With the invention of Bitcoin in 2009, cryptocurrencies have gained a steady rise in popularity. People are becoming more and more accepting and interested in digital assets, NFTs, and cryptocurrency. An estimated seventeen percent of the American adult population has invested in crypto, and surveys show that millennials and Gen Z are looking into digital currency with growing frequency.
Not only that, we can see that a lot of countries have decided that they want to create their own national cryptos. The finest example of how it will look is the Chinese digital currency called Yuan Pay. We can see those counties like Russia, South Korea, and some European countries have announced that they have started working on their own. Despite the popularity, this concept has gathered over the years, we can see that many governments are trying to suppress it. The finest example of this approach is India.
Still, a lot of people are not aware of this concept. More still are aware, but uninitiated in the world of digital assets, blockchains, and mining. And with thousands of different those permeating the market, a lot of prospective investors have no idea where to begin. If you take a look at the market, you will see what we are talking about. Naturally, not all of those can be described as significant participants on the market. Of course, there are big boys like BTC, ETH, etc.
That’s why anyone who would like to participate in this market needs to be fully aware of all the factors traders come across frequently. For the newbies in the world of crypto, interested in making an investment, but with no idea where to start, this article is going to explain a bit about the world of crypto trading, as well as elucidate the three best cryptocurrencies on the current market. Without further ado, let’s take a look at what we can say about this topic.
What Crypto Trading is and How it is Done?
Crypto trading is the process of buying and selling cryptocurrency. The process involves speculating on future prospects when it comes to crypto, and investing, or selling assets, accordingly. There are a number of ways to exchange FIAT money for cryptocurrency, such as using Bitcoin ATMs. Bitcoin ATMs are kiosks with internet access, that allows for exchanging real-world currency for digital currency. Most Bitcoin ATMs take a 15-20% fee, which is why a lot of people prefer to use online trading sites or apps.
Online trading apps take smaller fees, offer a user-friendly, beginner-friendly interface, which allows new investors to trade a lot more easily. Many of the websites incorporate Artificial Intelligence technology to read and predict market fluctuations, in order to ensure their user-base gets maximized returns on their investments. Thankfully, there are some services that can provide you with on this journey.
On top of these services, sites like BitcoinPower provide a safe, and secure network that allows users to view their investments in real-time, as well as ten free withdrawals per month, with only a 1% fee when the amount is exceeded. It needs to be said that not all of those will prove equally useful and effective. That’s why it would be beneficial for any trader to take a look at some online reviews and specialized forums on this topic. While many don’t consider these two sources as credible, believe us they are.
Just think about it, people who write these have experienced that particular software first-hand. Of course, you shouldn’t listen to all of these. In fact, take a look at those who have the most details written into them. That way, you will establish some kind of idea about what you can expect from using these. Without a doubt, you should be really careful. Now that you are aware of the process of trading and how you can do it, let us take a look at the three dominant cryptocurrencies currently on the market.
The first cryptocurrency that we are going to look at is Tether. Unlike the following two, Tether is a stablecoin, which means its value is static and estimated at one dollar. Stability is the main appeal of Tether, as it is unaffected by the volatility associated with cryptocurrency. While many people make the mistake of believing that they cannot make a healthy profit from invest in this one, statements like these are certainly not true. There are numerous reasons for this claim of ours.
Tether is the third most popular cryptocurrency to invest in, as it is stable, with a bright future. Most experts suspect Tether’s value will remain stable at $1, however, some believe that Tether’s value will rise by a small margin to $1.2. Just think about that, making a high investment into this digital currency can provide you with an exceptional chance to earn massive amounts in the future. However, the main quality is the stability it provides.
The second most popular, and most profitable cryptocurrency on the current crypto market is Ethereum, with an estimated value exceeding two thousand dollars. Ethereum’s stocks have seen a steady rise of around 11%, with experts estimating we will see an even greater rise in the coming future, and may even reach a record-high $10,000 by 2030.
Maybe you know that ETH was also affected by recent statements made by Elon Musk. Since that day, ETH has experienced a decline. One of the main developers behind this project has said that they will create some sort of immune system for their product. The reason is that, despite cryptos being decentralized, some statements affected their price. Sure, developers will not allow that to happen again.
Last, but certainly not least, we have to look at Bitcoin, the undisputed king of cryptocurrency. Invented in 2009 by the mysterious Satoshi Nakamoto, Bitcoin is not only the first but undoubtedly the most profitable form of cryptocurrency. In March of 2021, Bitcoin’s value exceeded $70.000, and though the price has dropped, in recent months it has been at a steady increase rising by 5000 dollars in the past couple of months.
Currently, Bitcoin is valued at over $35.000, with estimations suggesting it will rise to an astonishing $100.000 by 2022. Experts predict that in the next decade, 99% of all Bitcoin will be mined, at which point a single bitcoin will be worth half a million dollars, an unprecedented sum for cryptocurrency.
The Bottom Line
As you can see, there are three main players in this market. They have established themselves as credible and relatively stable for a couple of years. Plus, some of them have experienced a massive rise recently, which had a great effect on their popularity. Without any doubt, you should check all of these three and make a proper investment. Also, follow the trends and maybe some new players will emerge in the future, who knows.