The best cryptocurrencies for long term investment in 2023 - MONEY TALK

The best cryptocurrencies for long term investment in 2023

The best cryptocurrencies for long term investment in 2023
The best cryptocurrencies for long term investment in 2023

The best cryptocurrencies for long term investment in 2023 

The best cryptocurrencies for long term investment in 2023, There are thousands of different cryptocurrencies from Bitcoin and Ethereum to Dogecoin and Tether, which can make you feel a little confused about the best cryptocurrencies to invest in the long run.

To help you search for the best cryptocurrencies for long-term investment, we will share with you through this article the best cryptocurrencies for long-term investment, Before nominating the best cryptocurrencies for long-term investment, let us introduce you to our perspective on cryptocurrencies and the investment philosophy of most successful investors.


Reduce risk

Risk is an integral part of investing in cryptocurrencies, so it's best to stay prepared. Before we share with you the best cryptocurrencies for long-term investment, let's take a look at some ways to protect yourself from risks.

Don't invest money you can't afford to lose: Cryptocurrencies are volatile, so you can win or lose your assets in just one week. There are many currencies that are doomed to failure, so don't invest the money you need so the consequences won't be dire if the market crashes.

Start with the emergency box first. You shouldn't treat investing as an opportunity that won't be repeated, Be sure to save for priorities and emergencies before you consider investing.

Don't invest more than 5% of your total portfolio: Make sure your digital assets are only a small part of your balanced portfolio, so they are not too affected by market volatility.

Use a good digital transaction app: Find the most secure platform for storing your assets. A cold wallet that doesn't connect to the internet may be the best option in terms of providing additional protection against hacking.

Do the necessary research: You are not required to become a blockchain expert, but you definitely need to know the basics. So how will you be able to pick the best cryptocurrencies for long-term investment?

Invest for the long term: Don't look for quick wins, take a long-term investment approach to avoid panic buying or selling, and focus on currencies that are real interest and likely to work well over time.

Allocate only a portion of your total portfolio to investing in cryptocurrencies, you have to be prepared to lose.

You first have to look at the basics of digital currency and understand it well before investing in it. Investing in a currency with a limited lifespan holds little appeal to potential investors.

Best Cryptocurrencies for Long Term Investment

1- Bitcoin (BTC)

It is not surprising that Bitcoin tops the list of the best digital currencies for long-term investment as it is the pioneer of blockchain technology itself. It currently hovers around 750 million market capitalizations and this is due to being the oldest digital currency.


There are 18.9 million BTCs in circulation at the moment, with a total maximum of 21 BTC ever created, So when it comes to cryptocurrency investing, Bitcoin is one of the best cryptocurrencies to invest in the long run. This is also due to their ease of understanding and low volatility compared to other cryptocurrencies.


2- Ethereum (ETH)

Ethereum is a smart contract platform and is the second choice in the list of the best cryptocurrencies for long-term investment, as it is the second largest coin by market capitalization with more than 400 to 450 billion dollars. It is correct to remember that Ethereum is the platform while the currency you may invest in is called Ether. 

This currency is usually used to pay gas fees on the Ethereum network. What sets Ethereum apart from Bitcoin is the fact that it manages smart contracts, where developers make applications on the Ethereum network to run smart contracts, Ethereum is currently trading at around 2500,2750 to 150,200 coins, which is pretty crazy considering it traded for $250 to $300 a year ago. Ethereum's current market capitalization is around $ to $ billion at the moment.


3. Cardano (ADA)

Cardano stands out as a cutting-edge smart contract platform, positioning itself as a step ahead of Ethereum in various key aspects including size, speed, and energy efficiency, Spearheaded by none other than Charles Hoskinson, a co-founder of Ethereum, Cardano officially made its grand debut onto the scene in the year 2017, Since its inception, Cardano has been committed to pushing the boundaries of blockchain technology, striving to offer superior dimensions of scalability, swiftness, and eco-friendliness compared to its counterparts.


The main factor that distinguishes between Bitcoin, Ethereum and Cardano is that Cardano works using a consensus model to prove the stake. This means that it allows investors in it to verify transactions, So the more Cardano you have, the more you can actually reclaim these codes through so-called proof of stake which motivates people to stay online.


Cardano seeks to connect different blockchains allowing you to transfer assets from one blockchain to another. Currently, more than 70% of all ADA tokens are stored in the Cardano network, resulting in reduced supply and lower price fluctuations for Cardano overall. Cardano is currently trading at 1.55 per coin which means its market capitalization is around $45 to $50 billion.


4- Internet Computer (ICP)

The fourth cryptocurrency we recommend in our list of the best cryptocurrencies for long term investment is Internet Computer, a digital currency created by the Dfinity Foundation, a nonprofit scientific research organization that raised $121 million from famous venture capitalists.


Dfinity has been silently working for the past five years on this coin, The initial coin was introduced on May 10 of this year and was immediately traded on Coinbase Pro which is very difficult, as coins are usually around for a while before coinbase adopts them.


  • Dfinity and Internet Computer are looking to decentralize developers and entrepreneurs and reduce risk. Let's use an app example in the Apple App Store. You can place your app on the Apple App Store, and every time you make a sale, you'll deduct 30% of your profits. 
  • But if Apple wants to change this rule and make it 35% or more, you have no opinion on the matter. Similarly, if you are a content creator or if you work on a platform like Tiktok and then a malfunction occurs, your business will be completely shut down.

ICP is currently trading at $60 per coin, but it is highly volatile. It is now considered one of the twenty largest cryptocurrencies by market capitalization, 469 million coins have been created, but so far, only 26% of them are actually in the state of circulating supply, for a total of about 123 million.


5. LINK

The last cryptocurrency best for long-term investment is Chainlink, which seeks to connect smart contracts to the outside world, Let's say you have a smart contract between you and a friend that you bet on in the NBA championship, You think the Golden State Warriors will win the NBA Championship and if that happens, your friend will owe you a thousand dollars through this smart contract. The problem here is that the smart contract doesn't know who will win the NBA championship. 

Chainlink looks to connect those dots and input that data from the outside world into the smart contract, where your smart contract will be automatically executed when the Golden State Warriors ultimately win the NBA.


This currency is very volatile, it can rise by 20 times and also fall by 80% in one day, so keep that in mind before you invest in this currency.


How to Find the Best Cryptocurrencies for Long-Term Investment

There are 5 steps you should take when you are preparing to search for the right cryptocurrency for you:

1- Read the white paper

If you are interested in a currency, read its white paper, This will give you the foundations and objectives of that currency.


2. View the website

A cryptocurrency website usually lists a roadmap, what it is trying to achieve, and its overall vision.


3- Understand the offer

You have to look for the ceiling of supply that this coin offers and also how it is created and consumed.


4- Find the backgrounds of the founding team

You need to know how good the founding team is, its background, and how confident it suggests, Just like investing in a company's stock, you need to know who leads the company to ensure its progress and success.


5- Community

You have to know what people are saying about this coin in terms of pros and cons, and then weigh it to make sure it is correct and quality.

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