Investing in cryptocurrency can be risky, even for an experienced crypto investor. This article lists some of the top cryptocurrencies to consider in 2022.
Cryptocurrency has become increasingly lucrative over the years. It continues to attract more users each day. While some users only use cryptocurrency as a digital currency to make purchases, most are crypto investors. Investing in cryptocurrency is not easy or for the weak. And this is primarily because of the high risk involved.
Crypto Crashes can frustrate investors. Such crashes lead to investors losing lots of money within a short time. Yet, it doesn’t mean that we should avoid investing in cryptocurrency. On the flip side, investing in cryptocurrency can be very rewarding. But this requires one to know what types of cryptocurrencies to buy.
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Bitcoin is the most successful and oldest cryptocurrency. It has the largest market capitalization and the most extensive user base. It is good to buy Bitcoin in 2022 because of several reasons.
First, Bitcoin has been there and has an established reputation as a good investment. You may have heard about Bitcoin millionaires and billionaires. Second, Bitcoin is currently under what people call a crypto winter after the prices dived dramatically from the beginning of the year. Crypto analysts believe that the value of Bitcoin is likely to surge before the year ends.
Finally, with Bitcoin prices now ranging around $20,000, it is probably the best time to buy. Bitcoin prices can surge dramatically for a keen investor, which could mean significant profits. The idea is not to buy and sell tomorrow. Just wait longer, and the prices will shoot up to shocking levels.
Cardano is also an excellent cryptocurrency to buy in 2022. To begin with, Cardano combines the best features of first and second-generation cryptocurrencies like Bitcoin and Ethereum, respectively. With a recent upgrade, Cardano now uses the Proof of Stake (PoS) system instead of Bitcoin’s old Proof of Work (PoW). And this enhances sustainability.
Moreover, crypto experts recommend investing in Cardano because of its smaller footprint. From an investment viewpoint, you can have faster and cheaper transactions on Cardano than on most other cryptocurrencies.
Ethereum is also among the top cryptocurrencies in 2022. First, Ethereum is the second largest cryptocurrency. And this shows that investors have higher levels of confidence in it. Otherwise, it would not be among the top cryptocurrencies. Investors are very sharp people who know where to put their money.
Second, and perhaps the fundamental reason to buy, Ethereum has greater functionality than just supporting its cryptocurrency, Ether. Ethereum is a network that helps developers create apps and forms the basis for smart contracts and secure financial transactions.
Avalanche is a relatively new entrant into the cryptocurrency world. It provides a more highly scalable network than most other cryptocurrencies. Unlike Bitcoin or Ethereum, where most or all the nodes verify transactions on the networks, each of the three blockchains in Avalanche can do so independently. And this makes transactions faster and more scalable.
Moreover, despite entering the market recently, Avalanche has shown significant potential. When it started trading in 2020, the price was about $13. Within a year, the price had surged to $142 before it started dropping again. Price drops affect all cryptocurrencies, though.
These are some top cryptocurrencies that you can consider buying in 2022 (not financial advise). Nevertheless, research each of them extensively to pick one that suits your crypto investment needs.
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