Long Term Crypto Investment | BitTrust IRA
Table of Contents:
- Long-Term Cryptocurrency Investing
- Long-Term Crypto Investment Expectations
- Best Long-Term Cryptocurrency to Invest
Long-Term Cryptocurrency Investing
This form of cryptocurrency investment is when you anticipate its price to rise over time — generally an investment that must be held for at least six months to a year. Long-term crypto investors, in some circumstances, want to retain their assets for decades. Investments may be made in installments, and for many investors, dollar-cost averaging is an excellent method.
While keeping digital assets, many long-term investors receive income from them. If you own Bitcoin, Ethereum, or other cryptocurrencies, you may as well earn interest on them to amass more coins in the long run. This is made feasible by platforms such as BitTrust IRA, which allows you to earn up to 12% interest on your digital assets.
Long-Term Crypto Investment Expectations
A successful long-term investment in cryptocurrencies is based on the belief that their prices will rise over time. Your long-term crypto investment entails holding it for a set time, depending on your investment objectives.
Long-term investors often keep their assets for many years or decades to maximize profits. So, if you feel blockchain-based technology will flourish in the future, long-term investment in crypto might be a wonderful idea.
However, it’s important to remember that investing in cryptocurrencies exposes your money to volatility and various hazards, such as wallet hacking. As a result, before stepping into the crypto realm, you must comprehend what you are investing your hard-earned money into.
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- Why Should You Consider Long-Term Crypto Investment?
- Things to Know When Choosing Your Crypto Retirement
Best Long-Term Cryptocurrency to Invest
1. Bitcoin (BTC)
It is the world’s biggest cryptocurrency and the first and most popular on the market. Satoshi Nakamoto, whose identity remains unknown, founded Bitcoin in 2009. Bitcoin may be referred to as “private money” instead of fiat currency, which governments control. Organizations or governments do not control Bitcoin’s supply; rather, the specifications in Bitcoin’s code regulate its monetary supply. Bitcoin has a maximum quantity of 21 million coins, of which more than 18 million have already been mined. Because of its limited supply, Bitcoin is the ideal cryptocurrency for storing value on the market.
2. Ethereum (ETH)
This is the second-largest cryptocurrency, founded in 2014 by Vitalik Buterin and seven others. It is one of the most extensive platforms for decentralized apps or DApps. Ethereum is the platform, while Ether is the Ethereum platform’s currency. This currency is powered by smart contracts, a collection of conditions and actions specified by its creators.
The third currency on the list is almost similar to Bitcoin. It is a decentralized peer-to-peer cryptocurrency. It’s a script-based consensus network, which distinguishes it from Bitcoin. In 2022, it is one of the greatest long-term cryptocurrencies to invest in and retain.
4. Bitcoin Cash
This cryptocurrency was born out of a schism in the Bitcoin community in 2017 about the route the currency should go. While Bitcoin Cash’s market value is lower than that of Bitcoin, it enables quicker transaction speeds at a reduced charge.
5. Bitcoin SV
Bitcoin SV’s claimed goal is to be a more technologically sophisticated continuation of the original Bitcoin protocol, emphasizing enhancing network transaction speeds and allowing massive scalability. With this in mind, Bitcoin SV stands for “Bitcoin Satoshi Goal” since both the blockchain technology and its associated cryptocurrency were created to carry out the vision of Bitcoin’s pseudonymous inventor, Satoshi Nakamoto.
6. Ethereum Classic
Ethereum Classic is quite similar to Ethereum due to their shared ancestor. It is a blockchain that enables the development of other apps on top of it. These decentralized applications, or dApps, make use of a kind of code called smart contracts to enable users to trade money, property, or anything else of value without an intermediary.
ETC is the network’s native currency. Additionally, the Ethereum Classic network allows decentralized applications (dApps) to create their currencies, including NFTs.
7. Stellar lumens
Stellar is a distributed ledger technology built on the blockchain to link individuals and financial institutions worldwide. The mission of Stellar is to improve financial inclusion by developing globally accessible, low-cost, and simple-to-use payment solutions.
Stellar is the brand name for the network that the Stellar Development Foundation is developing. The network’s currency is called Stellar lumens, or just lumens. The sign XLM denotes stellar lumens.
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