The cryptocurrency market is rich in digital assets that have different applications and purposes, so it might be difficult for a beginner investor to pick a good asset to buy. In this article, we will discuss how to pick crypto for investment and discuss the DASH token in particular.
Why do you need to invest in cryptocurrency in 2023?
- Investing in cryptocurrency in 2023 can potentially offer high returns and diversify your investment portfolio.
- Cryptocurrencies are decentralized and not subject to the same market forces as traditional investments, making them less vulnerable to economic downturns.
- Mainstream adoption of cryptocurrencies is increasing, which could lead to a higher demand and increase in value.
- Crypto investment is relatively easy and accessible, with low barriers to entry and the ability to invest from anywhere in the world.
- Cryptocurrencies offer the potential for quick gains due to their volatility, but it’s important to remember that investing in them comes with risks.
- With governments showing more interest in regulating the industry, crypto invesment could offer more stability and legitimacy to the market.
What Crypto to Invest in?
When selecting digital assets for investments, pay attention to the following characteristics:
- Price chart – take a look at how the asset’s price changes over time and how sensitive it is to market fluctuations.
- Trade volume – shows how often the asset is sold and bought daily.
- Market capitalization – indicates the overall value of all coins in circulation at the moment.
Also, consider the following:
- the project’s developers and their background;
- social networks and communication with the community;
- early investors and partners;
- real use cases.
When you find the answer to these questions, you will get a clear picture of the project and its place in the crypto market.
Is it Worth Investing in Dash?
The first name of the project was Xcoin. The asset was built on the Bitcoin code. The Dash project provides anonymous currency transfers and supports fiat assets and such systems as PayPal. You can make daily purchases through the DashDirect app. The DASH system is used by several businesses: CheapAir, Churchs Chicken Venezuela, and the Dash Giftcard Store. DASH is also traded on all popular crypto platforms.
In the early stage of development, the project lived through price jumps – in Dec 2018, the DASH rate reached $1198 with the following drop to $520. As of January 2023, the DASH rate is $52.76, with a market cap of over $585 million.
Looking at the DASh price dynamics, we can say it is really worth investing in it. Read more about this asset on the WhiteBIT blog and trade it on the WhiteBIT exchange.