Many cryptocurrencies have done well in the past and have the potential to perform much better in the future. The competition is increasing significantly in the cryptocurrency market.
For instance, arguing between Ethereum and other cryptocurrencies with exponential growth potential is pretty common. If you are new to this market, you may find it challenging to figure out how to buy cryptocurrency for the first time.
Fortunately, several cryptocurrency exchanges provide reliable services. Among the best crypto exchanges are Kraken, Gemini, Coinbase, and Paybis, which offers the simplest way to buy any crypto instantly.
While you can purchase goods and services with cryptocurrencies, most people see them as long-term investments. However, the recent freefall across cryptocurrencies illustrates how volatility makes investing in cryptocurrencies risky.
Before investing in cryptocurrency, you must research and know the risks associated with cryptocurrency investing.
Best Cryptos to Buy Now
This is a list of a few best crypto to buy that can be suitable investments in 2022.
If you are just starting in the cryptocurrency space, it might be a good idea to start with the ones mentioned here:
Bitcoin is the biggest cryptocurrency and has been around for the longest. It is the market leader, with a price and market cap particularly more significant than any other cryptocurrency investment alternatives.
Based on market valuation, Bitcoin is the largest cryptocurrency, so it is a good idea for every cryptocurrency investor to have some exposure to it.
Since reaching record highs at $69,000 in November, it is currently trading at around a third of that price, somewhere around the $25,000 level. Long-term investors shouldn't be frightened by BTC's current bear market because BTC's history is filled with significant declines and incredible rallies.
On the Ethereum platform, developers are able to build their own cryptocurrency and implement smart contracts. Ethereum is significantly ahead of its competitors even though its valuation is much behind that of bitcoin.
It was introduced years after other cryptocurrencies, but its unique technology has done significantly better than expected. It is currently the most popular blockchain and the second-largest cryptocurrency after bitcoin.
- Binance Coin:
After Bitcoin and Ethereum, Binance Coin is the third-largest cryptocurrency by market cap, excluding stablecoins. BNB is a native token of Binance, the popular cryptocurrency exchange.
A prominent leader in the cryptocurrency industry, Binance has many projects related to blockchain and DeFi. BNB is undoubtedly the front-runner in the race to become a pure blue-chip cryptocurrency, competing with Bitcoin and Ether.
Cardano first entered the cryptocurrency world in 2017, and by 2021, it was one of Ethereum's most significant and potential competitors. Since its launch, Cardano has proved to be a top competitor of the cryptocurrency market. Cardano reached an all-time high of $3.10 in September 2021 due to the news of the introduction of smart contracts.
With the rest of the cryptocurrency market, Cardano also crashed. Currently, the price of Cardano is 72% below its all-time highs. Investors are looking to buy it at a low cost since there is a good chance that the price will catch up as adoption picks up. Due to its current low price, Cardano is one of the top choices to purchase right away while it is still undervalued.
Tether (USDT) is a stablecoin, which means it is backed by fiat currencies like U.S. dollars or euros and theoretically maintains a value equal to one of those denominations, unlike other types of cryptocurrencies. Investors afraid of the severe volatility of other coins choose Tether since, in principle, its value is intended to be more stable than that of other cryptocurrencies.
In two crucial areas for development, speed and low transaction costs, Solana and Ethereum compare favorably. Due to a bottleneck caused by the structure of Ethereum's network, it limits the number of transactions per second to 15 to 30, so a significant increase is seen in the gas prices. On the other hand, due to its revolutionary features, Solana has drawn in many cryptocurrency investors.
Decentralized apps, smart contracts, and decentralized money are all supported under the platform known as Solana (DeFi). It employs a unique hybrid proof-of-stake and proof-of-history method to handle transactions quickly and securely. SOL, Solana's native coin, controls the platform.
SOL's pricing started at $0.77 when it launched in 2020. Early in August 2022, it increased by almost 5,300% to about $41.55.
Avalanche is a brand-new "layer one" blockchain that enhances the fundamental protocol to increase the system's scalability. Ava Labs and computer scientists at Cornell University established it as a rival to Ethereum.
Unlike Ethereum, where every node must validate each transaction, Avalanche's three distinct blockchains allow for autonomous transaction validation. As a result, Avalanche is more scalable and capable of handling high transaction volumes, up to 6,500 per second. It consequently enjoys rising popularity among Ethereum projects, according to U.S. News.
Dogecoin was famously created in 2013 as a joke, but it quickly gained popularity as a cryptocurrency thanks to a passionate community and clever memes. Dogecoins can be manufactured unlimitedly, unlike many other cryptocurrencies, which makes the currency vulnerable to devaluation as supply rises.
In 2017, Dogecoin cost $0.0002. On August 1, 2022, it was worth $0.067, an increase of 33,400%.
Ripple (XRP) can be used to speed up exchanges involving a variety of different currencies, including fiat money and other key cryptocurrencies. Some of the same founders created Ripple, a business that deals with digital technologies and payment processing.
At the beginning of the year 2017, XRP was worth $0.006. Its price increased by 6,066% to $0.37 as of August 1, 2022.
There are many advantages that Terra (LUNA) offers in the market. It is best suited for the digital economy because it is decentralized and permissionless. The network provides reasonable programmable payments, logistics, and an infrastructure that makes it easier to construct Dapps and stablecoins.
The use cases of cryptocurrency are expanding. This implies that these best cryptocurrencies have a bright future.
However, you should be aware of the fact that cryptocurrencies are highly risky as you make investments.
Investing what you can afford to lose while making financial decisions is wise.
Sylvia Silverstone is a passionate writer who loves to share her knowledge and expertise on a wide range of topics, including beauty, life hacks, entertainment, health, news, and money. With a keen eye for detail and a talent for storytelling, Sylvia's engaging writing style keeps readers coming back for more.