As cryptocurrencies grow in terms of accessibility, they are slowly becoming a much more common investment option, but what is the best cryptocurrency to invest in now? This seems to come down to a matter of opinion and your level of confidence in a cryptocurrency.
We will take a closer look at the factors that influence the best altcoins to invest in, as well as some of the most popular cryptocurrencies for investing in 2020.
How to Choose the Best Cryptocurrency to Invest in Now
Volatility and Market Cap
All cryptocurrencies are volatile, which can increase your potential profits but also increases your risk. One of the easy ways to compare the volatilities of cryptocurrencies is by looking at their market cap.
Cryptocurrencies with a large market cap are less volatile and are considered safer. Those with low market caps are highly volatile and incredibly risky. They may crash and you will lose your investment, but they may also rise sharply and give you a quick short-term profit. Mid-cap cryptocurrencies sit in the middle of these.
The size of the market also relates directly to liquidity, which is a good thing when trading cryptocurrencies. The best cryptocurrency to invest in now would be one that is highly liquid, as this increases your chances of completing the trades that you want. High liquidity also makes it easy to exit your investment in the form of your choice. Bitcoin, for example, can easily be traded for fiat, gold, or other cryptocurrencies.
Source of Pricing
For most cryptocurrencies, the pricing comes from supply and demand, but there are some exceptions to this rule. Some cryptos are pegged to another value, such as the value of gold or the USD, with Tether (USDT) being a popular example of the latter. These cryptocurrencies tend to be less volatile than their counterparts, but they are also influenced by the geopolitical situations of the asset they are tied to.
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Some of the Best Cryptocurrency Investments
With those considerations in mind, take a look at popular answers to the best cryptocurrency to invest in now.
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As the largest cryptocurrency, many people consider Bitcoin to be the best cryptocurrency to invest in now and have felt this way for years. Bitcoin has a large market cap, which reduces its volatility somewhat. This means that while there may be slightly less potential for growth than some low-cap cryptocurrencies, the risk is also not as great.
Additionally, the size of the market of Bitcoin makes it highly liquid. That comes with numerous investment options, so you can choose the exchange or account type you prefer. Bitcoin is also versatile enough to serve as a long-term or short-term investment.
Tether is another popular answer to the best cryptocurrency to buy right now, especially for those concerned about the volatility of cryptocurrencies. Remember that Tether follows the price movements of the USD, a fiat asset that is much less volatile than cryptocurrency. This means that Tether is less volatile than other cryptos, and therefore, you have a reduced risk when investing in it.
Another factor that makes USDT the best cryptocurrency to invest in now is its popularity. This popularity means that it is highly liquid, and you have numerous investment and trading opportunities. While it is not as prevalent as Bitcoin, it is still popular enough to provide some of the same advantages.
Leave Decision and Analysis to the Experts
To invest in cryptocurrency, you do not have to become a day trader or spend all of your time researching the best new cryptocurrency to invest in. Haru Invest is a great alternative, letting you invest your cryptocurrency while leaving the decisions and analysis to the experts.
No Effort on Your Part
With Haru Invest, all you have to do is choose the cryptocurrency to invest in and let algorithmic trading take care of everything else. The algorithm was created by experts and is maintained by them, so you always get professional management. By using an algorithm, Haru Invest can trade 24/7, even when you are asleep. The algorithms automatically monitor the market all day and night. From there, it automatically sells and buys cryptocurrencies based on its expert programming, helping get you a high return.
One of the great things about Haru Invest is that you do not need to know much about the cryptocurrency market, as the algorithm and experts involved take care of everything. You also do not need technical or coding skills, as the Haru Invest team coded the algorithms. You get to take a hands-off approach. Haru Invest can appeal to everyone, thanks to its minimum investment of just $10. A similar service from a competitor requires at least tens of thousands, if not more.
As a bonus, Haru Invest does not have any management fees, while most similar investments have management fees of about 2%. Additionally, Haru Invest only charges you a performance fee if you make a profit of over 15% APR. In those cases and only those cases, there is a fee of 15%. Compare that with the blanket performance fees of 20% to 30% that are average for the industry, regardless of profit.
With Haru Invest, you can currently invest in either Bitcoin or TetherUSDT, with annual targets of 25%+ and 22.5%+. You also do not have to invest your funds for long, as the investment periods start at just three and one month(s), respectively.
Prefer Not to Invest? Consider a Crypto Savings Account
Remember that investing and day trading are not the only ways to earn profit with cryptocurrency. Another option that has even less risk is a cryptocurrency savings account that delivers interest. Haru gives you two choices for this type of account. You can open a Haru Earn account without any lock-up period and earn highly competitive interest rates that are compounded daily. Or, you can opt for Haru Earn Plus and choose a lock-up period of your choice to boost your interest rate even more.
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