I should note from the very beginning that I am not telling you to invest in cryptocurrencies, and I am not saying that the advice that I will give you will make you any money. You should never invest any more money than the amount you can afford to lose. I personally have seen an increase in my investment in cryptocurrencies, and it has been a super return in a short amount of time, but it is a volatile market and I hope that you think long and hard prior to investing your hard earned money. With that said, I would love to tell you more about investing long term!
Long term investing is perhaps the safest type of investing when it comes to cryptocurrencies. If you remember thinking to yourself recently, “I wish I had invested in Bitcoin 4 years ago,” then you are probably an investor that should consider long term investments rather than the hyped up “day trading” philosophy. If you had invested a small amount of money into Bitcoin years ago, it would be worth a bundle today. If you had bought and sold your Bitcoin daily, you may have fallen short of the profitable future you could have had because you may have gotten out of Bitcoin only to realize the price wasn’t dropping and it would have made it that much harder to get back in.
Perhaps the wisest investment that experts say to make today is that of Ripple, or XRP. XRP is a cryptocurrency that has a bright future, and is second only to Bitcoin in terms of value as this article is being written. The prices of each cryptocurrency fluctuate daily, so when you read this article it is likely that XRP is no longer in the second position to Bitcoin, and hopefully it has passed it immensely as this is one that I feel strongly about that I personally have funds invested in. Ripple was trading at approximately .70 cents just a week and a half ago, and has already surpassed $2 just a week and a half later, holding strong for those long term investors. One expert suggests that if Ripple can surpass $10, then it will easily make it to $1,000 or much past that! The Market Mogul suggests that Ripple should increase to many times $100 within the next 3 years, which means that it’s a long term play, and really an ideal investment for a long term investor right now. If you wait 2 years to invest in Ripple, who knows what the cost will be to get in, but right now it’s not even at $3 per XRP.