Over 19,000 different types of different crypto coins and tokens are nowadays available in the markets, and investor interest rapidly grows. But when the right mix is picked, then, it can be overwhelming how long-term returns maximize.
We discuss more about the 5 best cryptocurrency to invest for long term benefits in this article.
5 best crypto for long term benefits
- Bitcoin (BTC)
The largest cryptocurrency globally by market cap is Bitcoin. One can use Bitcoin for making purchases both, online and offline. But, most investors are currently availing of Bitcoin as a buy-and-hold asset, as a long term crypto investment. A few industry experts have an opinion that Bitcoin is currently a safer haven than a currency. So, it should find a place in one’s long-term investment portfolio.
- Ethereum (ETH)
By market cap, Ethereum is the second-largest cryptocurrency in the world. While being a cryptocurrency, it is a blockchain platform as well. The token may alternately be used as a store of value, which is also Bitcoin’s strength. It is noteworthy that Etherium has now also emerged as one of the best platforms for decentralized apps that are also known as dApps.
- Cardano (ADA)
Cardano is the third best long term cryptocurrency for investment. Over the past few months gone by, performance of Cardano may not have been too good. But the proof-of-stake protocol is one of the premium benefits that Cardano offers over Etherium. This makes Cardano less expensive, more affordable and more energy efficient.
- Polkadot (DOT)
Polkadot has a market cap of $10 billion and has now become one of the best long term crypto to buy, ever since its launch in 2020. Beyond being a cryptocurrency, Polkadot is also a blockchain network that facilitates developers to come up with innovative systems that are decentralized.
- Chainlink (LINK)
Chainlink was launched in 2014 and as an Etherium-based network; it offers real-time data from off-blockchain to on-blockchain smart contracts. This is accomplished through oracles and nodes. Chainlink aims to come up with the world’s first blockchain Oracle network.
Why should one invest in cryptocurrencies over the long term?
As digital money, cryptocurrencies do not feature a central management system in forms such as a government. While it is possible to buy services or goods using cryptocurrencies, numerous investors prefer to invest in cryptocurrencies as a long-term alternative.
For a long-term investment in cryptocurrencies to be profitable, one should go for an option whose value will appreciate over time. Such a choice will be the best match for your investment goals.
A long-term investor is characteristically going to hold his investments for several years at a stretch, in the line of decades. This helps their returns grow. So, if one has the opinion that blockchain technology withholds a great potential for the future, one should be investing in cryptocurrencies over the long term.
One should, nevertheless, keep in mind that when one invests in cryptocurrencies, the investments are exposed to numerous risks and volatility. One such example is wallet hacking. So, one should have a fair bit of an idea of where one’s hard-earned money goes.
