Crypto rivalry – How can it benefit you?
Five crypto coins dominate the market, and their market share makes up 80% of the market cap, with the rest of the coins trading in the low millions.
Bitcoin alone is responsible for over 60% of the market share, but this number fluctuates often. The addition of new altcoins like Cardano, Dogecoin, and Solana will probably decrease Bitcoin’s share going forward.
The competition at the top seems to be much tighter than it looks, as these new coins have more efficient algorithms, and they are trending on social media, which drives the value up.
An example of how social media can influence crypto markets is the recent admission from Elon Musk that he owns crypto, resulting in the price of Dogecoin surging by 8% in a day’s time frame.
If there is a coin that could topple Bitcoin, it is Ether, which rallied in May and contributed to the crypto market reaching its record-high $2 trillion market cap.
Ethereum’s use of DeFi (decentralized finance) and the NFTs (non-fungible tokens) garner more interest in the coin. However, Bitcoin still dominates, as countries like El Salvador are accepting it as legal tender. In addition, corporations like Tesla and SpaceX are holding on to their Bitcoins, waiting for the day mining becomes more environmentally friendly.
Here’s how you can benefit
A bit of healthy competition is always a good thing, especially in the crypto market, since you can choose from thousands of coins. The secret is to find a good broker whose platform supports the efficient buying and selling of cryptocurrencies.
Starcapital is a cryptocurrency broker whose vision is to keep it simple, ensuring security and safety simultaneously.
Their web-based trading platform allows for trading from any device, and no downloadable application is required. Starcapital’s trading platform has next-generation technology and allows for fast order execution; in addition, the interface is user-friendly.
Starcapital provides you with a dedicated account manager to guide and equip you with the proper tools. They have strict compliance, security and AML policies to ensure no malicious activities occur on their platform, thereby safeguarding their clients’ funds and personal information.
They offer multiple payment methods, which include cryptocurrencies, bank wires and credit/debit cards. Withdrawals are processed through the same payment methods. To ensure funds are returned to the legal owner, personal ID verification is required when processing withdrawals.
Starcapital’s support service operates 24 hours, six days a week, and is reachable via email or chat service.
The competition in the crypto markets is creating opportunities for anyone to start trading. Starcapital’s web-based platform is equipped with the proper tools and features required to start crypto trading. Their vision to allow trading from anywhere is enabled through the comprehensive features they offer. Furthermore, their dedication to customer service is an excellent reason to consider this broker reliable.