The market for cryptocurrency has now reached $3, 007, 565, 750, 017.
The digital coin market is just around a decade old and has already make itself times 4 from 2020’s figure. Investors in the market has already gain trust in the established coin, regardless of its volatility. The leading coin include Bitcoin, Ethereum, Binance as they continually upgrade with new functionality.
The currency market trading volume has also increased to $174 million.
Excitement about the possibilities of decentralized finance and non-fungible tokens is growing, and memecoins like Dogecoin and Shiba Inu continue to attract attention.
Bitcoin appears to be pushing out of a bullish flag pattern, and Ether is likely to confirm a long-term breakout on a close above resistance this Friday,
As of today, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
Bitcoin rose as much as 5.6% on Monday to $66,414, nearing its previous record of about $67,000. Ether advanced as much as 3% to a new high of $4,768.
Here are the exchange rates for top cryptocurrencies to dollar.
The cryptocurrencies are bedeviled with high rate of volatility because it is the hottest trend in investment. However, here are some rundown of current rates as at the time of filing this report.
The spotlight will be on the top 10 cryptocurrencies based on their market value today 19 November 2021.
Cryptocurrency list: Dollar USD exchange rate | Market Value
Cryptocurrencies are the digital coin that live on the blockchain. It is a decentralized computer network that records all transactions. The value of crypto is determined by how many people buy it. That is why it does not depend on central authority like traditional currencies depend on banks.
As of March 2021, there are about 9,000 cryptocurrencies in the market. Bitcoin is the first to begin and still remain at the top because it has limited supplies that’s why some view it as a good store of value and an edge against inflation like gold.
Meanwhile, a group of investors who garnered $47m worth of ether just in a week to buy a rare, first-edition copy of the U.S. Constitution at a Sotheby’s auction — and lost, CNBC report says.
The group, known as ConstitutionDAO, wrote in its ‘frequently asked questions’ that the funds would be redeemable, minus a transaction fee.
An as an investor, you need to understand that cryptocurrency is highly volatile. Therefore, you need to time the market more than conventional investments to make good returns.
What is cryptocurrency?
Cryptocurrencies are the digital coin that live on the blockchain. It is a decentralized computer network that records all transactions. The value of crypto is determined by how many people buy it. That is why it does not depend on central authority like traditional currencies depend on banks.
Cryptocurrency is secured by cryptography that ensure and checks that currencies are not spend twice. On the other hand, blockchain technology, which is a distribution of ledger enabled by another network of computers.
Buying and selling cryptocurrency
What is cryptocurrency trading?
As a cryptocurrency trader, you aim is either accumulate Bitcoin or to make a profit in dollars. It is very easy to increase your portfolio in dollars while trading your crypto in the bull market. However, it is not that easy increasing your Bitcoin value.
You can therefore trade your Bitcoin for alternative coins (altcoins) like Coinbase Pro in order to track your Bitcoin value.
However, you are taking risk by buying and selling your cryptocurrency. You may lose as well as gain in the market. Although, it is rare for traders to suddenly lose money because the market is volatile.
By actively trading your cryptocurrency, you risk losing your crypto to the market. Since cryptocurrency prices are so volatile, it’s not uncommon for traders to lose money quickly trading cryptocurrencies. This is why so many crypto enthusiasts just HODL their Bitcoin.
Similar to traditional exchanges, traders will earn gradually has price rises.
How to buy cryptocurrency
Exchanges are out there more than willing to assist traders procure crytocrrency. For beginners, Coinbase will be an option.
Binance, Luno, eToro and many other platform to trade. You will need to make your findings to know which offer lower commission.
Most important factor to look out for in a cryptocurrency exchanges are secure, quick setting up, ease of use, flexibility in funding and overall efficiency.
For each of the exchanges, you will be required to verify your identity after registration.
Account set up
After verifying your account with your preferred exchange, you will then need to stock your cryptocurrency wallet.
For will need a brokerage account, who will be exposed to the maret on your behave.
Which currencies are you buying and selling
Amongs thousands of cryptocurrencies in the market, you have to settle for one or two. Precisely, trade the major currencies, like Bitcoin, Ethereum, Dogecoins, Litocoins. New altcoins are added, so you can trade them as well. But do your diligence to know about them..
Strategize before trading
Better understanding of the market puts you on the hedge. Cryptocurrency pricing depends on a many factors.
Government regulations, businessmen and media influence have being a major influence in the last 2 years. Dollar influence cannot be neglected as well.
Place your order strategically
Next step in trading is to define your ‘close’ conditions – i.e. the point that you will exit a trade. This can be an important discipline.
Always remember that cryptocurrencies are volatile and running large open positions is risky. At that specific moment that you attained your target, or you have hit your maximum loss, you will need to close out your position.
Set up this filter to automatically be your benchmark. It is advised to start small, or use demo account to practise. Move to real account after you have gain some experience about the market dynamics.
Here are the exchange rates for top cryptocurrencies to dollar.
The cryptocurrencies are bedeviled with high rate of volatility because it is the hottest trend in investment. However, here are some rundown of current rates as at the time of filing this report.
The spotlight will be on the top 10 cryptocurrencies based on their market value today 18 November 2021.
Cryptocurrency list: Dollar USD exchange rate | Market Value
Cryptocurrencies are the digital coin that live on the blockchain. It is a decentralized computer network that records all transactions. The value of crypto is determined by how many people buy it. That is why it does not depend on central authority like traditional currencies depend on banks.
As of March 2021, there are about 9,000 cryptocurrencies in the market. Bitcoin is the first to begin and still remain at the top because it has limited supplies that’s why some view it as a good store of value and an edge against inflation like gold.
Meanwhile, the total market capitalization for cryptocurrency has reduced to $2.18trillion as Bitcoin and altcoins continue to experience price decline. This excludes USD Coin (USDC) which rose by 0.04 in the last 24 hours and few others. Market value currently stands at $2.72billion.
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