Best Top 5 cryptocurrencies to invest in 2021
First in the list of Best Top 5 cryptocurrencies to invest in 2022 is Tether: Priced at $1, it is considered to be one of the best cryptocurrencies. The reasons are many. Today, Tether has a large trading volume. To be precise, Tether grabbed attention for having one of the highest 24-hour trading volumes. No wonder why this is so critical to the cryptocurrency market. Such high trading volume is also one of the reasons why more traders are getting inclined towards it. Though there has always been a firm belief that the price won’t fall below $1, it was some time back that the price did fell. However, this being a stable coin without many fluctuations is what grabs attention and thus is among the top 5 cryptocurrencies.
Second, in the list of Best Top 5 cryptocurrencies to invest in 2022 is Ethereum: After bitcoin, Ethereum is the most popular cryptocurrency in the world. Yet another reason why this is popular is that in addition to being a cryptocurrency, it is also a blockchain platform. With this platform, it is possible to create new tokens and also develop decentralized applications. As far as day traders are considered, a good amount of volatility is what provides for a great opportunity to profit, and that too within a short span of time. Now that Ethereum is listed on most of the exchanges, it is quite easy to trade in the same. It is priced at $3850 and is thus one of the top 5 cryptocurrencies.
Binance Coin (BNB)
Third, in the list of Best Top 5 cryptocurrencies to invest in 2022 is Binance Coin: It was just a few years back that one of the most reputed exchanges released their own cryptocurrency – Binance coin. When traders saw a reputed exchange releasing their own cryptocurrency, the trust came in naturally. The reason why BNB is chosen by day traders is because of its growing demand. Priced at $560, this is an ideal currency to start with day trading. This makes Binance Coin one of the top 5 cryptocurrencies.
Fourth in the list of Best Top 5 cryptocurrencies to invest in 2022 is Tron: Tron has grabbed the attention of everyone across the globe for the developments it is associated with. This, in combination with high volatility, makes it one of the most favorable cryptocurrencies for day trading. Tron was initially created as a platform to clear all borders on the Web. Also, for every content that is exchanged, there is a reward. Since this platform has a valuable idea, Tron as a cryptocurrency is growing rapidly and is thus one of the top 5 cryptocurrencies.
Fifth and not the last in the list of Best Top 5 cryptocurrencies to invest in 2022 is EOS: The price of this cryptocurrency has reached heights multiple times. This throws light on the high level of volatility. Hence, making profits because of this volatility is worth a mention. With active team support available in most of the exchanges across the world, this is yet another feather in the cap and is thus one of the top 5 cryptocurrencies.
How can I buy cryptocurrency?
You can buy cryptocurrencies on a cryptocurrency exchange, such as Binance.
Cryprocurrency trading has been highly adopted across the globe with many platforms offering crypto exchange services.
However, for one to settle on one platform, you need to take several things into consideration; these include the security of your cryptocurrency, customer experience and usability (which includes fees), and technical support.
The best platform that I can recommend you to try is Binance (it’s my favorite).
Binance is a reputable cryptocurrency exchange company offering a top notch trading platform for various cryptocurriencies. Binance was rated the largest platform globally in terms of trades back in January 2018.
Here are the reasons why I chose Binance as the best:
When it comes to matters banking, security is the MOST important factor. Similarly, in any cryptocurrency platform, one needs to be certain of the safety of their wallets.
As a digital currency, cryptocurrency is faced with many security threats especially from hackers who develop advanced ways to overwrite set security protocols.
This means that one should choose a very high-tech platform that provides high encryption levels.
With Binance, the user enjoys a two-factor authentication, which helps them secure their logins and avoid loss of funds. Subsequently, Binance security team is highly vigilant to ensure that none of their users experience a security breach.
This can be affirmed by the incidence in 2018 where they were able to detect a hack where users’ logins had stolen. The security team was able to secure their users’ money and actually went ahead to use the hacker’s funds for charity. Smart move right?
Bottom line, since users are still familiarizing them with the industry, it’s important for the platforms to pay more attention to security.
Usability / Customer Experience
In this category, as a user, one is looking for a clear and well structured platform that provides maximum trader experience.
Binance has basic and advanced user settings where one can choose the one that fits their experience.
However, taking into consideration other reputable companies such as Coinbase and Kraken, Binance has a less user friendly interface for newbies. But with time, one gets used to the layout.
Despite this setback, Binance offers a very clear and advanced trading/exchange schedule that helps you make wise trading decisions.
Fees and Limits
For all platforms providing cryptocurrency exchange services, traders have to pay fees. These include deposit, trading and withdrawal fees.
Binance has no deposit or withdrawal fees since their major is on trading. This makes it stand out above the rest. As a trader you need to look for a platform where you can use a minimal cost to earn maximum profit.
Additionally, their exchange fees are amazingly low. In fact, Binance has the lowest trading fee in the industry with a charge of 0.1% on any trade. Subsequently, they go ahead to give you a 50% discount on trades with Binance Coin (BNB).
When it comes to limitations, Binance has no limits to how much you can deposit. However, if you are to withdraw more than 2btc worth crypto, they request for addition verification of your account for security purposes.
Varity of Coins to Trade with
The popularity of Binance has greatly been due to their list of different cryptocurrencies available for exchange. They have over 100 different cryptocurrencies unlike others like Coinbase where the major is Bitcoins with only 4 coins available (that is they provide the major cryptocurrencies only).
Subsequently, Binance is known for having huge volumes of trades happening all the time. This creates a better chance for you as a trader to exchange your cryptocurrency smoothly because at any given time, there are sellers ready to sell and buyers to buy your coins.
However, having discussed these advantages of using Binance cryptocurrency exchange, it’s important to point out a few areas that need improvement. This is to ensure that you are aware of these disadvantages before opening your account with them, hence giving you a chance to make strategies on how to succeed trading with them.
One of the disadvantages is that they have no phone support which is offered by Coinbase. However, there have been mixed reviews on their online support, but I would like you to check out their live chat which was added to their site
The other major disadvantage is that they don’t support traditional deposit methods. This means you can’t deposit using a debit or credit card which makes it hard for beginners to trade for the first time. As a beginner, you need to purchase cryptocurrency like btc using Fiat then deposit it to binance and start trading for other cryptocurrencies. Additionally, you can only withdraw cryptocurrency from Binance, not any other currency.
Despite these few disadvantages, Binance stands out as one of the best cryptocurrency exchange mostly due to its diversity of trades and low fees.
With this in mind I believe you can make a wise decision.
On the other hand, if you would prefer an alternative, I recommend Coinbase and Kraken as the international cryptocurrency exchange alternatives.
This is because the two are relatively popular platforms with similar advantages with Binance in terms of security, low trading fees, transparency, and customer experience.
One advantage of Coinbase and Kraken that surpasses Binance is that they allow use of credit/ debit cards to deposit. In fact Coinbase allows you to withdraw or sell using PayPal.
Therefore, I would suggest you take the two as alternatives.