The Top 6 Cryptocurrencies to Place Your Bets On in 2022

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The Top 6 Cryptocurrencies to Place Your Bets On in 2022

Since its launch in 2013 in the form of bitcoin, the crypto has changed the course of money. There is just no hiding from crypto at this point. Everyw

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Since its launch in 2013 in the form of bitcoin, the crypto has changed the course of money. There is just no hiding from crypto at this point. Everywhere you go, someone is talking about it and it’s all over the news too.

As you know crypto has taken a huge dip in the past couple of months. But you have to remember, as much as your portfolio is in the red and you are probably down a lot, times like these in a crypto market are when a lot of money is made.

Ethereum

Even though everybody is talking about it, there is something really big happening this year that a lot of people don’t know about. Ethereum phase 2 is set to release sometime in the first half of 2022 and it’s going to change from proof of work coin to the proof of stake model, here the community can now be able to validate the blockchain.

This is finally going to allow you to stake Ethereum. You can still stake ETH but it is locked and cannot be removed until this merge happens. It was all under development since phase 0.

Everything in Ethereum works as each node keeps a copy of the transaction and this is why it is a lot slower than other coins. When a transaction comes through, each node must confirm the transaction with each other resulting in slowing down the process. With the upcoming phase, it will divide up the responsibilities where only a group of nodes will validate the transaction which will result in faster transactions.

Bitcoin

Bitcoin is ranked number one based on the market cap with a total volume of $795.52 billion. This coin is somehow dubbed as the digital equivalent of gold and this is because the assets in its network are designed so there is a limited supply. A total of 21 million coins can be mined from the network.

Simple economics tells us that “scarcity drives demand which drives value”. If the demand for BTC remains the same, which it absolutely will, and the supply is now decreasing, this will cause a huge increase in the price of Bitcoin.

Bficoin

Even though this coin is still relatively new, it is quickly gaining traction in the market. Bficoin surged to a new all-time high as the market’s dominant currencies were hit by a large sell-off.

The Bficoin is skyrocketing in 2022, rising from $5 to an all-time high of $45 in just a month. With all-new technology, tremendous scalability, and a vast utility-based Bfic Ecosystem, BFIC represents the Crypto Industry’s inescapable future.

The destiny of BFIC contains new and revolutionary utilities with new money-making opportunities, more features, and whatnot. Above all, this coin has the lowest transaction fee, and it is based on the most updated 3rd generation of blockchain technology that makes its transactions lightning fast.

Solana

Since crypto has dropped and Solana is currently trading at $140. NTF’s platforms and other projects are still being built on Solana because of its fast transaction speed and low gas fees.

Ethereum has millions of users and stability but it does not take from the fact that Solano is still a very great project and most likely will take away some market share from Ethereum.

Another perk of Solana, if you hold it, you can stake it up to seven to eight percent return on your money which is some great passive income.

Dogecoin

With this coin’s current price rally, it’s quite easy to wonder, is it still a good investment? To date, Dogecoin has been up by a very huge margin and is now close to crossing the 19-billion-dollar market cap. If you are a long-term investor, Dogecoin can be a good investment.

Because Elon Musk is a believer in this cryptocurrency, Dogecoin is the coin to keep an eye on in 2022. Every single time he tweets about Shiba or dodge or some sort of Shiba Inu dog, something typically happens to the price.

People act irrationally with these meme coins. They simply buy it because they believe others would, and this encourages others to do so as well. That is how these coins go up high in their prices.

They’re supposed to get in before it becomes parabolic, then sell when it starts to rise and make a profit. All these reasons are leading to the belief that dogecoin is the right coin to buy in 2022.

Polygon

Last but not least, this coin is very interesting because it is the layer two solutions to Ethereum which we talked about. The transactions are super-fast and most importantly, very cheap on the network. That is why there might be a possibility that CoinBase’s new NFT marketplace, which they have already announced, will run on the Polygon network.

Polygon has thousands of developers actively working to make it better and when you have that talent and great minds working together for something big, it is hard for no value to come from it.
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