Cryptocurrency has emerged as a viable alternative to ‘traditional’ asset classes, whether that be short-term or long-term investing. However, crypto also appeals from a day trading perspective, offering traders a pathway to regular profits that often far exceed what can be achieved with other financial instruments.

With that in mind, this guide discusses the best cryptocurrency to trade in 2023, covering coins suitable for day traders, before presenting an easy-to-follow walkthrough on how to begin trading crypto today.

The Best Cryptos to Trade in 2023

These days, many investors opt for buying cryptocurrency with a short-term investment timeframe – sometimes just a few hours. This approach is often referred to as ‘trading’ since the asset isn’t held long term.

Presented below are some of the best cryptocurrencies to day trade this year – all of which will be reviewed in the following section:

  1. Wall Street Memes (WSM) – $WSM is a new meme cryptocurrency token launched by Wall Street Memes, a prominent social media crypto platform. One of the best cryptos to trade, $WSM has already raised over $2.5 million in just a week.
  2. yPredict (YPRED) – State-of-the-art financial prognosis platform and crypto to trade in 2023. The project’s robust analysis and predictions can help users earn up to 45% ROI every quarter. $2 million now raised in its presale.
  3. Ecoterra (ECOTERRA) – A sustainable cryptocurrency project which rewards those that engage in recycling waste on the platform. This new cryptocurrency presale has already raised more than $4.5 million.
  4. DeeLance (DLANCE) – A blockchain-based decentralized platform that connects freelancers and clients. This platform offers low costs and crypto payment opportunities – $1.2 million raised in the presale.
  5. Launchpad XYZ (LPX) – Innovative Web3-geared crypto solution. Its user-friendly dashboard and live project feed arm tech newbies with the tools they need to succeed in the Web3 space. $800k raised in the presale.
  6. AiDoge (AID)AI-powered meme generator that has just rushed through its presale, raising $14.9 million in just four weeks – now heading for its IEO.
  7. Tamadoge (TAMA) New play-to-earn ecosystem that lets users purchase NFTs to use within in-game arcade modes to collect prizes. Augmented reality app on the way.
  8. Scorpion Casino (SCORP) –  A licensed, transparent, and provably fair platform that provides more than 30,000 bet opportunities monthly across casino games and sports betting events.
  9. Bitcoin (BTC) – The first cryptocurrency in the world, Bitcoin (BTC) is the largest traded cryptocurrency asset. The token has a total supply of just 21 million tokens, and boasts a market cap of over $530 billion.
  10. Cardano (ADA) – Following the Proof-of-Stake mechanism, Cardano offers high scalability, while offering low costs. This ecosystem can process over 250 transactions per second.
  11. Dogecoin (DOGE) – Created in 2013 as a joke, Dogecoin has been termed as one of the first meme tokens in this space. Since 2020, this token has remained as one of the top 10 crypto assets, in terms of market cap.
  12. Ripple (XRP) – A blockchain-based payment network that settles transactions at a faster and cheaper cost, compared to centralized banks and financial institutions.
  13. Binance Coin (BNB) – Native token of the Binance cryptocurrency exchange. With BNB tokens, investors can earn multiple discounts when trading assets on the exchange.
  14. Ethereum (ETH) – Second largest cryptocurrency in the space, with a current market cap of more than $219 billion. This decentralized blockchain can deploy smart contracts, is used as a base for creating decentralized applications and for conducting cross-chain payments.
  15. Chainlink (LINK) – A decentralized network of nodes that offers data to blockchain smart contracts via oracles.

A Closer Look at the Best Cryptocurrencies to Day Trade

The best cryptos to day trade in 2023 offer high liquidity and great returns potential, a must-have combination for short-term investors looking for crypto trading tips.

With that in mind, let’s explore the projects listed above in more detail – many of which may also be the most promising cryptocurrencies over the longer term.

1. Wall Street Memes – Overall Best Crypto to Trade

Wall Street Memes Crypto Price PredictionOne of the top ways to enter the cryptocurrency space is by diversifying your portfolio and investing in meme tokens. While they are considered risky investments, several tokens, such as Dogecoin, Shiba Inu, and Pepe, have offered enormous returns to investors.

