Cryptocurrency is barely a speculative investment these days. Retail and institutional investors are taking the digital assets very seriously. With so much going around the digital currency, investors are treating them as useful for not only short-term profits but also for long-time investment. But which ones should you choose to invest in? To make it easier for you, we discuss some crypto coins that have been topping the market cap charts time and again. Considering their relative stability, these could be good choices for a long-term investment.
1) Bitcoin (BTC)
Bitcoin is the world’s largest cryptocurrency. Its valuation is increasing as more investors are endorsing this ‘digital gold’. The most vital factor behind its prized value is the maximum limit of its coins: 21 million.
2) Ethereum (ETH)
Ethereum or ether is almost always in competition with Bitcoin, Ethereum or ether. Its share in the crypto market recently rose from 18 per cent to 20 per cent. It is a decentralised blockchain platform that cuts out third parties.
3) Cardano (ADA)
Cardano is also a decentralised blockchain platform that uses a native cryptocurrency. It enables secure peer-to-peer transactions. There are plans to enable smart contracts on it very soon.
4) Uniswap (UNI)
This currency already allows the use of smart contracts. It facilitates automated transactions with tokens on the Ethereum blockchain.
5) Dogecoin (DOGE)
The coin has earned a high mining rate since its inception. It’s still on the speculative stage and hasn’t crossed the dollar mark. However, it has a larger circulation and unlimited capacity to mine more.
6) Binance Coin (BNB)
Like Bitcoin, it has a limit on the number of tokens that it circulates: 200 million coins. It also follows a quarterly routine of destroying or “burning” much of its currency around the year. These are major reasons for its soaring value.
7) Polkadot (DOT)
This currency provides a bridge for networks so that many applications built on Polkadot can also work on Ethereum and Bitcoin. However, it is more scalable and faster.
8) Tether (USDT)
It became one of the first cryptocurrencies pegged to the US dollar. It is a blockchain-based cryptocurrency. The coins are backed up by fiat currencies kept in banks.