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rewards, but also large potential risk. You must be aware of the risks and be willing to
accept them in order to invest in the stocks and options markets. Don’t trade with
money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell
stocks or options. No representation is being made that any account will or is likely to
achieve profits or losses similar to those discussed in this report. The past performance
of any trading system or methodology is not necessarily indicative of future results. All
trades, patterns, charts, systems, etc., discussed in this report are for illustrative
purposes only and not to be construed as specific advisory recommendations.
Information contained in this correspondence is intended for informational purposes
only and was obtained from sources believed to be reliable. Information is in no way
guaranteed. No guarantee of any kind is implied or possible where projections of future
conditions are attempted.
Bitcoin is the most popular cryptocurrency… and it’s not even a close
comparison between Bitcoin and the next closest competitor as measured
by market cap.
The primary reason why Bitcoin enjoys its current “king of the hill” status is
because Bitcoin was the first cryptocurrency to gain widespread
recognition.
While it may appear that Bitcoin will forever be the undisputed leader in the
cryptocurrency markets, things change fast in the tech space.
Consider this: The first home computer wasn’t produced by Apple or IBM.
It was the Compucolor by the Compucolor Corporation. Even though this
company was the first to create the home computer, Compucolor
Corporation was out of business by 1983.
The next time you go to search for something on the internet, you probably
won’t use Lycos, Alta Vista or Ask Jeeves. Those search engines all pre-
date Google, but these days Google is clearly the dominant search engine.
And of course, I’m sure you remember MySpace. It was the first wildly
popular social networking site. Until Mark Zuckerburg came along and
steamrolled Myspace on this way to building Facebook into the global
powerhouse that is today.
My point is this: While Bitcoin currently holds the top spot at the podium,
there’s simply no telling what will happen in the future. There are over
13,000 cryptocurrencies (at the time of this writing.)
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The vast majority of these cryptocurrencies will fizzle on the launch pad. In
10 years from now, maybe Bitcoin will be the last cryptocurrency standing.
It’s certainly possible and for that reason it only makes sense to buy and
hold some Bitcoin for the long-term outlook.
Well, if you only own Bitcoin you are taking a great risk. Cryptocurrencies
and blockchain technology are clearly here to stay. We can be reasonably
confident that some form of cryptocurrency will eventually become “the
future of money” but trying to accurately predict which cryptocurrency will
eventually assume the throne is impossible.
For that reason, it only makes sense to buy & hold a number of key
cryptocurrencies beyond Bitcoin. In this report, I’ll show you a few other
cryptocurrencies you may wish to consider adding to your cryptocurrency
portfolio.
Please remember this is NOT individual investment advice and you should
do your own due diligence before investing. All investing carries risk of loss
and you should never invest more than you can afford to lose.
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3 Digital Currencies To Buy & Hold Forever
Ethereum (ETH)
After all, blockchain is most famously the technology behind the world’s
most famous cryptocurrency. However, Bitcoin is just one of several
hundred different ways to apply blockchain technology these days.
There are applications out there now that go WAY beyond simply acting as
a ledger for digital currencies.
Newly created open source software platforms are providing tools to make
decentralized app development much easier. The prerequisite technical
skills that blockchain technology required from developers is shrinking,
while the suite of tools available to them grows larger with each day.
Ethereum, one of the first open software platforms out there, enabled
developers to easily build and deploy decentralized applications before
anyone else.
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An Open Software Platform? I Thought Ethereum Was A
Cryptocurrency Like Bitcoin…
Bitcoin was the first cryptocurrency ever created back in 2009, and it was
made to simply serve as currency – in the form of a peer to peer electronic
cash system.
So beyond being just a tradable currency, Ether (a type of crypto token that
fuels the Ethereum network), is used by application developers to pay for
transaction fees and services on the Ethereum network.
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A day will come when decentralized applications are the norm, and
Ethereum will be undoubtedly leading the way.
Ripple (XRP)
You may be asking, “what the heck does that mean?” …and you wouldn’t
be alone. Beloved by financial institutions, hated by hardcore crypto
investors, Ripple is seen by many as the “anti-Bitcoin”.
Ripple allows two parties to avoid the fees and wait times typically
associated with traditional banking and cryptocurrency transactions.
Blockchain technology has a long list of benefits, but speed is not one of
them. This is where Ripple is fundamentally different from Bitcoin.
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Because of this, banks worldwide have fallen in love with Ripple. Payment
providers are also jumping on board more and more with each passing day.
While Ripple can be used for small-scale person-to-person transactions,
that isn’t its primary focus. Ripple is made for enterprise level transactions
by design. It was created to move large sums of money around the world
as quickly and cheaply as possible.
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Ripple is the best option for banks to maintain liquidity, bar-none, and I
can’t see this changing in the foreseeable future. As a result, Ripple is
absolutely one of the three cryptocurrencies to buy and hold long-term.
Litecoin (LTC)
This was only two years after Bitcoin was created, while Bitcoin was still
very “niche”, even among the geekiest of web users. After learning about
Bitcoin through Silk Road and familiarizing himself with blockchain
technology, Lee created his first digital currency under the name “Fairbrix”.
In October 2011, Lee tried again by creating a hard fork of the most popular
cryptocurrency at the time – Bitcoin. Named “Litecoin”, his second attempt
at creating a cryptocurrency stuck. Lee observed the issues that Bitcoin
faced with increased scalability and wanted to make a cryptocurrency that
could handle the demands of being highly transacted. In his original vision,
Litecoin would serve as a complement to Bitcoin that could be used for
payments much more easily.
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Litecoin is most notable for pioneering Segregated Witness (also known as
SegWit), a process that reduces transactions times and costs dramatically
for cryptocurrencies. You can think of Litecoin as a more lightweight, easily
transactable version of Bitcoin (hence the name).
While Bitcoin has been mostly used to store value throughout its history,
Litecoin will likely be the first cryptocurrency to be accepted as a popular
payment option. Because of this Litecoin will be a large contributor to taking
crypto mainstream – and investors who are bold enough to buy some now
will be handsomely rewarded for it.
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Conclusion
As a society, we’ve been using paper money for over 300 years. Yet just
as cell phones replaced landlines, just as email replaced “snail mail” it’s
only a matter of time until digital currencies replace government-backed
paper money.
It may not happen today or tomorrow but eventually it’s the only logical
conclusion. And while there’s no way of predicting which cryptocurrencies
will establish lasting dominance, by holding a small “basket” of leading
digital currencies you may end up holding what could become the world’s
most valuable asset in the coming years.
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