Cryptocurrency has so grown that it has become a hot topic even in the mouths of babies. The cryptocurrency market has witnessed some drastic, slow, and significant changes over the years. The market started with Bitcoin back in 2009, but thousands more cryptocurrencies are in circulation today.
Cryptocurrency investment has its ups and downs, but it is worth it in the end. For example, Ethereum, the second-largest crypto after Bitcoin, didn’t take very long to climb in value. As an investor, you can use the Ethereum calculator to know the worth of your assets at different points in time.
What You Should Know About Cryptocurrencies Today
Before we talk about the hot cryptocurrencies for 2022, let’s take a step back to remind ourselves what cryptocurrency is all about. A cryptocurrency is a virtual currency with value, which differs from one another. Cryptocurrencies operate on very secure technology known as the blockchain, an endearing characteristic of crypto.
Some cryptocurrencies now have credit cards, while some are still far behind. Another commendable feature of cryptocurrencies is decentralization – a central body or bodies do not control them. They are designed to be free from government control and manipulation, which is perhaps why governmental organizations are wary of adopting them.
Cryptocurrencies Worth Investing in 2022
The market has a record of over 11,000 digital currencies in circulation. For a newbie, it can be overwhelming to choose which of these is the best for investment. Based on certain indicators, some cryptocurrencies are poised to do better than others. If you are looking for profitable cryptocurrencies for investment in 2022, here’s a list you can start with.
Bitcoin is the leading cryptocurrency today; it has held this spot for a long time, and it doesn’t look ready to let it go. Bitcoin is great for both short and long-term investment, although experts advise that long-term is the way to go for marginal profit. With sufficient proofs that show Bitcoin’s volatility, it is wise to have a strategy that works.
Your strategy could be day or night trading depending on what works for you. However, you must take out time to understand the strategy, implement it, and ensure it works before relying on it long-term.
Next to Bitcoin is Ethereum; Ethereum has the second-largest market cap and is the second most popular cryptocurrency. The profit on Ethereum has improved greatly from when it first came into being and in a short while. If you want a cryptocurrency for short or long-term investment, Ethereum is a good place to start.
The Ethereum smart contract makes it one major cryptocurrency that should be included in your investment portfolio in 2022. Beyond Ethereum, there’s so much that can be done with the Ethereum smart contracts.
Polkadot is much younger than the first two cryptocurrencies we just mentioned. However, it also provides a good investment opportunity for new crypto investors. Polkadot was launched in 2020 but has experienced impressive growth. Polkadot investment is better when done long-term and with the right strategies.
Dogecoin began in 2013 and has since established itself as a leading asset in the cryptocurrency market. Dogecoin has a large loyal fan base; it is a good consideration for cryptocurrency investment. Dogecoin investment is also profitable short-term but better long-term.
Binance coin has operated on a steady, swift level of growth since its launch in 2017. Binance coin has established itself as the primary coin of the Binance chain. The future is bright for Binance coin, and we expect to see it as the years roll by. You can invest in Binance coins long or short-term, whichever pays you.
Should You Invest in Cryptocurrency in 2022?
Cryptocurrency investment has its risks, but that doesn’t rule out that it provides a steady stream of income. Cryptocurrency investment is the new gold where investments are concerned today. Their massive volatility nonetheless, cryptocurrencies are not going anywhere; there will be big, significant changes in the future. Therefore, if you are still undecided about whether or not to invest in cryptocurrency, you want to get off.
Moreover, the values of each of the cryptocurrencies increase every day. In addition, many high-ranking businesses and organizations are adopting cryptocurrencies. They won’t replace fiat currency, but they will likely relegate it to the background.
In conclusion, as a new investor, you want to understand that cryptocurrency exchange has its risks. Moreover, like every other investment, cryptocurrency investment has its ups and downs. Therefore, you don’t want to invest all your life savings; instead, you want to choose and invest wisely. Meanwhile, the list of good cryptocurrencies to invest in is in-exhaustive; these five make for a great starting point. It is your duty to review every cryptocurrency listed and consider the best option for you.