Over the past 10 years, the blockchain industry has undergone major changes, but despite this, it has long been clear to everyone that cryptocurrency is the money of the future - people may even see it when betting on 22Bet Uganda. Even a major shock, such as the COVID-19 pandemic, failed to disrupt the market. The cost of crypto coins is steadily growing, so it is important to find out which ones are profitable to invest in 2022.
If you decide to invest in cryptocurrency, it is essential not only to know the basics of blockchain technology and process transactions correctly, but also to choose the cryptocurrency that can be sold more expensive over time. When choosing a cryptocurrency, you should pay attention to several important indicators:
The degree of popularity of a cryptocurrency in the blockchain community - if this cryptocurrency is present on major exchanges and markets, and information about it is published by major publications, then most likely this is a profitable option.
Security is one of the main indicators of the reliability of a cryptocurrency. A promising network is sure to be well protected from hackers.
Ethereum is the second-largest digital currency in the world by capitalization - at the moment there are more than 118,004,597.12 coins in circulation. The creator of the project was Canadian Vitalik Buterin. The Ethereum Foundation brings together the best programmers and cryptographers. This blockchain platform is used by more than 2000 decentralized applications. According to many experts, the impact on the blockchain world of this company is even higher than Bitcoin.
The popularity and prospects of Ethereum are due to the fact that it is the first blockchain that uses decentralized ledger technology not only as electronic money, but also in almost any real industry. Ethereum has enabled the creation of smart contracts, decentralized applications, tokenized assets, and decentralized finance (DeFi) systems. The versatility and reliability of this platform allows this currency to remain number one in the world at the moment.
In second place is the Ripple (XRP) cryptocurrency, which has an incredibly high transaction processing speed. This blockchain cooperates with the largest banks and financial institutions in the world. According to expert estimates, a twenty-fold rise in the rate is expected in 2022 (the current price is $1.14).
Another indicator of the prospects of this project is cooperation with Apple. The developers of the Apple Pay mobile payment system plan to use Ripple’s Interledger technology in the future. In addition, the Ripple project is also actively collaborating with governments of different countries that are considering the possibility of creating state-owned cryptocurrencies.
In 2021, a cooperation agreement was signed with Qatar - the company plans to jointly develop a CBDC on the XRP Ledger blockchain. In addition, Ripple also became one of the co-founders of the Digital Pound Foundation, a foundation that supports the development of a digital currency for the UK.
The Cardano blockchain project was created as an alternative to the well-known Ethereum. The company has a high throughput and supports smart contracts, and is also very promising for use in various sectors of the economy. The developers of the project used a reliable, secure programming language, Haskell. Cardano is called a new generation cryptocurrency because its goal is to expand the scope of digital currency in the global world of finance. The Cardano (ADA) cryptocurrency network is built on the Proof-of-Stake Ouroboros provable cryptographic strength protocol.
The capitalization of the ADA coin takes 4th place in the Coinmarketcap rating and is rapidly approaching Ethereum in terms of capitalization. Interestingly, one of the co-founders of Ethereum, Charles Hawkinson, became the project leader.
Binance Coin (BNB)
Another promising coin is Binance Coin (BNB). This coin is used for exchange trading (IEO) on the Binance Launchpad site, and is also suitable for paying trading fees.
Binance Coin can be used to pay fees for deploying smart contracts on Binance Smart Chain, as well as for cross-chain transactions and staking on network validators. This coin is also promising because it has the support of large companies. For example, the largest South Korean cryptocurrency exchange Bithumb Global launched the BNB/USDT trading pair, which increased the value of the coin several times.
Despite all the above tips, it is important to understand that the cryptocurrency market is always a risky investment, so no one can give exact guarantees. That is why it is important to assess possible risks in advance and correctly allocate your finances.