Within the last 10 years, we have seen the rise of emerging technologies that are changing the dynamics of everything we have ever known. Without no atom of doubt, digital currencies or crypto amongst others have been the frontier of this technological growth.
What Is Cryptocurrency?
A lot has been said about cryptocurrency these past few years. When you hear the word crypto, what comes to mind? Well, cryptocurrency or crypto, or coin is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
A cryptocurrency can also be likened to a tradable digital asset or digital form of money built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name.
Why should I Invest In Cryptocurrency?
There are currently over a thousand different cryptocurrencies in the world one can invest in. It is possible to get filthy rich by investing in cryptocurrency in 2022 — but you could also lose all of your money without adequate knowledge. Investing in crypto assets is risky but also potentially extremely profitable.
Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency. A safer but potentially less lucrative alternative is buying the stocks of companies with exposure to cryptocurrency.
Some cryptocurrencies one can invest in include.
1. Bitcoin (BTC)
If you ask anyone, what is a cryptocurrency, their most likely answer will be Bitcoin? Bitcoin is the boss in the world, sitting at the highest crypto cadre in digital currency rating. BTC is the biggest crypto asset in terms of market capitalization with over $38 and an estimate of over $38,000 – $42,000 in the first few months of 2022.
According to Bitcoin price predictions, BTC is expected to soar above $75,000 by the end of 2022. This is a green light for anyone looking to invest in cryptos for the long term.
Another important benefit of buying Bitcoin is that the leading digital currency can be fractionated. This means that you can buy just a small fraction of one Bitcoin unit. This is to say, you can buy a fragment of the big stock with a little sum.
These and more make Bitcoin the boss of the crypto and, an ideal option for those looking to invest in crypto.
2. Ethereum (ETH)
Ethereum is somewhat the second-best choice for cryptos to invest in 2022. With the tremendous hike in its price. From 2016 to early 2022, its price grew from about $10 to over $3,550, increasing more than 32,000%.
Metaverse and Web3 projects are built on Ethereum blockchain technology.
Analysts estimate that the value of Ethereum (ETH) has healthy potential for growth ahead, and investing in Ethereum is a good decision for the long-term. Therefore, it could be a good time to buy and hold Ethereum while the digital asset is currently undervalued.
If you are ready to invest in Ethereum for the end goal, despite the potential risk, Ethereum has proved to be a good investment. It has the potential to outpace any other investment in the long run.
3. Binance Coin (BNB)
Binance is one of the world’s largest cryptocurrency exchanges in terms of trading volumes and the number of users. The crypto exchange also has its native crypto asset – BNB, which allows users of its exchange to benefit from paying fewer commissions.
Binance coins can also be used for investing, payment processing, and booking travel arrangements. It can also be exchanged for other forms of cryptocurrency assets, such as Ethereum or Bitcoin.
BNB is also the digital token that supports the Binance Smart Chain, which is home to a range of undervalued crypto tokens.
Interestingly, the price of the Binance Coin has dropped in recent months like the rest of the major crypto coins. The token dropped below the $410 mark several times in 2022 already, which represents a discounted purchase price of over 45%.
Dogecoin is one the best-undervalued crypto to invest in 2022.
Dogecoin was one of the most popular crypto 2021. Dogecoin became popular and garnered huge returns after Elon Musk positively tweeted about it. May 2021 of the same year and Dogecoin hit new highs of nearly $0.76 per coin. This achieved gains of over 19,000% in a matter of five months. However, the price of Dogecoin has since taken a significant downturn, with its price hitting 52-week lows of just $0.13.
However, as a long-term investment, the Dogecoin price predictions estimate the meme coin to reach above $1 by the end of December 2022. Investing in Dogecoin now at a huge discount could make you a tremendous return given the upside potential.
ApeCoin is an ERC-20 cryptocurrency with governance and utility features based on the Ethereum blockchain. This gaming coin was launched in 2022 by the team behind Bored Ape Yacht Club; the price was about $6.40, but within hours, it started trading for $42 per token. For the records, ApeCoin is a platform that’s made up of 10,000 one-of-a-kind collectible Bored Ape non-fungible tokens (NFTs).
ApeCoin project has a huge stake in Web3 and Metaverse crypto projects. The crypto is can be used for making online purchases via Shopping.io. This allows users to access products from eBay, HomeDepot, Amazon, Walmart, and more. Payments are processed by crypto exchange Coinbase.
The interesting part is that ApeCoin users receive a 2% discount when making online purchases with this coin.
ApeCoin is one of the best cryptos to buy according to most ApeCoin price predictions.
As I conclude, it is important to note that cryptocurrency is the currency of the future; an investment in any of these coins portends huge losses and incredible mind-blowing returns if one trades with caution.