If you’re bullish on crypto after Bitcoin’s (BTC-USD) most recent resurgence in popularity, you might be wondering what the best cryptos to buy are. Specifically, what are the best cryptocurrency projects to buy into now in hopes that their adoption will be widespread enough in a decade to yield outstanding returns?
Unlike investing in stocks, investing in crypto is far more ethereal and far less regulated. After all, the first American stock exchange started in 1792. Bitcoin became publicly available in 2009. Thus, the concept of buying into cryptocurrency still isn’t clear to the vast majority of people. Does investing in Bitcoin mean you expect it to become the legal tender of the future? Or is it just a way to try and multiply your hard-earned cash?
Either way, the best cryptos to buy and hold for a decade are the most legitimate ones. They’re the ones that have already seen attempts at adoption and integration into various financial systems.
Bitcoin (BTC-USD)
Starting with the aforementioned, Bitcoin, no crypto is currently more likely to survive into the future than BTC. The reason? It has been around the longest and essentially started the industry, it has the highest trading volume and market cap and is the most widely applied and accepted as tender globally. Some governments, like El Salvador’s, have even experimented with making it a part of their currency structures. Beyond these factors, the coin’s success has inspired an entire industry of Bitcoin mining companies, which set up computer farms constantly decrypting algorithms to further the coin’s circulation.
That being said, investing in Bitcoin is not like investing in stocks. It’s not a matter of a company’s future value so much as it is the adoption of a highly technical technology. Thus, timing the market with Bitcoin is unlikely to yield successful results. Instead, consider the money invested as a long-term gamble and try to buy when the price of Bitcoin is well below its all-time high — unlike right now.
Ethereum (ETH-USD)
If Bitcoin seems too expensive to be worth it, Ethereum (ETH-USD) is always a second, more moderately priced investment option to hold onto. That’s the main reason it’s dubbed the “world’s largest altcoin,” because its mission is to offer a more ecosystem-based alternative to Bitcoin.
Thus, the best long-term investors in ETH are those confident in the prospects of blockchain technology. That is because ETH’s biggest value proposition is not as an alternative to fiat currency but rather as an open-source blockchain. As such, developers seeking to advance blockchain technology earn ETH coins that can turn into dollars as their value increases.
ETH is also a major contributor to the concept of decentralized finance, which intends to circumvent traditional banking and allow for large-scale transactions to take place person to person via a blockchain. So, if you’re bullish on blockchains and decentralized finance, ETH could be among the best alternative cryptos to buy into and hold for the next decade.
Binance (BNB-USD)
A coin tied directly to the performance of the largest cryptocurrency exchange in the world, Binance (BNB-USD) is a more complex play than the other two on this list. That’s because buying and holding Binance for the next decade means being certain of its value as an intermediary currency and being confident in the longevity of the Binance exchange.
As the Binance exchange increases in popularity, so could the theoretical use and trading frequency of BNB. This would, in turn, increase its value and ultimate buying power. For investors, that means either using BNB as a means of storing valuable cash or having an efficient way to trade for other cryptos on the Binance platform.
Ultimately, there’s a reason BNB is the fourth cryptocurrency by market cap, and it comes down to the general popularity and trust that Binance has earned within the budding crypto community.
On the date of publication, Viktor Zarev did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