Wall Street Memes is a newly launched high-potential meme coin that has the added advantage of a following of more than 1 million across social media – reflected with the $WSM token raising $2.5 million in its first week.

wall street memes

This platform was first established in 2019 when it released its own Twitter page. With over 217k followers, the Wall Street Memes Twitter has had responses from influential celebrities such as Elon Musk.

The developers have long experience in the space and previously released their own NFT project – Wall St Bulls – in 2021, with the first collection consisting of 10,000 Ethereum NFTs and selling out in just half an hour.

They also recently launched a Bitcoin Ordinals NFT collection and Wall Street Memes has now launched $WSM to capitalize on the meme frenzy that has seen the likes of Pepe, MiLady and Wojak skyrocket in recent weeks.

This community will be determined to acquire the $WSM token, which has already enjoyed an extremely fast start to its presale.

An affordable token to purchase, $WSM was listed on its first presale round at just $0.025 per token but is already in stage 5 at the time of writing, with tokens priced at $0.0262.

The presale will distribute 1 billion tokens across 30 presale rounds, with the price to increase to $0.0337 per token in the final round.

wall street memes cry

Out of the 2 billion max supply, 50% has been allocated to the presale which is open to all buyers – the remaining supply is split between community rewards (30%) and DEX and CEX liquidity (20%).

That means that there is no team allocation, making it one of the best cryptos to trade after its ICO as it will be 100% community driven.

The project aims to raise $30.57 million, after which an exchange listing will take place.

Interested readers can interact with a community on a number of platforms which can be found on Linktree.

Hard Cap $30,577,000
Total Tokens 2 billion
Tokens available in presale 1 billion
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase 100 $WSM
Payment method USDT, ETH

2. yPredict – Best Prediction and Analysis Platform and Crypto to Trade in 2023

yPredict logoRanking as No 2 on our best crypto to buy in 2023 list, yPredict is an AI-powered trading predictions network.

Even though it may not be the only blockchain project to offer financial research, it’s by far the most popular – namely, the platform drew over 20,000 users and has now reached $2 million in presale funding.

yPredict’s financial model’s sentiment, news, and market insights can turn you into an expert crypto trader.

As one of the best AI crypto projects, yPredict sets itself apart in the highly competitive crypto space by focusing on a pressing issue: the project strives to address the problem of an increasingly unpredictable financial market through blockchain technology.

Its PhD-level developers use the platform’s resources to build robust AI-driven predictive tools. 

With the help of patent-pending pattern recognition algorithms, these tools identify bearish and bullish markets, thus triggering trading alerts.

Traders and other crypto enthusiasts can use these signals to learn about the latest market movements and make informed investment decisions. However, they must hold yPredict’s native crypto token — YPRED — to be able to do so.

As yPredict’s whitepaper explains, this coin grants its owners a number of perks. They get full access to the yPredict Analytics platform, means for buying monthly subscriptions to models that generate trading signals, and marketplace voting rights.

For a discounted price of $0.07 per token, users can purchase lifetime access to free crypto predictions, 10% of the platform’s revenue from new subscriptions, voting incentives, and more.

These features are just the tip of the iceberg when it comes to yPredict’s innovations. The network’s creators plan to implement a series of other valuable services in the near future.

You can learn more about them by following Telegram and other social media. 

Presale Started February 2023
Purchase Methods ETH, MATIC, USDT, BNB, Card
Chain Polygon
Hard Cap $6,507,511
Min Investment 200 $YPRED
Max Investment None

3. Ecoterra – Recycle2Earn Cryptocurrency Platform Rewarding Users for Practicing Sustainable Deeds

Ecoterra Ecoterra logois a new cryptocurrency platform that aims to get businesses and individuals to complete more sustainable activities. In reward, the platform distributes $ECOTERRA tokens, the native token, as rewards.

The $ECOTERRA token is currently available to buy on presale for $0.0085 and has raised more than $4.5 million at the time of writing.

ecoterra reuse

$ECOTERRA has a total supply of 200 billion tokens – 800 million of which have been allocated for presale. Across nine rounds, these tokens will be distributed to presale investors.

By the final round, the price will jump to $0.01, a 17.6% price increase from current levels.

One of the main components of ecoterra is its Recycle2Earn application. The platform is compatible with all Reversed Vending Machines (RVMs) globally, meaning that millions can access the ecosystem.

Every time a user recycles waste using an RVM, they can scan the transaction on their EcoTerra app to get rewarded with free $ECOTERRA coins.

