5 of the Best Cryptocurrencies to Invest in 2022 Now
It is possible to become filthy rich through bitcoin investment, but it is also possible to lose all of your money. Investing in crypto assets is risky, but if done correctly and as part of a balanced portfolio, it may be profitable.
If you want direct exposure to the demand for digital cash, investing in cryptocurrencies is a wise decision. Purchasing the equities of companies with bitcoin exposure is a safer but potentially less rewarding alternative.
5 of the Best Cryptocurrencies to Invest in Now:
Here is a list of 5 best cryptocurrency to invest in now:
1. Bitcoin (BTC)
Bitcoin has existed longer than any other cryptocurrency. It is clear why Bitcoin is the market leader, as its price and market capitalization are far higher than any other crypto investment possibilities.
Numerous businesses accept bitcoin as payment, making this cryptocurrency an intelligent investment. Visa, for instance, conducts bitcoin transactions. And after a four-year break, Stripe now allows merchants to settle transactions and convert payments to bitcoin through its relationship with OpenNode. Additionally, the biggest banks have started to enable bitcoin transactions.
Tesla only briefly took bitcoin, but it may do so again if mining becomes more ecologically friendly. CNBC reported on April 8 that Blockstream and Block, previously Square, are constructing a bitcoin mine in Texas that will be wholly powered by Tesla’s solar array and Megapack battery.
Fortune said that Bitcoin also received a boost in May when the Luna Foundation Guard that it would offer $1.5 billion in loans denominated in bitcoin and terra USD to stabilize the latter. In addition, VanEck intends to develop a bitcoin exchange-traded fund. The Securities and Exchange Commission refused the company’s initial application and postponed a decision on its most recent application until October 11. No information on the outcome has been revealed as of yet.
2. Ethereum (ETH)
Ethereum is a network that enables developers to create and deploy their cryptocurrencies and smart contracts. While Ethereum is significantly less valuable than bitcoin, it is far ahead of its competitors.
Even though it was released years after other cryptocurrencies, its unique technology has allowed it to dominate the market. It is the most prominent blockchain and the second-largest cryptocurrency after bitcoin.
It stands to gain much more ground now that the “The Merge” upgrade has been fully implemented. The advancement in September switched Ethereum to a consensus based on proof-of-stake, which will restrict the number of tokens and has rendered mining obsolete.
The Merge has significantly decreased Ethereum’s energy usage. Fortune stated that ETH prices soared by about 50 percent during the last two weeks of July in anticipation of the upgrade, then plummeted in August when previously scheduled launch dates passed. By mid-September, ETH had begun heading upward again.
3. Binance Coin (BNB)
After years of relatively stable values, at least relative to other cryptocurrencies, the binance coin took off at the start of 2021, soaring from approximately $38 on January 1 to an all-time high of $683 on May.
Due to its performance throughout time, the binance coin is one of the more dependable investment possibilities. According to CoinMarketCap, it is the native token on Binance, the world’s largest cryptocurrency exchange, and Binance.US, the version that U.S. citizens must use. Nevertheless, the binance coin is a highly volatile investment despite its extensive functionality and success in Binance sub-projects.
One factor in BNB’s favor is that Binance destroys or burns currencies once per quarter. The most recent burn, which took place on October 13 and cut the currency supply by over 2 million tokens — worth roughly $600 million — had little influence on prices in the short term, but regulating the number of tickets can have a positive effect in a long time by generating scarcity. Eighty percent of BNB’s total supply of 200 million coins is in circulation.
4. Cardano (ADA)
The smaller footprint of the Cardano network is attractive to investors for multiple reasons. Cardano transactions require less energy than transactions on more extensive networks like Bitcoin. This means that transactions are speedier and less expensive.
Cardano introduced a “hard fork” last year, which improved functionality by enabling the implementation of smart contracts.
5. Polygon (MATIC)
A programming team that contributed substantially to the Ethereum blockchain network produced Polygon. According to CoinMarketCap, Polygon is developed for Ethereum scaling and infrastructure development. As a “layer two” solution, it expands Ethereum into a multi-chain system, accelerating transaction and verification times.
In a news release on July 20, Polygon said it had introduced Polygon zkEVM, “the first scaling solution similar to Ethereum that is compatible with all existing smart contracts, developer tools, and wallets.” It accomplishes this through zero-knowledge proofs, a type of encryption that reduces transaction costs and increases throughput.
Could Shiba Inu Eventually Reach $1?
Will Shiba Inu coin reach $1? Almost probably not, or at least not with the current circulation levels.
Bitcoin’s current market value, which usually ranges between $10,000 and $15,000, is dictated by the coin’s fixed scarcity of having a maximum mintage of 21,000,000 coins. At around 589 trillion tokens, SHIB’s market capitalization would need to be $589 trillion for each token to be worth $1. Given that Motley Fool recently reported that the entire world’s wealth is over $500 trillion, this is a staggering number to comprehend.
However, if Shiba Inu’s circulation suddenly declines, like it did when Vitalik Buterin burnt fifty percent of the coin’s supply, more scarcity could affect its value.
There are further encouraging indicators for investors. SHIB’s establishment on the Ethereum blockchain makes it far more accessible than other small-cap meme tokens and has opened the path for exchanges like Binance and Coinbase to add the asset with relative ease.