cryptocurrency best crypto to trade

More people than ever are involved in the cryptocurrency market, whether that be from a short-term or long-term investment perspective. However, crypto trading has also emerged as a viable avenue to explore, offering those with a higher risk tolerance an exciting way to generate regular returns.

This guide explores the best cryptocurrency to trade in 2022, covering which projects have the cleanest price action and highest returns potential before presenting a detailed walkthrough on how to trade a leading crypto coin today.

The 10 Best Cryptocurrencies to Trade in 2022

Below are 10 of the best altcoins to buy for those interested in trading actively. We’ll explore each of these altcoins in the following section, covering why they are so appealing to traders. 

  1. Tamadoge (TAMA) Best Overall Cryptocurrency to Trade in 2022
  2. Battle Infinity (IBAT)Exciting New Platform with NFTs and Fantasy Sports
  3. Lucky Block (LBLOCK)Best Crypto to Trade in the Blockchain-Gaming Niche
  4. Dogecoin (DOGE) – Well Known Meme Coin with Huge Community Backing
  5. Solana (SOL) – Exciting Blockchain Project Ideal for Day Trading
  6. Bitcoin (BTC) – Leading Crypto Coin with Enormous Liquidity
  7. Uniswap (UNI) – Best Cryptocurrency to Day Trade in the DeFi Sector
  8. ApeCoin (APE) – Top ‘Meme Coin’ with Clear Price Structure
  9. Ethereum (ETH) – Ideal Crypto for Beginner Day Traders
  10. Shiba Inu (SHIB) – Best Crypto to Day Trade with Aggressive Price Action

An In-Depth Look at the Best Cryptos to Day Trade

Trading new crypto projects can be a lucrative endeavour, yet this approach requires a high level of risk tolerance. This is because new cryptos can often be highly volatile since they’re often still ‘finding their feet’ in the market.

However, the ten projects mentioned above are ideal for day traders, as they are easily accessible and offer huge returns potential. With that in mind, let’s dive in and explore these projects in more detail:

1. Tamadoge (TAMA) – Best Overall Cryptocurrency to Trade in 2022

Tamadoge logo Leading the way when it comes to the best cryptos to day trade in 2022is Tamadoge (TAMA), an exciting new meme coin that promises real utility for holders. Tamadoge positions itself as a mash-up of ‘Tamagotchi’ and ‘Doge’, allowing it to appeal to a wide range of retail traders. Not only is Tamadoge shaping up to be one of the best meme coins in crypto, but it also offers use cases that the likes of Dogecoin and Shiba Inu do not.

Tamadoge aims to be one of the best beginner cryptocurrency projects within the meme coin niche, as users can mint ‘Tamadoge pets’ and nurture them into adulthood. These cute 2D characters can then be used in Tamadoge’s PVP battling feature, where the winner will receive ‘Dogepoints’.

Tamadoge

The more Dogepoints a user has, the higher up the leaderboard they will rank. At the end of each month, the user with the most points will receive a prize in the form of TAMA – Tamadoge’s native ERC-20 token. TAMA tokens can then be used to purchase NFTs or held in a crypto wallet to gain exposure to price increases in the future.

Tamadoge’s roadmap also notes several exciting plans, such as physical rewards, Tamadoge-themed arcade games, and an augmented-reality (AR) app. Tamadoge pets will even be integrated into various metaverse platforms in the future – an idea that has created tremendous buzz in the project’s official Telegram group and rapidly growing social media following.

Tamadoge Beta sale

At the time of writing, Tamadoge’s Beta sale phase is still ongoing, which has been KYC-verified by CoinSniper. This phase allows early investors to obtain TAMA tokens at a discount, although the development team already have an LBank listing lined up for once the presale phase ends. Once this occurs, TAMA could become an exciting crypto for day traders to consider.

2. Battle Infinity (IBAT) – Exciting New Platform with NFTs and Fantasy Sports

Battle Infinity logoAnother exciting new project that could return big gains is Battle Infinity. This brand new metaverse project has made headlines recently after selling out its presale allocation 66 days earlier than expected. A remarkable 16,500 BNB was raised, which equates to over $5 million at the time of writing.

