One cannot deny the fact that the cryptocurrency market is one of the most volatile, yet, fast-moving markets. The year 2021 has been one of a kind for cryptocurrencies for the sole reason that the cryptocurrency market witnessed a roller coaster ride. Some cryptocurrencies made unfathomable gains whereas some busted massively. Taking such volatility into account, what 2022 has in store for these digital currencies is something that all the investors are looking forward to. On that note, have a look at the top 10 best long-term cryptocurrencies to buy and hold in 2022.
The king of all cryptocurrencies, ruling the entire crypto market, Bitcoin is the original cryptocurrency created in 2009 by an anonymous group under the name, Satoshi Nakamoto. Like most cryptocurrencies, Bitcoin runs on a blockchain, which is a network of thousands of computers that verifies transactions in real-time without interference from middlemen. It is the first choice of all crypto investors and that makes it one of the best long-term cryptocurrencies to buy and hold in 2022.
The Ethereum blockchain is an open-source public blockchain, and it has enabled the end-user to run a custom code with its smart contract feature. Ethereum blockchain has its cryptocurrency called Ether. Ether is the fuel of the network that uses it in the form of payment or execution fees of any transaction. The blockchain intentionally uses cryptocurrency to avoid wasteful code and remain chain healthy.
The third coin on the list is almost identical to Bitcoin, but for some minor changes. It's an open-source and peer-to-peer cryptocurrency. Also, it can be used as a script-based consensus network that makes it different from Bitcoin's mechanism. It is one of the best long-term cryptocurrencies to buy and hold in 2022.
Cardano is touted as the 'environmentally friendly' cryptocurrency as it aims to avoid the energy-intensive parts of the mining process seen with Bitcoin. It is the first large cryptocurrency that is based on the 'proof of stake' model. This model allows owners to stake coins and create their own validator nodes.
Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana's native token, powers the platform.
Polkadot is one of the most popular cryptocurrencies on the crypto market. The polkadot network offers low fees and higher speeds than other cryptocurrencies, which makes it a number one choice for crypto investors. Polkadot is perhaps the best of the rest when it comes to scalability.
Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. This creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors' portfolios. It is one of the best long-term cryptocurrencies to buy and hold in 2022.
Binance Coin is a product of the Binance exchange. Binance is one of the biggest cryptocurrency exchanges in terms of the trading volume. It supports more than 100 cryptocurrencies to trade. BNB coin is used to perform certain operations over the Binance exchange, such as exchange fees, withdrawal fees, and listing fees. The Binance team is providing a discount on fees if the user uses BNB coin to pay the fees.
This coin emerged when the Bitcoin community split in 2017 over the direction it should take. Bitcoin Cash may have a lower exchange value than its cousin Bitcoin, but it offers faster transaction speeds at a lower fee. It is one of the best long-term cryptocurrencies to buy and hold in 2022.
Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins.
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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.