Best Crypto to Trade Right Now 2023

Cryptocurrency has emerged as a viable alternative to ‘traditional’ asset classes, whether that be short-term or long-term investing. However, crypto also appeals from a day trading perspective, offering traders a pathway to regular profits that often far exceed what can be achieved with other financial instruments.

With that in mind, this guide discusses the best cryptocurrency to trade in 2023, covering coins suitable for day traders, before presenting an easy-to-follow walkthrough on how to begin trading crypto today.

A Closer Look at the Best Cryptocurrencies to Day Trade

The best cryptos to day trade in 2023 offer high liquidity and great returns potential, a must-have combination for short-term investors looking for crypto trading tips.

With that in mind, let’s explore the projects listed above in more detail – many of which may also be the most promising cryptocurrencies over the longer term.

1. Meta Masters Guild (MEMAG) – Best P2E Crypto To Trade Now As it Rushes Through the Presale Stage

Meta Masters Guild (MMG) is breaking new ground in the world of web 3.0 gaming by providing players with the opportunity to earn real money through its entertaining games. A likely listing in the coming months will push $MEMAG’s price higher, providing buyers with an excellent trading opportunity.

Recently, the project entered its second presale phase and has generated a great deal of buyer interest.

Despite the brief duration of the presale, it has already surpassed the $1 million USDT mark. As part of the presale, individuals can buy $MEMAG tokens at a reduced price of $0.01 USDT per token. Moreover, the value of $MEMAG will rise to $0.013 USDT in the next stage.

The Meta Masters Guild (MMG) has implemented an exciting reward system that keeps players invested in the game. It distributes “Gems,” an in-game currency that can be earned through gameplay. These Gems can be then exchanged for the platform’s token, $MEMAG, which can be used to participate in the game’s economy or even converted into real-world money. This unique reward system motivates players to put more time and energy into the game, fueling the platform’s growth in the long term.

MMG has created a user-friendly and easy-to-navigate platform, eliminating the technical difficulties often associated with web 3.0. One of the platform’s standout features is its digital marketplace, which allows players to purchase unique NFTs linked to their digital wallets and can be used in various games on the platform.

MMG is partnering with various game developers to increase its presence in the gaming industry. To achieve this, it promotes the integration of the $MEMAG token into games, creating new financial opportunities and possibilities for players.

Users can refer to MMG’s detailed litepaper to know more about the platform’s features.

$MEMAG Tokenomics

The $MEMAG tokens are based on Ethereum’s ERC-20 token standard. The total supply of tokens is limited to 1 billion, with 350 million available for purchase during the ongoing presale phases.

The tokens can be used for various purposes on MMG’s platform, such as staking, trading digital assets, and acquiring NFTs from the platform’s digital marketplace. Additionally, these tokens can be used to purchase Gems, the in-game currency of the platform, which can be earned through gameplay and used to purchase in-game items. 

To stay informed about the latest developments and updates on MMG, interested buyers can join the platform’s Telegram group.

2. Fight Out – Top Crypto to Trade Right Now Offering Market-leading M2E Rewards

Fight Out is a new-age Move-to-Earn fitness app and gym chain that reward its users by gamifying fitness & lifestyle. The project’s ability to effectively create solutions for gaps in the M2E space could aid Fight Out in becoming one of the best crypto winter tokens.

At the time of writing, Fight Out’s native token $FGHT can be bought at a discounted price of $0.0166 and has already raised more than $3.2 million during its presale.

Traders will be interested in the tokens because by the time the presale ends, FGHT will sell for $0.0333, a 100% increase from the current price before even reaching exchanges.

Furthermore, investors buying the tokens during the first round of the presale can earn up to 50% extra in bonuses – up to 25% can be earned depending on how many tokens are bought and another 50% for choosing to lock periods for up to 24 months.

Fight Out has set a high industry standard through its unique features in the Move-to-Earn space. Users can earn exciting rewards by doing their daily workouts, completing fitness challenges, and so on.

The project has gone a step further to create a metaverse for its users. The users have the ability to make their own NFT avatars. These NFT avatars are known as soulbound avatars. These avatars correspond to the users’ real-life fitness performance. As a result, users can also compete with other community members in Fight Out’s metaverse.

Fight Out has devised its in-app currency known as REPS which is used to reward users for their fitness movements. Users receive these REPS as a reward for achieving their fitness goals and various in-app challenges.

