From Bitcoin and Ethereum to Dogecoin to Tether, thousands of cryptocurrencies are available in the market. Cryptocurrency is decentralized digital money based on blockchain technologies secured by cryptography.
The first half of 2024 has been full of wonders regarding cryptocurrencies. One of the biggest markets has crashed in the last few years, with Bitcoin and Ethereum plummeting in value and the Terra collapsing completely.
However, if there is something we have learned over the past years, it that is the crypto market always succeeds in landing on its feet ultimately. Remember, now would be the perfect time to invest and capture these low prices to make a huge profit in the coming days, hopefully.
Key points on new Cryptocurrencies
As cryptocurrencies are an attractive asset class and can add diversity to your portfolio, potential investors are available in the market. There are various places you can monitor to see what crypto coins are coming online:
- Cryptocurrency exchanges: Coinbase, Gemini, crypto.com, Binance, Kraken
- Social media platforms: Twitter, Discord, telegram
- Data aggregator: CoinMarketcap, coin-gecko
- Tools: PooCoinCharts, TokenSniffer
- Web sites: Top ICO, ICO Bench, Smith&Crown
- ICOs: Initial coin offerings and fund-raising events for possible coin releases
How to buy Cryptocurrency online?
Suppose you are new to the world of Crypto and figuring out how to buy Bitcoin, Dogecoin, Ethereum, and other cryptocurrencies. In that case, you can start investing in Cryptocurrency by following these steps:
Choose a broker or crypto exchange:
To buy Cryptocurrency first, you must choose a crypto broker or crypto exchange. Some of the most renowned cryptocurrency exchanges are Coinbase, Gemini, and Binance.
Cryptocurrency brokers take the difficulty out of purchasing Crypto, some charge higher fees than exchanges. Others may offer free while providing information about what you and other traders are buying and selling. Robinhood and SoFi are two of the most renowned crypto brokers.
Create and verify your account :
When you decide on a cryptocurrency broker or exchange, you need to sign up to open an account. Depending on the platform and the amount you plan, you may have to verify your identity. This is an essential step in preventing fraud. The platform may ask you to submit your driver’s license or passport, and you may be asked to upload a selfie to prove your appearance matches the documents you submit.
Deposit cash to invest:
To buy Crypto, you need to have funds in your account. You might deposit money into your crypto account by linking your bank account, authorizing a wire transfer, or making the payment with a debit or credit card.
Place your cryptocurrency order:
While money is in your cryptocurrency account, you can make your cryptocurrency order. There are hundreds of cryptocurrencies, well-known names like Bitcoin, Ethereum, etc.
Select a storage method:
As there is a chance of theft or hacking, you could even lose your investment if you forget or lose the codes to access your account. That is why it is needed to have secure storage for your cryptocurrencies.
Some of the options are:
- Leave the Crypto on the exchange
- Hot wallets
- Cold wallets
List of the best new Cryptocurrency to invest in 2024
Here is a quick overview of the top cryptocurrencies to invest in 2024:
- Bitcoin: Bitcoin was launched in 2009 and is the father of all cryptocurrencies as it is the world’s most popular and largest Crypto. BTC is priced at around $31,000 per token, making it the perfect time to ‘buy the dip’ and keep it until the value increases.
- Ethereum: As the second-largest Cryptocurrency in the world, right after Bitcoin, This advanced version of Ethereum is set to be released in August 2024, which is why June is the best month to make early investments into ETH. Ethereum blockchain is the most accessed network for decentralized apps.
- Appcoin: if we take a look at the present performance, Appcoin is one of the hottest Crypto at this moment. The main reason why now is a great time to invest in AppCoin is that BAYC broadcast that it will launch a Metaverse in which AppCoin will be the primary currency.
Here are some more cryptocurrencies to be considered a long-term success:
- Binance coin
- Solana
- Dogecoin
- Terra
- Cardano
- Uniswap
- Avalanche
How to choose which new Cryptocurrency to invest in in the UK?
Like any investment sector, The cryptocurrency market is very dynamic. Despite the constant price change, market cap, and adoption, there are a few factors that you should consider while investing in Cryptocurrency:
Market capitalization:
The first thing you should consider while investing in Crypto is the size of the market cryptocurrency control can hint at its liquidity. The higher the market cap, the safer it is to invest. Usually, a higher market cap means a higher adoption rate and more people investing in that particular Cryptocurrency.
Adoption Rate:
If a cryptocurrency is widely used in real-world transactions, it is trusted and has more profit opportunities. If you are searching for mainstream adoption, Bitcoin is now widely used in business, insurance, and investments.
