Cryptocurrency investment – it’s an exciting prospect. We’ve all heard the stories of teenagers turning into millionaires overnight with crypto, but how likely is that to happen again?
As with every financial investment, you have to make your choices wisely. You can’t just invest in anything – you have to find the absolute best cryptocurrency to buy.
So… what is the best cryptocurrency to buy?
Finding the best cryptocurrency
Choosing investments is very particular, especially so in cryptocurrency. There are thousands upon thousands of cryptocurrencies. They all do different things and, as you can imagine, not every crypto has the same growth potential.
I’m going to break it to you now – investing in cryptocurrency is a risk. If you don’t do proper research and prepare yourself it can be extremely risky. There are fake exchanges, ponzi schemes, scam coins and so much more hiding out there.
What this really means is that as a crypto investor, finding the best cryptocurrency to buy is imperative. Doing so requires real work.
If you want to be a successful investor (and I know you do), you don’t want to be told what the best investment is. Blindly following the investments of others doesn’t always work. In fact, many people purposely mislead investors for their own gain. That’s why we’re going to look at finding the best cryptocurrency to buy, rather than telling you what to buy.
What’s right for you?
All investors are different. Some are after a short term flip, others are in for the long haul and the rest are sitting in the middle somewhere.
The duration of investment you’re comfortable with massively affects your choices. The two main analysis techniques are ‘technical analysis’ and ‘fundamental analysis’.
For short term investments, leveraging technical analysis can be better than fundamental analysis because it can provide trading signals that signify potential upcoming price movements.
For the longer term investors, finding the best cryptocurrency to buy usually involves more fundamental analysis. The process is simple to understand, but it takes focus to do it properly. It involves digging into the nitty gritty details of cryptocurrencies to try and discover cryptos that you think have strong potential and a promising future.
Buying popular cryptocurrencies
No one can definitively tell you what the best cryptocurrency to buy is. It all comes down to what kind of investment you’re looking for. With that said, it can be a good idea to consider the most popular cryptocurrencies because they have hype and a loyal following behind them.