Best cryptocurrency to invest today for short-term might be a question you have in your mind as a cryptocurrency investor in order to make a quick profit. If so, you’re in luck since I’ve compiled a list of the most promising cryptocurrency assets, which are frequently regarded by traders as the greatest for making quick profits.
But remember that this is not financial advice, and the list was created based only on the widely held beliefs of numerous cryptocurrency fans. Furthermore, given the volatility of the cryptocurrency market, an asset may be appropriate for short-term trading one day and totally inappropriate the next.
Therefore, before making any significant decisions, it’s crucial to DYOR (do your own research), trade on reliable exchanges like Coinlocally, and speak with a financial advisor. That being said, your research will be much easier because this article will give you a solid foundation for short-term trading.
Now, the cryptocurrencies that will be covered in this post are some of the greatest ones to invest in right now for quick profits:
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Table of Contents
• What is Short-Term Crypto Trading?
First, we need to go over the fundamentals of short-term crypto trading before delving deeper into each and every crypto asset on the list.
What is Short-Term Crypto Trading?
In order to discover the best cryptocurrency to invest today for short-term, you must be aware of what short-term trading is, particularly if you’re looking for the greatest cryptocurrency to buy now for the near future. Furthermore, the name needs to be quite self-explanatory.
To put it simply, nevertheless, purchasing the best cryptocurrency to invest today for short-term and keeping it for a brief while is regarded as a short-term investment in cryptocurrency. The average holding time is between a few minutes and roughly two weeks.
The best cryptocurrency to invest today for short-term is heavily influenced by social signals and market fluctuations. The price of a particular cryptocurrency asset can rise dramatically with just one tweet from a well-known figure. It can, however, drop just as swiftly after a few hours or days.
Consequently, short-term trading requires continuous monitoring of the news, the cryptocurrency market, and other factors that may impact the price of an asset. Therefore, if you want to make a respectable profit from this type of trading, you must dedicate yourself to it full-time.
We know that the work at hand won’t be easy. The crypto market is incredibly volatile and unpredictable, so you never know what will happen when it will happen, or for how long. Because of this, skill is not the only prerequisite for short-term trading; luck also counts heavily.
Additionally, keep in mind that trading is a high-risk activity that has the potential to yield significant gains or losses in the short term. Thus, if you want a less risky investment, long-term trading—which comprises buying bitcoin and keeping it for a significant amount of time—is your best bet. (usually in years).
Returning to short-term trading, it is important to note that there are various types. So what are they?
Types of Short-Term Trading
Short-term trading can be broadly classified into three categories: swing, day, and scalp trading. Let’s take a closer look at each.
Scalping, often called scalp trading, is the practice of buying and selling cryptocurrencies at short intervals (one to fifteen minutes) in an attempt to benefit from minute price swings. The profits typically fall between 1% and 3%.
Thus, the aim of scalping is to lock in early gains while generating a lot of small profits and to find the best cryptocurrency to invest today for short term. Because of this, it requires a lot of time to turn a profit because you have to make hundreds of trades per day.
Scalp traders, or “scalpers,” usually enter the market after a significant sell-down or pump, or when the market displays horizontal support and resistance levels. In order to be profitable, scalping requires a highly volatile market.
All things considered, scalping is an effective way to generate quick profits with little to no basic market analysis. However, it does require a lot of work, and you have to be very particular about where you enter and exit.
Day trading and scalping are somewhat similar, apart from focusing on bigger price changes and longer time frames (from 15 minutes to a day). Furthermore, day trading profits often vary from 5% to 15%.
This type of short-term trading happens faster since day traders execute fewer trades per day than scalpers. The most important rule for day traders is to close all of your trades at the conclusion of the trading day.
One of the most important aspects of day trading is also high market volatility. Additionally, this type of trading usually relies on news about cryptocurrencies, which can occasionally result in unexpected price surges due to public events.
When all is said and done, day trading also yields rapid returns; however, it does require technical and fundamental market research, which is time-consuming, just like other short-term trading.
Swing trading is the practice of purchasing and selling bitcoin assets over longer time frames (a few days to a few weeks), with an emphasis on even larger price swings than day trading. Gains might range from 15% to even 100% (with luck) because it seeks to capitalize on larger price changes.
This type of short-term trading takes the least amount of time out of the three because you would normally make a few trades per month. However, it also requires a high level of technical and foundational analysis skills.
