There are over 18,000 cryptocurrencies in existence today. However, not all of them are profitable. Many of them are scams. So, how do you decide which ones to trade and which to avoid?
To choose a cryptocurrency, you have to study the cryptocurrency markets. Go through the cryptocurrency value of each coin. Check the cryptocurrency prices over time. After all this research, you can decide which one to trade.
To spare you the trouble of going through all these details, here is a list of cryptocurrencies you can invest in or trade-in 2022.
#1 Bitcoin
Bitcoin (BTC) is the most valuable cryptocurrency and one of the top blockchain projects. It is also the first and most popular cryptocurrency globally. BTC was created in 2009 by Satoshi Nakamoto, who has remained anonymous since then. The coin has a market capitalization of $95 billion as of December 31, 2019.
The project’s purpose was to create a decentralized digital currency that can be used as an alternative to fiat money or gold reserves around the world. In other words, BTC aims to become digital cash for transactions between individuals and businesses worldwide without having any intermediaries involved in these transactions.
Bitcoin gained popularity due to its transparent nature of being free from any third-party interference. So, you can send value directly from your wallet address without going through any central authority like PayPal or Visa Card Processing Company which would take up fees before completing a transaction successfully. Thus, buyers and sellers can save time and money while making sure they are protected against fraudsters who could steal their credentials at any time.
#2 Litecoin
Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was introduced on October 7, 2011, and has a total supply of 84 million tokens. Litecoin is a fork of Bitcoin and uses the same blockchain technology. The main difference between these two coins is that Litecoin uses scrypt in its proof-of-work algorithm which allows it to be mined by regular computers that don’t require expensive ASICs for mining like Bitcoin does.
Litecoin’s popularity skyrocketed in 2017 when it reached $370 per coin. At this time there was no major competitor to Bitcoin and investors were looking for something else they could invest in besides BTC/ETH/XRP etc. So, many people thought LTC would be their next profitable investment but due to its high price at the time, there wasn’t much room for growth so many traders chose other coins instead like XRP.
#3 Dashcoin
Dashcoin is a cryptocurrency that is based on the Bitcoin protocol and its underlying code. It uses the same proof-of-work algorithm as Bitcoin, but it adds more privacy to transactions by making them untraceable. Dashcoin is also a fork of Litecoin, meaning it uses the same method of increasing its supply of coins, which allows for faster confirmation times than Bitcoin.
To achieve this level of privacy, Dashcoin uses what is called PrivateSend functionality—an extra layer within the blockchain that enables users to send tokens in a way that makes their actions anonymous while still retaining control over their funds at all times.
This mechanism works by mixing up user funds with those from other people using PrivateSend so no one can tell where an individual’s currency was spent or received from (similar to how casinos shuffle cards).
#4 Dogecoin
Dogecoin was created in 2013 as a joke currency, but it is still being used today. Dogecoin is the third-largest cryptocurrency by market cap and has a large community of users behind it. It is also one of the few cryptocurrencies that can be mined with your PC or laptop, making it an attractive choice for beginners looking to get started with crypto trading.
Dogecoin has a low transaction fee and fast confirmation time, making it ideal for merchants who need to accept payments quickly.
#5 Ripple
Ripple is a currency exchange and remittance network by Ripple. The Ripple Transaction Protocol (RTXP) works on a distributed open-source Internet protocol known as XRP (ripples).
Ripple has been adopted by banks, payment providers, and financial institutions as settlement infrastructure technology for fast and secure cross-border transactions.
#6 Zcash
Zcash is a privacy coin that is a fork of bitcoin, which is itself a fork of Zclassic. The first iteration was called Zerocoin and involved the use of zero-knowledge proofs to allow people to have private transactions. It later became ZeroCash which eventually became known as Zcash Classic when it forked again into ZK-Snarks, which then forked again into Zcash (without any changes).
So, which crypto do you want to invest in?
0 comments