Frederick Jace
There’s a common trend among the best crypto coins to hold for the long haul. The buy and hold strategy was the first to be used with cryptocurrencies. At first, you couldn’t trade bitcoin on a common exchange, so the way to invest in it was to hold it. Higher crypto prices would then be an indication to find a buyer who you’d pass your coins to. Buy-and-hold strategies still work, but there are some misconceptions abounding. There are also specific reasons to buy long-term.
Asking About Utility
The cryptocurrencies that will outlive us are those that have utility. Such crypto will outshine bitcoin and may even compete for its place as a universal store of value. This is possible through market utility. Some of the most valuable things in human society are things that get put to use. The more that blockchain achieves, the more that new cryptos will achieve aside from payment processing. Blockchains that build on the innovations of society are worth holding.
Find out Who Owns It
In most cases, the best cryptos are easy to name without much thought. The edge you get as an investor, however, is in knowing who owns what. You not only want to learn about the intentions of a developer, but look at how they manage their blockchain. The utility of a coin should closely align to the emerging trends and needs of the world. The problems that real people have must be the determining factors behind which coins are truly relevant.
Compare It to the World of Blockchain
In the world of blockchain, there are contracts, automation and decentralization. Each of these can be achieved without resulting in the existence of a new coin. Blockchain is so innovative that the metaverse and our future-mobile devices will operate on it. A cryptocurrency that’s worth holding on to is one that’s supported by a great blockchain. These blockchains bring a new function to the market or achieve common functions at greater speeds and ease.
Consider Other Means of Use
Many of the world’s successful investors invest in products that they also use. Investing in something that you also use is a way to make the investment risk tolerant. Your use of a cryptocurrency or blockchain negates “the need” for you to financially profit from it. Whether you can sell that stake or not, it gives you real-world utility regardless. If you can find crypto to invest in that you can also use, then you have something worth holding on to for years to come.
Start With Some of These Options:
- Cardano: This development gives society the source code to lower the energy cost of mining.
- Bitcoin: Bitcoin remains on this list and will as long as it stays central to payment processing.
- Ethereum: The growth blockchain receives calls for what Ethereum is achieving today.
- Tether: The liquidity that Tether creates for coin exchanges gives it a strong, financial base.
- NEAR Protocol: In an attempt to accelerate web 3.0, NEAR developers have years to go.
