Bitcoin and Ethereum are the most widespread cryptocurrencies today. And there are reasons for this. Bitcoin attracts users with its ease of use, complete privacy, and the absence of third-party interference. Financial authorities cannot influence the transactions because the entire Bitcoin system is in private hands. Coin mining is carried out through a mining farm. This is a collection of computers or servers combined into one system.
Ethereum has taken a special place in the online world due to its pioneering platform for dApps, smart contracts, and the growing DeFi and NFT industry. Ethereum’s promise is based not only on the coin itself but also on the numerous successful applications developed on its network.
According to forecasts, these two currencies have the potential for further growth. Research conducted by LongForecast shows that the price of Bitcoin can reach $230,000 and Ethereum – $17,000 in 2025. Therefore, the ETH to BTC exchange is relevant today and will remain so in the coming years.
But what about NEAR? Is it a good investment option in the long term? The paragraphs below provide answers to these and other important questions.
NEAR and Its Key Features
NEAR Protocol is an open-source, layer-1 blockchain. It is an optimal environment for decentralized applications that offers effective, practical solutions for both developers and users.
- Ease of use;
NEAR Protocol operates on the popular Proof-of-Stake (PoS) consensus algorithm and uses smart contracts with cross-chain functionality. A distinctive feature of this blockchain is the friendly names of the accounts. The developers managed to abandon the classic cryptographic addresses thanks to a simplified registration algorithm. According to it, each account is simultaneously a smart contract.
The ecosystem’s native token is NEAR. It is widely used to pay transaction fees. Coin holders can also participate in voting related to products and the work of the ecosystem and make proposals.
Is NEAR Suitable for Long-Term Investment?
NEAR’s market capitalization as of September 2023 is $1.06 billion. This figure allows it to claim 0.31% of the global cryptocurrency market, which is certainly a fairly high indicator. Given the young age of the token, it becomes obvious that the asset is highly valued in today’s market. Many people swap NEAR to ETH, NEAR to BTC, SOL to NEAR, etc., and receive benefits.
The long-term NEAR purchase is profitable because it is a great way to save user funds. Important features of the network are that it is versatile, secure, and inexpensive. It is also essential for investors that this coin uses the Proof-of-Stake protocol. This means that a new block is registered when enough validators confirm the recorded transactions.
Validators delegate their coins to staking pools used by the network to check transactions. Everyone can buy digital assets and provide them to the staking pool, receiving a reward. This is actually called stacking. Unlike mining, it does not require users to provide their own technical capacities.
Final Notes: The Best Place to Buy NEAR
NEAR Protocol is one of the cutting-edge developments in the crypto space. It is a fast, stable, cross-platform network that is successfully developing daily. The NEAR cryptocurrency is very popular due to its parent project. It has high liquidity and volatility, providing investors with an excellent opportunity to earn money both in the short and long term.
The LetsExchange.io online platform is the best place to buy NEAR today. This multi-currency exchange service allows users to trade more than 3470 coins without registration and restrictions. Other popular crypto services are Kraken, Huobi, Bitfinex, and Coinbase. Choose the most suitable platform and make a profitable investment without any problems!
You may also read: