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5 Best Crypto for Day Trading in 2022

5 Best Crypto for Day Trading in 2022

  • 31 May 2022
  • 102 View

Crypto investments are slowly taking over the financial sector as they offer investors high returns due to their volatility. In this article, we provide useful information about the best crypto for day trading, and how and where to buy the digital assets.

What is day trading?

Day trading is a trading practice where a trader sells a financial instrument on the same day it was bought. This strategy is also used in the stock market. There are several techniques used to bag profits while day trading, which are referred to as intraday strategies. They help make profits in a volatile market. The traders involved in day trading are referred to as speculators.

Although considered to be a fairly lucrative career, day trading can be quite challenging at first. Because of its risk potential, it is often equated with gambling. However, there is nothing to worry about. All you need is a good knowledge of wealth, some objectivity, self-discipline, and a bit of luck on the side to spice up the best deals. It simply uses volatility to your advantage!

5 Best Crypto for Day Trading in 2022

How to choose the best crypto for day trading?

Three factors determine the price movement in cryptocurrencies. These are – volatility, volume, and current activity of a coin. To determine the best crypto for day trading and learn how to choose cryptos for a day trade, you need to consider these three.

1. Volatility

This means the daily price fluctuations of a cryptocurrency. One thing to keep in mind is that crypto in general is a highly volatile market. Therefore, you can expect a rate between 10% and 50% – the higher the volatility, the bigger the win. However, one should keep in mind that this also means higher risk in the investment.

A trader looking to enter the cryptocurrency market would want to place their money on an asset with increasing price volatility. This way you ensure that you make a good profit when the asset skyrockets.

2. Volume

A cryptocurrency’s volume is responsible for determining what type of activity takes place around it. The volume determines whether enough people buy or sell this cryptocurrency. A higher trading volume indicates that more people are buying and vice versa. The higher volume also makes technical indicators more reliable and reduces the likelihood of unexpected price spikes or drops.

3. Breaking News

Crypto is heavily influenced by the discussions that take place around it. And sometimes even through unrelated discussions. Take for example the price increase of SHIB coins when Elon Musk tweeted about his desire to own a Shibu pup. To be successful with crypto investing, you need to be sharp. It could prove beneficial to educate yourself about the founders of crypto, follow the conversations they are having on social media, and be on the lookout for new discussions about cryptocurrency.


Why Bitcoin cloud mining?

An unknown individual or group called Satoshi Nakamoto introduced the Bitcoin network in 2009. In 2021, there will be more than 10,000 different projects in cryptocurrencies. So each of them has its role in building the future of money.

The market value of cryptocurrencies reached $ 1 trillion for the first time in January 2021. It passed $ 2.5 trillion less than three months later. So it shows that this market is one of the growing markets favoring its investors.

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5 Best Crypto for Day Trading in 2022

There are several cryptocurrencies available to invest in. However, this guide will review the best crypto for day trading in 2022.

  1. Lucky Block (LBLOCK) – Best crypto for day trading
  2. Fantom (FTM) – Most scalable crypto for day traders
  3. Solana (SOL) – Fastest crypto to day trade
  4. Cosmos (ATOM) – The most advanced cryptocurrency
  5. 5. Ethereum (ETH) – Best smart contract-based crypto
  6. Cardano (ADA) – Best performing token
  7. Polkadot (DOT) – Best Interoperable Crypto Asset

A closer look at the best crypto for day trading

1. Lucky Block (LBLOCK)

Lucky Block is a lottery-centric token that offers players convenience when placing bets. The Lucky Block token is one of the best cryptocurrencies to trade due to its impressive price over the past few weeks. The crypto started at $0.00020 on Jan. 25 and has seen significant growth in a short period.

The digital asset is currently trading at $0.0040, up over 1000% in less than three months.

Proposing unique value propositions, Lucky Block aims to revolutionize the lottery system by offering fairness in gambling. Blockchain technology claims to increase player winnings through a random selection system.

The blockchain continues to make improvements as it plans to create a bridge to the Ethereum blockchain through its v2 upgrade. The upgrade is in response to the tax complaints when depositing funds from decentralized exchanges to centralized exchanges. The Ethereum-based v2 token will appeal to investors looking to trade on centralized exchanges and will be exempt from the 12 percent tax levied on LBLOCK deposits.

The v2 upgrade represents a potential boost to the Lucky Block ecosystem and price. LBLOCK will experience more CEX listings with the upgrade, thereby bringing more traders on board.

2. Fantom (FTM)

Fantom

Fantom is a scalable, open-source blockchain that offers scalability and security for transactions at a low cost. The FTM token has made its way up the price ladder amid the bearish crypto market, making it one of the best crypto for day trading

The asset is currently trading at $1.188, which is below the Simple Moving Average (SMA) level of $1.45.

Fantom’s Moving Average Exponential (EMA) value of $1.156 shows that the asset is rather slowly gaining momentum as broad market downsides play an important role in this movie.

Fantom is on the way to widespread adoption as the Fantom token is now available on eToro. eToro is one of the most reputable crypto trading platforms in the world and is available in several countries. With FTM onboarded to eToro, the asset will become available to more day traders and improve price action. The digital asset is expected to start an uptrend as the crypto market moves out of bearish momentum.

