Cryptocurrencies

Top cryptocurrencies like Bitcoin and Etheruem are being used as a payment model at many companies

2021 brought new explosions into the virtual currency market. Unlike what it has been for over a decade, the current year changed many things that investors thought will take decades to achieve. Yes, today, Bitcoin is accepted as a legal tender in El Salvador. Top cryptocurrencies like Bitcoin and Etheruem are being used as a payment model at many companies. Institutional investors are also lining up to invest in digital tokens that could help them yield good profits. On the other hand, every industry is extremely whipped for the emerging use cases in blockchain technology. We are currently aboard the train that will take us to the decentralized finance (DeFi) future. Since the inception of Bitcoin in 2009, the financial ecosystem has changed upside down. Today, there are over 13,000 cryptocurrencies in circulation. The entire digital token market has ballooned to hit US$3 trillion in size, giving heavy competition to the existing financial infrastructure. Although there are thousands of cryptocurrencies in usage, new investors pick the familiar ones as their investment choice. Since it may be daunting to sift through the digital tokens to find the right one, we have listed the top 7 cryptocurrencies that have the potential to make you rich in 2022.

Top 7 Crytocurrnecies that Will Make You Rich

Bitcoin

For 12 years now, Bitcoin has managed to stay at the top. According to predictions, the trend will continue for a long time since the market capitalization difference between BTC and the next-in-line cryptocurrency, Ethereum, is void. Bitcoin hit a record high of US$69,000 in October when Bitcoin ETF made its debut in the NYSE. Since then, the digital currency is recording a downward trend. However, enthusiasts say that Bitcoin will bounce back to its previous high as institutional investors and mainstream adoption are surging.

Ethereum

As said earlier, Ethereum is the cryptocurrency that is standing right next to Bitcoin. Developed in 2013 by a Russian-Canadian teenager named Vitalik Buterin, the cryptocurrency aims to connect a decentralized network of computers and record transactions on the publicly available blockchain. Ethereum mostly follows the price trend of Bitcoin and records similar volatility. However, Ethereum 2.0 is expected to outperform BTC in many ways as it comes with less energy consumption, better speed of transactions, and lower fees.

Dogecoin

Although Dogecoin is extremely volatile, people still invest in it for the profit it has provided for initial investors. Dogecoin is often hailed as the people’s money. Created in 2013, DOGE was born out of online memes and jokes of a Shiba Inu dog that went viral over the web. However, Dogecoin came to investors' eyesight only during the 2020 Bitcoin price rally. Following this, popular names like Elon Musk and Mark Cuban have supported the memecoin and drove its price up.

Ripple

XRP is the most anticipated cryptocurrency to gain value in 2022. It is the most used coin for cross-border payments by many leading financial institutions like banks and organizations across the globe. Experts predict that the long stood SEC vs Ripple case will come to a conclusion in 2022 and if the result is in favor of XRP, then the price will eventually grow drastically.

Dash

With a mixture of ‘digital’ and ‘cash’, Dash was launched in XCoin (XCO). It emerged as a fork of the Litecoin code that provides instantaneous transactions speeds and private money transfers. In a very disruptive way, Dash has constructed itself as a decentralized autonomous organization (DAO). It means that its governance is not conducted by a human board of directors, but rather is encoded in a series of smart contracts embedded in its own software program.

Litecoin

Often referred to as Bitcoin’s little brother, Litecoin didn’t have a great year so far in 2021. However, the Bitcoin spin-off is expected to perform well in 2021 along with its peers. Litecoin emerged in 2011 after Bitcoin faced an issue and was split up into two. Unlike Bitcoin, Litecoin’s token limit also stands at 84 million.

Safemoon

In the line of top memecoins, Safemoon stands next to Dogecoin and Shiba Inu. Safemoon is relatively a new cryptocurrency that has managed to make a breakthrough in 2021. Launched in March this year, Safemoon’s price has tagged on to a positive upswing with a promise to ‘reward long-term investors’. Unfortunately, the cryptocurrency is now struggling to keep its pace and value among competitors like Dogecoin and Shiba Inu. However, it is expected to make a comeback in 2022.