Cryptocurrencies have been popularly growing day by day, not just simply buying and holding, but is going beyond that. Whether it be Bitcoin, Ethereum, or Ripple's XRP, these top cryptocurrencies are being slowly accepted as payment on online 'bridge' services like shopping.io, which enables purchases from sites such as Amazon or eBay. Cryptocurrencies are based on blockchain technology, which is a cryptographically secured ledger of all the transactions that are conducted. For this reason, people are excited to invest in something that permits decentralized, trusted transactions even when not controlled by a bank or a country. And most of the Indians are also looking towards cryptos as a potential currency. But this is where the investors get confused, what and where to invest. Here is the list of the top 10 cryptocurrencies in India to buy and hold in 2022.
Price Today: ₹ 40,49,594
Bitcoin is the most popular cryptocurrency in India. This is probably because it is the longest living cryptocurrency, valued the highest, along with a finite supply like gold. Proponents even call Bitcoin the 'gold standard of cryptocurrencies.
Price Today: ₹ 80.2
Tether was brought into the world out as the brainchild of individuals who felt that the cryptocurrency market was extremely unpredictable and agitating. As the premier stable coin, the Tether is fixed to the US dollar and encounters fewer vacillations contrasted with bitcoin. This alone makes the cryptocurrency the best alternative for bitcoin. Launched in 2014, tether allows users to experience the blockchain network while also encrypting their investments against major price surges and falls.
Price Today: ₹ 115.69
Cardano is a platform that is capable of running financial applications currently used every day by individuals, organizations, and governments from across the globe. Besides, the eco-friendly and transparent nature of Cardano makes it the perfect alternative for bitcoin. Cardano has also proved its potential as one of the best cryptocurrencies for Indian investors to buy in 2022.
Price Today: ₹ 0.002817
The final entrant in the list is Shiba Inu. This meme-based cryptocurrency has overtaken its long-stood rival dogecoin in the past month with an 800% price gain. Although market experts are not sure about its fluctuations as SHIB was launched in 2020, its currency performance in the market has outperformed many top cryptocurrencies.
Price Today: ₹ 14.33
Dogecoin is the first meme cryptocurrency started with a joke that trended on the internet a long time back. After keeping a position of safety for some since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theatres. In addition, enormous names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could make the DOGE price go berserk.
Price Today: ₹ 3,46,070
Another most valuable cryptocurrency in the world, the Ether token is based upon the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. Simply put, if today Bitcoin is gold, then Ether is silver. Ethereum introduced innovations to blockchain security and usage, with its 'smart contracts' becoming a platform for other applications.
Price Today: ₹ 1,376.10
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (Defi) tokens. An example of an automated market maker (AMM), Uniswap launched in November 2018 but has gained considerable popularity this year thanks to the Defi phenomenon and associated surge in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.
Price Today: ₹100.9
It is a utility token that allows users to use it as an intermediary between currency trades wherever a direct 'currency pair' exchange isn't available. It can supply up to one billion tokens. WRX is used in many transactions, such as deposits, withdrawals, rewards, and incentives. It is one of the best cryptocurrency exchanges in India. It is one of the top 10 cryptocurrencies in India's market.
Price Today: ₹ 7.4
Tron has a goal of decentralizing entertainment; its 100 billion tokens would be used by audiences to connect with content creators directly if it is music streaming videos. Direct transactions and distributed file sharing using blockchain are likely to make less expensive content who will have to buy Tron tokens. It is one of the best cryptocurrencies in the crypto market.
Price Today: ₹ 181.35
It was based on Ethereum smart contracts, MATIC tries to take us closer to a 'cross chain' platform. This permits the users to gain from the strengths of various blockchains and enables them to communicate with each other. This cryptocurrency is popular among investors who are hoping to add to the growth of decentralized finance such as borrowing and lending. It is one of the best cryptocurrencies to invest in 2022.
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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.