Top Cryptocurrency To Invest In October 2021
With consideration of the above-discussed factor, a list of top cryptocurrencies to invest in October 2021 has been prepared, which is as below:
Solana is a web-scale blockchain that provides fast, secure, scalable, decentralized apps and marketplaces. The system currently supports 50,000 TPS and 400ms Block Times.
Ethereum is the next generation of blockchain technology which has grabbed eyeballs for being the second-largest cryptocurrency after Bitcoin. ETH is the first blockchain platform that enabled smart contracts and this innovation has spurned a series of ground-breaking solutions.
It is expected that ETH will continue to shine bright and break the market in the future.
The year 2021 has been a year of revelation for Dogecoin. There is a huge increase of 15,000% makes it one of the hot cryptocurrencies to buy before it explodes.
With a huge push by Tesla and SpaceX boss Elon Musk Dogecoin has become a pioneer of a new race of digital assets.
4. Shiba Inu Dogecoin killer
Shiba Inu is another dog-themed cryptocurrency that has impressed and gained the interest of investors. With the whopping increase of 21,000% in just one week makes it one of the best tokens to buy for the long term.
7. Ripples XRP
Its market is growing continuously so it is the best option for investment.
9. Binance Coin
How To Invest In Cryptocurrency
Now that you know what to look out for when learning how to invest in cryptocurrency, its time to explore how to invest your cryptocurrency to earn even more.
As a beginner investor, you might want to begin with an easy-to-use, relatively low-risk platform. MyConstant is one such solution. MyConstant is a US-based multi-market peer-to-peer bad credit platform. It has a proud record of no investor losing their initial investment to date.
Instead of just leaving it in your wallet, MyConstant offers you the opportunity to earn up to 7% APR on your cryptocurrency. It adds an extra stream of income to your cryptocurrency portfolio.
Investing In Crypto Exchanges
Unlike DEXs, centralized exchanges such as Coinbase, Kraken and Bitstamp work based on a conventional brokerage system and therefore have no underlying token. However, centralized crypto exchanges are beginning to list on traditional stock markets, with Coinbase leading the group with a listing in April 2021. These listings provide a direct way to invest in the exchanges.
- Purchase of shares can be completed via traditional brokerage firms
- Exchange tokens are based on the success of the exchange, which has historically seen a lot of fluctuation in which exchanges dominate
- Exchange tokens are only a proxy investment and do not give ownership rights the same way that stocks do
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Other Ways To Invest In Cryptocurrency
With broad adoption comes broad innovation, and there are now plenty of niche opportunities to acquire cryptocurrency.
If you would like to perform small tasks in return for cryptocurrencies, there are also plenty of options. Brave, a decentralized browser, rewards users for allowing advertisements with its native basic attention token . Coinbase promotes cryptocurrency education through its Coinbase earn initiative, which rewards users with a small amount of crypto after each lesson.
Airdrops free giveaways of cryptocurrency provide an opportunity to receive digital assets for free. Airdrops can be awarded for anything, although they often involve registration or promoting a new service, or they’re awarded retroactively for certain actions .
Video games are also exploring the integration of cryptocurrency, allowing you to earn cryptocurrency or NFTs while you play. Virtual worlds such as , which combine elements of gaming, art and social media, even let users buy and trade virtual plots of land, artworks, buildings and clothing. If you’re a digital designer, this could be a great way for you to earn a bit of extra income.
Fa Vs Ta Which Is Better
It entirely depends on the trader profile. Do you want to be the kind of trader that prefers to get in and out of trading positions multiple times a day ? Then crypto technical analysis will be your best friend. Instead, do you prefer to research and make informed bets every time ? Then a mix of both is the way to go.
As a trader, you cant have enough tools in your arsenal. Applying both FA and TA will give you the best chance of identifying the best trading and investing opportunities in the crypto market. This is because the two techniques complement each other in so many ways.
For instance, you may use FA to determine that an asset is worth investing in. What you may not uncover with FA, however, is the right time to invest. For this, you will have to rely on technical analysis. Conversely, if you are using TA to work out future price movements for a given asset, you can use FA to confirm whether or not the price trend you are witnessing is poised to continue.
Therefore, there are advantages to using either technique over the other at various moments in your research, but to have a more complete picture, use both.
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Canadians Can Use It To Buy Goods And Services
Finally, lets not miss the point of cryptocurrency: its currency that can be used to buy things. Though, in the past, buying goods with crypto was a hassle, these days new apps and technology have made it much simpler. Here are a few ways crypto can be used to buy goods and services.
Perhaps the simplest way to spend crypto is to link it to a crypto card, which right now come in two main types: prepaid and debit cards.
A prepaid card is basically how it sounds: a card to a crypto wallet, then load it with funds. When everything on the card is spent, it can be loaded again. Of course, in order to load a prepaid card, an investor will first need to convert their crypto into CAD, which can become somewhat of a hassle, not to mention expensive if they have to pay exchange fees.