Cryptocurrency news plays a critical role in this type of trading since traders often open positions anticipating events that could lead to an asset’s value increasing more quickly. As a result, you need to stay up to date on all the recent changes in the bitcoin sector.
To sum up, swing trading is the most time-consuming and risky of the three, but it also yields the highest profits. It also requires the highest level of analytical skill.
Best Cryptocurrency to Invest Today for Short-Term
Check out the list of the best cryptocurrency to invest today for short-term now that you have a fair understanding of what short-term trading entails. Just keep in mind that since this ranking is based only on the generally held opinions of many cryptocurrency traders, it could alter at any time.
Because of this, there is no assurance that an asset will continue to be the best cryptocurrency to buy now in order to make quick profits in the future. Before making any big financial decisions, consult a financial expert.
That being said, let’s begin creating the list as follows;
• Bitcoin (BTC)
Even if you are new to the world of cryptocurrencies, you have undoubtedly heard about Bitcoin (BTC). In the end, the first cryptocurrency to become widely used establishes the cornerstone for the core values that steer the cryptocurrency industry. It is without a doubt present on the majority of lists of the “best cryptocurrencies to invest in today for short-term gain.”
In 2009, Bitcoin was formally introduced by Satoshi Nakamoto. The goal of the Bitcoin invention was to create peer-to-peer digital money decentralized from third parties and outside financial institutions. As of 2023, according to market capitalization, Bitcoin is still the most popular cryptocurrency and seems to be here to stay.
Why does it rank as the best cryptocurrency to invest today for short term, though? First of all, there is a lot of liquidity in Bitcoin. Due to the constant availability of buyers and sellers for trade, you are able to open and close positions quickly. It doesn’t matter if it’s two AM or two PM.
Furthermore, the extreme volatility of Bitcoin has both benefits and drawbacks. Even if volatility is practically a must for short-term cryptocurrency trading, there is always a chance that Bitcoin’s volatility will lead to large gains or losses.
This is true because, in a matter of hours, the price of Bitcoin can fluctuate by thousands of dollars. You could lose a lot of money if you don’t close or open your entry and exit points at the appropriate times, therefore they need to be extremely exact.
Additionally, because its price is impacted by numerous financial and cryptocurrency-related news stories, Bitcoin is regarded as one of the greatest cryptocurrencies for short-term trading. For instance, following the failure of the Silicon Valley Bank in March 2023, the price of Bitcoin increased by around 20%.
Thus, day trading or swing trading are the best uses for Bitcoin. Remember, though, that a lot of people think that investing in Bitcoin, as the best cryptocurrency to invest today for short-term, is also a wise long-term strategy because of the belief that the restricted supply of the cryptocurrency will raise its price considerably more later on.
Liquidity, volatility, and news responsiveness are the three primary factors that make Bitcoin one of the top cryptocurrencies for quick profits, according to traders.
Buy Bitcoin safely on such a renowned cryptocurrency exchange as Coinlocally.
• Ethereum (ETH)
Another very well-liked asset is Ethereum (ETH), which a lot of cryptocurrency aficionados believe is one of the greatest cryptocurrencies available right now as the best cryptocurrency to invest today for short-term, and long-term profits as well.
2015 saw the formal introduction of Ethereum. The Ethereum network is mostly credited with popularizing decentralized apps (dApps) and smart contracts in the cryptocurrency space. Furthermore, take notice that, as of June 2023, Ethereum, immediately after Bitcoin, is the second-largest cryptocurrency asset by market capitalization.
Due to Ethereum’s widespread use, cryptocurrency assets are very liquid. You already know that if an asset is liquid, there will always be someone with whom to trade it. Regardless of whether you choose to sell or acquire it. In short-term trading, having the ability to enter and exit positions rapidly is critical.
Ethereum is undoubtedly volatile now that volatility is taken into account. Its price varies during the day from a few dollars to a few hundred dollars, albeit it is not as volatile as Bitcoin. Ethereum is therefore a good choice for day trading or even swing trading.
In addition, the Merge, which happened in 2022, should be noted. Ethereum’s consensus method was upgraded from Proof-of-Work (PoW) to Proof-of-Stake (PoS), which was a significant change.
What relevance does it have on ETH’s standing as one of the best cryptocurrencies to earn quickly? Because of the Ethereum network’s increased scalability, faster transaction speeds, and much lower energy consumption, ETH is becoming a more alluring and environmentally friendly investment choice.
In conclusion, a lot of analysts argue that Ethereum is among the greatest cryptocurrencies to buy in the near future because it is volatile, liquid, and increasingly a green investment choice.
