What cryptocurrencies did you invest in in 2022? Read the review
To summarize: TOP 10 most profitable cryptocurrencies in 2022. Photo: media.ird.govt.nz
Since the beginning of 2022, the cryptocurrency market has been in a state of financial instability. Thus, in January, the total market capitalization of this sector was about $130 billion.
However, by July, a strong bullish momentum could be observed, as a result of which the crypto market capitalization reached a whopping $373 billion. Thus, in May, the Bitcoin rate exceeded $7,000, which became a record for the last eight months. After this rise, the value of cryptocurrencies began to decline, and the market now hovers just below the $200 billion threshold.
Still, several cryptocurrencies maintained strong positions throughout the year and were able to bypass financial declines in 2022. And this is not about Bitcoin. What kind of digital currencies are these? Read the material.
ChainLink
Cryptocurrency LINK. Photo: cryptosliva.top
ChainLink (LINK) on the list of the most stable cryptocurrencies of 2022 . The platform on which the altcoin operates is essentially designed to bridge the gap that exists between smart contracts based on blockchain technology and real applications.
From an economic perspective, LINK started the year relatively slowly, with the price of one token rising from $0.31 to just over $0.45 in the five months since the start of 2019. However, by the first week of July, the cryptocurrency reached its apogee - one token was selling for $3.74. And although the crypto asset has lost its rapid financial momentum over the past couple of months, it is still trading around $1.90.
Overall, the LINK/USD trading pair is up more than 500% since the beginning of this year, and the LINK/BTC pair is up 300% over the same period. This is an impressive achievement to say the least.
Does it make sense to invest in Bitcoin and Ethereum in 2022?
Profit is predicted for deposits in Bitcoin and Ethereum. Every crypto investor’s portfolio includes these coins, because Bitcoin and Ethereum are the basics:
- BTC blockchain - base of payment altcoins;
- Smart platforms are being developed on the ETH blockchain.
The logic of investors is clear - altcoins may disappear, but the likelihood of Bitcoin and Ether disappearing is minimal.
However, the higher the price of coins, especially BTC, the lower the percentage growth is expected. Ethereum is experiencing technical difficulties, its tokens are subject to inflation due to endless emission, and besides, Ethereum has rivals.
Therefore, investors save serious capital in Bitcoin, a smaller share in Ethereum, and send 5-10% of funds to new altcoins. But, if we are talking about a modest investment amount, then you can only make money in an aggressive style - with new promising crypto coins. In such a portfolio, the main cryptocurrencies occupy an equal share with other assets.
Binance Coin
Cryptocurrency Binance Coin. Photo: bitcoinist.com
Released in mid-2022, Binance Coin (BNB) is an altcoin that can be used for both trading purposes and to pay transaction fees on the Binance exchange. In addition, the crypto platform itself provides token owners with various bonuses and discounts when using digital currency for internal transactions.
The cost of the cryptocurrency at the beginning of 2022 was $6 per token. However, by the last week of May, the price of one token increased to $35.20, representing an increase of more than 450%. However, during the third quarter of 2022, the value of BNB decreased from $33.10 to $15.79. The price of the cryptocurrency has been relatively stable over the past couple of months, with the average price of the asset hovering just below $14 in December.
Since the beginning of the year, the total value of the BNB/USD pair has increased by more than 140%.
Where to buy cryptocurrencies?
Crypto exchanges
There are currently 258 platforms for purchasing crypto assets. The TOP 10 exchanges are as follows:
- OKEx.
- DOBI Exchange.
- Binance.
- DigiFinex.
- Huobi Global.
- BitForex.
- HitBTC.
- Fatbtc.
- IDAX.
- Coineal.
For Russian users, the most convenient exchange is Binance. This is a perfectly protected platform where you can buy/sell any useful coins. Moreover, Binance does not list weak assets. Constantly adds promising ones and excludes some assets. New updates are reported regularly. The only inconvenience is the lack of fiat deposits.
Crypto platforms popular among Russians, where deposits are made in dollars, euros and rubles:
- Exmo.
- Livecoin.
- YoBit.
You need to carefully read the commission table - the amount of deductions varies, sometimes it is 0%, sometimes it reaches +5%.
Separately, it is worth highlighting the Localbitcoins P2P exchange, where applications are submitted by individuals - all payment systems are present in it. The platform organizers ensure the security of transactions by depositing.
