Some cryptocurrencies made unfathomable gains while others plummeted.
One cannot deny the fact that the cryptocurrency market is one of the most volatile yet fast-paced markets. From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can make it overwhelming when you first step into the world of crypto. Some cryptocurrencies made unfathomable gains while others plummeted. Therefore, it is important to educate yourself about safe crypto exchanges and also to keep track of how the prices rise or fall from time to time. This article features the top 10 under-the-radar cryptocurrencies to buy and hold in 2022.
Bitcoin
Developed in 2009 by someone going by the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or ledger, that logs transactions spread across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called Proof of Work, Bitcoin is safe and secure from scammers. It is one of the best cryptocurrencies to buy and hold in 2022.
ether
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers for its potential applications such as smart contracts, which execute automatically when conditions are met, and non-fungible tokens (NFTs).
tether
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning that it is backed by fiat currencies like the US dollar and the euro, and will hypothetically retain a value equivalent to one of those denominations. In theory, this means that Tether’s value should be more stable than other cryptocurrencies, and it’s favored by investors wary of the extreme volatility of other coins. It is one of the best cryptocurrencies to buy and hold in 2022.
Binance coin
Binance Coin is a form of cryptocurrency that allows you to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has evolved beyond simply facilitating trading on Binance’s exchange platform. Now it can be used for commerce, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency such as Ethereum or Bitcoin.
XRP
Developed by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on this network to facilitate the exchange of various types of currencies, including fiat currencies and other major cryptocurrencies. It is one of the best cryptocurrencies to buy and hold in 2022.
Terra
Terra is a stablecoin blockchain payment platform that relies on maintaining a balance between two types of cryptocurrencies. Terra-backed stablecoins like TerraUSD are tied to the value of physical currencies. Its counterbalance, Luna, powers the Terra platform and is used to mint more Terra stablecoins.
Cardano
A bit later on in the crypto scene, Cardano is notable for its early adoption of proof-of-stake validation. This method speeds up transaction time and decreases energy consumption and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications powered by ADA, its native coin. It is one of the best cryptocurrencies to buy and hold in 2022.
Solana
Built to support decentralized finance applications (DeFi), decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanism that helps it process transactions quickly and safe to process. SOL, Solana’s native token, powers the platform.
Speckle
Polkadot (DOT), founded in 2016, is a unique blockchain interoperability protocol designed to connect disparate chains together. It also enables the exchange of data and the processing of transactions for parachains or parallel blockchains without compromising their security. Developers can create their own blockchains while using Polkadot security. It is one of the best cryptocurrencies to buy and hold in 2022.
Litecoin
Litecoin (LTC), an open-source blockchain project launched in 2011, was developed for crypto exchanges by former Coinbase software developer Charlie Lee. It was one of the first cryptocurrencies whose code was mimicked by Bitcoin. Despite the fact that it shares similarities with Bitcoin, it was designed to have a faster transaction confirmation time. It can be used as a way to pay people worldwide without intermediaries. LTC is often considered “silver to bitcoin’s gold”.
Disclaimer: The information published in the article is for educational purposes only. By using it, you agree that the information does not constitute investment or financial advice. Do your own research and consult financial advisors before making any investment decisions.
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