Cryptocurrency long-term strategy  – All you need to know

When Bitcoin was launched, it was almost worthless. Now, its cost fluctuates between 35,000 and 60,000 USD. Despite the recent plunge, it is expected that this coin is going to grow further in price. It was and remains perfect for long-term investment due to its history and particular features.

Bitcoin was created as a peer-to-peer payment system. It was supposed to eliminate middlemen between the transaction parties. However, the project was more than just a payment system. It was also decentralized and was based on crypto hashing. The coin supply was also limited. So, an idea emerged that the Bitcoin value shall be stable even if governments continue printing fiat money, causing hyperinflation (as we see, this idea wasn’t correct).

With time, investors noticed something else behind cryptocurrency: a blockchain. Blockchain technology represents that utility aspect in the cryptocurrency world that makes it valuable indeed. It can serve as a foundation for new systems that are already being built. Blockchain technology is used to enable instant settlement in capital markets, supply chain modifications and improvements, easier peer-to-peer lending, and similar.

From this point of view, some cryptocurrencies are highly valuable in regard to long-term investments. A perfect cryptocurrency that qualifies for the utility aspect has the following features:

• It is accepted widely not only among crypto traders but among crypto developers. The acceptance by crypto developers means that the coin is going to move on, new features will be added, and the project is going to comply with the requirements of the modern market.
• It is not just a peer-to-peer payment network. The more versatility a cryptocurrency offers, the better it is. It means that it will find applications in one or another field in the real world.
• A large team of developers is working on the crypto project constantly to improve and refine it.

For now, just a few coins comply with all three requirements. Those are Bitcoin, Ethereum, Cardano, Polkadot, Chainlink. Such coins have value and are good for long-time investment because, with the growing adoption level, their prices are going to grow. If you check, each of the mentioned coins has something besides the fact that it is just a coin: it either supports a network where companies can create smart contracts and/or dApps, or allows DeFi development, or has potential for other functionalities that will be applied in the future.

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