With increasing numbers of investors, the demand for high-earning cryptocurrencies is also increasing massively. Starting from the trendsetter, Bitcoin to, one of the newest Shiba Inu, there’s always something new on the plate to reconsider. Thus, top investors are investing in several cryptocurrencies that would gain them return within a different time frame.
When it comes to investing in cryptocurrencies on a long-term basis, there is a lot to consider.
Top cryptocurrencies to consider for long term investment
Despite functioning in a volatile market, cryptocurrencies could be one of the efficient alternatives for long-term investments. Over years, it was proven that cryptocurrencies can gain a much higher return when held for more than five years as a result of market adoption and value increment. Additionally, buying once and holding for years reduces the repetitive trading costs and also minimizes the risk of losing profitability of the upscaling market.
Discussed below are the top cryptocurrencies one should look up to for long-term return:
Bitcoin: Bitcoin or BTC is the oldest and the largest cryptocurrency in the world, and also the most trusted one. From being priced at 6.65 INR in 2010, today Bitcoin costs approximately around 31, 00,000 INR. The optimum availability enables Bitcoin to become the best-held cryptocurrency for long-term investment.
Ethereum: Also called ETH is the second biggest in the value list of cryptocurrencies. It is primarily an open-source blockchain platform that runs its digital currency, known as Ether. ETH also shares its platform with other cryptocurrencies and helps the implementation of smart contracts. Over years, Ether has jumped from $411 to $4700, which is approximately 42, 000% growth. Currently, ETH holds a market capitalization of $508.06 billion.
Binance Coin: Binance coins are those cryptocurrencies that can be feasibly traded as a payment option on the Binance platform. Thus, making it among the top crypto exchanges across the globe. Binance coins can be also traded to purchase ETH and Bitcoins. The present market capital of Binance Coins stands at $96.75 billion.
Cardona: Cordona is popular among traders because of its proof-of-stake authentication. Its smart built technology helps in minimizing the energy utilization and eliminating the impacts caused on the environment due to problem-solving metrics transaction verification emitted by big shot digital exchange platforms. It further takes part in the execution of smart contracts and runs a decentralized in-house cryptocurrency called ADA. With the above-mentioned feature, whale investors consider Cardona as one of the top cryptocurrencies for long-term investments. The current market capitalization of Cardona is reported to be 38.55 billion.
Uniswap: Uniswap or UNI is said to be the top digital asset on the blockchain management of Ehthereum. Unisawp can also be traded for cryptocurrency without any mandatory requisite to registration on the crypto exchange. One can directly buy cryptocurrencies by their Ethereum wallet, hassle-free.
Tether: It is a rare cryptocurrency that is supported by the fiat currencies like Euro and US Dollars. People who are new to cryptocurrencies or are skeptical while investing can start with Tether because it is one of the stable digital coins which manages to grow within a volatile market as well. The present value of Tether is approximately $76.06 billion.
XRP: XRP is the most used platform for exchanges of fiat and digital currencies. It was created by Ripple, which itself is a payment technology company. It can also be facilitated for trading cryptocurrencies. The smooth processing feature has gained it unique investors which has further helped it grow about 16, 666% over years. The market value of XRP is reported to be $38.55 billion.
Dogecoin: Dogecoin is one of the trending cryptocurrencies on social media because of the business tycoon and celebrities like Elon Musk. Despite starting as a humorous topic, over social media networks, it has gained popularity potentially, making it another ideal choice of cryptocurrency for long-term investments. Additionally, it doesn’t have to limit its production like BTC, which as a result can devalue the asset when demand exceed the supply. At present, the market capital of Dogecoin has risen to $23.18 billion.
The above-mentioned names are the potential cryptocurrencies that one can consider investing in for a long-term return. In this volatile market, when no one can assure maximum security while trading, a platform like ImmediateProfit.app is providing end-to-end secure trading options. Whichever crypto one chooses to invest in, it is crucial to read them in and out and their related risks to gain the maximum return out of the investment.