If you are looking to buy cryptocurrencies and wondering which cryptocurrency will turn out to be a profitable investment, you’ve landed in the right place as below we highlight the 3 best cryptocurrencies to buy for the long term.
As cryptocurrencies grow, people are developing an interest in the crypto market. The old debate on how viable and profitable cryptocurrencies can be has gradually phased out. As the assets are becoming more acceptable for daily transactions, more people are embracing them.
Currently, there are lots of cryptocurrencies trending in the market. Most cryptocurrencies are gaining value very fast and can boost your investment plans on a long-term basis. Some of these top assets have a market cap that runs into billions of dollars and we will concentrate on the larger cap end of the market.
But it may be confusing to try and pick a particular cryptocurrency to invest in, given the volatility of the crypto market. The best option to consider as an investor is to diversify your portfolio of digital assets.
In this article, we picked the top 3 cryptocurrencies to buy for long-term price growth. Our categorization is based on the asset’s market capitalization, price trend, and future predictions by experts.
3 Best Cryptocurrencies to Buy For Long-Term Investment
1. Buy Bitcoin (BTC)
Bitcoin is the world’s first and largest crypto that is widely traded. Its debut was in 2009, and the Bitcoin token BTC remains on top in the crypto world. BTC has a current price of $35,700 with a market capitalization above $600 billion.
Bitcoin’s operation is meant to create scarcity and deflationary effects for the asset. With a supply limit of just 21 million and the block halving system, Bitcoin’s scarcity is comparable to gold. Thus, Bitcoin is known as digital gold.
This makes Bitcoin to be considered as a store of value. Even during times of economic crisis, Bitcoin will remain that digital asset to serve as your safe haven.
The high market cap value and price of BTC shows its leading and dominant power in the crypto market. Bitcoin has a dominance of over 70% in the crypto market. Though the crypto dropped about $2k in price within the past 24hours, its recent trend in price speaks for it.
Bitcoin has recorded tremendous price appreciation since birth in 2009, printing higher lows and higher highs despite its volatility – that puts it at the top of the pile as a great option for long-term investment.
Bitcoin adopters: PayPal, AT&T and Microsoft
This digital currency has a wider acceptance value in payment for goods and services than other cryptocurrencies. Some of the companies that you can transact with BTC are PayPal, AT&T, Microsoft, and others.
From the price surge from $30,000-$65,000 between January and April 2021, there’s a prediction of continuous rise by the end of 2021. According to crypto experts, Bitcoin will hit above $100,000 by the end of 2021.
This future price prediction for Bitcoin makes this digital asset viable for long-term investments. It’s the best time to buy Bitcoin as the king of all coins will recover its previous losses by breaking all the barriers.
2. Buy Ethereum (ETH)
Ethereum is the world’s second-largest traded crypto after Bitcoin. The native token of Ethereum ETH was created in 2015. The price for ETH is at $2,649, with a market capitalization that is over $300 billion.
The recent upgrades in the Ethereum blockchain add more value to the Ethereum token. This positions ETH as in many ways a better and more competitive digital asset of Bitcoin.
Ethereum is a smart contract platform that runs transactions on the blockchain. Moreover, ETH also permits the operations of decentralized applications.
This makes it unique and popular in the crypto world, as well as a good digital asset for investment. Also, Ethereum has no max supply limit. This implies that there’s no limitation in the mining or minting of this digital asset.
A review of Ethereum’s price trend shows a rise from $746 in December 2020 to $2,567 in June 2021. This rise is an indication that the asset is well suited for long-term investment.
Ethereum $50 billion locked
Ethereum enables other programs which are compliant with its blockchain to run. In so doing, there’s a gas fee charge that accompanies transactions, and its payment is mainly on ETH. This has helped to boost the value of Ethereum.
Also, Ethereum has over $50 billion of total value locked (TVL). This indicates a rise in demand for digital assets.
With the recent ETH 2.0, Ethereum is improving on its services that have been a limitation in its past. As per crypto experts, ETH is getting ready for a bullish run that will push it to tap an all-time high.
3. Buy Dogecoin (DOGE)
Dogecoin has recently been making great waves in the crypto market after bouncing from its shady past. The recent upsurge of this digital asset is attributed to Tesla’s CEO, Elon Musk. Musk has paved a great way for Dogecoin through his recent tweets and has earned a name for himself as the ‘Dogemaster.’
Created in 2013, Dogecoin, which was created to mock cryptocurrencies, is now one of the top legit and viable cryptocurrencies.
The price of the dogecoin token, DOGE, is at $0.36, and it has a market capitalization of over $45 billion. By far, Dogecoin is one of the top cryptocurrencies with high volumes of transactions in the crypto market.
Dogecoin records more than 18 billion tokens in volume within the past 24 hours. This reflects the asset’s potential as a viable and profitable cryptocurrency for long-term investments.
Dogecoin to deliver 100% return by year’s end
At its current price Dogecoin is a cheap digital asset to buy for long-term price growth. Its growth rate is quite impressive. The price of this asset sky-rocketed from $0.0046 in January 2021 to $0.36 in June 2021. This depicts an increase of over 7,000%.
The price rise of DOGE has really been tremendous. One of the great influencers in the price spike is the tweet from Tesla CEO Elon Musk in which he disclosed the close collaboration between his company and Dogecoin.
Also, as one of the accepted cryptocurrencies for payment by some organizations, the value of Dogecoin is increasing.
Following its rise and trendy ‘meme’ brand power, some crypto experts have put forth a future prediction for the price of Dogecoin. Expects predict that the price of DOGE will hit $0.78 by the end of 2021, a return of roughly 100% on the current price.
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Crypto = Digital money for an increasingly digitalized world
Investing in cryptocurrencies is one of the best investment options in the world today. As the world system is becoming more digitalized, people will also turn to the use of digital currencies.
However, you must remember that your profitability in crypto investment lies in buying assets that have long-term price growth potential.
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