Interestingly, These REPS can be utilized by users to buy exciting products from Fight Out’s marketplace. These products include cosmetic NFTs for avatars, membership discounts, merchandise, and so on.

$FGHT allows users to participate in various tournaments and leagues. Also, the token can be used to unlock game modes and other similar benefits. Importantly, these tokens can be used to buy more REPS. Buyers using $FGHT tokens to buy REPS would get an extra 25% REPS.

To get an even more in-depth understanding of Fight Out’s various features, investors can read the project’s whitepaper.

$FGHT is a limited supply native token of Fight Out token that is built on the Ethereum network. The token supply is limited to 10 billion. Out of these, 9 billion tokens are available for purchase via the project’s presale stages.

Also, investors can buy $FGHT tokens via their credit cards through Transak. 

Investors can join Fight Out’s telegram group to stay on top of such exciting updates.

3. C+Charge (CCHG) – New EV Charging Payments Crypto to Trade to Get Double-Digit Returns

C+Charge has built an innovative EV charging payments app that allows electric vehicle (EV) owners to earn carbon credits rewards while charging, as it hopes to incentive EV ownership.

The platform has raised over 361,000 USDT in just a few days of the launch of its first presale stage as it gathered a sizeable user interest. Its native tokens can be bought at a discounted price of 0.013 USDT per token at the time of writing – traders will be keen to hear CCHG tokens will increase to $0.0235 (80%) by the fourth and final presale stage.

Through its unique solutions, the project allows EV owners to earn carbon credits for charging their electric vehicles. To be eligible for earning these credits, EV drivers need to utilize $CCHG tokens to make payments for charging their vehicles. Then, they can keep the earned carbon credits and the $CCHG tokens in their crypto wallets.

The platform has created an app that allows users to track their carbon credit balances. Further, EV drivers can also receive real-time data pertaining to the waiting times at charging stations, transparent pricing, and so on.

C+Charge’s new-age app also has a geolocation feature installed. This feature enables EV drivers to look for the nearest charging station at their fingertips. To improve their understanding of various features, users can read the project’s whitepaper. 

$CCHG is a BEP-20-based limited supply token built on the Binance Smart Chain. Out of its total supply of 1 billion tokens, 40% of them can be bought via the project’s presale stages.

Interestingly, $CCHG tokens are taken out from C+Charge’s ecosystem whenever EV drivers use them to make payments for charging their EVs. At press time, Crypto enthusiasts can buy $CCHG at a presale price of only 0.013 USDT per token. Buyers can also join C+Charge’s Telegram channel to always stay updated.

4. RobotEra – Buy and Trade NFT Land in a Sandbox Type Game World

According to a DappRadar report, gaming tokens can be amongst the best cryptocurrency investments during a bear market – those holding native coins of blockchain games ‘weathered the storm’ of the 2022 crypto winter better than others.

An emerging token in this space is TARO – the native cryptocurrency of RobotEra’s upcoming metaverse project. Currently available to buy during its first of three presale rounds – TARO is aiming to raise $6.93 million in its presale, and after that hard cap is hit TARO will become tradeable on exchanges.

Popular metaverse gaming projects such as The Sandbox (SAND) increased by more than 1000x since their ICO. With RobotEra, this metaverse project will allow participants to join a virtual ecosystem where they can buy and trade virtual land, create their own spaces and participate in the governance of the world. The RobotEra world can be accessed by purchasing a Robot NFT – which represents a player’s in-game character.

Similar to The Sandbox, players can buy land NFTs within the ecosystem and trade them on the marketplace. RobotEra provides a shared multiverse-like experience – where users can open theme parks, and museums and host events to generate rewards. Users can earn by advertizing on the platform, staking TARO to earn yield and by competing in quests.

RobotEra will also allow token holders to stake TARO to join its DAO. This will give voting and decision-making rights to participants to decide on the future of the organization. According to the RobotEra whitepaper, 15% of the available 1.8 billion token supply of TARO has been allocated for the presale.

90 million tokens will be allocated for each of the three rounds. Currently, the first presale round is allocating TARO at $0.02. However, the price will increase to $0.032 for the final round – a 60% price jump. Therefore investors can buy TARO at the lowest possible price right now and easily trade it at a profit when it is listed on exchanges.

Join the Telegram group to stay updated with the RobotEra project.