Put simply, Battle Infinity aims to be one of the best new cryptocurrency projects that allow users to earn tokenized rewards through skilled gameplay. This is primarily achieved through the ‘IBAT Premier League’ – Battle Infinity’s native fantasy sports league. Not only is this league entirely decentralized, but each of the sports players within are structured as NFTs.

Battle Infinity

This approach means that players can be easily traded on the secondary market, allowing users to benefit from value increases that result from real-world performances. Battle Infinity users can also earn rewards (denominated in IBAT) through generating points as a result of solid team building. The first sport featured in the IBAT Premier League is cricket, although the team has plans to add more in the future.

Aside from the IBAT Premier League, Battle Infinity’s ecosystem also contains a DeFi token swapping mechanism, a crypto staking service, a play-to-earn (P2E) gaming store, and even an NFT marketplace. All of these features tie into the ‘Battle Arena’, which is Battle Infinity’s rich 3D world where users can explore and interact with others.

Battle Infinity metaverse

Although Battle Infinity’s presale has sold out, IBAT will soon be able to trade through PancakeSwap and LBank – two of the best altcoin exchanges for new token listings. Due to its exciting features, many expect the IBAT token to surge upon launch, making it ideal for day traders. Those looking to learn more about the project can do so through the official Telegram group.

3. Lucky Block (LBLOCK) – Best Crypto to Trade in the Blockchain-Gaming Niche

LBLOCK logoOne of the best cryptocurrencies to day trade in the blockchain-gaming niche is Lucky Block. Lucky Block is a crypto project that operates within the blockchain-gaming niche, offering regular decentralized prize draws. Lucky Block’s team recently launched an innovative ‘NFT competitions’ platform that has generated buzz on social media.

On this platform, users can buy NFTs, which act as ‘entry tickets’ to prize draws. There are several collections that users can purchase these NFTs from, each linking to the end prize. For example, the platform already has a luxury house, a 5* holiday, and even $1m worth of BTC up for grabs.

Lucky Block platform

However, Lucky Block (LBLOCK) has also emerged as one of the best low-cap crypto gems for traders to consider since launching on LBank and MEXC earlier this year. Now that LBLOCK v2 has fully launched, traders can open and close positions freely without paying any transactional tax.

Since LBLOCK v2 uses the ERC-20 standard, it’s also primed and ready for exciting CEX and DEX listings. Leading DeFi protocol Uniswap recently announced it would offer LBLOCK trading, with several more listings planned for the coming weeks. Traders interested in Lucky Block can keep tabs on the project by joining the official Telegram group.

4. Dogecoin (DOGE) – Well Known Meme Coin with Huge Community Backing

DOGE logoDogecoin remains one of the best cryptos to day trade in 2022, even after the coin’s dramatic fall from grace. As most crypto traders will know, DOGE burst onto the scene in early 2021, with the coin’s price increasing by over 9,000% in just a few months. Since then, the Dogecoin price has gradually fallen and is now 90% below May 2021’s all-time highs.

However, DOGE is still one of the best penny cryptos for active traders, as the token is easily accessible on an abundance of CEXs and DEXs. As an ERC-20 token, DOGE can also be swapped using leading DeFi protocols like Uniswap.

Dogecoin

Another appealing aspect of Dogecoin from a trading perspective is its aggressive price movements. It’s not uncommon for DOGE’s price to rocket over 10% in a single day – but it’s just as likely that price will drop by the same amount the following day. As such, traders with a high risk appetite may find Dogecoin an exciting proposition.

Cryptoassets are highly volatile investment products. Your capital is at risk.

5. Solana (SOL) – Exciting Blockchain Project Ideal for Day Trading

SOL logoSolana is a leading blockchain network that looks to offer a viable alternative to Ethereum. This network features tremendous scalability, resulting in much lower fees compared to other blockchains. As such, Solana has positioned itself as an attractive option for decentralized application (dApp) developers in various niches.

Although it was considered one of the best long-term crypto investments in 2021, Solana’s progress has stalled following unfortunate network outages and cyberattacks. However, many investors still believe Solana is the future, which is why SOL (Solana’s native token) is so readily accessible.

