Best Cryptocurrencies To Pay Attention To In 2022
Cryptocurrency is no longer something new and unknown to most people. Most people either have heard about crypto or even made some investments. Cryptocurrency has proved to be a rather good investment, especially if someone invests in promising crypto.
Just imagine how much Bitcoin investors have earned. Especially during the years 2009-2013. The gains of these people must be unbelievably great. No wonder that today a lot of investors try to keep an eye on up-and-coming altcoins.
An altcoin is a cryptocurrency other than Bitcoin. You can say that even Ethereum is an altcoin. Bitcoin and Ethereum are two already established cryptocurrencies. Investing in any of these two currencies might not bring huge gains.
But if you can find a less expensive and trustworthy coin to invest in, you can get great profit. This article will explore the world of promising altcoins. Check it out if you have spare money and would love to make a good investment in this or the following 2022 year.
Solana is currently the world's fifth largest cryptocurrency with a market capitalization of more than $62 billion. It's rather promising crypto that has already proven that it can greatly increase in price, bringing a lot of joy to people who have invested in SOL.
Fairly recently, in 2021, Solana showed significant growth. Having entered a trade turnover with a price less than $2, in early November 2021 it reached a record high price of $260 and is now trading at $150-$250.
SOL is Solana's blockchain digital token. The Solana blockchain, unlike Bitcoin, is based on a different protocol, the Proof of Stake protocol. This mechanism is considered better than Proof of Work, the one that Bitcoin is based on. It may be a reason why the cryptocurrency is more promising to invest in considering the criticism that PoW gets because of huge power consumption and damage to the environment.
SOL is rapidly growing in value which also reflects Solana's growth prospects. If Solana continues to gain ground, SOL owners may experience a similar feeling of joy as Bitcoin token owners did when the price on BTC skyrocketed.
Cardano has experienced a similar path to Solana, except that it didn't skyrocket as Solana. Cardano has a market capitalization of $55 billion, and at the beginning of 2021, you could have bought ADA (digital token of Cardano) for less than $0.20.
In September 2021, the price of ADA reached $3. This success pushed Cardano in ranks - it became the third largest crypto in the world. The price did drop to $1.66 later on, and now it's $1.22
The reason why most experts are currently keeping an eye on Cardano is the price drop. You would think that Cardano is experiencing a downfall, but some people argue that in 2022 the cost might go up. And those who invested in ADA when it's less than $2 may gain great profit.
If you are familiar with Dogecoin, you are aware of Shiba Inu. It’s another meme-coin that promises value to investors. The market capitalization of Shiba has almost reached $40 billion in October, and the price on the coin increased.
But almost a month later Shiba has experienced a downfall. Now the market cap is almost $18 billion and it seems to keep declining. The question is - is it the end of Shiba? Or in 2022 it will start gaining value?
Another rather promising coin that cost $3 at the beginning of 2021. It started as a coin with the price of $3 at the beginning of 2021, and then in November, it increased to $146. Now it costs around $80-$100, so it might be a good idea to invest in AVAX in hopes that the price will go up again.
No matter how promising the cryptocurrency seems to be, invest with caution. Investing in anything is always a rather risky venture. Cryptocurrency has a good and bad reputation all at once. On one hand, it can make a person rich in one day. On the other hand, it can as well make a person poor in one day.
Cryptocurrency is extremely volatile, it may be one of the riskiest investments at this point. But it doesn’t mean you have to give up on investing in crypto altogether. Just do it with caution.
To make sure you don’t go broke in one day, consider investing only in the most promising cryptocurrencies. The currency should have a rather promising blockchain. It needs to be regularly updated, and people should believe in it. Otherwise, it may get devalued.
Never invest in crypto or anything less if you don’t have a safety pillow. Make sure you don’t take a loan just to invest. Don’t sell your house or apartment. Invest in crypto if you have some spare money, a stable income, and a safety pillow. And keep in mind that you can lose your invested money. That’s why you shouldn’t spend everything you have.