5. Calvaria – P2E Card Battle Crypto to Trade Offering Exciting P2E Rewards

Calvaria: Battles of Eternity is a dynamic card game that immerses players in a captivating gaming experience. The game’s one-of-a-kind P2E rewards system offers dynamic and engaging gameplay and the chance to earn real-world rewards. Each card in the game is assigned a unique character to make the gaming experience more engaging.

Calvaria has seen great success in its fundraising efforts, surpassing the $2.9 million USDT mark. The platform is currently in the fifth stage of its presale and has already sold 95% of its target presale amount. Currently, $RIA tokens are available at a discounted price of $0.032 USDT, making it a highly lucrative buying opportunity for users.

Players can experience the thrill of gaming and earning extra income with Calvaria. The P2E rewards system allows players to earn real-world rewards while fully controlling their in-game assets. With a variety of game modes and tournaments, players can enjoy a diverse gaming experience and dynamic gameplay.

The platform has collaborated with prominent exchanges like KuCoin, Gate, and XT.com and is actively working to secure further listings on other exchanges.

$RIA Tokenomics

The $RIA token is Calvaria’s native token and uses Ethereum’s blockchain. Through $RIA, users can gain access to the project’s DAO. Also, buyers can earn additional returns through staking $RIA. As per the platform’s whitepaper, $RIA’s total supply is capped at 1 billion. Of these tokens, only 15% are available for purchase during the presale stages.

Investors can enter Calvaria’s Telegram channel to get the latest updates.

6. Lucky Block (LBLOCK) – Emerging Crypto To Trade to Receive Prizes

Another frontrunner when it comes to the best cryptocurrency to trade is Lucky Block. Lucky Block is a crypto-gaming platform offering regular competitions and exciting prizes. Lucky Block’s team recently launched a brand new NFT competition platform, boosting prize potential even further.

Investors who buy Lucky Block NFTs will be given a chance to win exciting prizes, including games consoles, luxury watches, and even houses. In addition to the NFT aspect, Lucky Block’s native token, LBLOCK, has also emerged as one of the best cryptocurrencies to trade, thanks to its price potential.

Lucky Block’s team has just released the long-awaited ‘LBLOCK v2’ token, which uses the ERC-20 standard rather than the BEP-20 standard. This means LBLOCK is now compatible with major CEXs, ensuring the token can be purchased easily by traders. Listings on CEXs have already begun, with leading platforms like LBank and MEXC now offering LBLOCK trading.

Furthermore, since LBLOCK v2 no longer features the transactional tax built into LBLOCK v1, the token has become appealing to active traders and scalpers, as they’re able to retain a more significant portion of any accumulated profits.

Given that LBLOCK’s price surged over 250% after listing on MEXC, investors may wish to buy Lucky Block to gain exposure to further price movements.

7. Dash 2 Trade – Popular Upcoming Crypto to Trade with 0% Tax

D2T is an ERC-20 token that doesn’t carry any sales tax and Dash 2 Trade has been designed to offer its users – traders and investors – a wide range of tools and insights to help them become more profitable.

Traders are able to access professional grade technical indicators, automated trading APIs, a backtester and even trading competitions to help them.

Moreover, Dash 2 Trade Tokens have secured a listing on Gate.io, one of the prominent crypto exchanges. When traders buy D2T tokens, they receive access to the Dash 2 Trade platform through a monthly subscription.

Dash 2 Trade support traders by providing tools such as strategy builder and backtester, trading signals and other features.

These tools work hand-in-hand to help traders discover the most profitable strategy and test it out. Traders can also incorporate technical indicators and auto trading API, as provided by the platform. The risk profiler feature helps aids traders with better decision making and on-chain analytics help traders study wallets.

Traders can also access social features such as members-only groups to discuss insights, trading competitions, copy trading features and a Learn to Earn academy that will help teach advanced trading techniques.

Users will also be kept informed about whale wallet movement, presale launches and coins listed on new exchanges.

Those are usually the times when coins are the cheapest and the Dash Score – a bespoke presale scoring system that is set for Beta testing on January 4 –  scores crypto presales out of 100 to rank the best projects.

The Dash 2 Trade whitepaper states that traders can select the starter subscription, which costs 400 D2T.

The premium subscription enables traders to benefit from all the features such as entering trading competitions, whale wallet alerts and professional market indicators.

Traders can also receive information via the Dash 2 Trade Telegram channel.

8. IMPT – Popular Crypto to Trade Offering Carbon Credits for Shopping

One of the key aspects that makes IMPT an ideal crypto to trade is that it’s currently trading for a low price amid the crypto bear market.

