Which are the Best Cryptocurrencies to Buy in 2022?
Cryptocurrencies have come a long way since their launch in the year 2009.
Bitcoin (BTC) has become the most valued cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
Today, more people are investing in cryptocurrency to enjoy its benefits including massive returns, wealth diversification, and more.
But the recent downfall in the value of cryptocurrencies might make it difficult for you to decide whether to buy a cryptocurrency or not.
While you can use cryptocurrency as a long-term investment, multiple brands across the globe are accepting it as a legal tender.
Here are some of the best cryptocurrencies that you can choose to buy in 2022.
What is Cryptocurrency?
Cryptocurrency can be defined as a digital currency that you can use for online payments and investments.
These currencies exist online on blockchain technology where each transaction is recorded on a public distributed ledger.
Cryptocurrency is protected by cryptography that effectively minimizes the risk of fraud.
Since cryptocurrency is a decentralized currency, neither a bank nor a government can intervene in your wealth.
You can buy cryptocurrency through a crypto exchange platform where many cryptocurrencies are traded.
In addition, crypto transactions are quick, and their fees are low as compared to bank transactions.
Carl Runefelt, alias, The Moon, is a global crypto leader who is pushing for the mass adoption of cryptocurrency.
He says, “Cryptocurrency is recognized across the world and is not affected by exchange or interest rates. It would also provide individuals living in economically fragile nations more stability and predictability.”
Best Cryptocurrencies to Buy in 2022
2022 has not been a wonderful year for cryptocurrencies so far.
The crypto market is bearish, and many coins have lost their value.
For example, BTC was valued at $60,000 in November 2021 and its current value is around $20,000 (as of September 2022).
But this downfall does not mean that cryptocurrency is a bad investment.
Such dips have taken place in the past as well and after which, cryptocurrency bounced back strongly.
As a crypto investor, you should buy cryptocurrency now when it is affordable to make a lot of money in future.
Listed below are some top cryptocurrencies that you can buy this year.
Bitcoin has become the leading name when it comes to cryptocurrency.
The world’s largest cryptocurrency by market capitalization has no other digital currency even half of its value.
More people are investing in BTC, thanks to its rising acceptance and increasing value.
In addition, the protocols of Bitcoin are designed in a way to provide an inflation hedge that only a limited number of BTC can be traded.
Carl emphasizes, “Keep accumulating all the time within your budget essentially and I think the big goal that is, of course, a cool thing is to own one Bitcoin because one Bitcoin is actually now quite expensive but soon it is going to be absolutely unobtainable for a normal person.”
You can buy one Bitcoin for $19,700 (as of September 2022).
Ethereum is the world’s second-largest cryptocurrency by market capitalization.
The current value of ETH is around $1,558 (as of September 2022).
Launched in 2015, Ethereum soon got the attention of crypto investors.
You can deploy smart contracts and create a cryptocurrency using the Ethereum platform.
The Ethereum platform aims at providing users better control over their data for enhanced efficiency.
In addition, you can also build applications on the ETH platform and run those on the blockchain.
Binance Coin (BNB)
Binance Coin is yet another important cryptocurrency that you can buy in 2022.
The coin is native to the Binance platform which is one of the world’s largest crypto exchanges to trade cryptocurrencies.
BNB reached an all-time high value of $683 in May 2021.
At present, you can buy BNB for around $276.
Cardano is among the most technically capable coins that take less energy to complete a transaction.
This means that crypto transactions with ADA are faster and cheaper.
Carl on his YouTube channel, The Moon, says, “The community around Cardano is building, and there will come a time when it will have smart contracts.”
Cardano has recently introduced a test version of AdaSwap which is a platform to build decentralized finance apps.
You can buy one ADA for around $0.49 (as of September 2022).
The popularity of cryptocurrency is increasing with time as people want to use digital currencies on daily basis.
2022 has so far not been an ideal year for cryptocurrencies as the crypto market is bearish.
But it is a blessing in disguise.
Cryptocurrency has bounced back from such downfalls in the past and the time is near when many coins would recover their lost value. You can start investing in the above-mentioned cryptocurrencies now when they are affordable to make a lot of money in future.