Cryptocurrencies performed questionably in 2018, but even so, they continue to attract new investors in 2022.
However, many beginners struggled to find the best cryptocurrency to invest in 2022. We’ve all been there, don’t worry! I understand how confusing it can be when you’re looking to invest in new cryptocurrencies, which is why I’m here to help.
So, do you want to know what is the best cryptocurrency to invest in 2022? Wondering to yourself if you should invest in Bitcoin? Or, wondering if you should invest in Ethereum?
Well, it’s time to find an answer! I am here to answer your questions. By the end of this guide, you will know which are the best cryptocurrencies to invest in 2022. Also, if trading is what catches your eye, go straight to the top 3 cryptocurrency exchanges: Coinbase, Binance, and Coinmama.
But first, let’s talk about the recent growth of cryptocurrencies. The cryptocurrency market so far
The first cryptocurrency, Bitcoin, was invented in 2009. That was just the beginning, although no one actually knew about Bitcoin until 2013. Moreover, no one thought that it would become the best cryptocurrency to invest in.
However, since 2013 the cryptocurrency market has experienced tremendous growth — which has been hard to ignore. There are now more than 1500 different cryptocurrencies, all created in less than 5 years.
It is clear that 2017 was the year in which the crypto market exploded. The market capitalization of cryptocurrencies grew by 4000%! The market capitalization of all cryptocurrencies was around $21 billion in March 2017, while it is now $454 billion! A huge difference!
Market capitalization: The total price of the sum of all coins.
Market capitalization: The total price of the sum of all coins.
The cryptocurrency market is no longer just about Bitcoin. There are other cryptocurrencies that have entered the game, such as Ethereum, Litecoin and Ripple, the performance of all of these has been so good over the last year that they could all be “the best cryptocurrency to invest in”.
The chart below from CoinMarketCap shows the growth of cryptocurrencies over the years.
There is still a lot to say about cryptocurrencies with more future. Some think that the stage of cryptocurrencies will not last long, while others think that they are here to stay.
It’s hard to predict the future of cryptocurrencies, but what I’m sure of is that the popularity of cryptocurrencies continues to grow. One of the reasons why cryptocurrencies are becoming so popular is because of blockchain technology, which is the main technology behind all cryptocurrencies.
Blockchain technology is the next big step – it is reliable and secure technology that was first used by Bitcoin. Although you can’t learn how to invest in blockchain, you can learn how to invest in cryptocurrencies that use blockchain (therefore, all of them!)
Are you ready to discover the best cryptocurrencies of 2022 and learn how to invest in cryptocurrencies? Perfect, let’s start.What are the best cryptocurrencies to invest in 2022? Bitcoin (BTC)
If you’ve only heard of one cryptocurrency in any way, it’s probably Bitcoin. It is known as the most important cryptocurrency — it currently accounts for 40% of the total market capitalization of cryptocurrencies! It is the cryptocurrency with the longest trajectory and still dominates the market. So if Bitcoin continues to grow as it did in 2017, it would be an excellent idea to learn how to invest in Bitcoin by 2022.
The price of Bitcoin changes a lot on a daily basis and has had ups and downs in recent years. Just look at the chart below to realize how much its price changes.
The price of 1 Bitcoin has reached a low of $76 (07.09.13) and has risen to $20,000 in December 2017. But after Bitcoin peaked in December, the price of Bitcoin fell to $6000 in February 2018, and has continued to fall ever since. Crazy!
With the price changing so much in a short period of time, how to invest in Bitcoin at the best possible time?
Well, we can try to find the answers by examining some important events of the past — when the price went down or up on a large scale.
- One of the most important events was when Bitcoin was split into two cryptocurrencies — Bitcoin and Bitcoin Cash. This happened on August 1 when investors who knew about this, invested their money before the separation and made huge profits, almost doubling their investment!
- The Bitcoin price fell to $10,000 in January 2018, almost half of the $20,000 it was worth in December 2017. Many investors became concerned at this time and started selling their Bitcoin. This caused the collapse of its price that reached $ 6,000 in February 2018.
If you are interested in buying Bitcoin, you can easily do so with Coinbase or Binance. Both are highly secure and reliable.
If you want to learn how to invest in Bitcoin, then you need to stay on top of the latest news and trends about Bitcoin. When the news presents a novel technological breakthrough, you may want to consider buying Bitcoin. If there is a big drop in the price of Bitcoin, that would also be an opportune time to buy Bitcoin because you can buy it at a low price.
If you already know how to invest in cryptocurrencies, then it would be a good idea to start by investing in Bitcoin. Even if you’ve missed a magnificent opportunity the first time, investing in Bitcoin is still a good idea.
It all depends if you think Bitcoin is one of the cryptocurrencies with the most future. If you believe it, then you should consider investing in Bitcoin, otherwise I would recommend that you stay away from the currency. It’s the same with any other investment! Ethereum (ETH)
At the end of last year, Ethereum’s price was just above $720, with a total market capitalization of around $70 billion. In early 2018, Ethereum rose to its highest price of $1423 on January 4. At this time, the total market capitalization for Ethereum was $138 billion!
Ethereum grew to reach 3000% in 2017 and became the second largest cryptocurrency, coming in second place after Bitcoin.
If you’re wondering, “Should I invest in Ethereum?” or Is Ethereum the best cryptocurrency of 2022?” Well, the truth is, no one knows! However, if you already know how to invest in cryptocurrencies and want to decide if investing in Ethereum is a good option for you, the following information will be useful to you.
The chart below shows how Ethereum has grown in recent years.
Below are the most important events that affected the price of Ethereum in the past:
- Ethereum received an investment of around $150 million in May 2016. As a result, its price rose from $1 in January 2016 to $14.80 in May 2016.
- However, on June 18, 2016, members of the Ethereum community discovered that Ethereum had been hacked. Around $60 million worth of Ether (the Ethereum coin) was stolen due to a flaw in his wallet. This caused the price of Ethereum which was $21.52 on June 17, 2016 to fall to $9.96 on June 18, 2016.
Unlike Bitcoin, Ethereum is not just a virtual currency. It is a more advanced blockchain project. This is because Ethereum offers something special — by using the Ethereum platform, developers can create their own cryptocurrencies.
Imagine if you could create your own blockchain-based solution to manage your business’ supply chain. Well, thanks to Ethereum, you don’t have to start from the beginning. Instead, you can build an app on the Ethereum blockchain. Ethereum facilitates the launch of new blockchain projects.
So, is Ethereum the best cryptocurrency to invest in 2022?
I recommend that you consider adding Ethereum to your list, if you want because Ethereum seems to be one of the best cryptocurrencies to invest in 2022.