Cryptocurrency has grown wide with daily invention of new crypto coins into the crypto world. With over 18,000 different coins and tokens in the market. Investors and newbies in crypto world, they however develop a great interest in buying this coins but buying the right coin to maximize their long-term returns can be devastating at times. Most long-term crypto investors do generate massive profits for holding coin for a long period of time, there’s a secret that all crypto investors and newbies should know before venturing into this process.
I will be giving out in this content the four best long-term coins you should be holding in till the end for this year.
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TOP 4 BEST CRYPTOCURRENCIES TO HOLD FOR LONG-TERM
Bitcoin of no doubt has been the largest cryptocurrency in the whole crypto world by market cap. bitcoin has been helpful in the purchase of anything online or off. Although crypto investors see it as a buy and hold assets in their portfolios, it has totally been seen by them as a safe-haven investment than a currency as it was.
Bitcoin triggered last year when Elon Musk disclosed that their company had purchased $1.5 billion worth, and later revealed bitcoin has a means of payment for cars purchase. Although other companies like PayPal, Microsoft, The Home Depot, and Rakuten accept Bitcoin as a payment.
Bitcoin has totally been the best outstanding investment in the last 12 years, Bitcoin is however a Volatile assets has you keep watch of it day to day.
Ethereum is the second only ranked after bitcoin according to market capitalization. It’s a decentralized blockchain, open source blockchain with the functionalities of different smart contract. Ether is certainly the native Cryptocurrency of the platform, it was founded in 2013 by vitalik Buterin.
Ethereum is undergoing an upgrading which is called Eth2 which is renowned to be called “The Merge” This new development which improve security, scalability, and sustainability of the ethereum network, this was disclosed by ethereum website.
Goldman sachs have taken into consideration the interest of investors in eth, and promised to provide option tradings just has bitcoin does. Top investors, and analysts predicted that ethereum will do double in value this year.
Cardano is a open blockchain platform and decentralized, it can enable the peer-to-peer transactions within it’s internal Cryptocurrency. Cardano is popularly known as Ada, and was founded by the co-founder Charles Hoskinson of Ethereum in 2015.
Cardano has a common goal of being the top most environmentally sustainable blockchain platform. Cardano uses “Ouroboros” as a consensus mechanism in obtaining a correct proof of stake as rejected by the energy-high-proof of work system presently used by Ethereum and Bitcoin.
In November 2021, Cardano had issued 33 billion tokens in active circulation. which nearly got to the coins maximum supply, Which was somehow similar to Bitcoin. ADA token has a permanent supply limit of 45 billion cryptocurrencies which will only exist in a lifetime of a coin.
The Cardano mechanism of proof-of-stake protocol tends to outrule Ethereum till now. Meanwhile Ethereum upgrade will level up the challenge field by Cardano. Recently in the last 24-hours Cardano deployed over 100 smart contract on the network, according to CoinMarketCap.
During the last rally Cardano went for they less the pack, gaining over 40% has reported by Coindesk. However the rally created a massive Cryptocurrency sell-off that initially reduced the market Capitalization by 30%.
Chainlink ranked the 4th long-term coin to invest for long term, it’s a decentralized blockchain network, built on Ethereum. The chainlink network seems to enhance the transfer of tamper-proof data simply from off-chain sources to on-chain smart chainlink has a high-speed network which aids quick data detection, which is equally relevant for short-term price forecast.
Launched in 2014, Chainlink intends to create the world first blockchain oracle network. This help to decrease computational strain on Ethereum mainnet.
Chainlink is the best and advisable for a long term hold because it’s the best cryptocurrencies till now, with it’s present price still thousands of times higher than ICO.
According to Chainlink price forecast, Chainlink still has room for growth. their technical analysis shows that Chainlink will rise in the future.
BENEFITS OF INVESTING CRYPTOCURRENCY FOR A LONG-TERM
Long term investors and traders buy and hold their asset for several months, years and even decades this however grows a great returns, As the case maybe buying an assets and keeping it for long term is definitely a great option.
As the case maybe traders and investors should be aware that investing on cryptocurrency for long-term will exposed your investment on volatility, and various risks, as such wallet hacking.
Buying and holding a cryptocurrency for a long term will help you to beat down inflation in the nearest future thereby creating a path for financial independence. Newbies especially should see it has a hope in cryptocurrency technology, where it gains more users thereby increasing it’s price value in the future. Long-term cryptocurrencies investment helps you to have full control over your portfolio thereby providing you access to your investment with lower fees.
Finally, Diversification in cryptocurrencies for long-term really matters has this can make investor gain wealth, if they simply invest in small amount and diversify in different groups of coin.
IS IT ADVISABLE TO INVEST ON CRYPTOCURRENCIES FOR LONG-TERM?
This has usually been a frequently asked questions by newbies in the crypto space or perhaps by Crypto trader’s. The truth of the matter is that it depends on your reason for investing, if certainly you have a spare money that you feel you want to invest on, for over a decade or two then you can. Reason because investing on cryptocurrency would always and will always remains a great option.