- Which are the top five most valuable cryptos?
- Are they worth investing in now?
- What potential do they have to grow in the future?
The value of digital money has increased throughout the ages, and these five companies have generated the most valuable forms of currency.
It was 2009 when the first crypto, Bitcoin, made a considerable sensation in the market. It is a kind of digital currency that is produced and kept online. Because of the anonymity of virtual money transactions, Bitcoins have grown in popularity.
The internet allows people to do business without government interference or political uncertainty. There are now a lot of cryptos that are performing better than Bitcoin in the marketplace. Check out the top five most valuable digital currencies now.
Most valuable crypto coins to watch right now
Let’s look at the top five most valuable coins to invest in 2022.
Bitcoin (BTC)
The first crypto, Bitcoin, was released in 2008. Bitcoin’s uniqueness lies in that no one knows who came up with it. Only the pseudonym Satoshi Nakamoto is known to us.
The blockchain distributed ledger technology underpins Bitcoin, a digital currency you can read more about here. The use of Bitcoin eliminates the need for centralized intermediaries, such as banks and credit card companies, when sending money electronically.
You don’t have to go via your bank if you want to transfer 1 BTC to a friend. Bitcoin embodies the best of both the decentralized and digital worlds. Fiat currencies like the US dollar, the pound sterling, and the yen of Japan are being challenged by this new currency.
Why does it have the potential to grow?
As the first and most prominent cryptocurrency, BTC has a vast and active developer and investment community, making it one of the most promising for the future. Because all the leading exchanges and wallets support it, purchasing Bitcoin is straightforward, even for beginners. In addition, a growing number of businesses are beginning to accept Bitcoin as a form of payment. Many businesses, including Bloomberg, Microsoft, Overstock.com, and Expedia.com, have begun accepting Bitcoin payments.
How much would you earn if you invested in BTC 1 year ago?
BTC coin price on 8 May 2021 was $58,803.78. A year later, the coin price closed at $34,530.75. So if you had invested $1,000 last year, your account could have gained $4949.7.
Ethereum (Ether)
Ethereum is the second most valuable crypto globally, just after Bitcoin. However, ETH, which Vitalik Buterin launched in 2015, is more than just a digital currency.
Why does it have the potential to grow?
Decentralized software and smart contract platform based on the blockchain ETH. On the Ethereum blockchain, Ether is the primary currency used for all transactions. First, however, it is essential to note the difference between “smart contracts” and “blockchain-based agreements.”
If you have a company or application idea that uses blockchain technology, you don’t have to construct your blockchain. Unlike the other top ten cryptos, you can start producing ETH on the blockchain. In the BTC industry, smart contracts are viewed as the next big thing, and this platform is commonly utilized to create them.
To launch other blockchain startups’ Initial Coin Offerings, Ethereum is a great choice (ICOs). Most of the $5.6 billion in ICOs launched in 2017 was hosted on Ethereum. Compared to Bitcoin, which may take up to 10 minutes to complete a transaction, Ethereum takes only a few seconds.
How much would you earn if you invested in ETH 1 year ago?
ETH coin price on 8 May 2021 was $3902.65. A year later, the coin price closed at $2533.5. So if you had invested $1,000 last year, your account could have gained $8887.36.
Ripple (XRP)
International financial transactions are the exclusive emphasis of Ripple’s cryptocurrency. It makes it a one-of-a-kind alternative to other cryptos. To make international transactions as fast and economical as feasible, it was founded in 2012.
From a total of 100 billion XRP that will ever exist, Ripple Labs now holds half of that amount, 50 billion XRP. This contrasts sharply with most of the top ten cryptos, where no one group owns most of the coins in circulation.
Why does it have the potential to grow?
International money transfers might take up to a week to complete. In contrast, Ripple can do this in a matter of seconds. As a result, the fees are significantly less expensive than those imposed by banks and other forms of digital currency.
How much would you earn if you invested in XRP 1 year ago?
XRP coin price on 8 May 2021 was $1.5625. A year later, the coin price closed at $0.5693. So if you had invested $1,000 last year, your account could have lost $635.6.
Cardano (ADA)
Ethereum co-founder Charles Hoskinson established Cardano in September 2017. It was designed to support decentralized apps and smart contracts, much like Ethereum.
Why does it have the potential to grow?
Cardano, like EOS, is unique from Ethereum because of its significant technological breakthroughs over Ethereum. With EOS and NEO, Cardano is expected to rank among the top ten cryptocurrencies in 2022 as the third and most advanced generation of blockchain technology.
Cardano has the support of a global network of academics and scientists working together to build the company’s blockchain. Cardano has a transaction pace of 257 per second, compared to Ethereum’s 128 per second. To be interoperable with other cryptocurrencies and their infrastructures, Cardano plans to achieve interoperability.
How much would you earn if you invested in ADA 1 year ago?
ADA coin price on 8 May 2021 was $1.619554. A year later, the coin price closed at $0.736190. So if you had invested $1,000 last year, your account could have lost $545.436.
Litecoin (LTC)
Litecoin was created in 2011 by a former Google employee named Charlie Lee. An attempt was made on the Bitcoin blockchain to improve it. However, there are no smart contracts built into Litecoin as there are in Bitcoin.
Why does it have the potential to grow?
Litecoin is one of the most popular cryptos since it has been active for more than seven years. Transactions in Litecoin are completed in 2.5 minutes. However, with Bitcoin, the process might take as long as 10 minutes. That’s why it’s called the “Lite” coin.
How much would you earn if you invested in LTC 1 year ago?
LTC coin price on 8 May 2021 was $346.37. A year later, the coin price closed at $93.52. So if you had invested $1,000 last year, your account could have lost $729.9.
Final thoughts
If you’re serious about investing in cryptos, you should take steps to increase your security. The information we provided on the top five cryptocurrencies to buy in 2022 was intended to assist you in making an informed decision. However, it would help if you did more than buy the best cryptos. Many would-be crypto investors have had their trips cut short because of a lack of security attention.