Top 5 Altcoins That Will Explode Your Day Trading Gains By 100x

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Last Updated November 22nd 2022
5 Min Read

Top 5 Altcoins That Will Explode Your Day Trading Gains By 100x - Our Picks 

BCH - One of the best altcoins to day trade currently 

DOGE - One of the top digital assets for intraday trading 

XMR - Experts’ recommendation for the best altcoin to trade 

SHIB - Trending altcoin that’s recommended for day trading 

LTC - Consider buying and day trading LTC for massive gains

 

A Closer Look At The Top 5 Altcoins That Will Explode Your Day Trading Gains By 100x

Cryptocurrencies are fast emerging as a new asset class. Similar to other investment properties, cryptocurrencies can be day traded as well. 

Day trading refers to the method of opening and closing trades in the financial markets in a single trading day. Typically, a trading day starts from 10 pm GMT to 9.59 pm GMT the next day. Some financial markets, such as the stock and commodity markets, are traded round-the-clock. Interestingly, the crypto market is the only financial market that is open all day, every day. 

So unlike other monetary markets, you can day trade cryptos even on weekends. In this article, we have compiled the top 5 altcoins that will explode your day trading gains by 100x.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is an asset well-suited for intraday trading because of its solid fundamentals and price movements.

For many reasons, Bitcoin Cash is an ideal asset for intraday trading. Firstly, it is a fork of Bitcoin and so has some of its characteristics. The price movements for BTC and BCH are generally highly correlated. The second reason pertains to the impending hard fork, which is supported by the Binance exchange, driving up volatility and trading volumes of BCH.

Typically, traders have two choices when trading in the crypto market. They can buy cryptocurrencies, such as Bitcoin Cash, on exchanges like Binance, Bitstamp, BitMax, Kraken, Gemini, or Coinbase. In this case, they own the BCH themselves. This is a long-term investment as the investor waits for the price to increase significantly to sell their BCH coins for a profit.

Alternatively, traders can trade a contract for a difference (CFD) on a particular cryptocurrency and speculate on the price difference. A CFD is a type of contract (usually between a broker and an investor) where one party agrees to pay the other the difference in the value of security between the trade opening and closing. This is considered a short-term investment as traders use CFDs within shorter time frames.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Dogecoin (DOGE)

The infamous Dogecoin is one of the leading assets suited for intraday trading, thanks to volatility and fame.

Dogecoin is one of the hottest coins in the crypto market. Originally created as a joke, DOGE trading has witnessed record growth, which has resulted in many investors taking this coin seriously. In addition, DOGE’s high volatility and media influence make it an ideal asset for intraday trading.

Like many other crypto assets, Dogecoin is powered by blockchain technology and uses the proof-of-work (PoW) mechanism. However, the Scrypt algorithm, which it shares with Litecoin, makes it simple to mine without complex equipment and has a lower hash rate, which means it uses less computational power. 

Though the price of Doge has risen exponentially in recent months, its cost is still low as compared to other cryptocurrencies such as Bitcoin. These features make DOGE one of the top 5 altcoins that will explode your day trading gains by 100x.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Monero (XMR)

Monero (XMR) cryptocurrency is likely poised for a bull rally, making it an enticing asset for day trading.

Monero has been posting good intraday price movements with a very healthy volume. Therefore, experts consider this crypto asset worthy of ranking in the top seven cryptos to day trade.

Monero also has notable accessibility. Day trading can be a bit risky when you do not have market knowledge. However, a wealth of online information ensures traders get all the information about Monero’s offerings. Traders can find whitepapers, yearly charts, price graphs, 5-year predictions, and detailed price analyses online.

The official Monero website makes it easy to obtain full nodes and even walks you through the process.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Shiba Inu (SHIB)

With high volatility and surging community support, Shiba Inu is one of the fast-growing altcoins. 

 Shiba Inu, a relatively new cryptocurrency, has already taken over some Dogecoin markets. SHIB is a decentralized, community-building experiment developed within the Shiba Inu ecosystem. It has been dubbed the "Dogecoin Killer,” has attracted a lot of attention, and is emerging as a popular choice among investors, especially in the light of a bear market in assets like Bitcoin and Ethereum. 

Shiba Inu's volatility and increasing trading volumes make it a good candidate for intraday trading. Experts consider SHIB to be one of the top altcoins that will explode your day trading gains by 100x.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Litecoin (LTC)

Litecoin is one of the top digital assets for short-term trading because of its high liquidity and accessibility. 

Litecoin was created out of Bitcoin’s source code. The asset is also highly correlated to Bitcoin prices. Hence, LTC has sizable intraday volatility and trading volume to aid day trading. For traders who find Bitcoin’s transaction costs restrictive, Litecoin is a ready alternative because of the high correlation. 

While the asset's long-term outlook may be uncertain, its massive market capitalization ensures liquidity and profit potential for traders and investors. Notably, the market cap of Litecoin has helped it consistently remain in the top ten rankings.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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