Which cryptocurrency is best to trade on the exchange?

One of the most popular strategies among traders is day trading . No one likes to wait long for trade results.

By the end of the day, or even sooner, you already know the final result of an open order. However, to make a significant profit, you need to trade a fairly substantial volume.

Alternatively, you can choose an asset with good dynamics, which is what cryptocurrency pairs are currently doing. However, the question immediately arises:

which cryptocurrency should you trade? After all, a trader's terminal now offers quite a variety of pairs.

The choice is actually much simpler than it might seem at first glance; just weigh the pros and cons.

First, you need to find out which cryptocurrencies can be traded on the platform?

Most brokers have a top six, so to speak. These are the most popular assets, such as:

You can also trade other virtual currencies; you'll find the full list here: http://time-forex.com/kriptovaluty/spisok-kripto

However, you should only choose from the top six, as there are several objective reasons for this:

Spread size – this indicator significantly influences the choice of which cryptocurrency is best to trade, as the spreads for this asset are far from small:

When comparing spreads, remember that each asset has a different lot size. Therefore, you can't simply compare Bitcoin, with a $9,000 lot size and a 300-pip spread, with Ripple, with a $20 lot size and a 0.16-pip spread.

For an accurate comparison, you need to use identical trade sizes to obtain a reliable result.

To be fair, it should be noted that the volatility of virtual currencies is quite high and is often calculated as a percentage rather than pips as with regular currencies. Therefore, the commission size doesn't have a decisive impact on the profitability of an open position.

Availability – it's important that the asset is available with your cryptocurrency broker , as not everyone will be willing to switch their usual brokerage.

Most dealing centers offer only a couple of crypto assets, most commonly Bitcoin, Ethereum, Litecoin, and Ripple, although there may be other options where the quoted currency is the euro in addition to the dollar.

So, you may have to decide what's more important to you: a broker or which cryptocurrency to trade.

Predictability – to make an accurate forecast, you need as much information as possible or use technical analysis.

While technical analysis information is available for almost all crypto assets, fundamental analysis is a bit more complicated. The more popular a cryptocurrency, the more news, analysis, and forecasts are available.

Ultimately, if you consider all the factors, the answer to the question of which cryptocurrency is better for trading on Forex is Bitcoin or Ethereum.

In my opinion, these are currently the best choices; both assets meet all the requirements for successful trading. But perhaps you'll prefer another promising asset.