Filipinos have traditionally looked to property and stocks as the go-to options for investing . However, over the past few years, the cryptocurrency market has experienced substantial growth in value, making it a potentially profitable investment choice.
But not all cryptocurrencies are created equal, so it's important to do your research before investing and trading in any crypto coins. In fact, as of this writing, the crypto market is bearish. Bitcoin price has plunged below $30,000, the largest drop since July 2021, challenging miners’ profitability.[1]
In this article, we'll take a look at eight cryptocurrencies that have the potential to grow substantially in value over the next few years.
8 Long-Term Crypto Investment Options
With so many cryptocurrencies in the market, which ones should you be on the lookout for if you want to make a long-term crypto investment? Here are some options.
Bitcoin (BTC)
Market Cap: $577 billion
Bitcoin (BTC) is a decentralized digital asset and payment system that uses cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
It’s the first and most well-known cryptocurrency, with a market capitalization of $577 billion. Bitcoin is often called "digital gold," due to its limited supply and its ability to act as a store of value.
While the price of Bitcoin is highly volatile, it has shown potential for long-term growth in recent years. With increasing institutional adoption and mainstream interest, Bitcoin is positioned to continue its ascent in the coming years.
Read more: Investments for Beginners: Find the Right Investment for You
Ethereum (ETH)
Market Cap: $248 billion
Ethereum is a decentralized open-source blockchain featuring smart contract functionality. It’s the native currency for the Ethereum platform and works as a gas to power the network.
Launched in 2013 by Vitalik Buterin, Ethereum has become the second-largest cryptocurrency by market capitalization and has been one of the top eight cryptos since its inception.
One of the main reasons for Ethereum's success is its unique features and programming language, which allows for the development of decentralized applications (dApps) on its network. Decentralized apps are often touted as more secure and censorship-resistant than their traditional centralized counterparts.
Tether (USDT)
Market Cap: $73 billion
Tether is a digital currency that’s backed by US dollars. This means that each coin is worth one dollar, and the coin's value is stable. This makes Tether a good choice for investors who want to invest in cryptocurrencies without worrying about the volatile prices.
While the price of Tether may not fluctuate much, the coin does have the potential for long-term growth. That's because as more people adopt cryptocurrency, there’s a growing demand for coins that are stable in value.
Tether is transparent and auditable, which gives investors confidence in its value. You can use it to purchase goods and services, making it a useful currency in its own right. These factors make Tether USD a coin with great potential for long-term growth.
Binance Coin (BNB)
Market Cap: $53 billion
Binance coin is the official cryptocurrency of the Binance exchange. You can use this tradable token to pay fees, trade, and enjoy discounts on trading fees on Binance.
The Binance coin can also be used to pay for goods and services on the Binance platform and other online stores and merchants that accept cryptocurrencies. Furthermore, the Binance exchange is one of the most popular cryptocurrency exchanges, and its coin is one of the 10 largest cryptocurrencies by market capitalization.
Binance also has a strong team behind it and a growing community. These factors make the coin a promising option for long-term growth.
Read more: Game and Trade: How to Convert Your Axie SLP to PHP Using Binance P2P
Ripple (XRP)
Market Cap: $20 billion
While many different cryptocurrency coins exist, Ripple (XRP) is one of the most promising when it comes to long-term growth potential. Here's a look at what Ripple is and why it has such a promising future.
Ripple is a digital asset that enables instant, frictionless payments anywhere. Unlike Bitcoin, however, you can't use Ripple as a currency. Instead, it’s designed to be a global settlement network that allows banks and other financial institutions to quickly and easily transfer money.
One of the major advantages of Ripple is its speed — it can handle 1,500 transactions per second. This scalability means that Ripple has the potential to become the backbone of the global financial system.
Ripple is already being adopted by major banks and financial institutions worldwide, including American Express[2], Santander[3], and UBS.
Cardano (ADA)
Market Cap: $18 billion
Cardano is a cryptocurrency similar to Ethereum in many ways but also different in others. It’s built on a blockchain technology that’s more secure and scalable than Ethereum's.
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Its ADA token powers the network, and ADA holders can use their tokens to send and receive digital funds and stake their tokens to help support the network’s security.
Additionally, Cardano has a unique consensus algorithm called "Proof of Stake"[4], allowing users to earn rewards for participating in the network. Cardano also has a development team that’s very active and has a well-funded foundation.
