If you are looking for the list of best short-term crypto investments, then definitely you have a motive of making money quickly and within a day. But, it is very important to note that the price fluctuates a lot each day, and there are high chances for both profits and losses.
We have curated the list of 10 best cryptocurrency exchanges for day trading and short-term gains. They are classified based on their fundamentals, profit returns, and other factors. to trade them, you may also want to do so on low-fee crypto exchanges to save money on fees.
Best 10 Cryptocurrencies to Buy Today for Short-Term
Bitcoin (BTC)
Leading Cryptocurrency With A Market Cap Over $1 Trillion, Offering Stability To The Traders
Introduced in 2009 by Satoshi Nakamoto, an anonymous person, Bitcoin has grown to become one of the best cryptocurrency to invest today in the digital asset ecosystem, with a market value that regularly surpasses hundreds of billions of dollars. At a maximum price of more than $73,000 in March 2024, Bitcoin reached its all time high. Big players started using it, and because of which there was a great hype among the traders too for Bitcoin. Every four years, there is an event called halving, which makes it rarer. This makes Bitcoin like digital gold and a way to keep your money safe from regular financial problems. If you’re really looking out for which crypto to buy today for short-term, then definitely Bitcoin is always on the top priority.
Why is Bitcoin good for Short-Term Investment?
- Bitcoin serves as one of the best options for short-term investment because of high liquidity, significant price volatility, and widespread acceptance over various trading platforms.
- Because Bitcoin is well-known and has a big share of the market, traders who want to make quick money can easily trade it. People trade Bitcoin a lot every day, with trading volumes often going over $47 billion.
- Since Bitcoin is speculative, traders can make money by buying and selling it based on its price changes without needing to hold onto it for a long time.
Ethereum (ETH)
Supports Smart Contracts With A Market Cap Of $500 Billion By Integrating De-Fi And NFTs
Decentralized applications (DApps) and smart contracts are made possible by Ethereum, one of the leading blockchain platforms made in 2015 by Vitalik Buterin and co-founders. They use their own native currency, named Ether, to make transactions and operate the apps globally. Ethereum is known for being a programmable blockchain, meaning that programmers can create all sorts of things on it, ranging from non-fungible tokens (NFTs) to decentralized finance (DeFi) protocols. Ethereum has a lot of developers who keep coming up with new ideas and making the platform better. It shifted from proof-of-work to a proof-of-stake consensus method with the motive to increase stability and sustainability. This makes it one of the most demanded and best crypto to buy today.
Why is Ethereum good for Short-Term Investment?
- The stability in the interest rates of the economy lowers the rate of inflation which definitely offers a great advantage to invest in Ethereum at this moment.
- Multiple steps are taken to minimize the cost such as managing the transaction fees by lowering the gas fees, and burning more native coins, Ether to allow the process of transactions with it.
- Multiple options are available with the developers to create decentralized apps, tokens, and other crypto assets.
- Ethereum may get the ETFs approval in the future, as it follows a similar mining process like Bitcoin.
Solana (SOL)
Super-Fast Transactions With Very Low Fees And Holds A Market Cap Of $60 Billion
The high-performance blockchain Solana was introduced in March 2020 with the goal of resolving the scalability problems that many decentralized networks faced. Solana combines proof-of-stake (PoS) with a new timekeeping technique called proof-of-history (PoH). This lets Solana achieve speeds of up to 65,000 transactions per second (TPS) and confirmation time in less than a second. This greatly outperforms competitors like Ethereum, one of the best short-term crypto investments.
Why is Solana good for Short-Term Investment?
- Solana’s high-performance blockchain can process up to 65,000 transactions per second, offering swift transaction confirmation times.
- Because of its effective design, it has cheap transaction fees, which attracts short-term investors looking for deals at a reasonable price.
- Solana offers a variety of investment opportunities with over 400 companies built on its platform, such as non-fungible token (NFT) marketplaces and decentralized finance (DeFi) systems.
- Investor confidence is increased by Solana’s unique Proof of History (PoH) consensus method, which guarantees safe and trustworthy transaction validation.
