20 Best Cryptocurrencies to Invest In 2022
What are the best cryptocurrencies to invest in now, next year and beyond?
You see, more people are getting to realize the potential of cryptocurrencies.
A recent survey showed that 4% of US workers quit their jobs after gaining financial freedom from crypto investing. Another 7% affirm that they know someone who has left his job after making so much money from investing in cryptocurrency.
Experts also project that cryptocurrencies will continue to be highly sort after investment options for decades to come. However, with over 2000 coins out there, many people find it difficult to decide on which to invest in.
Many more people are also very skeptical because of increasing incidence of crypto scams. A lot of individuals have been scammed into buying worthless coins.
And there are many of these!
If you want to invest in cryptocurrency in 2022 but you don’t know which to buy, here’s is a list of the 20 best cryptocurrencies in the market.
Five Reasons to Invest In Cryptocurrency
If you are yet to do so, here are five reasons you should start investing in cryptocurrencies now.
#1. Rising Profile
Cryptocurrency is rapidly moving towards becoming central in global payment system.
A growing number of enterprises now accept Bitcoin, for example for settlement of commercial transactions. And there are now Automatic Teller Machines for the withdrawal of cash from Bicoin wallet.
As the global economy becomes more digital, digital currencies will become the most preferred payment options. This will impact positively on the value of cryptocurrencies.
This amongst other reasons is driving the development of Central Bank Digital Currencies (CBDC), another form of digital currency that has government backing.
#2. Highly Liquid Asset
In investing, liquidity is a critical factor in choosing an asset class.
It describes how easy it is to buy and sell an asset. Most cryptocurrencies can easily be converted to cash. This is because at any point in time there are always people willing to sell and people who are also willing to buy.
The liquidity of cryptocurrencies has improved considerably in recent time with the existence of crypto exchanges. For instance, Ethereum records over one million average transactions per day. Ditto Ripples. And it will even get better as the world continue to adopt cryptocurrency usage.
#3. Greater Control
Cryptocurrency is decentralized and this feature makes it independent of any central authority. As a result you have absolute control over your asset without the involvement of a third party. Contrast this with your fiat money which sits in a bank account.
And with further development in block chain technology like DeFi, Cryptos are becoming even more decentralized.
#4. Wide Range of Choices
You can easily diversify investment within the crypto space. This is because there are many crypto coins to choose from.
At the moment over 2000 crypto currencies are quoted in the crypto market cap. And more are still coming as many major companies undertake to develop their individual coins.
You don’t need too much money to start investing in cryptocurrency. With little amount of money you can start and watch your money grow.
Are you already excited and want to know the best cryptocurrencies you should be buying? Read on!
20 Best Cryptocurrencies
In no particular order, here is my list of best cryptocurrencies in the market right now
#1. Bitcoin (BTC)
Bitcoin is the first successful crypto currency project in the world. And it remains the most popular and most valuable.
From less than one dollar when it was launched in 2009, Bitcoin rose to over $20,000 in 2020. It’s a vibrant coin, widely traded and accepted by all crypto exchanges. BTC is currently trading at above $65,000 with approximately 19 million total supply and market capitalization of $1.231 trillion
To a lot of people, cryptocurrency is Bitcoin and Bitcoin is cryptocurrency. And to most analysts, BTC will hit $120,000 in the coming years.
#2. Bitcoin Cash (BCH)
Bitcoin Cash is a fork of Bitcoin; another way of saying it’s spun off Bitcoin. Thus, while it shares a good number of attributes with Bitcoin, Bitcoin has features that makes it unique.
It was created in 2017 and is currently trading at a little above $600 with a market cap of $12.8 billion. Total BCH in circulation is about 18.8 million.
#3. Ethereum (ETH)
Ethereum has consistently maintained a place as the second most valuable coin after BTC. In 2020, it outperformed Bitcoin when it became one of the earliest success stories in DeFi (Decentrialized Finance) protocols.
Certainly, it’s one of the best cryptocurrencies to invest in at any time.
ETH is also moving to a Proof of Stake (poS) mechanism and when completed, the blockchain will handle far more transactions. It’ll also attract more developers and businesses.
Current price is $4,713 and market capitalization stands at $557.59 billion. Total Ether coin in circulation is 118.29 million
#4. Binance Coin (BNB)
Current price – $631. Market Cap – $105.258 billion. Supply 166.801 million.
