Every old coiner have gotten those times when people who don’t know a thing about cryptocurrencies have come to them for instructions on how to join the leagues of the coin traders and hodlers , and/or to get advice on what coin to put their money on. These people get the right advice sometimes, and the wrong advice sometimes, cos even the maestros in cryptos could get it wrong too; which is why they always add “Do Your Own Research” (DYOR) to their opinions on cryptos. So this is me about to give my own portion of the advice for the new coiners, hope someone finds it useful, and they apply their own logic and results from their findings to it.
If you are entering the crypto investment to be a hodler (someone who buys a coin and keeps it for a very long time to sell, knowing that on the longrun, the value of most coins increases largely), and you are looking for the coin to buy, my advice for you is to put your money on Ethereum. I always advice this because I know this coin doesn’t dip and pump like that, but when it does, it does that in big differences. For instance, if today you bought your 1ETH for 2,663.64USD, it could fall and rise every day between 2,000USD and2,663.64 USD in several weeks, but at some point when it’s really ready to pump, it pumps so high it could go from 2,663.64USD to 3,000USD in just one or two days. So as a hodler, you’re going to make a lot of money if you sell at this point, just because you bought it when it was #2,663.64USD cheap.
If you are entering the crypto investment to be a trader (one who buys at any little dip good for them and sells at any good pump good for them), you may need to choose Bitcoin. Reason for this is because BTC dips and pumps so fast. Although the dip and pump would be little, but BTC is always at it, and you can always get your little gains from every pump after buying at any dip. However, you can hodl BTC too; it’s a good coin for longterm big interests too. Because BTC may fall after every rise, but just like a few other coins, there are levels BTC don’t fall back to when it falls. But if you need a coin that’s the best for trading, choose BTC.
Olusegun Peters is a businessman, an investor and a scholar. He is passionate about contributing his knowledge to impacting as many people as possible one person at a time. Read more about Olusegun Peters here