Since the Bitcoin network has proven to be the most decentralized modern day financial system there have been thousands of different cryptocurrencies created which can sometimes cause confusion to the early crypto investor. To help you understand more of this great breakthrough in the world financial systems, these are the top 10 cryptocurrencies that have very good potential for investments.
Bitcoin is the most decentralized modern day financial system often called “Digital Gold” is currently offering a mean annual return of 93% and a max annual return of 302% with minimum annual return of -72%. This asset in the past 4 years has been very volatile as companies such as Tesla, MicroStrategy and Square Inc have begun buying bitcoin as part of their corporate treasury. These huge investment brought huge returns for long time holders and traders which often sell at “All Time Highs” causing new investors to panic sell and become liquidated. While some users claim that there is market price manipulation bitcoin has held steady growth through out the years – a trend which shows scarcity in the asset which has a fixed limit of 21 million coins.
Ethereum is a 2nd generation block chain know for smart contracts and NFT (non-fungeable tokens) that allow programability on a block chain. Ethereum is currently offering a mean annual return of 193% and a max annual return of 462% with minimum annual return of -82%. Some users claim that Ethereum will someday surpass Bitcoin in marketcap however the network suffers an issue of high gas fees when doing transactions. While developers are working on a solution the network’s smart contracts and NFT use make it a good investment next to bitcoin.
Cardano is one of the newer or often referred to as a “3rd generation” block chain crypto currency. Recent reports show that almost 70% of the native tokens (ADA) are held/staked by the users. This contributes to staked rewards for users. Cardano transactions are cheaper than rival tokens and its founders claim that there are numerous projects in Africa that will ultimately make it a faster and better tool for finance than its competitors. This blockchain also offers smart contracts and NFTs and claims that bridges are being built to migrate Ethereum contracts onto their network will change the game and provide fewer fees for transactions. This makes is a unique investment opportunity for new users who plan on longer term investments.
XRP, the native cryptocurrency developed by Ripple Labs is pre-mined and uses a less complicated method of mining as compared to Bitcoin. While XRP prices have surge to around 2.28 U.S. dollars in 2021 the US. SEC filed a legal complaint against Ripple in November 2020. This legal action caused the XRP price to plummet to 0.70 U.S. dollars. However many believe that Ripple will win the case and they expect huge gains for holders of the tokens when this happens. Investing a small amount of your portfolio into XRP is never too bad.
HBAR from the Hedera proof-of-stake public network, is powered by a hashgraph consensus and is also considered a 3rd generation block chain token. It has achieved the highest-grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers. Hbar is currently trading at .20 US dollars and achieved a all time high in September 2021 of .50 US dollars. There are a number of HBAR featured products for 2022 which makes it a good time to invest in the crypto currency.
Polkadot differs from other block chains because it offers parachains, short for parallel chains, which are series of connected blockchains. These blockchains run alongside one another in a way that speeds up transactions. Having multiple lanes to complete transactions leaves less chance for network overload. Additionally, Polkadot created protocols that allow its network to interact with other blockchains. At the moment DOT is trading around 16.97 US. dollars with an all time high of 51.63 US. dollars. With the advantage of these features Polkadot is an investment that cannot go wrong.
MANA token is the in-game currency of Decentraland and serves as the platform’s cryptocurrency. MANA is an ERC-20 token that lets users purchase or trade LAND and pay for goods and services in the virtual world. As the metaverse begins to evolve this token has surged as investors flock and begin to invest in digital art and digital land in these virtual worlds. MANA is currently trading at 4.78 US. dollars with an all time high of 11.92 US. dollars in late November 2021. Investing in MANA can bring you great returns in 2022.
VeChain (VET) is built on top of VeChainThor which is a public blockchain that is designed for mass adoption of blockchain technology by business users of all sizes. Built primarily for supply chain management and commercial activities it is driving good investments from various companies. VeChain has had an all time high of .09 US. dollars and is currently trading at .04 US dollars. With its relatively low price it is a bargain to invest for future gains.
Chainlink is a decentralized blockchain oracle network built on Ethereum. The network is intended to be used to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. Chainlink price today is $13.16 US dollars with an all time high of $52.2 US dollars. Chainlink has made it possible for all smart contract protocols to easily gather data from off-chain sources without trading off their security and network integrity. With many other use cases Chainlink will be a good investment for good 2022 returns.
Monero(XRM) is a decentralized cryptocurrency. It uses a public distributed ledger with privacy-enhancing technologies that obfuscate transactions to achieve anonymity. Observers cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories. Unlike GPU mining Monero can be mined using CPU power and such technology can appeal to users who can use these resources to mine the token. Currently trading at 172.51 US dollars with an all time high of 251.85 US dollars.
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