Today, investments do not remain as traditional as they used to be.
Unknown to many in the beginning, cryptocurrency has come a long way and overcome many challenges. Bitcoin (BTC) is now the world’s largest cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
Crypto experts believe that over 10,000 cryptocurrencies are circulating in the crypto market which can make it difficult for you to decide the right type of crypto you want to add to your profile.
Let us find out which cryptocurrencies you should buy in 2022 to make handsome money.
What is Cryptocurrency?
The first thing you must do as an investor is gain a comprehensive understanding of the asset. Because cryptocurrencies are a relatively new type of money that needs to be studied, this process is even more important when dealing with them.
Cryptocurrency can be defined as a digital or virtual currency that exists on blockchain technology. For the maximum safety of its customers, blockchain is protected by cryptography which consists of complex mathematical problems that are hard to break.
Cryptocurrencies can also be viewed as a peer-to-peer payment system that is unaffected by the actions of any third parties, such as banks or governments. Because cryptocurrencies are uncontrolled, free-floating currencies, no one can meddle with your digital riches.
You can buy cryptocurrency through a crypto exchange platform. In addition there are multiple ways to enter the crypto business such as buying crypto shares or becoming part of crypto holdings.
To store your crypto wealth, you get a crypto wallet that is online on the crypto exchange or you can store your cryptocurrency in an offline wallet.
Cryptocurrency By Runefelt
Carl Runefelt, alias, The Moon, is a global crypto leader who has invested in more than 350 crypto startups.
He says, “Obviously, gold is also extremely safe. However, given that Bitcoin is online, I would argue that it is safer because it cannot be easily stolen or hacked. Because it is so simple for someone to just break in and steal gold, keeping it is actually a little bit unsafe. Since Bitcoin is more difficult, I believe it will hold up well in uncertain times.
Best Cryptocurrencies to Buy
Cryptocurrency has become extremely popular in the past few years and many investors are investing in it.
But the available large number of cryptocurrencies can be challenging for you.
Here are some of the best cryptocurrencies you can buy this year.
Bitcoin, the most popular cryptocurrency in the market, is the first-generation digital currency with the largest market cap. The value of BTC has increased manifold over the years, thanks to its positive adoption and profitability.
Bitcoin has been the trendsetter in the crypto market, inspiring other currencies to grow and follow its path.
The current price of Bitcoin is $16,458 (as of November 2022).
The first alternative to Bitcoin that you can buy this year is Ethereum or ETH.
Carl, on his YouTube channel, The Moon, says, “I had gotten some nice profits from my Ethereum holdings for a long time. I have been holding Ethereum for multiple years.”
Smart contracts and other decentralised applications are popular on the decentralised software platform Ethereum. Launched in 2015, ETH is the second-largest cryptocurrency after Bitcoin.
You can buy Ethereum at $1,185 (as of November 2022).
The adaptability of cryptocurrencies offers investors incredible potential. Stablecoins are cryptocurrencies whose values are pegged to fiat or conventional currencies in order to increase security.
Tether is a stablecoin and it is backed by fiat currencies like the U.S. dollars and the Euro.
This makes Tether a popular cryptocurrency among investors all across the world
The current value of Tether is $1.
The crypto market has grown immensely, and investors are not leaving any opportunity to invest in cryptocurrency.
The availability of thousands of cryptocurrencies allows you to become part of the crypto business quite easily.
You can buy any of the above-mentioned cryptocurrencies this year to start your crypto profile comprehensively.
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