Out of all the thousands of cryptocurrencies they have on Coinbase, the only one I believe is worth buying is Internet Computer Protocol. I've researched thousands of altcoins. I've been in crypto for 11 years, and I've kept asking myself one question: what's the single crypto that is most worth buying and holding today for the long term? I don't care about all these other ones. What's the number one crypto that's most undervalued, the one with the most potential? In my view, it is Internet Computer Protocol, and next to it, nothing else looks worth buying on Coinbase.
Take Bitcoin, for example. In my experience, you're never going to get as high of gains in Bitcoin or Ethereum as you can get in ICP. If you haven't heard of ICP before, I'll give you a little look at it. If you have, I'll share some new things too. But right now, hardly anyone would look at the chart on CoinMarketCap and think ICP was the only crypto worth buying at less than a $3 billion fully diluted market cap. With the standard way of thinking in crypto, people would look at this and pass right on by. Almost nobody would see that this is the one crypto you could buy on Coinbase where, by buying it, you don't need to buy anything else.
Why I tell people to get their crypto off Coinbase
People consistently schedule calls with me, paying me hundreds of dollars an hour to talk. And they consistently have tens, if not hundreds of thousands of dollars of crypto sitting on Coinbase. They come to me asking, "Which of these are good?" And I tell them: only Internet Computer Protocol. And you need to get all of it off of Coinbase right away.
Here's where we urgently run into the problem with the rest of crypto. For example, I talked to an investor the other day with hundreds of thousands of dollars of ICP and Bitcoin. When I say you need to get it off of Coinbase, it's because that's not your crypto. If it's on Coinbase, it's their crypto. Unless you sell it and put dollars in the bank, or take it off the exchange, they have the keys, which means it's their crypto, not yours.
With ICP, I'm able to tell the guy, look, it's super easy. You sign up for a completely free internet identity that is linked to your devices, and that will be very easy for you to never lose. If you want my tutorial on that, search for Jerry Banfield Internet Identity. It shows you how to set all of this up for free, totally for free, 100% on the blockchain, which cuts out the middleman in crypto. This guy had already watched that video, so he had his internet identity set up. Then I could say, just take all your ICP, go into your portfolio, grab your address, copy it, and send all your ICP from Coinbase to that address. I walked him through it. I'm telling you this stuff for free; this guy paid hundreds of dollars to have the same thing told to him.
Locking up ICP for governance and income
Then I tell him, now what you want to do is lock some of your Internet Computer up. Whatever amount you want, but I would say at least 50%, for some kind of medium to long term. As soon as you lock that up, you get to participate in the governance of the network and you start earning. If you lock it up for eight years, you start getting 13.6%. If you lock it up for a year, you start getting 7% interest right away. What you can do is set up a tiered lockup where you have some for eight years, some for seven, six, five, four, and so on. You can be getting interest and then getting payments, which in my opinion is perfect for retirement.
Now, you could make the same argument about getting staking rewards with other cryptos. But here's what's special on ICP. You're not delegating your staking to a third party. You're not going through some centralized website or something like Ledger to access your ICP. On ICP, when you're participating in governance, you're going directly onto the blockchain, onto the front end, and voting in the interface itself, which you cannot do with any other blockchain I'm aware of. That's because ICP, to me, is the only crypto worth buying when you combine the technology and the market cap.
The technology gap with every other coin
Right now, all other cryptos rely almost totally on centralized tech to serve their websites, to pull prices and APIs from other centralized services, and then to do the heavy backend operations and data storage. These other cryptos are doing almost nothing on the chain itself. They're totally relying on centralized tech to serve the user experience, which is why, in my understanding, 99% of crypto transactions go through third parties, meaning you're not even on the blockchain. But on ICP, you are on the blockchain. You can completely cut out centralized tech with ICP. As I said in my video yesterday about a new blockchain-based internet, this is the future. The future is going toward a blockchain-based internet, and I believe only ICP can deliver that based on the technology. Therefore, nothing else on Coinbase looks worth buying by comparison.
You see how much the tech matters when you try to do something simple. When this guy starts pulling his ICP off of Coinbase, he now has a wallet with a recovery phrase that's secured with all his devices. On his iPhone and his computer, he also has the account. If he loses his recovery phrase, he can just use his iPhone to reset it, no big deal. If he loses his iPhone and his computer, he can use his recovery phrase to get onto new devices. It's the best account preservation and security technology I've ever seen. It totally cuts out third parties like Ledger hardware wallets, like Tangem, like MetaMask.
The problem with Bitcoin and Ethereum
The problem becomes immediate when he asks, "Okay, well, what do I do with my Bitcoin?" Here's the issue. With your Bitcoin, you're going to end up in most cases going through a third party, which to me eliminates the value of the blockchain. The whole point of the blockchain is to cut out third parties. Does anyone remember that from being an old-school Bitcoin person? I would download the entire Bitcoin blockchain on my computer, run the Bitcoin Core wallet, and then transact. That's cutting out third parties in Bitcoin. But if you're using a Ledger, a Tangem, or anything else besides the Bitcoin Core wallet, a third party is sitting between you and your crypto.
