10+ Best Crypto to Buy Today for Long-Term | CoinCodex
Even though the cryptocurrency markets are highly volatile, many crypto investors prefer to HODL their coins for extended periods of time and ignore short-term price movements. For many, this has turned out to be a profitable strategy. However, the difficult part is to choose which is the best crypto to hold long term.
In this article, we’ll be highlighting more than 10 cryptocurrencies that have strong long-term potential.
The best long term cryptocurrency projects
We chose 12 crypto assets that have either already demonstrated a lot of longevity, or are positioned well to take advantage of future cryptocurrency bull markets. Our list covers payments-focused cryptocurrencies, smart contracts platforms, DeFi protocols and much more.
Without further ado, here is our list of the best long term crypto projects:
- Bitcoin — The first and most valuable cryptocurrency
- Ethereum — The leading decentralized smart contract platform
- BNB — BNB Chain’s native asset and key part of the Binance ecosystem
- Monero — The most popular privacy coin
- Polygon — An Ethereum-compatible platform with improved scalability
- Filecoin — A decentralized storage platform that incentivizes participants with crypto
- Cardano — A decentralized smart contracts platform
- Chainlink — Decentralized oracle network
- Tezos — A decentralized smart contracts platform with on-chain governance
- Polkadot — An ecosystem of connected blockchains
- Maker — The DeFi protocol behind the Dai stablecoin
- Solana — A high-performance decentralized smart contracts platform
Bitcoin (BTC) is the first cryptocurrency ever invented, and it has remained the world’s most valuable cryptocurrency ever since its launch in early 2009. Bitcoin was created by someone using the pseudonym Satoshi Nakamoto, whose real identity remains a mystery to this day.
The big innovation of Bitcoin is that it is a peer-to-peer digital currency which is extremely secure and censorship-resistant. This is possible thanks to its decentralized design, which allows anyone in the world to help secure the network by running a Bitcoin node. Users can also choose to mine Bitcoin to earn a reward in the form of newly issued BTC coins. The mining process ensures that it’s extremely difficult for anyone to edit the ledger of transaction or double spend their coins.
Bitcoin was initially an obscure project that mostly appealed to cryptography enthusiasts and “cypherpunks”. However, it didn’t take long for a broader audience to catch on to the unique properties of Bitcoin, and a vibrant global market for BTC emerged by 2012 and 2013. BTC continued to grow in the following years, and hit a market capitalization of $1 trillion for the first time ever in 2021.
Why is Bitcoin a good crypto to buy for the long term?
If you think that cryptocurrency has long-term potential, it’s very difficult to argue that Bitcoin won’t continue to be one of the leaders in the space. Bitcoin is stil easily the largest cryptocurrency by market capitalization, and while it’s feasible that it will be overtaken at some point, it will most likely continue to play an important role.
Bitcoin is an attractive asset to hold long-term thanks to its predictable monetary policy. There is a hard cap on the Bitcoin supply—only 21 million BTC will ever be created. In addition, the amount of new BTC flowing onto the market can be estimated very accurately thanks to mining difficulty adjustments and Bitcoin halvings. As a result, many investors view Bitcoin as sound money, which is likely to provide steady demand and help BTC recover from its bear market lows.
Of course, the Bitcoin protocol has also demonstrated a lot of resilience, and has been securing large amounts of wealth for well over a decade. BTC has delivered substantial profits to long-term holders. With each passing year, confidence in Bitcoin will increase if the protocol continues to perform as expected. This makes BTC one of the best long term crypto investments for 2023 and beyond.
Ethereum (ETH) is a cryptocurrency that was released in 2014 and revolutionized the crypto space by introducing smart contract functionality, allowing developers to create decentralized applications on top of the network.
Ethereum goes beyond the simple transaction functionality offered by Bitcoin. It serves as a platform for cryptocurrency trading platforms, financial services, non-fungible token marketplaces, decentralized autonomous organizations and other types of DApps that run in a completely trustless manner. All operations are automated through the use of smart contracts.
One of the reasons why Ethereum initially got popular is that it allows users to create custom tokens that are transacted on the Ethereum blockchain similarly to ETH. Projects quickly realized that this could be used to raise capital and we saw a wave of Initial Coin Offerings (ICOs) that reached fever pitch in 2017. While ICOs mostly went out of style in the following years, there’s still many projects on Ethereum that are issuing their own tokens and building fascinating applications.
Since September 2022, Ethereum is using a Proof-of-Stake consensus mechanism, which makes it a lot more environmentally-friendly than Bitcoin.
Why is Ethereum a good crypto to buy for the long term?
