S4B Crypto Contest - Season 23
Hello, friends welcome to my post in which I have discussed S4B Crypto Contest as part of my participation in this 👉contest organized by @waqarahmadshah
Which cryptocurrencies are most stable for long-term investing?
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We have so many cryptocurrencies in the crypto market that I can see that it's not all crypto that is stable for long-term investing as some cryptocurrencies are very volatile whereas some are stable based on their market capitalization, adoption, and use cases which some of these circumstances that are stable based are
Bitcoin (BTC): It has the highest market capitalization which is seen as the crypto with the store or value. Bitcoin has been in existence for long and early adopters of Bitcoin are smiling today.
Ethereum (ETH): This is the crypto that is next to BTC in terms of market capitalization adoption and use case. It is worth investing for the long term as the use case is large.
Binance Coin (BNB): This crypto is worth investing in in the long term as it is owned by the Binance exchange which is used for trading fees, staking, and participating so many projects on the Binance smart chain.
Stablecoins (USDT, USDC, DAI): These are worth investing in for the long term as they are pegged to US dollars to preserve the volatile nature of cryptocurrencies.
There are several others that I cannot finish to discuss about them here. But it is advisable to consider the market cap, adoption and the long term vision of cryptocurrency before investing, in terms of stability the cryptocurrencies which we have talked about have proven to be more stable than others.
What are the key pros and cons of crypto in retirement planning?
Planning to incorporate crypto into retirement planning can offer someone a sweet advantage, which also comes with risks. As for pros, a person stands the chance to get a higher return on investment, whereas for cons, volatility, security, and others I have presented both the pros and cons in a tabular form below.
| Pros | Cons |
|---|---|
| High potential for growth | Extreme volatility |
| Diversification | Regulatory Uncertainty |
| Inflation Hedge | Security risk |
| Accessibility | Complex to understand |
| Decentralization | Limited acceptance |
| Emerging financial instruments | Potential for fraud and Scam |
Would you put 10% of retirement savings in crypto or traditional assets? Why?
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Yes, I would put 10% of my retirement savings in crypto than putting in traditional savings because putting it in crypto I stands the chance of earning a higher return and I would have access to my fun 24/7 than when I put it in traditional savings. It is even advisable for someone to put like 5% to 10% of his or her savings in crypto to overcome inflation in the future. Crypto is all about moving ups and downs if my savings go down will surely come back, which I have experienced in the crypto market.
I am inviting: @dove11, @simonnwigwe, and @dave-hanny
All the best!
Thank you sir.