Binance Coin (BNB)
With A Market Cap Of $80 Billion, It Is The Native Token Of Crypto Exchange Binance
Binance Coin was introduced in 2017 by Binance, the largest cryptocurrency exchange globally, as their native token. BNB was first introduced as an ERC-20 token on the Ethereum network. It transitioned to Binance Smart Chain (BSC) in 2021, offering faster and more cost-effective transactions. With a total supply of 147 million, BNB plays a crucial role in facilitating transactions, covering trading fees, participating in token sales, and accessing various services within the Binance ecosystem.
Why is Binance Coin good for Short-Term Investment?
Due to its utility across a wide range of services like token sales, trading fee discounts, and involvement in DeFi activities, which drives demand for the token.
Binance regularly burns a portion of BNB tokens, reducing the overall supply and potentially increasing their scarcity, a factor that historically has led to price rise.
The high liquidity on BNB on major exchanges allows short-term traders to easily enter and exit the market, minimizing slippage and creating more trading opportunities.
Chainlink (LINK)
Decentralized Oracle Network With A Market Cap Of $25 Billion, And Promotes The Growth Of De-Fi Apps
Founded in 2017 by Steve Ellis and Sergey Nazarov, Chainlink is a decentralized oracle network that connects blockchain smart contracts with real-world data. The ecosystem relies on its own native currency, LINK, to motivate node operators to reliably provide precise data feeds. With a billion tokens available, LINK plays a vital role in ensuring the accuracy and trustworthiness of data across various applications like supply chain tracking, online betting, insurance, and decentralized finance (De-Fi).
Why is Chainlink good for Short-Term Investment?
As the top decentralized oracle network, Chainlink guarantees accuracy and dependability by offering vital data feeds for smart contracts in a variety of industries.
The native token of Chainlink, LINK, powers the ecosystem by providing incentives to node operators and safeguarding data streams, hence generating intrinsic value and possible price growth.
Chainlink has a committed and active community that supports short-term investment methods by building trust and confidence in the project.
In a period of increased adoption, Chainlink’s relationships with top businesses and blockchain initiatives increase its reputation and market visibility and increase its short-term investment chances.
Cardano (ADA)
One Of The Most Scalable And Secure Blockchain With A Market Cap Of $90 Billion
In 2017, Charles Hoskinson founded Cardano, a third-generation blockchain platform with an emphasis on sustainability, interoperability, and scalability. With the use of peer-reviewed academic research and a research-driven methodology, Cardano hopes to offer a scalable and safe platform for smart contracts and decentralized applications (DApps). Within the ecosystem, value is transferred using ADA, the native coin. Utilizing a proof-of-stake consensus method called Ouroboros, Cardano offers blockchain activities that are both environmentally and energy-efficient, with a total supply capped at more than 36 billion ADA.
Why is Cardano good for Short-Term Investment?
- Cardano attracts short-term investors looking for projects with excellent fundamentals because of its research-driven methodology and peer-reviewed development, which guarantee cutting-edge technology.
- Short-term investment potential is driven by Cardano’s developing ecosystem, which offers numerous investment opportunities with an emphasis on interoperability and decentralized finance (DeFi).
- Cardano’s increasing market sentiment is influenced by its strategic collaborations and increased acceptance, which could result in a short-term price increase.
Polkadot (DOT)
Enable Cross-Chain Interoperability And Scalability With A Market Cap Of Over $30 Billion
Dr. Gavin Wood, a co-founder of Ethereum, founded Polkadot, a next-generation blockchain platform that was introduced in 2020. Polkadot has a multi-chain feature that enables secure information sharing and connections between independent blockchains, sometimes known as parachains. It was created to make interoperability between various blockchains easier. The network’s main method of transaction and governance is its native coin, DOT. Polkadot uses a nominated proof-of-stake (NPoS) consensus method, which offers scalability, security, and decentralization, with a maximum supply of more than 1.4 billion DOT.
Why is Polkadot good for Short-Term Investment?
- The smooth interoperability across several blockchains made possible by Polkadot’s multi-chain architecture promotes a variety of use cases and draws in short-term investors looking to get exposure to a broad range of businesses.
- Polkadot appeals to investors searching for blockchain solutions able to meet increasing demand because of its scalability and fast throughput.
- Holders of DOT tokens can participate in decision-making procedures thanks to Polkadot’s decentralized governance approach, which promotes transparency and investor confidence in short-term investment plans.
