The steady rise of digital currency has opened up multiple avenues for people to make money. The opportunities that come with a trading market that is open 24 hours a day and all days of the year are tremendous. Crypto has faced skeptical investors, hesitant governments, and opinions of celebrities, only to emerge stronger. The volume of trading that takes place in India alone has increased exponentially over the past year. Younger investors with an appetite for risk are investing in crypto. The applications of each one have fortified cryptocurrency’s position in the global economy. There have been many discussions about the future of cryptocurrency and how it may affect the next financial year. There are some cryptocurrencies that have paved the way for the rest and have gained popularity over the years.
If you are thinking of investing in crypto, then you can head to CoinSwitch. It is one of the best crypto exchanges in India. They are well-known for providing guidance to newcomers by educating them. This user-friendly and free app can be the perfect place to begin your crypto journey. If you are already on board the crypto bandwagon, here are a few cryptocurrencies to watch out for in 2022.
Top cryptocurrencies to invest in 2022
- Ethereum – The dream of Ethereum of being the biggest cryptocurrency in the world does not seem so far off when you see the course of its success so far. The graph of conversion has climbed since August 2020, where the value of Eth was 46,800 rupees. It had reached a whopping 3,87,000 in July 2021 and enjoyed a position of 3,63,600 rupees till October 2021. With tons of real-world applications and powering the NFT world, Ethereum is not going anywhere. There are many projects based on the Ethereum blockchain and it is expected to reward the investors well.
- Bitcoin – Bitcoin is already leading the market and the experts are positive that it will continue to make waves in 2022. Bitcoin can be used as an exchange medium or as a long-term investment too. It has made its way into companies as a payment system. It is a trusted cryptocurrency that is being accepted in all of the parts of the world and will continue to rise in value as out of the total number of tokens, almost all have been released and the last ones are expected to be released by 2140. Bitcoin had a tough year and yet BTC to INR stands at 36,40,358 rupees at the beginning of December 2021 with an increase of 154.95% since last year.
- Dogecoin – Dogecoin is expected to thrive in 2022 thanks to its influencer and ardent supporter Elon Musk. This meme-currency has a solid community that will look to boost the value in the future. This cryptocurrency started as a joke but has gained popularity all over the world.
- Binance coin – One of the key reasons why BNB has gained popularity and risen rapidly since its launch in July 2017, is that it solves technical problems with exchange software. Exchange platforms act as a market for buying and selling digital assets. The platform itself has no part in the exchange. They merely match buyers and sellers with the same expectations and earn by charging fees to both parties. With the growing market of cryptocurrency, the request for trades per second has gone up and that delays the execution of sales.
- Shiba Inu Coin – Recently, this crypto has recorded a jump of 23% in November 2021. It has surpassed 1 million users with one million digital wallets in the digital market. Investors took notice when it managed to cross Dogecoin for a while. It has shown potential and 2022 will be a bright year for this crypto.
- Solana – Solana is popular amongst the community that is looking for a competitor to Ethereum. The massive scalability of Solana is one of the main differences between Ethereum and Solana. Solana boasts of being able to handle 50,000 transactions per second. If this fact holds in the future, then Solana will be the preferred network as the volume of transactions is expected to rise in the future.
These cryptocurrencies have shown potential and investors are backing these heavily. Despite the volatility of the crypto market, these have made profits in 2021. With the new year right around the corner, you can get started on CoinSwitch today and wait for your investments to bear fruit.