Cryptocurrencies are gaining a lot of prominences these days. Much of the interest in digital currencies is to trade for profit, with speculators at times driving prices skyward. Most of the big tech companies such as Apple, Google, Samsung, Facebook, PayPal, and Deutsche Bank have recently included cryptocurrencies in their long-term strategic plans. For crypto investors, it is imperative to examine cryptos from several perspectives, including that of investors, banks, and governments, to consider the fundamental stability of these digital currencies. This article lists the top 10 cryptocurrencies to buy and hold forever.
Cardano is known for its proof-of-stake validation. It decreases the energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. It also enables smart contracts and decentralized applications which are powered by ADA, which is a native coin of Cardano. It is one of the top cryptocurrencies that has witnessed a growth of about 7,850% since its inception.
Chainlink's decentralized oracle network offers tamper-proof inputs and outputs for complex smart contracts on any blockchain. The crypto integrates third-party data into smart contracts. While smart contracts on ether respond to other asset rates, global events, and API calls, smart contracts in LINK are made smarter as it only responds to activities on its network. It is one of the primary data sources used to feed information to Defi applications.
XRP was created by the same founders as Ripple, which is a digital technology and payment processing company. XRP is used to facilitate the exchange of different currency types even including the top cryptocurrencies and fiat currencies. Since 2017, it grew up to 16,666% until this November.
Ethereum is a decentralized open-source blockchain system that features its cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. ETH has been at the forefront of a blockchain smart contract platform. The price of ETH has witnessed tremendous growth of about US411 to over US$4,700 that is about 42,000%. It is one of the top 10 cryptocurrencies to invest and hold forever in 2022.
Bitcoin is a decentralized cryptocurrency that was created in 2009 by Satoshi Nakamoto, BTC is the first and original cryptocurrency. As with top cryptocurrencies, BTC runs on a blockchain, or a ledger logging transaction distributed across a network of thousands of computers. Bitcoin price was over US$57,000 last November, which is a growth of about 11,400%. It is one of the top 10 cryptocurrencies to buy and hold forever.
The best cryptocurrencies may use any number of blockchains, Polkadot aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. Between September 2020 and November, it grew about 1,300% from US$2.93 to US$38.61.
Uniswap is a crypto exchange protocol that operates on a decentralized basis. Using smart contracts, the protocol allows for automated transactions between cryptocurrency tokens on the ETH blockchain. It is one of the best cryptocurrencies to buy in the next year and hold it forever.
The Binance Coin is a form of cryptocurrency that can be used to trade as well as pay fees on Binance, one of the largest crypto exchanges in the world. The coin was launched in 2017 and can be used for trading, payment processing, or even booking travel arrangements. Binance Coins can be traded and exchanged for other top cryptocurrencies even such as ETH and BTC.
Tether is not like the cryptocurrency, USDT is a stable coin that is backed by fiat currencies such as U.S dollars and the Euro. Tether's value is supposed to be constant with the other crypto currencies and it is favored by investors who are wary of the extreme volatility of other coins.
Dogecoin has been a hot topic thanks to celebrities and billionaires like Elon Musk. Famously started as a joke in 2013, Dogecoin rapidly became a prominent cryptocurrency option, thanks to a dedicated community and creative memes. Unlike many other cryptos, such as Bitcoin, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.