Dogecoin (DOGE)
A Meme Transformed Into A Cryptocurrency With A Market Cap Of $30 Billion
Dogecoin was introduced as a lighthearted cryptocurrency in 2013, which was inspired by memes. The famous meme logo of Dogecoin was created by Jackson Palmer and Billy Markus with the famous meme logo of a Shiba Inu dog.
With the help of a dedicated community and active social media presence, Dogecoin still developed into a real digital currency despite its humorous beginnings. Dogecoin has gained popularity as a tipping and charitable giving option on the internet because of its restricted maximum production of 10,000 coins per block and circulation quantity of over 130 billion coins.
Why is Dogecoin good for Short-Term Investment?
- Dogecoin has a strong and vibrant social media community. It generates buzz and speculation that favors opportunities for short-term trading.
- The price of Dogecoin is quite volatile, which gives traders who trade short-term plenty of opportunity to profit from price swings.
- Dogecoin makes short-term investment opportunities accessible to individual investors with minimal cash because of its low unit price when compared to other cryptocurrencies.
Avalanche (AVAX)
Offers High Throughput And Low Latency, With A Market Cap Of $10 Billion
Avalanche is a decentralized platform that was introduced in 2020 with the goal of revolutionizing blockchain technology with its novel consensus process and expandable network. AVAX, the network’s native coin, powers the ecosystem by acting as a medium of exchange, staking, and governance. Avalanche, which positions itself as a premier platform for scalable and interoperable blockchain solutions, offers a strong foundation for decentralized applications (DApps), DeFi protocols, and enterprise solutions. There is a maximum supply of 715 million AVAX tokens.
Why is Avalanche good for Short-Term Investment?
- High throughput and sub-second transaction finality are made possible by Avalanche’s novel consensus technology, which draws short-term investors looking for quick and effective blockchain solutions.
- Avalanche offers a variety of short-term investment opportunities with its quickly growing ecosystem of decentralized apps (DApps) and decentralized finance (DeFi) protocols.
- The ecosystem uses AVAX, the native cryptocurrency of Avalanche, for a variety of functions, such as transaction fees, staking incentives, and governance involvement, which raises the coin’s intrinsic value and short-term investment potential.
Ripple (XRP)
Facilitates Fast And Low-Cost Cross-Border Payments, Ripple Holds A Market Cap Of $50 Billion
Founded in 2012, Ripple is a cryptocurrency platform and global payments network that seeks to transform cross-border commerce. In contrast to conventional blockchain networks, Ripple uses the Ripple Protocol Consensus Algorithm (RPCA) as its consensus mechanism, which makes transactions quick and affordable. Its native cryptocurrency, XRP, acts as a bridge currency to enable remittances and international money transfers. With relationships with more than 300 financial institutions globally, including banks and payment processors, Ripple’s network has strengthened its place in the financial sector.
Why is Ripple good for Short-Term Investment?
- Through adoption and increased utility of XRP, Ripple has forged partnerships with more than 300 financial institutions globally, improving short-term investment possibilities.
- Fast and inexpensive transactions are made possible by Ripple’s consensus technology, which attracts short-term investors looking for effective blockchain solutions for international payments and remittances.
- Unlike some other cryptocurrencies, ripple maintains regulatory compliance, offering stability and lowering regulatory concerns for short-term investors.
What to Look for in Cryptocurrencies for Short-term Investment?
There are a few things to think about while thinking about making a short-term cryptocurrency investment:
- Volatility: The extreme volatility of cryptocurrency markets makes them appropriate for short-term trading, but it also necessitates cautious risk management.
- Market Liquidity: To guarantee simple entry and exit from positions without a lot of slippage, look for cryptocurrencies with large trading volumes and liquidity.
- News and Updates: Keep up with the latest information on market trends, breakthroughs, and attitudes toward cryptocurrencies. These elements have a big influence on short-term price swings.
- Technical Analysis: To determine the best entry and exit positions, use technical analysis tools and indicators to pinpoint short-term trends, support, and resistance levels.
- Fundamental Analysis: To assess cryptocurrencies’ long-term potential and short-term price catalysts, take into account their underlying technology, application cases, partnerships, and adoption.
- Effective risk management: Short-term cryptocurrency trading involves using stop-loss orders, setting clear entry and exit points, and avoiding overleveraging.
- Diversification: To spread risk over a number of assets and lessen the impact of unfavorable price swings in any one asset, diversify your short-term cryptocurrency portfolio.
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