2022 is not the best year that crypto investors have experienced, and the joys of watching bitcoin skyrocket to $68,000 last year seem like a distant memory. Right now, bitcoin is closing in on its 2022 low, and the total crypto market has seen $1 trillion in value wiped off.
The terms crypto winter and bear market are muttered darkly by investors as exchanges have crashed, and life savings have been lost. However, there is still huge optimism among many many leading crypto experts. There is a strong belief that crypto, and bitcoin, in particular, will not only bounce back but reach new heights and become stronger in the long term.
How high could bitcoin go?
The big question for investors now is whether it is still worth investing in crypto. Many newcomers to crypto have watched as the value of bitcoin rose and decided this was an investment to make. It seemed at some point there would be no stopping bitcoin’s continued rise in value, and other cryptocurrencies such as Ethereum appeared to be enjoying similar fortunes.
Ethereum more than tripled in value during 2021, and reached an all-time high of $4,811. Just six years previously it was trading at under $1. So, what next for eth, bitcoin, and the other major crypto players?
Well, if predictions are to be believed, then it may be time to start looking at getting involved with bitcoin or another crypto. Bitcoin is the major player, and experts have predicted serious growth potential over the next 8 years until 2030.
A potential high of $50,000 is predicted for 2023, with a rise to $100,000 for 2025. But, it is in 2030 when crypto experts are expecting to see something totally new. Not only is there a strong belief that bitcoin may breach the $1 million barrier, but it will go much higher.
If you want to get on the crypto ladder before these potential values are reached, then you will need to open a trading account and find the right platform to use.
What are the best trading apps and platforms for crypto in 2022?
Choosing the right app or platform could help to give you an advantage in your trades and help with improved strategies. Of course, investments carry a certain amount of risk, and crypto has shown just how big the swings can be, both positive and negative.
Here are some of the better-known and more popular exchanges, apps, and trading platforms for crypto today.
This exchange has been operating since 2007 and is trusted and used by millions. eToro allows users to buy, sell, send, and receive a number of different cryptocurrencies including Bitcoin, Bitcoin Cash, Stellar, Litecoin, and Ethereum.
This exchange also lets users trade in stocks and has an innovative social trading feature that is useful for beginners, and more seasoned traders.
Minimum deposits differ by region, and type of account. Residents in the US and UK need only deposit $10 to begin investing. However, bank transfers must be a minimum of $500.
Bitcoin 360 Ai
If you are looking to use technology to help you make better data-driven trading decisions, then you may want to look at some form of automation. Bitcoin 360 Ai allows traders to make manual decisions and buy and sell crypto, but it also scans the market and makes automatic trades.
You can set your preferences and trading rules, and then let the complex algorithms work out which trades are likely to be most profitable. With a boasted accuracy of over 99.4%, it could be the way to make profitable trades in what is a difficult market.
The minimum deposit is set at $250. However, there are no fees, and no charges for withdrawals.
This broker has 15.9 million monthly active users, and more than 22 million funded accounts. It can be used to buy and sell a limited range of cryptocurrencies including bitcoin and dogecoin. It may suit individuals who want to buy and hold their crypto rather than make regular trades, however. For those crypto investors aiming to ride out the storm, Robinhood may be a good choice.
Robinhood gained fame, or infamy, When a Reddit group got together to trade in GameStop stocks causing mayhem on Wall Street, and the platform froze trading.
No minimum deposit is required. Although to use the Robinhood Gold account there is a minimum of a $2,000 deposit required.
A very well-trusted US exchange that is said to be the largest in the world in terms of volumes of trades. It is popular with many traders due to its low fees. There is a 0.1% spot trading fee, and a flat fee of $2.99 per trade. There may also be withdrawal fees to cover transaction costs.
Despite there being nearly 30 million active users of Binance, the platform is not popular everywhere. The UK and Italy have both prohibited Binance from trading within their countries.
The minimum deposit for crypto trading is $10 with a 3.9% fee attached for debit cards.
Like Bitcoin 360 Ai, this platform uses real-time data to analyze and predict which trades should be taken. It supports trading in multiple cryptocurrencies and uses advanced algorithms to make predictions.
There are different pricing plans for TradeStation, and some involve a monthly fee of $99.95. Other accounts require a minimum deposit of $1,000 and there is a yearly inactivity fee of $50. However, there are $0 minimum deposit options available.
Not a trading platform as such, but it could offer an entry-level method of getting into crypto investment in a small way. If you have a PayPal wallet then you can use the app to buy and sell from a small number of cryptocurrencies.
There are limitations on what you can do with your investment, and the bitcoin or Litecoin you buy must stay in your PayPal wallet unless you sell it. However, for those wanting to buy some coins and speculate, this offers one of the simplest ways to start.
Is it safe to invest in crypto now?
With so many crypto experts believing strongly in the potential for future growth, it could be that now is a good time to invest in bitcoin again. After all, 2021 saw many people believe that the ship had truly sailed once the value hit $68,000.
Understanding that bitcoin is limited, and just how many bitcoins are left, should point to the cryptocurrency only rising in the future. As more coins get lost, and mining becomes harder, the value should rise.
Long-term investments in bitcoin might be worth making. But, for those wanting to trade frequently, then finding a secure platform is essential. And for novices, a Robo-trader that uses advanced algorithms could be a safer way to begin.
All of these online exchanges or apps offer something to the crypto investor or trader. For a complete novice, simply using PayPal to invest a little into crypto each month might be the best plan.
For those wanting to get involved in frequent trades then social trading offers something very new and unique, or automated trading can take away the emotional side of making financial decisions.
The key to safe and happy trading though is to be willing to lose some money or to be patient enough to ride out the bad times. Not every trade is going to be a winner.
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