Investment in cryptocurrencies, such as Bitcoin and Ethereum, has been increasingly popular lately due to several favorable features. Being accepted by more people every day is only the beginning; their decentralized nature makes them attractive to investors who want safety from governmental control or oversight. Investing in digital currencies also offers a terrific opportunity to make substantial returns on your investments.
The increasing appeal of crypto investments can be attributed to the rising mainstream acknowledgment of digital currencies. Numerous significant companies and financial institutions, like PayPal and Visa, now accept Bitcoin as well as other cryptocurrencies for payment processing – a move that has assisted in validating these forms of currency in people’s minds.
So what are the best cryptos to buy now, in March 2023? Let’s discuss this question today and talk about the up-and-coming WhiteBIT token today.
How to Choose Crypto?
Deciding which cryptocurrency to invest in can be a daunting task, as the crypto-market offers hundreds of digital currencies with varied features and potential returns. To make the right choice, it’s important to consider several key elements:
- Price history
- Capitalization
- Developers
- Real use cases
- Technology.
Based on these factors, the best cryptos to buy now are:
- Bitcoin
- Ethereum
- Polkadot
- Solana
- Cardano
- BNB Coin.
However, successful investments imply diversification, so you should also add less popular assets with lower indicators of a cap, for example, the WhiteBIT token. Let’s look at its price history.
When the asset was released by the WhiteBIT platform, the WhiteBIT token price was around $4,5. In October 2022, the rate grew over $12, then over $14, and then experienced a drop to $5 in November. Since then, the WhiteBIT token price did not change much, and in March 2023, it was $4.76.
How Does Cryptocurrency Price Go Up?
Numerous components can affect the price of cryptocurrencies, such as:
- Supply and demand. If more consumers are wanting to purchase a particular asset than what is available for sale, it can cause prices to rise significantly.
- Positive announcements or news related to a certain currency can inspire investors and thus increase its value, whereas negative messages cause it to plummet.
- As more and more people, businesses, and governments adopt crypto, this can have a direct effect on their prices.
- As crypto technology and inventions evolve, they can have a dramatic impact on prices. Investors are usually drawn towards new features or enhancements to existing technology which makes investing in that particular virtual currency more appealing, leading to increased values over time.
- When government regulations shift or economic turbulence arises in certain countries, investors are often driven to find new investments like cryptocurrency which may cause an increase in value.
It is critical to understand that the prices of crypto can fluctuate drastically and without warning. Just like with every other type of investment, it’s vital to perform your own research and thoughtfully weigh all factors that may affect the cost of a particular asset before making a decision.