3. Solana (SOL)

Solana is considered the fastest blockchain in existence, resolving over 50,000 transactions per second (TPS). This unique feature presents Solana as one of the day trading cryptocurrencies to watch out for in 2022. The Solana blockchain solves the problem of scalability and speed, trying to provide ease of use for users and developers.

Solana has been trading sideways for the past few days for $83.61. The asset is currently trading below the Simple Moving Average (SMA) level of $57.31.

Solana, with the help of Bonafida and the FTX partnership, launched the Solana Name Service (SNS) on the FTX exchange. The SNS allows users to deposit and withdraw without the confusion that comes with using wallet addresses. Unreadable wallet addresses are a major problem in transactions, often resulting in lost funds and creating a barrier to entry.

With the Solana name service, users can send and receive crypto without the risk of errors, which reduces the statistics of failed transactions in the Solana ecosystem.

4. Cosmos (ATOM)

Cosmos is an open, scalable blockchain focused on building interoperability for the economies of the future.

ATOM is one of the most powerful digital assets available due to the constant updates to its system, allowing users and developers to get the most out of the blockchain.

The asset is expected to trade sideways to establish new support before moving on to meet a new resistance price and establish new highs. The Cosmos crypto-asset makes one of the best cryptos for day trading because of the high-performing blockchain services it renders. One of the most powerful features of the Cosmos SDK is its modular design.

5. Ethereum (ETH)

5 Best Crypto for Day Trading in 2022

Ethereum is making the best crypto trades today for obvious reasons. The blockchain maintains a steady flow of transactions and provides developers with adequate tools to build multiple decentralized applications on top of it.

The platform made changes to its system to migrate to a proof-of-stake consensus mechanism. The blockchain launched a Kintsugi merge testnet in late December to give developers a feel for the Ethereum 2.0 UI. The team recently announced the launch of the Kiln-Merge testnet as an enhancement to the Kintsugi testnet.

After a series of tests surrounding the fusion, the Kiln execution layer was rolled out along with the Beacon Chain under Proof-of-Stake. The Kiln-Merge testnet is expected to be the last testnet to be created before the existing testnets are updated. Developers and node operators need to try the Kiln testnet to ensure a smooth transition to the existing public testnets.

With the new upgrades, Ethereum prices are expected to move beyond the current ranges, placing it at the top of the list of the best cryptocurrencies for daily trading.

How to buy the best crypto for day trading

Investors are now investing in the best crypto for day trading as the investment strategy offers high profits.

One of the best ways to buy such crypto assets is through a cryptocurrency exchange.

Crypto exchanges offer investors an easy way to trade cryptocurrencies with ease. These platforms also offer users access to other crypto pairs to use depending on how cheap they are.

The best cryptocurrency for today’s day trading is LuckyBlock as the cryptocurrency has seen impressive gains in a short time since its launch. The LuckBlock crypto asset can be bought on PancakeSwap and centralized exchange LBank.

How to buy Lucky Block

Investors looking to buy Lucky Block will need a crypto wallet like MetaMask or Trust Wallet to store their LBLOCK tokens. To buy LBLOCK, investors can follow this simple step-by-step process on the popular crypto exchange PancakeSwap.

1. Open Trust Wallet and deposit BNB

Open the Trust wallet mobile application and deposit BNB crypto assets to the Binance Smart Chain wallet. Click on the “DApps” button. Select PancakeSwap and let the browser page load.

2. Connect wallet

Click on “Connect wallet” and select “Trust wallet” to connect to PancakeSwap.

3. Add LuckyBlock’s contract address

Copy the LuckyBlock contract address and click on a token in the exchange function. Paste LuckyBlock’s contract address in the search bar and import LuckyBlock to the platform.

4. Exchange BNB for LBLOCK

Once you’ve imported LuckyBlock and selected the asset, enter how much Lucky Block you want to invest in and click “Swap”.

Conclusion

Day trading is one of the most lucrative investment ventures and investors need high-performing coins with great moving averages to get a good return on investment.

Lucky Block is the best crypto for day trading as the asset has risen several leagues to the top of the list of top-performing crypto assets since Bitcoin. If you are looking for a crypto asset that provides high returns over short timeframes, Lucky Block will your best bet.

15 responses to “5 Best Crypto for Day Trading in 2022”

  1. Herve Fodouop says:

    Good to know

  2. Isaac says:

    It is awesome keep it up

  3. Isaac ihaza says:

    Tron is coming up in respect to trading.

  4. Rodrigo Melara says:

    Trading have more risk, but with strategy you can have more incomes, all is in the practice.

  5. Christian Jara says:

    That’s…
    Trading it self is a risk, but with strategy you can have more incomes, all is in the practice.

  6. Cameron says:

    Great information

  7. Salman says:

    it’s interesting. This plan can be useful. Thankful.

  8. Amobi Izuchukwu says:

    Thanks for letting me know this.
    I really appreciate.
    Thanks

  9. Alfred Tetteh says:

    Day trading can be lucrative but learn the strategy patiently well and you will be very successful earning

  10. Ofir says:

    Nice article

  11. Joel Nando Bertorelli says:

    The coins in this article are a good choice for trading systems and strategies. Give the whole month and you will see the differences that the five points make here in this article.

  12. Angela says:

    Very good article about trading new coins and it is very interesting but you always have to remember that trading has some risk ,you shoud have a love of knowledge & experience

  13. Jeff says:

    Interesting.

  14. Isaac ihaza says:

    U so much appreciate.

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