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Top 5 Cryptocurrencies for Long-Term Investment: Technology is one space that has never been dormant and has grown year after year, bringing something new that we can upgrade on. One such technology is blockchain, and it will surely be the most dominant technology of the future. Since things like Web 3.0 and Metaverse are on the way, which use blockchain as their platform, we can rest assured that it is the technology of the future, and 2023 is the right time for us to invest ourselves in it. The blockchain platform is still in its earliest form of development and is continuing to grow with time, which makes the year 2022 the best time to invest in cryptocurrency based on the blockchain platform.
Now cryptocurrencies are considered to be one of the best investments right now, but how does someone select the best cryptocurrency with the best prospects? We already know about the popular Bitcoin, but new cryptocurrencies are emerging at a fast pace, and selecting one for investment with the best future performance is difficult. This is why this article will list down the best 5 cryptocurrencies that you can invest in 2022 for the long term and get the best returns possible.
The blockchain platform is a future technology that will be dominant across all segments and markets. Recently, it was estimated that Bitcoin would reach a market value of $100,000 in 2023, which is almost more than double the value of last year. Cryptocurrency is going to be used in almost every financial structure and other company in the future, which has led to its enormous growth in the last few years. Since it is a developing technology and has a lot of potential, it has been predicted that the value of cryptocurrency is going to increase by many folds in the coming years.
There are companies that have already moved on to blockchain platforms and have developed and created apps for them. This leads us to one conclusion: this year, we will see the cryptocurrency boom to new heights. That is why the year 2023 is one of the best times to invest in cryptocurrency. Another reason to invest in crypto now is that it has been accepted by almost every country and its government, Cody, with the necessary regulations. Since trading has been made legal almost globally, there is a bigger scope for investing in blockchain cryptocurrency.
Top 5 Cryptocurrencies for Long-Term Investment
So you have finally decided to invest in cryptocurrency but are confused as to which one you should invest in. There are many choices, and new cryptocurrencies are being launched regularly in the market, which represent different types of applications based on blockchain. Therefore, it can be confusing to understand the scope and future of crypto. However, we have listed five of the best cryptocurrencies that you should invest in 2023. These have a wider prospect of growth and have shown a lot of interest from companies and users. The listed cryptocurrencies mentioned below are expected to grow in the future and are perfect for initial investment.
Biconomy is one of our top 5 cryptocurrencies for long-term investments. Biconomy was founded in 2018 by an Indian company to list a token on the Coin list. Biconomy was meant to be the payment gateway in the We 3.0 universe, where cryptocurrencies were used as payment. Biconomy is one of the few Indian companies in the Web 3.0 world that has made waves in this segment and has tried to provide a gas-efficient, scalable relay infrastructure to simplify transactions for firms that will be using the Web 3.0 platform. The token name is BICO, and it has been listed on almost all large crypto exchanges in the world. The company was also the first to list a coin on the coin list, being a Web 3.0 firm. The company was founded by Aniket Jindal and co-founders Ahmed Al-Balaghi and Sachin Tomar. They have already managed to raise more than $9 million last year and have been investing in Coinbase, Bain Capital, Coinfund, NFX True Ventures, and a lot more. It has currently partnered with more than 100+ apps, including various Defi, gaming, and social blogging platforms based on Web 3.0
- Allows for gasless transactions, which helps to bring down costs for DeFi platforms in Web 3.0.
- Node operators are compensated in $BICO
- Holders of $BICO can vote and suggest issuance
- The total supply of BICO is 1,000,000,000 and the current circulating supply is 65,374,608.00 BICO
- Protects the payment in Web 3.0 from fraud and security issues
- Smooth transfer of ownership using BICO, without third-party approval
- Technical glitches and human errors cannot be avoided in business and are the only possible issues that can arise.
Biconomy understands that one of the major reasons people are not investing in crypto is the complex process of setting up a wallet and managing the transactions. It is what Biconomy is going to simply do in the future for every firm based on the Web 3.0 platform. With more and more companies moving to Web 3.0, which is the next generation of the internet, on which we all have to move on eventually, the potential growth of the economy in 2022 seems to be going uptrend.
Hydra is the second coin on our Top 5 Cryptocurrencies for Long-Term Investment: Hydra is a permissionless, open-source, proof-of-stake blockchain system that has taken its elements from some of the best existing open source technologies like Bitcoin, Ethereum, QTUM, and more. It was designed by Pavel Vasin and has some of the most critical economic features available for users. It has fixed inflation to contribute to its true decentralized architecture and stimulate market participants and speakers. It runs on the UTXO accounting model and supports EVM as an additional layer. One of the major solutions that it provides is moving from an inflationary state to a deflationary state and burning all the transaction fees to the protocol level. It offers price degradation as it can convert transaction gas into a permanent supply cut.
