The crypto market may still be in its infancy, according to certain experts, but it has gained ample momentum in recent times. No surprises then why it has successfully been able to catch the attention of millennial investors. Both institutional and retail investors are keen to buy and sell cryptos these days. Of the many cryptocurrencies out there, most people know of the Bitcoin and Ethereum. But do you know there are quite a few others which have steadily topped the market cap charts and can be considered fit for long-term investment purposes?
Top long-term cryptocurrency investment options for you:
- Bitcoin: This is rightly called the “king of cryptos” and has been leading from the front since its launch in 2009 by Satoshi Nakamoto. The coin has experienced many surges and crashes and has come back stronger than ever now. The very fact that it has been around for more than a decade makes it a perfect choice for long-term investment. The best part is you can even buy a fraction of the Bitcoin, instead of a whole Bitcoin. When you consider trading Bitcoin with software, it can analyze market data more accurately and help you make more informed trading decisions than human traders, which can lead to better profit.
- Ethereum: This continues to be second to Bitcoin in terms of market cap making it a stale long-term investment choice. It backs the decentralized finance industry and introduced the innovative smart contracts. While Ethereum continues to suffer from scalability problems, high fees, and network congestion, its popularity remains intact.
- Cardano (ADA): This new crypto may be risky but a good option for new investors interested in the workings of the blockchain. It enjoys partnerships in many African countries where it is being used for recording student records on blockchains. Cardano is decentralized blockchain using a native crypto and embraces the proof-of-stake validation.
- Ripple (XRP) : It came about in 2013 and is currently one of the biggest crypto asset projects with a significant market cap. Ripple has been used for cross-border payment by more than 250 banks and offers great transaction processing times, using nominal fees.
- Dogecoin (DOGE): A meme coin, this crypto is the largest amongst those coins inspired by memes. It has a market cap of almost $32 billion and is an open-source P2P cryptocurrency. It has a high mining rate ever since its launch and in 2021, got much encouragement from Elon Musk and Reddit users.
- Binance Coin (BNB): There is a cap on the token number; it is 200 million for the BNB. It sticks to a routine of “burning: most of its currency every quarter. This is why it continues to grow in value.
- Shiba Inu: It soared recently to become 11th amongst cryptocurrencies in terms of market cap. It was created in 2020 anonymously by someone called Ryoshi and has attained an all-time high in recent times. In September, it spiked almost 40% after Coinbase declared its customers could send, receive, trade, and store SHIB on the crypto platform.
- Polkadot (DOT): This crypto facilitates cross-blockchain transfers for assets and data. It is like a bridge for networks; as such, many applications on this work also on Bitcoin and Ethereum. Since Polkadot is scalable and works fast, it is worth investing in for the long haul.
- Tether (USDT): Pegged to USD, this blockchain-based crypto is backed by fiat currencies that are stored by banks.
Consider any of these afore-mentioned coins for long-term investments and you are not likely to be disappointed with your decision.