Cryptocurrencies have truly seen a massive spike in popularity in the past 2 years. While it has been around since 2009, the crypto phenomenon did not break into the mainstream until 2020. Most people are beginning to lose faith in more traditional investment establishments, and to them, cryptocurrency is a great alternative.
The popularity of crypto has led to the market being completely saturated by thousands of cryptocurrencies, some of which are better than others. In fact, the number of cryptocurrencies which are on the current market is estimated to be at 11.000, and growing by the day.
This overabundance of cryptocurrencies might seem intimidating to some. To that end, we are here to talk about the best cryptocurrencies to invest in, in 2022. Let’s take a look at the best of the best.
Bitcoin, the first and foremost cryptocurrency, is undoubtedly the dominant force in the crypto market. With a value exceeding forty thousand dollars, a price which has been estimated to increase in coming years, no other cryptocurrency comes even close to Bitcoin. In just under a year, bitcoin’s value jumped from $30.000 to over $45.000, a feat which no other crypto can boast.
Created in 2009 by anonymous designer Satoshi Nakamoto, Bitcoin has had a history spanning more than a decade, and at this point, most people identify Bitcoin with the crypto movement, and often use the words cryptocurrency and Bitcoin interchangeably.
With the popularity it has gotten in society, many businesses are beginning to accept Bitcoin transactions, video games have begun to allow for in-game purchases through Bitcoin, and quite a lot of online casinos have begun to embrace the crypto phenomenon.
Apart from Bitcoin, however, there are quite a few cryptocurrencies on the market right now, which aren’t as costly, but are quite rewarding. Let’s take a look at some of them.
With users and investors from around the world, Binance Coin boasts quite a bit of popularity in the crypto scene. The value of the crypto is currently estimated at 447 US dollars, and is expected to rise in the near future.
Binance Coin was created by the Binance crypto exchange service, in 2017. When it was first launched, the cryptocurrency saw very little traffic, and for a long time went under the radar. That all changed in 2021, however, when the crypto-boom was hitting its stride, and the price of Binance Coin suddenly surged, growing by 50%.
In 2022, Binance Coin’s popularity is higher than ever, though it has seen some turbulence in the past year.
Ethereum, the second most popular, and most highly-priced cryptocurrency on the current market, coming in at over $3000. Ethereum left its mark on the crypto world in 2014, when it launched a presale for ether, the platform’s cryptographic token, which was met with an overwhelmingly positive response. This move helped kick start the era of initial coin offering (ICO).
Another reason for Ethereum’s rise in prominence, is that they were the first blockchain to support the trade of non-fungible tokens. In 2022, NFTs have become the cool new thing. For those not in the know, a non-fungible token is a piece of digital art, which can be purchased, stored, sold or traded (much like crypto). The value of an NFT is decided based on the demand for it. In that way, it is very similar to a rare collectable.
One of the more recent cryptos on our list, ApeCoin is regarded by many to be an up-and-comer. Due to the recent release of the coin, its value is low, at only $12. However, the demand for ApeCoin is quite high, which many are expecting will increase its price.