Best cryptocurrency for day trading

 Best cryptocurrency for day trading


What do you think of the  best digital currencies for day trading ?  We will discuss this topic in this article. And we are going to mention the top 10 cryptocurrencies out of 16,500 different cryptocurrencies, as in previous years, which according to our good analysts are valid for day trading .

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The article Best Cryptocurrencies for Day Trading 2022 has been compiled with hours of research and analysis by the trading team, and all you read is just the conclusion and opinion of a major trading academy analyst. The content of this article should not be considered as a recommendation for investment, it is your responsibility. According to the science and knowledge you have in the field of technical analysis and cryptocurrency, research and measure the terms fully, but if you do not have enough knowledge in this field, we suggest that you participate in a digital face to face currency training course that does not cover your potential losses.

Also, I need to re-emphasize that market conditions are related to investments and if the market condition is not good, a good project will not help much; For example, when the market is bearish, you are likely to end up losing whatever you buy; Unless you are lucky and the project takes a different path.

What currencies do we present in this article

Choosing 10 digital currencies for daily trading from over 16,000 digital currencies is not an easy task; Especially when there are hundreds of promising projects among these digital currencies. Do you remember last year many projects had thousands of percent growth. In this article, we tried to consider all the different spectra and categories and the introduction of digital currencies according to the field in which you operate, as well as from large to small, so that in addition to investing in large and important digital currencies, it is possible to invest in projects that benefited smaller ones as well. Our main goal is to consider the lowest risks and then think about the growth potential of the project.

Best cryptocurrency for long term investmen

Introducing the best digital currencies for day trading

Here are the best cryptocurrencies for day trading

Tether (USDT) digital currency for daily trading

Unlike some other types of digital currencies, tether (USDT) is a stablecoin, which means that it is backed by fiat currencies such as the US dollar and the euro, and in theory holds a value equal to one of them. In theory, this means that the value of Tether is supposed to be more stable than other cryptocurrencies, and investors who are wary of the high volatility of other coins will support it.

Tether price is fixed at $1 per coin. This is because it is called a stable currency. A stablecoin is tied to the value of a specific asset, in the case of a tether, the US dollar. Tether often acts as a starting point when traders switch from one cryptocurrency to another.

Instead of getting back the dollars, they use tether. However, some people are concerned that tether is not securely backed by stored dollars, but instead uses a short-term form of unsecured debt.

Tether is owned by iFinex, a Hong Kong registered company that also owns cryptocurrency exchange BitFinex.

Tether was launched in July 2014 as RealCoin and renamed Tether in November 2014. It started operating in February 2015.

As of May 2022, Tether was the third largest cryptocurrency after Bitcoin and Ethereum (ETH) and the largest stablecoin with a market capitalization of nearly $83 billion.

As of April 2022, USDT Tether accounts for two-thirds of non-Bitcoin exchanges by value.

Explain Tether in clear language

Tether belongs to a generation of digital currencies, stablecoins, that are growing rapidly; Which aims to keep the price of its digital currency stable, usually by pegging it to the price of a traditional currency such as the US dollar. (Tether also issues tokens pegged to the euro, Chinese yuan, and gold, none of which contain more than a fraction of the market value of USDT tokens pegged to the US dollar . )

Collateral reserves, or mostly made up of stablecoins, are backed up, in order to ensure that stablecoins are not subject to the same price fluctuations as speculative cryptocurrencies such as Bitcoin.

In May 2022, the price of Tether briefly fell to $0.96 after the decline of a different stablecoin, TerraUSD (UST).

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Tether quickly rebounded to over $0.99, and Tether said it will continue to meet redemption orders of 2 billion cryptocurrencies on May 12 at a 1-for-1 ratio in the US.

 Binance Token (BNB) for daily trading

Binance (BNB) is a form of digital currency that you can use to trade and pay on Binance, one of the largest cryptocurrency companies in the world. As of Q2 2022, Binance is the world's largest digital exchange with a volume of $7.6 billion. Since its launch in 2017, Binance has only facilitated transactions on the Binance exchange.

