Cryptocurrency is one of the biggest upsets to the financial market in recent history. It can be a great way to earn money, though its volatility can be off-putting for beginners. It is essential to be careful when trading crypto and ensure you understand how it works, which cryptos are a good bet and manage your money to avoid losses.
There are now many cryptocurrencies in the market, meaning choosing which to use can be a real challenge for anyone new to the game. Here we will explore which cryptos are worth watching in 2022.
Polkadot is one of the newest cryptocurrencies, having been launched in 2020. It uses two types of blockchain: relay and parachain. This makes Polkadot one of the most secure cryptocurrencies available, contributing to its huge popularity.
The original cryptocurrency, Bitcoin, has gone from strength to strength since its creation in 2009. Made as a reaction to the 2008 financial crisis, it first popularized the move away from centralized banks and financing. Bitcoin has seen massive fluctuations in value, so it is vital to be cautious when investing and observe the markets.
Binance limits the number of its tokens in circulation, meaning that it has experienced significant growth and huge value. It also claims one of the cheapest transaction fees among cryptocurrencies, making it hugely popular for large and small purchases alike.
One of the most popular cryptocurrencies, Solana users benefit from some of the fastest transaction speeds. It has reached all-time highs in value in 2021, making it one to watch for 2022.
Ethereum is one of the most notable cryptocurrencies that is quickly becoming a rising star. It uses self-executing contracts, which means that the contract between buyer and seller is written into the transaction code. This eliminates the need for costly third-party involvement. You can find more information about this and other cryptocurrencies from the experts at Paxful, who answer questions such as what is Ethereum?
Axie Infinity has gained popularity within the gaming community, as it allows players to gain tokens through in-game battles. This allows users control over the game’s appearance, making it a big hit among the community.
Dogecoin had its origins in memes, but its popularity is far from a joke. While it has been popularized by investments by big names like Elon Musk, Dogecoin offers a huge return on investment. 2022 could be the ideal time to invest in Dogecoin, and with more and more celebrity investment, it looks likely to continue its meteoric rise.
Another meme-inspired cryptocurrency, Shiba Inu’s name refers to a popular breed of dog. Like Dogecoin, its popularity has been largely attributed to the rise of meme culture. Like other cryptos, it has seen highs and dips in value.
There are so many cryptocurrencies to choose from; it can be a challenge to know where to start. It is essential to do your homework and ensure you understand the way crypto works and how you can use it best.
You should ensure you are cautious when investing and avoid putting too much money into any single crypto. It may also help to join an online community or seek advice from professional crypto-financial advisers who can help you find your feet in the world of cryptocurrency trading and investing.