Best cryptocurrency to invest today for short-term
Best cryptocurrency to invest today for short-term

Best cryptocurrency to invest today for short term

An astonishing ~20 million Indians invested in cryptocurrencies in 2021. This number is likely to increase in 2022 as the awareness around blockchain technology and cryptocurrency markets has improved. This is likely because of the various sources where investors are finding educational content on crypto investing such as Youtube, twitter, instagram, etc. Yet, investors that rushed into buying cryptocurrencies in the second half of 2021 are likely to have made a loss on their purchases because the markets have seen a downturn post this period. Therefore, online content will help you educate yourself but it is still advisable to take your time and learn about this new market before investing any of your money in digital assets.

What is the best cryptocurrency to invest into today for the short-term?

In the stock markets, investors are advised to have a long term mentality to avoid volatility. In the crypto markets, this advice holds truer than ever because the volatility is tenfold! Yet, if you still want to make a short term investment, it pays to learn the basics of technical analysis to find good entry points.

The standout: The standout cryptocurrency to consider investing in is the market leader, which is Bitcoin. In this nascent market, which is just over a decade old, Bitcoin has led the way throughout. It has the highest market cap by a long way amongst its peers which stands at $800 Billion. Hence, it can be considered a “large cap investment” within the crypto space. There are also various altcoins that have a lot of potential such as Ethereum, MATIC, Axie Infinity, MANA, Telcoin, etc. Yet, there is a saying in the crypto space - “As goes Bitcoin, so goes the crypto market.” More often than not, this holds true.

While there are various altcoins in the crypto markets, the market leader remains Bitcoin and is likely to be the safest bet. Before investing any money into this space, make sure to do your research. Learn about the factors which affect the crypto market cycles, such as hash rates, bitcoin halvings, country regulations, etc. You must also learn about the tokenomics, market cap and fundamental strength of the cryptocurrency you are thinking of purchasing. This knowledge will help you make more informed choices.

This article is purely for educational purposes. It is not to be read as advice to invest into digital assets or cryptocurrencies. It makes sense to have your finances secured through more trusted and regulated instruments such as stocks, equity mutual funds, debt funds, fixed deposits, liquid funds, etc. It is also important to have necessary insurances and emergency funds in place. Click on this link to learn more. You can also click this link to open a demat account.

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