Finding the best cryptocurrencies can get tricky in the vast financial market today. There are a number of investment opportunities that are gripping this world. The old-school ones like property, land, gold, mutual funds, and even fixed deposits are still popular choices for investment for many people. However, since the world of cryptocurrencies has emerged, this has become one of the most sought-after investment opportunities for not only newcomers but also older investors. Owing to the immense potential it seems to have and the benefits the investors have seen, the number of users attracted to this sector has increased in the last couple of years.
The challenging part about cryptocurrencies and this highly volatile market is the decision about the amount of investment and which coin to invest in. This dilemma often occurs because the market is highly untapped and the trends follow no set pattern. In other words, this means that the prices of each and any crypto can see a dramatic rise and fall on a global scale and also country-wide. For example, it is not certain that the Dogecoin price in INR today would remain the same as the value yesterday or even the next day. This volatility could be one of the major reasons why the skeptics have found a base for their argument.
To make investment easier, it would be important to have an understanding of what cryptocurrencies can one invest in. Completing thorough research and pattern analysis would give an idea of what to expect vaguely which may be helpful in the growth of one’s hard-earned money. Here are a few cryptocurrencies to keep an eye on in 2022 as the experts suggest that they may become the next big thing.
- Bitcoin – Even though bitcoin is already a ‘big thing’ it may become even bigger. It is beyond imaginable but highly satisfying to think that the investors who put in their money in this lucrative crypto would see an even larger growth in the next year. One of the major reasons why bitcoin is expected to grow is because of its limited cap on the number of coins in circulation. Around 18.5 million out of 21 million coins are already out there and as the scarcity increases, the value of this coin is said to grow.
- Ripple – This crypto and blockchain network is popular among business and cross-border payments as it is highly secure. It is a money transfer network that is aimed at targeting larger financial institutions and groups. Not only is it feasible for corporations and bigger companies, even among individuals, the XRP token, and the ripple price in India is one of the most popular ones. The fast pace of transactions and cheaper transaction fees make it a suitable token for investment.
- Cardano – The network, Cardano, has certain excellent prospects as it provides a good platform for developers to build decentralized applications (dApps). Not only this, but it also has a good network to launch smart contracts. The proof-of-stake validation and expedited transaction time along with lower energy usage make it competitive to invest in.
- Ethereum – The second-most popular cryptocurrency in the market today is Ethereum. Many experts also believe that this crypto may have a much higher potential than Bitcoin. Understanding the limitations that Ethereum might pose, the creators have come up with Ethereum 2.0 which is a much faster mechanism that has lower fees. Another major benefit is the low energy consumption that Ethereum 2.0 will pose in the environment.
- Tether – The best part of this crypto is that it is a stablecoin. This property makes it a slightly safer bet than the other cryptos as it is not subject to much volatility as compared to the other coins. Since it is ‘tethered’ to fiat currencies like the US dollar, Euro, or the Indian rupee, the value will only rise and fall with regard to these currencies. For people who are lower in terms of risk tolerance, a stablecoin would be the best bet if they want to enter the crypto market. It can also be a good stepping stone for novices.
- Shiba Inu – One research article deemed Shiba Inu to be the ‘most promising cryptocurrency’ due to the memecoin status. It came into the scene in October of 2021 and the coin almost immediately exploded over 1000% in less than a month. Owing to the social media buzz on sites like Twitter, Instagram, and Reddit, this crypto saw a significant gain. The prices are only predicted to rise in 2022.
Purchasing cryptocurrencies in the coming year seems to be a lucrative opportunity owing to the unprecedented growth it has seen in the last year. The newer investors have taken a special liking towards this venture. There are a few simple steps that one can use to purchase cryptocurrencies in India. Choosing a wallet or an online exchange platform that is safe, fast, and reliable would be the first step. Checking for smaller underrated things like a lower transaction fee and exit rate would also be something newer users would like to take into consideration.
Conduct thorough research and invest in cryptocurrencies this coming year and increase your profits by a huge margin.