The Binance Exchnage is the issuer of Binance Coin. It trades under the symbol BNB. Binance coin is built under the Ethereum block chain and is limited to 200 million tokens.
Binance Exchange created BNB to boost its operations and ecosystem. And it supports multiple usages such as trading, exchange and listing fees on the Binance Exchange.
Ultimately, BNB will become the primary means of exchange at the Binance Exchange.
#5. Polkadot (DOT)
Polkadot (Dot) is an enabler when it comes to cross block chain transfer of token and any other data.
It’s scalable; heterogenous and multu-chain.
Polkadot is currently trading at $49 with a market cap of $48 billion and total token supply of 987.5 million.
#6. Axie Infinity (AXS)
Axie Infinity is a block chain driven trading game. Players of the game partly own and operate it. In it’s play to win business model, players buy, breed and pit monsters to win each other. Winners win coins that can easily be exchanged to fiat currency.
Axie Infinity is currently trading at $145 with a market cap of $8.89 billion and a supply of 60.907 million tokens.
#7. Litecoin (LTC)
Litecoin is a peer-peer cryptocurrency. It was developed in 2011 from Bitcoin source codes. The technology creates and transfer digital coins via cryptographic protocol. Thus, it uses block chain technology to aid the transfer of funds between businesses and individuals.
Analysts projects a steady price increase that will see litcoin gets to over $700. Currently trading at $271, this represent an upward potential of 158% in the near term.
#8. Tether (USDT)
With a market capitalization of $73.8 billion, USDT is the 4th biggest cryptocurrency on the coin market cap. And currently trading at $0.9994 USDT has a very high upside potential, though some analysts are worried.
Because Tether is a stable coin. This means that this cryptocurrency is tied to real world assets, like the US Dollar to maintain a stable value.
Analysts are thus worried that Tether issuer may not have enough dollar reserve to sustain its stabilizing role as a stable coin.
#9. Solana (SOL)
The developers of Solana says it is the fastest block chain in the world. While this claim is arguable, what is not, is that SOL is one of the most popular cryptos available.
On Coinmarke Cap, it’s the fifth biggest with a market cap of $73.4 billion and currently trading at $242 per coin.
Solana is not just a crypto coin. It’s token can power other projects such as smart contracts, decentralized finance, NFT’s, and much more.
#10. Cardano (ADA)
Cardano is a block chain platform for a sustainable future. It allows people work better together, develop trust and provide solutions to global problems.
The block chain uses it’s associated token, ADA coin, to facilitate peer-peer transaction on the chain. The project itself is one of the success stories in decentralized finance.
ADA mining uses Proof-of-Stake (poS) which makes more friendly environmentally, cheaper and easier.
Developed in 2017, the ADA coin occupies 6th place in terms of market cap and trading at $2.10 as at the time of writing. It’s upside potentials in the coming years, according to analysts, is huge.
XRP is the token used on the Ripple network. It facilitates the transfer of value among different currencies. It is the 7th biggest cryptocurrency at the moment with a market cap of $57.84 billion and trading at $1.23.
This is inspite of the case it has had with the Securities and Exchange Commission (SEC). The SEC lawsuit saw XRP’s value go down 50%. Yet, it has remained a strong contender in the race for valuable cryptocurrencies in the market.
#12. Doge Coin (DOGE)
Launched in 2013 as a ‘joke’, Dogecoin became an instant hit and remains a hot coin since then. It is the 9th biggest crypto by Market Cap and currently trading at less than $1. Circulating at 132 million token, Dogecoin has Elon Musk, Tesla’s CEO as one of its big fans. It also has one of the largest communities in the crypto space.
Though this coin traded at 10 cent first time in 2021, it’s future is promising given the institutional interests in it.
#13. USD Coin (USDC)
USDC is another stable coin whose value is pegged to the us dollar on the basis of 1:1. It’s issued by a regulated financial institution and backed by currency held in reserve.
The coin’s mantra, Digital Money in a Digital Age is a statement about where the coin is heading.
Currently the 10th biggest cryptocurrency by market cap, USDC is one of the coins trading at less than $1. It also has a huge upside potential in terms of price movement.
#14. Shiba Inu (SHIB)
Another crypto coin that caught the fancy of Elon Musk and Vitalik Buterin; it was released in August, 2020.
