Best cryptocurrencies to invest in.
With the current market situation most cryptocurrencies prices are not stable. This is due to the price instability of bitcoin which is considered to be the parent of all cryptocurrencies. Despite that a number of cryptocurrencies are sprouting their own wings and making path for themselves to grow. Today we’ll talk about the best cryptocurrencies to invest in.
Multiformity is Key.
Currently there are so many cryptocurrencies in the market with each having its own purpose and use. They obviously have an overall use which is common to all but their specific uses bring the biggest joy. Some of the uses are
- It’s almost impossible for your crypto wallet to be frozen by authorities therefore they are censorship resistant and you can use them as an alternative means of payment.
- They earn interest upon staking or you can also participate in yield farming
- They have implemented the futuristic goal of non-cash remittances.
- Enabled investment in innovative early stage start-ups e.t.c.
Despite having great profits they also come along with great losses. Meaning Investing in cryptocurrency is risky but you can never be safe if you have only a single means of survival.
Do not be too timid and squeamish about your actions. All life is an experiment. The more experiments you make the better.
Ralph Waldo Emerson
The cryptocurrencies listed below can be purchased in any major DEX e.g. Binance, Coinbase e.t.c.
Before you decide on the cryptocurrency you wish to invest in make sure to consider the following :
- Consider the different categories of coins existing.
- Their volatility in the market
- Ease of trading the coin
I guess with that small knowledge you are now a bit ready to make a decision on which coin you’ll invest in. Now we can circle back to the topic
Best cryptocurrencies to invest In.
From here you’ll get a solid understanding of the best crypto of 2022 which you can venture into.
Piece of advice Never go headfast into investing in a coin because you saw its short term benefits. Instead, deep dive into it’s fissures and get a good and in-depth understanding of the coin before spending your money on it.
1. Bitcoin
This is obviously the top coin. It might have gone through a series of tough times in the past few months but it has still managed to hold on to its position despite it’s value decreasing.
Bitcoin was first introduced in the market back in 2008 and it has grown slowly to its current state. The coin has obviously had its ups and downs but afterwards it always finds a way to rise to its former glory. Currently, it has been losing its value but it somehow has managed to remain standing. This is not the first time it’s value has degraded, back in 2014, end of 2017 and the year 2018. It however rose back up as before. Its a stable cryptocurrency therefore for its price to be manipulated it would cost one a large amount of money.
2. Ethereum
This was the coin that brought forth the concept of smart contracts.
Smart contracts allow dApps to be launched on the blockchain. Meaning Ethereum supports the development and launching of dApps on its blockchain.
It therefore is considered stable since it has a large community depending on it and its a major part of decentralized applications. It’s also amongst the highly liquid cryptocurrencies therefore you will encounter no problems while buying or selling it.
3. Litecoin
This was among the first cryptocurrencies to join the market after Bitcoin. Its actually sort of a modified bitcoin with some slight changes to its code.
Its among the most liquid coins and it has a very large market cap. This means that its among the most viable cryptocurrencies. It’s among the original altcoins and its much cheaper than Bitcoin thus being among the best crypto coins to purchase in 2022.
4. Binance Coin.
This is the first utility token which has proven strong enough to survive the difficult market situation.
A utility token is a coin whose value is dependent on its usefulness and demand. The coin has risen to be among the most liquid cryptocurrencies in 2022. With its impressive stability and growing trade volume the coin has maintained well-ranked on CoinMarketCap and that has led to it being considered as one of the most promising cryptocurrencies of the year.
The coin has a lot of case uses therefore its demand will probably increase as time goes and more of its uses are discovered.
5. Cardano
This is Ethereum’s and NEO’s competition since its considered to be more scalable than the both of them.
The coin has two layers of technology which are used for tracking ledger balances and transferring values thus making it a bit more scalable. In addition, it has made use of two different programming languages which have made easier the process of decentralized app development.
Its liquidity is high due to its high daily trading volumes and its more volatile compared to other existing cryptocurrencies.
Conclusion
Today we’ve researched on the best cryptocurrencies to invest in currently. These are the top 5 according to our research, though, there are many more out there.
With the current market situation we don’t really expect a huge change in the list but there will definitely be other rising cryptocurrencies with time.
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