Cryptocurrency is all the rage these days because of its promising growth and popularity. It has become an especially important form investment for millennials the world over.
For those who don’t know what cryptocurrencies are, they are decentralized digital currencies that use cryptography to secure worldwide transactions. The decentralization aspect of these currencies is part of its huge appeal. They have no physical form and exist only as records of transactions on a blockchain, which is called a digital ledger, and is shared by all parties involved in an exchange, including the buyers and sellers.
Money can indeed be made by investing in cryptocurrencies, but it is equally important to mention that the currencies are, for the time being, vulnerable to volatility. Good trading and market sense can prove to be the deciding factor when it comes to making good on your crypto investments.
There are many different types of cryptocurrencies available today, but we’re going to focus on those that are worth investing in in 2022. These cryptos have been growing steadily and will continue to do so for years to come.
1. Bitcoin (BTC)
This is one of the most popular cryptocurrencies and has been around for quite some time now. It was launched back in 2009 by the pseudonymous Satoshi Nakamoto.
Bitcoin was created as an alternative to regular, fiat money with the aim of using it for online payments without any involvement from any authority or bank. It is also known as “digital gold” because of its popularity, limited supply, and potential for high returns on investment.
Globally, people are thronging to various crypto exchange platforms to buy bitcoin online and, in some cases, even putting down their hard-earned money and savings to invest in this highly lucrative digital currency.
According to an article by Forbes, there has been massive growth in the value of bitcoin. Its value rose from $500 in May 2016 to $29,000 in May 2022.
2. Ethereum (ETH)
Ethereum is another popular cryptocurrency that was developed by Vitalik Buterin in 2015, after he left the Bitcoin magazine due to differences over the scripting language.
Ethereum also works on blockchain technology but, unlike Bitcoin which only allows users to send and receive payments, Ethereum allows them to run decentralized applications through smart contracts on its platform. This helps make transactions much faster as well as more secure than any other platform out there right now.
Ethereum also grew a lot in the past years. Statistics show that since April 2016, the cryptocurrency has grown by 1,800%. it started from $11 back in 2016 and now is sold at more than $2,000!
3. Tether (USDT)
Tether is the most popular and stable cryptocurrency in the world. The value of this cryptocurrency has increased by over 2000% since 2017, and it continues to grow. It has a market cap of $82 billion, and its price is almost always equal to $1.
This means Tether’s value is supposed to be more consistent than other cryptocurrencies, which can be extremely volatile. The coin works as a way for investors to park their money in a stable asset while they still have access to the benefits of owning cryptocurrency — namely the ability to quickly move money across borders without incurring exorbitant fees or waiting days for transfers to clear.
Tether was created by blockchain company Tether Limited in 2014. It has been around for over eight years now, and it’s the most popular and stable coin in circulation today.
4. US Dollar Coin (USDC)
Like Tether, USD Coin (USDC) is a stable coin backed by the U.S. dollars in reserve. It was launched by Circle, a peer-to-peer payments technology company, back in September, 2018. Currently, USDC has a market cap of $49 billion.
Its main goal is to offer stability to traders, so they do not have to deal with the volatility associated with other cryptocurrencies, such as Bitcoin or Ethereum. The coin has seen a growth rate of over 300% since its launch date and continues to grow at an exponential rate.
5. Binance Coin (BNB)
You can use BNB to trade and pay fees on Binance, which is one of the most popular cryptocurrency exchanges in the world. It was founded by Changpeng Zhao in 2017, with a mission to provide a secure and user-friendly trading platform for the crypto community. The exchange has already become a global leader in terms of trade volume.
The big advantage of the Binance Coin is that it has been around for a while now, and it has proven itself to be a stable coin. It’s one of the few cryptocurrencies that had no problems during the recent bear market.
Binance Coin’s market cap is $44 billion and has been growing steadily over time, which means that it’s a good long-term investment. BNB’s price in 2017 was just $0.10. By early May 2022, its price had risen to around $279.
6. XRP (XRP)
The XRP token was created by Ripple in 2012 and has become one of the most traded cryptocurrencies in the world with a market cap of $18 billion.
The XRP token is a digital asset that is used as a bridge between fiat and digital currencies. For example, if you have XRP in your account and want to exchange it for bitcoin, all you have to do is send your XRP tokens to an exchange that supports XRP/BTC trading.
The exchange will then convert your tokens into bitcoins and send them back to your wallet. The cryptocurrency is also used by major financial institutions, like Western Union and MoneyGram, as their preferred digital asset for cross-border transfers due to its fast speed, scalability, and low transaction costs.
It also comes with a unique feature: it can process up to 1,500 transactions per second. This makes it an ideal choice for enterprises that want to use blockchain technology in their businesses but don’t have time to wait for slow transaction speeds.
7. Cardano (ADA)
Cardano (ADA) is one of the most innovative cryptocurrencies in the market today and has been doing very well since its launch date in September, 2017, with a current market cap of $16 billion as of May 2022.
The cryptocurrency uses proof-of-stake, which makes it more environment friendly than other coins. Other cryptos, like Bitcoin, use proof-of-work consensus algorithms which utilizes large amounts of electricity to record and verify transactions on their networks.
This means that they consume more resources than Cardano does, thus, making it a good investment for anyone who cares about the environment as well as their investments.
In 2017, ADA’s price was $0.02. As of May 2022, its price is $0.50.
8. Solana (SOL)
Solana runs on a unique hybrid proof-of-history and proof-of-stake mechanisms that help it process transactions rapidly and safely. It started at $0.77 and is now valued at $48.70. The Solana project had been in the works since 2017, but the main network was finally launched in 2020.
Their goal is to create a scalable blockchain platform that can handle over 1 million transactions per second, while using just 10 kilowatts of power consumption per transaction.
This energy efficiency makes it ideal for enterprise use cases, such as global supply chain management or IoT devices that need to communicate with each other securely on a large scale without compromising performance.
Whether you are a beginner or an experienced trader, the cryptocurrency market is something you should not miss out on. To get you started on your road to crypto investing, this article highlighted some of the most popular, profitable, and scaling currencies in the market. You can visit any cryptocurrency exchange and start investing in a cryptocurrency of your choice, given you take precautions while trading.
Founder Dinis Guarda
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