Have you been thinking lately about diversifying your investment portfolio? One great way to diversify is cryptocurrency investment. Though it is not an all-comer business, those that master the art of cryptocurrency investment will attest to the fact that it is a worthwhile endeavor.
We have some good news for you if you want to invest in crypto but are unsure where to start. We can help sort this out.
There exist some cryptocurrencies that are a reliable investment, and that also have staying power. We have compiled a compilation of the 12 best cryptocurrencies for you to check out for the rest of 2022.
Let’s dig in!
Best 12 cryptocurrencies of 2022
Below is a list of cryptocurrencies with potentials to make you smile to the bank in no distant time.
You will agree that Bitcoin is the world’s most famous cryptocurrency. Besides, Bitcoin often comes to mind when there are discussions about Bitcoin. That’s because it already has a particular spot in our minds.
Being the first ever cryptocurrency to have been created, the value of Bitcoin has kept increasing by over 10 ten folds since 2009, ranking among the most valuable assets today.
Bitcoin uses cryptography, a means of security to protect its network from hackers. Your investment is secure, and no one can steal your information or money.
Bitcoin is suitable for long and medium-term investors as the market price will always be on the increase.
Launched in 2022, BOM Coin seeks to end the problems that businesses and individuals face when making online payments. BOM Coin focuses on its reward system, which gives its investors fractions of the transaction fees. So, you get coins redistributed to license holders per the volume of transactions. Besides investors, users who download the BOM App and share BOM postings on socials get rewards.
BOM is a decentralized payment system that is deployed on the Polygon network. Users can convert BOM tokens to USDT, Matic, Ethereum, and others. BOM has a viable future because of its fixed schedule. That means BOM prices will continue to rise, making it one of the best cryptocurrencies to invest in today.
If this is your first time trying your toes in the deep waters of cryptocurrency investment, Ethereum should be among your first-placed options. ETH is a decentralized platform that runs smart contracts. It is also a platform for building decentralized applications and creating new cryptocurrencies, smart contracts, and tokens.
Since its inception in 2015, Ethereum has continued to increase in demand. Of course, that’s the reason many exchange platforms list it as one of the top performing cryptocurrencies over the past years. Binance alone lists more than a hundred different tokens backed by Ethereum on their exchange platform.
High fee rates might be a primary concern for Ethereum users. Nevertheless, the proposed “Merge” will see Ethereum’s protocol metamorphose from proof-of-work to proof-of-stake. Hence, that will automatically help bring down the fees prompting people to make ETH their buy option in the coming months.
Ripple (XRP) is a blockchain network that operates a real-time gross settlement system (RTGS), currency exchange, and remittance network. Ripple is the token’s name that can be used to send money through the XRP Ledger, which serves as an open payment platform for payment providers and financial institutions.
Validators use XRP as an incentive to help secure transactions through a consensus mechanism. With XRP, any transaction can go through, not minding the minimum required amount from miners’ nodes. XRP has witnessed a steady rise in price since its creation in 2017. It has risen from $0.006 at the onset to 0.35 as of July 2022.
Created in 2011 to address the payment issues related to Bitcoin transactions, Litecoin is a global payment network free of control or regulation from any central authority.
As opposed to Bitcoin, Ether, and other cryptocurrencies, Litecoin has more speed. It helps solve bitcoin issues like slow confirmation time, high transaction fees, and increased storage requirements for transactions.
Like Litecoin, Dogecoin is an open-source, peer-to-peer cryptocurrency, which means that any central authority does not control it. It also means that anyone can contribute to its development.
With the mobile app called Blazer, users can buy Dogecoin directly with US dollars or Bitcoin.
Monero is a privacy coin, which means it uses an algorithm called CryptoNote to create private transactions. This makes it impossible for anyone to trace the source of money or collect information about who owns the coins.
Monero was created in 2014 by an anonymous developer who goes by the name “Riccardo Spagni.” It can be purchased on several exchanges, including Binance and Huobi Pro but has been most popular among traders in Asia. The price of 1 MXR hit its all-time high at $1,500 in December 2018 before falling back down below $100 now.
Solana is a decentralized coin that was created in 2021. At the onset, it appeared like Solana would not see the light of day, but by the end of 2021, Solana made it to the ten cryptocurrencies at the top. Even though Solana’s price fell from $260 in November 2021 to nearly $40 as of July 2022, it still prides itself on the best cryptocurrencies list.
Another thing to note about Solana is that it does not depend on any network to operate as it has its blockchain. Solana is in healthy competition with Ethereum and uses the proof-of-history protocol, allowing faster transactions per second and making the verification process easy.
Binance came into existence in 2017 and has since been the delight of most investors and users. BNB can be used in trading, paying fees on Binance, as a means of exchange across the globe, and even travel booking processing.
Binance was sold for $0.10 when it was launched in 2017, but as of July 2022, its price is at $267. You can exchange or trade Binance with other cryptocurrencies such as Bitcoin and Ethereum.
Tether is a type of cryptocurrency that is referred to as Stablecoin. This implies that it has support on paper currency (Fiat money) such as Euro and US Dollars. The value of Tether increases or decreases as the value of the fiat currency they are linked with increases or decreases. That being said, USDT is more reliable to invest in as it has a consistent growth pattern.
Cardano is a fully open-source, decentralized public blockchain cryptocurrency project and is entirely built and maintained by a community of volunteers. Cardano was founded in 2015 by Charles Hoskinson, CEO of IOHK, the Blockchain Research Institute, who has been involved in the development of Ethereum since its inception.
Cardano offers an innovative contract platform that features state-of-the-art cryptography research and has reached significant milestones toward being ready for mainstream adoption by developers worldwide.
It is currently one of only three cryptocurrencies with a Proof Of Stake consensus algorithm. This means it uses less electricity than proof-of-work-based coins like Bitcoin or Ethereum. The reason why this matters? Because it allows ADA holders to stake their coins without running full nodes (or even installing wallets), they don’t need powerful computers like miners do when mining other cryptocurrencies such as Bitcoin or Ethereum. They can keep their wallets open all day.
We have taken out time to bring together the best 12 cryptocurrencies of 2022. We’re confident that you’ll find the best cryptocurrency for your needs.
For some, it might be Bitcoin, a digital currency that has become increasingly popular over the last few years. Others may prefer Ethereum, which can be used in many different ways, from powering smart contracts and decentralized applications (DApps) to being used as an investment vehicle.
If you’re looking for a cryptocurrency that easily integrates into your business while you get profit per transaction, we suggest BOM Coin.
But whatever your preference, multiple crypto options available today can help make long-term, medium, or short-term investments more straightforward and profitable than ever! We indeed wish you a happy investment.