by Satavisa Patti
December 23, 2021
These investments in cryptocurrency for 2022 are possible with $100 USD
Cryptocurrency (or “cryptocurrency”) is a digital currency that can be used to purchase goods and services but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is trading for profit, as speculators sometimes push prices higher. The most popular cryptocurrency, bitcoin, has seen volatile price movements this year, reaching nearly $65,000 in April before losing nearly half of its value in May. By mid-October, the price rose rapidly again: it reached an all-time high above $66,000 before pulling back. Here are the top cryptocurrencies you can buy today.
There is absolutely no surprise that Bitcoin (CRYPTO: BTC) is still the most popular cryptocurrency in the world. Its market capitalization is currently around $1.1 trillion. If Bitcoin were a company, it would be bigger than Meta Platforms (formerly Facebook) and Tesla. Bitcoin continues to have the advantage of being the first cryptocurrency. It is more widely accepted than any other digital currency, mainly because it has been around for a longer time. Some investors even view Bitcoin as a good way to hedge against inflation since there will be no more than 21 million Bitcoins in circulation.
Ethereum (CRYPTO: ETH) ranks as number 2 somewhat far from Bitcoin in the list of the most popular cryptocurrencies. Its market capitalization is around $500 billion, less than half the size of Bitcoin. But some believe that Ethereum will be the next Bitcoin. The main advantage of Ethereum is its real-world utility. Its blockchain supports smart contracts that can be used in a wide variety of applications. In particular, Ethereum is well suited for creating non-fungible tokens (NFTs). Whether or not the cryptocurrency will take Bitcoin out of the top spot in the future, it appears that Ethereum is well positioned to stand the test of time.
Binance operates the largest cryptocurrency exchange in the world. Therefore, it makes sense that Binance Coin (CRYPTO: BNB) is the third most popular digital currency in the market. It is the original coin on the Binance exchange and currently has a market capitalization of over $96 billion. Investors who pay transaction fees with Binance Coin get discounts. Every quarter, Binance reduces the supply of cryptocurrencies based on trading volume. Over time, this quarterly “burn” of the coin will remove 100 million coins, which is half of the total supply. These moves are aimed at increasing the value of Binance coin.
Tether (CRYPTO: USDT) is the fourth most popular cryptocurrency in the world. Its market capitalization is around $73 billion. But among the stablecoins, Tether takes the lead. All stablecoins peg their value to another asset. For Tether, this asset is the US dollar. In theory, Tether is like a “crypto dollar” that should maintain its value in a similar way to the physical US dollar. However, there has been some debate over whether Tether has enough reserves to back all of its digital currencies. The US Treasury recently called on Congress to take action to address the risks to the economy from stablecoins like Tether.
Solana (CRYPTO: SOL) completes our list of the top five most popular cryptocurrencies. It currently has a market capitalization of around $65 billion. Solana has been the biggest winner in the top cryptocurrency over the past year with a gain of over 10,000%. Many investors flocked to Solana as an alternative to Ethereum. Both blockchains support smart contracts. However, Solana offers much faster processing speeds and lower transaction fees than Ethereum.
Avalanche, along with Solana, is another example of crypto that has a clear purpose, unlike meme coins like Dogecoin, which have no purpose at all. Avalanche is one of several projects seeking to “ditch Ethereum,” as one of the most widely used blockchain platforms, according to cryptocurrency exchange Gemini. Blockchain, which is part of the underlying technology of cryptocurrencies, stores information – such as the history of cryptocurrency transactions – in a way that ensures that no individual or group has control over that information. Ethereum is the most widely used blockchain network. A $220 million fund has been launched to fund the development of Avalanche, which features significantly faster Ethereum transactions (4,500 transactions per second versus Ethereum roughly 13 per second).
Do you want to quit your day job and play video games to earn money? Well, technically speaking, you can. In Axie Infinity, players buy monsters and have them fight each other to win tokens, which can then be converted into real money. During the pandemic, many Filipinos have turned to play their full-time jobs.
Meme coins depend on hype on the internet, and therefore it is almost impossible to predict which ones will take off. But the Samoyedcoin meme has intrigued Daniel Polotsky, founder of CoinFlip, a Bitcoin ATM. Like the Dogecoin, it has a cute dog face and aims to be a fun and playful ambassador for Solana.
Fetch.ai is a decentralized machine learning platform for applications such as asset trading, according to CoinBase. For example, an app from Fetch.ai helps users of crypto exchange Uniswap to automate their trading. FET is an Ethereum-based token that powers Fetch.ai. It has gained over 1500% in the last year. Fetch.AI uses its technology to support real-world applications, says Ahmed Shabana, Managing Partner of Parkpine Capital.
USD Coin (USDC) is a type of cryptocurrency referred to as a stablecoin. You can always redeem $1 coin for $1.00, giving it a fixed price. On Coinbase, eligible customers can earn rewards for every US dollar coin they hold. Each USDC is backed by one dollar or an asset of equivalent fair value, which is held in accounts with regulated financial institutions in the United States.
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