Best Cryptocurrency To Invest In 2021 For Long-Term – Everyone’s talking cryptocurrency and you are curious and want to know about it in order to invest in it for the long haul. You are welcome to read here. To satisfy your curiosity and give you the answers you need in no time, you can follow us as we take you through the best cryptocurrency to invest in 2021 for long term.
Investing in cryptocurrency for long-term can be quite a laudable investment as long as you know where to invest and know how to go about it. This means that you have review some of the notable cryptocurrencies as well as their characteristics to find out which one will be the best fit for you.
Since we cannot decide for you, we can only suggest by helping you weigh the pros and cons carefully before you take a dip.
But first, let’s take you through some of things you have to look for in a particular cryptocurrency before you invest in it:
Past Record
You have to carefully analyze how the company you want to buy into has performed over the years in business. Even though the cryptocurrency market is a highly volatile one, you will still find some clues that will help you prospect how its going to turn out in the near future.
Experience
The number of years that the cryptocurrency has been in existence also counts, when you want to invest. Even though new cryptocurrencies are not entirely ruled out, but having historical data for comparison also counts. This is because you will be able to see how the company has performed up until now.
Acceptability
The number of people investing in cryptocurrency is also a factor to be considered when you are deciding on where to invest. If you see a cryptocurrency that has a high adoption rate it means the cryptocurrency has better liquidity. Thus trading, selling, or spending will be a lot easier in the future.
Technology
This is one very important factor to consider when trying to decide on where to make investment. You should check out how the platform compares to others when it comes to usability and security. You have to check the speed at which the transactions occur, and how the network handles traffic.
You also have to ensure that you invest in a place where your investment is secure. Most cryptocurrencies make use of blockchain technology, to make all their transactions transparent and easy to track.
So come along with us as we take through the world of some of the carefully analyzed cryptocurrencies in the market that you can invest in 2021 for long-term.
Best Cryptocurrency To Invest In 2021 For Long-Term
Ripple (XRP)
Since the Ripple company unveiled the XRP token, it has seen lots of adoption from investors. This is because Ripples distinguishes itself from other cryptocurrencies by offering users access to make international transactions. With Ripple, International money transfers will only take you seconds to complete.
Additionally, Ripple has contracts with reputable banks around the globe. Thus the more contract the platform has, the more accessible the Ripple cryptocurrency becomes to adopters.
However you should note this:
Even though Ripple showed promise in 2017 when its value scaled 36,000%, when you critically look at the fact. The percentage represented growing to a $2.40 stock value it’s less impressive.
Binance Coin
Binance reached its peak in 2017. Right from that time, Binance Coin has enjoyed a slow but consistent rise. This brought it to the limelight in 2017 after it was proven to be one of the more stable investment options which pose fewer risks.
However you should note this:
Some investors are still concerned about Binance Coin potential security issues. However, Binance Coin is committed to maintaining a strong blockchain.
Litecoin
Litecoin was established in 2011 and is said to completing transactions four times faster than bitcoin. Litecoin in 2017, was the first cryptocurrency that completed a Lightning Network transaction. If you are looking for a cryptocurrency to invest in 2021 for long term, Litecoin may be one of the top choices you can make.
However you should note this:
Litecoin and other cryptocurrencies are closely linked to bitcoin. As such, their value tends to fluctuate along with that of Bitcoin. But if you want a cryptocurrency that has a lesser volatility rate, you should try Litecoin.
Ethereum (ETH)
With the Ethereum network developers can create their own cryptocurrency. Ethereum is ahead of other competitors and is different from Bitcoin because it is not only a cryptocurrency. Ethereum is considered to be next big thing in the world of cryptocurrency.
However you should note this:
Ethereum only has one lane for conducting transactions even though it uses blockchain. This can delay transactions.
Also Ethereum suffered a hack in 2016 which led to over $60 billion Ether dollars lost because of a flaw in the Ethereum wallet.
Cardano
With the Cardano network, it takes less energy to complete a transaction as is custom with other larger networks. This makes transactions faster and cheaper and makes the Cardano network more appealing to investors. According to Cardano, its network is more adaptable and secure and it consistently improves its development to outsmart hackers.
However you should note this:
Cardano has a good network but even at that, it still can’t compete with larger cryptocurrencies. When it comes to being adopted, Cardano has fewer adopters which means fewer developers. Thus most investors do not find this appealing enough.
Chainlink
The appealing price of Chainlink, makes it quite unique from other cryptocurrencies. Even though its shares are affordable, you can’t say it’s penny stocks. Investors invest in Chainlink because it has proven that it can increase in value, and still has a lot of room for growth. Chainlink is available for trading on Coinbase, one of the world’s largest and reputable cryptocurrency apps.
However you should not this:
Even though Chainlink is still above tons of other cryptocurrencies, when it comes to volume and market cap, it is lower than other cryptocurrencies.
