How to Pick Cryptocurrencies to Invest in?

1

CoinMarketCap

The more options you have, the more difficult it becomes to make a good choice. This is an old saying, and it applies to crypto selection as there are 19,626 cryptocurrencies on 526 exchanges with a total market cap of $1.2T, according to CoinMarketCap. You can now see that it is very difficult to pick the best from all the thousands of cryptocurrencies we have.

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2

Bitcoin

The total market cap of a cryptocurrency determines its performance in the market. The higher the total market cap of a cryptocurrency, the higher its chance of it being a good crypto investment. That shows that the coin is being backed by enough funds, which will have a positive effect on its price. For example, the total market cap of Bitcoin is over $500B, which is over 40% of crypto’s market cap of $1.2T. This signifies that Bitcoin has enough money in its ecosystem and more reason why Bitcoin’s performance affects the performance of other cryptocurrencies.

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