Cryptocurrency is a digital property that can be traded freely, independent of a bank or centralised authority. Cryptocurrencies can be stored as an investment or make online purchases without the need for a mediator like a bank.
There are over 20,000 crypto coins active as of July 1, 2022, accounting for the whole $870 billion cryptocurrency market. It is essential to invest in the best crypto in order to get substantial profits for your investment.
Top Cryptocurrencies To Invest In 2022:
The list of cryptocurrencies keeps on growing, making it somewhat difficult for beginners to invest in the best crypto coins. Here are some of the active cryptocurrencies that have the potential to rise and enhance the profits of your investment.
1. Bitcoin (BTC):
The first cryptocurrency is Bitcoin (BTC). It operates on a blockchain – a ledger that records transactions and is shared across a network of thousands of computers.
As Bitcoin has gained popularity, its price has risen. The price of a single Bitcoin in May 2016 was roughly $500. On July 1, 2022, the cost of one Bitcoin was around $19,400. It is an increase of about 3,780 per cent.
2. Binance Coin (BNB):
Binance is one of the biggest cryptocurrency exchanges in the world, and it accepts payments in the form of Binance Coin (BNB). It has grown since it was introduced in 2017.
As of now, it can be utilised for trading, processing payments, or even making trip plans. In 2017, BNB cost only $0.10. However, it was selling for about $215. It is up almost 214,900 per cent.
3. Ethereum (ETH):
Ethereum is the second-largest cryptocurrency by market capitalisation and has increased dramatically since its debut in 2015. The fact that it can build smart contracts and has quicker transaction rates than Bitcoin is its most notable feature.
The cost of Ethereum has also significantly increased. Its price improved by more than 32,000 per cent, from roughly $10 to $3,550 between 2016 and 2022. According to analysts, there is still a lot of space for growth in the price of Ethereum (ETH), making it decent for long-term investment.
4. Cardano (ADA):
Due to its early adoption of proof-of-stake validation, Cardano (ADA) is noteworthy. By eliminating the agile, problem-solving element of transaction confirmation in systems, this technique reduces energy consumption, speeds up transaction times, and has a limited negative impact on the environment.
In comparison to other significant crypto coins, the growth of the ADA token has been somewhat modest. The value of ADA was $0.02 in 2017, and its cost was $0.44, which is a 2,100 percent increase.
5. Litecoin (LTC):
Litecoin was introduced as a quicker and more effective alternative to Bitcoin. The value and market capitalization of Litecoin over the last quarter remains $151.75 to $100.62 and $10.27B to $7.46B.
Litecoin utilises a proof-of-work consensus mechanism and has a maximum number of coins (Litecoin’s market capitalisation is 84 million). Therefore, if the cryptocurrency supply reaches its maximum, no more money will be added to the system.
6. Polygon (MATIC):
With a market valuation of about $4.6 billion, Polygon seeks to accelerate the adoption of crypto coins by enhancing Ethereum’s scalability. By enabling potentially countless decentralised applications or Apps to run on Ethereum, Polygon’s technology hopes to increase the usability of the platform for all users.
The above-listed cryptocurrencies have the potential to increase their value over time, making them a safe investment for crypto novices. These crypto coins have a decent ROI rate, and users can get profits if traded correctly.