Digital currencies or cryptocurrencies are different from fiat Currencies and this difference made cryptocurrencies more loved by investors. Digital currencies or cryptocurrencies are fully Decentralized which means, unlike fiat currency, there is no third authority, like banks and government to control our digital money. And, today cryptocurrencies are also being accepted as a payment method to purchase goods and to make payments. And, the popularity of cryptocurrencies is increasing with each passing day, many people are investing in cryptocurrencies to become millionaires.
But how to decide which cryptocurrency you should invest, in the year 2022?
To make you choose, let’s discuss the ten most promising cryptocurrencies for the year 2022.
In this article, we will talk about the top 10 Promising Cryptocurrencies that are dominating the Cryptocurrency industry.
The Top 10 Profitable Cryptocurrencies we will talk about in this article are
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Uniswap (UNI)
- Tron (TRX)
- Stellar (XLM)
- Cardano (ADA)
- Polkadot ( DOT)
In our opinion, Binance is the best choice among trading platforms.
What is a cryptocurrency?
A cryptocurrency is a digital currency that is based on blockchain technology. Blockchain is a chain of blocks that contains information
Let’s dive into our main topic and the very first promising cryptocurrency of 2022, we have on our bucket list is Bitcoin. It is a distributed network that is completely open to anyone, once data has been stored inside a blockchain, it becomes very difficult to change it. That means it ensures the security of transferring by different algorithms.
Without further ado, let’s get into the pic.
The very first most promising cryptocurrency we have on our bucket list is Bitcoin.
Bitcoin ( BTC)
Bitcoin, the most popular cryptocurrency which alone over 50 % dominates the entire cryptocurrency market, was launched in 2009.
Why invest in Bitcoin in 2022?
Bitcoin is the most powerful cryptocurrency, even those who have no idea what a cryptocurrency is, knows what Bitcoin is. This is funny and shows how powerful this cryptocurrency is. Tim Draper, Matthew Roszak, the Winklevoss twins are a few names of people who became billionaires by using Bitcoin. Countries like Japan and many more have legalized Bitcoin. Recently EI Salvador also approved Bitcoin as Official Currency.
In the year 2021, Only in three months, the Bitcoin Market cap was doubled from $700 billion to 1.1 trillion.
Advantages of Bitcoin
There are many reasons behind the rise and popularity of Bitcoin.
- Bitcoin’s volatility is relatively low when compared to other altcoins.
- One of the major reason for bitcoins popularity is that this cryptocurrency is widely accepted as a payment method
- Bitcoin has significant liquidity which facilitates investment.
Disadvantages of Bitcoin
Despite being the most popular and dominant cryptocurrency, Bitcoin also has few disadvantages.
- Bitcoin’s investment is more volatile than investments like Stocks and ETFs.
- Bitcoin’s transactions are irreversible.
- Despite having large transaction volumes, Bitcoin is poorly regulated.
Let’s move to our next promising cryptocurrency, Ethereum.
Ethereum ( ETH)
Ethereum is a well-known cryptocurrency after Bitcoin. It is the world’s second-largest Cryptocurrency. Ethereum was first released on white paper in 2013 then in 2014 it was brought to life by Vitalik Buterin, this is an open software where developers can create their cryptocurrencies and decentralized applications. Ethereum initiated innovative concepts such as smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFT ).
Why invest in Ethereum in 2022?
Over the past 12 months, Ethereum has experienced explosive growth, that is an increase in price by 1000 %.
Benefits of Ethereum
Ethereum is the strongest blockchain project in the crypto industry and has no shortage of Benefits. Following are the benefits of Ethereum :
- The Ethereum blockchain has more utility.
- It allows you to create your decentralized applications.
- It is a non-fungible token holder.
- It is an ICO platform.
Disadvantages of Ethereum
- It offers high fees.
- It has scalability issues.
Now, move further to our next promising cryptocurrency of 2022, Ripple XRP.
Ripple ( XRP)
Ripple XRP is one of the leading cryptocurrencies around. Ripple XRP’s main goal is to make sending money as easy as sending an email. It was designed to transfer other Currencies over the ripple network.
RippleNet uses a protocol known as RTXP to move value all around the world. The creators of RippleNet ( Ripple Labs ) aim to create the ” Internet of Value” that is, a way of money to move as quickly as information does. And because of this involvement in Ripple Labs, critics believe that XRP is not a decentralized cryptocurrency as it is run by Ripple Labs, the creators of RippleNet. Despite all these controversies, Ripple XRP has managed to attract many major players in the financial industry and has managed to remain popular.
Why invest in Ripple in 2022?
XRP currently hovers in the top 10 cryptocurrencies. Ripple is a strong project used by renowned institutions such as the National Bank of Abu Dabi, Santander, and UBS.
Now, let’s talk about the Benefits of Ripple
Ripple has several advantages
- Ripple is a cheap cryptocurrency.
