If you are just getting into the crypto world, it might be intimidating to see the prices on the major coins. Bitcoin for example has crossed the value of 65,000 US dollars and Ethereum has reached over 4000 US dollars in value. These figures make it nearly impossible for you to purchase even a fraction of these coins. But this does not mean that there are no other valuable coins that you can invest in.
No doubt that you may feel like you are late in the game when you look at the existing prices but there are still many new coins that are being created almost every day. However, it is difficult to trust any new coin because you have no guarantees of their success and there are decent chances that you could lose a substantial amount of your investment if you invest in something that has no history. There are a lot of investors and traders who guide how to buy cryptocurrency in the US .Click here for more information.
But there are still other coins that have shown substantial growth in a short period of time and have immense potential. And their price is fairly reasonable at the moment that you can enter the market with a fairly small capital. There are several cryptocurrencies that have gained a decent amount of market capital and among these, there have been some that have reached unbelievably high rates, which makes them an amazing investment opportunity at the time being.
For anyone interested in building their cryptocurrency portfolio, it is important to make the right kind of investment and we are here to lay down 5 of our top favorite investment options. We have chosen the following 5 options based on their recent performance and also some analysis of their future potential.
Table of Contents
1. Solana (SOL)
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Over just a period of a few days, SOL has shown some amazing gains. Just a few days ago it was valued at around 140 US dollars and now it has crossed the 200 US dollar mark. There are many people who believe the SOL has the potential similar to ETH and that right now is the best time to invest in Solana especially if you want to build a long-term crypto portfolio. Even otherwise, the current price action of SOL makes it a great option for trading as well.
2. Cardano (ADA)
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Another acclaimed name in the crypto world is called Cardano (ADA). It is a ‘proof-of-stake’ blockchain, which is what sets it apart from other options in the cryptocurrency market. This blockchain technology uses staking of crypto holders as validation to authenticate transactions. This means that a participant of such a transaction is required to stake a certain value of their ADA.
As far as growth is concerned, ADA has seen a steady growth in the recent past and the current value of this coin is only 2 US dollars, which makes it an attractive option for people who are just entering the market.
3. Polkadot (DOT)
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If you look at any of the most popular exchanges and go to their top trading pairs, it is very difficult to miss Polkadot (DOT). This is so because over the past few months, DOT has shown a very steady and stable growth and this trend has been continuous as opposed to other coins that show irregular gains. The predictability and stability of the price action makes it a very attractive option.
4. Terra (LUNA)
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Similar to DOT, Terra (LUNA) has a current price of around 40 US dollars, which is an attractive price point to enter the market and be able to purchase a decent number of coins with not too much capital. This coin has also shown a fairly steady growth instead of being abrupt and for this reason it is an easy recommendation for us.
5. Steller (XLM)
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Last but not least, Stellar (XLM) deserves to be on this list in our view. The factor that distinguishes XML from other options is the fact that it is based on a distributor ledger network and this network is also compatible with the blockchain system. Since XML is not bound to policy restraints of standard currencies, the primary focus of XLM is towards facilitating cross-border transactions. Another notable feature of Stellar is the amazing network speeds, which makes a better option than other cryptocurrencies.
These are just a few options from the endless options out there. We strongly encourage you to do your research and find the best options for you but more importantly, do not be discouraged by the high prices of some cryptos. It really is better to enter the market late than never.
Final Words
If you want to be a short term trader, you need to understand that you will make a lot of profit only if you trade in currencies that are not very volatile. This is especially so in the case of the new investors who do not yet have a good understanding of the dynamics of the market. In this case, they often focus on the growth of the value of a particular currency, ignoring its price movements.
They fail to look at fundamental factors that influence the fluctuations of the value of a certain currency. These traders who are interested in learning some important tips for bitcoin trading often end up making mistakes.
One of the most significant tips for anyone who wants to earn profits in this kind of business is to be aware of the risks involved in using this kind of alternative currency. As an alternative to conventional banking, people usually deal with greater losses. To succeed in this field, you should get to know some basic things about the dynamics of the industry. It is very important to take a good look at how the dynamics influences the performance of the decentralized currency system. If you do not know much about cryptocurrencies learn about it, there are many websites that provide educational materials. Just sign up for one of them and learn about virtual currencies.