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Unlike investing in stocks, investing in cryptocurrencies is far more ethereal and far less regulated.
If you’re bullish on crypto after Bitcoin’s (BTC-USD) recent resurgence in popularity, you might be wondering what are the best cryptos to buy. Specifically, what are the best cryptocurrency projects to get involved in now with the hope that in a decade their adoption will be widespread enough to generate outstanding returns?
Unlike investing in stocks, investing in cryptocurrencies is far more ethereal and far less regulated. After all, the first American stock exchange began in the year 1792. Bitcoin became publicly available in 2009. Therefore, the vast majority of people are still unclear about the concept of buying cryptocurrencies. Does investing in Bitcoin mean Bitcoin will become the legal tender of the future? Or is it just a way to multiply your hard-earned money?
Either way, the best cryptos to buy and hold for a decade are the most legitimate ones. They are the ones who have already experienced attempts at adoption and integration into various financial systems.
Bitcoin (BTC-USD)
Source: Sittipong Phokawattana / Shutterstock.com
Let’s start with the already mentioned Bitcoin: There is currently no cryptocurrency more likely to survive in the future than BTC. The reason? It has been around the longest and essentially launched the industry, has the highest trading volume and market capitalization, and is the most widely used and accepted form of payment worldwide. Some governments, like El Salvador, have even experimented with making it part of their currency structures.
Beyond these factors, the coin’s success has inspired an entire industry of Bitcoin mining companies that are constantly building computer farms to decrypt encryption algorithms and promote circulation of the coin.
However, investing in Bitcoin cannot be compared to investing in stocks. This is less about the future value of a company and more about the introduction of a highly technical technology. Therefore, timing the market with Bitcoin is unlikely to produce successful results. Instead, view the money invested as a long-term gamble and try to buy when the price of Bitcoin is far lower than its all-time high – not like now.
Ethereum (ETH-USD)
Source: Shutterstock
If Bitcoin seems too expensive to be worth it, ether (ETH-USD) is always a second, cheaper investment option that you can hold on to. That is the main reason why it has the name “world’s largest altcoin” because its mission is to offer a more ecosystem-based alternative to Bitcoin.
Therefore, the best long-term investors in ETH are those who are confident in the prospects of blockchain technology. That’s because ETH’s biggest value proposition is not that it is an alternative to fiat currency, but rather that it is an open-source blockchain. Therefore, developers are eager to advance blockchain technology and earn ETH coins which can turn into dollars as their value increases.
ETH is also a major contributor to the concept of decentralized finance, which aims to bypass traditional banking and enable large-scale person-to-person transactions via a blockchain. So if you are optimistic about blockchains and decentralized finance, ETH could be among the best alternative cryptos to buy into and hold for the next decade.
Binance (BNB-USD)
Source: Iryna Budanova / Shutterstock.com
A coin directly tied to the performance of the largest cryptocurrency exchange in the world. Binance (BNB-USD) is a more complex piece than the other two on this list. Because buying and holding Binance for the next decade means being sure of its value as an intermediate currency and having confidence in the currency longevity of the Binance exchange.
As the Binance exchange becomes more popular, the theoretical usage and trading frequency of BNB could also increase. This would in turn increase its value and ultimate purchasing power. For investors, this means they can either use BNB as a means of storing valuable money or have an efficient way to trade against other cryptos on the Binance platform.
Ultimately, there is a reason why BNB is currently the fourth cryptocurrency by market capitalization, and it comes down to the overall popularity and trust that Binance has gained among the emerging crypto community.
On the date of publication, Viktor Zarev did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.
Viktor Zarev is a scientist, researcher and author who specializes in explaining the complex world of technology stocks through accuracy and understanding.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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