In 2021, cryptocurrencies had significant growth and attracted the interest of many inexperienced investors. It now appears that the world of decentralized digital money is here to stay.
But with over 19K crypto coins available for purchase and more than 500 crypto exchanges, newcomers might be left wondering which cryptocurrency is best for them to start within 2022.
In this post, we’re looking at how to pick the best cryptocurrencies to start trading or investing in.
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Besides being very secure in nature, Bitcoin is peer-to-peer (P2P), which means there is no middleman (like a bank or credit card agency) and it has a low transaction fee. It is quick and completely transparent; for example, each bitcoin transaction you perform is recorded on a public ledger that is open to everyone.
Because blockchain transactions are also irreversible, the likelihood of fraud is significantly lower and your investments are much safer. Experts predict that Bitcoin prices will hit $41,180 by the end of this year, and $53,038 by the end of 2023.
Ethereum, the second-largest cryptocurrency behind Bitcoin, has experienced significant growth since its debut in 2015. Its main selling point is that its transaction rates are faster than those of Bitcoin. Additionally, it aspires to create a global internet where anyone can create applications that are anonymous and secure and has the support of several significant corporations.
The price of Ethereum fell to $1,781 in 2022, but most analysts believe that it will rise again in the future and might even surpass $4,000 by the end of this year.
Ripple’s XRP is an appealing long-term investment because few cryptocurrencies can claim a lifespan of ten years or longer. What gives XRP its worth is its primary use case. The XRP ledger makes it feasible to carry out cross-border transactions more affordably and efficiently. You can buy XRP with a credit card or debit card from a number of crypto exchanges.
Numerous industry professionals believe that XRP might become the next big thing since significant returns from a sub-dollar asset would be much more feasible than from one that is presently trading at $10K per coin.
4. Bitcoin Cash
Some people in the cryptocurrency community refer to Bitcoin Cash as a “hard fork” of the primary cryptocurrency. When some members of the original Bitcoin network disagreed with a series of improvements to the original blockchain, a spinoff coin was created. Bitcoin Diamond and Bitcoin Gold are two other instances of hard forks in cryptocurrency. Hard forks typically don’t integrate well with the original program, necessitating the installation of upgrades. Transactions made with Bitcoin Cash are quicker, less expensive, and more dependable than those made with the parent coin.
Crypto experts predict that the price for BCH will reach $206.39 at the lowest end and $232.19 at the highest.
The Solana blockchain network has one of the quickest transaction times. With a 400 millisecond block time, it can handle 50,000 transactions per second. Founded in 2017, Solana is considered a potential Ethereum substitute that has a lot of future promise. This is due to the network’s unique proof-of-stake and proof-of-history consensus process, which allows for improved overall efficiency.
According to cryptocurrency specialists, the price of SOL will reach about $57.38 by the end of the summer of 2022. The Solana price might decrease to a minimum of $55.47 in October 2022. The peak value anticipated might be $63.02 in October 2022.
Litecoin was introduced in 2011 as a speedier and more effective Bitcoin. It has a fixed coin limit of 84 million, higher than Bitcoin’s 21 million.
Experts predict that the minimum cost of Litecoin in 2022 will be $80.43. The price of this crypto coin might go as high as $94.71 per unit, whereas the anticipated average trading price is $83.05.
The crypto market continues to change and cryptocurrency values keep fluctuating as governments consider regulating the sector. Without the right information, investments in this field can frequently be a boom or bust for novices. For this reason, the first thing to do before you start investing in crypto is to find a reputable cryptocurrency exchange where you can buy, sell, and trade cryptocurrencies like Bitcoin, Ethereum, and XRP more safely and efficiently.