If you’re new to the crypto world and trading, it’s important to know that trading, in general, is more than just exchanging stuff between people. It includes investing, mining, and more.
That means you need to do your research and have some knowledge about what you’re getting into before you dive in. This is especially important if you’re new and you plan to trading on any cryptocurrency trading platform for crypto, property, stocks, or any market.
You wouldn’t want to jump into the sea off a boat without knowing if sharks are waiting for you under the water, would you? Of course not!
So, let’s take a look at some of the top crypto benefits and five digital coins or cryptocurrencies you can trade on a reputable and reliable cryptocurrency trading platform like Bitcoin Revolution.
Benefits of Digital Coins
Cryptocurrencies are essentially digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
One of the many benefits of trading, particularly in cryptocurrency, is you have full control over how you handle your money without having to rely on a bank or other centralized authority.
Since modern central banking is more vulnerable than we think, the peace of mind of securing your money in digital currency instead of leaving it to the bank is already a big boon.
Moreover, there are many well-known cryptocurrencies like Bitcoin (one BTC is worth $61,639.02, as of this writing) and various cryptocurrencies you can start trading with small amounts.
Also, compared to buying properties directly, you can start trading with as little as $100-250, and make the most out of it to work your way up to the big fish of the crypto world in the future.
Perhaps the absolutely best thing about crypto trading is the continuously-developing and increasing presence of retailers on the internet that now allow you to pay with cryptocurrency.
Best Digital Coins to Start Trading
So, which are the best digital coins or cryptocurrencies you can start trading with today?
Bitcoin is one of the most well-known cryptocurrency, so you’re already probably expecting this crypto name on the list.
Bitcoin cryptocurrency has been in the market for over ten years and is the most common among traders, and even people with no interest in the tech world have probably heard of it.
One of the things that makes Bitcoin a good digital currency or cryptocurrency coin for trading is its large market cap and trading volume. Since this digital coin is popular, it’s the best place to look into if you’re just a newbie getting into trading cryptocurrency coins.
Over 21 million BTC can actually exist, and even though Bitcoins are being mined every day, there were 18.82 million bitcoins available as of September 2021 already. That means there are still plenty of the digital coins to go around.
Ethereum is another big name in the crypto world. In fact, it’s the second-largest platform after Bitcoin by market cap, making it one of the top cryptocurrency coins to get into trading.
However, there is no upper limit supply on Ethereum compared to Bitcoin, which attracts a lot of people with interest in this coin.
Ethereum has been around since 2015, and in 2016, it was split into two: Ethereum and Ethereum Classic, so it would be wise to focus and pay attention to your every action when trading.
Several traders use Ethereum outside of trading, so their developers have made apps that support the use of Ethereum through smart contracts, allowing it to be used in various sectors such as for business, gaming, and voting.
It’s also worth mentioning that Ethereum has a version 2.0, in which its first phase was launched on December 1, 2020. But, with two phases to go, the full release is not yet estimated to happen until 2022.
Ethereum also received another update on August 5 2021, which implemented EIP-1559 to change Ethereum’s transaction fee system. Currently, the Ethereum 2.0 is live on the testnet, where withholders are already staking almost 8 million Ethereum.
Litecoin may not be as popular as Bitcoin and Ethereum, but it is still among the top cryptocurrencies by market cap, making it an alternative or an ‘altcoin’ to Bitcoin.
Even though Litecoin (LTC) was founded in 2011, it’s still continuously developing up to this date. One thing about this digital coin is it’s a lot cheaper per coin than Bitcoin, but it has a supply limit of 84 million, which is bigger compared to Bitcoin.
Being one of the cheaper cryptocurrencies makes Litecoin a solid starting point for newbies who are just new to trading to explore before targeting the big names of cryptocurrency.
Ripple was released in 2012, which makes it another one of the oldest names in the cryptocurrency world.
Since this digital coin was one of the originals that helped revolutionize crypto coins, it’s also one of the more popular currencies to trade.
This digital coin targets big names, but it is still a good option for anyone who could invest in it, keeping a little something aside due to its actual cost being so low.
With Ripple, your profits may not go as high, but it’s arguable one of the best to check out as a beginner. What makes this good for newbies is its minimal risk when getting into the game.
Monera is an altcoin launched in 2014 that entirely focuses on privacy. Due to its privacy-focused goal, it’s known as the “one true privacy coin.”
It’s impossible to tell where each transaction came from, and that attracts different opinions from investors: some love it, while others think it’s a bit fishy.
With its extreme privacy, you can be sure it’s used widely on the Dark Web. But it is still a solid cryptocurrency to trade.
Although Monero’s value is pretty high, it’s not as expensive as the big names in the crypto world. This makes it good for dipping into this market before committing to something more expensive.
There’s potential profit in trading in all these digital coins if you know how to play your cards right in the markets. That’s why it’s important to do your research before you start trading.