A long-term investment in these cryptos could result in generous portfolio growth
Source: Chinnapong / Shutterstock
When retail investors look for stocks, they typically consider factors such as financial performance, product lines and reputation history before investing.
However, as investors look to cryptos, the uncertainty of the market and the relative newness of the technology lead to a different investment style. That’s because cryptocurrencies have the potential to multiply a $1 investment into $1,000 if purchased at the right time.
This type of investing is extraordinarily risky, especially because so many crypto projects hide behind mountains of incomprehensible white paper jargon. Therefore, many new crypto projects are breeding grounds for scams.
Furthermore, nothing is certain in the crypto industry Projects disappear overnight. Therefore, buyers should be particularly careful with their bets if they are trying to increase their money by 1000x. However, for investors who want to do just that, these could be the three best cryptos to buy to achieve exponential growth over the next six years.
Bitcoin (BTC USD)
Source: Shutterstock.com/Unknown Man
Although it seems like an odd choice now that it is nearing its all-time high, Bitcoin (BTC USD) is arguably the best cryptocurrency to invest in long-term. It has the longest history, is the most widely traded, used and accepted, and has an entire industry dedicated to mining it. Bitcoin is the defining example of a cryptocurrency and therefore still has the greatest economic potential.
However, investing in Bitcoin cannot be compared to investing in any other cryptocurrency as it requires a different level of commitment. Instead of trying to time the market, buying Bitcoin is more like a savings account. In this format, the best strategy is to set aside an amount of money you want to invest at a set interval and watch how your average position price evens out.
Over time, Bitcoin’s gradual ups and downs could result in your position being worth hundreds of times more than you originally invested.
Ethereum (ETH-USD)
Source: Filippo Ronca Cavalcanti / Shutterstock.com
The eternal runner-up to the long-term success of Bitcoin, ether (ETH-USD) continues to grow in parallel with the broader crypto market. Similar to buying Bitcoin, buying Ethereum also depends on time In the market takes place timed coordination the market. Therefore, ETH investors who can keep a cool head as cryptocurrency attitudes fluctuate stand to benefit the most.
As the world’s largest altcoin, Ethereum is also significant due to its advanced technical features and its central ties to the development of blockchain technology. This is because ETH is an open-source blockchain, meaning any developer can access it and create new and improved products.
Additionally, it has smart contract functionality to make it more attractive to developers and investors in decentralized finance (DeFi). Thus, Ethereum is more like an actively developing network maintained by developers who receive ETH coins as payment for their work.
While some predict it will hit $40,000 by 2030The ups and downs of the crypto market will provide extensive opportunities to average positions over time.
Solana (SOL-USD)
Source: Shutterstock
Often referred to as the “Ethereum Killer.” Solana (SOL USD) has experienced greater price fluctuations than the other two cryptos on this list. While not necessarily the latest technology, its increasing adoption and use cases in the crypto market have helped it regain some of the ground it lost after 2022’s crypto bear market wiped out its gains had.
Solana has now recovered a majority of those losses two years later. But where could it be in 2040?
Well, a lot of that depends on how much adoption continues to drive the price. Luckily, Solana is currently one of the cheapest and fastest blockchain networks on the market. This is why so many of the popular meme coins are common Rely on his network.
In order for investors to realize exponential returns when investing in Solana, it is important to keep an eye on the company’s continued competitiveness in the open source blockchain sector.
At the time of publication, Viktor Zarev did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.