Cryptocurrencies have proven to be great investments over the years, despite the many ups and downs in the market. A couple of weeks in the recent past have not worked in favor of the cryptocurrency market, what serves to be a ray of hope is the bounce-back of the cryptocurrencies, though slow but steady. It's possible to get filthy rich by investing in cryptocurrencies before 2023 begins. Considering just how many cryptocurrencies are now in circulation, choosing the best cryptocurrencies for your portfolio is no easy feat. Here is the list of the top 10 best cryptocurrencies to buy in 2022 for good returns in 2023.
Solana matches up well with Ethereum in two critical areas for development, speed, and low transaction costs. Ethereum's structure limits transactions per second to 15-30 on its network, creating the bottleneck that results in high gas fees. It has attracted many crypto investors due to its revolutionary qualities.
Cardano is a third-generation crypto. Its characteristics offer the best combinations of first and second-generation cryptos, such as Bitcoin and Ethereum. It uses Proof of Stake (PoS) instead of Proof of Work (PoW), improving its sustainability compared to other cryptosystems. Experts recommend investing in Cardano.
Avalanche is one of the few blockchains that can scale without sacrificing decentralization. Its potential for interoperability with many blockchains is limitless. Avalanche blockchains alter consensus algorithms based on the use case, and the network has more validators than other networks. It is one of the best cryptocurrencies to buy before June to get rich.
Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable, eventually making MATIC deflationary by burning coins. Its purpose is to avoid over-flooding the market with token circulation, eventually improving the overall value of the token.
Ripple XRP is part of the rapidly-growing cryptocurrency universe that has enjoyed remarkable growth in fortunes over the past year – and continues to make headlines. Because of its consensus protocol, XRP can process transactions in seconds at a low cost and with minimal energy. This makes it one of the more environmentally friendly cryptocurrencies. Bitcoin transactions, on the other hand, aren't efficient. It is one of the top 10 cryptocurrencies to explode in 2023.
Ethereum, the second largest cryptocurrency, undoubtedly finds its place in the list of the top cryptocurrencies worth investing in. There are many reasons why this altcoin has grabbed attention. Its potential applications, particularly the smart contracts that automatically execute when conditions are met, are one of the top reasons.
As one of the top meme coins, Shiba Inu has witnessed huge gains since launching in 2020. Shiba Inu has performed so well that it is one of the most popular cryptocurrencies and is now among the top 20 cryptos in terms of market cap. Anyone who purchased just US$2 worth of SHIB in January 2021 was a millionaire by November, as SHIB rallied by over 48,000,000%. All these factors make SHIB the top crypto to invest in 2022, as it is still under 65% off its most recent highs.
Next up on the list of the best cryptocurrencies to invest in is Cosmos. This crypto focuses on the implementation and growth of blockchains to connect and communicate with each other. For Cosmos to compete with blockchains to use its innovative technology, the ATOM coin is required. Due to this, Cosmos is one of the best cryptocurrencies to consider right now.
Another digital currency to buy from the list of the best cryptocurrencies to invest in 2022 is The Sandbox. This crypto is a leading metaverse token that aims to connect the virtual and real worlds via unique NFTs whereby players from all over the world can explore the Sandbox ecosystem while communicating and networking.
Decentraland is also one of the best cryptocurrencies to buy in 2022 if the metaverse industry is something you wish to gain exposure to. Decentraland is similar to The Sandbox in its virtual world aspect and is also another solid cryptocurrency to consider.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.