9 Cryptocurrencies to Look into in 2022 That Aren’t Bitcoin

Bitcoin (BTC), the very first cryptocurrency, changed the investment game as we know it when it launched all the way back in 2009. Electronic money that could be bought, exchanged, invested and stored in a relatively cheap and secure way was bound to make a huge impact in the lives of those invested in investing.

 

Flash forward to today and Bitcoin has become a household name – however, over the past decade, countless new cryptocurrencies have sprouted and started making their own name in the crypto world.

 

While it’s undecided whether or not any of the other, smaller coins could ever entirely replace Bitcoin as the grand master of crypto, there’s still a lot to be said for checking them out and giving them a try.

 

Here are 9 cryptocurrencies that are making waves and could be worth looking at in 2022. 

Cryptocurrency

Dogecoin

 

The infamous “memecoin” is a type of cryptocurrency associated with an internet meme, which is typically how it gains traction. Dogecoin (DOGE), the original memecoin, was originally launched as a joke (naturally) but has since become relatively famous due to its internet relevance and the fact that it gained famous backers like Snoop Dogg and Elon Musk.

 

Dogecoin has since lost value, but spinoff currency Shiba Inu (SHIB), which is based on another currency’s secure and well-established blockchain, has become another one to watch in recent years. 

 

If you’re a playful meme master but still serious about crypto investments, you can find out how to buy Shiba Inu in Canada, or whichever area you’re in. 

 

Polkadot

 

A unique cryptocurrency you could take a look at is Polkadot (DOT) which is a PoS currency designed to connect unrelated blockchains and allow multiple systems to work together. Launched in May of 2020, the asset quickly gained traction due to how it distinguished itself.

 

DOT has a market capitalisation of around $10 billion and saw highs of over $50 in late 2021 – placing it within the top cryptocurrencies on the market right now. 

 

However, despite this, DOT still faces major competition from other bigger currencies like Cardano and Ethereum. If you’re interested in purchasing the asset, you’ll need to open an online account and start the process from there. 

 

Litecoin

 

First launched back in 2011, Litecoin (LTC) was one of the first cryptocurrencies to come after Bitcoin and is much like its predecessor in many ways, except that it has a faster transaction confirmation time which is appealing to many crypto investors.

 

Confidence in Litecoin supposedly fell in late 2020 due to its failure to perform at the same levels as Bitcoin. However, this doesn’t mean that investing in Litecoin isn’t a great idea overall. LTC may prove to have a greater reward-to-risk ratio and can have a serious financial reward in the long term.

 

Investing in LTC, the 21st-largest cryptocurrency in the world, can either be mined or purchased online as easily as any other currency, after which you can choose your investment tactic. 

 

Monero

 

If you’re looking for a secure, private and untraceable currency, start investigating options like Monero (XMR). The open-source currency launched in 2014 with a focus on community and donation, allowing more privacy and security in your crypto transactions than what Bitcoin offers, for example.

 

Monero has a market cap of 4.7 billion and is the 41st-largest currency, also with faster action time which could be another selling point. While Monero may not be considered a Bitcoin replacement, it’s certainly caught an interest due to its privacy features.

 

Ethereum

 

Widely considered Bitcoins strongest competitor, Ethereum (ETH), is the second-biggest cryptocurrency by market capitalisation and features smart contracts which are considered to have driven a dramatic growth in cryptocurrencies across the globe.

 

ETH can be purchased through a crypto exchange, a stockbroker or certain payment apps too – it’s widely available due to its massive popularity in recent years. Ethereum is predicted to grow by as much as 400% in 2022, following its steady growth since launching, and could be a great investment option for those looking to dabble in crypto investments this year. 

 

Tether

 

Stablecoins are cryptocurrencies that attempt to attach their value to another currency or other external factors to reduce volatility. Tether (USDT) is an example of such a cryptocurrency.

 

Thether is a better crypto investment option for crypto novices or those who might be more risk-averse. The fact that USDT is tied directly to the USD means that it’s easier to make direct transfers and conversions and the currency should remain relatively stable. USDT is the 4th-largest cryptocurrency with a market cap of 80 billion dollars – you can purchase it online with just the click of a button after you’ve put some thought into the decision.

 

Stellar

 

Another open blockchain network to look into is Stellar (XLM). This network was designed for larger transactions – such as between banks and investment firms – meaning that the transactions can typically take a little longer to process. 

 

Though Stellar is typically chosen by larger institutions, it’s still open to the public and easy to use and work with should you choose to invest in the currency. 

 

Cardano

 

The Cardano (ADA) blockchain was created via thorough research conducted by engineers, mathematicians and other experts in relevant fields. This makes this PoS a currency that many put their faith into, ranking it as the 8th-largest cryptocurrency to date.

 

The currency might be in the running to overtake Ethereum is Bitcoin’s biggest rival in the near future. One thing that is extremely appealing about the currency to many investors is its focus on sustainability and challenging other currencies’ energy consumption.

 

Solana

 

In terms of speed, some say that Solana (SOL) might be your best bet. It’s been shown that it can process more than 50 000 TPS, is also more environmentally friendly like Bitcoin and some other currencies, and has over 300 projects running on its system, including various stablecoins.

 

SOL could be a good long-term investment, but it’s important to research the pros and cons (as with any investment) before diving in head-first. 

 

About Kanika Gautam 196 Articles
Kanika is an ardent writer and a serial blogger in addition to being the founder of yourmotivationguru.com where she writes about growing the happiness ratio of life. She is also a technologist, bibliophile, speaker, educator and writer.

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