As of March 2022, there are over 18,400 cryptocurrencies. Discounting the “dead” cryptos, this number is closer to 10,000.
Still, this staggering number might be enough to put you off from even considering a crypto investment. But that’d be an unwise decision, as the top cryptocurrencies are generating tons of cash for the average Joe!
It can take forever to sift through the 10k available cryptocurrencies. But luckily, you won’t have to do that!
Below are the different types of cryptocurrency you should consider in 2022.
If you’re wondering which crypto is best, Bitcoin is still king. This is the original crypto and the market is based on Bitcoin; when its value rises and falls, the others will too.
Bitcoin’s value has exploded since its inception in 2009. For years, 1 BTC’s worth has been 5 digits, which might make it tough for beginner investors. But if you can afford it, BTC is worth it since there are things like Bitcoin ATMs from bytefederal.com.
Looking for Bitcoin alternatives? Then Ethereum is the top one to turn to. It’s the second-most-popular crypto after Bitcoin and it’s more affordable as well.
You can expect 1 ETH to cost just 4 digits. It’s not as widely used as BTC though, so if you’re planning on using it for purchases, you might hit some road bumps there. Otherwise, it’s a solid crypto investment.
Binance Coin (BNB)
Binance Coin is a crypto you can only use on Binance, which is a well-known crypto exchange.
BNB is relatively new to the scene, as it’s only been around since 2017. However, it’s exploded in growth; when it first started out, you could buy 1 BNB for $0.10, but nowadays, it’ll cost you 3 figures.
If you’d like to trade, process payments, or even book travel arrangements on Binance, then BNB is a good crypto to invest in.
As you might’ve guessed, XRP runs on the Ripple network, which mainly serves the financial services industry. This means that if you make international transactions often, then this is an ideal crypto investment. Ripple aims to make international transactions not only faster, but also cheaper.
XRP is also an attractive investment because its value is very low. You can buy 1 XRP for around just $0.50.
US Dollar Coin (USDC)
This one’s an interesting cryptocurrency since its value is backed by the US dollar; thus, it’s called a stablecoin. As a result, the dollar to USDC ratio should always be around 1:1.
Another interesting point is this crypto is actually powered by Ethereum. You’ll be able to use it to make transactions all around the world.
Invest in These Different Types of Cryptocurrency
While Bitcoin is almost a sure thing, spreading out your money across these different types of cryptocurrency will be beneficial. Diversifying your portfolio is always a good thing. Should 1 investment fail, there’s sure to be another that’ll succeed!
Now that you know which crypto to invest in, keep browsing our blog for more investment tips.