- Ripple XRP is used in financial systems to make sending money as easy as sending an email.
- Over 500 employees are well established in Ripple Labs.
- Ripple XRP is a partner with many large institutions.
Ripple XRP is a cryptocurrency that is loved and criticized by many.
- Many believe that Ripple is centralized instead of Decentralized.
- Being a Centralized cryptocurrency lacks an important feature of a cryptocurrency and that sure is a drawback.
- Ripple XRP’s creators hold a large portion of XRP
- Ripple Labs controls its supply and currently, all its tokens are in circulation.
Now, let’s talk about our next one of the most promising cryptocurrency of 2022, Dogecoin.
Dogecoin ( DOGE)
Billy Markus, Oregon, and Jackson Plamer established Dogecoin in 2013 under their leadership. Dogecoin wasn’t built on the intention of a serious project, but it was the result of the trending memes of that time that is a cryptocurrency and Doge meme. However, Dogecoin’s code is based on Litecoin. But the interesting fact is that Dogecoin’s market valuation has surpassed the market valuation of Litecoin, becoming the fourth-largest Cryptocurrency in the world.
In 2021, Dogecoin started the year around $0
05 but in the mid – April it touched its all-time high of $0.1445, that is an increase of 3000 %.
Why invest in Dogecoin in 2022?
Currently, Dogecoin is experiencing strong adoption, its price is increasing quite regularly. Dogecoin has an endless coin supply, making it an inflationary coin. Therefore, It remains a risky bet. That’s why it is advised to approach this crypto with caution. Read complete Guide on Dogecoin
- Dogecoin is highly supported by renowned investors such as Elon Musk.
- Dogecoin seems unstoppable, it is getting more and more popularity with each passing day.
- Dogecoin’s mining can produce huge profits.
- Dogecoin has a promising forecast.
- Dogecoin is highly volatile, that even a single tweet can lead to a sudden rise, fall, and drop or collapse.
- Currently, it is not a means of payment
Let’s move further to the next promising cryptocurrency on our list, Litecoin.
Litecoin ( LTC)
In 2011, an ex-Google employee named Charlie Lee created Litecoin because he believed that Bitcoin code had too many flaws so an improved version of Bitcoin is needed. That’s why a hard fork was performed to create Litecoin. Still, there are many similarities between Bitcoin and Litecoin, which is why Litecoin sometimes is referred to as the silver to Bitcoin’s gold.
Litecoin’s main purpose is to become a global payment system, where people can send or receive money locally or internationally, without the involvement of any third party. Litecoin is also used to purchase goods and services, or even to make small payments.
Why invest in Litecoin in 2022?
Although In 2022, Litecoin has failed to reach its new all-time high that doesn’t mean that investing in Litecoin is not a good idea.
Litecoin is seen as an alternative to Bitcoin.
Benefits of Litecoin
- The most important feature of Litecoin is that it takes two and a half minutes to confirm a transaction, while Bitcoin takes ten minutes.
- It offers a low transaction fee.
- Litecoin is more scalable than Bitcoin.
- Bitcoin is limited to 21 million coins whereas Litecoin has a limit of 84 million.
Disadvantages of Litecoin
Being an improved version of Bitcoin, it does have some disadvantages.
- Litecoin is highly similar to Bitcoin.
- In 2017, Charlie Lee, Bitcoin’s creator sold all his LTC.
Moving further to the next promising cryptocurrency, Uniswap UNI.
Uniswap ( UNI)
Uniswap is a decentralized protocol that is based on Ethereum, launched in 2018. It is one of the most important and discussed projects of Decentralized finance. In terms of market capitalization, Uniswap is the largest decentralized exchange. Uniswap allows everyone to take part in the financial transactions of Ethereum based tokens, without getting involved with any kind of the third party.
Uniswap token UNI is ERC -20 and ERC-20 is compatible with Ethereum Network and it is built on the concept of Liquidity pool and Automated market maker.
Why invest in Uniswap UNI in 2022?
Uniswap UNI is decentralized, which means no third party can control the exchanges. Everything on Uniswap is run through smart contracts. Among all the decentralized exchanges out there Uniswap is more decentralized, and, therefore more flexible.
Therefore, Uniswap meets an important requirement of the cryptocurrency world.
Let’s move on to the Benefits of Uniswap.
- Uniswap allows you to trade against any trading pair,
- No KYC information is needed to create an account,
- UNI holders have the right to vote on how the protocol is run,
- Offers low transaction fees.
- It supports only ERC-20 tokens,
- There are quite a few changes that some Liquidity providers might list fake cryptocurrencies.
Now, let’s talk about another promising cryptocurrency, Tron TRX.
Tron ( TRX)
It is one of the most controversial cryptocurrencies due to its flamboyant marketing style. Justin Sun is its CEO and founder. This cryptocurrency was established in 2014 during its previous bull run back in 2017, it caught the eyes of investors.
