Crypto offers a new class of investment assets that have seen explosive growth over the last few years. More and more money is flowing into crypto, and as such, if you are thinking of trying your hand, then this is the best time. Here are some highlights:
The crypto market is filled with a lot of projects, each with its own merits.
As a beginner, it's often hard to decide what to buy.
But the key is to focus on coins that are more established with some name recognition.
Here are 3 of the best cryptocurrencies for beginner investors:
Bitcoin (BTC) is the biggest crypto by market cap and is seen as the gold standard as far as the crypto market is concerned. It has name recognition and has been trading for years.
Data source: Tradingview.com
You don’t need to do a lot of background analysis to know what Bitcoin is about, and besides, all the info you need to trade Bitcoin as a beginner is readily available. And finally, you can buy Bitcoin (BTC) in literally all major exchanges out there.
Just like Bitcoin (BTC), Ethereum (ETH) also has global name recognition since it is the second-largest coin by market cap. You will be able to buy and sell it in all major exchanges out there.
Besides, these days you don’t even need to buy a full ETH coin or even BTC. This makes the two coins ideal for small investments. Ethereum is seen as the foundation of the blockchain industry and has a lot of future potentials.
It is also important for beginners to have some investments in Stablecoins. This can help guard against volatility in the market. There are many Stablecoins of course.
But Tether (USDT) is a great option. It is ranked among the top 5 cryptos by market cap and has the same name recognition as Ether and Bitcoin. You can also purchase it in major centralised exchanges.