiba Inu started out as a meme coin, the project has steadily been evolving into a digital asset with major use cases. This can be seen with the creation of ShibaSwap, a decentralized exchange (DEX) platform, the building of a Shiba Inu metaverse, and the recent launch of a Shiba Inu layer 2 blockchain network – Shibarium.
Holding SHIB for a new investor will not only help them diversify their portfolio but presents a unique opportunity to build it as well. As development progresses on the Shiba Inu blockchain network, crypto market analysts have predicted a major rally for the SHIB token. With one of the most-active cryptocurrency communities, the Shib Army is more than capable of driving the price of the token when the Shibarium launches in the second half of 2023.
In Conclusion
The five digital assets listed above provide a diversified portfolio as well as a different dimension to what new investors look for in the cryptocurrency market. As a new investor, before putting your funds behind a project, you should do extensive research to understand how it works, its goals, its development team, and future aims.
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