One can also access the Carbon Offsetting marketplace and purchase Verified Carbon Credits (VCUs) with $ECOTERRA. One carbon credit represents a ton of emissions to be removed from the environment.

Every time members practice such deeds, this sustainable cryptocurrency offers achievements, which will eventually be converted into NFTs.

Ecoterra crypto

With the $ECOTERRA tokens you hold, you can use them towards ecological initiatives such as ocean cleanups and planting trees.

Companies can also access Ecoterra’s recycled materials marketplace, where they can connected with recyclers. Transactions can be made between the two parties using $ECOTERRA coins.

Interested investors can buy the token now before the price rises during the subsequent rounds.

To learn more about Ecoterra, join the Telegram channel and read the ecoterra whitepaper.

Presale Started March 29
Purchase Methods ETH, USDT, Card
Chain Ethereum
Min Purchase $10
Max Purchase N/A

4. DeeLance – Decentralized Freelancing Cryptocurrency Available to Buy on Presale

deelance logoWith DeeLance, freelancers and clients can access a decentralized freelancing platform where payments can be made instantly using cryptocurrency.

Furthermore, the platform charges lower fees and offers more transparency than any of its competitors. The platform completes transactions using $DLANCE – the native token on presale.

DeeLance intro

$DLANCE has a total supply of just 1 billion – 30% of which has been allocated for the presale round. Currently, the token is priced at $0.038 but will eventually rise to $0.05 in its final presale round.

DeeLance will offer a metaverse platform where freelancers can connect with clients. On the metaverse, the two parties can interact via office spaces and meeting rooms.

With $DLANCE, members can even purchase virtual land and lease office spaces. DeeLance also offers escrow payment services to ensure that the freelancers receive the payment after the work is completed.

To regularly check in with both parties, DeeLance will offer AI chatbots as well. Freelancers can mint their works into NFTs through the NFT marketplace. This will easily facilitate the transfer of ownership process.

deelance freelance

On the NFT marketplace, members will get exclusive access to other NFT catalogs and showcase events as well. Thus, they can use $DLANCE to purchase other NFT items.

Importantly, DeeLance will significantly reduce the costs for both freelancers and clients. Compared to some of the top freelance agencies, such as Upwork and Fiverr, DeeLance boasts the lowest commissions and fees.

The platform charges just a 10% commission from freelancers and a 2% fee from clients.

Since the cryptocurrency presale started, DeeLance has raised over $1.2 million. You can read the DeeLance whitepaper and join the telegram channel to learn more about this project.

Presale Started March 30
Purchase Methods ETH, USDT, Card
Chain Ethereum
Min Purchase $10
Max Purchase N/A

5. Launchpad XYZ — Best Web3-Enabled Crypto to Trade in 2023

LAUNCHPADIn a close race with its forerunners, Launchpad XYZ ranks fifth on our best crypto to trade in 2023 top list. This project occupies a unique position in the crypto industry, both in terms of its presale stage and its area of focus.

Although it only launched in April 2023, its user-centric approach to the complex world of Web3 garnered significant attention and has raised close to $900,000.

Launchpad XYZ’s blockchain dashboard helps users understand how the Web3 markets work, no matter their background or skill level.

For a long time, the next-gen internet, Web3, was only a buzzword in the media. While powerful and versatile, the ecosystem seemed too complex and intimidating for an average user.

Launchpad XYZ’s creators saw this problem as a market gap they could bridge using digital ledger technology. As described in Launchpad XYZ’s whitepaper, they leveraged blockchain to create a user-friendly gateway into Web3.

Launchpad XYZ is all you need to make a profit in the decentralized arena. From non-fungible and utility tokens to W3 presales and P2E games, the project puts a ton of features at your disposal.

It helps you stay abreast of market fluctuations through a single feed named Launchpad Quotient (LQ).

Its DEX, crypto wallet, and trading terminal will allow you to take advantage of this information and make profitable investments.

The benefits outlined above lend support to Launchpad’s projected influx of 10 million users by 2025.

To join the early supporters, you can follow this network’s Telegram channel and purchase its native token, LPX. Its presale price sits at $0.0445 per coin.

Presale Started April 2023
Purchase Methods USDT, ETH, Transak
Chain Polygon
Hard Cap $12.5 million
Min Investment None
Max Investment None

6. AiDoge – Overall Best Crypto to Trade in 2023

Logo for AiDogeAiDoge is one of best cryptos to trade in 2023 and will soon be listed on various exchanges.

