Want to start trading crypto now? Many people prefer working with eToro for their social trading and investing needs.
After managing to gather momentum over the weekend, cryptocurrency prices have shot up. Companies in this sector are likely to earn a profit as we progress toward a more digital society, regardless of what happens with cryptocurrencies.
Let’s take a look at the cryptocurrencies that have performed the best this week.
5 Best Performing Cryptocurrencies This Week
Cryptocurrencies have had an eventful year thus far. Thousands of cryptocurrencies exist, the majority of which have minimal value and unknown prospects. Cryptocurrency may not be for everyone, but by doing your research, you can reduce your risk to a minimum.
There are a variety of cryptocurrencies from which to pick. Which one is the best fit for you? The top 5 best performing cryptocurrencies for this week are listed below:
1. Celo (CELO) – Up 33.35% in the past week
Celo is a blockchain ecosystem aimed at promoting the acceptance of bitcoin among smartphone users.Celo wants to offer bitcoin to the world’s billions of smartphone users, even those without bank accounts, by using phone numbers as public keys.
This cryptocurrency last closed at a price of $6.81.
2. Avalanche (AVAX) – Up 22.88% in the past week
This is a platform that may be used to develop decentralized finance (DeFi) applications, financial assets, transactions, and other services. It aspires to be a global asset exchange, allowing anybody to create, trade, and manage any type of asset.
This cryptocurrency last closed at a price of $59.92.
3. OMG Network (OMG)- Up 19.44% in the past week
OMG Network is a layer-2 scaling approach for the Ethereum network that is non-custodial. This cryptocurrency is an Ethereum scaling solution that allows users to send ETH and ERC20 tokens more efficiently.
This cryptocurrency last closed at a price of $10.61.
4. Ren (REN) – Up 19.07% in the past week
Ren (REN) is an open protocol that aims to bring interoperability and liquidity to various blockchain platforms. It seeks to increase the interoperability of decentralized finance (DeFi) and therefore its accessibility by eliminating the barriers to liquidity between blockchains.
This cryptocurrency last closed at a price of $0.8369.
5. AUDIUS (AUDIO) – Up 12.33% in the past week
Audius is a decentralized music-sharing and streaming system that allows listeners and producers to trade directly, allowing anybody to distribute, market, and share music.
This cryptocurrency last closed at a price of $2.46.
How To Invest in Crypto
Investing in crypto can be done in just a few easy steps. In moments, you will be on your way to investing in some of the best performing cryptocurrencies.
1. Find Your Preferred Crypto Exchange
You’ll need to utilize a cryptocurrency exchange if you want to purchase or sell cryptocurrencies. These online businesses are comparable to stockbrokers in that they provide you with the tools to purchase and sell digital currencies.
With minimal fees and robust security features, the top crypto exchanges make it simple to purchase and sell the currencies you desire.
2. Signup With Your Preferred Exchange
Here are some of the most popular exchanges that you can use to start trading cryptocurrencies:
- eToro: Investors on eToro can start trading cryptocurrency after they pay an account minimum of $50. The website and mobile app provide a variety of different features, are well-designed, and simple to use. This popular crypto exchange gained its reputation with its social investing platform, an innovative technology that allows users to imitate the trades of other investors. Sign up here with eToro
- Coinbase: Coinbase is the most convenient exchange for new investors to locate various cryptocurrencies. You can buy and sell popular digital currencies in a single location and monitor each of them. Coinbase Pro has a cheaper cost structure and substantially more charting and indicator capabilities than Coinbase. Sign up here with Coinbase
- Binance: Binance offers a diverse range of cryptocurrencies and has one of the lowest trading fees among cryptocurrency exchanges. It offers more than 50 cryptocurrencies, however it is not available in seven states in the United States.
- Kraken: Their team of security specialists works around the clock to secure your bitcoin investments and identity by covering every conceivable attack vector. Your trade orders will be completed promptly and at the price you specify thanks to Kraken’s high-liquidity exchange.
3. Create & Verify Your Account
Each crypto trading platform has a broad registration procedure that is quite similar. To begin, you’ll need to enter some personal information, which may be as simple as your name and email address.
Then you will have to verify your account.
4. Make a Deposit & Make Your Purchase
To start buying crypto stocks, you’ll need to make a cash deposit after you’ve established a legal payment method to your account.
5. Determine Your Storage Method
A digital wallet is frequently used to store bitcoins. A hardware-based digital wallet or a web-based digital wallet are both feasible. The wallet can be stored on a mobile device, a pc, or the private keys can be printed and kept secure.
6. Monitor Your Performance
Cryptocurrency, like any other investment, requires constant control, management, and monitoring. The digital currency business continues to expand and attract newcomers.
As a result, numerous firms have developed innovative tools to help crypto traders make respectable profits.
Should You Invest in Cryptocurrency?
Cryptocurrencies have been shown to be very lucrative. On the flip side, investing in cryptocurrency can be incredibly risky due to its volatile nature. Despite the risks associated with cryptocurrency trading, investments in cryptocurrency are increasing across the globe.
If you want to start investing in the best performing cryptocurrencies, you should consult with a financial advisor first to see if this fits your personal investment goals.
Frequently Asked Questions
Cryptocurrency is a type of digital money that utilizes encryption to validate transactions on a publicly distributed record known as the blockchain, allowing direct peer-to-peer payments.
Investing in crypto assets is risky, but it can also be highly lucrative. If you want to obtain exposure to the popularity of digital currency, cryptocurrency is an excellent investment.
Due to the decentralized and accessible structure of distributed ledger technology, the blockchain technology that underpins bitcoin is safe.
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