The world of cryptocurrency has gotten off to a bumpy start in 2022. However, many veteran crypto investors would not be discouraged. In fact, many of these investors will be emboldened to get some great cryptocurrencies are depressed prices. So which cryptocurrencies are worth investing in for 2022. Here’s a look at eight cryptocurrency projects to consider. To find which other crypto currencies might currently be hot, be sure to check out our Swaggy Crypto sentiment page.
1. Bitcoin (BTC)
Bitcoin should always be regarded as a top choice in the cryptocurrency market in any year. This is because Bitcoin remains the most well know and most trusted cryptocurrency in the world.
One of the big reasons to consider Bitcoin in 2022 is the fact that the #1 Cryptocurrency is setting rapid adoption around the world. In 2021, we saw El Salvador adopt Bitcoin as legal tender. It is quite possible we may see other countries follow their lead in 2022. Also, it would be surprising to see millions of new crypto users make their very first transaction with Bitcoin. It is essentially the “gateway” cryptocurrency.
2. Ethereum (ETH)
Ethereum is currently the second biggest cryptocurrency by market cap. For 2022, it may be possible that Ethereum may “flip” Bitcoin and become the #1 cryptocurrency. Why is that? Ethereum is not just a cryptocurrency but a network where millions of smart contracts are created. We have seen some explosive growth in Ethereum users in the past 12 months with the growth of NFTs on the network. It is quite possible that this grow will continue unabated in 2022.
Are there any downsides to investing in Ethereum? Well, people continue to grip about the high gas fees associated with Ethereum. However, those high gas fees are being addressed with the
crypto’s London update. Also, Ethereum investors will want to watch out and see if Solana is a threat to overtake the #2 cryptocurrency.
3. Cardano (ADA)
Caradno is known as the “lighter” and “faster” version of Bitcoin. That’s because you can complete transaction quicker and at a lower price that the #1 crypto. Therefore, you should most definitely consider Cardano as a part of your crypto shopping list for 2022. If there happens to be any problems on the Bitcoin network, then Cardano can be seen as the first viable alternative when it comes to pure transactions.
Are there any risks to investing in Cardano? Well, the only thing you really need to look out for are the number of developers working on the network. Projects live and die on developer activity and so far Cardano is not attracting the number of developers that we are finding on Bitcoin and Ethereum.
4. Binance Coin (BNB)
Binance was one of the biggest winners in the top 10 crypto list. This is because Bianance Coin is part of the Bianance exchange. That means that anyone who want to trade on the Binance exchange will need to purchase Binance coin. As more and more people jump into the crypto world in 2022, we expect tro see more people purchase Biance coin.
Are there any reasons to think twice before purchasing a Binance coin? Well, you should be aware that Binance has been dealing with lots of legal issues in the United States. In fact Binance operates two websites – Binance.com and Binance.us. The issue comes from the yields that Binance offers on some coins which the United States won’t approve. If you are going to invest in Binance, simply be aware of regulatory issues in the United States.
5. XRP (XRP)
Ripple has cut out a niche as the “Paypal” of the cryptocurrency world. In short, Ripple makes it easy to transfer your funds from fiat to other cryptocurrencies. Because of that, XRP has a unique function that makes it a worthy inclusion as one of the top ten cryptocurrencies by
market cap. As crypto adoption increases, there should be more demand for this popular cryptocurrency.
The biggest risk to XRP comes from the U.S. Securities and Exchange Commission which recently used the management team at Ripple for selling $1 billion in unregulated securities. If you do decide to invest in XRP, just be aware that there are some regulatory hurdles that could get in the way of the cryptocurrency’s growth.
6. Solana (SOL)
Solana has been one of the biggest stories of the crypto world in 2021. That is because this little known project went from nowhere to gaining 4000% in 12 months alone. This propelled Solana into the top ten list by market cap. In fact, some crypto watchers think that Solana could ultimately become an Ethereum killer. The reason why Etheruem is so popular is due to its cheaper “gas” fees which has made it popular with NFT buyers and sellers.
The biggest risk to Solana investors is that the cryptocurrency has risen so far, so fast in the past 12 months. You may want to wait until Solana takes a breather in its price before jumping in.
7. Axie Infinity (AXE)
The metaverse has become a huge story in 2021. And we anticipate that metaverse related currencies will absolutely explode in 2022. That’s why the biggest metaverse related crypto Axie Infinity is worth taking a look at. Axie Infinity is a game where you can purchase virtual goods and enjoy an immersive experience. Axie Infinity is huge in Asia and should become a large game in the rest of the world in 2022.
The biggest risk to Axie infinity could be gamer burnout. One day you have hundreds of millions of gamers on your platform. The next minute, they run off to something else.
8. The Sandbox (SAND)
The Sandbox is another big metaverse related cryptocurrency that could see some explosive growth in 2022. With The Sandbox, you can purchase virtual land and virtual goods with the SAND cryptocurrency. This give shtis crypto a high amount of utility that should provide a strong floor on the price.
The biggest threat to SAND is the fact that gamers could get finicky and decide to move on to something else. However, these “Sandbox” type games tend to have really good retention.
Finding the Best Crypto Opportunities in 2023
As you can see, there are lots of great crypto investing opportunities available in 2022. Simply be to do your due diligence and research each project before you invest. Who knows? You may select the big crypto winner for 2023..
REFERENCE: https://www.gobankingrates.com/investing/crypto/best-cryptocurrency-to-invest-in/