The $AI token presale sold out its $14.9 million hard cap in just three weeks and will host its initial exchange offering in the coming weeks.

AiDoge's future-forward platform and advanced meme-generation functions make it the crypto of the future.

Its high ranking stems from three compelling factors — a clear objective, immense growth potential, and widespread global popularity.

This groundbreaking project combines the best of two seemingly unrelated worlds — blockchain technology and digital content generation. It utilizes advanced AI-powered algorithms to facilitate today’s most-popular communication and engagement medium: memes.

By holding its native crypto token (AID), AiDoge users gain access to its in-house tools and resources, which allow them to build high-quality, relevant multimedia.

According to the AiDoge whitepaper, token holders use their coin reserves to buy credits for meme creation. With the help of this virtual currency, they put text-based prompts into AiDoge’s meme generator and let it work its magic.

The mechanism relies on millions of data points collected from the meme and news sector to develop contextually-relevant content. The end result is an original and engaging meme that can be distributed whenever it is convenient for the creator.

The project’s dedicated public wall is the best way to share content of this type. It provides a feed where users can post memes and vote on them.

Buy AiDoge via presale

Upvoted creations gain greater visibility and are ranked against one another. The creator of the highest-scoring meme receives monthly tokens for participating in the network and supporting it.

AID coins also give their holders a chance to earn passive income through staking. Namely, if you lock your coins into a staking wallet, the platform will grant you access to premium features like new templates and special contests and reward you with daily incentives.

This AiDoge feature, combined with the feed mentioned above, helps foster a dynamic and strong community and promote development and success. 

Follow AiDoge’s official Telegram to learn more about the project.

Presale Started April 2023
Purchase Methods ETH, USDT, BNB, Credit Card
Chain Ethereum
Hard Cap $14,900,000
Min Investment 38,461 $Ai
Max Investment None

Tamadoge logoOur next pick for the best upcoming crypto to day trade in 2023 is Tamadoge.

As the name suggests, Tamadoge takes inspiration from the popular ‘Doge-based’ cryptocurrencies that formed the meme coin craze, such as Shiba Inu and Dogecoin.

However, Tamadoge looks to better these coins by offering various exciting use cases into the equation.

Firstly, Tamadoge looks set to become one of the best new play-to-earn games since users can mint ‘Tamadoge pets’ and battle them against others. Each pet has its own set of attributes and strengths, which help inform whether they win battles or not.

Dogepoints are distributed to winners, and those with the most Dogepoints at the end of each month will receive a reward.

Rewards are distributed in TAMA, which is Tamadoge’s native ERC-20 token. TAMA tokens have various use cases, such as being the Tamadoge ecosystem’s transactional currency.

Users can buy food and accessories for their Tamadoge pet – and can even purchase additional pets if they wish.

Tamadoge’s team has numerous exciting plans noted in the roadmap – including a dedicated augmented reality (AR) mobile app, which has recently applied to list on iOS and Android. These developments may help the token gain momentum in the long term as well.

Tamadoge meme coin

Notably, TAMA aims to be a deflationary token. 5% of all coin spent on the ecosystem will be burnt. This will help increase the demand against the supply in the long run.

After raising $19 million during presale, TAMA was listed on OKX exchange and has since remained in the top 10 of meme coins by trading volume.

TAMA reached an all-time high of $0.19 per token but has since retraced because of wider market conditions.

However, with the main game set for release in 2023 – as well as other arcade-style mini-games and an augmented reality app – another pump is expected in the coming months.

8. Scorpion Casino – A Complete Online Casino with all Major Games From all Major Game Providers

SCORP is not just an excellent trading crypto. It also earns you an attractive passive staking income worth up to $10,000. While most long-term crypto investments stay idle in wallets, SCORP makes money for you.

It is the utility crypto of the social online gambling platform Scorpion Casino. The casino’s built-in re-distribution system on every transaction makes the passive income feasible, without crippling its economy.

In addition, the platform has implemented a burning mechanism. It sustains the long-term value of the token and makes it largely immune to broader market volatility.

SCORP serves as the payment method of the casino and gives you access to more than 30,000 betting opportunities monthly across 210 casino games and 160 live games.

