Crypto

3 cryptocurrencies to buy now and keep forever! – ₿magazine

At the time, the main cryptocurrency, bitcoin (BTC 0.99%), fell from $19,500 to $6,700 per coin within seven weeks. This drop was 64%.

But this time it’s completely different. Digital currencies are on track to have a strong regulatory framework and widespread adoption. Therefore, it would be wise to buy the best cryptocurrencies during sharp downturns like the one we are currently seeing.

Read on to find out why Bitcoin, Ethereum (ETH -0.99%) and Polkadot (DOT 1.16%) are the top names on this list of long-term winners. These are the ones you have to pick up at temporary lows and then hold with diamond hands.

Hit first, hit hard

I’m not trying to surprise you. The idea is to choose the most stable cryptocurrencies in the long run. These three tokens have a first-mover advantage in their field, which is important, especially for bitcoin.

Yes, there are many cryptocurrencies that share the vision of Bitcoin as a means of digital payment and store of value to compete with the dollar and the euro. But the best way to do this is to create a single digital currency, rather than dozens of variants with slightly different design options – that consumers, retailers, banks and other data manipulators take seriously.

Despite all its technical shortcomings, bitcoin has always been an alternative to cash. It is the first token that retailers are turning to when considering the future of cryptocurrency payments. This is the one that companies like Blok and Tesla write on their balance sheets, replacing some of their cash reserves. And while emerging companies have been gaining market share over the past five years, bitcoin still makes up 41% of the market capitalization of the cryptocurrency industry as a whole:

Within 5-6 hours, the number of bitcoins issued by the blockchain since its launch will exceed the 19,000,000 mark for the first time. #bitcoin

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Thus, bitcoin is the most obvious cryptocurrency that can be bought now and held forever. But wait – that’s not all!

Smart contracts and flexible technologies

One of the two main uses of cryptocurrency is the transfer of money and the storage of value. The other is smart contracts, which use digital tokens to set up and manage an amazing variety of cutting-edge products and services.

Without smart contracts, there are no non-fungible tokens or decentralized financial services. They can add another layer of security to a cryptocurrency transaction or include additional data in an ongoing transaction. These contracts could eventually become the basis for next-generation voting systems, manage our medical records, or automatically resolve our claims.

Read also Greenpeace Campaign Asks Bitcoin to Abandon the PoW Blockchain

This is a powerful idea that can save you money in the long run. Here, the value of smart contract tokens lies in their advanced features and utility in the real world.

You know the early bird who caught the worm like Ethereum. Projects using this blockchain and its tokens make up the vast majority of all smart contract applications and services today. According to State of the dApps, a website that monitors the decentralized applications (dApps) market, Ethereum-based dApps account for 1,977 of the 2,775 smart contract applications.

The programming platform, which accounts for 71% of the total market, is not easy to replace, even though some Ethereum competitors offer faster execution and other benefits.

And the Ethereum project does not stand still. Developers are constantly tweaking the blockchain network code behind the scenes in preparation for the highly anticipated release of Ethereum 2.0 in early 2022. Proof-of-Stake requires less power and makes the whole system more secure. This willingness to recognize and fix technical errors on the fly ensures Ethereum has a long and healthy future in an ever-changing marketplace.

Getting more profit from small cryptocurrencies

And let’s not forget the not-so-secret card up my sleeve. Polkadot is the eleventh largest cryptocurrency by market capitalization, valued at 5.6% of the total value of Ethereum or 2.8% of the value of Bitcoin. Polkadot’s vision is to connect the various blockchain networks to form an interconnected system that is much more than the sum of its parts.

In the same way, applications built on Polkadot can scour the entire cryptocurrency market to find the most efficient networks for a particular task, and then combine several of them into an even more powerful end product. Polkadot makes things easy with additional crowdfunding processes and a thriving developer community.

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