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Which Cryptocurrency is Best for Beginners?

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Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions.

The popularity of the world of cryptocurrencies has increased sharply over the past decade, proposing a new way to invest, transact, and store value. While professional traders have been navigating the volatile crypto market for years, beginners may find it challenging to select the right cryptocurrency to start with. 

The good news is that there are a few cryptocurrencies that are particularly suitable for beginners thanks to their stability, ease of use, and strong reputation. This article written by Exolix covers some of the best cryptocurrencies for beginners.

Variety of Cryptocurrencies for Beginners from Monero to Bitcoin

For beginners, the world of cryptocurrencies proposes a diverse range of options. Some of the most popular and known cryptocurrencies are Bitcoin (BTC), Monero (XMR), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), and others. Let’s explore these cryptocurrencies so you find the right fit for your investment and financial objectives.

Bitcoin (BTC)

When it comes to cryptocurrencies, Bitcoin is usually the first name that comes to mind. It is the pioneer of the entire crypto space. Bitcoin was created in 2009 by an individual or group utilizing the pseudonym Satoshi Nakamoto. This cryptocurrency is commonly called digital gold because, like gold, it has a finite supply, which creates a sense of scarcity and may be considered a store of value.

There are a few reasons why Bitcoin is great for beginners. First, Bitcoin has a relatively stable reputation compared to many other cryptocurrencies. Although it may still be volatile, its long-term growth potential is engaging to beginners searching for a safe entry point.

Also, Bitcoin is broadly recognized and accepted by diverse businesses and institutions, making it simpler to buy, sell, and utilize in everyday transactions. In addition, transacting with Bitcoin is straightforward, and there are a lot of useful resources and information to assist beginners in comprehending how it works.

Ethereum (ETH)

Ethereum is usually considered the second most significant cryptocurrency after Bitcoin. What sets Ethereum apart is its smart contract functionality, which enables developers to create decentralized applications (DApps) on its blockchain. Ethereum’s native cryptocurrency, Ether (ETH), is utilized to power these applications and alleviate transactions on the network. ETH is great for beginners thanks to its simplicity of exchange, for example XMR to ETH exchange, and privacy features. 

Ethereum is a suitable option for beginners for certain reasons. Ethereum’s smart contract capabilities have led to a wave of innovation in the blockchain space. This may be interesting for beginners who want to explore the potential of blockchain technology beyond simple transactions.

Also, Ethereum is one of the most liquid cryptocurrencies, making it simple to buy, sell, and trade on different exchanges. Moreover, Ethereum has a powerful and active community of developers and enthusiasts, granting a bunch of educational resources and support for beginners.

Monero (XMR)

Monero (XMR) is a privacy-focused cryptocurrency that gives priority to anonymity and safety. It utilizes advanced cryptographic techniques to conceal transaction details, making it almost impossible to trace sender, receiver, or transaction amounts. Monero’s privacy features have grabbed the attention of individuals striving for financial confidentiality, making it a popular choice for crypto enthusiasts who prioritize anonymity in the world of digital currencies.

Monero is great for beginners thanks to its simplicity of exchange, for example XMR to USDT exchange, and privacy features. Unlike other cryptocurrencies, Monero’s technology gives priority to user anonymity by concealing transaction details. This eliminates the need for complicated learning associated with the comprehension of difficult blockchain addresses and transaction histories. 

Moreover, Monero’s user-friendly wallets and simple mining process make it accessible to newcomers. Its commitment to confidentiality likewise promotes the creation of a safe environment for learning about digital currencies without fear of exposure. In general, Monero’s beginner-friendly approach, combined with reliable privacy measures, makes it an ideal choice for individuals taking their first steps into the world of cryptocurrencies.

Litecoin (LTC)

Litecoin, often called “digital silver”, was created in 2011 as a lighter version of Bitcoin. It has a lot in common with Bitcoin but proposes more rapid transaction confirmation times and lower fees.

Litecoin is also regarded as a great choice for beginners. As mentioned previously, Litecoin transactions are more rapid and cheaper compared to Bitcoin, making it an engaging option for everyday use.

