The Two Best Cryptocurrencies to Invest in Right Now and Keep Forever

In recent years, the cryptocurrency industry has surged. According to CoinMarketCap.com, there are now over 8,620 cryptocurrencies in circulation, with new tokens appearing on a regular basis. More crucially, the cryptocurrency market’s total value has increased by almost 1,000 percent in the last two years, hitting $2.25 trillion. No other asset class has come close to matching that level of performance.

Cryptocurrencies are, of course, extremely volatile, and previous success is never a guarantee of future results. However, if you’re a risk-averse investor with a long time till retirement, I believe it’s a good idea to have a small bitcoin stake (maybe 5%) in your portfolio. With that in mind, long-term investments in Bitcoin (CRYPTO: BTC) and Chainlink (CRYPTO: LINK) appear to be sound.

This is why.

Bitcoin:

Bitcoin is based on blockchain technology, which is a distributed database that exists across a network of nodes (or computers). And because the database is encrypted, miners (rather than banks) are in charge of confirming transactions and combating fraud. To put it another way, Bitcoin allows you to spend money online without the assistance of a financial institution. However, the network is much too sluggish to make Bitcoin a viable alternative to current payment systems.

Bitcoin’s source code, on the other hand, restricts its supply to 21 million tokens, a feature that has prompted analogies to other limited assets. Bitcoin is frequently referred to as “digital gold.” And, if supply remains constant, economic theory predicts that increased demand would result in higher pricing. So here’s the question: Will Bitcoin demand continue to rise? Yes, I believe the answer is yes.

Bitcoin’s market value has risen to almost $900 billion since its inception in 2009, indicating its growing appeal among investors — and I’m not just talking about regular traders. According to a recent Fidelity report released in September, more institutions are investing in digital assets, and this trend is expected to continue. For example, whereas 71% of individuals polled intend to own digital assets in the future, just 52% now possess them.

More significantly, among institutional investors, Bitcoin is the most widely owned digital asset. Assuming that trend continues, Bitcoin’s price should grow as more institutions incorporate cryptocurrencies into their investing portfolios.

Chainlink:

Avalanche and Solana, two cryptocurrency initiatives, have contributed to the growth of blockchain technology by developing use cases that go beyond a basic payment mechanism. Avalanche and Solana are programmable blockchains, which means that developers may use them to create self-executing computer programs (smart contracts). And Chainlink was created to improve the use of smart contracts.

Blockchains, in general, are unable to communicate with real-world systems, which means they are not privy to the data that the rest of us rely on. Smart contracts are at the heart of decentralized financial (DeFi) systems, thus this is a concern. DeFi also claims to make financial services cheaper and more accessible by removing intermediaries. However, without real-world data, those products are useless.

Consider a DeFi marketplace where you may buy and sell artwork, real estate, and other items. The underlying smart contract would need to be aware of the assets’ current market prices. You could question, why not have someone manually enter the price? That’s a wonderful concept, but enabling any single individual to decide the price would jeopardize the smart contract’s decentralized nature and create a single point of failure. Chainlink is a solution to this issue.

Chainlink is a decentralized network of oracles that uses the LINK token as its fuel. Oracles are entities capable of bringing real-world data onto any blockchain (e.g., application programming interfaces). Oracle node operators (those in charge of the network infrastructure) are also obliged to stake, or promise, LINK in order to participate; they are compensated in LINK.

Let’s imagine you wish to acquire a piece of property, like in our prior scenario. The smart contract would ask Chainlink for price information, after which node operators would bid on the task and the Chainlink protocol would choose operators to complete the request. In this situation, the operators might collect data from real estate appraisers and then send it to Chainlink individually. The key aspect is that several data points are reconciled to achieve an accurate conclusion while keeping the network’s decentralized structure.

What exactly is your investing thesis? Chainlink is the most well-known and biggest oracle network. Demand for Chainlink oracles should increase as more smart contracts are built to integrate real-world data. Because those oracles are paid in LINK, demand for the token should climb as well, driving up the price. It’s worth mentioning that, like Bitcoin, the quantity of LINK is limited, with a maximum of 1 billion tokens in this instance. Chainlink is also compatible with any blockchain, which means its long-term development possibilities aren’t dependent on the success of any particular network. That’s why Chainlink appears to be a good investment.

Cryptocurrencies are, of course, extremely volatile, and previous success is never a guarantee of future results. However, if you’re a risk-averse investor with a long time till retirement, I believe it’s a good idea to have a small bitcoin stake (maybe 5%) in your portfolio. With that in mind, long-term investments in Bitcoin (CRYPTO: BTC) and Chainlink (CRYPTO: LINK) appear to be sound.

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