5 Safest Cryptocurrencies to Invest in for Your Retirement
Before crypto blew up no one thought that someday you will end up keeping something “imaginary”, on some web or whatever as your nest egg for retirement.
This is really how every innovation works, and this is the way smart people and those that dare to risk get rich. When crypto first started there was probably a handful of people that dared to risk and put any money into it. Now those happy few are probably the biggest crypto wales on the market. Some mined crypto stored it on a disk and were so careless with it that they threw an entire fortune that was on that disk, away in the trash. This is because most of the brave ones at the time didn’t give it enough credit or chance. No one hoped that crypto will be where it is now.
The reality, several years later, is that we are now scraping for whatever crypto looks the best and trying to buy as much as possible to get any benefit out of it or to save it for retirement. When it comes to owning crypto there are two types of holders – users/traders and those who are saving it. Today we will address the latter ones and we will try to bring you closer to some of the cryptocurrencies that you should invest in as your retirement nest egg. If you end up deciding on one of these cryptos we are about to tell you, visit the-cryptogenius-pro.com/pt and get as much as you feel comfortable with.
1. Bitcoin (BTC)
This is probably the most obvious path to go if you want to invest in a crypto that has a huge long-term potential. Bitcoin was the first crypto and it has spawned many others that somehow are not yet as successful as it is. Any portfolio looking to form a retirement fund should have some Bitcoin. The thing we are suggesting here is to diversify and not put all your eggs in one basket. Do not take all of your savings and put it into Bitcoin, take some and invest because you want to hold at least some of this crypto for the future. For those that don’t know there are around 450.000 Bitcoins in Grayscale Bitcoin trusts which are your investment funds. Bitcoin is your no-brainer and a go-to option when these types of investments are in question.
2. Ethereum (ETH)
Another no-brainer, especially when it comes to long-term investments. This is the second-largest coin by market cap. Ethereum is a platform but Ether is the coin you will be investing in, but most of you probably knew that already. The main thing that differentiates Ethereum from Bitcoin is the fact that it runs smart contracts which are lines of computer code that get executed automatically when certain conditions from the contract are met. As you could read lately everyone are jumping aboard smart contracts and developers are making apps that will be based on these, so Ethereum and its coin Ether has a huge potential in the future. This is exactly the reason why it is in our second spot, as crypto that can allow you to heave an awesome retirement fund.
3. Cardano (ADA)
This is yet another smart contract platform but it aims to be a little bit better than Ethereum. It is a feat of its own which is why we believe that Cardano will keep growing and developing as time passes. They are looking to better themselves in terms of speed, scale and energy efficiency which are all the things that are always discussed. Unlike Ethereum, Cardano operates on what is called the “proof of stake” consensus model and that means that Cardano allows people that are holding it to verify and validate transactions. This means that the more of this token you hold the better the chances to get these tokens (in a form of a reward) back to you in a form called proof of stake. This incentivizes the stakeholders of this coin to stay on the Cardano network and it is brilliant.
4. Internet Computer (ICP)
Internet Computer Coin or ICP was created by the Dfinity foundation which is a non-profit scientific research organization that managed to raise $121 million from a lot of different and popular venture capitalists. They have been working on this very silently for the past 5 years, but what is even more intriguing is that on its ICO day it was immediately trading at Coinbase Pro which is extremely hard to accomplish because a coin has to exist for some time in order Coinbase to adopts it. But why is there so much hype around this particular coin? As you all know the internet is a network that connects everyone and everything and as a result, it is extremely privatized, meaning that everything runs on private infrastructure. Dfinity and ICP are trying to decentralize that whole experience for not only developers but also entrepreneurs as well. What this means is if you are a developer and want to develop anything on the internet you have to face what is called platform risk. An example of that is your app that is selling on the Apple App Store. Every time you make a sale App Store takes 30% of that, and the worst part is that they can increase those percentages and you really wouldn’t have a say in that at all. ICP is trying to bypass this and allow you more freedoms, but they are also trying to save you from situations like platforms going down totally. If you use TikTok or any other platform for your income if it goes down you are done.
5. Chainlink (Link)
Chainlink looks to connect smart contract technology to the outside world. The problem that developers are facing is getting input info from the outside world to the smart contracts so it has all the dots connected and that it can have all the conditions met so it can be accomplished if you like. Chainlink is the bridge between that gap and it is trying to achieve its success through Oracle. Oracle is a third-party service that is inputting outside data into the blockchain. To verify the data, meaning find corruptions, truth or lies and accuracy of it, chain link gets that data from several different Oracles and discards any outliers or corrupt data and makes sure that what is left validated and honest. It has a huge potential since, as we already discussed many are talking about implementing smart contracts into our daily lives.