If you are looking for the best cryptocurrencies to invest in 2022, you have come to the right place.
The global market is in a slump, and cryptocurrencies have tumbled down from an all-time high of 3 Trillion dollars to just a little above 900 Billion dollars in about 6 months.
There is hope for a rebound, and the prices of crypto will rise again. The ongoing price decline is an opportunity for new investors to get in and stack up their crypto portfolio, and if you’re looking for the best cryptocurrencies to buy at this time, this is a guide to help you decide.
Disclaimer: Please note that this is not financial advice. Always do your own research and consult a financial advisor before making a decision.
To curate this list of the best cryptocurrencies to invest in, we took into consideration the background and longevity of the project, the founding team and the utility of the coins and tokens. These basic criteria are a good indicator of the long-term potential of crypto projects. From our research, here are some of the best cryptocurrencies to have and to hold.
Bitcoin is the world’s biggest and best-known cryptocurrency. Satoshi Nakomoto created it in 2009 as a form of exchange that could function independently without the need for government regulation. This makes it the oldest cryptocurrency which runs on the Bitcoin blockchain. This longevity has given it a price and market capitalization that is much higher than other crypto investment options.
At the centre of mass crypto adoption, many businesses now accept Bitcoin as a form of payment, including Microsoft, Paypal, Whole Foods, Home Depot, Starbucks, and many more. In 2021, El Salvador became the first country to adopt Bitcoin as a national currency. This makes a bitcoin investment a safe bet.
Read the Bitcoin whitepaper here.
Ether, the native coin of the Ethereum blockchain is the world’s second-largest cryptocurrency by market cap after Bitcoin. In 2021, the price of Ethereum rose to an all-time high of $4,800.
Compared to Bitcoin, they both function more or less the same. Their practical use cases have increased over the years. While Bitcoin remains a reliable store of value and medium of exchange, Ethereum has been pivotal in driving a lot of growth and innovation in the crypto industry, such as smart contracts, NFT payments and being the go-to platform for most DeFi protocols.
If you believe in the potential of decentralized blockchains, Ether is a great investment option.
The Ethereum blockchain is in its final stages of completing the transition from the Proof of Work consensus mechanism to the Proof of Stake. This could make the network faster, and more secure and reduce the exorbitant gas fees.
Read the Ethereum whitepaper here.
Binance Coin (BNB)
Binance is the world’s largest cryptocurrency exchange and BNB is the native coin of the Binance blockchain. Since its launch in 2017, BNB has grown beyond just facilitating trades on the Binance platform. Today, BNB can be used to make credit card payments, payment for travel arrangements on selected sites, process payments, buy virtual gifts, and make loans and transfers.
Investing in BNB can be a good choice for the following reasons;
- BNB can be easily traded for other currencies.
- Its in-built burn feature creates a demand and supply gap and eventually increases its value.
- Low trading fees.
BNB has proven its resilience in the altcoin market. In 2021, it hit an all-time high of $683.82. The growth potential of the coin makes it a good investment option.
Read the BNB Whitepaper here.
MATIC is the native coin of the Polygon network. It was created in 2017 as a layer 2 scaling solution to address the high transaction fees and slow fulfillment times on Ethereum.
MATIC coin is used to pay for fees on the Polygon network, staking, and governance. MATIC holders can vote for changes on the Polygon network. It is one of the world’s top 20 cryptocurrencies with over a $10B market capitalization. Despite the current price slump, MATIC holds the potential to see a price increase.
Read the MATIC whitepaper here.
Link is the native token of the Chainlink network. It is a decentralized network that allows smart contracts on blockchains like Ethereum, Polkadot and Cardano to act on verified real-world data. Because blockchain transactions are irreversible, they require accurate data to maintain their integrity. This creates the need for an oracle - a reliable source of data. For these blockchains, Chainlink is the oracle. It acts as the intermediary between the blockchains and real-world data. For example, Chainlink can be used to feed a smart contract with data like sports results, weather reports and financial market prices. The link token brims with a lot of potential. In May of 2021, it hit an all-time high price of $51.46.
Chainlink’s mission to integrate real-world data into blockchains opens a new world of possible applications of smart contracts. And as the need for data exists, Chainlink is destined for a bright future.
Read the Chainlink whitepaper here.
The APE token is the official utility token of the APE ecosystem. In 2021, the Bored Ape Yacht Club (BAYC) solidified its position as a key leader by market capitalization within the NFT space with the most popular NFT collections of the year.
The ecosystem sustained the hype and popularity by launching its native cryptocurrency - Apecoins. It is a utility token that can be used without centralized intermediaries and can be used in the following ways:
- To incentivize 3rd party developers to partake in the ecosystem
- As a gating token to provide access to the community
- To make purchases in the APE ecosystem
- As the governance token for the ApeDAO
APE is currently ranked as one of the top 35 cryptocurrencies, and earlier in the year, it reached an all-time high price of $26.70. It holds the potential to be a rewarding investment owing to its strong community and its association with Yuga Labs, one of the most influential players in the NFT space.
Decentraland (MANA) Coin
The MANA token is the native token of Decentraland. It is one of the most sought-after games in the metaverse. This makes it a good investment for anyone seeking exposure to the metaverse. It is one of the top 25 metaverse cryptocurrencies by market capitalization. With an all-time high price of $5.85, it was one of the best performing cryptocurrencies of 2021, giving its holders a return of up to 5,300%.
The entrance of popular luxury brands like Burberry, Louis Vuitton and Gucci into the Metaverse has fueled the popularity of this token.
As interest in the metaverse grows, more institutional and retail investors are lending the project their support. This makes MANA a potential good long-term investment.
Download the Decentraland Whitepaper here.
CAKE is the native token Pancakeswap, a decentralized exchange that lives in the Binance Smart Chain. Through the Pancakeswap platform, investors can trade their cryptocurrencies without the need for a 3rd party intermediary. Because it is built on the Binance Smart Chain, it offers investors and developers significantly lower transaction and development costs. The token was launched in 2020 and has reached an all-time high price of $43.96. The strong growth of the DeFi space and its growing popularity gives the CAKE token potential for long-term growth in value. Compared to the rival Uniswap token, CAKE rakes in the following advantages;
- Lower trading fees
- Staking options and
- Greater liquidity
If you want to eat your CAKE and have it, you should consider adding this token to your portfolio.
Read the Pancakeswap litepaper here.
DOT is the native token of the Polkadot ecosystem - a platform that allows data to be transferred across different blockchains and cryptocurrencies to communicate with each other. Currently, DOT is the 11th largest cryptocurrency by market cap. Since its initial coin offering price of $0.29 per token in 2017, the token rose to an all-time high price of $54.98 in 2021.
Compared to Ethereum, Polkadot is more scalable and can process more transactions on the parallel chains its support. This technical advantage has drawn support from developers and investors. For this reason and also, its high market cap, DOT can be considered a safe investment.
Download the Polkadot Whitepaper here.
To round up our list of the best cryptocurrencies to invest in 2022, there are some new crypto coins and tokens worth mentioning. These are cryptocurrencies that have performed well and we expect them to record unprecedented gains as the market recovers. They are;
Legends of Crypto (LOCG) Tokens, and Shen Coin (SHEN)
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