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What is the best cryptocurrency to invest in 2022? Cryptocurrencies are the newest form of digital currency that has quickly gained enormous popularity worldwide. By now, everyone must have heard about Bitcoin, Ethereum or Litecoin.
However, once you begin looking into cryptocurrencies, it won’t take long until you stumble upon hundreds of smaller coins or tokens that promise all kinds of miracles and usually end up being pre-sale ICOs with no future. This post will discuss the best cryptocurrencies that you must invest in 2022.
Let’s take a look at them.
Bitcoin is the world’s most popular cryptocurrency and was released in 2009. It is mined using a proof-of-work scheme, where users will mine blocks on their computer to solve various cryptographic puzzles. However, the bitcoin mining industry has become very competitive, with specialized ASIC chips mostly being used for mining bitcoins compared to other cryptocurrencies, which are still mined by GPU cards or CPUs only.
Bitcoin Code is the most popular trading platform you must consider when looking for an exchange platform.
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. Its token is called Ether, and its native ‘Ether’ cryptocurrency executes transactions. Like Bitcoin, Ethereum has a proof of work (POW) consensus algorithm.
The difference between Ethereum and Bitcoin lies in their transaction execution times. While Bitcoin takes 10 minutes to process a transaction block (an average), Ethereum processes a block within 12 seconds.
Ripple is the third most popular cryptocurrency in the world. Unlike many cryptocurrencies, Ripple is not designed to be anonymous or untraceable, and it’s the opposite-it’s completely traceable! Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple Labs Inc., a US-based technology company specialising in financial transaction management solutions for banks, payment providers and digital asset exchanges.
Founded in 2012 by Arthur Britto, Jed McCaleb and Chris Larsen, its mission is to enable people to break free of financial institutions like banks that act as gatekeepers to money while charging high fees.
Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. The creation and transfer of coins are based on an open-source cryptographic protocol and is not managed by any central authority.
Litecoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, script-based mining proof-of-work algorithm to target the regular computers with GPU’s most common. The Litecoin network is scheduled to produce 84 million currency units.
5. Binance Coin
Binance is one of the most popular cryptocurrency exchanges, and it has a world-record transaction speed and some of the lowest fees. If you sign up using this link, it will give both of us $10 (it’s also free). You can use BNB to pay for any fees on their exchange, including but not limited to: withdrawal fees, transaction fees, listing fees, and any future Binance related charges. Currently, 50% of trading fees are shared with those holding BNB.
The Bottom Line
The best cryptocurrency to invest in 2022 is most likely to survive and have room for growth. Those cryptocurrencies that show survival characteristics will probably increase in value over time as they mature and develop, making it a good choice to hold on to them.