Solana blockchain

SOL isn’t the most volatile coin on our list, making it a better option for those with low risk tolerance. However, there are still plenty of day trading opportunities with Solana since the price chart shows a clear structure regarding support and resistance levels.

Cryptoassets are highly volatile investment products. Your capital is at risk.

6. Bitcoin (BTC) – Leading Crypto Coin with Enormous Liquidity

BTC logoBitcoin needs no introduction, as it remains one of the best cryptocurrencies to day trade, even after the massive increase in new coins. BTC is readily accessible from most (if not all) major crypto exchanges, often with extremely low trading fees due to its high liquidity.

According to CoinMarketCap, over $24 billion worth of BTC changes hands every day, highlighting the popularity of this coin. Due to this volume, there’s rarely any slippage when trading Bitcoin, making it ideal for scalpers.

Bitcoin trading

Traders who are adept at technical analysis will also find BTC relatively easy to trade, as the price tends to respect clear levels of support and resistance. BTC is also known for consolidating in a range, meaning traders who are happy to go long and short can find an abundance of opportunities.

Cryptoassets are highly volatile investment products. Your capital is at risk.

7. Uniswap (UNI) – Best Cryptocurrency to Day Trade in the DeFi Sector

Uniswap logoUniswap is regularly touted as one of the best cryptos to buy right now on Reddit due to its innate link to the DeFi sector. Using Uniswap, crypto investors can easily swap ERC-20 tokens in a decentralized manner while generating a yield through the protocol’s liquidity pools.

UNI is Uniswap’s native token and is mainly used to vote on governance proposals. This approach provides a clear incentive for Uniswap’s users to acquire UNI tokens – which then affects the token’s price.

Uniswap

Due to Uniswap’s popularity, UNI can be traded by partnering with various leading crypto exchanges and brokers. What’s more, UNI’s price has had a resurgence in recent weeks, increasing by over 150% – providing a potential opportunity for traders to get involved in the ongoing bull run.

Cryptoassets are highly volatile investment products. Your capital is at risk.

8. ApeCoin (APE) – Top ‘Meme Coin’ with Clear Price Structure

APE logoApeCoin has emerged among the best TikTok cryptos in recent months since the token is closely connected to the super-popular Bored Ape Yacht Club (BAYC) NFT collection. Due to this, APE generated tremendous traction immediately after launching, prompting substantial price increases.

However, ApeCoin’s community have ensured it can be considered a project in its own right by adding several enticing use cases. These include integration with blockchain-based games (such as Benji Bananas) and metaverse projects – including ‘the Otherside’.

ApeCoin trading

APE can now be traded on numerous CEXs, including Coinbase, Binance, and FTX. As such, the price has become less volatile since these listings, enabling day traders and scalpers to benefit from a clearer price structure. Having said that, APE can still provide notable returns, as the price has been known to increase (or decrease) by over 10% in a 24-hour period.

Cryptoassets are highly volatile investment products. Your capital is at risk.

9. Ethereum (ETH) – Ideal Crypto for Beginner Day Traders

ETH logoBeginners looking for the best cryptocurrency to trade may wish to consider Ethereum. The vast majority of crypto traders will have heard of Ethereum, as it remains the second-largest cryptocurrency in the world by some distance. Due to this, ETH can be easily traded with low fees on various platforms.

Ethereum’s progress has stalled over the past year, mainly due to the network’s rising GAS fees due to the NFT craze. These fees have become so high that dApp developers have begun looking for alternative blockchains – with Solana, Avalanche, and Cardano all picking up traction.

Ethereum trading

However, Ethereum will soon transition to a ‘Proof-of-Stake’ (PoS) consensus mechanism designed to increase scalability. Once this occurs, we could see ETH’s value rise, providing an attractive opportunity for traders.

Cryptoassets are highly volatile investment products. Your capital is at risk.

10. Shiba Inu (SHIB) – Best Crypto to Day Trade with Aggressive Price Action

SHIB logoRounding off our discussion of the best cryptocurrency to trade is Shiba Inu. Shiba Inu was one of the most successful meme coins to capitalize on Dogecoin’s success, as the token’s price soared by over 1,200% in October 2021.

However, like most meme coins, this hype was short-lived, and SHIB’s value fell in the following months. Although Shiba Inu is trading at just $0.000011 at the time of writing, this low price still offers opportunities for day traders and scalpers.

