Bitcoin Write For Us – Cryptocurrencies are still on everyone’s lips in 2022. This year, due to the fall that these digital currencies are accumulating. But what does that mean? What is the wrong time to invest in crypto? Many people believe that falls are the best time to continue buying, but that depends on the strategy of each one.
If you have originated this far, you are most likely looking for new investment alternatives. One of the most interesting is investing in cryptocurrencies: assets that have experienced a significant revaluation since their creation. In this article, we explain what a cryptocurrency is, how it works, how to invest, which cryptocurrencies to invest in, and which are the best in 2022.
At Finest, we have also created a section where you can see information from different platforms where you can buy Bitcoin or other cryptocurrencies, compare and then decide which one best suits you.
What are cryptocurrencies
The most widespread definition of cryptocurrency is that it is a digital currency, not a physical one, that uses cryptography to secure and manage transactions and create new currencies within the blockchain network .
This explanation of a cryptocurrency includes these digital currencies’ two most important characteristics. First, there are no bills or coins like euros, dollars, or pounds. Cryptocurrencies are digital, and although they can be stored in physical devices (so-called wallets or physical purses such as hard drives or USB memories), they do not have a physical representation.
The second is that cryptography is used to create new drives. P2P technology is what, for practical purposes, makes it not dependent on any government or country. No central agency or government is in charge of creating new currencies and putting more money in the market. For example, Bitcoin uses blockchain technology to regulate the creation of new units. Also, in this case, the number of coins available is limited, which is not always the case with other cryptocurrencies.
Types of cryptocurrencies
Ethereum, Cardano, Polkadot… there are many virtual currencies beyond the famous Bitcoin. Today, the number of digital currencies is around 10,000 worldwide.
What differentiates the types of cryptocurrencies are the projects behind them. The blockchain technology used by cryptocurrencies can be used for many different purposes, from using a cryptocurrency as a means of payment, such as Bitcoin, to the smart contracts of the Ethereum network. Some currencies use entirely different formulas.
Although when it comes to investing, it is necessary to have the sufficient financial knowledge and know exactly what products we are depositing our money in and what risks we are assuming. We tell you which cryptocurrencies to invest in and what you should consider to choose them!
list of cryptocurrencies
How many cryptocurrencies are there? The data varies constantly and is not entirely accurate, but it is estimated that currently, at the beginning of 2022, there are more than 10,000. Every week, a new digital currency is created in a process called ICO, which we will summarize later.
The cryptocurrencies that, despite the falls, maintain a strong position in the top 10 (in terms of market capitalization) are:
- Shiba Inu
- USD Coin
- Polka starts
The world of virtual currencies never stops, and new proposals emerge almost daily, known as altcoins or alternative coins, about the fact that they are alternatives to bitcoins. In the previous point, we reviewed some of the most important ones, and now we will see how to invest in new cryptocurrencies.
Just like there are company IPOs, cryptocurrencies also have their come-out. They are called ICO or Initial Coin Offering; any will remind the investor in the stock market of the IPO or Initial Public Offering that includes the market launches and are called OPV in Spanish.
ICOs are used to finance projects. With the ICO, the company circulates new digital currencies in exchange for money.
Earning money with cryptocurrencies is possible, but you must know which one to bet on and how to do it. In this sense, there are different ways to invest in cryptocurrencies, from cryptocurrency trading to digital currency mining. Choosing the asset and the way of exploitation is critical, especially when they are so volatile and have so much risk.
Best cryptocurrencies to invest in 2022
What were the most profitable cryptocurrencies last year? Which has a larger market capitalization (current price x outstanding supply)? You can see the complete lists on pages like Coinmarketcap. These figures can help us get an idea of what could be some of the best cryptocurrencies of 2022, although, due to their volatility, we will update them. Only time will tell.
We must consider the presence of new technologies and markets where cryptocurrencies can take center stage and sustain the metaverse, video games, and digi,tal finance. In this regard, the Ethereum network and its competitors, such as Cardano and Solan, are proposals to keep a close eye on. Due to the theme of the Metaverse, Decentraland and its platform where you can acquire “digital land” is giving a lot of talks, just like The Sandbox. And Axie Infinity is at the head of the revolution in the world of video games.
Most Profitable Cryptocurrencies
As the stock market saying goes, “past returns do not ensure future returns.” And we have realized with the enormous fall that we have had at the beginning of this year, from which, it seems, the market is recovering. In this Finest Live, we reviewed these falls with great experts and what is expected in the future.
The evolution of a virtual currency is a good indication of its potential, but that does not mean that it is the best cryptocurrency to invest in 2022. The price of virtual currencies, with falls of more than 50% on many occasions, is a good example. Is this an indication that you must flee the sector quickly? Far from it, just that the price was too inflated.
Which cryptocurrencies are doing better in 2022? As usual, it is still too early to talk about the most profitable cryptocurrencies this year, especially with the fall we have had during these first weeks of the year. Some of the most profitable last year were:
Ethereum has outgrown the other primary cryptocurrency, Bitcoininar 2021. While Bitcoin grew 67%, Ether (ETH) marked a 502% rise, ranking as the mega coin that grew the most.
Behind the Ethereum network is the Smart Contracts project that has received several nods for its usability in different applications from companies already starting to work in decentralized finance and the metaverse world.
Located among the top positions, Cardano (ADA) went from worth a few cents to worth more than 1 euro. This represents a growth of 670%. Based on Smart Contracts but betting on greater scalability, the ADA token is a healthy competition to Ethereum and its ecosystem.
It was completely unknown at the beginning of the year and has ended up being a real protagonist, marking more than 10,000% growth last year. Terra (LUNA) focuses its project on creating decentralized finance applications on a very high-speed blockchain to generate a high correlation between stablecoins from the crypto world with fiat currencies from around the world.
However, things have gone wrong in 2022, and this crypto has sufferedfirmg corrections. During the big crashes it suffered, we spoke with Javier Molina, one of Spain’s leading cryptocurrency experts, to find out what happened:
It is another Smart Contracts project that competes closely with Ethereum by raising the possibility of handling up to 50,000 transactions per second. This would increase the speed with which transactions could be made in decentralized finance. With a brutal growth of 10,942%, Solana (SOL) achieved a record year and aimed to be a cryptocurrency to keep an eye on due to the excellent projection of its projects.
The “puppy” has done it! Dogecoin (DOGE) achieved a growth of 3,000%, driven, among others, by Elon Musk. Although its value has plummeted from the last semester of 2021, its explosion during the first half of the year was such that it managed to stay in the top 10. The “Meme Coins” or “Meme Coins” do not have large projects behind them, In many cases, they do not have any, but they are beautiful for small investors who seek to speculate in the cryptocurrency market due to their low value. So beware of these types of cryptos in 2022.
There have been other cryptocurrencies and tokens with higher growth, such as The Sandbox (SAND), which has grown more than 15,000%. This token went unnoticed during the year’s first half and barely moved, reflecting a completely flat trend. However, being a project linked to the metaverse, it began to explode in the market due to announcements, such as Facebook now Met, a, to enter this new world yet to be explored.
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