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2 Top Cryptocurrencies to Buy for the Long Haul

2 Top Cryptocurrencies to Buy for the Long Haul
Written by publisher team

Do you want to invest in a cryptocurrency that might actually be beneficial? look no further than Cardano (CRYPTO: NO) And ripple (CRYPTO: XRP). While blockchain technology is still far from mainstream, these networks will help encourage its adoption with potential use cases in the development of decentralized applications and cross-border payments. Let’s dig deeper.

1. Cardano

Over 1,000% annually to date to a market capitalization of $67 billion, Cardano’s ADA token is the sixth largest cryptocurrency on earth. And while the asset has already enjoyed a great run in 2021, it appears poised for continued growth as developers expand the capabilities of the programmable blockchain.

Image representing the Cardano coin.

Image source: Getty Images.

unlike BitcoinDesigned to serve as a store of value and a medium of exchange, Cardano allows users to create complex decentralized applications (DApps) on its network. DApps are self-executing programs that allow users to interact on the blockchain without a central intermediary. They include decentralized cryptocurrency exchanges and digital art markets.

The jury is still out on whether DApps outperform their mainframe counterparts (it’s largely a matter of preference and privacy concerns). But they can boost Cardano’s rating because they use its native code, ADA, to drive fees and transactions on the network. In September, IOHK, the developer behind Cardano, announced plans to create an authorized DApp store to help boost the security and discovery of Cardano-based DApps — a move that could help boost adoption.

Cardano is not the only public blockchain optimized for DApp development, but cryptography is not a zero-sum game. The opportunity appears to be growing fast enough for many competing assets (including Ethereum And Solana) to coexist without “killing” each other.

2. ripple

Ripple is a blockchain network that facilitates cross-border transactions with its XRP token. Founded in 2012, Ripple has risen to become the seventh largest cryptocurrency (with a market cap of $55 billion), and can sustain its growth rate by laser-focusing on solving real-world problems in the payments industry.

According to data from Research and Markets, the global digital remittance market (immigrants usually send money to friends and family back home) It is expected to expand at a compound annual growth rate (CAGR) from 13.3% to $42 billion by 2028 as globalization and migration drive the need for financial connectivity. Ripple could capture a large part of this growth due to its extremely low transaction cost of 0.0001 XRP (less than a penny) and almost instant transfer times, compared to one to five business days for a traditional bank transfer.

Technically, most cryptocurrencies can be used for cross-border payments. But Ripple’s competitive advantage comes from its high transaction capacity of 1,500 per second (compared to Bitcoin 4.6) and its burgeoning mainstream adoption.

According to its website, more than 100 financial institutions have partnered with Ripple’s blockchain network (RippleNet), including Santander And American Express. The platform helps businesses transfer funds across 55+ countries and 120 currency pairs with the option to use the XRP token for liquidity.

Long term investment

It can be tempting to bet on risky meme coins in the hope of getting rich quickly. But tokens with strong fundamentals are more likely to stand the test of time due to their real-world applicability. Cardano and Ripple fit the bill, making them great long-term investments.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of the Motley Fool Premium Consulting Service. We are diverse! Asking about an investment thesis — even if it’s our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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