What cryptocurrency should I choose for long term investment?

Question

What factors should i consider and what virtual coins should I choose for long term investment, so i can forget about them and withdraw after few months?

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Balan Ionut 4 years 3 Answers 228 views Officer 0

Answers ( 3 )

  1. If you want to buy coins for long term investment you should split your budget and buy multiple coins. Obviously, you should buy some major Cryptocurrencis, like Bitcoin or Ethereum, because they are secure. If you want to earn a large amout of money though, you should search for other crypto coins, like Bitcoin Cash, Litecoin or even Ethereum Classic. These coins are newer and may have higher growth than major ones.

  2. When you choose a criptocurrency for long term investment you should have in mind some elements:
    • Market share. A large market share is a good sign. Bitcoin, for example, has a 60% market share of the market capitalization, so it’s a good investment.
    • Utility value. Try to find if the criptocurrency you’re looking at is useful. Etherum, for example, allow developers to build apps on blockchain, and this is the main reason it is so strong.
    • Transaction volume. It is also important that your long term coin to be used daily by as many people as possible.
    The main diference between long term invesment and short term investment is the fact that long therm should not be risky.

  3. The best cryptocurrency for long term investment is the most secure one. Obviously, Bitcoin, Ethereum, Ripple and Litecoin or NEO are the best coins to invest in.

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