Artificial Intelligence (AI) tools like ChatGPT can help with due diligence and decision-making. Because it has the ability to quickly collect and collate complex pieces of information. Therefore, they can be valuable allies for investors who want AI tools. In this context, we asked ChatGPT-4 to “suggest three cryptocurrencies that investors can buy and hold forever.” Artificial intelligence made its choices…
ChatGPT’s first choice is the leading cryptocurrency
According to CoinMarketCap’s ranking, GPT-4’s top three digital assets for the “buy and hold” strategy are among the seven largest assets by market cap. It is possible that the data-based machine was taken into account in the selection of assets. While explaining its choice, ChatGPT does not forget to make the following warning:
It is important to remember that the cryptocurrency market is extremely volatile and speculative. While some investors may adopt a long-term “buy and hold” strategy for cryptocurrencies, there is no guarantee of success. Additionally, it is very important to do your own research and consider your risk tolerance.
The first choice of artificial intelligence is also the leading cryptocurrency: Bitcoin (BTC). In other words, “the most established and widely recognized cryptocurrency. According to ChatGPT, Bitcoin’s “fixed supply” and a strong network of miners and nodes provide both “security and stability” for BTC as a long-term store of value and hedge against inflation. However, Bitcoin’s supply is not fixed but is capped by a scheduled emission that is expected to last for approximately the next 137 years until the maximum limit of 21 million BTC is distributed to miners.
Artificial intelligence chooses Ethereum (ETH) as second
The second largest cryptocurrency is also the second choice of artificial intelligence: Ethereum (ETH). This is because it serves as the basis for decentralized applications (DApps) and smart contracts. According to ChatGPT, Ethereum’s role as “a hub for various projects and innovations in the crypto space” makes it a good investment option to hold for the long term.
However, he mentions the network’s transition to Proof of Stake (PoS) as an event that has yet to happen. He says this transition will bring a good opportunity for investors. However, as you follow from Kriptokoin.com, the network update took place a year ago, in September 2022. Considering this situation, it becomes clear that the recommendations of artificial intelligence should be approached cautiously.
ChatGPT’s last chosen cryptocurrency: Cardano (ADA)
Interestingly, the AI bypasses Tether USD (USDT), BNB Chain (BNB), XRP Ledger (XRP), and Circle USD (USDC) as the largest cryptocurrencies by market cap. It moves directly to the seventh largest, Cardano (ADA). According to ChatGPT-4, Cardano is “known for its focus on scalability, maintainability, and interoperability.” In the words of the created text, it “provides a more secure platform for smart contracts and DApps. “It also has a strong academic and research-oriented approach.” says.
AI states that ADA is a good choice in the long run because the project is supported by a “strong development team and community.” However, Cardano’s DApp and DeFi ecosystem is still in its early stages. In other words, it should be noted that the features it highlights are in their experimental stages.
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