• Tue. Aug 2nd, 2022

Top 5 most promising cryptocurrencies in 2022

ByHazel R. Lang

Jun 28, 2022

Cryptocurrencies are generally a type of currency similar to others we have – the dollar and the euro, for example – except that they are completely digital. In other words, rather than being exchanged in person, cryptocurrency payments only exist online, specifically on the blockchain.

The name of the coin comes from the fact that it uses cryptography to confirm transactions. This means that advanced encryption is used to store and transmit cryptocurrency data between wallets. For more information, check reviews on coinlive.

Is investing in cryptocurrencies safe?

Yes, it’s secure. Cryptocurrencies are powered by the blockchain, a decentralized network. It is not controlled by intermediaries but by all its users anonymously.

Blockchain is a “book of accounts” that records, verifies and authenticates all cryptocurrency transactions through a decentralized system swap.

In addition, no intermediary institution is required to validate these transactions, thus ensuring the complete autonomy of the process.

The best cryptocurrencies to invest in right now

You’ve probably heard of Bitcoin, but know that it’s not the only promising currency on the market.
● Ethereum (ETH)
● Solana (SOL)
● Dots (DOT)
● Avalanche (AVAX)
● The sandbox (SAND)

Ethereum (ETH)

The founders created the Ethereum (ETH) network to compete directly Bitcoin (BTC), and experts believe it succeeded.

This currency has been identified as a great power in terms of expansion and appreciation, and its distinctive feature is the ability to “tokenize” physical assets.

That is, converting something from the real world into cryptocurrency.

Solana (SOL)

Touted as an “Ethereum killer” – cryptocurrencies that emerged with the purpose and potential to topple Ethereum’s leadership – Solana (SOL) increased by 11,179.5% in 2021.

With the ability to keep rates low without losing security, Solana is touted as Ethereum’s biggest killer.

Avalanche (AVAX)

Avalanche (AVAX) is a Blockchain smart contract platform that enables the development of DApps. It is a platform for the creation of smart contracts, decentralized applications and personalized and interoperable Blockchains.

The network was launched in 2020 by Ava Labs, consisting of Kevin Sekniqi, Maofan “Ted” Yin, and Emin Gün Sirer, to provide better scalability without compromising Blockchain’s decentralization and security.

Peas (DOT)

Polkadot (DOT) is another Ethereum killer with a promising prediction for 2022. The cryptocurrency was launched in 2016 by an Ethereum co-founder to increase market scalability.

It closed the year with a high of 187.40%. Today, it is ranked among the top ten cryptocurrencies in the world.

The sandbox (SAND)

Sandbox Blockchain (SAND) technology enables the creation of virtual lands that can be traded between Metaverse players. Players can customize lots with items created by other players once purchased.

This crypto asset is so promising that it is already used by big companies such as Tesla.

The benefits and risks of investing in cryptocurrencies

Cryptocurrencies are new assets with sophisticated operating logic. Therefore, many people are still trying to better understand how to work with them. Digital currencies have certain advantages over physical currencies and other means of payment. The bitcoin website lists the following for Bitcoins:

  • Freedom of payment: With Bitcoin, it is possible to send or receive any amount instantly anywhere. Low fees: Currently, payments made with digital currencies are processed with low fees or waived. A fee is charged if users want faster confirmation of operations by the system. For commerce in general, there are Bitcoin-based services in which the processing of sales and the transfer of values ​​are carried out daily and with lower costs than traditional methods such as PayPal or credit card networks.
  • Security: According to bitcoin.org website, you can make bitcoin payments without linking the user’s personal information to the transaction. “It provides strong protection against identity theft,” he says. Another advantage is that the user can protect the money with backups and encryption.
  • Transparent: All information about the supply of Bitcoin units is available on the blockchain for everyone. No one or organization can control or manipulate the digital currency protocol because it is encrypted. With this, Bitcoin’s core is recognized as trustworthy for being neutral, transparent, and predictable.

Those who bet on the digital currency market, on the other hand, should be aware of a series of details specific to this segment.

Since relatively few people know and use digital currencies – even fewer – use digital currencies, few establishments accept this form of payment, as reported by the site Bitcoin.org.

  • Volatility: Major price adjustments are not uncommon in digital currencies like Bitcoin. This is precisely because, little by little, cryptocurrencies are gaining visibility, which attracts many new users and ends up overvaluing the asset.

How to buy cryptocurrency

To buy or sell cryptocurrencies, you must first open an account with a cryptocurrency exchange, which is nothing more than a specific broker in this market.

Mercado Bitcoin, Binance, and NovaDAX are some examples of crypto exchanges.

With a cryptocurrency wallet or account, you can exchange your fiat currency for cryptocurrencies, for example.

However, we advise conducting research and selecting a secure platform with market credibility and a few years of operation.

Where to invest your cryptocurrency

There is no definitive information on the best cryptocurrency for investments.

There are only speculations and expert projections.

Since this ecosystem is relatively new and still undergoes many fluctuations, it is essential to pay attention according to the performance and history of each.

There are a few options to ensure your safety in this type of investment:
● Invest in stock exchange funds or unlisted investment funds; Use a digital wallet;
● Or use a physical cryptocurrency wallet, such as a hardware wallet.

Is it worth investing in Crypto assets in 2022?

Yes, the answer is yes. Regardless of the current economic climate, investing is a great option for those who want to increase their chances of financial success.

However, it is still preferable to surround yourself with an investment advisor for better monitoring of the portfolio and more personalized recommendations.

These professionals monitor everything in the market to recommend the best investment products for the current situation.

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