12 Best Cryptocurrency to Invest in 2022
A new crypto-winter may be upon us, but cryptocurrencies have always managed to bounce back after every previous bear market.
Thus investors need to be alert and look for opportunities while the market is down to make well-informed investments.
The right time and the right choice can yield big returns if you invest very small amounts in cryptocurrencies, but that’s not simple as there are risks involved.
Crypto investors need to think through all their options before investing. Thus, what is the best cryptocurrency to purchase and invest in 2022? This article explores the 12 most promising cryptocurrency investments for 2022.
1. Bitcoin (BTC):
There is no doubt that Bitcoin is the most established of all cryptocurrencies. As the leader in the crypto industry, it’s easy to understand why since it has a price and a market cap that are much higher than those of any other investment option.
Many businesses have already accepted Bitcoin, which makes it a wise investment. For instance, Visa accepts bitcoin transactions. Even the larger banks are considering incorporating bitcoin trading into their offerings.
As part of its $20 billion investment in the crypto-currency bitcoin, Tesla also announced in February 2021 that the company had invested $1.5 billion. For a time, Tesla accepted bitcoin as payment for its cars, and it may do so again if mining it becomes less environmentally damaging.
2. DeFi Coin – DeFi Staking Coin That Earns up to 75% APY
DeFi Coin (DEFC) is one of the best new cryptos you can buy today. Despite the miserable downfall in other cryptocurrency options directly from the start of the year, this coin soared more than 500% in the past week on news that DeFi Swap, the company behind DeFi Coin, has launched its long-awaited crypto exchange for the first time.
Buying DeFi Coin is now easier than ever. DeFi Swap also functions as a decentralized staking platform, and it offers a rate like 30%-75% APY when your stake is in DeFi Coins. Getting the best rate from DeFi Coin requires locking it in for 360 days.
It is important to note that DeFi Coin is structured to encourage long-term investment. Each DeFi Coin sale is subject to a 10% fee designed to encourage investors to hold onto the coin even as the price increases. Therefore, DeFi Coin investors should consider holding onto the token for a while.
3. Lucky Block
Lucky Block is a play-to-earn crypto game where players have the opportunity to win a share of a $2.2 million prize pool every day. When players connect their wallets to Lucky Block, they are eligible for free entry, and any additional tickets cost $5 each.
It’s predicted that Lucky Block will become one of the next cryptos to explode after its first drawing in mid-May. Furthermore, Lucky Block will launch an NFT game that will offer its players the chance to win $10,000 every day.
Lucky Block tokens, also known as LBLOCKS, are the native cryptocurrency associated with the Lucky Block platform. The thing that makes this coin stand out because it keeps aside as a reward for token holders is 10% of the prize pool draw for each day. With Lucky Block tokens, you can earn income from an ongoing income stream – not to mention any appreciation in price the coin might see as the game grows.
4. Polygon (MATIC) – layer 2 platform for Ethereum dapp platform
As a Layer 2 platform that is increasingly important for reducing Ethereum transaction costs, Polygon is an essential part of Web3 due to its role as a Layer 2 platform.
A Polygon platform is a design that supports infrastructure development and facilitates scaling for Ethereum. Matic POS is the project’s flagship product, a modular, scalable framework (Polygon SDK) based on the Chaino SDK. This allows developers to build and connect Layer-2 infrastructures such as Plasma, Optimistic Rollups, ZkRollups, Validium, and standalone side chains such as the Chaino SDK. In February 2021, Polygon rebranded from the Matic Network to focus on supporting multiple Layer-2 networks.
5. Tikka Token (TIKKA) – Polygon-powered WAT providing top-tier wealth advisory
As the year goes on, the TIKKA token will likely continue to make waves in the crypto world. The Wealth Access Token (WAT) is a cryptocurrency built on top of the Ethereum ERC-20 network, which aims to assist investors in their financial development.
TIKKA is the brainchild of Cube Wealth, one of India’s most prominent fintech companies. Polygon’s developers built TIKKA on Polygon as they understood that Polygon would be the most optimal scaling solution. As a rising star in a thriving ecosystem, TIKKA opens the door to powerful wealth advisory services, new financial technologies, and high-quality cryptocurrencies and virtual assets in the metaverse.
6. Sandbox (SAND)
By utilizing a non-fungible token (NFT) and its utility token, Sandbox provides gamers with the opportunity to create, own, and monetise their activities. The NFT is, in essence, a certificate of ownership.
