Got $500? 3 Cryptocurrencies to Buy and Hold for Decades

Cryptocurrencies as a whole are still in their early years. There is still a long way to go for society to accept and utilize cryptocurrencies . The current lack of regulations is both a blessing and a curse, often resulting in meme coins and other speculative digital assets that frequently fail. On the other hand, cryptocurrencies have significant potential to modernize and improve the global financial system. Perhaps the key message here is to pick your cryptocurrencies wisely. Focus your attention on established tokens with real-world applications. Here are three top cryptocurrencies you can buy and hold for decades. Since cryptocurrencies are still riskier than most investments, it's not a bad idea to start with a modest amount, such as $500. Image source: Getty Images. 1. A cryptocurrency aimed at the financial system XRP ( XRP 0.30%) has been one of the more controversial cryptocurrencies. Its developer, Ripple Labs , spent several years locked in a court battle with U.S. regulators over the legality of the company selling tokens to exchanges and investors. However, now that the litigation has ended, there is a lot to like in XRP . It's the native token for the XRP Ledger blockchain and blockchain-based global payments platform, Ripplenet. The platform facilitates cross-border transactions where a party can send money to another in a different country using XRP as an intermediary. It's a transparent process with bank-level compliance to cash transfer regulations in every active market. The platform has appeal because it's faster and cheaper to use than SWIFT, the incumbent global bank messaging network. CRYPTO: XRP Key Data Points Currently, SWIFT still dominates cross-border financial transactions, but XRP has tremendous potential if it gains traction over the next decade and beyond. XRP's price skyrocketed once the Ripple Labs litigation ended. Since then, a broad decline in cryptocurrency prices has dragged XRP lower, offering a dip investors can buy into if they believe in its long-term upside. 2. This cryptocurrency is like digital gold Bitcoin ( BTC +0.96%) is the first cryptocurrency and remains the largest today, with a market cap of $1.7 trillion, roughly five times larger than the next closest. Ironically, Bitcoin is only the third most widely used blockchain, measured by total value locked (TVL). Instead, Bitcoin has continued to appreciate as an anti- inflationary asset, somewhat like a digital version of gold. Investors continue to covet and value Bitcoin. More parties are starting to accumulate it. Some corporations have begun to hold it on their balance sheets, and the United States announced plans to create a Strategic Bitcoin Reserve earlier this year. CRYPTO: BTC Key Data Points It's challenging to compare the value of Bitcoin to that of real estate, gold, and stocks, which are still much larger in value . Furthermore, governments worldwide continue to borrow money in a manner that erodes the purchasing power of their fiat currencies . That makes Bitcoin a no-brainer to at least carry some exposure to in your portfolio over the coming decades. 3....

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