Like Bitcoin, Litecoin is relatively simple to comprehend and utilize, making it a good choice for beginners. In addition, Litecoin has been in existence for a long time and has proven its resilience in the cryptocurrency market.

Binance Coin (BNB)

Binance Coin is the native cryptocurrency of the Binance exchange, one of the largest and most popular cryptocurrency exchanges in the world. BNB proposes diverse utilities within the Binance ecosystem, involving reduced trading fees, participation in token sales, and more.

Binance Coin is great for beginners as well for several reasons. BNB can be utilized to reduce trading fees on the Binance exchange, which can be especially beneficial for beginners who plan to actively trade cryptocurrencies.

Also, Binance is known for its safety measures and user-friendly interface, making it a suitable exchange for beginners. Finally, Binance keeps on expanding its ecosystem, proposing more opportunities for BNB usage and adoption.

Final Thoughts: Investing from XMR to BTC

Selecting the best cryptocurrency for beginners depends on your objectives, preferences, and risk tolerance. Although the above-mentioned cryptocurrencies are usually regarded as good options for newcomers, it is of decisive importance to carry out your research and consider your individual circumstances before making any investments.

Keep in mind that the cryptocurrency market is highly volatile, and prices may fluctuate significantly in a short period. It is recommended to start with a small investment, educate yourself about blockchain technology, and think about asking for advice from financial experts before diving into the world of cryptocurrencies. With the right approach and attentive consideration, beginners can achieve success in the exciting and constantly developing cryptocurrency space.

Disclaimer

This article contains a press release provided by an external source and may not necessarily reflect the views or opinions of BeInCrypto. In compliance with the Trust Project guidelines, BeInCrypto remains committed to transparent and unbiased reporting. Readers are advised to verify information independently and consult with a professional before making decisions based on this press release content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin ETFs Could Overtake Gold ETFs by End of The Year

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Spot Bitcoin exchange-traded funds (ETFs) in the US are nearing a major milestone. They are set to become the biggest BTC holders in the world, even surpassing the amount held by Bitcoin’s creator, Satoshi Nakamoto.

Additionally, they are catching up to gold ETFs in total net assets.

Bitcoin ETFs on The Verge of Surpassing Satoshi Nakamoto’s BTC Stash

Since their launch in January, US spot Bitcoin ETFs have grown significantly. According to crypto analyst HODL15Capital, these funds now hold about 1.081 million Bitcoin, just below Nakamoto’s estimated 1.1 million.

Satoshi Nakamoto, the anonymous creator of Bitcoin, is believed to own approximately 5.68% of the total Bitcoin supply. These holdings, valued at over $100 billion, place Nakamoto among the world’s wealthiest individuals — if they are alive and a single person.

However, Bloomberg’s Senior ETF Analyst, Eric Balchunas, pointed out that ETFs are now 98% of the way to overtaking Nakamoto. He predicted that if the current pace of inflows continues, this could happen by Thanksgiving.

“US spot ETFs now 98% of way there to passing Satoshi as world’s biggest holder. My over/under date of Thanksgiving looking good. If next 3 days are like the past 3 days flow-wise it’s a done deal,” Balchunas stated.

Bitcoin ETFs Data
Bitcoin ETFs Data. Source: X/HODL15Capital

SoSoValue data shows inflows into these ETFs grew by around 97% week-on-week to $3.3 billion over the last five trading days, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing $2 billion. This surge coincides with the introduction of options trading for these products, which many believe is attracting more institutional investors.

Meanwhile, Bitcoin ETFs are also narrowing the gap with gold ETFs, which currently hold $120 billion in assets under management (AUM). According to Balchunas, Bitcoin ETFs manage $107 billion and could overtake gold ETFs by Christmas.

These bullish predictions reflect Bitcoin’s exceptional performance in 2024. The top cryptocurrency has surged nearly 160% since January, trading near the $100,000 landmark. In addition, its $1.91 trillion market capitalization now exceeds that of silver and major corporations like the state-owned oil company Saudi Aramco.

However, BTC still lags behind gold, which remains the world’s largest asset with a market capitalization of more than $18 billion.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why Ethereum Price May Fall Under $3,000

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Ethereum (ETH) is currently facing significant downward pressure, with its price declining by 3% over the past 24 hours. This bearish trend could push ETH’s price below the critical $3,000 price level.

