Cryptocurrencies are digital money that is not controlled by a centralized system such as a government.
Rather, it is based on blockchain technology, the most popular of which is Bitcoin. More options become available as digital currency gains traction on Wall Street. Currently, there are over 21,000 cryptocurrencies on the market.
Best Cryptocurrencies
Even though cryptocurrency can be used to make purchases, the majority of people regard it as a long-term investment. However, as evidenced by this year’s freefall in cryptocurrency prices, including stablecoins pegged to the US dollar, volatility makes cryptocurrency investment risky.
That being said, here are the top eight cryptocurrencies that may be worth investing in by 2022.
| CRYPTOCURRENCY | PRICE | MARKET CAP |
| Bitcoin | $16,895.16 | $324.18 billion |
| Ethereum | $1,270.88 | $155.53 billion |
| Binance Coin | $291.58 | $46.64 billion |
| Cardano | $0.3139 | $10.81 billion |
| Polygon | $0.9158 | $7.99 billion |
| Terra (LUNA) | $1.61 | $204.99 million |
| Avalanche | $12.90 | $3.99 billion |
| Chainlink | $7.59 | $3.86 billion |
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Tips When Choosing Crypto Investment
Although cryptocurrency can be used to make purchases, most people see it as a long-term investment. Volatility, however, makes cryptocurrency investment risky, as made evident by this year’s freefall in cryptocurrency prices, such as stablecoins pegged to the US dollar.
Here are some additional factors to consider when deciding which cryptocurrency is the best investment for you:
- The rate at which transactions are processed
- The fees associated with doing business
- The capability of using your cryptocurrency for regular purchases and bank transfers.
If you only want to invest without transacting on the network, keep in mind that cryptocurrency isn’t a get-rich-quick scheme. Instead, consider it a long-term investment.
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