- Bitcoin (BTC): The largest market cap and widely traded. Often used as a reference in the market.
- Ethereum (ETH): A popular smart contract platform that supports many applications.
- Blue Chip Meme Coins (selected for ease of entry and their strong momentum):
- BNB (from Binance)
- ADA (Cardano)
- SOL (Solana)
- DOT (Polkadot)
- XRP (Ripple)
- Stablecoins (for planning and facilitating trading):
- USDT, USDC
Selection speed criteria for beginners
- Liquidity and spread: choose currencies with high trading volume and wide acceptance on exchanges.
- Security and updates: choose projects that have active development and ongoing security audits.
- Real-world usage: currencies that are used in well-known applications or platforms are usually more stable.
- Fees and ease: reduce fees when buying and storing, and check the ease of buying and selling.
Practical steps for beginners
1) Determine how much money you can afford to lose without significantly impacting your financial situation.
2) Choose a reliable and secure platform to launch your account (check licenses, protection, and fees).
3) Start with small amounts in BTC and ETH as a baseline, then you can move to other currencies based on your desire and risk tolerance.
4) Use a secure wallet to store your assets away from exchanges as much as possible (hardware wallets are preferred for long-term risks).
5) Adopt a regular buying method (Dollar-Cost Averaging) to mitigate price volatility.
6) Keep records of purchases, sales, and potential taxes, and follow regulatory developments.
