In less than a decade, the world of cryptocurrency has witnessed exponential growth. Many new projects have launched, and even more investors have taken note of the blockchain space. But as we begin to enter the fourth quarter of this year, it’s important to remember that there are many ups and downs during the course of any bull market.
As such, making informed decisions on where to invest can be challenging. With so many different options in front of you, investing in cryptocurrency could seem very overwhelming. And before you invest, make sure to visit Ledger Live to learn the importance of employing advanced encryption and NFT security in any cryptocurrency transaction.
Bitcoin — Steadfast and reliable
First and foremost, you must look at the track record of a specific cryptocurrency before deciding if it’s a good fit for your portfolio. Bitcoin, as the original blockchain network, has been around since 2008. Therefore, it definitely has the track record best long term crypto investment would be searching for. As the most established cryptocurrency in the market, Bitcoin is known for its security, reliability, and network effects. In other words, there’s a reason why Bitcoin has the largest market share in the world of crypto. Basically, it means that most users are choosing Bitcoin over altcoins as their digital asset of choice.
Ethereum — Smart Contracts and Dapps
In addition to being the world’s leading blockchain network, Bitcoin is also known for the fact that transactions are not reversible. However, Ethereum’s network removes this shortcoming through the use of smart contracts. This is why many businesses have turned to Ethereum as their network of choice. Ethereum’s native token, Ether, is also an attractive investment opportunity because of the strong use case behind it.
Ripple — Payments can now be done instantly
While Bitcoin continues to be the go-to digital asset for payments, XRP has been nipping at its heels for some time now. Ripple’s team of developers have developed an efficient, decentralized payment network. You see, the Ripple blockchain network allows for nearly instantaneous cross-border payments. This is due to the fact that the network is designed to process 1,500 transactions per second at the very least.
Litecoin — A Bitcoin fork with superior technology
Like Ethereum, Litecoin is also a fork of the Bitcoin network. However, it is one of the few forks that managed to stand out in the long term. As with most altcoins, Litecoin’s price has also increased significantly over the years. This is due to the fact that Litecoin’s developers have implemented new technologies to improve the network’s scalability and security.
Neo — Also known as “Chinese Ethereum”
Lastly, there is Neo – also known as “Chinese Ethereum.” To be honest, it’s difficult to classify Neo as either a cryptocurrency or a blockchain. However, even though it is difficult to categorize, it is definitely a good investment. Neo is often referred to as the “Ethereum of China” because it shares many of the same features that Ethereum has.
As you can see, each of these long-term crypto investments has its own merits and advantages. Therefore, the choice is ultimately up to you. If you’re looking to invest in a digital asset that is likely to rise in the long term, these are some of the best crypto investments you should consider. For sure, the blockchain space is still in its infancy, and these are only the first steps to what is sure to be an exciting journey.