The debates are still raging over whether cryptocurrencies should be held for the short-term or the long-term, especially in a bearish market situation such as we have today.
But, experts and industry analysts have consistently argued that holding cryptocurrencies for the long term offers more significant prospects. This is largely owing to the fact that cryptocurrencies are backed up by viable utility surges and survive the test of time, hence, giving investors long-term profits.
According to Coinmarkecap, there are over 20,000 cryptocurrencies on the market today. And, some experts have argues that as the crypto ecosystem continues to mature with time, 90% of these coins will totally crash and go into extinction.
Nevertheless, the few that will survive the apocalypse will experience exponential growth, making long-term holders very rich. As exemplified by the early believers of utility cryptos like Ether, BNB and Bitcoin in their early days.
In this post, we will take a look at four cryptocurrencies that we believe are going to survive long term and will most likely offer the best prospects for you when the dust settles.
Here we go.
Binance Coin ($BNB)
$BNB is the native token of Binance, the largest crypto exchange in the world by trading volume.
Binance has a smart contract network which is competing with Ethereum’s technology. This has made the token which is used for day-to-day transactions on the platform the third largest crypto by market cap, barring the stablecoins in the top five.
The reason the BNB tops our list of coins to keep for the long term is that although Binance began operations in 2017, it has one of the most successful smart contract blockchain networks. The platform has also added many crypto technologies such as Dapps, DeFi protocols, decentralised exchanges, and Web3 apps and programs.
The Binance ecosystem also works tirelessly to improve its network and we expect this to continue with the platform’s inflow of users. You should add $BNB to your portfolio of long-term cryptos.
Read also: Want to invest in the Metaverse? Here are 3 coins to consider
The Polkadot blockchain is considered an Ethereum alternative. It offers parachains – a series of connected blockchains running alongside to speed up transactions. Its token, $DOT, just sits outside the top ten coins with the largest market cap.
The reason $DOT should make it to your list of long-term cryptocurrencies is that experts see Polkadot as an inevitable progression in the blockchain industry and the next step in improving blockchain technology.
$MATIC, the native token of the Polygon network, is one of the most popular cryptocurrencies in the market. Also, the platform is the most successful Layer-2 scaling protocol for Ethereum.
In August, Polygon announced in a press release that it launched Polygon zkEVM, “the first Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools, and wallets.” This program performs well through a type of cryptography called zero-knowledge proofs, which helps decrease transaction costs.
The ecosystem has more than 19,000 Dapps on its blockchain platform. With the continued growth of acceptance and usability, $MATIC is one of the best cryptos to hold for the long term.
Ethereum is the second largest cryptocurrency after Bitcoin and is currently the most popular blockchain. The ecosystem recently completed a monumental upgrade called ‘The Merge’ which moved the blockchain from a proof-of-work consensus mechanism into proof-of-stake.
Related post: Merge will improve Ethereum’s transaction speed
Although some investors are disappointed that a price surge did not follow the update which was completed 10 days ago, those with a long-term view are not moved.
Ethereum is arguably the most robust smart contract network today. With thousands of projects which utilise the network, Ethereum is expected to continue its great trajectory.
Some experts even predict the DeFi token overtaking bitcoin in market price and capitalisation later in the future. It should be in your long-term portfolio.
It might come as a bit of a surprise to you that Bitcoin is not on the list of cryptos. However, the flagship digital asset remains by far the best long-term investment. It is widely accepted as a store of value and hedge against traditional cryptocurrencies. Many businesses worldwide accept Bitcoin as payment, making the crypto asset an excellent long-term investment.
A downside is that bitcoin is believed to have ‘boomed’ already. With a single bitcoin worth nearly $20,000, the return on investment might not be worth it. But, sure, it can still make it into your portfolio of long-term investment.
However, it is important to do your research and analysis before investing in any coin. And, always remember not to invest more than you can afford to lose.
This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
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