The virtual trading industry has flourished with new investors and traders in the last six months. Some of them ventured into the virtual markets due to the profits from Ethereum and Bitcoin. Some investors gained interest from following celebrities and prominent individuals such as Elon Musk. However, if you are new in this space, things might be challenging at first. You may find yourself investing with scam platforms, losing your private keys, sending your coins to the wrong addresses, and other things.
For that reason, this content will direct crypto traders who want to execute their trades. If you are a newbie in this industry, you will understand the different facets of online trading. Professional crypto enthusiasts can use the information to refresh their knowledge about the basics of the crypto market. If you are a new trader, here are the popular crypto investment options and their advantages.
Bitcoin is among the popular digital coins you will find in the cryptocurrency industry. Besides being the first one in the crypto space, BTC is the world-leading digital coin. Since the asset has been operating for over a decade now, most traders prefer it for secure investments. Is there anything more?
Starters can use bitcoin as a store of wealth. As the US dollar is losing its buying power due to inflation, Bitcoin is gaining enormously. BTC has proven to be a store of wealth, outperforming most traditional products such as gold. Institutional investors prefer investing in Bitcoin.
It is the second-largest digital coin as far as the market cap is concerned. ETH is a free software blockchain using the smart contract. With that, the currency has gained massive mainstream acceptance as the latest smart contracts replace traditional infrastructure. Many crypto projects are now adopting ETH blockchain with its infinite applications, creating smart resolutions to different industries. Most crypto brokers have Ethereum for their clients to benefits from its high liquidity.
New cryptocurrencies are popping out daily. The recent one is Dogecoin (DOGE). Is cryptocurrency flourishing because of market advancements or due to influential individuals supporting it? DOGE has recorded massive gains after Elon Musk supported it.