6 Safe Bet Coins To Invest In For The Long Haul
The long-term value of cryptocurrencies is still up for debate, but one thing is certain: these digital assets aren’t going anywhere anytime soon. In fact, the number of crypto users continues to rise at a rapid pace.
If you’re looking to get into the cryptocurrency game, you might want to take a moment to consider your long-term options. That said, your options may not be as limited as you think. In this article, we’ll take a look at six safe bet coins to invest in for the long haul.
NEO
NEO is a blockchain platform that allows users to create and run decentralized applications (DApps) and smart contracts. The platform focuses on developer accessibility and usability, and its “developer-friendly” approach has led to it becoming one of the most popular blockchain platforms in the world.
NEO was born in 2014 as an effort to create a more efficient blockchain framework. Inspired by Ethereum, the creators of NEO wanted to create a more flexible platform that could be used for a variety of applications. To this end, NEO implements several features inspired by web3.0 apps, such as smart contracts and a digitalasset transfer system.
Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) that allows banks and other financial institutions to complete transactions in seconds. It’s often referred to as “the Banks’ Best Friend”, and it’s easy to see why that’s the case. Ripple’s technology is currently being used by financial institutions around the world to complete global transactions.
As one of the oldest cryptocurrency projects, Ripple has already seen considerable traction. It’s currently the third most valuable cryptocurrency in the world, with a market capitalization of almost $40 billion. If you’re interested in investing in cryptocurrencies for the long term, Ripple may be a good choice.
EOS
EOS is a blockchain software platform designed to facilitate the development of decentralized applications. Like other cryptocurrencies, EOS uses blockchain technology to organize and record transactions, but it also provides mechanisms for developing decentralized applications.
Similar to Ethereum and NEO, EOS uses a token system to reward platform users for engagement with the ecosystem. Users can gain access to the network by “staking” EOS tokens, which provide network services for the tokens’ holders.
IOTA
IOTA is another cryptocurrency with a focus on machine-to-machine transactions. Unlike Ethereum and Bitcoin, which are primarily used by humans, IOTA is intended for use by machines. Specifically, IOTA aims to be used for managing data and conducting “tings” – for example, managing supply chains, securing IoT devices and conducting financial transactions.
Like other cryptocurrencies, IOTA is based on a blockchain technology. However, IOTA’s blockchain isn’t designed for recording financial transactions. Instead, it’s designed for recording data. This distinction is important because it means that IOTA doesn’t require mining – a process that uses high-powered computers to solve complex mathematical equations in order to confirm transactions and create new blocks of data. Instead, IOTA uses a “Tangle” data structure that’s designed to be faster and more efficient.
Bitcoin (BTC)
Bitcoin is, without a doubt, the most recognized and traded cryptocurrency in the world. It was the first decentralized cryptocurrency, and it remains one of the most popular – if not the most popular – cryptocurrencies in circulation.
Bitcoin was the first decentralized cryptocurrency, and it remains one of the most popular
Bitcoin’s origins trace back to the digital currency movement of the early 2000s. Inspired by various electronic cash systems proposed by scientists, entrepreneurs and cryptographers, Bitcoin design creator Satoshi Nakamoto released the first bitcoin white paper in 2008.
In the white paper, Nakamoto outlined Bitcoin’s central objective: to create a peer-to-peer currency that was decentralized, secure and efficient. Bitcoin’s first implementation was called “Bitcoin-1” and was released in 2009. Nakamoto released the first bitcoin software under the name “Bitcoin” in January 2010.
Ethereum (ETH)
Ethereum is another popular cryptocurrency with a focus on decentralized applications. Like NEO and EOS, Ethereum uses a blockchain technology to power applications. However, unlike those projects, Ethereum’s blockchain is designed for executing smart contracts and other types of “dApps”.
As an ecosystem, Ethereum has the distinction of being the second largest blockchain platform in the world, behind only Bitcoin. Like other cryptocurrencies, Ethereum’s blockchain uses “tokens” to reward users for engagement with the network. However, unlike other platforms, Ethereum’s tokens have other uses (for example, fueling ICOs).
Final Words: What’s the Best Cryptocurrency to Buy Today?
The cryptocurrency market is evolving swiftly, and new coins are emerging all the time. Even so, some coins remain relatively stable over time. If you’re interested in investing in cryptocurrencies for the long term, one promising coin to keep an eye on is NEO. With a market capitalization of almost $40 billion, NEO has a lot of upside potential and is a safe bet to invest in for the long haul.