Tron’s mission is to decentralize the web by building an infrastructure of smart contracts and Dapps to enable the future of the internet, or what Tron Calls Web 4.0
It can be called a next-generation social media outlet where you can create and share content with anyone, anywhere in the world. The basic unit of accounts in Tron’s blockchain is Tronix often referred to as its ticker symbol, TRX. The Tron network is made up of three layers, the central system, Dapp layer, and Storage layer.
Why invest in Tron in 2022?
Tron has enjoyed strong investor attention Since it entered the cryptocurrency market. TRX is used in several ways such as granting stakers voting rights, issuing other decentralized apps tokens on Tron. It is also used as a cryptocurrency to trade and make payments while being stored in the Tron Wallet.
As per reports, Tron’s total transaction volume in October 2020 generated was $280 million.
- This platform is better compensation for artists with a decentralized entertainment platform,
- It has a highly experienced and skilled development team including experts from Ripple.
- This network can handle 2000 transactions per seconds
Trons limitations are :
- It is Centralized, almost 50 percent of TRX are held in 10 addresses.
- Another limitation is that only 15 percent of TRX is available to investors.
Let’s move further to the next promising cryptocurrency, Stellar XLM
Stellar ( XLM)
Stellar is the blockchain network, Lumens are the blockchain’s native token and XLM is their ticker. Steller’s goal is to bridge the gap between cryptocurrencies and fiat currencies by using the two best factors that are fiat currency’s wide adoption and the Blockchain’s decentralization and speed of transactions. Stellar doesn’t want to replace fiat currencies but instead, it turns fiat currencies, stocks, or other instruments into tokens and sends them in the form of lumens.
Why invest in Lumen in 2022?
Just like Ripple, Lumen was developed for real use cases and is one of the strongest projects in the crypto industry.
- Stellar has an integrated exchange platform.
- Stellar is alternatively more accessible than Ripple.
- Stellar is adopted by IBM.
- Stellar can reach heights when institutions adopt it like Ripple.
- It has to face competition from Ripple, a well-known famous cryptocurrency.
- Stellar has got low media coverage in recent years.
Now, let’s move further and talk about the next promising cryptocurrency of 2022, Cardano ADA
Cardano ( ADA)
Cardano ADA is one of the fastest-growing platforms, it jumped from around two cents in late 2017 to nearly two and a dollar and 30 cents at the beginning of 2018.
Cardano is a blockchain and ADA is its cryptocurrency that lives on the Cardano blockchain. Cardano blockchain can be used to send and receive ADA and also hosts smart Contracts and applications just like Ethereum. But, Cardano’s smart contract platform operates much differently. Read Cardano Coin Price Prediction in 2022
Why invest in Cardano ADA in 2022?
Many investors used to trade ADA previously on the platform Binance and Since March, It has also been available on Coinbase. Now, many platforms are offering ADA, which means there is more demand for ADA.
Benefits of Cardano
- Cardano has an experienced development team.
- Cardano is more scalable than Ethereum.
- ADA is listed on Coinbase.
- Cardano supports 3rd generation blockchain.
- Cardano’s project is still under development.
- Cardano has strong competitors such as Ethereum, Binance Coin Smart Chain, Polkadot, e.t.c.
The last promising cryptocurrency in our bucket is Polkadot DOT
Polkadot ( DOT)
Polkadot was launched in 2016, created by Ethereum co-founder and creator of solidity, the programming language used by Ethereum. Polkadot is what was envisioned by Gavin Wood as the next version of Ethereum.
Why invest in Polkadot in 2021?
Polkadot has seen a sharp increase in its price since the beginning of the year. Polkadot is one of the fastest-growing cryptocurrencies and is now listed in one of the top 10 Cryptocurrencies.
Benefits of Polkadot
- The biggest advantage of Polkadot is that it can connect to different blockchains: Bitcoin, Ethereum, etc.
- It is an innovative project.
Disadvantages of Polkadot
- It is at higher risk of getting hacked
How and where to Buy these promising Cryptocurrencies?
Binance is the most popular cryptocurrency exchange platform, it offers you to enjoy trading and investing.
- Binance provides 2FA
- Binance offers more than 100 cryptocurrencies to choose from
- This platform is a little complex to use.
How to use Binance?
The first thing you need to do is to go to the Binance web page and click on “Register”.
After clicking on Register you will be redirected to the registration page. There you need to enter your email address and create a strong password.
After creating a strong password, read and agree to Binance’s Terms and use, and then click Register.
Now you have to prove that you’re not a robot by solving a puzzle.
Now, an email will be sent to you, to complete registration click on “Verify Email”. Now you are officially a Binance account holder.