Through NFTs, digital assets can be assigned verifiable ownership, integrated into games, and traded on marketplaces. Among the tools available are Game Makers, which are designed specifically to facilitate player engagement.
7. Ethereum (ETH) – Blockchain Network with Smart Contract Functionality
As the go-to platform for decentralized applications (dApps), Ethereum needs no introduction. Ethereum’s network makes it easy for these apps to run with smart contracts. Using smart contracts, certain transactions can no longer be intermediated by a middleman, thus decentralizing the entire process.
The GAS fees associated with Ethereum have been widely criticized, but there is some good news on the horizon thanks to the upcoming Ethereum 2.0 upgrade, known as Ethereum Merge. This upgrade will see Ethereum switch to an ‘Ethereum Proof-of-Stake’ protocol by August 2022.
8. Enjin (ENJ) – gaming community platform, virtual goods marketplace
Another game-focused blockchain product, Enjin Coin, aims to be the go-to cryptocurrency for in-game purchases. With 250,000 gaming communities and 18.7 million gamers, Enjin hopes to become “the largest gaming community platform online”.
It is reported that Enjin is one of the pioneers of the NFT field, having developed a token that has been accepted as an Ethereum standard for speciality NFTs – ERC-1155.
9. Decentraland (MANA) – Metaverse virtual world
Another good cryptocurrency to invest in is Decentraland, a virtual world like The Sandbox. There are also LAND tokens here, which run on the Ethereum blockchain and are bought with the ERC-20-compatible MANA token.
Another way of assigning ownership of digital real estate is with NFTs. Similarly, you will find the most valuable pieces of LAND at the busiest locations, just as you do in the real world.
In a sign of the burgeoning interest in the metaverse and its commercial opportunities, Tokens.com, a platform specializing in NFT, invested almost $2.5 million on LAND in the virtual world.
10. Curve (CRV) – decentralized exchange
A leading player in decentralized finance (DeFi), the curve protocol has experienced rapid growth. Its strategy initially centered on using stablecoins to create more stable sources of yield on loans. The curve does not use order books for its markets but instead uses an automated market making solution based on liquidity pool trading pairs.
It is now a place to trade various pegged-value coins, including wrapped tokens that operate on blockchains other than Ethereum, where Curve runs.
11. Solana (SOL) – Highly-Scalable Blockchain Network
The Solana blockchain network is a public blockchain network that implements smart contracts and works similarly to Ethereum. Nevertheless, Solana differs from Ethereum as it uses a consensus algorithm called ‘Proof of History’, which allows thousands of transactions to be carried out simultaneously. Additionally, Solana is considered greener as it dramatically reduces the computation required for verification.
This has led to the emergence of Solana as an option for dApps developers and NFT creators looking for an alternative to Ethereum. Now, Solana hosts many of the best NFTs for sale, causing a snowball effect and attracting more creators.
12. Chainlink (LINK) – decentralised oracle network
Chainlink’s purpose is to integrate smart contracts with real-world events efficiently and securely. A smart contract is a piece of code encapsulating some business logic, for example, when to charge interest on a loan. For a smart contract to know when it needs to make a payment to the lenders, the calendar date, in this case, would have to be provided.
‘Oracles’ are essentially data feeds of various kinds that exist off-chain, so that’s where real-world information like this comes from. Chainlink is an independent network of Oracle nodes that operates over the internet, making it much more secure than previous Oracle services.
13. PancakeSwap (CAKE) – decentralised exchange
PancakeSwap is a decentralised exchange (DEX) based on the Binance Smart Chain (BSC) and uses an automated market-making system to make trades. The PancakeSwap fork is a variation on the SushiSwap DEX.
The fork is a new cryptocurrency that shares its codebase with another but has additional features. Essentially, the DEX runs on the Binance Smart Chain, making it faster and cheaper to conduct transactions.
Also Read Best crypto games
Conclusion – The best cryptocurrency to buy in May 2022
Right now, the crypto market is suffering from tight monetary conditions as risk assets suffer. Altcoins, in particular, are underperforming bitcoin in the current market.
The bitcoin price is currently struggling to stay above the $28-30k range, and there are worries about when crypto prices will bottom out. A breach of support at $28k could lead to bitcoin falling into the low $20,000s.
Although the worst of the downturn may be behind us, given the uncertainty currently prevailing in the market, dollar cost averaging might be a sensible action to smooth out the risk of price volatility.
