Patience is a virtue that many lacks. But if you are an investor who is patient with your investment and you are trying to get into cryptocurrency investment, this article is for you. Africa is currently the leading continent in peer-to-peer cryptocurrency trading. The problem with this is that even though people make profits from the trade, the margins on the profits are not that high. If history has taught us anything, people who invest in things long-term make the biggest profits compared to investors who do it short-term. With this said, it is advisable to spread your investment into different investments in case one fails; the other covers the losses. If you are interested in cryptocurrencies that have a history or the potential to have a high rate of growth long term, here is a list of the best you should consider investing in in 2022.
Ethereum
Many cryptocurrency tokens will have a high growth rate in the long term, but Ethereum has the potential to have the highest growth rate among them; some of the reasons why this is the case include that Ethereum is going through an update soon. The update called the Merge will shift the token’s performance from proof-of-work to proof-of-steak. After the change, the rate at which Ethereum was being produced will be reduced by almost 90% in a day. When this happens, the supply of Ethereum will reduce while the demand either remains constant or increases. As a result, the cost or worth of Ethereum will increase at a high rate. Currently, Ethereum is worth $3,052.18. The price of one Ethereum token may get to 5 digits in the next several years. Due to the upgrade, people can invest in Ethereum long term in two main ways. The first and most common is buying Ethereum tokens and holding, while the second is investing as validators, who will have proof of stake in Ethereum.
Bitcoin
There is no talking about long-term cryptocurrency investment without talking about Bitcoin. Bitcoin was the cryptocurrency that had the biggest impact on the market. When the token was introduced, it was worth cents, but it is now worth $40,049.60 at the time of writing this article. The reason to invest in Bitcoin is that Bitcoin will have a huge impact on the future of the world, according to economists. Currently, there is a financial revolution happening globally, and many people, organizations, and countries will likely consider Bitcoin as a store of wealth to shelter them from the financial crisis that is about to happen sooner than people think. When this happens, investors who had invested in Bitcoin earlier will benefit long-term as the value of the currency skyrockets.
Binance Coin.
Binance coin does not have the impacts as Bitcoin and Ethereum do in the world. But what differentiates Binance coin from the rest as a long-term investor are the services offered on their platform. There are many long-term investment options on the platform, and people have the opportunity to make huge margins on their investments. Currently, one Binance coin is worth $419. People should consider investing their savings in the platform long term.
