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3 Cryptos to Buy and Hold Forever

1y ago
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That’s fair enough.

After all, with monetary policy remaining hawkish and a lack of catalysts on the horizon, selling pressure could continue for some time. Whether we’re talking about cryptos or stocks, that is likely to be the case. Accordingly, a buy-and-0hold strategy requires a tremendous amount of patience right now.

But for those with the requisite patience, now may be a great time to buy some beaten-down cryptos. This is still a sector whose adoption rates are climbing. And if more individuals get involved in cryptos over time, the growth of this space will be attractive.

Here are three top cryptos to buy and hold forever. Investors may want to at least put these names on their watch list right now.

BTC-USD Bitcoin $19,936
ETH-USD Ethereum $1,343
SOL-USD Solana $34

Bitcoin (BTC)

Bitcoin Depot, Woman in front of ATM for Bitcoin.
Source: Petr Hoffmann / Shutterstock.com

Launched in 2009, Bitcoin  (BTC-USD) is the oldest and largest cryptocurrency in the market. With a market cap of  around $383 billion, Bitcoin dominates the crypto world. And while this token’s market capitalization has shrunk to less than half of the overall crypto market, Bitcoin remains the gold standard to which most other tokens are compared.

I don’t think this is going to change anytime soon. A number of Bitcoin’s rivals have popped up as potential competitors in terms of size over time (and we’ll get to two in a minute). But for those truly intent on holding a token that’s representative of the crypto movement, Bitcoin’s brand is what separates it from the pack.

With countries like  El Salvador now accepting BTC as legal-tender currency, this brand has been acknowledged globally. It’s expected that other nations might try to copy this move. However, regardless of what takes place going forward, it’s clear that Bitcoin’s status as quasi-money is what draws many investors to this token.

While Bitcoin’s value as a market hedge appears to have been disproven, this token’s value as a representation of interest in the crypto sector is worth noting. For those who believe in the long-term trends supporting this sector, Bitcoin has to be on their watch list at these relatively low levels.

Ethereum (ETH)

Crypto currency etherium. ethereum coin on exchange charts. e-currency Ethereum. Ethereum price predictions
Source: viktoryabov / Shutterstock.com

One cryptocurrency that I continue to be upbeat on is Ethereum  (ETH-USD). There are a number of obvious reasons for my optimism about ETH.

The world’s second-largest cryptocurrency, Etheruem is often thought of as the Bitcoin alternative. Thus, for those looking for a large- scale crypto, Ethereum certainly meets that criteria.

The growth of Ethereum’s network has surged since the crypto’s launch in 2015. Much of this growth has been triggered by the utility that Ethereum’s network creates. By introducing smart contracts, Etheruem has essentially driven the lion’s share of the growth of decentralized finance and DeFi applications on the blockchain. Thus, for those looking to invest in cryptocurrencies that support “doing stuff,” Etheruem remains the top option.

That said, there’s another big reason investors may want to look at this token. On Sept. 15, Ethereum’s network completed its Merge, ushering in its highly anticipated Ethereum 2.0, or the new-and-improved Ethereum network that’s driven by proof-of-stake.

This major upgrade makes the network much more energy efficient, as it will be using 99% less power than it did previously. However, this Merge also sets the stage for future upgrades down the road.

Thus, for those looking for a token with near-, medium- and long-term catalysts, Etheruem is one to consider right now.

Solana (SOL)

Solana logo on phone screen stock image. Solana price predictions.
Source: sdx15 / Shutterstock.com

One of the most scalable blockchains out there,  Solana  (SOL-USD) is probably best known for its speed and low-cost transactions. Using a unique combination of proof-of-history and proof-of-stake, Solana has found a way to execute thousands of transactions per second for just fractions of pennies. The obvious implications of this technological breakthrough are worth noting.

For those in the non-fungible token (NFT) space or for individuals simply looking to transfer small sums on the blockchain, Solana’s low-fee environment is much more attractive than that of a number of its competitors. Thus, it’s unsurprising to see just how much activity has shifted to the Solana blockchain over time.

In the category of blockchains that support actual activities by users, Solana is right up there with the best. In many ways, I look at Solana as a way to indirectly play the growth of NFTs and DeFi. As more users seek to carry out transactions, Solana could gain market share. Over time, its market-share growth is likely to enable the token to outperform, assuming that crypto valuations will start to stabilize at some point.

Like the other tokens on this list, Solana will be battling some macroeconomic challenges.   Over the long-term, however, this is one of the cryptos that investors should consider buying right now.

On the date of publication, Chris MacDonald has positions in Ethereum and Solana. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald's love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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