There are hundreds of different cryptocurrencies, ranging from Ethereum and Bitcoin to Tether and Dogecoin, making it challenging for newbies to crypto. To make things easier for newcomers in the industry and to get you started, here are the top cryptocurrencies to invest in 2022.
Bitcoin (BTC) is the very first cryptocurrency created by Satoshi Nakamoto in 2009. BTC, like many cryptocurrencies, is based on a blockchain, which is a distributed ledger that records all transactions across multiple computers. However, Bitcoin is maintained private and is safe from criminals because updates to the ledger must be confirmed by resolving a cryptographic problem, a process known as proof of work.
Bitcoin’s value has soared as it has grown in popularity. In May 2016, a single Bitcoin cost around $500. A single Bitcoin was worth roughly $29,000 on May 12, 2022. That’s an increase of much more than 5,700%.
Ethereum is also among the most worthwhile cryptocurrencies to invest in, in 2022. The Ethereum blockchain is used in the majority of the cryptocurrency projects discussed in this article. This appears to be true with nearly all of the meme coins as well as metaverse initiatives we’ve seen today, so Ethereum should be taken into account if you’re thinking of investing in the crypto industry.
If you are interested in investing in Ethereum for the longer term, despite the danger, it has shown to be a worthwhile investment.
The price of Ethereum has also risen dramatically. Its price increased by more than 32,000 percent from 2016 to early 2022, from around $10 to about $3,550.
Analysts believe that the price of Ethereum (ETH) seems to have plenty of room to rise in the future and that trading in Ethereum is a wise long-term investment. As a result, while Ethereum is currently undervalued, it may be advantageous to purchase and retain digital assets.
Tether is among the stablecoins, which entails that it is backed by fiat currencies, including the US dollar as well as the Euro, and has a value that is theoretically equivalent to one of these denominations. As a result, tether’s value is considered to be more stable than various other cryptocurrencies, which is why it’s preferred by investors who are frightened of other coins’ excessive volatility.
Dogecoin is one of the most undervalued cryptocurrencies to buy in for 2022. Last year, it was among the most desired cryptos to purchase. And besides, Elon Musk frequently tweeted nice things about it, assisting the meme coin in achieving massive returns. But, in 2022, is Dogecoin a wise purchase? To give you a better idea, Dogecoin was only worth $0.002 at the start of 2021.
In May of the following year, Dogecoin reached new highs of roughly $0.76 for each coin, a gain of more than 19,000 percent in just five months. However, Dogecoin’s price has since fallen precipitously, reaching a 52-week low of $0.13.
However, Dogecoin price forecasts indicate that by December 2022, the meme token will be worth more than $1. With that in mind, if you believe in the initiative, buying in Dogecoin now, at a significant discount, might provide a huge profit given the potential upside.
A Final Word
The article enlisted the top cryptocurrencies to invest in, in 2022. It outlined the basics of each cryptocurrency in the list, including future potential as well as hazards to evaluate before investing.
From what we have observed through rankings and overall ups and down in cryptocurrencies, Bitcoin, Ethereum, and Tether are among the top ones to invest in.