  • It is connected with all major providers like Evolution, NetEnt, Play N Go, Novomatic, EGT, and AMATIC.
  • It offers sports betting opportunities on football, tennis, American football, horse racing, basketball, golf, boxing, and MMA events.
  • Partners like BetRadar and CoinsPaid ensure excellent user experience.

The ongoing SCORP presale can get early investors up to 20X returns by the end of the year. Too good to be true?

The unique value propositions of the project in the fast-growing gambling and betting industries justify the prediction. For the same reason, Scorpion Casino has already secured a listing with one of the leading centralized crypto exchanges.

Enroll in the Elite Scorpion Members Club for VIP service, cashback, extra staking rewards, and extra SCORP tokens at the presale.

(Use the Exclusive Bonus Code Scorpion20 to get 20% extra tokens. Available for a limited period only)

Token symbol SCORP
Presale supply 200,000,000 SCORP
Token type BEP-20
Payment methods ETH, USDT, BNB
Listing price

9. Bitcoin (BTC) – World’s Largest Cryptocurrency Boasting Huge Liquidity

BTC logoBitcoin remains the world’s largest cryptocurrency, according to CoinMarketCap, boasting a market cap of over $525 billion. Much of Bitcoin’s success has come from its ‘first mover’ status, having launched the cryptocurrency revolution back in 2009.

Although the BTC price has taken a hit in 2022, this crypto remains one of the best options for day traders.


The reason many consider Bitcoin to be the best cryptocurrency to trade is the fact it is so widely adopted.

Not only do merchants worldwide now accept BTC as a payment method, but many investment firms now offer financial products that provide exposure to Bitcoin’s price.

Furthermore, Bitcoin regularly showcases over $26 billion in daily trading volume, making it the most traded crypto worldwide. This also means that many of the best crypto exchanges offer low spreads on BTC trading, ensuring it remains appealing to day traders and scalpers.

10. Cardano (ADA) – Appealing Crypto for Day Traders and Scalpers

Cardano logoCardano has been touted by many as the best cryptocurrency on the market, as the platform seeks to rival the likes of Ethereum in the blockchain sector.

Cardano is a blockchain network developed by Charles Hoskinson, one of Ethereum’s co-founders. The network features smart contract functionality, making it ideal for dApp developers.

Cardano project

Cardano also uses a ‘Proof-of-Stake’ (PoS) mechanism to achieve consensus, making it much less energy intensive than Bitcoin and Ethereum.

This mechanism also allows network users to stake their ADA tokens and generate a yield of over 4% per year.

ADA is also great from a trading perspective, as it remains one of the top ten most traded cryptos worldwide. Furthermore, ADA’s price movements can often be less volatile than smaller cryptos, making the token ideal for day traders and scalpers.

DOGE logoDogecoin remains one of the best meme coins on the market, even after its dramatic fall from grace since May 2021.

However, even though DOGE is trading over 90% below all-time highs at the time of writing, the coin remains a favorite of crypto traders due to its return potential.

Dogecoin trading

Dogecoin’s low price relative to what it once was makes it great for short-term moves. For example, it’s not uncommon for the DOGE price to surge by over 10% in one trading day before completely retracing the following day.

Although this volatility may put off some traders, those with a higher risk tolerance can often find abundant trading opportunities.

DOGE is also considered by many to be the best crypto to buy on Reddit due to the coin’s colossal community backing.

The Dogecoin subreddit (r/dogecoin) still has over 2.3 million members, whilst the official Twitter account boasts 3.4 million followers – meaning this coin remains extremely popular amongst retail traders. 

12. Ripple (XRP) – Best Cryptocurrency to Trade for a Potential Rebound

XRP logoAlthough considered one of the best long-term crypto investments, XRP is also an excellent option for traders with a short-term investment horizon.

For those unaware, Ripple is a blockchain-based payments protocol that allows people to send money worldwide with low fees.


Ripple’s average transaction time is just five seconds, making this protocol much more attractive than the traditional SWIFT mechanism.

In addition, since transactions cost just 0.00001 XRP, overseas money transfers are much more cost-effective when using Ripple.

Due to Ripple’s popularity and stability, XRP has become a popular token amongst traders because it has the potential to become one of the most sustainable cryptos on the market.

However, Ripple still has an ongoing battle with the SEC, which has caused volatility in recent years. If the outcome of this battle is positive for Ripple, it could provide some exciting trading opportunities for short-term investors.