This analysis examines the factors contributing to this likelihood.

Ethereum Sellers Re-Emerge

An assessment of the ETH/USD one-day chart has revealed that the coin’s moving average convergence divergence (MACD) indicator is forming a potential death cross. As of this writing, the coin’s MACD line (blue) is attempting to fall below its signal line (orange).

This indicator measures an asset’s price trends and momentum and identifies its potential buy or sell signals. A MACD death cross occurs when the MACD line (the shorter-term moving average) crosses below the signal line (the longer-term moving average), indicating a bearish trend or momentum reversal. This signal suggests that selling pressure is increasing, and the asset’s price could decline further.

ETH MACD
ETH MACD. Source: TradingView

ETH’s rising Aroon Down Line confirms this strengthening bearish pressure. It currently sits at 78.57%, confirming that the decline in ETH’s price is gaining momentum.

The Aroon Indicator evaluates the strength of an asset’s price trend through two components: the Aroon Up line, which reflects the strength of an uptrend, and the Aroon Down line, which reflects the strength of a downtrend. A rising Aroon Down line indicates that recent lows are occurring more frequently, signaling growing bearish momentum or the start of a downtrend.

ETH Aroon Down Line
ETH Aroon Down Line. Source: TradingView

ETH Price Prediction: Key Support Level To Watch

ETH currently trades at $3,333, resting above the support formed at $3,203. This level is crucial because a decline below it will cause ETH to exchange hands under $3000. According to readings from the coin’s Fibonacci Retracement tool, the Ethereum price will drop to $2,970 if this happens.

ETH Price Analysis
ETH Price Analysis. Source: TradingView

However, a resurgence in the demand for the leading altcoin will invalidate this bearish thesis. If this occurs, Ethereum will rally toward $3,500.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cantor Fitzgerald Deepens Tether Ties With 5% Stake Acquisition

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Cantor Fitzgerald, a prominent US financial services firm, is expanding its alliance with Tether, a key player in the digital asset industry and the issuer of the world’s largest stablecoin.

According to reports, the firm has agreed to acquire a 5% stake in Tether as part of a broader collaboration that includes Bitcoin-backed lending initiatives.

Tether Mints $13 Billion USDT as Cantor Fitzgerald Deepens Tie

The acquisition talks, reportedly finalized in 2023, valued the 5% stake at approximately $600 million. This partnership positions Tether to gain strategic advantages, particularly as Cantor Fitzgerald’s CEO, Howard Lutnick, takes on his new role as Secretary of Commerce under President-elect Donald Trump.

Market observers suggest that the nomination raises the possibility of enhanced regulatory support for Tether, which has faced scrutiny over potential violations of sanctions and anti-money laundering regulations—a claim the company has denied. However, Lutnick has promised to step down from his positions at Cantor Senate confirmation.

Beyond the ownership stake, Tether is expected to support Cantor Fitzgerald’s Bitcoin lending program, a multi-billion-dollar initiative. The program aims to offer loans backed by Bitcoin, initially funded with $2 billion, with plans for significant future expansion.

Meanwhile, Cantor Fitzgerald is already a critical partner for Tether, reportedly holding a significant portion of the stablecoin issuer’s $134 billion reserves in US Treasury bills.

As Cantor Fitzgerald deepens its involvement with Tether, the firm has continued its aggressive token minting. On November 24, blockchain analytics platform Lookonchain reported that stablecoin company minted an additional $3 billion USDT, bringing the total minted since November 8 to $13 billion. This expansion has pushed the total supply of USDT to approximately $132 billion.

Tether USDT Supply
Tether’s USDT Supply. Source: Tether

The increased USDT supply may reflect the growing demand for stablecoins, often used to hedge market positions or facilitate crypto transactions without converting to fiat. This liquidity influx could reduce volatility and enhance price stability across the digital asset market.

This surge in USDT supply coincides with a broader market rally led by Bitcoin and other assets such as Dogecoin and Solana, signaling renewed investor confidence in the crypto ecosystem.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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