Crypto has become a great and widely accepted source for making Investments. Many people have started exploring the world of crypto investments and everyone has different expectations from their Investments. There are people who like to invest for the long term to gain higher and stable benefits from the investment. On the other hand some people believe that they should start by investing short term in a Crypto to know how it works and how it benefits them.
Investing in crypto for a short term requires that the particular currency one is putting their money towards is such that it can lead to Greater benefits in a lesser amount of time. This ensures that even if the money had been invested for a less amount of time, one still gets benefits from it. Hence one of the best types of currencies to invest in is one that leads to higher returns in the least amount of time. This can include industry giants like bitcoin which can be accessed from bitcoinprime.software. There are a few cryptocurrencies that come with the features mentioned above. They are:
Litecoin
Credit: CoinDesk
In present Litecoin has become a very talked about and important cryptocurrency. There was a wide understanding about how reducing the supply of the overall currency would improve or increase the value of individual coin as per the forces of market economy which talk about the relation between demand and supply and how they affect the value of certain things. Litecoin has become popular in recent times due to the various innovations and new things that constantly evolve regarding it. These innovations help in the currency becoming suitable for a short term investment.
Chainlink
Source: beincrypto.com
Chainlink is among the most rapidly growing cryptocurrencies, offering tamper-resistant and dependable inputs and outcomes for sophisticated smart contracts on any blockchain. This makes it a great option for investing short-term. Moreover, Chainlinks’ distributed network allows for the analysis of identical information before it becomes a trigger, preserving the efficiency of the crypto.
Dogecoin
Source: Pinterest.com
Because of celebrities and major tech experts, dogecoin has become a popular subject in the crypto industry and has emerged as one of the notable meme coins. Dogecoin has amassed a devoted following and grown to become a prominent cryptocurrency option since its inception in 2013. Hence investing in it can help in kick starting one’s cryptocurrency journey.
But it is also important to know that unlike many other cryptocurrencies, such as Bitcoin, there are no restrictions on how many Dogecoins can be created, making the currency vulnerable to depreciation as supply grows. And hence, overtime in long term investments such a coin might lose its value.
Polkadot
Source: zipmex.com
Polkadot, which is currently trading at $8.76, is attracting investor attention due to its being more engaging. Developers can connect existing blockchain applications to the Polkadot structure or develop completely new blockchains. If one enjoys taking chances, their investment could pay off handsomely, but it could also underperform if a relatively new, improved technology emerges and overtakes Polkadot. The excellent thing is that it currently has financial value in exchanges, making it a cryptocurrency that’s worth keeping an eye on and investing in.
As an investor, one has much to gain, albeit at a higher risk, by investing in a promising new cryptocurrency opportunity. Polkadot, which is currently trading at $8.76, is less expensive, making it a more appealing purchase.
Bitcoin
Source: CCN.com
Bitcoin is an industry giant when it comes to cryptocurrency and anything related to it. This is why it can also be preferred during short term investments. It is a market leader and the standout cryptocurrency to consider investing in. Bitcoin has led the way in this nascent market, which is only a little more than a decade old. It has by far the highest market cap among its peers, standing at $800 billion. As a result, it is a “large cap investment” in the crypto space. In the crypto space, there is a saying that goes, “As Bitcoin goes, so goes the crypto market.” This is often true as the state of bitcoin often affects the state of other cryptocurrencies. It is also used analogously by many to refer to cryptocurrencies.
While there are numerous altcoins in the crypto markets, Bitcoin remains the market leader and is likely to be the safest bet. But one should always do their homework before they commit any money to this industry. One should have general and specific knowledge of the factors that impact cryptocurrency market phases, like hash prices, bitcoin halvings, regulations imposed by the government and state, and so forth. Having a thorough knowledge of these factors can make it easier for one to know when it is the right time to invest.
Conclusion
Investing in cryptocurrencies is one of the best ways to multiply one’s income in the present world. But it is only possible when one has a thorough knowledge of the different types of cryptocurrencies and how and when they can invest in them to get the best returns. Having this knowledge will make it much easier to trade in cryptocurrencies and gain high returns. Short term investment can be a great option for those who are just trying out cryptocurrencies to know how they function or those who want to make a quick profit. But one should also be careful while making short term investments since they can also lead to some kind of loss. This is why having a clear understanding of what is expected in a cryptocurrency for it to be suitable for short term investment is important.
Hence, there are certain currencies that can actually lead to benefit in the short term if invested at the right time. They include Litecoin, Polkadot, Dogecoin, Bitcoin and Chainlink. These can be great options for people who are just starting out and want to see how crypto works in short term.
