What cryptocurrencies below $6 are worth investing in for the long term?

  • The CEO of MicroStrategy Inc. said that cryptocurrencies represent a high risk and high volatility asset for the short-term investor.
  • But for one with a 10-year perspective, it’s a low-risk store of value.
  • While BTC and ETH lost over 30% during the recent market crash, ADA held its ground and traded between $0.5 and $0.42.

In the words of Michael Saylor, CEO of MicroStrategy Inc., cryptocurrencies represent a high-risk, high-volatility asset for the short-term investor. But for one with a 10-year perspective, it’s a low-risk store of value. While investors get burned out in a bear market, it presents opportunities for higher returns with careful planning.

Below we look at three cryptocurrencies worth considering for the long term.

Cardan (ADA)

ADA is the native token of Cardano, a proof-of-stake blockchain network with a wide range of applications. ADA comes after Bitcoin (BTC), Ethereum (ETH), and BNB in ​​the range of major coins. ADA is arguably the most prominent Twitter community and has consistently won polls against BTC and ETH. It is currently trading at $0.4974, up 6% in the last 24 hours. While BTC and ETH lost over 30% during the recent market crash, ADA held its ground and traded between $0.5 and $0.42.

XRP

XRP is the native token of Ripple, a blockchain-based digital payment network and protocol. Ripple recently made several partnerships to facilitate crypto payment services with major brands adopting cryptocurrency. It ranks as the sixth coin by market share and is trading at $0.3657, up 13% in the last 24 hours.

UNI

UNI is the utility token of Uniswap, a decentralized exchange famous for its automated trading of DeFi tokens. The platform launched its governance token, UNI, in 2020 and distributed it via airdrop to existing users of the exchange, bringing the coin into the spotlight. UNI ranks in the top 19 with a market cap of over $4 billion. Last month, Uniswap reached the $1 trillion volume milestone from 3.9 million addresses, indicating significant room for growth. UNi is trading at $5.65, up 5% in the last 24 hours.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of CQ. None of the information in this article should be construed as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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