Which Is The Best Crypto To Buy And Get Profit Leads In 2021
Introduction Of Which Is The Best Crypto To Buy And Get Profit Leads In 2021
Which Is The Best Crypto To Buy And Get Profit Leads In 2021. Which coins I recommend and why if you’re just getting started with cryptocurrencies know I do think that there is a lot of money to be made here in the long term and yeah hopefully that gives you enough reason to watch this video until the end right now there are over 1600 cryptocurrencies on the market available for trading and of those 1600 you have bitcoin and ethereum at the very top of the list.
We also have meme coins such as dogecoin which are getting a lot of buzzes lately so yeah we’ll go over everything you need to know about these coins my take on which one’s the best to buy and how investing in cryptocurrencies could make you a whole lot richer let’s get started let’s go over a quick rundown of each coin and let’s start with dogecoin since this was the coin that was started as a joke in 2013. so dogecoin you’ve probably seen it on Elon musk’s Twitter feed and this is a decentralized inflationary currency so it’s a little bit different than the other coins meaning that there is an unlimited supply of dogecoin is created by mining and right now.
Now let’s take a quick look at some of the price charts from dogecoin
It seems like it is the mean coin of choice for most people so now let’s take a quick look at some of the price charts from dogecoin um I have the coin desk opened up and right now you can see that dogecoin is trading for just over seven cents per coin now by the time you’re watching this video it’s probably gonna change a little bit I mean this coin is extremely volatile which I’ll show you right now in the last 24 hours we can see it as low as about 6.87 but then you can see that um just earlier today it spiked up to 7.9 cents and then if we zoom out to the one month chart you can see just how much this thing has increased um thanks to Elon musk thanks to Reddit literally.
Just a couple of weeks ago I mean one dogecoin was about 0.8 cents per coin and since then it’s just absolutely shot up I mean we saw it shoot up for the first time uh back in late January then we saw it dip down to around 2.4 cents per dogecoin and since then it’s been going up pretty smoothly they rate the 30-day volatility as a 5.52 and you can see that in the last 24 hours there have been 48 833 transactions the total market cap of this coin right now is 128.19 billion dollars and yet going back to the last 24 hours.
The total amount of value transacted was 479.67 million dollars the year dates returns is an amazing 1250.76 percent
The total amount of value transacted was 479.67 million dollars the year dates returns is an amazing 1250.76 percent now let’s also talk about bitcoin real quick and I have the coinbase page for bitcoin pulled up right now it’s trading for about 44 969 per bitcoin which is just a little bit down from its all-time high recently in the last 24 hours we can see that the price has somewhat gone down from about 47 000 to about 45 000 where it is right now and if we zoom out to the one year chart you can see back.
When the pandemic first started uh bitcoin dropped from around like nine thousand dollars per coin down to about 3 800 so more than halved and then since then it’s just really been on this upward trend I mean it got to like 11 000 at one point dropped down just a little bit and since then it’s just been increasing a lot we did have a minor correction once it hit about forty thousand dollars per coin and it dropped to I think about 30 to 31 000 but since then it’s recovered quite a bit and we saw.
The biggest price movement recently when Elon musk said that tesla had purchased 1.5 billion dollars of bitcoin so looking at the other stats for bitcoin you can see that the market cap is 838.1 billion dollars the amount transacted in the last 24 hours is 85.9 billion dollars which is just insane and we have about 18.6 million bitcoin in circulation which out of 21 million you can see there’s not too many more to be mined it’s the number one most held coin on coinbase and the typical hold time seems to be about 68 days so really bitcoin is a decentralized digital currency.
The first is to just mine them basically what you’re doing with this is you’re solving mathematical equations
That is not regulated by any governmental authorities it also uses a decentralized ledger known as blockchain bitcoin was created in 2009 by a person or a group known as Satoshi Nakamoto it is a fixed asset which means that there can’t be more than 21 million coins out there so there are a few ways to get bitcoins and the first is to just mine them basically what you’re doing with this is you’re solving mathematical equations and getting bitcoins in the process it takes a lot of energy it takes a lot of computing power so don’t think as you can just open up your MacBook and start mining bitcoins the other way is to just buy it with cash or other coins and the other way is to sell things and accept bitcoin as payment.
The third coin I wanted to talk about is there this is another huge huge coin and right now there is trading at one thousand seven hundred thirty-three dollars and seven cents we can see in the last month it has been increasing um from under a thousand dollars to almost two thousand dollars where it is today and you’ll see the price changing constantly because these coins are super volatile they are changing all the time so by the time you guys are watching this video the price could be something completely different and it’s interesting to see the entire price chart for ethereum because back in 2018 back at the beginning of that year aetherial hit 1 365 dollars per coin.
