The Cryptocurrencies to Invest in for 2022
By Space Coast Daily // January 25, 2022
It seems that we are at the start of a cryptocurrency revolution. With the crypto market currently worth an estimated $3 trillion, it’s unsurprising that investors are scrambling to put their money on digital coins.
Cryptocurrency is a form of digital asset used for buying, selling, and trading on the blockchain database. Still a relatively new concept, cryptocurrency is decentralised and is yet to be declared as legal tender by governments in many of the world’s largest economies.
Crypto is also a flat currency, meaning that it is not backed by any convertible legal tender commodities – such as a country’s gold reserves, for example – which makes regulation of it somewhat challenging.
This, however, has not deterred investors from backing many of the numerous cryptocurrencies on the digital market. While the original primary cryptocurrency,
Bitcoin, has suffered falls in its shares over the last few years, newer digital coins have emerged that are looking profitable to investors. Bitcoin is certainly volatile at the moment, but other crypto assets which have been created more recently seem to be really taking off.
The blockchain market is rapidly expanding and, with it, so too are new technological developments that could provide further investment opportunities.
These are exciting times, but as cryptocurrency investment is still a new area for most people, it’s hard to know where to begin. Before you spend your hard-earned cash on crypto coins, have a look at the best cryptocurrencies to invest in for 2022.
Based on an internet dog meme, hence its nickname as ‘the meme coin’, the Dogecoin has emerged as a serious contender in the crypto market. There are more than 129 billion Dogecoins in circulation and around 10,000 Dogecoins are minted every minute. This makes Dogecoin’s circulation supply larger than Bitcoin’s. Even Elon Musk has acknowledged the rising popularity of Dogecoin – the SpaceX founder tweeted that the coin would be the currency used on the moon.
Somewhat impressive for a coin that was originally created as a joke. The Dogecoin came about when software engineers Jackson Palmer and Billy Markus decided to develop a mock payment system poking fun at the wild speculation of cryptocurrency at the time.
Dogecoin utilizes the same technology as Bitcoin to verify transactions but it processes these much faster and at a lower cost than Bitcoin. This is perhaps what makes Dogecoin seem attractive to investors.
Benefiting from a low barrier to entry and low bond requirements for validators, it’s easy to see why Kusama is becoming noticed by investors starting out in the cryptocurrency market. The Kusama currency, or KSM, has a multitude of benefits for investors. But what is Kusama coin?
At the time of writing, the Kusama’s value had gone up by 2.64% within just 24 hours and had a live market cap of more than $2billion. Capitalising on all the plus points of Bitcoin, Kusama has been hailed as a pioneering project with incredible benefits to offer holders. It currently has a circulation supply of more than 8 million and has enjoyed an all-time high of $623.75 and is considered to be a profitable crypto investment for the future.
Similar to Dogecoin, Shiba Inu is also based on a dog meme and is rapidly emerging as one of the highest-performing cryptocurrencies on the market. Created anonymously in August 2020 and thought to be inspired by Dogecoin, Shiba Inu has skyrocketed to massive heights in such a short space of time.
In less than two years, it has amassed more than one million holders and in the space of just one year, it generated gains of almost 40%. Shiba Inu’s exchange price enjoyed a massive surge in October of last year, where its value increased by 240% within a week. While the value slid and continued to drop over the following months, Shiba Inu is still considered to be one of the most lucrative cryptocurrencies for investors.
The currency runs an attractive network that allows holders to stake their tokens rather than selling them in order to earn interest. Furthermore, the Shiba Inu has been widely endorsed as a payment method on various online platforms, thereby helping to drive up its value.
Lucky Block has amassed more than 15,000 investors ahead of its launch on February 1 2022 and is causing quite a stir online. The premise of Lucky Block is to provide a safe space for online gambling with the aim of creating a worldwide lottery where “everyone’s a winner”. Offering lottery games using blockchain protocols and operating on the Binance smart chain, Lucky Block strives to focus on transparency and fairness in gaming.
By offering lottery games to users all across the globe without the need for using an intermediary, Lucky Block aims to transfer the lottery landscape. Furthermore, if the innovation and dedication of the platform’s team behind the Lucky Block project is anything to go by, then the tokens could generate significant returns This, along with its aim to revolutionise gaming, is perhaps why it is unsurprising that Lucky Block is so attractive to investors.
Investing in a cryptocurrency definitely carries risks. The market is still relatively new and has shown to be particularly volatile; however, new digital currencies seem to be experiencing an impressive surge. Whether that surge continues in the future remains to be seen.