We’re all aware with how the cryptocurrency market operates. We have a lot of excitement in the industry, people are investing a lot of money, and everything is rising. This is where the smart money goes to invest since they know the market is just a matter of time until it reaches the moon.
The year 2021 has been designated as the year of cryptocurrencies. If you had purchased Ethereum a year ago, you would have made a 400% profit. You would have made a 1000 percent profit if you had purchased Cardano. If you had invested in Dogecoin, your money would have grown by more than 10,000 percent today.
Companies have invested in the cryptocurrency mania. PayPal, Starbucks, Amazon, cheap Air, and a slew of other businesses have begun to take cryptocurrency. El Salvador is the first country to officially recognise bitcoin as legal money.
Will the year 2022 be even crazy for cryptocurrencies? What does the future hold for cryptocurrency? We’ll be looking at the best five digital currencies to invest in in 2022 from the world’s 8,000 cryptocurrencies.
- BITCOIN (BTC)
Satoshi Nakamoto founded Bitcoin in 2009, which is a decentralised digital money. We all know that bitcoin was the first step toward decentralised money and blockchain technology.
Based on market capitalization, Bitcoin is the most valuable cryptocurrency. Bitcoin is presently trading at $41,992, up about 0.028 percent in the previous 24 hours. It has a market capitalization of $795.52 billion.
Because the assets in its network are supposed to have a finite quantity, Bitcoin has been termed the digital counterpart of gold.
The network can only produce 21 million coins.
Scarcity generates demand, which drives value, according to basic economics. Bitcoin will become increasingly scarce by the day, thus it is logical to expect its value to rise for a long time.
- ETHEREUM (ETH)
Vitalik Buterin created and released Etherum, a decentralised open-source smart contract blockchain platform, in 2013. It is well-known for introducing smart contract capabilities, which has elevated the project to the top of the cryptocurrency market.
Ethereum has been the digital leader and key pioneer in the crypto field for many years. Ethereum is used to power over 3,000 apps.
When we look at the projects that are being created that are expected to exceed ethereum in some way. In the first place, many of these projects were created using ethereum.
Don’t forget about Ethereum 2.0, the network-wide upgrade that will radically alter the cryptocurrency into something even greater.
Bficoin is a decentralised cryptocurrency backed by the Bfic ecosystem. This new coin is built on third-generation blockchain technology and combines the best features of Bitcoin, Ethereum, and TRON. Despite the fact that this currency is young, it is making rapid development in the market.
Bitcoin and a few other big currencies have dominated the market for the past several years. Many more coins attempted to reach the top, but none were worthy. With its third-generation advances and improved blockchain technology, BFIC has the potential to compete with the market’s top currencies.
The company’s roadmap depicts the start of numerous projects. The Innovation Factory’s development team promises to provide nearly one product every month. By and large, they are succeeding in their commitment. Three of the fifteen initiatives have already been launched. BFIC will expand exponentially with each new project launched.
In light of the company’s recent achievements and prospective projects. In the future, BFIC has the potential to increase.
- SHIBA INU
Shiba Inu is a meme token that has grown into a thriving ecosystem. With the shib incubator and shib nfts, the shib leash bone and Shiba switch offer a novel incentive system. They now have 585,000 communities and are rapidly expanding.
Shiba has launched a new NFT club, which you may join if you own one of the nfts. They have 10,000 holders in their gallery, some of which are not even for sale.
Another item Shiba possesses is a Shiba swap, which has a total value locked in excess of $2.2 billion.
Because Elon Musk is a believer in this cryptocurrency, Dogecoin is the coin to watch in 2022. When he tweets about Shiba, Dodge, or any other Shiba Inu, the price usually drops.
When it comes to meme currencies, people behave unreasonably. They just buy things because they believe others will, and this encourages others to do so as well. This is how these coins rise in value.
They’re supposed to buy in before it becomes parabolic, and then sell when it starts to rise and profit. All of these factors led to the conclusion that dogecoin is the best coin to invest in in 2022.