Is Crypto the Way to Go?

There are many people who had an opportunity to get involved in Bitcoin (BTC) when it first came out, but choose not to because “it won’t go anywhere”. The concept of virtual currency being worth anything back then seemed like such a bizarre concept. Fast forward to today and one single Bitcoin is worth over 100k on a good day. This has resulted in an abundance of people kicking themselves for not taking the chance back when it was offered to them. The good news is that the concept of cryptocurrency is not going anywhere anytime soon, so there are many more possible opportunities to get in and not miss out on a potential big investment like Bitcoin.

If you are interested in taking a chance at the crypto investment market and not getting left in the cold again, here are a few suggestions for some great starter cryptocurrencies that may offer some awesome return! (Please see disclaimer at the end of this article prior to making any investment decisions.)

1. SHIB: For beginning investors, SHIB can be a good choice. Currently trading at $0.00002 per coin, it makes SHIB an attractive, low cost option to invest in currently. This token has very frequent fluctuations in the market as well so it can potentially be good for quick gains if you are careful and watchful of the trends. SHIB has been a frequent flyer on the meme coin popularity board and there are strong opinions in both directions on the future of this token. However, with a entry price so low, it is hard to rationalize a reason to not toss a few dollars in at this point!

2. XRP: This crypto option has jumped from $0.50 at the end of October 2024 up to $2.66 at the time of this article. This has been a huge gain for investors who got in early while the price was still under $1.00! Many are wondering if it is too late to still get in on this wave. A good way to think about it is this — if you could have bought BTC when it was priced at $50.00 per token, knowing what you know now, would you have made that leap back then? The price of XRP is still low enough to be able to possibly make a significant return, especially if this price action continues up into the double or even triple digits like many analysts are predicting. That makes XRP a great possible starting option to get into now while the price is still in the single dollar digits!

3. Hedera (HBAR): HBAR is another potential option for those looking to enter the crypto market this year. It has gone from the $0.04 range at the beginning of November 2024 up to $0.29 at the time of this writing. This token is one that definitely appears to be in an upwards trend over the last few months and it is still priced under the one dollar range. While it has experienced some large swings in both directions, it has remained in an upwards direction recently, which makes it a great potential starting investment option for beginners!

4. Stellar (XLM): XLM is considered technically as a competitor to XRP, and because of this, their price trends tend to be very close in relation. Both of these cryptocurrencies aim to change the way that money is moved across countries, which is a growing area of interest right now. That has caused a huge increase in the XLM price over the last few months, the same way seen in the XRP pricing. XLM was priced at $0.09 in early November 2024 and as of the writing of this article, it is currently priced at $0.43 per token. This makes it very attractive currently since it is still under the one dollar price tag and with it’s potential to go much higher, it can be a great time to get in while it’s priced so low!

These are four cryptocurrencies that could potentially bring beginning investors some substantial gains in the long or short run! There is one token that is making a lot of noise and may seem like a good potential draw but it is not on this list for good reason, and that token is Dogecoin (DOGE). While the chart on this token has been trending upwards, this is definitely one that can be a lot more risky for investors. This is especially true since it seems to be heavily tied to the incoming Presidential regime, and there is a lot of volatility and uncertainty going around.

For this reason, the high and low hard drops are too risky in the opinion of this writer to warrant investing for beginners, based on the more solid and less roller coaster action the other tokens on this list have experienced recently. As with all investments, please do your own research and never invest more than you can afford to lose. Investing in cryptocurrency can potentially be a huge money gain or result in big losses, be aware of the market happenings and watch the charts. Also, try to avoid reacting based on emotions. When tokens are dropping, be sure to pay attention if it is just certain tokens or all of them. Be aware of the market and don’t sell or buy before you have done your research. Good luck and happy investing!

(The information in this article is not financial advice, and you should not consider it to be financial advice. The information contained in this article is for informational purposes only. The information does not and should not be considered as an offer to buy or sell cryptocurrencies. The information should not be relied upon by any person to make any decision regarding cryptocurrency investment. This is just an opinion piece based on the writer's experience and should be taken as that.)

Originally published on Medium.com - https://medium.com/@lunaverity80/is-crypto-the-way-to-go-xrp-shib-and-others-to-start-with-for-beginners-b4a6ad723889

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