They can now be used to trade, process payments, purchase goods and services, or even book travel arrangements. It can also be traded or exchanged for other forms of digital currencies such as Ethereum or Bitcoin.

The price of BNB in ​​2017 was only $0.10. By early July 2022, its price had risen to around $215, an increase of 214.900%.


 Binance Coin was initially implemented on the  Ethereum blockchain  with the ERC 20 standard, but has since become the main coin in the Binance chain. Binance was launched during the initial coin offering (ICO) in July 2017 and had a maximum of 200 million BNB coins. And 10% or 20 million Binance tokens were offered to project investors, 40% or 80 million tokens to the founding team, and 50% or 100 million to various participants through the ICO process.

About half of the capital raised during the ICO process is allocated to the Binance brand and marketing, while about a third is used to build the Binance platform and perform the necessary upgrades on the Binance ecosystem.

As mentioned earlier, Binance was originally based on the Ethereum network, but now the main currency is Binance.

3. Cardano (ADA) Intraday Cryptocurrency

In other words, Cardano is a decentralized Proof of Stake (PoS) blockchain designed to be a more efficient alternative to Proof of Work (PoW) networks. Scalability, interoperability, stability, increased costs, and low transactional energy use are the core principles of Cardano's development.

The original Cardano token, Ada, is used in the PoS consensus mechanism in the blockchain. Ada is awarded as a reward for work done in the blockchain by users participating in a pool of shares.

Charles Hoskinson, co-founder of Ethereum, started developing Cardano in 2015 and launched the platform in 2017.

Hoskinson launched Cardano as a more scalable, interoperable, and stable blockchain, with the goal of improving the Bitcoin and Ethereum platform.

Cardano has also presented itself as an alternative to Ethereum. Both systems are used for similar applications, such as smart contracts, and are intended to build a connected and decentralized system.

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Cardano considers itself an updated version of Ethereum and has presented itself as a "third generation" platform compared to the "second generation" Ethereum credentials. Cardano's blockchain platform also aims to provide banking services to unbanked people in the world.

It should be noted that Cardano is a smart blockchain platform that aims to improve functionality that Ethereum lacked initially. Cardano is designed to process transactions using a special digital currency called ADA.

The Cardano platform can handle all kinds of transactions, but its ultimate goal is to become a “Blockchain Internet,” creating an ecosystem that enables seamless switching between different blockchains.

One of the popular criticisms of Bitcoin and other popular cryptocurrencies is that blockchain networks, which are based on Proof of Work consensus mechanisms, waste large amounts of energy. Cardano uses a proof-of-stake consensus mechanism, providing a more stable and scalable blockchain.

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ADA is the digital currency of the Cardano platform. Cardano is named after Ada Lovelace, the 19th-century mathematician who is credited with being the first computer programmer.


People use the ADA digital currency to pay transaction fees. The ADA cryptocurrency is also given to miners as a reward for implementing a Proof of Stake scheme.

4. Solana (SOL) Intraday Cryptocurrency

Developed to aid the use of decentralized finance (DeFi), decentralized applications (DApps), and smart contracts, Solana's digital currency uses a unique combination of Proof of Stake (PoS) and Proof of History (PoH) mechanisms to process transactions quickly and securely. The platform is powered by SOL, the original digital currency of Project Solana.

Solana's price was about $0.77

When it is launched in 2020. By early July 2022, the price was around $40.58, an increase of more than 5100%.

Solana is a new cryptocurrency that is fast in transactions and the overall strength of the platform.

In other words, Solana is a highly functional open source project that implements a new, high-speed, Layer 1 blockchain without permission.

Founded in 2017, by former Qualcomm CEO Anatoly Yakovenko, Solana aims to increase productivity beyond what popular blockchains typically achieve while keeping costs low.