Exchangers
There are an order of magnitude more exchangers than stock exchanges. Reliable ones include Baksman, Platov, Bankcomat, 60cek, Kassa, Ramon-cash, Xchange, Prostocash. Tools for choosing a convenient exchanger are available on the BestChange monitoring website. In addition, it is not so easy for an exchange service to get into the BestChange rating, but it is easy to leave forever after just 3 bad reviews. Today, a new direction of cryptocurrency exchange is developing - for cash, with a courier. However, the service is currently only available in large cities.
Telegram bots, with which most users of the messenger are familiar, compete with classic exchanger sites.
Tezos
Tezos cryptocurrency. Photo: coininsider.com
Tezos (XTZ) is a cryptocurrency and decentralized computing platform that uses a formal verification protocol as well as a consensus module for internal governance decisions. XTZ owners can receive additional tokens as a bonus for creating and verifying blocks.
From a financial perspective, XTZ started the year at $0.47. But by the end of the first quarter of 2022, the cost of one token increased to $1.06. XTZ's profitability continued to rise between April and June. And on May 19, the cryptocurrency reached its annual high of $1.88. During the third quarter of this year, the price of XTZ varied between $1 and $1.20. However, since the beginning of December, the crypto asset has gained momentum again. Currently, one XTZ token is trading around $1.40.
During 2022, the value of the XTZ/USD trading pair increased by more than 190%.
Cheap cryptocurrencies
Cryptocoins, the value of which is expressed in fractions of cents, are recommended to be included in the investment portfolio, since during periods of market spurts the value of cheap cryptocurrencies in percentage terms grows faster. Of course, not all coins from the rating of virtual currencies are suitable for the stated purpose, but only promising ones.
See also: Investing in residential real estate - the pros and cons of investments and future prospects
Bytecoin (BCN)
The cryptocurrency has been operating for almost 5 years, BCN is the first coin on the CryptoNote protocol. Issue 184.470 billion. Investors trust Bitcoin due to its age, absolute anonymity of owners and the availability of free transactions.
- official website - bytecoin.org;
- exchange rate at the time of release/06/01/19 - 0.000065/0.001027;
- number of exchanges/pairs - 7/22;
- place in the ranking - 47.
To quickly return on investment in Bytecoin, it is recommended to monitor announcements of crypto exchanges. As soon as a coin is included in the listing of the next site, its market value immediately begins to rise.
BitShares (BTS)
The age of BitShares is only a month less than Bytecoin, the issue is 3,600,570,502. Specialization is the organization of space for launching autonomous companies of a decentralized type. Investors in successful startups receive interest from business profits:
- official website bitshares.org;
- exchange rate at the time of release/06/01/19 - 0.013212/0.069354;
- number of exchanges/pairs - 26/74;
- place in the ranking - 45.
The platform is an ecosystem, including exchanges, a bank and the ability to create companies, which is in demand for most ICOs.
Verge (XVG)
Payment system launched in 2014 with combined mining on Scrypt and Lyra2rev2, X17, Groestl and Blake2s. The issue of 16.555 billion. At the beginning of its existence it was called DogeCoinDark. Designed for everyday payments, includes anonymity and openness features:
- official website - vergecurrency.com;
- exchange rate, USD, at the time of issue/06/01/19 - 0.000007/0.009988;
- number of exchanges/pairs - 23/58;
- place in the ranking - 53.
Paired with Monero, Verge is a representative of a completely closed system where, according to the Wraith protocol, user IPs are hidden. Accepted as payment by pornographic sites PornHub and Brazzers.
Synthetix Network Token
Cryptocurrency Synthetix Network Token. Photo: bitbetnews.com
Token (SNX) designed to simplify transactions on the Synthetix platform. SNX is more of a technical cryptocurrency. It is used to create Synths, which are used on the Synthetix network to track the value of any underlying asset.
Between January and April, the price of one SNX token reached a maximum of $0.07. However, since May, the rate of the digital currency began to rise in price. The only significant decline occurred on November 26, when the entire cryptocurrency market experienced a serious financial decline.
Overall, SNX has increased in value by more than 200% since the start of 2022. The cryptocurrency is currently trading around $1.26.
Bitcoin Cash
Cryptocurrency Bitcoin Cash. Photo: hacked.com
Bitcoin Cash (BCH) is among the TOP 10 most popular cryptocurrencies.
