Points to think about before buying and investing in cryptocurrency
- When the cryptocurrency reaches a certain price or a certain period of time, will you sell it?
- Do you want to sell parts by time or at one time?
- Are you ready to trade your long-term vision for short-term investment? For example, if there is a change in gambling strategy or the application of new laws, which may affect the financial situation and long-term price of your investment, you may want to reconsider selling in advance.
- Doing some research to decide which cryptocurrency is the most convenient or most suitable for long-term investment will come in handy.
Best Cryptocurrency to Buy and Hold
Now let’s see the top cryptocurrencies that you can buy and hold in September 2021.
1. Bitcoin (BTC)
It was established by Satoshi Nakamoto in 2008. Bitcoin can be transferred directly from one user to another with the help of a peer-to-peer Bitcoin network. We know that Bitcoin is actually decentralized digital money. Network nodes are used to validate transactions, that are recorded in a blockchain (Public distributed ledger). These network nodes are used by cryptography. Although there is volatility in the price of Bitcoin, still it remains dominant in the crypto market. As more investors invest in Bitcoin, its value keeps increasing. The most important factor behind this high value of Bitcoin is the maximum limit of its coins i.e. 21 million.
Market value: Over $856 billion
2. Ethereum (ETH)
Ethereum is a decentralized digital platform that can create and execute smart contracts and Apps without downtime, fraud, control, or third-party interruptions. It is a permission less, non-layered collection of servers (nodes) that generates a growing “block” network or transaction package called a blockchain, and reaches consensus. Ethereum is always in competition with Bitcoin. Its share of the crypto market has recently risen from 18% to 20%.
Market value: Over $357 billion
2. Cardano (ADA)
Cardano is a cryptocurrency system. It has an open-source project that aims to build an open public blockchain for payment systems. The internal coin of Cardano is called Ada.
Just like Ethereum, it is also a decentralized blockchain platform that uses native cryptocurrency. This also enables secure peer-to-peer transactions. Also, there are many plants in the market to enable smart contracts on it very soon.
Market value: Over $12 billion
3. Uniswap (UNI)
The Uniswap protocol is a decentralized encryption exchange mechanism. Uniswap is the name of the company that invented the agreement. The protocol uses smart contracts to implement automatic transactions between cryptocurrency tokens on the Ethereum blockchain. This currency can already use smart contracts. It supports automatic transactions using tokens on the Ethereum blockchain.
Market value: Over $12 billion
It was actually created as a joke by the software developers named Billy Markus and Jackson Palmer. They made it to mock the booming cryptocurrency market going on at that time. In May 2021, SpaceX launched the first space mission funded by cryptocurrency, the ride-sharing flight to the moon funded by Dogecoin. Since the inception of dogecoin, the mining rate of the token has been high. It is still in the speculative stage and has not yet broken the dollar mark. However, it has a greater circulation and unlimited mining capacity.
Market value: Over $40 billion
5. Binance Coin (BNB)
BNB is an ERC20 token based on Ethereum, developed by the major cryptocurrency exchange Binance. This currency can be used to pay commissions for purchases on the exchange. The currency produced a total of 200 million tokens. According to the white paper, Binance plans to use 20% of its revenue to repurchase and burn BNB every quarter until 50% of the total BNB supply (100 million) is burned.
Market value: Over $70 billion
6. Polkadot (DOT)
Polkadot is a unique cryptocurrency designed to bring blockchain interoperability to the public. It is actually a decentralized Internet that enables different blockchains to exchange data and information in a reliable way through the Polkadot relay chain. Its protocol connects allowed and unlicensed blockchains and oracles so that the system can communicate in a single environment. The co-founder and former CEO of the Ethereum project is the same person and that is Gavin Wood. This currency provides a bridge to the network; so many Polkadot-based applications can also run on Ethereum and Bitcoin. However, it is more scalable and faster.
Market value: Over $25 billion
7. Tether (USDT)
Tether, formerly known as Real Coin, was one of the first cryptocurrencies pegged to the US dollar launched in 2014. It is a cryptocurrency whose crypto tokens are insured by the same amount of traditional fiat currencies, which are kept in separate bank accounts, such as U.S. dollars, British pounds, or Japanese yen. Tether is a stable currency, a form of cryptocurrency designed to keep the price of cryptocurrency unchanged, rather than other famous cryptocurrencies such as Bitcoin and Ethereum experiencing large price fluctuations. It became one of the first cryptocurrencies linked to the U.S. dollar. Tether is a cryptocurrency based purely on blockchain. These coins are backed by legal tender deposited in the bank.