Long-term investment in cryptocurrencies is recommended when you expect the prices to increase over time. These investments last for at least 6 months and many such crypto investors plan to hold for many years. They can also be made in parts as part of a strategy. Whatever mode of entry you may choose, it is important to select the ideal cryptos for long-term results.
The knowledge of the right cryptos that have yielded excellent returns over the years can help you make the right choice. Here are 10 of the most recommended cryptocurrencies for considering long-term investments.
1. Bitcoin (BTC)
Bitcoin is a decentralized cryptocurrency and is regarded as the original crypto. It has a current market cap of $1 trillion and recently touched a peak price of $68,000. Bitcoin runs on a blockchain distributed across a network of thousands of computer systems. Visit the bitcoin-profit.cloud for more information on bitcoin trading.
2. Ethereum (ETH)
Ethereum is also a decentralized, open-source blockchain with its native crypto, Ether. It has a current market cap hovering around $500 billion. Interestingly, Ethereum also acts as a platform for many other cryptocurrencies and for executing decentralized smart contracts. The digital coin touched a peak price of $4,850 recently has promising predictions for the future.
3. Binance Coin
The Binance Coin is also a promising long-term investment option for crypto investors. It is an interesting coin in that it can be used for both trading and paying fees on the Binance exchange.
Binance is the largest cryptocurrency exchange and launched its coin in 2017. It has a current market cap of around $90 billion and is one of the best options for investment. The Binance Coin has multiple utilities, which makes it more stable crypto to invest in. It is used for:
- Payment processing
- Trading
- Booking travel arrangements
It can also be traded/exchanged for other digital currencies including Bitcoin and Ethereum.
4. Solana
Solana is another cryptocurrency recommended for long-term holding. It has risen rapidly in value during its short span of existence. It was originally created to power DApps, decentralized finance (DeFi) applications, and smart contracts. Its mechanism adds greater security and speed to transaction processing. The coin has recorded a peak price of $259.03 so far and has a current market cap of around $64 billion.
5. Tether (USDT)
Tether (USDT) is also a blockchain-based crypto, but is slightly different from other coins mentioned above. Its tokens in circulation are backed by fiat currencies including the U.S. dollar and Euro. It is a stablecoin and brings you greater stability in terms of returns. Based on its design, its value is meant to be constant compared to other cryptos.
Tether is widely popular with investors that seek to avoid the extreme volatility that is common to other cryptos. The coin has a market cap of around $76 billion and has touched a peak price of $1.32. Its low price makes it an easy investment option to enter.
6. Cardano
Cardano (ADA) is known for its more environment-friendly approach to transaction processing. It has a market cap of around $45 billion and has touched an all-time high price of $2.9676. It stands out for its proof-of-stake (PoS) validation system. It has recorded a growth of 7,850% since its creation.
Some of the key features of Cardano are as follows:
- Reduced energy usage
- Eliminates problem-solving component of transaction verification
- Enables decentralized applications and smart contracts
Its low value and exceptional growth make it a good long-term crypto investment option.
7. Dogecoin
Dogecoin is a meme coin that has gained widespread popularity due to celebrity association. It was conceptualized as a joke in 2013 and has since grown rapidly to become a prominent cryptocurrency. It is backed by a dedicated community and has a current market cap in the vicinity of $23 billion. It is different from most other cryptos in that it has no limitation on how many coins can be created. This coin has had an all-time high price of $0.7376 and is an easier crypto to enter.
There are a few more mentions including XRP, USDC, and Polkadot. When selecting the most rewarding cryptocurrency for long-term returns, it is recommended to consider a number of factors. This includes utility value, market share, transaction volume, market news, and technology development. The above-mentioned cryptos tick most of the right boxes in terms of these factors.
