Other

The Top 10 Cryptocurrencies That Will Make You Rich in 2022

These cryptocurrency investments will be the highlights of 2022.

A cryptocurrency (or “crypto”) is a digital currency that can be used to purchase goods and services but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies lies in trading for profit, with speculators sometimes driving prices sky high.

The Top 10 Cryptocurrencies That Will Make You Rich in 2022

The most popular cryptocurrency, bitcoin, has seen volatile price swings this year, hitting nearly $65,000 in April before losing nearly half of its value in May. By mid-October, the price had risen rapidly again, hitting an all-time high above USD 66,000 before falling back. Here are the top cryptocurrencies you can buy today.

It is absolutely no surprise that bitcoin (CRYPTO: BTC) is still the most popular cryptocurrency in the world. Its market cap currently stands at nearly $1.1 trillion. If bitcoin was a company, it would be bigger than Meta Platforms (formerly Facebook) and Tesla.

Bitcoin continues to enjoy the advantage of being the premier cryptocurrency. It is more widely accepted than any other digital currency, mainly because it has been around longer. Bitcoin is even considered by some investors to be a good hedge against inflation, as there will never be more than 21 million bitcoin tokens in circulation.

Ethereum (CRYPTO: ETH) ranks quite far behind Bitcoin on the list of the most popular cryptocurrencies. Its market capitalization hovers around $500 billion, less than half that of bitcoin. But some believe that Ethereum will be the next Bitcoin.

The main advantage of Ethereum is its usefulness in the real world. Its blockchain supports smart contracts that can be used in a wide range of applications. In particular, Ethereum is well suited for creating non-fungible tokens (NFTs). Whether or not the cryptocurrency displaces Bitcoin from the top spot in the future, Ethereum appears to be in a good position to stand the test of time.

Binance operates the largest cryptocurrency exchange in the world. It therefore makes sense that Binance Coin (CRYPTO: BNB) is the third most popular digital coin on the market.

It is the native coin of the Binance exchange and currently has a market capitalization of over $96 billion. Investors who pay transaction fees with Binance currency receive discounts.

Every quarter, Binance reduces the supply of digital coins based on trading volume. Over time, these quarterly coin “burns” will remove 100 million coins, which is half of the total supply. These measures are intended to increase the value of Binance Coin.

Tether (CRYPTO: USDT) is the fourth most popular cryptocurrency in the world. Its market capitalization is approximately US$73 billion. But among stablecoins, Tether ranks first. All stablecoins tie their value to another asset.

For Tether, this asset is the US dollar. In theory, Tether is like a “crypto-dollar” that should retain its value the same way as the physical US dollar. However, there has been some controversy over whether or not Tether has sufficient reserves to back all of its digital coins.

The US Treasury Department recently called on Congress to take action to address the risks that stablecoins such as Tether could pose to the economy.

Solana (CRYPTO: SOL) completes our list of the top five most popular cryptocurrencies. Its market capitalization is currently around 65 billion US dollars. Solana has been the biggest gainer of these top cryptocurrencies over the past year, gaining well over 10,000%.

Many investors have flocked to Solana as an alternative to Ethereum. Both blockchains support smart contracts. However, Solana offers much faster processing speeds and lower transaction fees than Ethereum.

Avalanche, like Solana, is another example of crypto that has a clear purpose, as opposed to meme currencies like Dogecoin, which have no purpose. Avalanche is one of many projects that seek to “dethrone Ethereum” as one of the most widely used blockchain platforms.

According to cryptocurrency exchange Gemini. A blockchain, which is part of the technology underlying cryptocurrencies, stores information – such as cryptocurrency transaction history – in a way that ensures that no one individual or group has control of these informations.

Ethereum is the most widely used blockchain network. A $220 million fund has just been launched to finance the development of Avalanche, which prides itself on performing much faster transactions than Ethereum (4,500 transactions per second compared to around 13 per second for Ethereum).

Do you want to quit your job and play video games to earn money? Well, technically it is possible. In the Axie Infinity game, players buy monsters and have them battle each other to earn tokens, which can then be turned into real money. During the pandemic, many Filipinos have made gambling their full-time job.

Meme currencies depend on the hype on the internet and therefore it is almost impossible to predict which ones will take off. But the Samoyedcoin meme coin caught the interest of Daniel Polotsky, founder of CoinFlip, a bitcoin vending machine company. Like the Dogecoin, it sports a cute dog face and is meant to be a lighthearted and fun Solana ambassador.

Fetch.ai:

Fetch.ai is a decentralized machine learning platform for applications like asset trading, according to CoinBase. For example, one of Fetch.ai’s apps helps users of the Uniswap cryptocurrency exchange automate their trades. FET is an Ethereum-based token that powers Fetch.ai. He gained more than 1,500% last year. According to Ahmed Shabana, managing director of Parkpine Capital, Fetch.AI uses its technology to support real-world applications.

USD Coin (USDC) is a type of cryptocurrency known as a stablecoin. You can always exchange 1 USD Coin for 1.00 USD, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold. Each USDC is backed by a dollar or an asset of equivalent fair value, which is held in accounts with financial institutions regulated by the United States.