For example, your Ledger. If you lose your Ledger hardware wallet and you can't get another one for any reason, whether they go out of business, the country you live in bans them, or people keep stealing your Ledger wallet, you lose your crypto. If you're on MetaMask and you get code injected from anything malicious, and cybercrime is going up, you can lose your crypto. Even though it looks legit, even though your entire interface says it's legit, even though it's a transaction you tried to do, you can lose your whole MetaMask wallet, as has happened to many people.
So this guy is sitting there with hundreds of thousands of dollars of Bitcoin. I tell him, you can't leave that Bitcoin on Coinbase, because that could go to zero. If Coinbase is honest, you're good. But if they're not honest, they can sell your Bitcoin, they can trade your Bitcoin for you, all while it looks like it's still sitting in your account.
So the best solution I'm aware of right now, if you already have an ICP wallet, is to just put your Bitcoin on there as well. You can go to oisy.com and put your Bitcoin, your Ethereum, your ICP, your Solana, and your stablecoins all in one wallet, all directly on the blockchain. You're going straight into the blockchain without having to go through a third party. Now, in the case of Bitcoin, the Internet Computer Protocol blockchain does end up being a third party, because if the ICP blockchain goes down, you could lose your Bitcoin. It hasn't happened so far; it's the best tech in the world that I've seen, but it's still a third party.
But do you see the problem with Bitcoin and Ethereum? You can't even hardly transact them without bringing in a third party. ICP is the only thing I've found you can easily transact without bringing in a third party, without bringing in some website that's not on the blockchain that can be compromised, where you can lose all your crypto. In my belief, these other cryptos are going to get destroyed, all of them besides ICP, one way or another. Whether it's investors realizing they bought worthless tokens, or people's wallets constantly getting hacked and drained through one cybercrime or attack after another. The only option I see for these other coins is to bring their wallets onto ICP so they can't get hacked on their centralized websites, backends, and databases.
Tech versus market cap is the most out-of-whack thing I've seen
So to me, there's absolutely no crypto on Coinbase that has even a fraction of the potential that ICP does. The main reason I say that right now is because of what the tech can do versus the market cap. What the tech can do on ICP versus the market cap is the most out-of-whack thing I've ever seen in investing. In my opinion, this should be worth at least a thousand times as much as it is today.
Right now, I believe ICP has the biggest solution for AI. AI infrastructures are a disaster right now. They're a honeypot for hackers, and you can't trust them with your sensitive data. ICP has the best infrastructure in the world right now to put AI models on. ICP has the best infrastructure in the world right now, and I mean the whole world, for preventing cybercrime. And ICP has the only infrastructure in the world I know of where you can run end-to-end Web3, where you can have something like my OpenChat community. This is my Discord or Telegram equivalent, except it's directly on the blockchain. We're not going through third parties. This whole app is on the blockchain. It is so vastly superior to Discord or Telegram in almost every way, and I use it every single day. It has a token that gives it real ownership, where you can actually vote.
I'm grateful for that right now. With the DAO, I did a proposal yesterday saying, hey, I'll make 11 videos for you over six months. I was easily able to make that proposal for a few dollars, and right now the proposal is passing 20% to 1% to send thousands of dollars of OpenChat to fund it. That's real Web3, and this is what we need. We need real Web3. The only coin on Coinbase that's supporting real Web3, in my view, is ICP. It's the only coin where you can go use the technology yourself without having to buy any tokens, because you don't need ICP to transact on the blockchain thanks to the reverse gas fee setup.
The only tech I see onboarding billions of people
This is the only technology I see in the world that will onboard billions of people. There are a lot of apps that talk about it; this is the only tech in the world I've found that will actually deliver it. And you don't have to take my word for it. As soon as you have an internet identity, you can use Oisy to take your Bitcoin, your Ethereum, your ICP, all off of exchanges and hold it in one single wallet. Then you can use Chain-key Bitcoin and Chain-key Ethereum to do instant, almost no-fee swaps. You can provide liquidity too. Put Chain-key Bitcoin and ICP in a liquidity pair and, in my experience, you can make some real nice money off of that. And you can participate in the governance directly. This is the future of crypto.
If every video I'm making feels like it's saying the same basic thing, that's because it is. There's only one thing that needs to be said through the mountain of nonsense in crypto. There's a real-world computer that has the solution to some of the hardest problems and biggest opportunities humanity is facing: AI, cybercrime, and distributing ownership of the web through Web3. ICP solves for all three of these in one infrastructure, and no one else has a solution for it. It's not speculative. It is being executed on chain right now. It's not "maybe in three years they'll do this." It's on chain. You can see it. You can use it for free right now. If you want to go deeper into how I think about money and investing, you can explore my Money playlist.
There is no coin on Coinbase, and I've looked at thousands of altcoins over the last decade, that has 1% of the real value to it that ICP does. Now, here's the one caveat. If ICP was a thousand times what it is today, would I say it was absolutely the best coin, the only coin worth buying? Probably not. That's why I don't think Bitcoin's worth buying. To me, it's valued way too much versus what it can actually deliver. Everything else on Coinbase, in my opinion, is overvalued anywhere from 10 to 100 times. ICP is undervalued anywhere from 100 to 1,000 times. So I'm looking forward to the day I can say I told you so. Until then, I'm stacking and stacking this. And I'll see you in the buy orders.