Solana implements an innovative hybrid consensus model that combines a unique Proof of History (PoH) algorithm with a fast synchronization engine, a version of Proof of Stake (PoS). For this reason, the Solana network can theoretically process more than 710,000 transactions per second (TPS) without requiring any scaling solutions.

Solana's third-generation blockchain architecture is designed to facilitate smart contracts and the creation of decentralized applications (DApps). The project supports a range of decentralized finance (DeFi) platforms as well as non-fungible tokens (NFT) markets.

Solana's digital currency is SOL. This is Solana's original and functional token, a means of transferring value and also blockchain security through staking. SOL was launched in March 2020 and has so far expanded to become one of the top 10 cryptocurrencies by total market capitalization.

The operating scheme of the SOL token is similar to that used in the Ethereum blockchain. Although it works similarly, Solana cryptocurrency holders share this token in order to validate transactions through the PoS consensus mechanism.

In addition, Solana digital currency is used to receive rewards and pay transaction fees; Solana's platform also allows users to participate in the governance of cryptocurrencies.  New digital currencies, the latest 8 new investment projects

 Polkadot (DOT) digital currency for daily trading

Launched  in May 2020, Polkadot  is a digital currency that links blockchain technology to many different cryptocurrencies. One of the founders of Ethereum is a member of the inventors team at the dripper, and some crypto watchers believe that the dripper is looking to dump Ethereum.

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Polkadot is a protocol that connects to the blockchain - allowing value and data to be sent over previously incompatible networks (eg Bitcoin and Ethereum). Dripper is also designed to be fast and scalable. The DOT code is used for fairness and governance. which can be bought and sold on stock exchanges.

The dripper protocol is designed to allow unrelated blockchains to interact securely with each other, so that value or data can flow between the Ethereum and Bitcoin blockchains without any intermediaries. It is also designed to be fast and scalable through the use of multiple parallel block chains (parachine), which removes a significant portion of the processing request from the main block chain.

 Shiba Token for Daily Trading

Market value: $5.7 billion

The Shiba Inu (SHIBUSD) is an Ethereum-based alternative currency that features the Shiba Inu - a Japanese breed of hunting dog - as its symbol. Shaybah is widely considered an alternative to Dogecoin. In fact, Shiba Inu fans refer to her as Dogecoin Killer.

Shiba Inu and Dogecoin are two digital currencies that are marketed more as a joke than a digital product with some uses!

While Dogecoin was launched in December 2013, while Sheba was created in August 2020 by an unknown person or group called Ryoshi. 

Shiba was developed as an answer to a simple question: what would happen if a cryptocurrency project was 100% community-run?

Shiba Inu founder Ryoshi attributes the Shiba idea to an experiment in "decentralized spontaneous community building". According to Ryoshi, the power of team decentralization can create something more powerful than team centralization.

Since Shiba Inu is an ERC-20 token based on Ethereum, it was created and hosted by the Ethereum blockchain, rather than its own blockchain.

Phantom (FTM) digital currency for daily trading

Market capitalization (market capitalization): $1 billion

Phantom is a decentralized, permissionless and open source smart contract platform for decentralized applications (dApps) and cryptocurrencies; The blockchain network is designed to provide an alternative to Ethereum. The Phantom Blockchain mainnet was launched in December 2019, and its network architecture aims to provide a viable solution for the Trilemma blockchain by providing a consistent balance between scalability, security and decentralization.

Like other Ethereum alternatives, Phantom aims to offer greater scalability and lower costs than a smart contract platform. The unique element of the Phantom platform is that users can create and deploy their own independent networks instead of relying on the main Phantom consensus layer.

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Each Phantom-based application runs on its own unique blockchain. While working on its own blockchain, each Phantom dApp also enjoys the security, speed, and finality of the main Phantom blockchain.

In addition, standalone blockchains have a modular structure that allows developers to configure them to implement their specific project.

Avalanche (AVAX) Intraday Cryptocurrency

Avalanche is a cryptocurrency and blockchain platform that is actually known as a competitor to Ethereum. AVAX is a native token of the Avalanche blockchain which, like Ethereum, uses smart contracts to support various blockchain projects.

