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Half a decade ago, Bitcoin was just US$0.4 worth and Ethereum was not even in existence. But today, there is hardly any person in this world who doesn't know about cryptocurrencies. A cryptocurrency (or "crypto") is a digital currency that can be used to buy goods and services but uses an online ledger with strong cryptography to secure online transactions. This makes it overwhelming for new traders to curate a safe investment strategy. The most popular cryptocurrency, bitcoin, has had volatile price moves this year, reaching nearly US$65,000 in April before losing nearly half its value in May. However, not all cryptocurrencies carry the same value.
From Bitcoin and Ethereum to Dogecoin and Tether there are thousands of cryptocurrencies in regulation today. In this article, Analytics Insight lists the top 10 cryptocurrencies to watch and invest in before 2022 begins.
One cannot start the list of the top 10 cryptocurrencies without the king of them all. Launched in 2009 as the first digital token, Bitcoin has managed to break many records since its inception. It is a decentralized digital currency, without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Ethereum is a technology that's home to digital money, global payments, and applications. Ethereum is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run effectively. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization.
Next on the list of the top 10 cryptocurrencies to watch and invest in before 2022 begins is Solana. The past few months were an eventful year for Solana as its price soared up by 17,500% since the beginning. Solana has been a top performer in 2021, rising through the ranks of altcoins to become the fifth-most-valuable cryptocurrency in the world.
After maintaining a low profile for a long time, Dogecoin entered the mainstream crypto market after the 2020 Bitcoin rally. Many different types of businesses accept DOGE, with some of the highest-profile including Elon Musk's SpaceX and the Dallas Mavericks. Many Dogecoin holders use their DOGE to tip content creators on Reddit and other social media platforms.
Cardano is the third-generation cryptocurrency that integrates the hallmark features of the first-generation, Bitcoin, and the second generation, Ethereum. Its platform provides an efficient alternative to the standard Proof of Work (PoW) network used by Ethereum and similar tokens. It is one of the best cryptocurrencies to buy before 2022 begins.
Binance Coin (BNB) may be an excellent choice if you want to invest in a major cryptocurrency other than Bitcoin or Ethereum. Binance Coin is developed and marketed by Binance exchange. BNB is used as a utility token to pay for trading fees and transactions at a lower price.
Like Tether, USD is a stablecoin that is backed up by U.S. dollars and aims for a 1 USD to 1 USDC ratio. Investors who want to explore the crypto space without taking on excessive risk would prefer a stable cryptocurrency such as USD Coin. USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs.
Created by the same founders as Ripple which is a digital technology and payment processing company. XRP can be used on that network to facilitate exchanges of different currency types of top cryptocurrencies such as BTC, ETH, DOGE, and many more. It is one of the best cryptocurrencies to buy before 2022 begins.
Litecoin is one of the best cryptocurrencies to buy before 2022 begins as has a maximum of 84 million coins which is four times as many as Bitcoin. While coming to the block generation time of Litecoin is about 2.5 minutes per block with this speed transactions are confirmed more easily and quickly than that of Bitcoin's network which takes about 10 minutes to confirm the transactions.
Cryptocurrencies may use any number of blockchains aimed to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. It is estimated that the coin price could average US$46.02 in 2022 and rise to US$54.42 in 2023 and US$78.2 in 2025
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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.
