What are the best strategies for purchasing and selling digital currencies? Gone are the days when cryptocurrencies were considered a rarity, becoming an integral part of everyday life. Many have embarked on the adventure of cryptocurrency trading, and those who haven’t yet, have certainly heard of them.
Cryptocurrencies have been criticized and scorned on one hand and lauded and praised on the other, but they have found their place in the financial market and have no plans to depart.
Many are wondering what the cryptocurrency market will look like in the year that has just begun, whether to invest in cryptocurrencies or not and in which ones to invest? The basic question is which of the currencies will bring the biggest profit if you invest in it? Those who know the answer to this question will be extremely wealthy.
Unfortunately, there’s no magic wand, but it’s feasible to predict with a high degree of certainty and by conducting a small analysis of which digital currencies will expand the most in 2022.
The Biggest Favorite Is, of course, Bitcoin
From Bitcoin, the first cryptocurrency, to today, a plethora of various cryptocurrencies have emerged, all of which are currently traded on the crypto market. Currently, the number of cryptocurrencies circulating is close to 6,000. We assure you, and the practice has shown, that all of those are used for crypto exchange transactions to some extent.
Satoshi Nakamoto is the name of the enigmatic Bitcoin creator whose identity has never been established. According to him, there are two major culprits for the concentration of wealth in the hands of a few people: central banks and fiat currencies. He also claimed that cryptocurrencies will bring ‘democratization’ to the financial system. Bitcoin, being the trailblazer of cryptocurrencies, has the best chance of surviving, and record growth is projected.
Ether Comes Next on the List
The second cryptocurrency on the list is Ether, which, like Bitcoin, is one of the currencies that attracts a significant number of users and is swiftly climbing the ranks in terms of both value and volume of usage. However, to clarify a bit, Ethereum is a decentralized open-source blockchain, while Ether (ETH) is the platform’s original cryptocurrency.
Regarding the ratio of the volume of use and the value of the cryptocurrency itself, it should be noted that in the middle of last year, the capitalization of Ethereum was around $ 410 billion. The price of Ethereum is growing rapidly, so it recorded a jump of 350% in 2021. By comparison, Bitcoin increased its value by 97% last year.
In addition to the application in the world of cryptocurrencies, the Ethereum network is also used to generate so-called ‘smart’ contracts. These are agreements between two parties in which the system automatically monitors and regulates the fulfillment of each party’s obligations, adding value to the Ether blockchain platform and coin.
3 More Cryptocurrencies to Pay Attention to
The cryptocurrency Ripple XRP is right behind Ether, and it has the potential to make cross-border fiat currency transactions more efficient and simple. Because of this feature, it’s even possible for Ripple XRP to become part of the traditional financial system.
Ripple is followed by Litecoin, which is, in a way, a competition to Bitcoin itself. Namely, the idea is that Litecoin is used for everyday payments, such as, say, depositing/withdrawing on best Litecoin online casinos at TopCasinoExpert.com, while Bitcoin would be used for larger payments and investments.
And, at the end of this list, we would mention the NEO cryptocurrency. The NEO cryptocurrency is realized on a more technologically advanced platform than Bitcoin and similar cryptocurrencies. By the nature of things, it can be expected that more technologically advanced systems will achieve faster success and overcome systems that are technologically obsolete.
Although it’s unwise to forecast future changes in the crypto world, these 5 cryptocurrencies about whom you read above are the most promising.