Debit crypto cards take the loading step out of the process. The card is linked directly to a crypto wallet, and, as long as the retail store accepts the debit crypto card, it can be used on point-of-sale devices. The exchange from crypto to CAD happens on the spot, allowing users to make purchases quickly. The only problem with debit crypto cards: in Canada, investors dont have that many options. Though that may change in the future , for now interested investors will have to select a card from a very limited supply.
Retailers that accept crypto currency
Payment processors that accept crypto
Think About The Value That The Project Is Bringing In
Check to see whether the project is bringing in any practical utility into the ecosystem. The perfect example of this is Ethereum. There is a reason why it took off so fast for the first time, developers around the world had a platform that they could use to build their own dapps or decentralized applications on a blockchain.
Along with that, keep in mind the issues that the crypto world is desperately looking to solve privacy, scalability, and interoperability. A good way to go about your investment is to find the projects that are specifically working on solving these problems.
As of 2021, the players trying to solve these same problems and roll them all into their platform, or Layer 1 network include:
Each token role has its own purpose, as outlined below:
- Right: the token holder gets a certain amount of rights within the ecosystem, such as the right to vote.
- Value exchange: the token helps buyers and sellers trade value within the ecosystem.
- Toll: the token acts as a toll gateway in order for the holder to use certain functionalities of the system.
- Function: the token enables the holder to enrich the user experience inside the confines of the environment.
- Currency: the token stores value that can be used to conduct transactions both inside and outside the ecosystem.
- Earnings: the token provides an equitable distribution of profits or other related financial benefits among investors.
So, how does this all help with evaluating token utility?
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Why You Need Solid Principles
Because theres so many beginners in the crypto world, most people dont really understand the foundations of investing.
They just hear a coin is good, buy it and cross their fingers hoping itll moon sometime soon.
But make no mistake, thats a BAD way to do it!
You dont want to be be this guy
If youre investing money into a cryptocurrency, make sure know the reasons why otherwise youre taking a huge risk!
So heres 10 ways to decide which cryptocurrency investment
> See the latest cryptocurrency prices here!
Similarities Between The Crypto And Stock Market
- Trading and investing tools are more or less the same. This is especially true for technical traders using tools such as charts to analyze the market. You can use the same tools to perform TA ” rel=”nofollow”> Technical Analysis) for trades on either market.
- Assets denominated using fiat currencies. The crypto market may be innovative and revolutionary with the assets designed to append the current financial system. However, the denominations in the marketplace are still valued compared to fiat currencies similar to the stock market.
- Trading and investing strategies are similar. In the stock market, traders can choose to day trade, swing, or position trade. They can also opt to buy and hold their assets for the long term. Similarly, traders and investors in the crypto market can do the same things.
- Similar market products. The stock market has been around for generations, leading to innovative products such as derivatives and techniques such as using leverage to inflate gains Those same products and techniques have been ported over to the new age cryptocurrency market. You can now trade Bitcoin futures, options, and leveraged tokens. You can use leverage on most of your trades on most leading cryptocurrency exchanges, such as Binance, Bitfinex, or BitMEX. The full list of digital asset exchanges with a leverage trading here.
Please note: DO NOT trade cryptocurrencies with leverage unless you are fully aware of what you are doing and what risks you face.
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What Makes Cryptocurrencies Different From Fiat Money
Fiat money money like the American or Canadian dollar is issued by the government, meaning theres a central authority that controls its value, interest rates, and supply . Many view this degree of government involvement in the mechanics of the free market as manipulation and as an archaic attempt to manage a vast and complex economic system. A noble intention at best, a catalyst of hyperinflation that makes wealth building very difficult for the average person, at worst.
Cryptocurrencies, on the other hand, are decentralized all transactions are done peer-to-peer or through smart contracts and theres no authority overseeing them. Many people consider this a massive advantage over traditional money, because it gives them full control of their assets.
How Do You Store Your Cryptocurrency
Hang with us, were about to get pretty techy here. You store your cryptocurrency in something called a digital walletusually in an app or through the vendor where you purchase your coins. Your wallet gives you a private keya unique code that you enter in order to digitally sign off on purchases. Its mathematical proof that the exchange was legit.
With us so far? Okay, good. Because were about to get into the tech weeds even more.
Cryptocurrencies use something called blockchain technology. A blockchain is like a really long receipt that keeps growing with each exchange of crypto. Its a public record of all of the transactions that have ever happened in a given cryptocurrency. Yes, it sounds like its straight out of The Matrix. Just think of it like a ledger that shows the history of that piece of currency.
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Are Indians Moving Away From Traditional Investments
The survey showed that cryptocurrency investors have a high risk appetite and a diversified financial portfolio. The average investment basket comprises stocks at 31% and mutual funds at 21%, in contrast to traditional choices like fixed deposits and life insurance.
Most Indians are currently trying to better understand how cryptocurrency works and if its worth the investment and risk, says Kantars Anand Parameswaran. Consumers are willing to consider the diversification of their portfolios with high-risk products, according to Parameswaran.