After enjoying one of the best presales of 2022, IMPT has launched in tough market conditions but experts believe the token is set for a breakout 2023 when market conditions improve given the strong utility of the project – which is seeking to help fight the climate crisis. The IMPT tokens have already been listed on top exchanges like LBank, Gate.io, Uniswap, and Bitmart.

Traders can convert their IMPT tokens to carbon credits or burn them to offset their carbon footprint. Otherwise, the carbon credits are minted into NFTs, and traders can keep these assets as investments to sell on the marketplace.

Every time traders shop at one of the retail brands IMPT has partnered with they receive IMPT tokens, with the project already securing affiliate deals with thousands of major deals including Nike, Amazon and Samsung.

The other way to benefit from these partners is by using the IMPT app to shop and then accumulate a sales margin for all purchases.

But traders can also track their own carbon footprint. The platform offers a social feature that tracks each user’s impact on the environment. Points are granted to contributors positively impacting the environment. The same applies to businesses.

The IMPT whitepaper contains detailed information about this project’s offerings, utility and benefits

Otherwise, traders can get the latest price action and other updates by subscribing to the IMPT Telegram channel.

9. Tamadoge (TAMA) – Popular Meme Crypto to Trade

Our next pick for the best upcoming crypto to day trade in 2023 is Tamadoge.

As the name suggests, Tamadoge takes inspiration from the popular ‘Doge-based’ cryptocurrencies that formed the meme coin craze, such as Shiba Inu and Dogecoin. However, Tamadoge looks to better these coins by offering various exciting use cases into the equation.

Firstly, Tamadoge looks set to become one of the best new play-to-earn games since users can mint ‘Tamadoge pets’ and battle them against others. Each pet has its own set of attributes and strengths, which help inform whether they win battles or not. Dogepoints are distributed to winners, and those with the most Dogepoints at the end of each month will receive a reward.

Rewards are distributed in TAMA, which is Tamadoge’s native ERC-20 token. TAMA tokens have various use cases, such as being the Tamadoge ecosystem’s transactional currency. Users can buy food and accessories for their Tamadoge pet – and can even purchase additional pets if they wish.

Tamadoge’s team has numerous exciting plans noted in the roadmap – including a dedicated augmented reality (AR) mobile app. These developments may help the token gain momentum in the long-term as well.

Notably, TAMA aims to be a deflationary token. 5% of all coin spent on the ecosystem will be burnt. This will help increase the demand against the supply in the long run.

After raising $19 million during presale, TAMA was listed on OKX exchange and has since remained in the top 10 of meme coins by trading volume.

TAMA reached an all-time high of $0.19 per token but has since retraced because of wider market conditions.

However, with the main game set for release in 2023 – as well as other arcade-style mini-games and an augmented reality app – another pump is expected in the coming months.

10. Battle Infinity (IBAT) – New Cryptocurrency to Trade And Receive P2E Rewards

Battle Infinity is a new metaverse project that looks to combine various exciting crypto-related areas, such as NFTs, DeFi, and play-to-earn (P2E) mechanics. All of these areas are featured in Battle Infinity’s 3D world, called the ‘Battle Arena’, where players can create avatars and interact with others.

One of Battle Infinity’s most promising features is the ‘IBAT Premier League’ – a decentralized fantasy sports league with NFT integration. Players can create teams and battle other teams, scoring points based on the real-world performance of their players. Those with the most points will climb the league table and earn rewards.

These rewards are distributed in IBAT, Battle Infinity’s native BEP-20 token. This token can also be used in the platform’s handy crypto staking feature and the ‘Battle Swap’ token swapping mechanism. Users can even spend IBAT in the ‘Battle Store’ to purchase in-game items and plots of virtual land – both of which are structured as NFTs.

Battle Infinity’s platform is still in development at the time of writing, although traders can get their hands on IBAT tokens on PancakeSwap. The IBAT presale was one of the fastest crypto presales to sell out – lasting just 24 days.

Then at IDO on PancakeSwap IBAT pumped 450% from its listing price (and 700% when measured from its presale price).

Overall, the hype around this exciting project is undoubtedly building, which is why the Battle Infinity Telegram group has exploded in popularity in recent weeks.

Similar to Tamadoge, the project is KYC-verified by CoinSniper and audited by SolidProof.io, so investors can rest assured that there is high credibility surrounding Battle Infinity – as backed up by its performance on launch.

