Cryptocurrency is becoming more and more popular as the years go by. There are over 500 traded cryptos. The current value of cryptocurrency sits at $95 billion. That is a lot of money spent on cryptocurrencies all within a short period.
Having said all that, let us look at seven exciting and popular cryptocurrencies in 2022 you can invest in.
#1 Bitcoin Cash (BCH)
Bitcoin is the most popular cryptocurrency of all time. Cryptocurrencies are digital assets that can be used as forms of payment and transaction on the internet. However, Bitcoin is different from other cryptocurrencies because it is the first one.
What makes Bitcoin unique among cryptocurrencies is its market liquidity. In other words, there are more people trading Bitcoin than any other cryptocurrency in existence. That creates stable cryptocurrency prices for Bitcoin, which means that you can use it to buy things (like groceries!) rather than relying on the value of your asset fluctuating drastically over time. Although hundreds of different cryptocurrencies exist today, many merchants accept only Bitcoins.
#2 Ethereum (ETH)
Ethereum is the second-largest cryptocurrency by market cap, behind only bitcoin. It is worth just over $138 billion as of November 2019. Vitalik Buterin created Ethereum as an alternative to a bitcoin platform that could enable more complex smart contracts and decentralized applications.
Ethereum is designed to be a more flexible platform than Bitcoin, and it has been much more successful at getting developers to build on its network.
In 2018, more than 25,000 active dApps (decentralized applications) were running on Ethereum. The Ethereum network is powered by ether (ETH), the native token of the network. Ether is used to pay for gas costs and transaction fees when using the Ethereum network.
#3 Litecoin (LTC)
The anticipated future success of Litecoin has been greatly bolstered by its creator, Charlie Lee, who has been the subject of much speculation regarding his motives for creating this altcoin. After all, it’s hard to believe that someone who created a cryptocurrency could be motivated to keep working on it if he could not see a big return on investment.
However, while Lee is in the limelight because of his involvement with Litecoin, it’s important to remember that Litecoin itself isn’t just another altcoin. It’s one of the oldest cryptocurrencies and is used for buying and selling things—and not just digital pieces of paper or digital gold.
Today, many people use Litecoin as a medium of exchange with traditional fiat currencies such as US Dollars or Euros. Other people value their LTC tokens because they believe these tokens have a bright future as something more than just an underground alternative to Bitcoin like other altcoins have become.
#4 EOS
Some of the most popular cryptocurrencies from 2017 have been designed with a specific purpose in mind. You’ve heard of cryptocurrency exchanges that let you buy and trade Bitcoin. However, others were created with a whole different goal in mind. EOS is one such currency.
Bitcoin has had phenomenal success since its release in 2009 due to its ability to operate without human intervention—meaning it’s a more efficient, cost-effective, and secure way to transfer funds between parties worldwide. It’s also worth noting that Bitcoin is incredibly stable; once you purchase Bitcoins, they’re yours, and their value will not fluctuate drastically over time (though they may lose value against major currencies such as the US dollar).
EOS was created by Block.one as a platform on which new blockchain applications are launched. It allows users to create smart contracts between one another, facilitating transactions of information and other types of data via blockchain technology—but why would you want to use EOS instead of Ethereum?
Ethereum already exists as a platform for creating decentralized applications (dapps) via smart contracts; EOS does so as well, yet it aims to be faster and easier than Ethereum by providing better scalability and inter-blockchain communication abilities (Ethereum makes it difficult for dapps on one chain to communicate with another). In this way, it’s similar to Cardano, which provides advanced features for DApp developers that don’t exist yet in either Bitcoin or Ethereum.
A future where these three currencies are used interchangeably is plausible; however if you’re looking at making some investments now, we recommend keeping an eye out for them as they continue developing into promising technologies that could transform how money works across the globe.
#5 Tron (TRX)
In 2021, Tron released a whitepaper announcing their platform. That decentralized blockchain-based technology is capable of operating a completely free and open internet. The Tron Protocol allows individuals to freely publish, store, and own data in a decentralized autonomous form. It also ensures that users can remove themselves from the network at any time without facing censorship or interference from third parties.
As an entirely self-invented cryptocurrency based on the Ethereum blockchain, TRX is both a utility token within its network and a means of payment for other cryptocurrencies. With its unique structure and economic model, Tron is appealing to both investors and developers who contribute to its ecosystem with their work in exchange for TRX tokens.
TRON is becoming more widely accepted by other networks like Binance Chain. It is also incentivizing users within its community.
TRON might not be one of the most well-known crypto coins out there yet, but it stands tall among others like NEO that have been around for much longer; it has plenty of room for growth as more people become aware that it is here.
#6 Cardano (ADA)
The Cardano cryptocurrency is the work of several former Ethereum core developers who’ve spent years working on this project but don’t be fooled into thinking that it’s going to be a direct competitor to Ethereum.
The Cardano cryptocurrency is more complex and has more advanced features, but also comes with several downsides. It offers a degree of privacy and security not found in other cryptocurrencies (though these aren’t as strong as those seen in Bitcoin).
So, it might not be the best choice for people who are worried about their private information being accessed by hackers or eavesdroppers.
Cardano is designed to be able to scale more effectively than its competitors, which could result in higher transaction fees, particularly if the increased demand exceeds the ability of the system to handle them (and transaction fees will likely continue rising over time).
Cardano also doesn’t have much in terms of available investment opportunities—its ICO was only one day long and raised less than $60 million. To get involved with this cryptocurrency, you’ll need a lot of patience. If you haven’t heard anything about Cardano from October 2017 up until now, chances are that you’re not going to hear anything else about it for quite some time (if ever).
#7 Monero (XMR)
Monero (XMR) is one of the most popular privacy coins on the market, but its most valuable feature doesn’t come from privacy alone. Unlike other cryptocurrencies that are either not fungible or not private, Monero offers both in a single package.
Cryptocurrency transactions are traceable by default, which means that any un-private coin can be tracked and connected to a specific user’s blockchain history (and thus identity). That makes many of these coins unsuitable for commerce because users running businesses built on top of them would have to forfeit their anonymity to be compliant with regulations.
Monero fixes this problem by using cryptography to obfuscate both transaction IDs and the senders’ and recipients’ addresses. Since there is no way to associate an output from one transaction with an output from a different transaction, each outgoing transaction creates new funds that cannot be tied back to any previous transaction(s). Monero’s privacy protection makes it completely fungible—no one can tell the difference between two XMR tokens sent at different times.
With all of these features in mind, XMR looks like a good investment for 2022—a year which will likely see growing demand for privacy coins as regulators become more aware of how public blockchains can make users vulnerable.
The global regulatory environment surrounding cryptocurrency will likely become even stricter than it currently is. We could see exchanges disallowing cryptocurrencies through their Know Your Customer (KYC) processes. That is if they believe that those cryptocurrencies don’t meet regulatory standards or have been involved in illicit activities.
Now that you know what the cryptocurrency markets look like and how valuable these cryptos are, which one do you want to invest in? Keeping the cryptocurrency value volatility in mind, choose your crypto wisely.
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