Now, before moving further you must secure your account by setting up 2FA. When you log in for the very first time to your Binance account, you will be asked whether you want to set up 2 FA or skip for now. Don’t skip it.
Now that you have created your Binance account, log in to your account then tap on the trading button, and then tap “Buy”.
Binance offers two ways to buy cryptocurrencies, either by linking your debit/credit card or bank account or buy directly from other users by using P2P depending on your country.
Buy crypto with credit or debit card
Go to Binance’s homepage and click “Buy Now”, then use the drop-down menu to select the crypto you want to buy or you can search it.
Now, enter the amount of Crytpo you want to buy.
Now, you can choose the payment method of your choice. You can make your purchase either with a cash balance, a card or choose other options
Buy with fiat currency
Depending on the country, you may buy crypto with fiat currency. To do so, go to your Binance account and fund it by depositing money.
Six other methods to get your hands on these Promising cryptocurrencies of 2022.
Apart from cryptocurrency exchanges and brokers, there are six other methods to get your hands on these promising cryptocurrencies of 2022 for free or with prior investment. Let’s learn about those six methods.
1) Cryptocurrency Faucet or Faucet
It is referred to as a stream of free cryptocurrency, It is an easy way to earn coins legally for free.
How does cryptocurrency faucet work?
Faucets are more like a website or software where you can visit multiple times a day to claim your free cryptocurrency. It is called Faucet because it is kind of looks like a tap that drips cryptocurrencies a few times per day, just like a tap drips water.
Popular Crypto Currency Taps Sites
If you understand the mechanism of cryptocurrency faucets and want to try them then here are a few sites to check out
- Ethereum faucets: Ethereum Faucet, Dutchy Corp, and Fire Faucet
- Faucets for Litecoin: Moon Litecoin, Fire Faucet
- Tron Tap: Xcolander and crypto Faucet
2) Crytpo Currency Minning
Cryptocurrency mining is the process of earning cryptocurrency by validating transactions on a blockchain.
According to Statista, Around the world, everyday mining cryptocurrencies like Ethereum generates than $ 50 million in revenue. Cryptocurrency mining has always proved itself to be profitable and those companies whose sole purpose is to mine Cryptocurrency 24 hours a day, invest heavily in the creation of mining farms.
Cryptocurrency mining consumes high energy and this drawback led to the creation of a new type of blockchain network management, called staking.
All the projects often choose proof of stake over proof of work because it is easy to set up and the energy consumption is minimal. Staking is the method of securing and verifying transactions, which means you are locking up to Crytpo depending on the network. That means, you are agreeing with the blockchain network generally speaking the staker will approve and verify transactions and in return, the network provides a staking reward.
So, Staking is considered a good way to earn some passive money.
4) Getting paid in cryptocurrencies
With each passing day, more and more companies are starting to accept cryptocurrencies as a payment method and they are even paying their employees in cryptocurrency as well.
And those employees who are in remote parts of the world and those who don’t have bank account this idea of getting paid in Cryptocurrency can be an attractive alternative.
In simple words, airdrops mean free distribution of cryptocurrency. Whenever a new cryptocurrency is launched, its creators usually conduct an airdrop or distribute free cryptocurrency to encourage the use of their platform and cryptocurrency.
Sometimes receiving free cryptos may require you to complete certain tasks or already own other cryptocurrencies.
6)Become a Freelancer
To some extent becoming a crypto freelance is simpler than Crypto Faucet but the difference is in the tasks both platforms provide. In crypto faucets, tasks given are microtasks, whereas, In freelancing more demanding tasks live article writing, video creation e.t.c are given.
How much can you earn from a Promising cryptocurrency in 2022?
See, there is no exact amount to answer, as it is nearly impossible to predict what will happen because of the fact that cryptocurrencies are highly volatile. But, we already know that there are a few investors that have already become millionaires only by investing in cryptocurrencies. So, we can say that in this industry possibilities to earn are endless.
For example, if you bought 100 euros in Bitcoin in 2015 when it was priced at $ 320, then today your investment would be worth more than 15,500 euros.
Tips for choosing a Promising Crytpo Currency in 2022
Tip no. 1
Learn about the promising cryptocurrency project of 2022
If you are planning to buy a cryptocurrency then it is wise to educate yourself about the cryptocurrency you want to buy because there are high chances that you may fall to fall under the trap of scammers.
Tip no. 2
Choosing the right platform.
Make sure to register with a reliable online broker, always double-check the security of the platform, its fees, its regulations. It is wise to go through ex-users reviews before choosing any platform.
For, example, you can always choose Binance.
Tip no. 3
Analyze the project team
The team behind the cryptocurrency is one of the main things to consider before choosing any platform. And, if by any chance the team behind Crypto consists of a developer who had participated in a successful project, then it’s a win-win.
Now that you know all about the most promising cryptocurrencies of 2022, which cryptocurrency you are going to choose?