Best Cryptocurrencies To Buy

CryptocurrencyJune 22, 2022

Since there are more than 20,000 different types of cryptocurrency coins and tokens on the market, there is a rapid increase in investor interest. Choosing the right mix for your long-term investment goals is challenging in any situation. Doing so during a bear market for cryptocurrencies, commonly known as “crypto winter,” is even harder.

In case you are wondering which are the best long-term cryptocurrencies to invest in this year, continue reading. 

5 Best Long-Term Cryptocurrencies

The following are the five cryptocurrencies with the highest potential for long-term capital gains. 

1. Bitcoin (BTC) 

According to market capitalization, Bitcoin is the largest cryptocurrency globally. This cryptocurrency can be used for online and offline purchases, or you can, like the majority of bitcoin investors, consider it a buy-and-hold asset as part of your investment portfolio. In recent years, it has grown into a safe-haven investment rather than a currency so that you can include it in your long-term portfolio of cryptocurrencies.

2. Ethereum (ETH) 

Market capitalization-wise, ETH ranks second largest among cryptocurrencies. It refers to both a blockchain platform and a native cryptocurrency that runs on the platform. Ethereum can also be used as a store of value, one of the strengths of bitcoin, but it has also gained popularity as a platform for decentralized apps, commonly known as dApps.

This platform has become a favorite among developers due to the support it offers for applications like smart contracts, in which a function is automatically executed when certain conditions are met.

Ethereum is currently undergoing an upgrade. It was originally called Eth2, now known internally as The Merge, resulting in improved scalability, stability, and overall sustainability of the network, as described on the Ethereum website.

3. Cardano (ADA)

The Cardano cryptocurrency is another long-term investment. Even though the coin’s performance during the bear market has been shambolic, in a tweet, founder Charles Hoskinson wrote, “Cardano could cure cancer … and we’d fall.” Cardano offers one major advantage over Ethereum: it’s a proof-of-stake network. 

Unlike Ethereum, which currently uses proof-of-work to verify transactions and ensure network integrity, Cardano uses proof-of-stake to accomplish the same function while being much quicker, cheaper, and more power-efficient.

4. Polkadot (DOT) 

Based on its market capitalization of over $7.52 billion, Polkadot has proved to be one of the best cryptos to invest in since it was launched in 2020. Besides being a cryptocurrency, it is also a blockchain platform that allows developers to create innovative, decentralized platforms.

Through Polkadot, various independent blockchains can be connected into a single unified blockchain in addition to being able to create new chains. In addition, the integration enables users to access the network’s proof-of-stake verification service for security and transactions, making it easier to move digital assets such as apps and tokens between blockchains. 

Even though Polkadot competes with Ethereum and Cardano, the fact that it entered the smart contract market early gives it an advantage some analysts believe it will maintain.

5. Chainlink (LINK)

Chainlink ranks fifth among the best long-term investments in cryptocurrencies. Since its launch in 2014, Ethereum has been providing real-time information about off-blockchain and on-blockchain smart contracts through its nodes and oracles. Among its missions, according to Securities.io, is to build a blockchain oracle network, which will be the first of its kind.

Would you like to know about the countries that have no bitcoin tax? Read our blog to learn.

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