2 Cryptocurrencies to Buy Today, 20th of August, for short-term profit

Bitcoin (BTC) has dropped -1.8% during the last 24 hours, and is now worth $25,937. In addition, volume has decreased by 46% during the same time period, suggesting that fewer people are actively trading. Bitcoin’s year-to-date rise is about 50%, which is amazing given the recent slump.

Bitcoin’s decentralised structure ensures it will continue to be a viable investment option. Bitcoin, in contrast to traditional currencies, is not regulated by any central bank or government.

As a result, it is not bound by the restrictions of the traditional financial system, giving its users more freedom in managing their money and less vulnerability to political meddling or currency manipulation. Bitcoin transactions are often faster and cheaper than those utilising conventional currencies since there are no middlemen involved.

This feature is especially useful for cross-border payments, which may be time-consuming and costly when using traditional currencies. Bitcoin is a more safe investment option than many traditional options because of the extra layer of protection it provides by using encryption to prevent fraud and hacking.

Bitcoin, being a deflationary currency, is appealing as an investment since its value rises over time, in contrast to fiat currencies, whose value falls owing to inflation.

Binance Coin (BNB) Source photo Binance Blockchain Monedă — Imagine gratuită pe Pixabay — Pixabay

Currently, the market value for Binance Coin (BNB) is $33.25 billion, and the coin is trading at $216.12 with a 24-hour trading volume of $837 million. In the last day, the value of BNB has dropped by 1.10 percent. On May 10, 2021, Binance Coin’s value reached an all-time high of $689.33.

The Relative Strength Index (RSI) for the BNB market is now at 24.39, putting it in an oversold condition. Binance has released the opBNB Mainnet, which improves transaction speed, security, and scalability in the decentralised scaling sector.