In terms of ownership, the top five preferred currencies are bitcoin, with a total share of 75%, followed by dogecoin at 47%, ethereum at 40%, Binances coin at 23% and Ripples XRP at 18%.
Ethereum leads on the net sentiment scorecard, which measures the net value of all those opinions expressed on social media about a brand or product. Even though bitcoin is the most popular, net sentiments for other cryptocurrencies like dogecoin, XRP, and Binances coin are higher, Kantar noted.
Should I Invest In Cryptocurrency
Plain and simpleinvesting in cryptocurrency is not a good way to build wealth for your future. If you really want a solid investment, dont mess around with adding some crypto coins to your digital wallet. Heres the better plan: If youre out of debt, have an emergency fund that will cover three to six months of expenses, and youre ready to invest, then focus on investing 15% of your income in growth stock mutual fundswhich are way more secure than crypto.
Dont give in to stupid just because theres a lot of hype. Weve talked to people who have taken out a mortgage or cashed out their entire 401 early to invest in cryptocurrencyheck no! Dont put it all on the line and risk your financial future, your retirement dreams and your familys well-being. If you cant afford to lose the money, dont invest it in something as unstable as crypto.
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How To Store Cryptocurrency Safely
If you have purchased cryptocurrency, storing your digital assets safely should be your next priority. Storing via an online exchange is very convenient and allows you to easily transact and access your cryptocurrencies, however, as with anything online, there is always a vulnerability of being hacked.
One of the safest options is a cold hardware storage wallet, which protects your private keys .
These devices work by never sharing your private keys on the Internet. Instead, transactions have to be transmitted to the device, which are then “signed” and sent back to the Internet.
Study The Development Activity
One of the most important things to know when investing in cryptocurrency is who and what stands behind a given coin. The top cryptocurrency to invest in will be one with an experienced team and a popular value-added project providing quality products and services.
Developer activity is a great indicator of the strength of a project. A look at GitHub, the public hosting site for software development will provide an idea of the scope of development, giving you all the important metrics and helping you determine the efforts being focused on the initiative.
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How To Sell Cryptos
A key part of investing in crypto is being able to sell your investment when you want . Fortunately, you can use the same trading platforms to sell cryptocurrencies as you would use to buy them.
In the SwissBorg app, to sell cryptos and perform an asset exchange, simply navigate to the Portfolio tab and open the asset you want to sell. Tap Exchange, and then choose the currency you want to sell it for.
Next, choose the amount you want to sell, and the entire transaction will be completed in the app!
What Is Cryptocurrency Cryptocurrency Security: 4 Tips To Safely Invest In Cryptocurrency
Technology has changed the way people work, communicate, shop and even pay for goods. Companies and consumers don’t always prefer cash anymore, and this behavior is giving way to contactless payments like Apple Pay. With the quick wave of a smartphone, consumers can pay for items at digital registers. Now, a new payment system is emerging: cryptocurrency.
Probably everyone heard about Bitcoin by now. It was the first cryptocurrency to go mainstream, but others are growing in popularity. There are more than 2,000 different types of cryptocurrencies, and more are developed every day.
Research suggests most people have heard of cryptocurrency but don’t fully understand what it is. So, what is it, is it secure and how do you invest in it? To help, we’ll answer those questions. Think of this as Cryptocurrency Investing 101.
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How To Store Cryptocurrencies
Alright, so you bought your cryptocurrencies, where exactly should you store them?
Centralized exchanges are much more reliable, secure, and insured today than they were a few short years ago. Most retail investors are more than comfortable trusting a centralized crypto currency exchange like Binance or Coinbase with custody of their holdings. And since mass adoption of crypto is still just beginning, this is the easiest and most straight forward option
If you are more risk averse, and less trusting of centralized methods of custody, there are a variety of crypto wallet options available with an array of features and trade offs. If you want to learn even more about what is available see our in depth Cryptocurrency Wallet Guide: A Step-By-Step Tutorial.
Investors Store Cryptocurrency In A Crypto Wallet
A crypto wallet is the central hub of cryptocurrency. Its where investors manage your crypto, and its where investors send and receive cryptocurrency from other people.
But what is it exactly? Well, its basically a software program that gives exclusive access to the crypto an investor owns place on the blockchain. Depending on whether the wallet is hot or cold , investors can carry their wallet on a mobile device or an external drive.
Keep in mind: crypto wallets dont store cryptocurrency themselves. They store a public and private key, both of which allow investors to claim the cryptocurrency on the blockchain .
To give you a deeper dive: the public key is like a bank account number. Investors give it to other users in order to receive cryptocurrency. A private key is like a PIN number. It is used to unlock transactions, prove ownership of crypto coins, and ultimately spend or trade them. Note: never under any circumstance give away this private key to another user. If someone has a private key, they can spend the crypto in the associated account.
When you own cryptocurrency, youre basically saying you have the private key to prove the crypto is yours. Anyone on blockchain can look at the cryptos public key to verify that you are indeed the owner. Andto bring it all homeyour crypto wallet keeps your public and private keys extremely safe.
Crypto wallets come in a few different forms, including:
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