The latest Battle Infinity news is that its first CEX listing is ‘coming soon’ – on LBank exchange. That new crypto exchange listing will make it even easier to trade IBAT and bring in a higher trading volume.

11. Bitcoin (BTC) – World’s Largest Cryptocurrency Boasting Huge Liquidity

Bitcoin remains the world’s largest cryptocurrency, according to CoinMarketCap, boasting a market cap of over $437 billion. Much of Bitcoin’s success has come from its ‘first mover’ status, having launched the cryptocurrency revolution back in 2009. Although the BTC price has taken a hit in 2022, this crypto remains one of the best options for day traders.

The reason many consider Bitcoin to be the best cryptocurrency to trade is the fact it is so widely adopted. Not only do merchants worldwide now accept BTC as a payment method, but many investment firms now offer financial products that provide exposure to Bitcoin’s price.

Furthermore, Bitcoin regularly showcases over $26 billion in daily trading volume, making it the most traded crypto worldwide. This also means that many of the best crypto exchanges offer low spreads on BTC trading, ensuring it remains appealing to day traders and scalpers.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

12. Cardano (ADA) – Appealing Crypto for Day Traders and Scalpers

Cardano has been touted by many as the best cryptocurrency on the market, as the platform seeks to rival the likes of Ethereum in the blockchain sector. Cardano is a blockchain network developed by Charles Hoskinson, one of Ethereum’s co-founders. The network features smart contract functionality, making it ideal for dApp developers.

Cardano also uses a ‘Proof-of-Stake’ (PoS) mechanism to achieve consensus, making it much less energy intensive than Bitcoin and Ethereum. This mechanism also allows network users to stake their ADA tokens and generate a yield of over 4% per year.

ADA is also great from a trading perspective, as it remains one of the top ten most traded cryptos worldwide. Furthermore, ADA’s price movements can often be less volatile than smaller cryptos, making the token ideal for day traders and scalpers.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

13. Dogecoin (DOGE) – Popular ‘Meme Coin’ Trading at a Discount

Dogecoin remains one of the best meme coins on the market, even after its dramatic fall from grace since May 2021. However, even though DOGE is trading over 90% below all-time highs at the time of writing, the coin remains a favorite of crypto traders due to its return potential.

Dogecoin’s low price relative to what it once was makes it great for short-term moves. For example, it’s not uncommon for the DOGE price to surge by over 10% in one trading day before completely retracing the following day. Although this volatility may put off some traders, those with a higher risk tolerance can often find abundant trading opportunities.

DOGE is also considered by many to be the best crypto to buy on Reddit due to the coin’s colossal community backing. The Dogecoin subreddit (r/dogecoin) still has over 2.3 million members, whilst the official Twitter account boasts 3.4 million followers – meaning this coin remains extremely popular amongst retail traders.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

14. Ripple (XRP) – Best Cryptocurrency to Trade for a Potential Rebound

Although considered one of the best long-term crypto investments, XRP is also an excellent option for traders with a short-term investment horizon. For those unaware, Ripple is a blockchain-based payments protocol that allows people to send money worldwide with low fees.

Ripple’s average transaction time is just five seconds, making this protocol much more attractive than the traditional SWIFT mechanism. In addition, since transactions cost just 0.00001 XRP, overseas money transfers are much more cost-effective when using Ripple.

Due to Ripple’s popularity and stability, XRP has become a popular token amongst traders because it has the potential to become one of the most sustainable cryptos on the market. However, Ripple still has an ongoing battle with the SEC, which has caused volatility in recent years. If the outcome of this battle is positive for Ripple, it could provide some exciting trading opportunities for short-term investors.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

15. Binance Coin (BNB) – Great Token to Trade with Low Volatility

As the name suggests, Binance Coin is the utility token of Binance – the world’s largest cryptocurrency exchange, according to CoinMarketCap. Since BNB is inextricably linked to Binance, the coin’s price movements tend to be influenced by the platform’s growth.

BNB has several use cases, such as trading fee discounts and access to token sales on the Binance Launch Pad. The token is also used within the Binance Smart Chain (BSC) for tasks such as minting NFTs and creating dApps.

