Firstly, an investor needs to have a source to buy cryptocurrencies. This can either be done through cryptocurrency exchanges or other service providers like PayPal.
In order to explore management tools read about choosing the right cryptocurrency exchange here. After selecting the appropriate exchange, the investor will also require a cryptocurrency wallet to store their virtual currency.
Get all the information about that here. Here are certain links in order to get a glance at Crypto Trading and Volatility.
Top Virtual Currencies for May 2021
BEST VIRTUAL CURRENCY FOR MAY 2021
Named as the king of all cryptocurrencies, Bitcoin is the first of its kind to have the highest liquidity value. It is aiming to become fully decentralized globally and provide peer-to-peer digital cash with no regulations.
In a volatile market, Bitcoin is seemed to be the most stable one. Bitcoins have seen greater popularity, demand, and adoption, since their introduction in the world.
It is still expected to grow manyfold in the coming years. In the future, many businesses are looking to authorize Bitcoin as the mode of transaction.
Bitcoin’s price today in USD: $58,120.22
Read more on Basic Concept of Bitcoin Taxation in India
Litecoin is the second on the list due to its market capital and liquidity value. Litecoin provided 84 million coins with a block reward of 12.5 LTC, higher than other cryptos.
For miners, Litecoin is faster than any other cryptocurrency as the average time for a Litecoin is just two minutes. Its growing popularity is making it the best.
Litecoin’s price today in USD: $388.92
Ethereum being the first cryptocurrency to introduce smart contracts, allowed developers to create desktop and mobile decentralized applications powered by blockchain technology.
It has maintained top position in the world of cryptocurrencies ever since its inception and has a loyal team of investors who vouch for this cryptocurrency. Ethereum is considered to be more stable, after Bitcoins.
Ethereum’s price today in USD: $4,066
Cardano is an affordable cryptocurrency that is becoming a cult favourite of all, in a very short span of time. Since 2015, it has been a strong player in the market with its Ouroboros blockchain. Such a blockchain constitutes of two blockchains instead of one. While working, one blockchain will manage general ordinary transactions while the other will manage smart contracts. The reason being the ability of Cardano to remain scalable and fast as the speed of transactions will not slow it down. The Cardano investors mainly constitute the people from Japan, hence it is also known as the “Japanese Ethereum” because it uses the Proof of Stake algorithm which Ethereum has been planning to do.
Cardano’s price today in USD: $1.75
Investors looking to diversify their portfolio, look no further than Binance Coin. Its parent company, Binance, has a strong business history that has created a useful ‘utility token’. The value of Binance Coin comes mainly from its usefulness and its demand which is for traders who use Binance coin to trade for other cryptocurrencies on Binance Exchange. Binance Exchange, the world’s fastest-growing cryptocurrency exchange, uses Binance Coins for every transaction done on the platform.
Binance Coin’s price today in USD: $663.96
Ripple is named in this list due to its vision which is quite different from the rest of the cryptocurrencies. Ripple is a venture-backed start-up known to offer finance settlement services to banks in a way to facilitates transactions directly and instantly across national borders. Over the years, many large banks got into a contract with Ripple globally including the Bank of America. As a result, it seems to be ideal for institutional investment rather than a personal one.
Ripple’s price today in USD: $1.56
Many questions have been raised on the credibility and worthiness of Dogecoin. Redditors tried spiking its price in 2021 to prevent the speculated short-selling by many Wall Street hedge funds. Elon Musk constantly uses social media platforms to promote this cryptocurrency. Even after so many objections, Dogecoin continues to have its share of market value. Dogecoin hit its all-time high of $0.2917 in April 21, 2021.
Dogecoin’s price today in USD: $0.5049
Tron was founded by Ethereum. It is having its own blockchain platform. TRON is an independent cryptocurrency and uses the Proof of Stake algorithm to process transactions. As compared to Ethereum, TRON hosts more decentralized apps, which is what is making it increasingly popular.
Tron’s price today in USD: $0.142
Bitcoin speculations gave rise to Bitcoin Cash, which is a peer-to-peer electronic cash system that is supremely scalable. As the currency has the word Bitcoin attached to it, it is one of the most-eyed cryptocurrencies by big-time investors.
Bitcoin Cash’s price today in USD: $1,462.21
Zcash works in a totally different way, which Bitcoin can also not do. The blockchain that Bitcoin uses is transparent which makes tracking transactions easier but Zcash only allows tracking of transactions if with the consent of the user itself. Thus, the users get the option to hide their transactions for an added layer of privacy.
Zcash’s price today in USD: $305.40
Where do you future trade?
Binance – 4K
I dont leverage Trade – 1K
Other – 316
Bybit – 262
FTX – 172
Delta Exchange – 104
Huobi – 85
Okex – 52
Bitmex – 43