Wow! Just look at that market cap. The cryptocurrency market is topping $2 trillion at the time of writing, and it doesn’t look like it’s going to stop here. Having already touched $2.5 trillion earlier this year, investors are hoping the current upswing will lead the market to a new all-time-high. And it just might.
Alongside Bitcoin (BTC) and Ethereum (ETH), the crypto market has made terrific gains for investors this year as top altcoin names like Dogecoin (DOGE) make their way into the mainstream lexicon. Finding a reputable exchange that carries it, however, can take some research and patience.
Experienced traders often open accounts on multiple exchanges to increase their selection of altcoin offerings. But picking a reputable exchange in this growing industry can be daunting. Webull provides a 1-stop-shop for stocks, options, exchange-traded funds (ETFs) and cryptocurrencies.
With Webull, traders of all experience levels can start a crypto portfolio. Webull has created a fantastic trading platform for both novice and experienced traders. With advanced charting and analysis tools, Webull stands out as a leading exchange for tech savvy investors.
So what are the best cryptocurrencies on Webull? And what’s the real difference between Bitcoin and the rest of the altcoins available on the platform?
Bitcoin Versus Altcoins
Bitcoin stands out prominently as the world’s 1st and largest cryptocurrency. Taking up more than 43% of the total crypto market, Bitcoin remains the safest choice for investors seeking long-term gains with minimal relative risk.
With that said, altcoins have absolutely exploded this year, returning monstrous gains for the holders of a few key currencies. Projects like Dogecoin and Cardano (ADA) have stood out from the pack with 40% gains this last week alone.
Of course, trading altcoins carries a much higher risk. But with high risk comes high reward. Diversifying your holdings into Bitcoin and a number of other top-tier altcoins is a great investment strategy.
It’s good to keep in mind that Bitcoin operates on its own blockchain. Many altcoins, however, run on top of the Ethereum blockchain. While these ERC-20 tokens represent unique companies, the prices of the currencies often correlate with one another and the native token of their adopted platforms — in this case ETH.
Best Cryptocurrencies on Webull
For any exchange, a diverse offering of cryptocurrencies will bring more customers to the table. And though many 1st-time buyers of cryptocurrency stick to Bitcoin exclusively, savvy traders are looking to purchase a number of high-risk, high-reward altcoins.
Indeed, holding a diversity of cryptocurrencies in your portfolio has proven a solid investment strategy. Still, avoiding overpriced assets is key when choosing from the selection offered on any exchange. After carefully analysing the price and utility of each coin on the platform, the following list represents the best cryptocurrencies on Webull:
- Bitcoin (BTC) has pulled back from $48,000 recently, giving prospective buyers a great opportunity to get in on this original blockchain currency. The undisputed leader of the crypto universe, Bitcoin won’t stay down for long.
- Ethereum (ETH) has made huge strides toward transitioning into a proof-of-stake blockchain. The undisputed leader of the smart contract space, ETH 2.0 promises to bring the No. 2 cryptocurrency by market cap into a cleaner, faster future. ETH is sitting just under $3,200 at the time of writing.
- Dogecoin (DOGE) takes 3rd on this list of the best cryptocurrencies on Webull. With a number of celebrity endorsements, name recognition alone can propel this meme coin to the moon. Dogecoin is currently trading near $0.33. The Shiba Inu-themed cryptocurrency recently fell dramatically from a high of $0.72, coinciding with Elon Musk’s appearance on Saturday Night Live.
- Cardano (ADA) has announced its blockchain platform will finally accept smart contracts by Sept. 12. The potential exists for Cardano to take market share from Ethereum in the near future should the Alonzo hard fork happen on schedule. ADA is trading near $2.08 at the time of writing.
- Stellar (XLM) came in last but not least on this short list of the best cryptocurrencies on Webull. A solid performing asset with years of experience in the altcoin space, XLM is trading near $0.37 at the time of writing, having increased more than 23% in the last week.
Cryptocurrencies You’re Missing out on
There are a few top-tier cryptocurrency projects missing from Webull’s offering. These altcoins include Polkadot (DOT), Solano (SOL) and Chainlink (LINK). Both Polkadot and Solana are smart contract enabled blockchains that compete with Ethereum and Cardano, both of which have multi-billion dollar market capitalizations. Chainlink is extremely promising as well, as it aims to integrate real-world data to blockchains. Luckily, each of these is available on Coinbase as well as a few other exchanges.
Store Your Crypto Safely
Whichever exchange you decide to use, you’re going to need to find a way to store your crypto safely. Whether you decide to buy a cold storage wallet like Ledger or a software wallet like Coinbase offers, taking full ownership of your cryptocurrency requires you to move it off of the exchange after your purchase.
Don’t forget to keep your passphrase and private keys safely tucked away. With Ledger, your private keys are stored on the device.
Cryptocurrency Price Movements
Cryptocurrency prices have calmed some after experiencing enormous gains last week. Settling briefly, the market looks poised to accept a new tranche of support as the investing world continues to look for creative ways to hedge against the dollar. With market participation increasing and top-tier altcoins becoming household names, many investors are preparing for a massive influx of fiat into the space.
Bitcoin is holding steady, hovering around $46,500 at the time of writing. While altcoins have stolen the headlines as of late, the cryptocurrency world is expecting Bitcoin to explode higher in the coming months as institutions invest further into the decentralized economy.
Other Cryptocurrency Exchanges Available in the US
Alongside the growth of blockchain companies, traditional and decentralized exchanges (DEXs) offering cryptocurrencies have become readily available to U.S, consumers. While the most popular option is likely Coinbase, another great option is Voyager.
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
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