When the finance commission of India included a brief discussion on crypto, it almost verified the legality of the same. While, with the 30% tax, crypto prevails as a two-edged sword, investors are still in high hope of making profits. If you are the one, we bring you the TOP 10 Cryptocurrencies of 2022.
What is Cryptocurrency?
Cryptocurrency can be majorly described as a form of digital currency which works as a medium of exchange for digital transactions. The best part of such currencies is that they have an individual ledger that is stored in a computer database system that is encrypted by the algorithms of cryptography (Hashing).
The crypto era
In India, the term cryptocurrency came into consideration when Amitabh Bachchan invested a huge amount of money in Bitcoin and had a good amount of loss. From that day big investors started to do their research and found the cons and pros of this type of new techy currency. They found out that after being a very volatile currency these cryptocurrencies have some good potential for them. Though this investment has its cons, it is reliable for its fast and secure transaction process and its decentralized nature got the eyes of investors. With the introduction of cryptocurrencies in the market, they started to gain attraction on wall street as well.
When we talk about cryptocurrency we usually have the name Bitcoin. But in reality, there are more than 20000 cryptocurrencies available in the market. So picking some good cryptos is a tough job for investing and trading purposes. Bitcoin may have entered and captured the market at an early stage but there are many other currencies like Ethereum, dogecoin, etc which are capable of providing an excellent return value.
So today we are going to discuss the Top 10 cryptocurrencies in 2022.
It can be a boost for your investment and trading passion:
- Bitcoin
Yes! If we are talking about cryptocurrency we just can’t forget the bitcoin started by (an individual/ group) Satoshi Nagamoto. This is by natural means to make it to the top of the Top 10 cryptocurrencies of 2022. This currency has been on a roller coaster ride since 2009. As bitcoin entered the market at a very early stage it enjoyed its advantages.
One of the main reasons that bitcoin is listed in this list is that it is very easy to purchase. It means if you are a noob in the crypto market you can still access bitcoin.
With the support of nearly every digital wallet, Bitcoin can be exchanged so easily. Bitcoin is now considered the part of the mainstream economy as many MNCs like Microsoft, Overstock, etc have started to accept the payment in bitcoin as well
- Ethereum
Another most valuable cryptocurrency after Bitcoin is in the list of Top 10 cryptocurrencies of 2022. It was developed/conceived by programmer Vitalik Buterin. This currency started to amaze its customers in 2013 and it is still driving them crazy with its high return value. Ethereum is technically a block-chain based platform that is mainly used to fill the digital agreement and many other smart contracts as well. It is also based on the fact that it offers to transition to an operational protocol that offers incentives to process transactions to those who stake their ETH.
- Terra coin
Terra coin is a blockchain-based payment system its origin is from South Korea from a lab named Terraform labs which was founded in 2018. It is based on a view of a price-stable cryptocurrency
- Bitcoin cash
From the name, it is obvious that it is forked from Bitcoin Itself in 2016. Bitcoin cash increased the number of blocks to increase the number of transactions per second and scalability This split of bitcoin and bitcoin cash was done due to some disagreements of the board on its technological advancements. A most important advantage of bitcoin cash as compared to bitcoin is that it is much more stable than bitcoin and one can send money to any corner of the world by paying some pennies as transaction fees due to its popularity it makes a list of top 10 cryptocurrencies of 2022.
- E.O.S coin
In June 2017, an ICO was held to introduce the EOS coin. The EOS ecosystem, which is set to launch in June 2018, competes directly with Ethereum and NEO.EOS is laying the foundations for developers to create decentralized apps and cryptographic protocols, but with a significant technological upgrade.
The eos coin is considered to be much more scalable than that of Ethereum as it uses the most advanced mechanism which double checks each transaction. Unlike many cryptos, it can support c++ languages which may be good news for some code enthusiasts
- Ripple
Ripple is a very new form of cryptocurrency which mainly solves the algorithm for 1 company only named international payment transfer. The main aim of this currency was to make fast and extremely cheap transactions. The biggest catch in this currency is that more than half of the coins are under their parent firm which can break the tag of decentralized currency. As there are cons there are pros as well. Ripple can make international transfers within a couple of seconds which keeps its promise.
- THORchain
THORChain is a decentralized liquidity service that allows users to trade a variety of cryptographic assets in a secure environment. In simple terms, it acts as a link that permits data to be transferred among multiple blockchains.
It is remarkable in that it guards against temporary loss while also producing excellent yields. The new THORChain platform will launch in the 2nd period of 2022. While RUNE rose significantly at the start of the year, reaching a new all-time high of $21.29 on May 21, it has subsequently fallen.
- Dogecoin
DOGE deserves to be among the best cryptocurrencies to invest in in 2022. Originally the dogecoin was created as a joke by 2 programmers. It was named after a meme on Shiba Inu dogs. Dogecoin gained major recognition when Elon Musk invested a good sum of money in it.
- Shiba Inu
One of the most exciting and well-known currencies on this list is SHIB. Shiba Inu is a currency that has seen a lot of growth and has a lot of support all over the world. It got its face from a Japanese hunting breed of dog named Shiba Inu. Shiba Inu can also be characterized as a meme coin.
- Polkadot
A special type of cryptocurrency with a unique interoperability system that can easily join 2 or more block-chains. It has uneditable data records which makes it quite tough to hack. Polkadots is different from other currencies as it offers a para chain system which also helps in fast transactions.
Conclusion
The aforementioned are the Top 10 cryptocurrencies of 2022 that may help you advance your investments this year. The popularity of cryptos stems from their total transparency, which again is enabled by open-source, publicly verifiable technology. As the appropriate financial network is created, investors can get systemic custody solutions.
Considering the market’s instability and unpredictability, long-term investments in cryptocurrency are regarded as highly beneficial. They could provide a reliable stream of funds after retirement or a much-needed income cushion in the case of an unexpected economic slump. Crypto mining is popular among investors because it is incredibly flexible, as it is accessible 24 hours a day, 7 days a week, allowing merchants to continue to do business at any moment of the day.
edited and proofread by nikita sharma
