It can be challenging to choose which cryptocurrency to invest in given that there are currently about 16,000 in use. In 2021, popular cryptocurrencies like Bitcoin and Ethereum saw numerous highs and lows. Overall, 2021 was a great year for digital currencies, strengthening the case for their inclusion in the portfolios of more risk-averse investors. We’ll examine certain cryptocurrencies with long-term potential in this article and help you with the best options for cryptocurrency investment.
1. Bitcoin (BTC)
After being around the longest of all cryptocurrencies, Bitcoin is the most well-known. Although other cryptocurrencies have recently eclipsed Bitcoin in popularity, Bitcoin has continued to be widely used.
The fact that Bitcoin is widely accepted around the world is one of its key advantages. Bitcoin is a wise cryptocurrency investment because so many companies now accept it as payment.
2. Ethereum (ETH)
Similar to Bitcoin, cloud mining can increase the value of long-term investments in ETH. Video cards are used to mine cryptocurrencies, and as the cryptocurrency market has been trending bullishly over the past year, their value has surged. As a result, home mining for Ether for new investors who are unfamiliar with the technical nuances of a digital asset is challenging and expensive. Our Hashmart platform, which has positive online reviews, can help you resolve this issue.
3. Dogecoin (DOGE)
Cardano uses a proof-of-stake consensus process at its foundation rather than Bitcoin’s proof-of-work model, making transactions far less energy-intensive. Cardano now has a competitive advantage over Bitcoin in terms of being a green cryptocurrency.
The Alonzo hard fork gave the blockchain support for smart contracts in September 2021. On Cardano, users can now create and use smart contracts, enabling the development of native decentralized applications (DApps).
4. Litecoin (LTC)
You can convert cryptocurrency into LTC and back, purchase LTC with a MasterCard or Visa (via both MoonPay and Simplex providers), and download and install the Litecoin Freewallet mobile applications for Android and iOS. Additionally, you can purchase many hundred gift cards using LTC.
While Bitcoin is known as the “gold of the crypto world,” LTC is often compared to silver. LTC is the 12th largest cryptocurrency and has transaction speeds that are quicker than those of BTC. One of the most popular cryptocurrency payment methods is Litecoin. All evidence points to this currency’s continued dominance at the top of the crypto market and why its a good option for cryptocurrency investment.
You can use MasterCard or Visa to purchase EOS, exchange other cryptocurrencies for EOS and back, and use EOS to purchase several hundred gift cards. Freewallet offers a single-currency EOS app for both the iOS and Android operating systems. EOS aims to offer one of the most elaborate platforms for DAPPs while competing with Ethereum.
One of the riskiest investment strategies is still investing in cryptocurrency. Currently, the cryptocurrency market is in the midst of another bull run phase, but it continues to be highly reliant on the global economy. Crypto investments won’t always help entirely safeguard cash in a new economic catastrophe. Consider all the dangers associated with investing in digital assets and take a wise approach to your decisions.