Top 5 Crypto Currencies To Buy And Hold As Investment
What is cryptocurrency?
A cryptocurrency is a form of digital money that is not controlled by a central authority such as the government. It is instead based on blockchain technology, with Bitcoin being the most widely used. Investors are recognizing them as valuable for not only short-term earnings but also for long-time investment. But which ones should you put your money into? To make things easier for you, we’ll go over some crypto coins that have consistently topped the market cap charts. These could be good long-term investment options due to their relative stability.
Find out about the top cryptocurrencies to make long-term investment.
1. Bitcoin (BTC)
Established in 2008 by Satoshi Nakamoto, Bitcoin is decentralized digital money that may be transmitted directly from one user to another on the peer-to-peer bitcoin network. Cryptography is used by network nodes to validate transactions, which are subsequently recorded in a blockchain, a public distributed ledger. Despite the volatility of the price of bitcoin, it remains dominant in the crypto market. Its valuation keeps on increasing with more inventors investing in it. The most vital factor behind its prized value is the maximum limit of its coins which is 21 million.
Market cap: Over $856 billion.
2. Ethereum (ETH)
Ethereum is a decentralized digital platform that enables the creation and execution of smart contracts without any need for third-party downtime, fraud, control, or interference. Ethereum is a permission less, non-hierarchical collection of servers (nodes) that produce and reach consensus on an ever-growing network of “blocks,” or bunches of transactions, known as the blockchain.
Ethereum or ether is almost always in competition with Bitcoin. Its share in the crypto market recently rose from 18 percent to 20 percent.
Market cap: Over $357 billion.
3. Binance Coin (BNB)
BNB is an ERC20 token based on Ethereum that was developed by Binance, a major cryptocurrency exchange. This currency can be used to pay a commission for purchases on the exchange. A total of 200 million tokens were manufactured for the currency. As per the Whitepaper, Binance plans to use 20% of earnings each quarter to purchase back and burn BNB until 50% of the total BNB supply (100 M) has been burned.
Market cap: Over $70 billion.
4. Cardano (ADA)
Cardano is a cryptocurrency system and open-sourced project aiming to build an open public blockchain for payment systems. Cardano’s internal coin is called Ada.
Cardano is also a decentralized blockchain platform that uses a native cryptocurrency. It enables secure peer-to-peer transactions. There are plans to enable smart contracts on it very soon.
Market cap: Over $69 billion.
5. Dogecoin (DOGE)
Dogecoin was created as a joke by software developers Billy Markus and Jackson Palmer to mock the booming cryptocurrency market at the time. On May 9, 2021, SpaceX launched the first cryptocurrency-funded space mission, a Dogecoin-funded ridesharing flight to the Moon. The coin has earned a high mining rate since its inception. It’s still on the speculative stage and hasn’t crossed the dollar mark. However, it has a larger circulation and unlimited capacity to mine more. Market cap: Over $40 billion.