Due to BNB’s massive liquidity, the token is perfect for crypto traders. Furthermore, BNB tends to exhibit low volatility relative to other cryptocurrencies. As such, many traders opt to day trade or scalp BNB, as it’s rare that the token’s price will move erratically.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

16. Ethereum (ETH) – Best Cryptocurrency to Trade for Clear Price Action

Ethereum needs no introduction, as it has solidified itself as one of the best altcoins on the market over the past few years. The Ethereum blockchain made a name for itself due to its smart contract functionality, yet its native token, ETH, is also appealing from a trading perspective.

Since ETH is used to pay network (GAS) fees, the token remains in high demand throughout the year. This demand plays a massive role in ETH’s price movements, as the more ‘active’ the network is, the more bullish momentum the token seems to experience.

Many traders looking to make money with cryptocurrency will also gravitate towards Ethereum due to the well-defined price action it offers. A glance at the ETH/USD price chart will clearly showcase strong support and resistance levels, which can act as entry points for traders. Combine this with Ethereum’s high liquidity, and it’s clear why this token is so favored.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

17. Chainlink (LINK) – Leading Utility Token with Exciting Future

Concluding our list of the best cryptos to day trade in 2023 is Chainlink. Chainlink is a ‘decentralized oracle network’ which provides real-world data to decentralized applications (dApps). Since these dApps cannot receive data from centralized sources, Chainlink allows them to operate while remaining decentralized.

Data is aggregated from numerous ‘oracles’ on the Chainlink network, ensuring that the dApp receives accurate information. The recipient of the information rewards the provider with LINK tokens, providing an incentive to deliver factual data.

LINK can also be traded on most of the top crypto exchanges, with the token’s price surging to an all-time high of $52.66 back in May 2021. Although LINK is trading around 86% lower than this high at the time of writing, the token’s valuable utility has caused many analysts to believe it is trading at a significant discount.

Your capital is at risk. Crypto asset investments are highly volatile and speculative. 

Crypto Trading Explained

So, what is crypto trading? In essence, crypto trading is the process of buying and selling cryptocurrencies over a short timeframe. For example, an investor may buy Bitcoin in the morning and then sell it a few hours later in the afternoon – that’s an example of crypto trading.

Like long-term investing, crypto traders are speculating on the price of an asset, either by going ‘long’ or going ‘short’. However, since investment timeframes are usually measured in hours (or even minutes) when crypto trading, this approach tends to focus on smaller price movements.

The main benefit of crypto trading, as compared to other strategies, is that traders can make profits in a very short amount of time. Buying one of the most undervalued cryptos just before a bullish surge, then selling immediately after, has been known to net crypto traders double-digit profits in just a few hours.

However, although the best cryptocurrencies to day trade can provide market-beating returns, it’s also essential to remember that this strategy is deemed riskier than longer-term approaches (e.g. ‘buy and hold’). The crypto market is inherently volatile, so trading these coins short-term requires a high-risk tolerance.  

Crypto Trading vs Crypto Investing

When researching the best cryptocurrency to day trade, it’s vital to understand the differences between ‘crypto trading’ and ‘crypto investing’. Many people believe that both terms refer to the same approach – but this isn’t the case.

As noted above, crypto trading refers to the process of speculating on a coin’s price movements over a short-term investment horizon. There is no upper limit for this horizon, although positions can often be opened and closed on the same day. Although this approach is riskier, it can result in market-beating returns if done correctly.

On the other hand, crypto investing has a more long-term approach – similar to the well-known ‘Buy and Hold’ strategy. Those who invest in cryptocurrency with a longer investment horizon can ride out periods of volatility, meaning that emotions don’t play as big a role as they do with trading. Crypto investors also don’t need to ‘time the market’, as the exact entry point isn’t crucial.

So, which approach is better? There is no definitive answer here, as each approach will appeal to a specific demographic. Trading is considered riskier and requires a more ‘ hands-on’ approach, which can be challenging for people will full-time jobs. However, as mentioned earlier, effective traders can often make double-digit daily returns if they open well-researched positions. 

Crypto Day Trading

Crypto day trading is a subset of crypto trading and involves opening and closing a position on the same day. Here’s an example of how this would work:

• A trader buys BTC at $21,000 in the morning
• A few hours later, BTC’s price surges to $23,000
• The trader opts to close out their BTC trade in the afternoon
• The trader makes a return of 9.52% in just a few hours

The example above highlights how lucrative day trading can be, especially if positions are well-researched and appropriate risk management is employed. However, day trading is a very ‘active’ approach, as traders must constantly monitor the price charts for entry points.

