The cryptocurrency market is still in its infancy stage and it is difficult to predict which coins will be the best in 2022. However, there are some coins that have shown potential and have the potential of being a good investment for 2022.
There are many factors that can affect the price of cryptocurrencies. These include but are not limited to: technological advances, changes in legislation, geopolitical events, natural disasters and more.
Investing in cryptocurrencies is a risky move because they are still relatively new and volatile assets. With that said, it can also be lucrative if you make the right choice as prices can fluctuate wildly over a short period of time.
The Top 5 Cryptocurrencies To Keep Your Eyes
- Binance Coin (BNB)
- Polkadot (DOT)
- XRP (XRP)
How to Invest in Cryptocurrency
A cryptocurrency is a digital form of currency that is used as an alternative to traditional currencies. It is not backed by any government and has a decentralized system that can be accessed by anyone.
The process for investing in cryptocurrency varies depending on the type of cryptocurrency you are interested in.
For example, if you want to invest in Bitcoin, you need to buy it from an exchange or trade it with someone who already owns Bitcoin.
Also Read: How to start bitcoin trading in India
Which Is The Best Time To Invest In Bitcoin?
One of the most important questions that people ask is “when is the best time to invest in bitcoin?” Well, there are many factors that can affect when is the best time to invest in bitcoin.
The first factor is how much risk you are willing to take. If you are not too risk-averse, investing in bitcoin might be a good idea for you.
The second factor is whether or not you believe in the future of bitcoin as a currency and as an investment opportunity.
The third factor is what your goals are with investing in bitcoin. If your goal is to make money from short-term price fluctuations, then it might be better for you to wait until there’s been some volatility before investing.
The Top 5 Coins To Buy
Bitcoin is the first cryptocurrency to ever exist. It is also the most popular cryptocurrency in the world. Bitcoin has been around for over 10 years and it’s not going anywhere anytime soon.
Bitcoin is also a store of value, which means that it can be used as an investment vehicle. Bitcoin has an impressive track record of being able to rise in value during times of economic uncertainty and global instability.
Ethereum is another popular cryptocurrency that was built on top of Bitcoin’s blockchain technology. Ethereum’s main goal was to create a platform where smart contracts could be executed and run without any downtime, fraud, or interference from a third party.
Amidst the recent market dip, Ethereum is now available at a very reasonable price – and you can invest from just $10 if you sign up for eToro. Overall, Ethereum has increased by 22k% over the past 5 years.
Binance Coin (BNB)
The Binance Coin is a virtual currency that is used for several purposes. You may use it for trading on the Binance cryptocurrency exchange, which operates in many countries across the globe.
Binance Coin has grown beyond just conducting deals on Binance’s exchange platform since its inception in 2017. It is now possible to utilise it for business, payment processing, and even organising trip plans. It may also be traded or swapped for other cryptocurrencies like Ethereum or Bitcoin.
It was valued at less than 10p in 2017, but by 1 February this year, it had climbed to nearly £277, a gain of approximately 377,000%.
Also Read: 5 cryptocurrence tips for beginners
Cryptocotocurrencies are used for a number of purposes, one of which is to ensure that transactions are secure and private. But with the rise of cryptocurrencies such as Bitcoin, Ethereum and other altcoins, it can be difficult to keep track of the various blockchains. Polkadot (and its namesake crypto) aims to help by creating a cryptocurrency network that connects the various blockchains so they can communicate with one another
This integration may change how cryptocurrencies are managed and have resulted in impressive growth since Polkadot’s launch. Over this period (from September 2020 to 1 February 2022) its price grew about 565%, from £2.15 to £14.33.
XRP is a digital token that can be used to process payments. It was created by Ripple, a company that aims to provide banks with the ability to send money in any currency type to any other currency type in seconds.
In January 2017, the price of XRP was £0.004 and as of 1 February 2022, it reached 46p. This means that in 5 years, it has risen 10,000%.