13. Binance Coin (BNB) – Great Token to Trade with Low Volatility

BNB logoAs the name suggests, Binance Coin is the utility token of Binance – the world’s largest cryptocurrency exchange, according to CoinMarketCap.

Since BNB is inextricably linked to Binance, the coin’s price movements tend to be influenced by the platform’s growth.

Binance Coin trading

BNB has several use cases, such as trading fee discounts and access to token sales on the Binance Launch Pad.

The token is also used within the Binance Smart Chain (BSC) for tasks such as minting NFTs and creating dApps.

Due to BNB’s massive liquidity, the token is perfect for crypto traders. Furthermore, BNB tends to exhibit low volatility relative to other cryptocurrencies.

As such, many traders opt to day trade or scalp BNB, as it’s rare that the token’s price will move erratically.

14. Ethereum (ETH) – Best Cryptocurrency to Trade for Clear Price Action

ETH logoEthereum needs no introduction, as it has solidified itself as one of the best altcoins on the market over the past few years.

The Ethereum blockchain made a name for itself due to its smart contract functionality, yet its native token, ETH, is also appealing from a trading perspective.

Ethereum trading

Since ETH is used to pay network (GAS) fees, the token remains in high demand throughout the year.

This demand plays a massive role in ETH’s price movements, as the more ‘active’ the network is, the more bullish momentum the token seems to experience.

Many traders looking to make money with cryptocurrency will also gravitate towards Ethereum due to the well-defined price action it offers.

A glance at the ETH/USD price chart will clearly showcase strong support and resistance levels, which can act as entry points for traders. Combine this with Ethereum’s high liquidity, and it’s clear why this token is so favored.

LINK logoConcluding our list of the best cryptos to day trade in 2023 is Chainlink. Chainlink is a ‘decentralized oracle network’ which provides real-world data to decentralized applications (dApps).

Since these dApps cannot receive data from centralized sources, Chainlink allows them to operate while remaining decentralized.

Chainlink network

Data is aggregated from numerous ‘oracles’ on the Chainlink network, ensuring that the dApp receives accurate information.

The recipient of the information rewards the provider with LINK tokens, providing an incentive to deliver factual data.

LINK can also be traded on most of the top crypto exchanges, with the token’s price surging to an all-time high of $52.66 back in May 2021.

Although LINK is trading around 86% lower than this high at the time of writing, the token’s valuable utility has caused many analysts to believe it is trading at a significant discount.

Crypto Trading Explained

So, what is crypto trading? In essence, crypto trading is the process of buying and selling cryptocurrencies over a short timeframe.

For example, an investor may buy Bitcoin in the morning and then sell it a few hours later in the afternoon – that’s an example of crypto trading.

Bitcoin trading

Like long-term investing, crypto traders are speculating on the price of an asset, either by going ‘long’ or going ‘short’.

However, since investment timeframes are usually measured in hours (or even minutes) when crypto trading, this approach tends to focus on smaller price movements.

The main benefit of crypto trading, as compared to other strategies, is that traders can make profits in a very short amount of time.

Buying one of the most undervalued cryptos just before a bullish surge, then selling immediately after, has been known to net crypto traders double-digit profits in just a few hours.

However, although the best cryptocurrencies to day trade can provide market-beating returns, it’s also essential to remember that this strategy is deemed riskier than longer-term approaches (e.g. ‘buy and hold’).

The crypto market is inherently volatile, so trading these coins short-term requires a high-risk tolerance.  

Crypto Trading vs Crypto Investing

When researching the best cryptocurrency to day trade, it’s vital to understand the differences between ‘crypto trading’ and ‘crypto investing’. Many people believe that both terms refer to the same approach – but this isn’t the case.

As noted above, crypto trading refers to the process of speculating on a coin’s price movements over a short-term investment horizon. There is no upper limit for this horizon, although positions can often be opened and closed on the same day. Although this approach is riskier, it can result in market-beating returns if done correctly.

Crypto day trading

On the other hand, crypto investing has a more long-term approach – similar to the well-known ‘Buy and Hold’ strategy. Those who invest in cryptocurrency with a longer investment horizon can ride out periods of volatility, meaning that emotions don’t play as big a role as they do with trading. Crypto investors also don’t need to ‘time the market’, as the exact entry point isn’t crucial.

