Is Crypto a Good Long Term Investment?

Many people are wondering if cryptocurrency is a good long term investment. The answer may surprise you.

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Introduction

Cryptocurrencies have been one of the biggest stories of 2017. Bitcoin, the original and most well-known cryptocurrency, has seen its price go from $1,000 in January to more than $17,000 today. Ethereum, the second-largest cryptocurrency by market capitalization, has seen its price rise from $8 in January to more than $700 today. And there are hundreds of other cryptocurrencies with prices in the single digits or even just a few cents.

Bitcoin

Bitcoin is the most popular and well-known cryptocurrency, with good reason. It’s been around the longest and has the largest market cap. But that doesn’t make it automatically a good long-term investment. In fact, there are several reasons why Bitcoin might not be a good long-term investment for you.

Ethereum

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property.

This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.

Litecoin

Litecoin is often referred to as the silver to Bitcoin’s gold. It has a faster block generation rate and hence offers faster transaction confirmations. Litecoin uses a different proof-of-work algorithm than Bitcoin, called Scrypt. This allows individuals with consumer grade hardware to mine Bitcoin, which was previously only possible with expensive, specialized equipment.

Ripple

Ripple, also known as XRP, is a digital asset designed for use in the financial sector. Ripple was released in 2012 and is currently the second-largest cryptocurrency by market capitalization. Ripple is different from other digital assets in that it is designed to be used by financial institutions as a replacement for traditional cross-border payment methods such as SWIFT. Ripple has been adopted by a number of banks and payment providers, and its use is growing. While ripple is not yet as widely used as some other digital assets, it has strong potential for growth in the future.

Conclusion

After doing our research, we believe that crypto is a good long-term investment. While there are definitely risks involved, we believe that the potential rewards outweigh the risks.Crypto is still a relatively new asset class, and it is constantly evolving. This means that there is still a lot of potential for growth. Additionally, crypto has shown to be fairly resistant to economic downturns. For these reasons, we believe that crypto is a good long-term investment.

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