A cryptocurrency is defined as digital or virtual money in coins or tokens. There are a few cryptocurrencies that have entered the physical world through credit cards or other schemes, the vast majority of cryptocurrencies still remain entirely virtual. The term “crypto” refers to the complex encryption that enables the creation and processing of digital currency and its transactions across decentralized platforms. A common approach to decentralization goes hand in hand with these cryptocurrencies’ crucial “crypto” element. These are often produced as code by teams which include methods for mining and other controls.
Cryptocurrencies are free of political control and domination, yet this fundamental business component has come under question as it has risen in popularity. In this article, I have compiled a list of the top ten cryptocurrencies to invest in 2022.
2022 Top 10 Cryptocurrencies for Investment
Bitcoin has a market cap of over 1.17 trillion USD as of November 2021. Bitcoin (BTC) is the first cryptocurrency created in 2009 under the alias Satoshi Nakamoto. It depends on a blockchain like most cryptocurrencies, a distributed ledger that logs transactions over a network of millions of computers. Bitcoin is maintained safe and secure from scammers because its updates to the distributed ledgers are confirmed by completing a cryptographic problem. This process is known as proof of work. Its value has soared as it has grown in popularity. A Bitcoin used to cost around $500 just five years back. Today, the price of one Bitcoin is above $62,000. It equates to a 12,300% increase.
Ethereum has a market cap of over $520 billion as of November 2021. Ethereum is a favorite cryptocurrency of developers for practical uses, such as smart contracts that run when requirements are satisfied and non-fungible tokens. Ethereum is a blockchain and cryptocurrency platform (NFTs) that has also exploded in popularity. Its value increased about 40,000% within only five years, from around $11 to about $4,400.
BNB has a market cap of over $88 billion as of November 2021.
Binance Coin is a cryptocurrency used to exchange and make payments on Binance, one of the biggest crypto exchanges in the world. Binance Coin has grown beyond conducting deals on Binance’s exchange platform since its introduction in 2017. Now, it is used for payment processing, trade, and even in making travel reservations. BNB can also be exchanged or traded for other cryptocurrencies like Bitcoin or Ethereum. It was only $0.10 in 2017, and today, it has climbed to approximately $530, a gain of almost 530,000%.
USDT has a market cap of over $70 billion as of November 2021. Tether is a stable coin, which is supported by fiat money such as the Euro and the US dollar. It has a value that is theoretically equal to either of those denominations. Tether’s price is intended to be far more stable than other currencies, which is why it is appreciated by investors who are frightened of other coins’ excessive fluctuation.
ADA has a market cap of over $66 billion as of November 2021. Cardano is well-known for being one of the first crypto projects that use proof-of-stake validation. By eliminating the competing, problem-solving part of transaction verification found in cryptocurrencies like Bitcoin, this solution reduces transaction time, energy consumption, and effect on the environment. It functions similarly to Ethereum in that it uses ADA, its native coin, to allow decentralized apps and smart contracts. Cardano’s ADA token has grown slowly in comparison to other prominent crypto coins. The price of ADA in 2017 was $0.02. Its current price is $2.01 that represents an almost 10,000% gain.
SOL has a market cap of over $60 billion as of November 2021.
Solana is a cryptocurrency created to fuel decentralized finance (DeFi), decentralized apps (DApps), & smart contracts. It utilizes a hybrid proof-of-stake and proof-of-history method to conduct transactions rapidly and reliably. SOL, Solana’s native cryptocurrency, powers the platform. SOL’s pricing began at $0.77 when it was launched in 2020. Today, it is about $201.91 that is a gain of more than 26,000%.
XRP has a market cap of over $50 billion as of November 2021. XRP is a cryptocurrency founded by digital technology and payment processing companies, who started Ripple. It is used to ease the transfer of many currency kinds, notably fiat money and other major currencies. The cost of XRP was $0.006 at the start of 2017. Today, Its price has risen by 17,900% to $1.08.
DOT has a market cap of over $43 billion as of November 2021. Polkadot wants to unify cryptocurrencies by developing a network connecting the many blockchains to work collaboratively. Since Polkadot’s inception in 2020, this combination has sparked significant growth and may transform how cryptocurrencies are maintained. Its price increased by almost 1,400% from $2.93 to $44.19 from its creation in 2020 to now.
SHIB has a market cap of over $41 billion as of November 2021. Shiba Inu was founded in mid-2020 and is one of the most recent cryptocurrencies to gain popularity. SHIB works on the Ethereum network. It started at $0.0000000014 and now trades for $0.00007567, a 5,400,000% gain in value.
DOGE has a market cap of over $38 billion as of November 2021.
Celebs and entrepreneurs like Elon Musk have made Dogecoin a popular cryptocurrency. Dogecoin was popularly established as a joke in 2013, but crediting its committed community and memers, it quickly became a popular cryptocurrency choice. Unlike most other cryptocurrencies, there really is no cap to how many Dogecoins may be bought, making it vulnerable to depreciation as supply grows. Its price was $0.0002 in 2017, and today, it is at $0.29, which is an almost 145,000% gain.
This is our list of the top ten cryptocurrencies to invest in 2022. Along with this, we have a solution to secure your cryptocurrency as well which is EFANI. Check out their website to get more information on how they help you stay secure from fraud and scams.