Within a short period of time, SHIB is gaining momentum as a cryptocurrency to watch. Trading at about 5 cent, SHIB is the 11th biggest cryptocurrencies by market cap and is aiming to dislodge Dogecoin in ranking.
It’s development is based on ethereum algorithm and is abundantly supplied internationally. It’s ecosystem supports Shibaswap and decentralized exchange and NFT art incubator.
#15. Avalanche (AVAX)
Avalanche is an open source smart contract platform for decentralized applications. It prides itself as the fastest smart contract platform in the block chain industry. Developed based on POS, it scales to millions of validating with minimal hardware.
It powers DeFi, Digital Collectibles (arts, etc), government and institutions.
Current price $89
Market Cap – $19.6 billion
Supply – 220.286 million
Chainlink (LINK) has earned for itself, the reputation of being a major component in many block chain applications. It is a decentralized Oracle network that enables smart contracts interact with real world data and other services that exists outside the block chain.
The token used to pay for services within the Chainlink network is LINK. The token incentivizes the nodes to perform and provide accurate, reliable data.
There are about 464 million LINK tokens in circulation, trading at $33.84 with capitalization of $15.7 billion. Thus, earning Chainlink the 15th biggest cryptocurrency by market cap.
#17. Binance USD (BUSD)
Binance USD is a USD denominated stable coin. A project of a partnership between Pxos and Binance, BUSD is approved by the New York State Department of Financial Services.
Stable coin is emerging as vital in transaction settlement, payment and Decentralized Finance. The Binance USD has several several user case. With it you can hold your dollar asset digitally and transfer anywhere within minutes at low cost.
You can also trade BUSD on different exchanges, among many other user cases
#18. Polygon (MATIC)
Previously MATIC Networks, Poloygon is a framework that connects ethereum compatible block chain networks. It provides solutions to challenges in block chain networks without compromising security. Some of the challenges include high cost of gas and low speed.
The MATIC token will continue to be relevant as it has been projected to play increasingly important role in security and governance.
#19. VeChain (VET)
Vechain is a public network that derives its value from the activities of its members within the ecosystem working to solve real economic problems.
There are two tokens on the Vechain platform: VET and VTHO.
These are used to create the public block chain. The central idea of the Vechain project is to enhance efficiency, creates traceability and boosts transparency of supply chain. It also aims to give individual users control while reducing costs.
VeChain currently ranks 22 on Coinmarket cap, trading around 15 cents and has 64.3 million coins in circulation.
Binance, FTX, Mandala, Upbit and Huobi Global are some of the Exchanges where you can buy VET and THO.
#20. Uniswap (UNI)
Uniswap ranks 16 on coinmarket cap, has a circulating supply of 627 million coins and trading at $24.79.
It’s DeFi framework for exchanging cryptocurrencies. Uniswap can be described as an automated market maker (AMM)
It was launched in 2018 and within a short time has gained popularity. It’s rising profile is easily linked to the growth in DeFi and rising interest in token trading.
How to Buy Cryptocurrencies
Now that you have an idea of the best cryptocurrencies to invest in, I guess you will want to know how to buy them.
It’s not complicated.
The first step is to create an account on an Exchange and get a Wallet to hold your coins. To create an account and get the wallet you need to download the app of the Exchange or create one through their web portal.
Some of the popular Exchanges includes: Binance, Luno, Coinbase, etc. Some online brokers now offer cryptocurrencies.
After creating your wallet, you need to move real money to it and start buying into the wallet. Some Exchanges trade only certain coins while others trade a variety of coins. However, most trade bitcoin, ethereum and the other popular cryptocurrencies.
You can buy and sell on the Exchange or do it through peer-peer transaction.
The coins I listed here are some of the cryptocurrrencies many analysts identify as having far great potential for growth.
The crypto space is still developing. It’s also a very volatile asset. A wise investor will approach cryptocurrency bet with caution; investing only the money he can afford to lose while keenly watching development.
And as you can see, every cryptpo coin is a product of a block chain project. So my advice for anyone considering to invest in cryptocurrency is to take some time to learn about the underlying technology project.
Understanding the underlying project is a step to fairly predicting the future of the cryptocurrency of interest.
Buchi creates content and leads the Team at Stalwart Investment Partners; a business development and investment consultancy firm. He provides strategic advisory to help SME's, small business owners and HNI's grow profitable business and make informed investing decisions.