Spot trading has become one of the most common ways to buy and sell crypto. Although spot trading has its risks, it has low barriers of entry and is open to literally everyone. But you need to be very careful when choosing assets for spot trading. Here are some attributes to consider:
Cryptos for spot trading must have very high trading volumes
You also want highly volatile assets that swing fast.
The assets must also be available in all major centralized exchanges.
With that said, if you are thinking of dipping your toes into the world of crypto spot trading, these are some of the best coins to consider:
Bitcoin (BTC) is the biggest crypto and one of the most recognizable in the world. If you are going to spot trade, then BTC will need to be part of that calculus. The most important thing about BTC is the large daily trade volume.
This means that there is enough liquidity in the market to ensure orders to buy or sell are filled with minimum or no slippage. BTC is also spot traded in the biggest exchanges in the world and is accessible to everyone.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) was created to provide the foundations over which payment systems can be developed in the decentralized economy. It’s related to Bitcoin in a way, but it is an asset of its own. However, just like BTC, BCH has large trade volumes each day. There is also a huge market cap to deal with so chances of making returns are high.
Shiba Inu (SHIB)
Meme coins have always been great for short-term speculative trading, and there is no better meme coin out there than Shiba Inu (SHIB). The token is prone to a lot of daily volatility and trade volume as well. SHIB can also be purchased from a lot of exchanges.