5 Best Altcoins Worth Investing in 2022: There are a lot of altcoins available in the market. In numbers, it's around 7000. As you might have guessed most of them are just scams by big people to make quick money for them. You must be aware of what cryptocurrency you are buying. Not all altcoins are bad and not worth for investment point of view. So, In this post, I'm going to tell you about 5 Best Altcoins Worth Investing in 2022.
Cryptocurrency – Introduction, meaning, and how it works
Cryptocurrency in simple terms means digital or virtual assets. Unlike fiat currencies, this type of currency does not take any physical form. The transactions are carried out and taken to closure in the virtual platform. Cryptocurrencies deploy the technology of cryptography along with blockchain and decentralized finance. There is no intervention by any third-party agency to monitor virtual transactions. This means, the profits or losses that you earn using crypto transactions are non-regulated and do not fall under the radar of any central regulating agency. Certain countries have now come up with tax regulations on capital gains on cryptocurrency transactions.
What are altcoins?
As you might be well aware, the concept of crypto came into existence through Bitcoin. Launched in 2009, Bitcoin attracted investors from across the globe. With advancements in technology and other modifications, the price of Bitcoin has reached an all-time high of $65,000 per coin. Owning a Bitcoin at this point has become an expensive affair. Making Bitcoin as the number one cryptocurrency.
During the past years, other coins also entered into the investment space. these coins are also backed by decentralized finance and blockchain technology. Other than Bitcoin, there are more than 14000 cryptocurrencies that are currently available in the market.
Best 5 altcoins for your investment
Now that we have understood the concept of altcoins, let us take a look at the 5 best coins for your investment.
This is by far the best cryptocurrency for your investment in 2022. Lucky block mainly works as a token for lottery games. This crypto works on blockchain technology and aims to modify the current operating model of online lottery games. There is increased security and transparency in transactions. The draw timing is reduced and provides an increased winning chance for every participant.
Lucky Block concluded its pre-sale and has been able to generate more than 32.5% of its entire supply. This crypto coin is now listed at $0.0021. Choose the capital you wish to invest and buy this coin from a trusted exchange.
Dogecoin is also known as meme coin and was created as fun crypto. The market price of Dogecoin is currently at $0.20 and is listed on all popular exchanges. With Tesla coming out in support of Dogecoin, the demand for this crypto has increased. Along with Tesla, there are other retailers as well giving their green signal to this crypto.
This is by far a preferred crypto coin by many investment agencies. Backed with Ripple and XRP allows banks to undertake transactions at minimal cost and maximum processing speed. The current market price of XRP is $1. The framework used by XRP is backed by more than 150 banks as well.
Launched in 2020, Shiba Inu was able to provide its investors with a huge return on investments in the last 2 years. As of today, Shiba Inu has a total market capitalization of $10 billion. Priced at $0.00025 an investor can easily invest in this crypto through a legitimate exchange.
This is another performing altcoin for your investment in 2022. Cardano has a total market capitalization of more than $33 billion. Backed with huge research and academic projects, this crypto is sure to make a hit in the coming years. The current price of Cardano is $1, and you could buy at least 100 tokens. Market research suggests at least a 25% return on this crypto in the next couple of years.
In addition to the above altcoins, Ethereum is another popular choice for investment. Despite the growing craze, it is important to understand that the crypto market is volatile. Your capital gains and losses are controlled by market fluctuations. Investments in cryptocurrencies need to be undertaken with utmost caution. Another key important factor is the type of exchange you choose. Make sure that you choose an exchange with a market presence in multiple countries. In addition to the altcoin listed above, the exchange should be capable of supporting other coins as well.
Also, it is worthwhile to notice that most countries are now coming in support of crypto transactions. Government bodies are studying the working logic of blockchain technology and cryptography. We can also expect many countries to legalize cryptos making your investments secure.