3 Cryptos To Buy And Hold Forever - Our Picks
Here’s a glimpse at our top picks for the crypto to buy and hold forever. Find the detailed description of each token in the coming section.
Bitcoin remains one of the top cryptos to hold for the long term.
Ethereum has adapted the much faster and more scalable PoS network, making it more efficient.
Solana is one of the hottest crypto tokens to buy and hold now.
A Closer Look At The 3 Cryptos To Buy And Hold Forever
Numerous macroeconomic factors like surging inflation, rising interest rates, upcoming recession, and geopolitical issues continue to create volatility in the crypto and stock markets. However, cryptocurrencies are growing stronger with increasing adoption as investors believe in the old investment adage “buy the dip.”
The best strategy for crypto investments is a buy-and-hold strategy that requires a high level of patience. Here are the best 3 cryptos to buy and hold forever to achieve your long-term financial goal of retiring rich.
Bitcoin (BTC)
Bitcoin is the oldest cryptocurrency, and its success has paved the way for the emergence of thousands of other digital assets. The price of BTC has shown a high degree of volatility to date, falling in value to all-time lows and rising to greater extents in the next bull run. Nevertheless, the crypto still dominates the market with a total cap of $372,132,544,792.
It is the premium cryptocurrency that has become synonymous with digital assets. Plus, the continuous adoption of the token, mainly by institutional investors, also indicates that despite the bear market, Bitcoin investments still make sense. On the other hand, everyday investors are largely holding on to it. With El Salvador making Bitcoin a legal tender, several countries are planning to do the same.
In addition to this, companies like Block have poured hundreds of millions of dollars into Bitcoin. Tesla, the multinational automotive and clean energy company, bought over $1.5 billion worth of Bitcoin in 2021 and reported holding over $2 billion of the cryptocurrency by February 2022. Also, the business intelligence software company, MicroStrategy, has been accumulating BTC since 2020, holding almost $5.7 billion in cryptocurrency by the end of 2021. The company reported that it has plans to buy more with excess cash generated from operations. This increased adoption by institutions across the globe has bolstered the long-term value and potential of Bitcoin, making it a good buy, especially when it is trading at a low price of around $19K.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
While Bitcoin is touted as the digital gold, Ethereum is on a mission to pave a global computing platform that supports numerous other cryptos, DeFi applications, and a huge ecosystem of decentralized applications (dApps). Several metaverse projects like The Sandbox, Axie infinity, and Star Atlas leverage the Ethereum blockchain.
Although the federal reserve’s aggressive monetary stance has caused investors to reassess their appetite for risk in 2022, leading to a plunge of several tokens, there’s one big reason investors might want to buy and hold ETH forever. The completion of Ethereum’s much-awaited Merge has reignited hope in investors to hold Ethereum for future returns. The transition to Proof-of-Stake was over seven years in the making, and the long-drawn-out process is proof of how complex and groundbreaking the move was.
With a highly energy-efficient network, Ethereum is now in a position to scale better and host more projects on its network. This would lead to greater adoption of the network, boosting the utility and price of ETH. Also, with the upcoming sharding on the horizon in 2023, more developers and users will flock to Ethereum in the coming years, making ETH the best buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana is a fourth-generation blockchain and cryptocurrency known for its speed and efficiency. But the network is greatly hailed for its fast and unmatched transaction speed that can handle over 65,000 TPS at an average cost of $0.00025 per transaction. Solana has introduced new and innovative technologies and aims to disrupt the payments industry.
SOL is the cryptocurrency running on its blockchain, and the token has grown significantly in price since its inception. Experiencing stellar performance in 2021, it raised enough to hit an all-time high of $260.06 in November. Although, the token was not immune to the recent 2022 crypto winter and is trading at $32.55, which makes it a good buy now for long-term returns.
The cryptos' trustless and distributed nature make SOL the ideal crypto for day-to-day commerce. Solana employs a unique consensus mechanism Proof-of-Stake protocol, along with a Proof-of-History algorithm, which helps it achieve its tremendous speed.
Like Ethereum, Solana also hosts numerous dApps, including NFT marketplaces and DeFi projects. The release of Solana Pay, a decentralized system that allows merchants to accept cryptocurrency as a form of payment, was another boost for SOL’s value and demand. Solana Pay facilitates instant transactions and is energy-efficient, with fees of just a fraction of a penny.
However, the blockchain has experienced numerous severe outages in 2022, with attacks and bugs knocking the network offline. But investors’ belief in the crypto was reaffirmed as the team announced that it has a separate software development team managing the network. Also, the Web3 firm Jump Crypto has partnered with the Solana foundation to develop Firedancer, which will dramatically scale the network, allowing it to handle more transactions more efficiently in the coming years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
The future of cryptocurrency would definitely include more volatility, and this is something long-term crypto investors should be aware of. But the increasing pace of adoption is a sign of a maturing industry and investment sector. Therefore these are the top 3 cryptos to buy and hold forever to secure a wealthy fortune.
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