You can see that Bitcoin (BTC) is getting all the headlines when people talk about cryptocurrency.
Bitcoin has come a long way and is the world’s largest cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
But is Bitcoin the only cryptocurrency to buy in 2022?
Cryptocurrency is a digital currency that exists online. There are thousands of cryptocurrencies other than Bitcoin available for trade in the crypto market.
You can buy any of these cryptocurrencies and start making a lot of money.
Does this mean that other cryptocurrencies also offer high returns and enhanced safety like Bitcoin?
Let us find out which cryptocurrencies are the best to buy.
What is Cryptocurrency?
As the world is moving towards online payments, the popularity of cryptocurrency is increasing with each passing day.
Cryptocurrency is a digital asset that you can buy online. There is no physical form of cryptocurrency, and it is stored online.
The transactions of cryptocurrency are recorded on a public distributed ledger called a blockchain. Cryptocurrency is based on a peer-to-peer network and is secured by cryptography.
Some of the benefits offered by cryptocurrency include:
- Freedom from any central authority like a bank or government.
- 24/7 availability.
- You can buy crypto with a traditional currency like the U.S. dollar or can exchange your existing crypto – for instance, Ethereum for Dogecoin.
- Send or receive cryptocurrency from anywhere at any time across the globe.
- Low transaction fees as compared to bank transactions.
Carl Runefelt, alias, The Moon, is a global crypto leader who has invested in more than 350 cryptocurrency startups.
He believes, “Bitcoin now is accepted in more countries than gold as legal tender, which means that Bitcoin is now more useful than gold which has been the form of money in the world for many years.”
Best Cryptocurrencies to Invest in 2022
Cryptocurrency has become the hottest ticket in the global financial market. Today, people are always exploring the opportunities to buy cryptocurrency.
Here are some of the best cryptocurrencies that you can buy:
Current Price: $28,999
Bitcoin is the first-generation cryptocurrency that runs on a blockchain, and its transactions are recorded on a public distributed ledger. The Bitcoin ledger ensures enhanced safety and profitability as compared to other cryptocurrencies.
You can see that the value of Bitcoin has increased manifolds over the years. For example, Bitcoin was valued at around $500 in 2016, it reached an all-time high value of over $68,000 in November 2021.
One Bitcoin may be out of your reach. But since its value is falling, it presents a remarkable investment opportunity.
Carl on his YouTube channel, The Moon, says, “When Bitcoin is going down, I feel I would not say happy, but I feel comfortable because it is nice to be able to pick up even more Bitcoin.”
The market cap of Bitcoin is around $548 billion.
Current Price: $1,780
Both a blockchain platform and a cryptocurrency, Ethereum is the world’s second-largest cryptocurrency after Bitcoin. Ethereum is a favorite platform for developers to execute smart contracts and non-fungible tokens (NFTs).
The value of Ethereum has tremendously increased in the last few years. For example, it was traded at around $11 in 2016, but its current value shows an increase of almost 16,000%.
The market cap of Ethereum is around $218 billion.
Current Price: $1.00
Tether is another popular cryptocurrency that you can buy in 2022. Tether is a stablecoin which means that it is supported by fiat currencies like the U.S. dollar.
The value of Tether fluctuates around these currencies. With such backing, investors may favor it over the extreme volatility of other coins.
Tether has a market cap of over $82 billion.
Binance Coin (BNB)
Current Price: $293
Binance Coin is a cryptocurrency used by Binance that is one of the world’s largest crypto exchanges. You can use BNB for payments on the platform or can book travel arrangements.
The price of BNB was just $0.10 in 2017. You can see how immensely it has grown since then.
The current market cap of Binance Coin is $50 billion.
Current Price: $0.395
XRP is a digital currency that you can buy in 2022. Formerly known as Ripple, you can use XRP to facilitate exchanges of different currencies including fiat.
XRP was traded at $0.006 in 2017. Its current price has increased by almost 6,400%.
XRP has a market cap of $19 billion.
You can see that many people across the globe have become either millionaires or billionaires by investing in cryptocurrency.
Crypto presents a remarkable opportunity to make a lot of money. If Bitcoin is out of your reach, there are some other best cryptocurrencies available that you can buy. But you should remember that cryptocurrency is the game of patience and making decisions based on short-term changes can leave you with nothing.