Thus, during the second week of January, the price of BCH was $135. But by early April, the cryptocurrency soared to $300. Its value reached its annual maximum on June 26 - the asset was trading at $479.96. Throughout the third quarter of 2019, the price of BCH remained relatively stable, hovering around the $300 mark. However, since the beginning of November, the value of the cryptocurrency has been steadily declining. So, now one BCH token is trading at around $192.
Over the past 12 months, the value of the BCH/USD trading pair has increased by more than 30%.
Cosmos
ATOM cryptocurrency. Photo: bitok.blog
Cosmos (ATOM) is a decentralized network consisting of different blockchains that are independent, scalable and interoperable. The platform has attracted attention throughout 2022, especially after the cryptocurrency associated with the ATOM network skyrocketed in price.
For comparison: in January, the cost of this crypto asset was $0.001. Now the cryptocurrency can be bought for $4.64.
Litecoin
Cryptocurrency Litecoin. Photo: megachange.is
Litecoin (LTC) is one of the ten cryptocurrencies created by Charlie Lee as an alternative to Bitcoin.
The LTC price was $32 during the first week of January. But by June 22, the altcoin managed to reach a record $141.73 for one token. Since then, LTC numbers have started to decline. At the same time, in December the cryptocurrency was trading at a price of $43.
Over the year, the price of the LTC/USD trading pair increased by approximately 40%.
ReddCoin (RDD)
Capitalization: $50 263 560
Price: $0,001
ReddCoin is a cryptocurrency created for social networks. The Litecoin blockchain is used as a basis. ReddCoin promises to provide bloggers with the opportunity to monetize their content. For each like, the author of the liked content will be awarded a certain amount in RDD.
What awaits cryptocurrency in Kazakhstan
The main idea of the project is to become the first social cryptocurrency. At the moment, the project development team is working on creating a so-called hub that will keep track of posts on such popular social networks as Instagram, Facebook, Youtube, etc.
The developers plan to create a unified ecosystem for social network users. In addition, they want to make RDD a currency for payments in online stores and online games. Of course, many social networks and games offer their own currencies, but unlike them, RDD can be exchanged back into fiat if, for example, the user changes his mind about buying game assets.
We talked only about a small number of projects. Of course, there are many more promising developments.
Dmitry Rumyantsev, crypto market consultant
Basic Attention Token
Cryptocurrency Basic Attention Token. Photo: cryptobit.media
Basic Attention Token (BAT) is a digital currency used in the Brave browser.
Brave is a blockchain-based internet browser that rewards the habits of its users by rewarding them with BAT tokens for watching ads or when a person spends a lot of time on a site, etc. From a technical point of view, the native structure of this blockchain browser is reminiscent of Chromium, a project created by Brendan Eich, who also developed JavaScript and is the co-founder of Mozilla.
At the beginning of 2022, BAT was trading at around $0.13. By the second half of April, the currency reached its annual high of $0.44. After this, the cost of BAT decreased, and on November 17 it rose to $0.27 per token. Since the beginning of December, the price of this crypto asset has fluctuated around $1.70.
For all of 2022, the value of BAT increased by approximately 35%.
Ether
Ethereum cryptocurrency. Photo: ethereumprice.org
Ether is the second most popular digital asset on the market.
Ethereum's developers have provided the platform as a "global computer" for smart contracts—a digital protocol that helps facilitate, verify, and enforce a contract whose terms have been predetermined. In addition, the Ethereum ecosystem also allows the issuance of ERC-20 tokens.
In January, Ethereum traded around $116. Over the next six months, the value of the second-largest cryptocurrency continued to rise, reaching its yearly high of $334.66 on June 26. After a period of bullish momentum, the price of Ether began to decline before finally settling between $150 and $180. The exception is September, when the price of the cryptocurrency reached $210.
Since the end of November, Ether has been trading steadily around $130-$150, showing an increase of about 20% since the beginning of the year.
Final rating
The most stable and safest, from an investment point of view, is the Bitcoin cryptocurrency. It has everything you need to compete with Fiat. The lack of technical innovation presented by the next generation of startups does not prevent Satoshi Nakamoto's creation from strengthening its position.
In addition to popular coins, the market also features young, promising startups. Despite the fact that the first place is thoroughly occupied by Bitcoin, a number of coins have prospects of approaching it. Over time, the participants in the race may change.
