EvanDuke
replied at
7:54am
on
Nov 25 2024
I invest in both cryptocurrencies, so I will try to explain what I think is worth considering when choosing between Bitcoin and Monero. According to https://bravenewcoin.com/insights/what-crypto-is-better-for-long-and-short-term-investing-btc-or-xmr , Each asset has its own characteristics, and it is important to understand what is suitable for your purposes, whether it is short-term speculation or long-term investment. Bitcoin (BTC) is by far the most well-known and liquid asset in the cryptocurrency market. It has established itself as a kind of digital gold and is accepted as a store of value not only by crypto enthusiasts, but also by large corporations and financial institutions. Since its inception in 2009, Bitcoin has seen a huge increase in value, and in that time has become the world's reserve cryptocurrency. Its value is largely based on blockchain technology, which provides a high degree of security, as well as a limited supply (only 21 million bitcoins), which makes it attractive to long-term investors. From a long-term investment perspective, Bitcoin looks like a great option. Many experts believe that it will become increasingly valuable in the future, because the limited supply and growing demand from large investors and governments can push the price up. It is also worth noting that Bitcoin is an asset that is easy to get in and out of, which makes it convenient for trading. Even in moments of high volatility (and Bitcoin has it), its price remains stable compared to other cryptocurrencies, which also makes it attractive to investors.