So, which approach is better? There is no definitive answer here, as each approach will appeal to a specific demographic. Trading is considered riskier and requires a more ‘ hands-on’ approach, which can be challenging for people will full-time jobs. However, as mentioned earlier, effective traders can often make double-digit daily returns if they open well-researched positions. 

Crypto Day Trading

Crypto day trading is a subset of crypto trading and involves opening and closing a position on the same day. Here’s an example of how this would work:

  • A trader buys BTC at $21,000 in the morning
  • A few hours later, BTC’s price surges to $23,000
  • The trader opts to close out their BTC trade in the afternoon
  • The trader makes a return of 9.52% in just a few hours

The example above highlights how lucrative day trading can be, especially if positions are well-researched and appropriate risk management is employed. However, day trading is a very ‘active’ approach, as traders must constantly monitor the price charts for entry points.

Thus, day trading is more appropriate for traders who can be ‘hands-on’ throughout the day, as the entry point is essential, each trade’s exit point is arguably even more important. Nevertheless, since day trading involves small price movements, there’s often an abundance of opportunities each day for this strategy. 

Crypto Trading Strategies

Market participants can employ plenty of trading strategies, many of which have been tried and tested with ‘traditional’ asset classes. Presented below are four of the most popular strategies:

Day Trading

As discussed above, day trading is the process of opening and closing a trade on the same day. This strategy focuses on regularly generating small returns, meaning trading balances can compound quickly. Although a relatively risky approach, day trading can be highly profitable for those adept at it.


Scalping is a subset of day trading, yet it takes this approach one step further. Instead of focusing on hours, scalpers tend to have investment horizons of just minutes – or even seconds.

Since scalpers only look to generate returns of around 1% on each trade, entry points and exit points are crucial to this strategy. As such, many crypto signals Telegram groups will provide real-time alerts when a trade opportunity has been identified, meaning scalpers don’t have to be at the charts all day.

Crypto scalping

Dollar-Cost Averaging

As noted by Forbes, dollar-cost averaging is a trading strategy that allows investors to lower the amount they pay for investments and minimize risk. This strategy involves investing the same amount of money into a particular crypto at regular intervals – regardless of its price.

This approach helps remove the emotions associated with trading, as investments are made when the price is both low and high. Over time, the hope is that an investor’s average entry point is lowered, providing a foundation for future gains.

‘Buy and Hold’

Finally, traders may opt to ‘Buy and Hold’ if they wish to employ a long-term approach. Although not considered a ‘trading’ strategy per se, the decision to buy and hold makes the process entirely passive, as no position management is required.

Buy and hold investors are not concerned about short-term price movements, as they often hold for months or even years. Although this strategy often misses potentially lucrative openings, it is ideal for investors who cannot be active and wish to let their investments run. 

What is the Best Time to Trade Cryptocurrencies?

Is there a ‘best’ time to trade cryptocurrencies? This is a challenging question to answer since the crypto market is open 24/7. However, there are a few factors to consider when choosing when to place cryptocurrency trades.

According to Statista, daily crypto trading volume peaked on May 20, 2021, when the market surged to a $516 billion valuation. When the market is this active, liquidity is extremely high, which reduces the chance of slippage and allows an order to be executed instantly. Based on these factors, opening positions when the volume is elevated can benefit traders.

Crypto trading hours volume

Those wondering how to trade cryptocurrency may also wish to open positions during US stock market hours, between 9.30 am and 4.00 pm EST. Again, this is when most traders are ‘active’ in the markets, which helps boost liquidity.

On the other hand, many traders opt to avoid the markets over the weekend. Institutional traders aren’t active on Saturdays and Sundays, meaning volume is low – leading to higher spreads from many of the best altcoin exchanges. In addition, price movements over the weekend often conflict with the overarching analysis of specific crypto, which may lead to avoidable losses.

Best Cryptocurrency to Trade – Conclusion

To conclude, this guide has conducted a deep dive into the best cryptocurrency to trade in 2023, discussing coins best suited for day traders before exploring several top trading strategies.

Thanks to its rapid growth and massive community, Wall Street Memes has quickly emerged at the forefront.

The meme coin has been developed by a team that already boasts more than a million social media followers and has proven experience in crypto having previously launched a highly successful NFT collection.

Its potential has been shown in the early stages of the $WSM presale, where more than $2.5 million has been raised in just a week.


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