What is the best coin to day trade for beginners?

5 answers

• Dec 16, 2021 · 3 years ago
  As a beginner in day trading, it's important to choose a coin that has good liquidity and low volatility. One coin that fits these criteria is Bitcoin (BTC). Bitcoin is the most popular and widely traded cryptocurrency, which means it has high liquidity and is less prone to sudden price swings compared to other coins. Additionally, there is a wealth of information and resources available for analyzing and understanding Bitcoin's price movements, making it a suitable choice for beginners.
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• Dec 16, 2021 · 3 years ago
  When it comes to day trading for beginners, I would recommend starting with a stablecoin like Tether (USDT). Stablecoins are cryptocurrencies that are pegged to a stable asset, such as the US dollar. This means that their value is relatively stable and less volatile compared to other cryptocurrencies. Trading stablecoins can be a good way for beginners to get familiar with the mechanics of day trading without being exposed to the high volatility of other coins.
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• Dec 16, 2021 · 3 years ago
  From my experience at BYDFi, I would suggest considering Ethereum (ETH) for day trading as a beginner. Ethereum is the second-largest cryptocurrency by market capitalization and has a vibrant and active trading community. It offers good liquidity and has a wide range of trading pairs available on various exchanges. Additionally, Ethereum's smart contract capabilities and decentralized applications ecosystem make it an interesting coin to trade and analyze.
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• Dec 16, 2021 · 3 years ago
  If you're a beginner in day trading, it's important to start with a coin that you understand and feel comfortable with. One popular choice among beginners is Litecoin (LTC). Litecoin is often referred to as the silver to Bitcoin's gold and offers faster transaction confirmation times compared to Bitcoin. It has a strong community and good liquidity, making it a suitable coin for day trading.
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• Dec 16, 2021 · 3 years ago
  When it comes to day trading for beginners, it's important to remember that there is no one-size-fits-all answer. Different coins have different characteristics and trading opportunities. It's important to do your own research and consider factors such as liquidity, volatility, and your own risk tolerance. Some other coins that are popular among day traders include Ripple (XRP), Binance Coin (BNB), and Cardano (ADA). Remember to start with small trades and gradually increase your position size as you gain more experience and confidence in your trading abilities.
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