Long-Term Safe Cryptocurrency
I will start this article with my own experience in trading crypto hoping that you will avoid the many mistakes I made along the way.
I have been a crypto blogger for about 5 years now, I started writing about Crypto before the world warmed up to it. With years of writing under my belt, I am well-versed with the topic. I am usually aware of every headline hitter; honestly, I enjoy what I di and usually, I am thrilled to keep up with the happenings within the Crypto sphere.
Interestingly, I steered clear of crypto investment because I understood the level of risk involved. However, the more I wrote about overnight millionaires, the more I desired to try investing. So sometime in May this year I decided to finally get started.
As one would expect, I made both profits and losses and the losses were more than the profits. For someone who had written about the best investment practices repeatedly, I sure made many questionable choices. I kept doing exactly what I tell my readers not to.
For instance, I invested a lot more than I was willing to lose and when the investment went south, I was crushed. Secondly, I invested in many “shitcoins” and I am yet to see any returns from them. In the following article, we will explore a few safe cryptocurrency options for long-term investment.
Important lesson learned
When the losses became too many, I had to step back and assess what I was doing wrong. I concluded that my biggest problem was greed. Expecting to become an overnight millionaire will hurt you more than it will motivate you. I am not saying that you cannot become an overnight millionaire, however, ask yourself how many of those do you know?
Most people are patient with all other investments except with crypto. They expect to make plenty of money within a couple of hours. Many investors and specialists greatly discourage this attitude. Robert Kiyosaki for example encourages investors to adopt a more long-term attitude and to only invest within their means.
Investing out of greed to make millions within hours will make you anxious and discouraged. It made me dislike my investment experience because I was not getting what I expected.
Investing long-term is not just safe but quite simple and stress-free. With patience, enough research, and consultation, you too could be become the next crypto millionaire.
We have all witnessed cryptocurrency value radically increasing in value, I am confident that things are only about to get better.
Understanding long-term investment
The investor here expects the price of the asset to increase in the long run. The investment can either be made once or cumulatively. You are required to maintain the investment for an extended period, at least 6 months. It is not uncommon for such investors to hold on to their investments for a couple of years.
Benefits of long-term safe cryptocurrency investing:
- Great track record – Based on historical evidence, long-term investment works. For instance, over the past 5 years, the cryptocurrency market has appreciated over 10,000%. The future is only expected to get better.
- Lower fees – being that you are not conducting daily transactions, you are less likely to incur additional transactional fees.
- Reduced risk – since you are in the market for longer periods, you avert the risk of missing out on profitable opportunities.
- Bitcoin (BTC)
This list would not be complete without Bitcoin; it is an obligatory holding for anyone looking to invest in Crypto. It is the largest coin by market cap, accounting for over 40% of the overall crypto market cap.
This year has been quite good for Bitcoin; first, it was adopted as a national currency by El Salvador and then it hit its all-time high in November.
As a short-term investment, Bitcoin can be quite discouraging because of the dramatic price swings. However, as a long-term investment, I believe that the world is yet to see the best of Bitcoin. It is a much valuable investment now than it was 5 years ago.
Who is to say where this coin will be in the next five years?
- Ethereum (ETH)
For years, Ethereum has remained to be a valuable contender in this arena. With a current dominance of over 20%; it has the most used Blockchain in the world. It also remains to be the network of choice for the young, booming field of DeFi (Decentralized Finance). It is also a popular host for NFTs.
Its popularity and a large number of users are what make ETH a great investment option. A great use case ensures that the asset survives and thrives for years to come.
- Solana (SOL)
Solana was one of the coins that showed up and then took over the market in 2021. Its growth was remarkable, from accounting for just 0.01% of the market to over 26%.
Solana addresses many pressing issues in the crypto sphere thus ensuring its longevity and survival in the market.
Solana is a developer-friendly network with lower transaction fees than Ethereum. It is a fantastic option for anyone phasing a wager on DeFi’s continued growth.
With the world just beginning to explore its potential, the future is bright in DeFi. Solana’s future is therefore bright by association thus making it one of the best cryptocurrencies to invest in.
- Binance coin (BNB)
BNB is one of those coins that still have plenty of room for growth. Its market dominance rose from 0.7% at the start of 2021 to 4.1% in early December.
It is the native coin for the Binance platform which is the world’s largest crypto trading platform. Its development team is not only credible but also dedicated to its continued investment. For instance, they plan to maximize its worth through quarterly burns.
You can therefore invest confidently knowing that your money will be well taken care of.
- Polygon (MATIC)
MATIC was developed on the Ethereum Blockchain and funded in part by both Binance and Coinbase. The goal of this project was to morph Ethereum into a multi-chain system thus creating a more versatile and scalable Crypto ecosystem.
MATIC was created to enable more rapid mainstream adoption of Crypto. It has shown tremendous growth in the recent past, growing by over 20% in less than one week. Its track record since January is also quite impressive, starting from less than 2 cents at the beginning of the year to about $2 in early December.
If this performance is anything to go by, MATIC is indeed a great long-term investment option not just for December but even beyond.
Honorable mentions
- Avalanche token (AVAX)
- Kitty Inu (KITTY)
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