Cryptocurrencies are gaining a lot of prominence these days. Cryptocurrency is a kind of payment that is used to exchange products and services via the internet. Cryptocurrencies are the most trending topic spoken everywhere across the globe these days. These currencies always intend to be resistant to government exploitation and control, though this fundamental feature of the industry has come under fire as it has increased in popularity. Many big tech companies such as Apple, Google, Samsung, Facebook, PayPal, and Deutsche Bank have recently included cryptocurrencies in their long-term strategic plans. The cryptocurrency market is thriving with thousands of cryptocurrencies like Bitcoin, Ethereum, and more. This article features the top 10 cryptocurrencies to buy in January 2022.
The first-ever digital currency continues to top the crypto charts, though its dominance is waning slightly. A year ago, the market cap of Bitcoin was around $550 billion, representing over 60% of the total cryptocurrency market. Today, with a market cap of almost $1 trillion, Bitcoin only makes up about 40% of the total market. It is one of the best crypto currencies to buy in January 2022.
As the second-largest cryptocurrency, Ethereum has gained lots of traction lately. The year 2021 was crucial for the network because it showed how much real-world utility its smart contract capabilities have with things like non-fungible tokens.
Solana is a public blockchain platform, achieves consensus using the proof of stake mechanism. Its internal cryptocurrency is SOL. Anybody who wanted to build decentralized apps (dApps) built them on the Ethereum network. It is one of the best cryptocurrencies to buy in January 2022.
Polkadot is one of the most popular cryptocurrencies on the market. One of the key differences between Polkadot and other coins is the low fees and higher speeds that the Polkadot network offers as compared to other crypto currencies.
Tether is a second-layer cryptocurrency token built on top of Bitcoin's blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. It is one of the best crypto currencies to buy in January 2022.
After some time in the cryptocurrency market emerged Cardano which has now become notable to embrace proof-of-stake validation. This method of transaction time decreases energy usage and also environmental impacts by easy problem-solving aspects of the platforms such as Bitcoin's. Cardano is also useful like Ethereum in enabling smart contracts and decentralized applications that are powered by ADA.
The Binance Coin is a form of cryptocurrency used to trade and pay fees on Binance, one of the largest crypto exchanges in the world. The coin was launched in 2017 and used for trading, payment processing, or even booking travel arrangements. One can trade and exchange Binance Coin for other top crypto currencies. It is one of the best cryptocurrencies to buy in January 2022.
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer. They decided to create a payment system as a joke, making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect.
USD Coin is another stablecoin that is pegged to the U.S. dollar. USDC has tried to position itself as a more transparent project than Tether but has still faced questions like how the coin is backed? It is one of the best crypto currencies to buy in January 2022.
Terra is a global digital payment system that is based on something called algorithmic stablecoins. These are pegged to various fiat (traditional) currencies, such as U.S. dollars or euros, and the LUNA token is part of the mechanism that keeps the prices stable.
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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.