Key Points
- Bitcoin has hit an all-time high of $64,000 and could get to $100,000 in just a year’s time.
- In the past five years, Ether grew by 33,590%
- Ripple is now used by more than 100 banks worldwide thanks to its convenience in financial transactions
Cryptocurrencies have changed the dynamics of traditional investing by bringing a whole new idea of what to invest in for retirement.
Traditionally, most individuals could buy conventional stocks, or invest in real estate. These two have for a long time been the dominant investment options for a majority of people.
The idea of cryptocurrencies came into being just about a decade ago. A majority of the world’s population still do not understand the intricate details of how this industry works.
Currently, there are more than 5000 digital currencies, and more are still being developed. With so many of these currencies available and coupled with the limited knowledge and information available in this industry, it can be a daunting task to choose cryptocurrencies to buy and hold for life.
It is a critical decision since you will be investing not just for the long term but also for retirement.
Cryptocurrencies are quickly disrupting technology and the world’s finance. There has already been a lot of resistance coming from big corporations and especially from the banking industry.
Several cryptocurrencies, some of which have no real-world use cases already have market capitalizations bigger than some giant corporations in the world. Currently, the market capitalization of the cryptocurrency industry is above $2 trillion.
As this industry continues to grow, institutional investors have now realized its potential and are starting to make inroads into the industry. As more large investors get into the picture, they will continue pushing the value of these digital currencies. You could make a fortune if you take your time to learn about them, and choose correctly which ones to invest in. To help you with that, here are 3 bargain cryptocurrencies you should consider having as part of your retirement package.
3 Bargain Cryptocurrencies To Buy And Hold
Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency, the biggest in terms of market capitalization, and the pioneer of all digital currencies.
Having Bitcoin as one of your investments is a wise idea considering its qualities, use cases, and growth potential for a long-term investment.
So, what is Bitcoin? This coin was developed by an anonymous person going with the pseudonym Satoshi Nakamoto. To this day, no one knows who Satoshi really is.
However, the coin has continued to grow in value thanks to its practical use cases and properties.
Bitcoin operates on a decentralized blockchain. This means that there is no central authority controlling the flow of this currency, similar to fiat currencies. It is also transparent that every transaction is recorded on the public ledger, so no one can create fake Bitcoins and disrupt the market, making it a valuable way of carrying out transactions.
Bitcoin has high growth potential. At its inception, the coin was worth just a few cents. It grew in value, hitting its all-time high of $64,000 in 2021 before slowing down and temporarily losing like all the other cryptocurrencies.
It is now worth $49,000 but has regained its upward trend and could hit $100,000 in one year.
Having BTC coin as part of a retirement scheme will earn some good money as a pension if it maintains the same trajectory.
Check Out: Ways to Make (or Lose) Money With Bitcoin (BTC)
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
It comes as no surprise that Ethereum takes the obvious second position as the digital currency you should consider having and holding it for life.
Ether is even likely to surpass Bitcoin as the dominant cryptocurrency, considering its many practical use cases to finance and technology industries.
Developers are in love with it due to the unlimited potential it presents to them to create and develop decentralized applications.
In a nutshell, Ethereum is a decentralized platform with an open-source blockchain and smart contract capabilities. The platform was conceived and developed by a computer programmer and cryptographer Vitalik Buterin in 2013.
Ether (ETH) is the native token that runs all the activities on the Ethereum platform. This technology is useful in the banking and technology sectors as it allows developers to create any kind of dApps that run uninterrupted by central organizations or institutions.
The platform is focused on anonymity, decentralization, transparency, and value.
What makes ETH a good investment? In addition to its numerous use cases, the value of Ethereum has been rising at a fast rate as more institutions and individuals continue understanding its potential and value and adapting it as a result. Currently, it is the second-largest cryptocurrency by market capitalization at $382 billion after Bitcoin.
This coin has had an impressive growth pattern growing from a measly $10 in January 2017 to the current $3,369. This change represents 33,590% in just five years. This coin or even a portion of it will secure your financial future if it retains the same path.
Don't Miss: Investing In Ethereum Right Now Could Make You A Millionaire Retiree
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple (XRP) is the third digital currency you should consider having as part of your investment portfolio.
XRP comes at the advantage that it is still relatively cheap at about $1.09. Its low price means you can buy a lot more units than you would Bitcoin and ether. With just $110, you could have about 100 tokens of this digital currency. If in ten years this coin hits $1000, you would have $100,000 as your retirement package.
Keep in mind that ten years is a relatively short time. It took Bitcoin relatively the same amount of time to rise from a few cents to thousands of dollars.
It is also possible with Ripple considering its use cases, especially by financial institutions.
Ripple allows individuals to transfer any form of currency from one person to another at very low fees. More than 100 banks in the world are already experimenting with this payment system.
Ripple began its journey in 2012 and has since had a 10,000% change from its initial price. With a market capitalization of more than $48 billion, this is another cryptocurrency that you can buy today and hold forever.
Read Also: 5 Reasons Why Ripple Could Double Your Money
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro – The Best Platform To Buy Crypto Assets
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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