If you want to buy Ethereum quickly, consider using such a crypto exchange as Coinlocally.
• Ripple (XRP)
The native token of Ripple, an open payment network powered by XRP Ledger, a decentralized public blockchain, is called XRP. Because of its special consensus system, it is primarily recognized for offering low costs, lightning-fast transactions, and environmental friendliness.
The XRP Ledger Consensus Protocol prioritizes trust-based validation in order to reduce competition and resource waste. Therefore, this consensus technique is far less harmful to the environment than Proof-of-Work (PoW), for instance. Additionally, because the network can process up to 1,500 TPS, it makes the network extremely scalable.
When looking for the best cryptocurrency to invest today for short term, traders often turn to XRP because of its low costs and quick transaction speeds. After all, speed is essential for short-term trading, and minimal fees are always a benefit.
Apart from that, XRP is one of the most popular cryptocurrencies out there, meaning it has a lot of liquidity and can be traded quickly throughout the day.
When it comes to its daily price fluctuations, however, it often varies by a few pennies. Therefore, scalping—which focuses on little price swings to make a tiny profit—would likely be the best usage for XRP.
Finally, it’s important to remember that the XRP Ledger network is being improved by a robust development team. The XRP token will therefore most likely continue to score highly among cryptocurrencies like Ethereum and Bitcoin if the network grows, suggesting that it has a bright future ahead of it.
All in all, XRP could be the best cryptocurrency to invest today for short term because of its quick transaction times, cheap fees, liquidity, and volatility.
• Dogecoin (DOGE)
One of the most well-known memecoins in the cryptocurrency space is Dogecoin (DOGE), which is based on the “Doge” meme that features a Shibu Inu dog. But Elon Musk is the primary factor for the meme’s success rather than the meme itself. Does this mean that DOGE is the ideal cryptocurrency for making quick money right now? Watch this.
The main cause of the Dogecoin craze was Elon Musk’s tweet in early 2021 including the Lion King and a DOGE meme. Musk’s passion for DOGE caused a dramatic spike in its price at that time—more than 10,000%!
Furthermore, despite the swift decline in Dogecoin’s value, the asset has remained highly popular to this day. It is still quite susceptible to other cryptocurrency news and social media posts, especially in regard to Elon Musk’s (sometimes) tweets. Of course, the initial euphoria cooled a little. By the way, this link will allow you to view DOGE’s social signals.
Given its evident volatility, Dogecoin is regarded by many cryptocurrency fans as the best cryptocurrency to invest today for short term. The fact that DOGE’s price typically varies by a few pennies during the day makes it best suited for scalping, nevertheless.
One more element that makes DOGE a liquid asset and appropriate for short-term trading is its high trade volume. Therefore, you don’t need to worry about encountering any problems when closing and opening positions.
If you intend to spend more, bear in mind that Dogecoin is a very dangerous investment that depends heavily on luck because it is mostly driven by excitement and speculation. As a result, proceed with prudence and evaluate your risks (this goes without saying for investing in any form of digital asset).
In conclusion, Dogecoin’s volatility, liquidity, and general buzz are the primary factors cited by cryptocurrency traders as the best cryptocurrency to purchase right now in order to profit in the near run. Just keep in mind that the cryptocurrency market is very erratic, particularly when it comes to assets that have generated a lot of excitement!
If you’re wondering where to buy Dogecoin, I suggest using trustworthy crypto exchanges like Coinlocally.
• Shiba Inu (SHIB)
Shiba Inu (SHIB), another memecoin, was developed with the primary objective of surpassing Dogecoin. Since it was similarly influenced by the Shiba Inu dog breed, has Elon Musk at its core, and is widely regarded as one of the top cryptocurrencies to buy right now for quick profits, it actually shares a lot of parallels with DOGE.
However, it developed into the entire Shiba Inu ecosystem from being just a basic memecoin (which is uncommon for memecoins). These days, Shiba Inu has two more tokens (LEASH and BONE), its own decentralized exchange (ShibaSwap), the Shiba Inu project incubator, and even the Shiba Inu Rescue Association.
The Shiba Inu Rescue Association, the Shiba Inu project incubator, two additional tokens (LEASH and BONE), and even their own decentralized exchange (ShibaSwap) are now available. Why then is it regarded as one of the top cryptocurrencies to purchase right now in order to profit quickly? It is a well-known, liquid, and extremely volatile cryptocurrency asset that is greatly influenced by hype, to start. As with Dogecoin, Elon Musk was a key factor in this memecoin’s popularity.
