7 Best Cryptocurrencies to Invest in for the Year 2022.
Cryptocurrency is a digital currency that is not controlled by any system of government or bank. It is therefore based on blockchain technology which means that data cannot be transferred. There are currently more than 1000s of crypto in the cryptocurrency market. This means cryptocurrencies are gaining more traction on Wall Street and there comes the emergence of available investment opportunities.
Since you can make any exchange or purchases with crypto, some people hold crypto that they believe can gain value for long-term investment.
Below are some of the cryptocurrencies expected to hit the roof and land on the moon.
So let’s dive in.
Top 7 Best Crypto to Invest in the Year 2022.
7. Cardano (ADA)
With a market cap of $52.1 and trading at $1.57 means, Cardano is here to stay with us. ADA cryptocurrency belongs to the Cardano network. It can be used to store, send or receive any payment. Cordano’s is environmentally friendly with a sustainable blockchain platform, which allows the development of crypto tokens, investment apps, and many more.
Cardano is ranked 5 at Coinbase market hence ranging at a good position of trading it.
Risk Of Investing Cardano.
Due to a high number of other cryptocurrencies, competition remains stiff. There are few developers thus indicating a low adoption rate. There is a significant development that raises an alarm of its potential.
6. Binance Coin (BNB)
Binance coin is one of the few cryptos that have proved itself despite the volatile market it can be relied on. Since it joined the market in 2017, there was a bull on the market making other cryptos rise on it. At the point of writing, Binance was trading at $615.76, since its establishment, it had a supply of 200 million coins compared to other cryptocurrencies market supply.
Risk Of Investing Binance
Although Binance was created by a trading institution unlike other cryptocurrencies, it has raised queries from investors on maintaining a strong blockchain network and security issues.
XRP is a virtual currency meant for payment and was founded by a digital company known as Ripple. It allows exchanges between crypto and other fiat cryptocurrencies. This simply means you can send XRP without any intermediary making it efficient in e-commerce payments.
Ripple is dedicating a lot of investment to non-fungible projects that use the XRP ledger. This shows how XRP will translate into a massive transition.
Risk Of Investing XRP
The Security and Exchange Commission has taken a lawsuit against Ripple due to violating the registration provisions act. This Implies that XRP cannot be a medium of exchange but a source of security. This can lead to massive results for XRP holders and other cryptocurrencies.
4. Solana (Sol)
Solana has a market capitalization of $68.57 billion and is ranked fifth on market share. Solana lies in the development of decentralized
apps on its network which lies in its blockchain technology. This gives its competitor Ethureum a difficult time since January when it had 0.1% on the market in contrast to where it is right now.
Risk of investing in Solana
Due to market volatility, Solana has an increase of 1200% appreciation and this sends a red flag. This indication shows that there might be a drastic drop according to CNBC hence not reliability might be a problem. According to Boomerang, there is a shortage of resources in the Solana ecosystem.
3. Polkadot ( Pol)
Polkadot was established by Ethereum developers who moved out to create their own cryptocurrency, thus Polkadot emerged. This cryptocurrency was developed with the notion of attracting real investors and segregating people who were led to make money quickly. Those who invest in Polkadot usually decide with regards to network fees, removing parachains, and network upgrades.
Risk of Investing in Polkadot.
This Crypto was introduced by Gravin Wood via a white paper in 2016 and got launched in 2020. Due to the lack of track record, this gives a riskier investment sign in contrast with other cryptos.
2. Ethereum (Eth)
This is one of the different currencies from other cryptos like bitcoin. It offers a great opportunity to developers by creating their own cryptocurrency on its network. This makes it better than other competitors. With its unique technology, it has surpassed many other cryptocurrencies thus being positioned second largest crypto in the world.
Risk of investing In Ethereum
Even though it is one of the second in-demand cryptos, it has got some weird slow transfer due to having one ‘lane’ mode of transaction. This has caused it to be vulnerable to online hackers like in 2017, $50 million worth of Ethereum got lost to such kinds of attacks.
1. Bitcoin (BTC)
This is one of the top-notch cryptocurrencies that every investor is keeping on a watchlist. Having a market capitalization of $1.1trillion while trading at $57,300.95 when writing this in December 2021. Bitcoin is expected to rise to $100,000 according to the crypto analysts. This has been a tremendous move since a company like Tesla disclosed that they have invested $1.1 billion worth of Bitcoin.
Bitcoin has been accepted by some countries and even proposed to be their store of value to avoid inflation.
Risk of Investing in Bitcoin.
Bitcoin fluctuates in some days and this turns out to be difficult for short term investors but profitable to long-term traders who rely on the volatility of the market.
With the rise of cryptocurrency across the world, the above checklist I believe will be stable and rise in demand in the market. Before placing your money at the crypto market platform, I would recommend you to have done thorough research to ensure you are on the safe side for your money and avoid gambling.
Like for example, the above crypto have got their ecosystem where they introduce new projects that may require “proof of stake”. Hence they show the time of the project, the period it will take, and how much money they need to raise. Wish you all the best