Top Five Buy And Hold Cryptocurrencies To Own For Life

A Buy and Hold strategy is an investment and trading strategy where an investor buys stocks or assets and holds them for an extended period regardless of fluctuations in the market. This strategy is based on the premise that the asset's value will eventually rise over time.

It is important to note that the Buy and Hold strategy is not a trading strategy but rather an investing one. A trader aims to make as much profit from the market volatility as possible, whereas an investor aims to hold onto their asset for as long as possible.

By now, you're probably aware that Bitcoin is one of the best investments of the past decade. Some people may have missed out on those huge gains, but there's still money to be made from the cryptocurrency craze. Here are five cryptocurrencies that are great investments for the long haul.

Bitcoin (BTC)

Bitcoin (BTC) is the mother of all cryptocurrencies. Famous for its price volatility, it has had a roller coaster ride that has seen it gain over 1000% in recent years and then loses over 50% in a matter of weeks.

As the cryptocurrency market matures, Bitcoin (BTC) shows signs of stability and growing investor confidence. This makes it an obvious choice for a Buy and Hold portfolio. Bitcoin (BTC) is probably the most widely traded cryptocurrency globally. It is also the oldest and most established.

Bitcoin is the most popular crypto asset globally, and it is available on almost every crypto exchange platform. The coin has become the gold standard for cryptocurrencies, and many altcoins are benchmarked against it. Several merchants globally have also gained acceptance, such as Microsoft and Overstock.

Ethereum (ETH)

Ethereum (ETH) has emerged as the most prominent competitor to Bitcoin in recent years. It's a decentralized platform for creating and deploying applications on distributed computing systems rather than a centralized server.

However, Ethereum goes far beyond being a simple cryptocurrency, offering smart contract technology that can be used to create decentralized applications (dapps). This means developers can create financial instruments or games that run as programmed without any risk of censorship or fraud.

Ether is the native currency of Ethereum, and it's the second-largest cryptocurrency by market cap behind Bitcoin. Ethereum launched in 2015 and was co-founded by Vitalik Buterin, a young programmer who was told the idea was too ambitious to work.

Two years later, Ethereum went live with 11.9 million coins pre-mined for the crowd sale, worth about $1 billion at today's prices.

Litecoin (LTC)

Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency released on October 7th, 2011, and went live on October 13th, 2011. It was a Bitcoin fork inspired by and technically nearly identical to Bitcoin. The two main differences were a larger supply of coins and a shorter block generation time (2.5 minutes).

Litecoin was one of the first cryptocurrencies to follow in the footsteps of Bitcoin and has often been referred to as "silver to Bitcoin's gold." While Litecoin uses the same fundamental technology of blockchain and proof of work as Bitcoin, it also solves many of the issues holding Bitcoin back from widespread adoption. Litecoin was created by Charlie Lee, who remains involved with the coin to this day. He is an ex-Google employee who also worked at Coinbase for several years.

Therefore, Litecoin has more than enough trust among investors because it is backed by someone who knows what he is doing and has earned his credentials in the crypto space.

Ripple (XRP)

Ripple (XRP) is a coin that has a dedicated and loyal following. It's also one of the most promising projects in the top five. Ripple is an enterprise blockchain solution for global payments. It currently serves some of the largest financial institutions in the world, but its ambitions are to go much further than that.

Ripple aims to make global cross-currency payments cheaper, faster, and more transparent. It's built on blockchain technology, its own XRP cryptocurrency, and a network of validating servers known as the XRP Ledger. It's one of the few consensus mechanisms out there that doesn't rely on mining, making Ripple transactions extremely fast and cheap.

The Ripple project will take time, but it has already made significant progress in establishing itself as an enterprise solution for global remittance payments. XRP is also one of the most liquid cryptocurrencies today because so many exchanges offer it, and it's often paired with other digital currencies.

In our opinion, XRP is still undervalued based on its current use cases and potential future use cases. The price could easily double or triple just from being added to more exchanges or getting more traction among financial institutions worldwide.

Tether (USDT)

Tether is a blockchain-based cryptocurrency whose crypto coins in circulation are backed by an equivalent amount of traditional fiat currencies, like the dollar, the euro, or the Japanese yen, held in a designated bank account. Tether's crypto coins are called "tethers." One Tether is always equivalent to 1 USD.

Tether's goal is to allow people to use blockchain technology without having to convert their money into a more volatile cryptocurrency. The idea is that you can always redeem 1 USD₮ for 1 USD.Tether describes itself as "a blockchain-enabled platform designed to facilitate the use of fiat currencies digitally."

Effectively, this cryptocurrency allows individuals to utilize a blockchain network and related technologies to transact in traditional currencies while minimizing the volatility and complexity often associated with digital currencies.

Tether Limited (the company behind the cryptocurrency) claims that every issued Tether is backed by a 1:1 ratio with traditional currency held in their reserves. Tether Limited further claims that the tether token is pegged to the US dollar and maintains a one-to-one reserve ratio with respect to this asset class.

Due to its low volatility, Tether has been able to gain adoption from several major exchanges that use it as a base pair for trading cryptocurrencies against fiat currencies like the US Dollar (USD). This stablecoin also enjoys widespread adoption from merchants and consumers throughout the crypto space.

Final Thoughts

Bitcoin has been around for almost a decade. The problem is that people only hear about it when the price is sky high, when there's some possible tech upgrade that might propel it forward, or when the government is changing regulations. Still, there are other cryptocurrencies out there worth checking. If you're interested in holding assets long-term, you might want to consider giving one (or more) of these a try. While we can't predict the overall future value of any cryptocurrency, there are certainly many projects that have potential and a promising outlook.