Cryptocurrencies have undoubtedly changed the way we think about investments as a whole. Unlike stocks and bonds, cryptos are traded 24/7, 365 days a year, and have high levels of volatility.
Because of this, cryptos are seen as precarious investments that can either result in huge losses or massive profits. As we’ve seen, cryptocurrencies are susceptible to market manipulation and constantly scrutinizing governments.
Nevertheless, the potential for profit means that cryptocurrencies are one of the most exciting investments available. This means you should already take a peek at the best crypto wallet app reviews by Tezro to keep your assets safe.
And now, as we step into 2022, join us as we take a look at the best cryptocurrencies that you can invest in today.
Described as being “a potential long-term rival for Ethereum” by Joanna Ossinger, Solana (SOL) features an optimized blockchain that allows it to support various projects such as NFTs, DeFi apps, and Web3, just to name a few.
The Solana blockchain works on the proof of stake mechanism and boasts faster transaction speeds and lower transaction costs. Characteristics that make Solana very much worth looking at.
Given the crypto’s design foundation, it is clear that it was specially built to rival Ethereum and its capabilities.
In 2021, Solana’s prices exploded from just $0.43 to $195 towards the end of December 2021 – netting investors a remarkable 45,000% gain. At the time of writing, Solana is hovering at around $145, with prices expected to rise accordingly in the days to come.
Ethereum (ETH) has always been seen as the less flashy silver to Bitcoin’s gold. But when you take a closer look, it’s easy to see why Ethereum has been able to hold its own in a market dominated by Bitcoin.
With Ethereum 2.0 expected to launch sometime in early 2022, many predict that Ethereum may finally be able to showcase its true abilities. The Ethereum 2.0 update promises better scalability, faster response times, and lower transaction fees, undoubtedly strengthening the cryptocurrency’s position in the market.
Furthermore, these issues have plagued Bitcoin for years, with users complaining about longer transaction times and high fees.
This is because Ethereum will be abandoning the proof-of-work consensus and swapping over to proof-of-stake for its blockchain validation purposes. All of this means that 2022 could mean a sleeker, more efficient Ethereum and higher valuations as investors start to take note.
3. Binance Coin
While it isn’t exactly regarded as a stablecoin, Binance Coin (BNB) is one of the more stable tokens on our list. Originally, Binance Coin was first issued by the crypto exchange Binance to allow users to pay trading fees.
It can also be used as a medium of exchange on Binance’s payment platforms which is why BNB is regarded as a utility coin.
BNB is a worthwhile buy because Binance has been slowly but steadily expanding its presence worldwide. And thanks to Binance Coins’ lower transaction fees and faster response, there is plenty of room for price valuations to grow.
Widely recognized and accepted worldwide, Bitcoin (BTC) is still the gold standard for cryptocurrencies. Prices of Bitcoin hit an all-time high of $69,044 in 2021 but failed to close out the year on a high note after prices fell to around $43,000.
But this doesn’t mean that Bitcoin is down and out for the count – far from it.
Many analysts predict that 2022 will see more countries begin accepting Bitcoin as legal tender, thus leading to a rise in Bitcoin prices once the demand for BTC tokens begins rising.
Investing in cryptocurrencies is a hazardous affair that needs to be treated with extreme care.
Only invest what you’re prepared to lose and always do your market research before committing yourself.