With the advancement in technology, cryptocurrencies are getting popular worldwide.
More people are investing in cryptocurrencies than ever.
But are you aware of the four best types of cryptocurrencies that ensure better returns?
At present, cryptocurrency is dominated by Bitcoin (BTC) which is by far the largest cryptocurrency than others.
In addition, more than 10,000 cryptocurrencies are available in the market in which you can invest.
So, let us find out the four best cryptocurrencies available that ensure handsome returns.
Understanding Cryptocurrency
When you decide to invest in cryptocurrency, you should know it comprehensively.
Cryptocurrency can be defined as a digital currency that exists and is stored online.
It is a decentralized currency that is supported by blockchain technology.
Each transaction of cryptocurrency is recorded on a publicly distributed ledger that is protected by cryptography.
You can buy cryptocurrency through a crypto exchange platform like Coinbase, Binance, and more.
Cryptocurrency offers you multiple benefits including freedom from government or bank interference in your wealth, quick transactions, and more.
Many global leaders have come forward in the support of cryptocurrency as the best alternative to fiat and one such leader is Carl Runefelt, alias, The Moon.
According to him, “Bitcoin is the best form of money that humans have ever had available to them, and this is our opportunity to buy something that is going to be massive in the future and it’s still actually very cheap. I would say as long as Bitcoin is below USD 100,000, it is still very cheap, and I am accumulating.”
Four Best Types of Cryptocurrencies in 2022
Cryptocurrency has shown the potential of changing the financial market.
You cannot only use cryptocurrency as a medium of exchange but as an asset to invest with excellent returns.
But if you are only aware of Bitcoin when it comes to cryptocurrency, you might not be the only one out there.
Cryptocurrency presents a diverse number of digital currencies with unique characteristics that you can buy.
Listed below are the four best cryptocurrencies to buy in 2022.
Bitcoin (BTC)
Bitcoin is the first-generation cryptocurrency launched in 2009.
BTC has withstood the test of time and is now the world’s largest cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
Many businesses have already accepted Bitcoin as payment such as Stripe, Tesla, and more.
Bitcoin was traded for mere pennies in the beginning, but its current value is around USD 21,000 (as of August 2022).
Ethereum (ETH)
The world’s second-largest cryptocurrency after BTC is Ethereum (ETH).
Ethereum is based on a network that deploys smart contracts and allows developers to mine their own cryptocurrencies.
The value of ETH has increased many folds in the past few years which has helped crypto investors make a handsome profit.
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.”
The current price of Ethereum is around USD 1,646 (as of August 2022).
Binance Coin (BNB)
Another popular cryptocurrency is the Binance Coin (BNB).
Surging from about USD 38 in January 2021 to an all-time high of USD 683, BNB has made significant progress.
BNB is the native coin of the crypto exchange Binance, which is one of the world’s largest platforms to trade cryptocurrencies.
Binance Coin has shown a stable performance over the years that has played a crucial role in its popularity.
Cardano (ADA)
Cardano has faster and cheaper transactions which appeal to investors.
The functionality of the ADA network has increased with time, and it has also enabled smart contract deployment.
The launch of AdaSwap is revolutionary for the Cardano network.
You can use it to build decentralized finance apps that can drive up its price in future.
Cardano is currently traded for a mere USD 0.48 (as of August 2022) which presents a remarkable opportunity to buy it now when it is affordable.
Conclusion
Cryptocurrency investments have remarkably increased in the past few years.
But as a crypto investor, you should be aware of a crypto list that mentions the best cryptocurrencies to invest in.
The above-mentioned cryptocurrencies promise a bright future and are affordable at present. So, you should not waste this opportunity and invest in these cryptocurrencies to make handsome profits.
