Best Types of Cryptocurrency to invest In 2022

Today, everyone is talking about cryptocurrency. It all started with the launch of cryptocurrency in 2009 and, the digital realm of currency bloomed. Now, there are many sturdy competitors of Bitcoins. Following these, the crypto world grew uncontrollably in the last decade. With the development of cryptography, we have at least a thousand kinds of cryptocurrencies today. Each of them has a wild range difference in the prices and has different functions and features. It is time for us to look at a few types of cryptocurrencies.

Types of Cryptocurrency:

1. Bitcoin:

The reason and start of the Internet money or crypto era are Bitcoins. In 2009, Satoshi Nakamoto developed it and introduced Bitcoin to the world. With it, we can now do money transactions without any governing body. We call it peer-to-peer transactions. By 2021, Bitcoin token distribution count got above 18 million under 21 million. There are various applications and websites like bitcoin equaliser that one can use for buying and using them.

2. Ethereum:

After Bitcoin, the second most used cryptocurrency by 2021 was Ethereum. It is a programmable blockchain that uses Ether or ETH as the payment on the platform of Ethereum. Besides, Ether enables the users on the network to create, monetize on the Apps, and publish. It has no limit to its creation which is opposite to Bitcoin.

3. USDC:

This cryptocurrency runs on various platforms like Ethereum. As a stable coin, it gets pegged to US Dollars. It means that one USD coin is equal to one US Dollar. Around 24.1 billion USDC are circulating in the crypto world due to their acceptance in a wider range. Yet, another reason for their popularity can be how they make the transaction faster and cheaper. 

4. Tether:

It was the first stable coin in the world of cryptocurrency. The value of a Tether is always equal to the value of a fiat currency. A Tether is considered equivalent to one US dollar. They offer high transparency with a lower transaction charge. Tethers are popular among investors due to their stability compared to other cryptocurrencies that need speculations.

5. Cardano:

We can call it the third-level blockchain platform as it casts itself in that way. Their network is highly efficient and sustainable, unlike Bitcoins, as they do not need mining. We use ADA as the currency on a Cardano network. ADA got its name from the 19th-century mathematician named Ada Lovelace. Cardano specializes in tracing and identity management. It collects data from varied sources with high efficiency. 

6. XRP:

Ripple Labs Inc. developed the cryptocurrency named XRP. Hence, XRP works on the Ripple Network. You can use it for transactions over the Ripple Network. The transactions in XRP are cheaper than Bitcoins and other such cryptocurrencies that use blockchains. There are only 100 billion XRPs, and they cannot be mined.

7. Polkadot:

Gavin Wood co-founded Polkadot and took the bock chains to another level. Polkadot’s cryptocurrency is known as dot. Relay and Parachains are two parallel blockchains that Polkadots operate on. A fact about Polkadot is that it grew comparatively faster than the rest of cryptocurrencies in only a couple of years of its development.

8. DogeCoin:

If you ever hear the term joke cryptocurrency, then remember Dogecoin’s first one. It emerged in 2013 to make fun of Bitcoin and to poke it. A tweet from Elon Musk about this vision on cryptocurrency made it develop further like other legitimate cryptocurrencies. Dogecoin is like Ethereum and Bitcoin as it also works on blockchains. A plus about Dogecoins is that one can trade at a very low price.

Wrapping it up !!!

There are many more cryptocurrencies available in the global market of crypto. Investors keep scrounging for the best of them to invest in them. However, one must know that cryptocurrency does not work as a fiat currency. We use cryptocurrencies as tokens for services over the Internet. So, with everything we learned today, we now have a decent understanding of the following types of cryptocurrencies. Keeping up with the trend in the market, and how cryptos are performing will help in making the right decision. Stay tuned to get more informative blogs and, we promise to be back soon.