Best Cryptocurrencies on Webull

Wow! Just look at that market cap. The cryptocurrency market may be down from its all time high of almost $3 trillion, but it doesn’t look like it’s going to stop here. Investors are hoping the current downtrend is a healthy sign that will lead the market to new all-time highs in the long run. And it just might. Remember, the crypto market has had some serious bear streaks in the past, only to see tokens like Bitcoin skyrocket.

Alongside Bitcoin (BTC) and Ethereum (ETH), the crypto market has made terrific gains for investors this year as top altcoin names like Dogecoin (DOGE) make their way into the mainstream lexicon. Finding a reputable exchange that carries it, however, can take some research and patience.

Experienced traders often open accounts on multiple exchanges to increase their selection of altcoin offerings. But picking a reputable exchange in this growing industry can be daunting. Webull provides a 1-stop-shop for stocks, options, exchange-traded funds (ETFs), and cryptocurrencies.

With Webull, traders of all experience levels can start a crypto portfolio. Webull has created a fantastic trading platform for both novice and experienced traders. With advanced charting and analysis tools, Webull stands out as a leading exchange for tech-savvy investors. 

So what are the best cryptocurrencies on Webull? And what’s the real difference between Bitcoin and the rest of the altcoins available on the platform?

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Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

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Bitcoin Versus Altcoins

Bitcoin stands out prominently as the world’s 1st and largest cryptocurrency. Taking up nearly 50% of the total crypto market, Bitcoin remains the safest choice for investors seeking long-term gains with minimal relative risk. Yes, Bitcoin has faltered, but it tends to recover over time.

With that said, altcoins have absolutely exploded in recent years, returning monstrous gains for the holders of a few key currencies. Projects like Dogecoin and Cardano (ADA) have stood out from the pack, even if they haven’t seen the biggest gains. At times, it’s better to stand out than it is to make money right now.

Of course, trading altcoins carries a much higher risk. But with high risk comes high reward. Diversifying your holdings into Bitcoin and a number of other top-tier altcoins is a great investment strategy.

It’s good to keep in mind that Bitcoin operates on its own blockchain. Many altcoins, however,  run on top of the Ethereum blockchain. While these ERC-20 tokens represent unique companies, the prices of the currencies often correlate with one another and the native token of their adopted platforms — in this case, ETH.  

Best Cryptocurrencies on Webull

For any exchange, a diverse offering of cryptocurrencies will bring more customers to the table. And though many 1st-time buyers of cryptocurrency stick to Bitcoin exclusively, savvy traders are looking to purchase a number of high-risk, high-reward altcoins. 

Indeed, holding a diversity of cryptocurrencies in your portfolio has proven a solid investment strategy. Still, avoiding overpriced assets is key when choosing from the selection offered on any exchange. After carefully analysing the price and utility of each coin on the platform, the following list represents the best cryptocurrencies on Webull:

1. Bitcoin (BTC) has pulled back, but it hasn’t tanked completely. At times, it slumps. At times, it gains. However, it could take time for the token to regain its previous highs and more.
2. Ethereum (ETH) has made huge strides toward transitioning into a proof-of-stake blockchain. The undisputed leader of the smart contract space, ETH 2.0 promises to bring the No. 2 cryptocurrency by market cap into a cleaner, faster future. ETH is down along with the rest of the crypto market, but it could make gains because it serves as a platform for so many other projects.
3. Polygon (MATIC) takes 3rd on this list of the best cryptocurrencies on Webull. Polygon is an Ethereum sidechain that is scaling DeFi at a rapid rate. Polygon has remained fairly steady in comparison to the rest of the crypto market by only falling slightly.
4. Solana (SOL) is one of Ethereum's top competitors and managed to see exponential gains in 2021 and going into 2022. The main benefit of Solana over other smart contract blockchains is its focus on scalability. Solana uses a proof of stake consensus model alongside proof of history to process thousands of transactions per second. Plus, transaction fees on Solana are about 99% less expensive than Ethereum's, making it a great option for retail traders that don't have the capital to pay 3-figure gas fees on Ethereum.
5. Cardano (ADA) and Ethereum aim to achieve similar goals, they do so in very different ways. Cardano can theoretically handle thousands of transactions per second, allowing for far better scalability. As of recently, Cardano's smart contracts are working and will continue to be further developed.

There are a few top-tier cryptocurrency projects missing from Webull’s offering. One includes include Polkadot (DOT). Polkadot is a smart contract-enabled blockchain that compete with Ethereum and Cardano, both of which have multi-billion dollar market capitalizations. Luckily, Polkadot and other tokens not available on webull are available on Coinbase as well as a few other exchanges.

Store Your Crypto Safely

Whichever exchange you decide to use, you’re going to need to find a way to store your crypto safely. Whether you decide to buy a cold storage wallet like Ledger or a software wallet like Coinbase offers, taking full ownership of your cryptocurrency requires you to move it off of the exchange after your purchase. 

Don’t forget to keep your passphrase and private keys safely tucked away. With Ledger, your  private keys are stored on the device. 

Cryptocurrency Price Movements

Cryptocurrency prices have calmed some after experiencing enormous gains last week. Settling briefly, the market looks poised to accept a new tranche of support as the investing world continues to look for creative ways to hedge against the dollar. With market participation increasing and top-tier altcoins becoming household names, many investors are preparing for a massive influx of fiat into the space.

Bitcoin is holding steady. While altcoins have stolen the headlines as of late, the cryptocurrency world is expecting Bitcoin to explode higher in the coming months as institutions invest further into the decentralized economy.    

Other Cryptocurrency Exchanges Available in the US

Alongside the growth of blockchain companies, traditional and decentralized exchanges (DEXs) offering cryptocurrencies have become readily available to U.S, consumers. While the most popular option is likely Coinbase, another great option is Voyager.  

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