What Assets Other Than Bitcoin Are Worth Investing?

29 December 2022

in DOT

Reading Time: 2 mins read

Polkadot Price Likely to Crash xx% Despite Recent Protocol Upgrade

30 July 2024

Here’s Why UNI and Polkadot (DOT) Holders Are Flocking To Rollblock

28 July 2024

Cryptocurrency trading and investment are maybe the most controversial question – on the one hand, they have brought enormous sums of money, and on the other hand, many lost their capital as a result. There is no correct answer if you should engage in crypto trading or not, but one thing is as clear as day – you should prepare yourself that crypto trading is not a game and not a lottery. It requires hard work, attention, in-depth knowledge, quick reaction, and fast decision-making. Of course, all these qualities come with experience, and your knowledge is never enough. However, valuable crypto recommendations from experienced investors will come in handy to beginner traders, so let’s discuss some best crypto advice for crypto trading.

Diversification

Of course, the most tempting investment option is BTC. However, you should not only focus on the market leaders. Indeed, buying Bitcoins is a good thing, but diversification is the key to success. For example, you may buy some popular coins such as BTC, ETH, BNB, XRP, etc. and hold them long term, and also purchase less-known coins such as DASH, LINK, MATIC, ADA, and DOT. The point is in the market capitalisation – the lower it is, the more the asset’s volatility.

On the one hand, that means the coin will drop eerie time the market falls, but on the other hand, the asset has a bigger chance to skyrocket during the next bull trend. Try to buy every coin in small portions. In such a way, you will diversify risks. For example, one asset will not stand and drop, while another will reach the moon. So your damage will not be critical.

Select Coins By Their Essence

Another cryptocurrency advice is picking the coin according to its technology and essence. Learn what benefits a project brings to the market and does it have real use cases. For example, the DASH project offers:

total anonymity for users;

conversion of fiat-crypto pairs and transferring them;

low commissions;

no middlemen;

lightning-fast transactions;

support for PayPal and cash;

decentralization and platform’s governance through master nodes.

Considering these advantages, we dare to say that DASH is the best crypto advice in 2022. To buy and trade Dash, welcome to the WhiteBIT exchange.