- It burns 100% of the transaction fee
- EVM-compatible smart contract platform
- Unique decentralized governance protocol
- It also provides users with wallet-level scalability
- it provides up to 50% royalty on gas for smart contract users
- State channels allow the parallel processing of transactions and smart contracts
- It can be a multi-headed process
- Can create a smart contract in Hydra without registration in the blockchain
- The Blockchain growth is not as expected in the previous years
- Scalability can be an issue sometimes
The ladder of growth for Harmony has been steady through the years, and it would be the best time to buy it right now as the price is on the lower side. Hydra is expected to increase and grow a lot in the year 2024. Therefore, if you are looking to invest in crypto, now might be the best time to buy Hydra.
Harmony is the third coin on our list of the Top 5 Cryptocurrencies for Long-Term Investment. Harmony is one of the new blockchain networks on the market, and it has shown a lot of capability and trust from developers and crypto investors. The token ONE has about a $2.5 billion market cap and has increased by more than 5,200% in a year as well. It shows how the growth rate of this particular crypto is right now. Harmony believes in the ability to scale while maintaining decentralized security with a separate group of validators, which allows new blocks and transaction approval simultaneously. Also, the entire blockchain network is energy-efficient and does not use a huge amount of computing power. It can also process proof-of-stake validation, and it’s never laggy or cloggy like Ethereum. Also, it has the ability to share data with multiple other blockchain networks.
- It addresses core blockchain concerns and replaces the old and traditional financial system
- Also, It is very energy efficient and does not require large amounts of processing power
- It has a lower gas fee
- It can share the data with another blockchain platform as well
- It comes with cross-chain capabilities
- Requires less computing power
- There is huge potential for NFTs in the future
- It has powerful competitors like Ethereum and Zilliqa, which address the same issue
Harmony faces tough competition from another blockchain platform that resolves the same issue that it does. However, that does not make Harmony less capable, and it is definitely worthy of crypto that can be invested in 2022. The year 2022 is expected to be a growth year for Harmony and might be the right time for investment in it.
Ripple (XRP) is the fourth coin in our top 5 cryptocurrencies for long-term investment. It is a native cryptocurrency that was developed by Ripple Labs, and it is used for payment settlements, asset exchange, remittance work, and a lot more. It works very similar to SWIFT, which is a service for international money and security transfers that is currently used by financial institutions across the world. Since it is pre-mined, it uses a less complicated mining method as compared to Bitcoin. Users within a network can bypass the banks, make loans, and open credit lines with each other. Now it is a network for money transfers for large financial and business institutions. The major aim of XRP has been to create a mechanism of exchange between two networks or currencies that is easier and faster. Since it remains decentralized, it is a lot faster and more reliable than many of the other competitors in the market.
- It is very energy efficient and uses less energy in the consensus system
- It is cheaper and faster than competitors like Bitcoin
- Its money-transfer network and digital currency make transactions faster
- It uses different systems to verify transactions
- Reduced cost and increased speed on a decentralized platform
- Can be used by owners of small businesses for secure money transfer
- Can be used as a bridge currency for international currency transfer
- The consensus protocol is less secure than other methods of processing cryptographic transactions
- It is difficult to purchase in the US
Ripple (XRP) has shown great potential in the last couple of years, and it is expected that the company will increase the span of the financial institution that uses its platform. Therefore, it is expected that we can see growth in cryptocurrency this year, and this might be the best time to invest in it.
Cocos is the fifth coin in our Top 5 Cryptocurrencies for Long-Term Investments. Cocos is the next generation of the digital game economy, which aims to create a multi-platform runtime environment for games that will be based on the blockchain platform and mainly Metaverse. It is aimed at providing more convenience and completeness in game development with unprecedented gaming status. It is represented by the Cocos-BCX token. The company is based in Beijing and raised over $40 million for this platform. Due to this, it has become one of the fastest-growing cryptos in the market right now. The aim of Cocos is to provide an easy-to-use blockchain infrastructure for game developers and a visualized development kit for an on-chain ecosystem. It will further help in providing an open and transparent gaming environment with clear rules and transparency in handling user data.
- The gaming development on this platform is clear and transparent with regard to data
- Developers use the content they produce to earning
- It is fully decentralized
- They have a broader vision that will last for years
- It currently has a lot of investors looking to invest in it.
- They have no trading profile
- The project team has not been made public
- Multiple issues with synchronization between ledgers
Currently, Cocos is getting a large amount of investment from investors, and many new investors are also looking to invest in it. One of the major reasons for that is the opportunity it will create for the gaming segment in the future, which is currently a billion-dollar industry. The prospects of Cocos are looking great in 2022 and should be one of the best investments that one can make right now. Its current strategy suggests that it will grow by a large amount this year.
Disclaimer: Cryptocurrency investment is subject to market risk Please make your own research before investing