Solana (SOL)
Market Cap: $18 billion
Solana is a high-performance cryptocurrency that focuses on providing fast and secure transactions. One of Solana's key features apart from other cryptocurrencies is its Proof of History (PoH)[5], which is a more efficient way of verifying transactions.
The team behind Solana has created a unique consensus algorithm that allows the network to process thousands of transactions per second. This makes Solana an attractive option for businesses and developers looking for an efficient way to handle large amounts of data. It’s also ideal for high throughput applications, such as exchanges or gaming platforms.
Polkadot (DOT)
Market Cap: $10 billion
Polkadot[6] is a next-generation blockchain protocol that enables scalability, interoperability, and cross-chain collaboration for blockchains. It’s more scalable than Ethereum, making it one of the most promising blockchains for enterprise adoption.
Its unique architecture enables it to connect different chains, including those from Polkadot and Ethereum, allowing for greater interoperability. This makes it an attractive option for developers looking to build decentralized applications.
Polkadot also has a built-in governance system that allows for on-chain upgrades and allows for the community to play a role in the development of the protocol. The native token of Polkadot, DOT, is required to participate in the governance of the network and can be staked to earn rewards.
Is Crypto a Good Long-Term Investment?
When Bitcoin first burst onto the scene in 2009, it was nothing more than a curiosity. Early adopters saw its potential as a decentralized, digital currency that could upend the existing financial system, but mainstream adoption remained elusive.
In the years since, Bitcoin and other cryptocurrencies have become increasingly popular, with investors pumping billions of dollars into the market. However, crypto's volatile nature has also made it a risky investment, and the recent COVID-19 pandemic has sent prices plunging.
So, is crypto still a good long-term investment? While there's no easy answer, there are several factors to consider before making a decision.
First, it's important to understand how crypto works and what you're actually buying when you invest. Second, set realistic expectations for returns and prepare for market fluctuations. And finally, it's crucial to diversify your portfolio and not put all your eggs in one basket.
When approached carefully, investing in crypto can be a smart way to grow your wealth over time. But as with any investment, it's important to do your homework and understand the risks involved.
Can Crypto Make You Rich?
When it comes to crypto, there's no simple answer to the question of whether or not it can make you rich. While there are certainly many people who have become quite wealthy through investing in cryptocurrency, there are also plenty of others who have lost a great deal of money.
The key to success in the world of cryptocurrency is education and due diligence. Those who take the time to learn about the different coins and how they work are more likely to be successful investors.
In addition, it's important to know the risks involved in any investment. Only invest money that you can afford to lose. With that said, there's no reason why crypto can't make you rich. Especially if you're willing to learn about it and make smart investment choices.
Related reading:
- Coins Pro Trading: What You Should Know Before Buying Cryptocurrencies
- Crypto Trading in the Philippines Just Got More Exciting with BloomX
- Coinbase Basics: How to Create a Coinbase Account, Trade Crypto, and More
Final Thoughts
So, is crypto a good long-term investment? The answer to that question depends on who you ask. There are certainly opportunities for growth in the years ahead. But it’s important to stay up-to-date on the latest news and trends to make informed decisions about where to invest your money.
We hope this article has helped give you a better understanding of the current state of cryptocurrencies and how they could potentially impact your financial future.
Are you interested in learning more about specific coins that have potential for growth? Be sure to check out our other articles for insights into some of the most promising cryptos out there.
Sources:
- [1] Largest difficulty drop since July 2021 — 5 things to know in Bitcoin this week (Coin Telegraph, May 2022)
- [2] American Express Introduces Blockchain-enabled, Cross-border Payments (Ripple, November 2017)
- [3] Santander to Roll Out Ripple-Powered App in 4 Countries (CoinDesk, September 2021)
- [4] Proof of Stake (Cardano)
- [5] Proof of History — A clock for blockchain (Solana)
- [6]An Updated Overview of Polkadot (Polkadot)
DISCLAIMER: Information published on this blog or elsewhere on www.moneymax.ph should be used for general information purposes only and does not constitute investment advice, performance data or any solicitation or recommendation that any security, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your financial situation, risk tolerance level, investment experience or objectives; all of which are unique to you. Before acting on information on this blog, we suggest consulting an independent professional to advise you on the risks of any decision and the extent of any exposure to loss.
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