Top 4 Cryptocurrencies To Consider In Europe For Long Term Investments
Cryptocurrencies have unquestionably grabbed the globe by storm, and they show no signs of slowing down. Everyone is jumping on the cryptocurrency bandwagon for short-term gains or long-term investments, propelling it closer to general adoption.
While short-term crypto traders have profited quickly, long-term cryptocurrency investment strategies are believed to be far superior to short-term cryptocurrency investing strategies since crypto assets often follow cycles and compound over time, increasing in value. Despite the extraordinary volatility that crypto markets provide, the possibility for enormous gains has attracted a number of investors.
If you’re thinking about investing in cryptocurrencies for the long run but aren’t sure which top cryptocurrency to pick, we’ve got you covered. For those of you interested in pursuing a long-term cryptocurrency investing plan in Europe, here are the top four cryptocurrencies in which you might invest for the long run.
Bitcoin, the first and most well-known cryptocurrency, is without a doubt the top cryptocurrency for long-term investment. The main reason for Bitcoin’s popularity is that investors believe the cryptocurrency will appreciate in value over time due to its restricted supply, as opposed to fiat currencies like the dollar or the pound. Most investors also believe that as fiat currencies weaken, Bitcoin will continue to appreciate in value.
Without a question, Bitcoin, the first and most well-known cryptocurrency, is the best cryptocurrency for long-term investment. The fundamental reason for Bitcoin’s appeal is because investors think that, unlike fiat currencies like the dollar or the pound, the cryptocurrency would gain in value over time owing to its limited quantity. Most investors also assume that when fiat currencies lose value, Bitcoin’s value will rise.
Bitcoin (BTC) is the first cryptocurrency, sometimes referred to as digital gold, and was created in 2009 by an individual or group of individuals using the pseudonym Satoshi Nakamoto. BTC is also the most popular cryptocurrency, and for good reason: its price, market capitalization, and volume are all far higher than any other. Despite the fact that there are thousands of other cryptocurrencies on the market, Bitcoin currently holds over 40% of the overall cryptocurrency market capitalization.
Bitcoin’s price has risen by roughly 113 percent since last year, from around $0.0008 to $0.08 per coin more than a decade ago, hitting a record high of over $67,000 in the second part of October 2021. While one of Bitcoin’s most apparent risk considerations is its volatility, the possibility for large rewards as a result of this volatility is also what has made it so popular. According to some forecasts, the price of bitcoin would climb through 2021, hitting $80,000 or $100,000, then $250,000 by 2025, and a huge $5 million per bitcoin by the end of the decade.
Ethereum is a popular crypto investment for many people since it isn’t only a cryptocurrency that can be used for transactions. It is second only to Bitcoin in terms of price and market cap. It’s also a network that, because of its ERC-20 compatibility standard, allows developers to create their own currencies. Ethereum not only works as a platform for the creation of numerous cryptocurrencies, but it also allows for the execution of decentralized smart contracts. Other innovations that have improved the value of Ethereum over time include DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens).
Ethereum’s blockchain was established as a “one computer for the entire globe,” according to co-founder Gavin Wood, capable of making any software more durable, censorship-resistant, and fraud-resistant — owing to the usage of a globally distributed network of public nodes. Ether has been battling with Bitcoin for the title of greatest cryptocurrency by market capitalization since its debut in 2015 and came close to surpassing Bitcoin in February 2018. Ethereum is expected to “flip” Bitcoin and become the most valuable blockchain and cryptocurrency in the long run, according to experts.
Despite significant obstacles, such as high transaction prices, Ethereum has increased by about 900 percent in the previous year. This is due to the much-anticipated London Hard Fork update, which will let the network process many more transactions per second while also decreasing the network’s astronomically high gas prices (as a result of this increased scalability).
The price of Ethereum is now trading above $4100. Ethereum is predicted to trade above $5000 by the beginning of 2022, and to reach $50,000 by 2030, according to analysts.
Cardano is an open-source and decentralized public blockchain platform that was created in 2015 by Ethereum co-founder Charles Hoskinson and is known for its early use of proof-of-stake validation. Cardano (ADA) has attracted a wide range of investors because of its recent significant market gain and its energy-efficient operations that are deemed more eco-friendly than Bitcoin.
Cardano’s own coin, ADA, makes peer-to-peer transactions possible. While ADA may not be able to compete with Bitcoin and Ethereum in terms of price, its present value has skyrocketed. To far, the price of ADA has risen 1600 percent to $2.15.
The price of ADA is expected to reach $3.83 in 2021, $7.70 in 2022, $8.93 in 2023, and $15 by the end of 2025, according to the Economy Forecast Agency.
4.Polygon (previously known as Matic Network)
Polygon, formerly known as Matic Network, is an Ethereum token that makes use of level two sidechains to make transactions cheaper and faster. Polygon is an India-based cryptocurrency that seeks to make Ethereum blockchain transactions cheaper and quicker. It was created with the intention of expanding Ethereum and improving its infrastructure. As we’ve seen, Ethereum’s high transaction costs are a major roadblock to its growth, and Polygon is working to address these difficulties by creating a decentralized platform that allows for low-cost transactions.
In an effort to obtain global prominence, MATIC was rebranded Polygon early this year. The Polygon network’s native coin, despite being renamed Polygon, is still known as MATIC. On a single MATIC sidechain, the network predominantly uses point-of-stake checkpoints, allowing for up to 16 transactions per block. In the future, this might allow for millions of transactions on the blockchain.
MATIC, which began the year at $0.01, has increased by more than 10,000% in the last three months and now trades at $1.86. MATIC is anticipated to be worth $1.74 by the end of 2021, $3.09 by the end of 2022, and $3.61 by the end of 2024.
Invest in cryptocurrencies with Bitdenex
Whether you’re a beginner to crypto or a seasoned investor, if you’re wondering how to invest in cryptocurrencies in Europe in 2021, Bitdenex is the right choice for you. One of Europe’s best and most trusted crypto exchanges, Bitdenex facilitates low trading fees with highly impressive security features and KYC procedures.
To start trading with Bitdenex , visit the exchange by clicking here.