Thus, day trading is more appropriate for traders who can be ‘hands-on’ throughout the day, as the entry point is essential, each trade’s exit point is arguably even more important. Nevertheless, since day trading involves small price movements, there’s often an abundance of opportunities each day for this strategy. 

Crypto Trading Strategies

Market participants can employ plenty of trading strategies, many of which have been tried and tested with ‘traditional’ asset classes. Presented below are four of the most popular strategies:

Day Trading

As discussed above, day trading is the process of opening and closing a trade on the same day. This strategy focuses on regularly generating small returns, meaning trading balances can compound quickly. Although a relatively risky approach, day trading can be highly profitable for those adept at it.

Scalping

Scalping is a subset of day trading, yet it takes this approach one step further. Instead of focusing on hours, scalpers tend to have investment horizons of just minutes – or even seconds.

Since scalpers only look to generate returns of around 1% on each trade, entry points and exit points are crucial to this strategy. As such, many crypto signals Telegram groups will provide real-time alerts when a trade opportunity has been identified, meaning scalpers don’t have to be at the charts all day.

Dollar-Cost Averaging

As noted by Forbes, dollar-cost averaging is a trading strategy that allows investors to lower the amount they pay for investments and minimize risk. This strategy involves investing the same amount of money into a particular crypto at regular intervals – regardless of its price.

This approach helps remove the emotions associated with trading, as investments are made when the price is both low and high. Over time, the hope is that an investor’s average entry point is lowered, providing a foundation for future gains.

‘Buy and Hold’

Finally, traders may opt to ‘Buy and Hold’ if they wish to employ a long-term approach. Although not considered a ‘trading’ strategy per se, the decision to buy and hold makes the process entirely passive, as no position management is required.

Buy and hold investors are not concerned about short-term price movements, as they often hold for months or even years. Although this strategy often misses potentially lucrative openings, it is ideal for investors who cannot be active and wish to let their investments run. 

What is the Best Time to Trade Cryptocurrencies?

Is there a ‘best’ time to trade cryptocurrencies? This is a challenging question to answer since the crypto market is open 24/7. However, there are a few factors to consider when choosing when to place cryptocurrency trades.

According to Statista, daily crypto trading volume peaked on May 20^th 2021, when the market surged to a $516 billion valuation. When the market is this active, liquidity is extremely high, which reduces the chance of slippage and allows an order to be executed instantly. Based on these factors, opening positions when the volume is elevated can benefit traders.

Those wondering how to trade cryptocurrency may also wish to open positions during US stock market hours, between 9.30 am and 4.00 pm EST. Again, this is when most traders are ‘active’ in the markets, which helps boost liquidity.

On the other hand, many traders opt to avoid the markets over the weekend. Institutional traders aren’t active on Saturdays and Sundays, meaning volume is low – leading to higher spreads from many of the best altcoin exchanges. In addition, price movements over the weekend often conflict with the overarching analysis of specific crypto, which may lead to avoidable losses.

Best Cryptocurrency to Trade – Conclusion

To conclude, this guide has conducted a deep dive into the best cryptocurrency to trade in 2023, discussing coins best suited for day traders before exploring several top trading strategies. Meta Masters Guild has had an explosive presale so far, already gaining investor traction and raising over $1 million USDT.

Given its one-of-a-kind gaming platform empowering users to earn while playing fun-filled mobile-centric games, investors should consider buying the $MEMAG tokens while they still have a chance. At the time of writing, buyers can grab the tokens at a discounted rate of only $0.01 USDT per token. 

Meta Masters Guild - Next Big Crypto Game

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FAQs

What cryptocurrency is best to trade?

One of our top picks is Meta Masters Guild. The project has already lined up three mobile-focused games that provide an opportunity to make real money. Once the token goes live on exchanges in the future, this will provide plenty of trading opportunities to investors.

What are some alternatives to day trading?

Some of the cryptos we reviewed in this guide are currently on presale – the buy and hold strategy is the main alternative to trading, and presales or ICOs offer the lowest price point to buy a new asset at, with the most upside potential. That approach often outperforms trying to time the markets.

What are the average trading fees on crypto exchanges?

Generally, crypto exchanges attempt to compete with Binance on their 0.1 percent maker/taker fee, applied to each buy and sell order. Bybit also has the same 0.1 percent fee for spot trading. Coinbase has higher fees unless traders have a high trading volume.

  This article was written for Business 2 Community by Connor Brooke.
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Author: Connor Brooke

Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has …

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