Avalanche Blockchain can provide  instant transaction fulfillment. AVAX is used to pay transaction processing fees, secure the  Avalanche Network, and  act as the basic unit between the block chains of the  Avalanche Network . 

According to reports, the Avalanche Blockchain can process 4,500 transactions per second 

Launched in 2020, Avalanche aims for fast, versatile, secure, affordable and accessible processing.

Avalanche  Coin  is an  open source project, which means anyone can view and contribute the platform code.

 The Avalanche smart contract platform supports   both decentralized applications (dapps) and standalone blockchain. Here are some of the features that make the  Avalanche Blockchain unique:

Coin Generation Rate:  AVAX's maximum supply is limited to 720 million tokens, but AVAX users keep an eye on the minting rate of new coins. AVAX holders can control the rate of creation of new coins by voting to set the amount of AVAX paid as a reward for adding a new block to the Avalanche Blockchain.

Transaction fee structure: Transaction  processing fees vary depending on the type of transaction and the congestion of the Avalanche network. All shipments are burned - and taken out of circulation - so AVAX becomes more rare and valuable over time. Avalanche users vote to decide on the Avalanche transaction fee and subject the AVAX fee to change.

Consensus Mechanism:  Transactions on the  Avalanche Blockchain using a unique method that requires many small, random subsets of network participants to confirm transactions before they are completed.

Participation Incentives

: Faster response times can increase the amount of AVAX rewards that a network participant can earn for processing AVAX transactions.

Avalanche is powered by a Proof of Stake (PoS) mechanism. AVAX holders are required to share in exchange for the right to validate AVAX transactions; It means agreeing not to trade or sell.

 The Sandbox (SAND) digital currency for daily trading

Sandbox

Market value: $1.6 billion

The Sandbox  is a platform that runs on the Ethereum blockchain and runs a decentralized virtual game world.

In other words, Sandbox is a game where players can buy a digital land called LAND, create experiences in it and share it with other users. As such, Sandbox is a blockchain-based metaverse model similar to Decentraland.

Sandbox has two other native tokens that monitor processes in its metaverse:

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 Sandbox cryptocurrencies are used to facilitate various transactions that are part of gameplay, including purchasing LAND, interacting with user-generated content, and putting it to co-management of a decentralized autonomous organization (DAO).

Non-Foldable Tokens (NFTs) that represent in-game items such as equipment, avatars, and artifacts used to populate the grounds. It can be traded on the Sandbox market.

The first version of Sandbox was released as a mobile game in early 2012 in collaboration with Pixowl (led by Sebastien Bourget and Arthur Madrid) and game developer onimatrix.

In 2018, game developer Animoca acquired Pixowl, and the company announced plans to create a 3D sandbox-style world using blockchain, user-generated content (UGC), and the token economy.

 TRON (TRX) Digital Token for Intraday Trading

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Market capitalization (market capitalization): $6.2 billion

Tron is a decentralized digital platform based on its own blockchain technology called Tronix or TRX. Founded in 2017 by a Singaporean non-profit organization, Tron aims to host a global entertainment system for cost-effective sharing of digital content.

Initially marketed in Asia, TRON has now become a global digital currency. The platform had more than 50 million accounts as of August 2021.

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Tron was founded by Justin Sun, its current CEO; Tron platform has offices in Singapore and San Francisco. Born in 1990, Sun is also the CEO of BitTorrent, a file-sharing program.

Tron uses blockchain features and peer-to-peer (P2P) network technology to remove the middleman and allow content creators to sell their work directly to consumers. Application developers use the Solidity programming language to create applications that are hosted on the Tron platform.

TRX transactions are also free on the platform.

Users can store their Tron cryptocurrency in a desktop, mobile or hardware wallet.

In the end, we hope that you have benefited from reading this article to the fullest and that you now have a basic and more accurate understanding of cryptocurrencies. The best cryptocurrencies for day trading in the world.

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