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2 cryptocurrencies you should buy today and hold long-term

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22 December 2021   |   9:16 pm
There's been a huge surge in interest in cryptocurrencies in the last year or so. As prices have skyrocketed and crashed, more and more people have gotten interested in buying these digital tokens.  While there are hundreds of different cryptocurrencies to choose from, not all of them are worth your investment. This blog post will…

There’s been a huge surge in interest in cryptocurrencies in the last year or so. As prices have skyrocketed and crashed, more and more people have gotten interested in buying these digital tokens. 

While there are hundreds of different cryptocurrencies to choose from, not all of them are worth your investment. This blog post will talk about two specific cryptocurrencies that we believe are worth buying today and holding long term. So without further ado, let’s get started.

Digital Gold: Bitcoin
Bitcoin is a digital currency and store of value, but it’s also so much more than that. It’s an experiment in trade and economics that could change the world as we know it. Bitcoin has been around for over twelve years now, each day bringing new challenges and opportunities to those who choose to learn about this revolutionary technology. 

The concept of cryptocurrency first emerged during the 2008 financial crisis to create a decentralized system where no government or company can control the money supply or economy by dictating interest rates or implementing other monetary policies – sound familiar?  Bitcoin was created because there was an urgent need for something that could be trusted and transferred instantly without fees, transaction errors, third-party interference, hacks, etc., like fiat currencies (USD).

Why is Bitcoin Considered Digital Gold?

Bitcoin is the most well-known cryptocurrency in the world. It’s also one of the oldest, with its origins dating back to 2009. Bitcoin has gone through several ups and downs in its history, but it has always recovered from them. The digital currency is decentralized and not controlled by any central authority like banks or governments; users can’t get their money frozen or seized if they live in countries experiencing financial crises like Venezuela, Egypt, Turkey, Iran or Zimbabwe. 

We all know that Bitcoin is a digital currency, but some say it’s just a fad. If you have countries like Russia and China banning cryptocurrency trading, you can be sure that this is not the case. Most people consider Bitcoin as digital gold because of its scarcity and how difficult it is to mine. 

It’s also decentralized, which means no one has any control over it, making it immune to inflation or manipulation by governments. And lastly, there will only be 21 million Bitcoins ever created, so they’ll always hold their value in the future when fiat currencies devalue due to inflationary measures imposed by central banks. 

Digital Silver: Litecoin
Litecoin is an alternative to Bitcoin that was created in 2011. Litecoin has one of the largest market caps among cryptocurrencies, and it’s believed to be digital silver. Litecoin is a great investment for anyone who believes cryptocurrency will become mainstream someday but would like to hedge against inflation risk by investing in something other than Bitcoin.

Why is Litecoin Called Digital Silver?
Litecoin has been seen as the silver to Bitcoin’s gold, and it uses scrypt encryption, which makes it easier for people with less powerful computers (i.e., smartphones) to mine this coin. It also offers faster transactions than Bitcoin. 

Litecoin is an open-source, global payment network that allows anyone anywhere in the world to send and receive payments without having any transaction fees or relying on a central bank as other currencies do. The founder of Litecoin, Charlie Lee, said he designed Litecoin because he wanted something better than Bitcoin.

Bottom Line
So there you have it. We believe that these two coins will be worth holding on to for the long term if you’re interested in investing in cryptocurrencies. There are a lot of factors to consider when trying to decide which one is best, but hopefully, this blog has given you some good ideas about where to start.

If you are considering exploring the world of cryptocurrencies, there is no better place to start than Bitcoin Prime