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Cryptocurrency is digital money that isn’t managed by a government or by any other central system. It is based on blockchain technology with Bitcoin being the most well-known and popular one.
With further advancement and increased application, digital currencies continue to increase in widespread adoption, and popularity.
There are more than 21,000 cryptocurrencies in the market now. When you first get started on cryptocurrency, it can be overwhelming to choose which currency would be the best to invest in. While some people use cryptocurrency to make purchases, many treat it as a long-term investment – they buy and HODLÂ (hold on for dear life).
But it can be risky to invest in any cryptocurrency so you should do your research before you decide to invest in cryptocurrency.
Here are some cryptocurrencies that could prove to be worthy of investment in 2022.
5 Best Cryptocurrencies to Invest In 2022
1. Bitcoin
Created in 2009, this is the original cryptocurrency whose name is well-known by many. Just like most cryptocurrencies, bitcoin runs on a blockchain technology or you can say it runs on ledger logging transactions distributed across a network of thousands of computers.
Bitcoin is safe from fraudsters because it is protected. New additions to the distributed ledgers must be verified by solving a cryptographic puzzle which enhances the security.
It has become a household name since Bitcoin’s price has skyrocketed. There have been bitcoin growth and now a single coin price is around $44,000.
2. Ethereum
It is a favorite cryptocurrency among many because it has many applications. One example is the smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Just like Bitcoin, this cryptocurrency has also witnessed tremendous growth in the industry. Its price as of March 2022 is over $3,000 as compared to April 2016 when it was about $11.
3. Binance Coin
Binance is the biggest crypto exchange in the world, by volume. The currency you can use to trade and pay fees on Binance is named Binance Coin, or BNB.
Ever since its launch, its use has expanded past merely trades on the Binance platform. Binance can be used for trading, payment processing, and even for booking travel flights. The best part about Binance Coin is that it can be exchanged for other forms of cryptocurrency such as Bitcoin and Ethereum. Another tool you can use to trade cryptocurrencies external to Binance is the popular fintech company – Etoro. While they operate in traditional finance, new advancements have enabled its users to be able to use eToro for crypto.
4. Polkadot
Polkadot is a unique blockchain interoperability protocol that is made to connect different chains. With the help of this cryptocurrency, it allows users to exchange data and process transactions.
Developers can create their blockchain while using Polkadot security. Its price has skyrocketed and has hit its all-time high of $55.11.
5. XRP
It was created by some of the same founders as Ripple which is a digital technology and payment processing company. XRP cryptocurrency can be used to facilitate exchanges of different currency types. It includes fiat currencies and other major types.
Just like the cryptocurrencies mentioned above, XRP has also seen a rise in price from $0.006 to $0.80 now in 2022.
