What are the Safest Cryptocurrencies to Own during This Bear Market? Here’s What We Think: a blog about investing in securities and about the safest cryptocurrencies to own for the long term.
The crypto market has lost over $500 billion dollars in value since January of 2018. The top 10 cryptocurrencies have experienced huge losses as well. Bitcoin is down over 74%, Ethereum is down over 85%, Ripple is down almost 86%, and EOS is down almost 86%. While some of these tokens have rebounded a bit, they are still way off their all time highs.
While most of the cryptocurrencies have lost a lot of value, there are a few that have gained value during this period of time. There is one token that has gained over 7,000% since January 1st. Some people believe that this token will be worth millions of dollars one day: Decred (DCR).
Decred was created by the creators of Bitcoin (BTC), Litecoin (LTC) and Dogecoin (DOGE) in order to solve the problems they identified with other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Dogecoin (DOGE). Decred was launched
When it comes to safeguarding your cryptocurrency investments, it’s best to keep them off the exchange and in a secure wallet. The safest cryptocurrencies to own for the long term are often safer than fiat cash, which is subject to devaluation as a result of government policy.
The top 10 safest cryptocurrencies are ranked by market capitalization and are some of the most widely used coins in the world. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash all dominate their respective categories and will likely continue to do so for the foreseeable future.
The safest cryptocurrencies in descending order by market cap:
5.Bitcoin Cash (BCH)
6.Stellar Lumens (XLM)
Following the recent market crash, which has seen crypto prices fall by around 70%, a lot of investors are looking for safe havens in this turbulent market.
In this article, I’ll share with you our thoughts on some of the safest coins to own during this bear market.
I’ll also touch on what makes a coin safe and why some coins will ultimately recover faster than others.
So let’s get started!
Cryptocurrencies can be a volatile asset class. Yet, there are some cryptocurrencies that stand out from the pack in terms of their overall importance within the ecosystem and their long-term potential. These coins, which we believe are among the safest to own for the long term, are:
CRO and MCO
BAT, OMG and ZRX
Bitcoin and the crypto market are slowly recovering from the bear market which saw them plummet to the lows of the year. Bitcoin is currently trading at $6,300 after having dropped from its year high of almost $20,000. The entire crypto market is down by around 65%.
However, a number of cryptocurrencies have been able to maintain their value or even grow during this bear market. These cryptocurrencies have some of the most advanced technology in the industry and also boast solid backings. They are also expected to grow in value once the bear market ends.
In this article, we will take a look at some of these ‘safest’ cryptocurrencies in the current market conditions. The cryptocurrencies were selected based on their fundamental analysis results and market performance during this bear market.
Cardano is one of the fastest growing blockchain projects in the world right now. The project is still being developed but it aims to be a more advanced version of Ethereum (ETH). Cardano has also been dubbed ‘the Japanese Ethereum’ as it was developed by an IOHK team led by Charles Hoskinson who was an original co-founder of Ethereum.
The Cardano team has managed to make a lot of progress since its launch last year.
The crypto market has been on a long, painful downtrend for the past few months, and there’s no clear indication of when it will end. With volatile assets like cryptocurrencies, we can only expect to see further price swings in both directions, resulting in many sleepless nights for traders and investors.
One of the most important things you can do is to choose your investments carefully. Diversification is a good strategy, but a much better strategy is to understand the assets you are investing in. If you truly believe in the fundamental value of an asset, then short-term price fluctuations will not matter because you know it will recover over time. Let’s take a look at some of our favourite coins that we plan to hold for the long term.
Cryptocurrency markets are still in a very early stage. The majority of people are still buying and trading Bitcoin (BTC) and few altcoins. This is not surprising, since BTC is the most liquid and has the largest capitalization by far. However, it is important to understand what goes on behind the scenes.
Binance’s CZ had a conversation with Bloomberg recently about how different cryptocurrency projects are trying to position themselves in the market. He mentioned that, according to his observation, there are roughly three different types of cryptocurrency investors:
1) “People who want to get rich quickly…they’re not looking at anything else other than price action and volume”
2) “People who want to make money over time, but they might be willing to take a little bit more risk”
3) “People who want to change the world…they don’t really care about price action or volume; they care about adoption and usage. They really want these things to succeed. And if they do succeed, they will make some money on them over time”