First of all this post is my personal opinion and not a financial advice! Never invest in cryptos more than you can afford to lose and always try to keep them in your own wallet instead of a trading exchange.
Cryptocurrencies are now in a state where there is no going back.
Here an old post from 2017 to see some coins I’ve invested in. Few days ago I cleaned up my crypto portfolio and to be able to send some cryptos again from native wallets like from IOTA the Trinity Wallet or from Verge the Qt Wallet I needed update them and also consider some workarounds like (HELP) Unable to send from Trinity wallet and How to access iota funds spread over too many inputs on Ledger Nano S.
I remember almost every time there is this big effort to be able to send again some Altcoins if you haven’t updated a wallet for a while. Not with all of them, but with most. That was also one of the reasons I decided to define some Shitcoins in my opinion and exchange them to only a few Cryptocurrencies where I believe they will stay around longer. Most of my investments are now distributed to
Bitcoin (BTC), Ethereum (ETH) and Cardano (ADA)
Why these three only?
Bitcoin is like the digital gold. Almost every other Cryptocurrency is better (e.g. environmental reasons, transaction fees and time…), but what should not be underestimated is that it is the first one, it’s super rare and finite. Just read the post Bitcoin is a Collectors Items and you will understand better what I mean.
Ethereum is like the digital silver, though it has more advantages than Bitcoin. See this post for example 5 Reasons Ethereum Is Way More Powerful Than Bitcoin.
My biggest stake is inside Cardano. I like the steady progress over the years until today, the community is more engaged and the overall vibe seems to be healthy and not toxic, money is no motivator (see the video below), the support of africa, Staking is just simple, Companies moving from Ethereum to Cardano and it’s more eco-friendly than Bitcoin or even Ethereum.
In my opinion no. Too many things are happening right now which show adaption. See Elon Musk: ‘You Can Now Buy Tesla with Bitcoin’, JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace or Exclusive: PayPal launches crypto checkout service.
Don’t forget, in the end Bitcoin and other Cryptocurrencies have value, because we humans give them value. FIAT Money has value because we all believe $1 is $1 or 1€ is 1€. So in the end the people decide what has value or not and it seems to be that crypto gets more and more value while the believe in FIAT Money decreases and decreases.