Best Cryptocurrency to Trade?

There are quite a few cryptos in existence today – knowing all of them isn’t feasible. So how do you know what is the best cryptocurrency to trade? Luckily, only a handful are widely available on trading platforms which allows us to narrow our focus!

Bitcoin

You will undoubtedly have heard of Bitcoin if you are on this site. It has the largest market cap of all cryptos and is constantly a feature in current news. It is currently the best cryptocurrency to trade.

Created in 2008, Bitcoin was the first ever cryptocurrency. Today, it remains the primary crypto for investing and trading. It is extremely resilient, having taken hits as hard as a 50% drop in value and recovering to only become stronger.

Bitcoin is rather narrow in its focus and operations. However, it is able to distinguish itself from other cryptos because of its history. As a peer-to-peer cash system, there is simply no other coin as successful.

Bitcoin reached a peak of almost $20,000 in December of 2017. This is the highest value reached by a crypto so far.

Due to the popularity of Bitcoin it is without doubt the best cryptocurrency to trade at the moment.

This is because it has the highest trade volume – it is traded the most out of all cryptos. That means it has more movement as well as lower trading costs.

Ethereum

This is not your typical cryptocurrency.

Ethereum is actually the name of the platform and Ether is the currency.

Ethereum runs on a decentralized public network – like Bitcoin.

Where these two differ, however, is that Ethereum is a platform. It provides a foundation for applications to be built upon. Yes, you can create apps on the Ethereum blockchain – an exciting prospect for the future! They are known as decentralized apps or “Dapps”.

Ether has been at the top of the crypto world for some years now. It is consistently in the top 3 cryptos in regards to market cap.

The full applications of this kind of software are still being discovered. Even the creator struggles to define exactly what Ethereum is. The future for Ethereum is certainly one to follow!

As a result, this technology is pushing the boundaries of our digital society. For many, this makes it a solid investment choice.

Ethereum is arguably just behind Bitcoin in terms of its tradeability. In our opinion, it is the second best crypotcurrency you can trade.

Litecoin

Released in 2011, Litecoin is one of the oldest cryptocurrencies out there.

Based upon the idea of Bitcoin, this currency aims to further reduce transaction times and fees. The transaction times are around 4 times quicker than Bitcoin’s.

Due to this, it has gained a reputation as being the silver to Bitcoin’s gold.

Another difference between the two are the number of Litecoins that can exist. Bitcoin will max out at 21 million coins – Litecoin’s coin cap is 84 million.

Litecoin is consistently in the top 5 cryptos making it one of the most popular coins to trade and invest in.

Ripple

Released in 2012, Ripple has seen recent success in the cryptocurrency market. It is seen as a strong competitor among the big cryptos, recently taking the number 2 spot in market cap from Ethereum.

Boasting cheap and fast transactions, Ripple interestingly requires no mining. This has caused a polarized view of Ripple in the crypto community.

This crypto is not decentralized and enables banks to process international transactions in a faster, cheaper, and more secure way.

As such, Ripple could very well be adopted by banks in the future. The potential for adoption makes this crypto one to watch.

It is, however, not universally offered by brokerages and exchanges as the previous 3 coins are. This results in a reliance on specific brokers if you want to trade this coin.

Ripple is a strong contender in the crypto world, but in terms of the trading market it still has room for growth and improvement.

It’s volatility is great, but it is more sensitive to news which can be difficult to trade with. If you are looking to trade this crypto you need to understand its news releases!

We add coins to this section when they are widely adopted by brokers.