Top 9 cryptocurrencies to check out in 2022
These coins are worth adding to your portfolio
If you’re new to crypto, figuring out the right one to get can be overwhelming. To help you out, we’ve put together a list of the top 9 assets we think everyone should check out. While we can’t correctly estimate the future returns on these assets, their utility and historical performance make them good bets.
BTC is a P2P electronic payment system created by Satoshi Nakomoto. Since 2009, its price has risen from under $1 to over $40,000 as of April 2022. Bitcoin has become a valuable asset because of its relative scarcity and high market demand. In recent times, more companies such as Microstrategy and Tesla have invested in it, while some others now offer it as a payment option to their customers.
ETH was released in 2015 by Vitalik Buterin and others. It is one of the most popular and useful cryptocurrencies developers use to build new applications in the tech space, smart contracts for NFTs etc. These and its high demand have caused its price to rise from less than $1 to $4,000 within seven years.
USD Tether (USDT)
USDT is a stablecoin that’s pegged to the US dollar. This means 1 USDT should be equal to 1 USD. It is one of the largest cryptocurrencies by market capitalisation and isn’t volatile like non-stable coins. This makes it a low-risk investment and a good store of value, especially in the short term. You should also know that most people holding USDT hold it for day-to-day trading, not long-term investments.
USD Coin (USDC)
Like USD Tether, USDC is also a stablecoin pegged to the US dollar. Most people view USDC as a better store of value because it has a more transparent and regulatory-friendly approach to audits. Remember, while holding USDC (and USDT) can be a good way to hedge against inflation, you can’t hold them to build wealth because their value is pretty constant.
Sol is very useful in decentralised finance, smart contracts and decentralised apps. Transactions on its blockchain are processed quickly and at a much cheaper cost than Ethereum. It was released in 2020 and has seen a significant increase from $0.77 to $136 in April 2022.
Ripple is a payment protocol that facilitates remittances, international transfers and enables developers to build payment solutions on its open-source network. It was released in 2012 with a market cap of 100 billion. As of April 2022. Its value is about $0.82.
Avalanche is an Ethereum Virtual Machine (EVM) compatible layer one that was released in 2020 by Ava labs. Its focus is on improving the scalability and processing speed of transactions on the blockchain. Its price has gone from $4.63 in July 2020 to $97.58 in April 2022.
LTC was one of the earliest altcoins released in 2011. Its goal is to facilitate peer-to-peer transactions on the blockchain. It has a maximum supply of 84 million LTC compared to BTC’s 21 million.
Sandbox is a metaverse game built on the Ethereum blockchain. With Sandbox, players can purchase metaverse assets using sand tokens, hold them or sell them to others. In 2021, Adidas began delving into the metaverse and bought a plot of land in Sandbox. As a non-player, you can easily get Sand tokens from any crypto exchange that lists it.
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