Shiba Inu crypto

SHIB is known for its aggressive price movements – sometimes increasing or decreasing by over 20% in a single day. Although this may deter risk-averse traders, those with a high risk appetite will undoubtedly find Shiba Inu a fascinating prospect.

Cryptoassets are highly volatile investment products. Your capital is at risk.

What is Cryptocurrency Trading?

Crypto trading refers to the process of buying and selling cryptocurrencies with a short-term investment horizon. Often, crypto traders will open and close a position on the same day – or even after just a few hours. As such, these traders are looking for small and regular returns rather than huge returns.

Crypto traders are often happy to go ‘long’ and ‘short’, which can be helpful in the inherently volatile crypto market. Like with any investment, traders seek exposure to an asset’s price movements, which a myriad of factors can influence.

crypto trading

Due to the short-term nature of this approach, crypto trading tends to be riskier than investing over the long term. This aspect is even more exacerbated in the crypto market – especially with newly launched coins.

However, crypto trading can also be highly lucrative for those who are adept at it. Many of the coins discussed earlier have been known to surge by 10% (or more) in a single day, making them ideal for day traders. Given that these opportunities occur regularly, it’s clear to see how effective crypto traders can make market-beating returns.

The Difference Between Crypto Trading & Crypto Investing

But how does crypto trading differ from long-term crypto investing? Initially, most people believe these approaches are one and the same, but this isn’t the case. The key difference to be aware of is that ‘crypto trading’ is a short-term approach, whilst ‘crypto-investing’ is focused on the long term.

As noted above, crypto trades are often opened and closed on the same day, meaning traders must be more ‘active’ in the market. This involves constantly checking the price chart for new information and effectively managing open positions. Although this can be challenging, crypto trading can often be advantageous.

crypto trading strategies

On the other hand, crypto investing is considered a more ‘passive’ approach. Investing usually involves opening a position and letting it run for days, weeks, or even months. Since long-term investors aren’t worried about short-term price fluctuations, this approach is better suited to those with a low risk appetite.

However, as noted by CNN, the crypto market remains relatively unregulated, meaning that regardless of which approach market participants take, there’s still likely to be volatility. As such, many experienced traders will adopt both approaches, meaning they will actively trade but also have a few long-term investments. 

What is Crypto Day Trading

A subset of crypto trading is ‘crypto day trading’. As the name suggests, this approach involves opening and closing a position on the same day. Presented below is an example of a day trade:

  • A trader opts to buy ETH at $1,300 at 9 am
  • Over the following hours, ETH’s price rises to $1,500
  • The trader closes their position at 3 pm
  • The trader makes a return of 15.38% in a matter of hours

This example showcases how lucrative day trading can be, especially considering the abundance of opportunities in the crypto market each and every day. However, to achieve the returns noted above, traders must remain ‘active’ and constantly scour the market for viable openings and opportunities.

Day traders must understand the ins and outs of cryptocurrency and blockchain technology to experience regular success. As such, day trading crypto is better suited for those with the required time for research and analysis. 

Top Crypto Trading Strategies

Finding the best cryptocurrency to trade is just the first part of the equation – traders must also consider which strategy they wish to employ. Detailed below are four of the most popular approaches to consider: 

Day Trading

As mentioned earlier, day trading involves opening and closing a position on the same day – often after just a few hours. Day traders are comfortable going long and short, which is vital in the ever-moving crypto market. Although this approach does require a ‘hands-on’ approach, day trading can be a viable way to make market-beating returns.

Scalping

Scalping is similar to day trading, yet this strategy is focused on an even shorter investment horizon. Specifically, scalpers tend to open and close positions in just a few minutes, aiming to benefit from minuscule price movements.

crypto scalping

Although scalpers aren’t looking for positions that will net them returns of 10% or more, the regularity of their successful trades enables them to make substantial profits every week. However, due to the volatility in the crypto market, scalping is best left to those experienced enough to deal with price fluctuations.   

Dollar-Cost Averaging

Those interested in finding the best crypto to buy during the crash may wish to adopt a ‘dollar-cost averaging’ strategy. Although not a ‘trading’ strategy in the traditional sense, dollar-cost averaging involves investing the same amount of money into a specific cryptocurrency in regular intervals, regardless of its value at the time.