Technology:
Some cryptocurrencies might have higher mainstream adoption with desirable market caps but do not have the appropriate technologies for your desired investment needs.
So, it is important to be ensured before an investment if it has the features you are looking for.
Security:
The main desirability of blockchain technology is the privacy it offers its users. That means that you transact securely and enjoy the freedom of decentralized freedom. Being a highly risky investment, it is recommended that you should consider cryptocurrencies with better security features.
Where to buy the best new Cryptocurrency in 2024
Crypto Apps are the easiest way to monitor the crypto markets. These Apps help to buy and sell Crypto and engage in worldwide, decentralized finance.
The five best crypto Apps are:
- eToro: overall, the best Crypto App in the United Kingdom today
- crypto.com: This is the best App for lending. Crypto
- Coinbase: the most beginner-friendly crypto App
- Huobi: versatile crypto app for experienced investors
- Binance: best crypto trading App in the UK
UK investors must need the following things to buy Crypto
- The first step is setting up a wallet that supports the kind of crypto coin you want to purchase. Alternatively, you can do the same thing using a crypto App.
- Any govt. issued photo identity such as a passport is needed for verification
- A valid mobile number is necessary for further proceedings
- To buy cryptocurrency, you must have an account with a fund
UK investors should consider three safety issues after buying Cryptocurrency
There are a few things you can take to protect your Crypto:
- Keep your identity safe: Keeping your identity secure helps protect your finances. Someone may steal your identity, impersonalize you and break into your accounts. Never share your information regarding Crypto with someone else
- Don’t store your seed phrase on a device that’s usually connected to the internet.
- If you are using Crypto, never share a multifactor authentication code.
What is the best Cryptocurrency to invest in?
As mentioned earlier, there are over 12500 cryptocurrencies you can easily invest in. This multiple-choice can make it difficult to determine which cryptocurrencies to invest in. This section itemizes the top 10 digital assets to invest in:
- Bitcoin
- Ethereum
- XRP
- Solana
- Cardano
- Tezos
- Appin
- Dogecoin
- Uniswap
- Terra
Best UK Broker to invest in cryptocurrencies
To buy and sell Crypto in the UK, you must have an account with a trusted and low-fee broker. Here is a list of some best cryptocurrency brokers in the UK:
- eToro: eToro is an easy pick and the best crypto broker in the UK in 2024. They work based on various core factors such as low fees, small minimums, safety, and a super-user-friendly investment process.
- Huobi: if you are thinking of a long-term investment, Huobi would be one of your best choices. Another major advantage of Huobi for long-term investors is that you will have permission to crypto interest accounts. All you need to do here is deposit your Crypto into a suitable account, and you will be paid interest.
- Plus500: Plus500 is one of the best crypto brokers in the UK. The best part about trading Bitcoin with plus500 is that it provides you power on crypto orders to up to 2:1. Moreover, there are more cryptocurrencies like Ethereum, Bitcoin Cash, Litecoin, etc.,
- Avatrade: mobile trading has become a necessity in the cryptocurrency trading market since it allows you to easily supervise your position and lets you make the best decisions. Besides being the best mobile App for cryptocurrencies, AvaTrade is cost-effective as it allows you to get started for just £100.
FAQ:
How do I buy and sell Cryptocurrency online?
Ans: there are more than 100 cryptocurrency exchanges that you can use to buy Crypto online. But a few popular ones are Coinbase, Gemini, and Kraken. These are the online platforms where you can buy and sell cryptocurrencies.
Is it safe to use cryptocurrency?
Ans: as the price of cryptocurrencies is most volatile; there are some risks to consider before investing. However, Bitcoin technology is much safer.
Is it a good decision to invest in Cryptocurrency?
Ans: cryptocurrencies could be great investments with extremely overnight high returns. However, there is also a disadvantage to it. If you are willing to accept cryptocurrencies as a high-risk gamble which could pay off, then cryptocurrencies may be a good investment.
Conclusion:
If you believe cryptocurrency investment will become increasingly widespread over time, buying some crypto directly from the exchanges probably makes sense. For every Cryptocurrency, you invest in, be sure to have an investment notion as to why that currency will stand the test of time. If you explore and learn as much as possible about how to invest in Cryptocurrency, you should be able to achieve the investment risk as part of your overall portfolio.
If buying cryptocurrencies seems too risky, you can consider gaining profit from the rise of cryptocurrencies. You can buy the stocks of companies such as Coinbase and PayPal or invest in the CME group. However, investments in such companies may be profitable but do not have the same upside as cryptocurrencies.