It hasn’t recovered for a long time until very recently when the price suddenly jumped to higher than its peak back in 2018. ethereum has a market cap of 198.5 billion dollars the total transacted volume in the last 24 hours is 41.4 billion dollars and we have about 114.6 million um aetherium in circulation it is the number two most held coin on coinbase and people normally hold it for about 56 days so there was created in 2015 by vitalik butter and I just want to clarify that there is the platform and ether is the actual currency called ethereum uses blockchain technology which is a decentralized public ledger and it’s not only a store of value.
Which is ethereum’s native token is needed to use the apps that are built on ethereum’s platform
But also very useful for smart contracts and decentralizing applications and services essentially there is an app platform that allows for decentralized apps aka the data is in the hands of the owner ether which is ethereum’s native token is needed to use the apps that are built on ethereum’s platform now comparing bitcoin and ethereum there are some key differences between the two and sort of like comparing apples with oranges I’d say that bitcoin is more like gold and there is more like electricity both are valuable but they do have different uses and different purposes and before you buy you do need to understand.
The concept that you are buying into brings me to due diligence which is extremely important and after you guys watch this video go out and read more about bitcoin ethereum and dogecoin if you want and if you want 10 of free bitcoin definitely use the link in my description below and you’ll also be supporting the channel as well so thank you so much in advance now I didn’t mention this but you can also invest in bitcoin mining companies instead of going out and buying bitcoin ethereum or dogecoin, for example, riot blockchain is a company that’s really on my list and if you look at the price chart you can see just how correlated the price of uh right blockchain is with the price of bitcoin and it makes sense.
Because this is a bitcoin mining company so if the price of bitcoin goes up the value of this company should go up as well but yeah just another way to invest in crypto without actually buying crypto itself another really interesting fact is that about 20 of the supply of bitcoin in the world is lost people have lost their keys they’ve lost their passwords they’ve lost their hard drives or computers and when this happens, unfortunately, that bitcoin is just taken out of circulation okay so now in this section I’m going to be comparing bitcoin and ethereum we’ll save dogecoin for later on in the video because I think that that coin is in a whole different class so as of right now.
Bitcoin is the crypto leader and as you saw the market cap is much higher for bitcoin than
Bitcoin is the crypto leader and as you saw the market cap is much higher for bitcoin than it is for there big institutions and companies are beginning to back bitcoin for example like I mentioned earlier tesla just bought about 1.5 billion dollars of bitcoin so now for any tesla investor out there you also technically own bitcoin tesla also said that they may start accepting bitcoin as payments shortly Bridgewater associates uh miller opportunity trust marathon patent group MicroStrategy these are some other groups that also hold bitcoin and in the news Blackrock which is the world’s largest asset manager recently filed with the sec that bitcoin derivatives could be a part of two of its funds beyond.
These funds there have also been huge increases in the amount of money of bitcoin owned by publicly traded companies so now going on to ethereum um in the news recently came group has just launched ethereum futures contracts and on launch day they registered 33 million dollars worth of ethereum futures institutions are also putting more and more money into ethereum but nowhere near as much as bitcoin however it is turning up though its market cap is getting large enough where institutions can start taking it seriously for example grayscale has started adding ethereum to its holdings in great numbers there’s also been lots of hype surrounding.
The decentralized finance sector now as far as decentralized currencies one reason why I like them is that well of, course the, e-government can’t influence it with the total u.s money supply something up like 40 in the last year investors are going to bitcoin and ethereum to hedge against any possible upcoming inflation now inflation is not guaranteed to happen just because we printed a lot more money there are tons of other factors at play that I won’t get into but the whole thought of decentralized money is enticing for more and more people now efficiency-wise I do like ethereum.
Whereas for bitcoin it’s more of like a store of value sort of like gold with not as many groundbreakings
Because it fixes a lot of kinks in bitcoin takes a lot of energy to mine and the rewards keep getting smaller and smaller there, on the other hand, is created by a process called proof of stake basically to mine ethereum you need to put up your ethereum as collateral and this is called staking which allows you to become a validator on the network so that reduces the amount of eth available in circulation which raises the price I also like that there is decentralized finance which could eliminate brokerages and exchanges in the future there are more useful things with ethereum that make supporting it a great cause for a lot of people.
Whereas for bitcoin it’s more of like a store of value sort of like gold with not as many groundbreakings uses or advancements in technology so in my opinion, if you guys want to invest in crypto I recommend diversifying the more you have the safer because not all your eggs are in one basket however I recommend being quite careful with alkalines as well as meme coins because those are very volatile they aren’t backed by anything and yeah you could lose all your money.
Now personally almost all of my crypto money is going to be in bitcoin and ethereum I think I have about 200 of dogecoin which I bought just for fun but that is a very very small portion of my crypto portfolio and right now I have bitcoin in ethereum in a three to one ratio meaning that for every three dollars of bitcoin I have about one dollar in there.
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