It feels quite overwhelming when you have too many investment options to choose from when you think of buying cryptocurrency. You keep wondering which cryptocurrency to buy. Getting started is challenging. You’ll only need to research well before making a decision.
You can select from thousands of divergent cryptocurrencies based on their market value. You can also find out the net worth of all the digital coins currently in circulation.
Let’s do some result-oriented research on which cryptocurrency to buy. Get your bearings with some of the top cryptocurrencies discussed below:
Cryptocurrency To Buy In 2022
1. Bitcoin (BTC) ーMarket Capital: $880 Billion
Bitcoin (BTC) came into being in 2009 by someone nicknamed Satoshi Nakamoto. It is the original cryptocurrency, and like other crypto assets, it runs on a blockchain or a ledger. This ledger records transactions distributed across a vast network of thousands of computers.
Bitcoin’s price has shot up, and it has now become a well-known top-ranking crypto asset. If we go back to May 2016, you could buy a BTC for about $500. Talking of April 2022, the worth of a single Bitcoin is over $46,300. The growth has exceeded by an exemplary 9,000%.
While you research which cryptocurrency to buy, recall that Crypto traders have to solve a cryptographic puzzle to verify upcoming transactions. People call it proof of work. Bitcoin is high in safety and security from fraudsters.
2. Ethereum (ETH) ーMarket Capital: $415 Billion
Even though ETH emerged in 2015, it has earned a reputation as the second-best player in the crypto market. Ethereum (ETH) is developers’ favorite due to its impactful applications. These applications comprise smart contracts that are self-executable when conditions meet. These applications also process NFTs.
To consider which cryptocurrency to buy right now, look at the stats from April 2016 to the start of April 2022, its price skyrocketed from about $11 to above $3,450. It increased by a surprising 31,000%. Ethereum has also accomplished exceptional growth.
Its most competent Ethereum network brought decentralized finance (DeFi) into action. It is an exploding field of finance established as a result of the lack of traditional financial intermediaries, such as banks, brokers, and centralized exchanges.
3. Tether (USDT) ーCapital: Over $79 Billion
Tether (USDT) tokens are different from other forms of cryptocurrency as they are the most widely adopted stablecoins. The coin was launched in 2014 which is a blockchain-enabled platform created to regulate the use of fiat currencies in a digital way.
It means it has the empowerment of fiat currencies like the U.S. dollar and Euro. So it equals the value of one of those authorities which indicates that Tether’s worth is more consistent than any others in the market.
It is a top pick for investors who are cautious about which cryptocurrency to buy with the maximal volatility of other coins. It challenged the conventional financial system and spearheaded the digital use of currencies. Tether tokens support growing ventures all through the blockchain sphere.
4. Binance Coin (BNB) ーMarket Capital: Over $68 Billion
You can trade the Binance Coin and pay fees on Binance, one of the largest crypto exchanges worldwide. It launched in 2017; since then, it has expanded its trading on Binance’s exchange platform. Nowadays, people use it for trading, payment processing, and travel bookings. You can also trade or exchange Binance for other forms of crypto like Bitcoin or Ethereum.
During your research on which cryptocurrency to buy, keep in mind that 2017 showed BNB’s price as only $0.10. Besides, in April 2022 start, the price had risen to about $445 with a gain of around 445,000%.
You can use BNB for buying products and services and settling transaction fees on Binance Smart Chain. You can also take part in BNB’s exclusive token sales and more.
5. U.S. Dollar Coin (USDC) ーMarket Capital: Over $53 Billion
U.S. Dollar Coin (USDC) is a stablecoin like Tether. It means the U.S. dollar powers it. Meaning owners can exchange it for $1 anytime. It also has Ethereum’s support, which means it is an Ethereum-based stablecoin. You can utilize USD coins for global transactions.
Launched in late 2018, a company called Centre Consortium developed USDC. The company represents the partnership between Circle and Coinbase. The USDC maintains stability, unlike many other volatile cryptos.
Even so, while deciding on which cryptocurrency to buy, remember that stablecoins can also be liable to mild changes in price.
The Bottom Line
Cryptocurrencies serve their manifold purposes. These are the most innovative forms of modern currencies. When deciding which cryptocurrency to buy, stay updated about the market prices.
An ideal way to dig out pearls of knowledge about a cryptocurrency is to look into its white paper. It tells you all about this digital asset. This includes its use cases, future plans, and scalability. You can also get to analyze its community engagement and possibilities to grow.