In a way, dollar-cost averaging ‘automates’ the trading process, as factors like the price do not matter. In turn, this helps remove emotions from trading and leads to better decisions over the long term.

‘Buy and Hold’

Finally, another strategy that traders may wish to adopt is a ‘buy and hold’ strategy – often referred to as ‘HODLing’ in the crypto community. This is viewed as an alternative to short-term trading and involves purchasing a cryptocurrency and then holding it for weeks or months.

Like dollar-cost averaging, this strategy helps eradicate emotion from the investment process, as investors aren’t worried about short-term movements. Although this is a good thing, it does mean that buy and hold investors tend to miss out on potentially-lucrative price fluctuations.

When is the Best Time to Trade Cryptocurrencies?

Given the information presented up until this point, readers may wonder whether there is a ‘best time’ to trade cryptocurrencies. Since the cryptocurrency market is open 24/7, it’s challenging to determine which time of day is best for trading, as people around the world will all be active at various points.

However, various reports have noted increased trading volume during US stock market hours. This period ranges from 9am to 4pm EST and tends to be when traders are most active and liquidity is at its highest.

best time to trade crypto

In contrast, liquidity is at its lowest during public holidays and over the weekend. This is because most traders aren’t actively opening and closing positions, leading to higher spreads. As a result, most beginner traders avoid the crypto market over the weekend, as price movements tend to be more erratic.

How to Trade Crypto – Detailed Guide

Before rounding off this crypto trading guide, it’s important to touch on the trading process itself. As mentioned earlier, Battle Infinity is one of our top picks in the market due to its vast price potential and upcoming exchange listings.

The first of these listings is PancakeSwap, scheduled for listing on August 17 at 12pm EST (4pm UTC) . With that in mind, the steps below showcase how to buy IBAT once the token has been listed:

Step 1 – Set Up a Crypto Wallet

The first thing that traders must do is set up a crypto wallet. This is quick and easy to accomplish, although it’s essential to partner with a provider that supports BEP-20 tokens, such as MetaMask or Trust Wallet.MetaMask wallet

Step 2 – Purchase BNB

BNB logoTraders must then purchase some Binance Coin (BNB), which will be used to exchange into IBAT. Binance Coin can be easily obtained through the vast majority of crypto exchanges, including eToro, Binance, and Coinbase.

Cryptoassets are highly volatile investment products. Your capital is at risk.

Step 3 – Link Wallet to PancakeSwap

Head over to PancakeSwap’s homepage and click ‘Connect Wallet’. Choose the relevant wallet provider and follow the instructions to connect the crypto wallet to the PancakeSwap platform.

pancakeswap wallets

Step 4 – Buy IBAT

Go to the ‘Swap’ section of PancakeSwap’s platform and search for ‘IBAT’ in the order box. Make sure the order box is set up to swap BNB into IBAT (the image below showcases an example of what this will look like) and then enter the appropriate investment amount. Double-check that everything is correct and confirm the transaction.

IBAT trading PancakeSwap

Step 5 – Import IBAT Contract Address

After the swap, the IBAT tokens may not immediately be available in the connected crypto wallet. To ensure they are accessible, opt to import a new token on the wallet’s settings menu and enter the following contract address:

  • 0x19cd9b8e42d4ef62c3ea124110d5cfd283ceac43

Confirm the import, and the IBAT tokens should now be available through the crypto wallet.

Best Cryptocurrency to Trade – Conclusion

In conclusion, this guide has presented an in-depth overview of the best cryptocurrency to trade, highlighting ten coins that are ideally suited to active investors.

Tamadoge tops our list as an exciting new meme coin with utility that has been gaining huge attention and hype during its presale.

Battle Infinity is another top pick after the project wrapped up a successful presale phase which saw over $5 million raised in just 24 days. With PancakeSwap and LBank listings set for the coming weeks, traders will soon be able to speculate on (and benefit from) IBAT’s price movements.

tamadoge presale

 

Battle Infinity logo

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Alan Draper

Alan is an expert on crypto and finance who serves as the chief crypto editor for AugustaFreePress.

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