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Investing in cryptocurrencies might be challenging. Its sudden rise and downfall in prices have kept several aspiring investors away from the market. But the recent growth of the global crypto market in 2021 has made the younger generation more enthusiastic about cryptocurrencies and the crypto market. College students especially want to start investing in these digital assets and take early steps towards securing their future. Even though Bitcoin has emerged as the most trusted and widely used cryptocurrency for transactions, it might not be on the affordable side for school and college students. There are other stable and cheap cryptocurrencies that students can check out in 2022 and consider for investments.
Cardano is a digital currency that was created by a group of research scientists, engineers, mathematicians, and cryptography experts. The crypto is well known for its proof-of-stake consensus algorithm that reduces energy consumption, unlike several other major cryptocurrencies. Many experts and investors already consider it as 'Ethereum killer' due to its capability on the blockchain.
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. Algorand became recently popular in 2021, after its massive price rally. ALGO's systems are secure, scalable, and efficient, and supports computations that require reliable performance to create new forms of trust.
Polkadot is a sharded open-source multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data of asset types. The crypto was designed to create a foundation for the decentralized internet of blockchain, Web 3.0.
Tether is a stablecoin, which means its unit is pegged to the US dollar, facilitating minimized volatility in the crypto. It can be used for the conversion of cash into digital currency. The crypto is built on open blockchain technology and is controlled by Bitfinix.
XRP is the native token of Ripple, which is a digital technology and also a payment processing company. XRP can be used on the Ripple network to permit exchanges of almost all cryptocurrencies along with fiat currencies. XRP also provides several other benefits making it a perfect option for students to invest in.
Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. With the help of its decentralized oracle network, LINK allows blockchains to securely communicate with external data feeds, and events and payments methods. It is run by a large open-source community of data providers, node operators, smart contracts, and more.
Crypto.com is the native of Crypto.com Chain, which is a decentralized, open-source blockchain network created by Crypto.com payment, trading, and financial services company. In the future, the creators of this coin plan on expanding its services to other products as well.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. The core component of this crypto is the Polygon SDK that is a modular, flexible framework that supports building multiple types of application on it.
True USD is a regulated stablecoin that is also backed by the US dollar. The coin was launched in 2018 and follows the 1:1 ratio. It can be used for earning interest via its staking, mining, owning. True USD is available on cryptocurrency exchanges like Binance, Huobi Global, and others.
Even though Litecoin falls on the pricier side of the list, it is a good investment for those who are looking for a Bitcoin alternative at a more affordable price. It was built on a global payment network, which is open source, and like Bitcoin, it is not controlled by any central authority. Litecoin is very similar to Bitcoin in many ways. Apart from developers, many merchants are also accepting LTC.
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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.
