The market of digital assets is growing, welcoming new up-and-coming crypto projects that bring so many benefits and valuable technologies not only to the digital space but also to the real sector businesses. The most valuable crypto assets are those released by the same technologically rich projects. Even if we compare some advanced and widespread projects such as Solana, for example, with just a meme coin created for fun, for instance, Shiba Inu, it becomes clear which of them is worth buying. The fact is that when you buy an established coin with a large market cap and good prospects for growth, proved by the project’s development and many partnerships made, you can be sure you will sell cryptocurrency at a much higher price and generate income in the future. But if you buy some meme coin in its hype, the chances you will make a fortune from selling it are low.
Cryptocurrency is a private digital currency. These currency transactions are done completely confidentially, no third parties are involved such as banks and the government has no control over it. These transactions are done on the blockchain. Blockchain is a process by which cryptocurrencies are exchanged and related information is stored. A block is a storage of information related to a crypto exchange. When a block is filled with information, the next block is automatically created. No further changes can be made to the block containing the previous information. In this way, the blocks are created one after the other.
What to Consider When Buying Cryptocurrency?
First of all, pay attention to the asset’s market capitalisation. It is the value of all the digital assets that were released. To get the market cap, you may multiply the price by the number of coins in circulation, or you can just check the market cap on the Coinmarketcap resource. By the way, the rate of the best crypto assets by market cap looks as follows:
- Bitcoin
- Ethereum
- Tether
- BNB
- USD coin
- Binance USD
- XRP
- Dogecoin
- Cardano
- Polygon.
The next factor to consider when picking a crypto asset is the technology and application. Suppose it is an asset released by a project such as Solana, Cardano, or Ethereum. In that case, that means the technology aims to give decentralized app developers space for their work, so hundreds of NFT, metaverses, DeFi and other products will be developed on top of those blockchains. Therefore, it is likely that the projects will expand and develop, and their coin price will grow well. So it is recommended to learn a project and its essence thoroughly before buying its assets. Avoid mistakes when investing in Crypto. Not booking profit. Reinvesting or not selling for much profit is the main reason for the loss. Not doing dollar cost average. Purchase DCA or SIP system. No further getting involved in low-rate crypto.
You can buy and sell crypto assets using the WhiteBIT crypto exchange. It is the largest trading platform for crypto holders in Europe.
