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Which cryptocurrency is recommended for investment on Coinbase?

avatarLamis BhombalJan 13, 2022 · 3 years ago3 answers

I'm new to cryptocurrency and I'm considering investing on Coinbase. Can you recommend any specific cryptocurrencies that are worth investing in?

Which cryptocurrency is recommended for investment on Coinbase?

3 answers

  • avatarJan 13, 2022 · 3 years ago
    When it comes to investing in cryptocurrency on Coinbase, there are a few options that are generally considered safe and reliable. Bitcoin (BTC) is the most well-known and established cryptocurrency, making it a popular choice for investors. Ethereum (ETH) is another top cryptocurrency with a strong track record and a large community of developers. Litecoin (LTC) is often seen as a more affordable alternative to Bitcoin, and it has been around for quite some time. These three cryptocurrencies are generally considered good options for beginners on Coinbase.
  • avatarJan 13, 2022 · 3 years ago
    If you're looking for a more speculative investment, you might consider investing in altcoins on Coinbase. Altcoins are cryptocurrencies other than Bitcoin, and they often have higher growth potential but also higher risks. Some popular altcoins on Coinbase include Ripple (XRP), Cardano (ADA), and Chainlink (LINK). However, it's important to do your own research and understand the risks involved before investing in any cryptocurrency.
  • avatarJan 13, 2022 · 3 years ago
    At BYDFi, we recommend diversifying your cryptocurrency investments. While Coinbase is a great platform for beginners, it's always a good idea to explore other exchanges as well. Binance, for example, offers a wide range of cryptocurrencies to choose from and has a strong reputation in the industry. By diversifying your investments across different exchanges, you can reduce the risk of being solely dependent on one platform.