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3 Best Safe Bluechip Cryptocurrencies To Invest Now
Cryptos are the fast and steadily adopted asset class that has enabled investors to even take out their initial cost and some even are sitting at huge profits. While the profits should surely be booked partially if the case be as the asset class is highly uncertain, here we are listing out few cryptos that may enable you to create long term wealth and together has a host of benefits. Additionally, these like stocks are classified as bluechip cryptos being highly safe as well as commanding a repute of a larger crypto asset.
Interestingly like assets such as real estate, gold, one can also use and invest in crypto for building wealth over time and it is said that typically cryptos or digital assets can enable long-term investors in accumulating wealth and not the short term investors. So, on an overall basis, engaging in daily trades can be a harmful strategy to go by in cryptos, rather what may pay-off shall be the -hold and forget strategy.
1. Bitcoin:
The oldest and the most prominent among all the digital assets in existence today, bitcoin's bull case is being studied in an depth way. Currently, only, the currency has scaled to its near all time high levels after the SEC has given approval for its ETF that would mean engagement of more and more investors into the asset class. The currency commands an almost 40 percent of the total crypto market cap.
Also, the currency similar to an exchange currency is being increasingly used as a payment method. The bluechip crypto in the current year has hit two milestones first of being used as a legal tender in El Salvador and Bitcoin becoming the part of Tesla's balance sheet.
The Risk-
High volatility should not unnerve you as it is the inherent characteristic of the token and indeed if you are a long term investor, this should not be your concern. Also, it is highly costly and cannot be taken on by every other investor and hence SIPs in cryptos have been started to address the issue.
The Return potential of Bitcoin-
Considering the last 9 year price trend on bitcoin, crypto author Glen Goodman has extrapolated a potential peak for BTC this cycle at around $150,000. This could be followed by a major correction to around $20,000, though he warns that this lower bound could be hit before the top end is reached.
2. Ethereum:
This is another blue chip crypto that is slowly and gradually chipping away bitcoin's share of the overall crypto market. The asset shares a dissimilarity with the mainstream bitcoin in the sense that it also allows developers in creating their own cryptos utilizing the Ethereum network. The unique technology has enabled the crypto to surpass some of the other cryptos that came in before Ethereum.
The Risks:
There is only a single lane for executing transaction on the crypto backed by blockchain and hence in case of overload, the process can take longer.
The Return potential of Ethereum-
On its popularity, the crypto is said to hit and surpass levels of $4900 as per the technical analysts at Fundstrat. The research house said the ethereum token's market share has grown in recent days, which its analysts believe is a bullish signal for the world's second-biggest cryptocurrency.
3. Cardano:
It is the youngest when compared to the other 2 specified bluechip cryptos and fourth in the list in terms of market capitalization. There is a cap on the number of ADA coins that can exist at 45 billion. There is a proof of stake protocol being used which incentivizes users for establishing new blocks. And this is believed to be far more energy efficient in comparison to proof-of-work algorithm being used by bitcoin.
Also, in comparison to the other 2 cryptos it is a more affordable choice with price at just $2.15 per token while the other two i.e. bitcoin currently is hovering above $62k, while the price of Ethereum is at $3860 per token.
The recent Alonzo upgrade will enable introduction of smart contracts to its blockchain. Further the hurdle that it can be introduced in the Japanese market has also helped the crypto spur in price. So, with a better energy usage, it is also the best climate-friendly cryptocurrencies to buy on the market right now.
Upside potential of Cardano:
The Cardano Crypto price is expected to reach $3.83 in 2021, $7.70 in 2022, $8.93 in 2023, and $15 by the end of 2025, according to the Economy Forecast Agency platform.
Disclaimer:
For some of the investors investing in cryptos has been highly lucrative and here we have listed some safe cryptos to consider for investment. Though investment advice isn't given out in the story. Also do note investment in crypto can be highly risky and hence you should invest only that amount that you can afford to lose into cryptos.
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