Even though there are countless “Ethereum killers” looking to take Ethereum’s crown, Ethereum remains the undisputed king of the smart contracts space. With several improvements in the pipeline, it’s likely that Ethereum will remain the leader in this sector. While Ethereum is currently expensive to use because of its high transaction fees, future upgrades such as sharding will make it much cheaper (and faster) to use.
A common criticism of ETH as an investment has been that it doesn’t have a hard cap on its supply. The shift to Proof-of-Stake, combined with EIP-1559, have contributed to making ETH a much more attractive asset to hold for the long term.
This is because the Ethereum protocol needs to issue fewer ETH tokens to reward staking validators compared to the amount it had to issue to reward miners. On top of that, EIP-1559 is burning the base transaction fees for all transactions, so the growth of the ETH supply has slowed down a lot and could even become deflationary. With this in mind, it’s not hard to see why ETH could be the best crypto for long term investors.
BNB (BNB) is a cryptocurrency that was initially issued in 2017 by the Binance cryptocurrency exchange on the Ethereum network. In 2019, BNB was migrated over to its own blockchain called Binance Chain, where it serves as the native asset—similar to the role ETH plays on Ethereum. BNB is used widely in the Binance ecosystem, providing discounted transaction fees for traders on Binance and allowing them to access special features like Binance Launchpad token sales.
In 2020, Binance launched Binance Smart Chain, an EVM-compatible blockchain platform that extended the functionality of Binance Chain by adding smart contracts with basically the same functionality as Ethereum. A simple way of describing the platform is that it’s a more centralized version of Ethereum that offers better performance (faster and cheaper transactions).
Thanks to its low transaction costs, Binance Smart Chain gained huge traction in the 2021 cryptocurrency bull market. In February 2022, Binance rebranded BNB and its associated blockchain platforms to better reflect the fact that an independent ecosystem has grown around BNB:
- Binance Coin (BNB) = BNB (BNB)
- Binance Chain = BNB Beacon Chain
- Binance Smart Chain = BNB Smart Chain
Why is BNB a good crypto to buy for the long term?
Simply put, BNB is the biggest crypto asset at the moment that isn’t Bitcoin, Ethereum, or Tether. The BNB Chain ecosystem is seeing impressive amounts of usage, and there’s also a lot of demand for BNB coming from users of the Binance cryptocurrency exchange.
In the 2022 cryptocurrency bear market, Binance has solidified its position at the top of the crypto exchange industry. Its position became even stronger after FTX, one of Binance’s biggest rivals, collapsed in dramatic fashion.
Even though Binance has made an effort to create some distance between the business and the BNB cryptocurrency, there’s still a lot of correlation between the two. Holders of the BNB cryptocurrency should be aware that if there’s any issues with Binance as a business, the value of BNB will also likely take a hit as well.
Monero (XMR) is a privacy-focused cryptocurrency that launched in 2014. It was originally a fork of the Bytecoin cryptocurrency, but was enhanced over the years with new features that make it a unique contender in the crypto market.
Monero utilizes technologies such as RingCT, Stealth Addresses and Ring Signatures to make it virtually impossible to trace the amounts and addresses involved in any given transaction, while still making it possible to demonstrate that nobody is cheating the protocol by spending coins they don’t have.
Monero is secured through a Proof-of-Work consensus algorithm that’s optimized for widespread participation. For example, while Bitcoin can only be profitably mined with specialized ASIC hardware, Monero can be mined with consumer-grade CPUs and GPUs. This ensures that the network of Monero miners is large and diverse in terms of geographic distribution, making the network difficult to compromise.
Monero’s strong privacy features have resulted in some controversy, as XMR has gained considerable traction for illicit uses such as darknet markets. However, there are certainly also a lot of legitimate reasons why users would want to protect their privacy and Monero can be a powerful tool for enhancing freedom.
Why is Monero a good crypto to buy for the long term?
Monero is dominating the privacy coin sector, and has a very active community of dedicated users. The project has been going strong since 2014, and Monero is regularly updated with new features that improve its privacy and security.
XMR’s track record suggests that it’s going to be around for a long time—it has a straightforward use-case of facilitating private and secure transactions, at which it excels. It’s likely that Monero will stay relevant in the future regardless of cryptocurrency industry trends.
One of the biggest risks to watch out for when it comes to Monero is regulatory risk. In some jurisdictions such as Japan, regulators have been pressuring cryptocurrency exchanges to delist privacy-focused cryptocurrencies such as Monero and Zcash.
Polygon (MATIC) is a Proof-of-Stake blockchain platform that’s compatible with Ethereum. It has emerged as one of the most popular Ethereum alternatives after Ethereum started suffering from high transaction fees. Polygon’s native asset is called MATIC, and it is used…
Read More: 10+ Best Crypto to Buy Today for Long-Term | CoinCodex
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