Musk merely needed to tweet about obtaining a Shiba Inu dog to send the SHIB token’s price skyrocketing by almost 300%. The impact of a single tweet from a prominent figure is quite astounding. Therefore, you need to continuously follow the news and keep an eye on SHIB’s social signals if you intend to purchase it as a short-term cryptocurrency investment.
It should be noted that the Shiba Inu token is likely the most advantageous for scalping due to its extremely low cost and wide price range, despite significant fluctuations.
Overall, SHIB the best cryptocurrency to invest today for short term because of its high volatility, liquidity, and hype-driven nature.
• ApeCoin (APE)
Are you familiar with the NFT collection of the Bored Ape Yacht Club (BAYC)? You have, I’m sure since it’s one of the most popular NFT compilations out there. The native currency of the BAYC ecosystem is called ApeCoin (APE), and it frequently appears on lists of the “best cryptocurrencies to invest in today for short-term gains.”
But why is this the case? First of all, because of its wide range of applications, APE is a popular and liquid cryptocurrency asset. It functions as a gating token, a payment method on the BAYC ecosystem, an incentive mechanism, and a governance token in the ApeCoin DAO.
Apart from that, ApeCoin is somewhat erratic, particularly in response to recent developments in the cryptocurrency world. Since it is connected to one of the most well-liked NFT collections, any news that impacts the collection may also have an impact on the price of APE.
Regarding the price of APE, given that its swings often range from a few pennies to a few dollars, this token is likely among the finest ones to invest in for quick profits through scalping or day trading.
Thus, trading APE will require a significant amount of work if you want to make more money (though this is true of any cryptocurrency short-term investment strategy).
In conclusion, because of the volatility of the APE price and the popularity of the Bored Ape Yacht Club (BAYC) NFT collection, many cryptocurrency traders consider ApeCoin to be among the finest short-term investments in the cryptocurrency space.
How to Start Investing?
Now that you are aware of which assets are usually seen to be the best for making rapid profits from cryptocurrency investing, you might be wondering how to get started. Let’s walk through the process.
✓ Step 1: To purchase the asset you wish to invest in and then sell it, you should first select a trustworthy cryptocurrency exchange and the best cryptocurrency to invest today for short term. Look into centralized exchanges like Coinlocally. Its robust security protocols and user-friendly features will ensure a hassle-free and safe trading experience. Following your exchange selection, you must register for an account. Keep in mind that the majority of centralized exchanges mandate the KYC process for users in order to guarantee their security and stop any fraudulent activity.
✓ Step 2: You will need to purchase your first cryptocurrency after setting up your account. For a more detailed explanation on how to accomplish that, check out this tutorial. To sum up, however, using a credit or debit card is the easiest way to purchase cryptocurrency.
But not every asset can be purchased with fiat money. So, an additional option would be to just buy a different, well-known cryptocurrency (like Ethereum or Bitcoin) and utilize spot trading to swap it for the one you want.
✓ Step 3: After selecting an exchange and starting to trade there, you need to have a secure cryptocurrency wallet. To securely store your profits, you must to need a hardware wallet, even though the majority of exchanges come with built-in software wallets that are quite useful for short-term trading.
These are the primary actions that need to be taken in order to begin trading cryptocurrency, be it short-term, long-term, or any other kind of trading. This is, of course, a condensed version of it.
In order to be successful, you should also use risk management techniques, technical indicators, a sound trading strategy, and even the creation of a trading notebook, which will help you keep track of everything you trade.
Furthermore, never forget that you must begin small. Regardless of whether you wish to invest in cryptocurrency for the long run or the short term.
Conclusion
Now that you know the basics, you may start short-term cryptocurrency trading and profit quickly by purchasing Best Cryptocurrency to Invest Today for Short-Term. All you need to do is choose a reliable cryptocurrency exchange, such as Coinlocally, and begin trading!
Naturally, keep in mind that the cryptocurrency market is highly erratic and volatile, so even while an asset might be the ideal one to purchase right now for quick profits, it might not be tomorrow. In addition, trading is often a high-risk investment, therefore you should only make amounts that you can afford to lose.
Always remember to DYOR, keep a constant eye on the cryptocurrency market, and be informed about any news and developments in the business. In relation to that, this website has the most recent news regarding cryptocurrencies, and our crypto tracker offers pertinent data for assessing the cryptocurrency market.
