Is it better to invest in well-established cryptocurrencies or newer ones for the long term?

3 answers

• Nov 24, 2021 · 3 years ago
  It depends on your risk tolerance and investment strategy. Well-established cryptocurrencies like Bitcoin and Ethereum have a proven track record and are generally considered safer investments. They have a large user base, strong liquidity, and are more likely to withstand market fluctuations. On the other hand, newer cryptocurrencies may offer higher potential returns but also come with higher risks. They are often more volatile and have less liquidity. It's important to thoroughly research and assess the fundamentals of any cryptocurrency before investing, regardless of its age.
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• Nov 24, 2021 · 3 years ago
  In my opinion, investing in well-established cryptocurrencies is a safer bet for the long term. These cryptocurrencies have already established themselves in the market and have a strong community backing. They are more likely to have widespread adoption and continued development, which can contribute to their long-term value. Newer cryptocurrencies, while they may have innovative features, often face challenges in gaining traction and building trust. However, it's worth considering a diversified portfolio that includes a mix of both well-established and newer cryptocurrencies to balance risk and potential returns.
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• Nov 24, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I would recommend considering a combination of both well-established and newer cryptocurrencies for long-term investment. Well-established cryptocurrencies provide stability and a proven track record, while newer cryptocurrencies offer the potential for significant growth. However, it's crucial to conduct thorough research and due diligence on any cryptocurrency before investing. At BYDFi, we believe in diversification and offer a wide range of well-established and promising newer cryptocurrencies for investors to choose from. Our team carefully selects projects based on their fundamentals, market potential, and team expertise to provide our users with the best investment opportunities.
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