Top 10 Crypto Currencies To Invest In 2022
This is the January of 2022 and it’s a new year, you might just be thinking about a new year investment resolution that can turn your life around before the year end. If you thinking in the direction of crypto currencies, then we got you covered, we will be giving you a list of Top ten cryptos that can change your life this new year.
Satoshi Nakamoto created Bitcoin in the year 2008, little did we all know that he has just created something that will revolutionize finance forever. Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
Bitcoin’s price has risen greatly as it’s become a popular name. some crypto enthusiasts refers to it as the father of all crypto currency since it was believed to be the first crypto currency ever created. Companies and individuals like Tesla has also accepted cryptos as a means of exchange. In 2016, Bitcoin price was about $500. As of Jan. 3, 2022, a single Bitcoin’s price was over $46,000. That’s growth of about 9,200%.
2. ETHEREUM (ETH)
Ethereum is a cryptocurrency and a blockchain platform, it is a favorite of program developers because of its potential applications, like smart contracts that automatically execute functions when conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced tremendous growth. From April 2016 to January 2022, its price went from about $11 to over $3,700, increasing over 33,500%.
3. Binance Coin (BNB)
Few years back Binance was not among the biggest boys of crypto currency, but now it has consistently risen from the lower ladder and gradually heading to the top. Since it was launched in 2017 it has expanded greatly and is no longer limited to just facilitating trades on the Binance platform, now it can be used to pay for hotel bookings, flights and other forms of reservations.
It can also be traded or exchanged with other crypto currencies like Bitcoin and Ethereum on the Binance platform which has become one of the leading trading platform in terms of crypto currency.
Its price in 2017 was just $0.10; by Jan. 2022, it had risen to around $520, a gain of approximately 520,000%.
4. Tether (USDT)
Tether is a stable coin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro unlike other forms of crypto currencies and it keeps a value equal to one of those denominations. Theoretically, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are tired of the extreme volatility and unpredictable of other coins.
5. Solana (SOL)
Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that helps to ensure quick transactions and secure transactions too. SOL, Solana’s native token, powers the platform.
When it launched in 2020, SOL’s price started at $0.77. By Jan. 2022, its price was around $171, a gain of more than 22,000%.
6. Cardano (ADA)
Cardano is known for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Like Ethereum, Cardano also works to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Jan. 2022, its price was at $1.34. This is an increase of 6,600%.
7. U.S. Dollar Coin (USDC)
Like Tether, USD Coin (USDC) is a stable coin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions. Stable coins are always backed with good and strong fiat currencies ( normal currency)
8. XRP (XRP)
XRP shares same founders with Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
At the beginning of 2017, the price of XRP was $0.006. As of Jan. 2022, its price reached $0.83, equal to a rise of more than 13,700%.
9. Terra (LUNA)
Terra is a blockchain payment platform for stable coins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stable coins, such as Terra USD, are dependent on the value of physical currencies. Their counterweight, Luna, powers the the Terra platform and is used to mint more Terra stable coins.
Terra stable coins and Luna work in concert according to supply and demand: When a stable coin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stable coin. Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stable coins to mint more Luna. As adoption of the Terra platforms grows, so too does the value of Luna.
From Jan. 2021, when its price was $0.64, Luna has risen over 14,300% to $92.64 a year later.
10. Polkadot (DOT)
Cryptocurrencies may use any number of blockchains; Polkadot (and its namesake crypto) aims to merge them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and has inspired impressive growth since Polkadot’s launch in 2020.
Between September 2020 and Jan. 2022, its price grew about 925%, from $2.93 to $30.04.
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