Which is the Best Crypto to Buy in 2022?
As the cryptocurrency market saw a boom in 2021, it is now anticipated that the year 2022 will be even better for crypto investors. So if you're also considering investing in this asset class for the first time, the first thing you should research is - Which is the Best Crypto to Buy in 2022?
Recently, Digital currencies have attracted a lot of interest because they have the potential to outperform the stock market. So, investors are eyeing to grab that golden chance with the hope of having great returns. In this article, we will be discussing the best crypto to buy in 2022 and the whole process of buying it. So, read till the end to know how you can increase your chances of having greater returns on cryptocurrencies.
When most people hear about cryptocurrencies, they think of bitcoins. But cryptocurrencies are not all about bitcoins only; several other digital currencies are available that are equally valuable as Bitcoins. Such cryptocurrencies include Ethereum, Litecoin, Dogecoin, Tether and many more.
Which is the Best Crypto to Buy in 2022?
Before moving forward, first, learn the basics of Cryptocurrency and how it works? A cryptocurrency, in simple words, is a sort of virtual or digital money in the form of coins or tokens.
Though some cryptocurrencies have entered the real world through credit cards or other schemes, the vast majority of cryptocurrencies remain completely virtual. Crypto refers to the complex encryption that creates and processes these virtual coins as well as their transactions across decentralized platforms.
As we know, the crypto market is full of uncertainty, so which currency will rise or fall? It's quite impossible to predict. But, we have listed a few cryptos that will surely be the best buy for 2022. Take a look!
Top Crypto Picks for 2022:
1. Ether (ETH):
If you're confused about which Cryptocurrency to buy today, you should consider investing in Ether without thinking much. Launched in 2015, Ether has become the world's second-largest Cryptocurrency today.
Ethereum has attracted the attention of the vast majority of crypto investors because of its great features, such as smart contracts that run automatically when conditions are met and non-fungible tokens. It is both a blockchain platform (NFTs) and a cryptocurrency.
Talking about the value, Ethereum has seen significant growth in a short period of time. Its price increased by approximately 33,500 per cent from April 2016 to January 2022, from around $11 to over $3,700.
2. Tether (USDT):
Tether is our second top pick as the best crypto to buy in 2022. If you're new to the world of cryptocurrencies, Tether can be the best choice as it is less volatile than other coins.
Compared to other cryptocurrencies, Tether is relatively stable, which means it is backed by fiat currencies such as the US dollar and the Euro. As a result, it holds a theoretically equivalent value to one of those denominations.
Tether's value is relatively constant than other cryptocurrencies, which is why it's highly appreciated by investors who are new or hesitate to invest much.
3. Litecoin (LTC):
Launched in 2011, Litecoin is among cryptocurrencies that are quite popular as Bitcoins. The value of this Cryptocurrency is anticipated to rise in 2022, which is a great sign if you're planning to invest in it.
Litecoin is built on an open-source worldwide payment network that is not centralized and uses the script as a PoW, which can be decoded using consumer-grade central processing units (CPUs).
Although Litecoin is quite similar to Bitcoin in many aspects, it generates blocks at a quicker pace, allowing for speedier transaction confirmation. Today, an increasing number of retailers accept Litecoin.
Litecoin has a market capitalization of $9 billion and a per-unit value of approx $130 as of January 2022, making it the world's 22nd biggest Cryptocurrency.
4. Solana (SOL):
Solana, an open-source cryptocurrency, was first released in April 2019. It is a blockchain network with its coin, SOL. Solana is a good option if you're looking for a cryptocurrency with fast transactions, cheap fees, and good returns.
Solana is a high-performance, public blockchain architecture. Compared to other cryptocurrencies, Solana's transactions flow throughout the network with both PoS and PoH; a sequence of computation and ledger with the verifiable passage of time makes it unique.
The reason behind its fast speed and low transaction costs is PoH. This crypto ecosystem is involved in several DeFi, NFT, Web3 initiatives, and smart contract projects. As of January 2022, Solana is among the best cryptocurrencies to invest with a market cap of $42B and an exchange rate of $135.
5. Polkadot (DOT):
Polkadot (DOT) is a one-of-a-kind Proof-of-Stake cryptocurrency that aims to integrate other blockchains. The protocol connects permissioned and permissionless blockchains and oracles, allowing systems to collaborate under one roof.
Gavin Wood, one of the Ethereum project's main founders who had divergent perspectives about the project's future, launched Polkadot in 2016.
Polkadot's fundamental component is its relay chain, which allows different networks to communicate with one other. Parachains, or alternative blockchains with their own native coins, are also possible for specialized use cases.
This Cryptocurrency has a market valuation of over $26 billion today, and one DOT is worth $24.50. Its high market valuation is what you can consider Polkadot as the best crypto to buy in 2022.
Which Cryptocurrency to Buy Today?
Above, we have listed out the 5 best cryptos to buy in 2022, but if you're still in confusion and looking for the best Cryptocurrency to buy today, Cardano (ADA) is our top recommendation.
As the world's 6th largest Cryptocurrency, Cardano poses great investment opportunities right now. It has a market capitalization of $40 billion and features like higher speed and advanced technology.
In order to stay up with the competition, the platform is continually evolving. Unlike Ethereum, Cardano already has a Proof-of-Stake validation mechanism that can process 250 transactions per second.
Input-Output Hong Kong (IOHK), the platform's creator, also wants to roll out an upgrade called Hydra, which would boost Cardano's scalability by adding another layer to its blockchain.
It is no surprise to say that Cardano can be the best pick for 2022. With high market capitalization and advanced technology offerings, this Cryptocurrency is going to witness a boom this year.
How to Buy Cryptocurrency?
If you're a beginner, figuring out how to buy Cryptocurrency can be quite a complicated process. But you can still do it easily by following the step-by-step procedure.
1. Choosing a Reliable Broker:
To buy Cryptocurrency, first, you need to choose a reliable broker and open an account with them. These brokers simplify the process of buying Cryptocurrency by providing simple interfaces that connect with exchanges on investors' behalf.
Some levy higher fees greater than exchanges. Others claim to charge no fee while generating money by selling information to other brokers. However, there are some brokers that charge low fees and high security. One such broker is InvestBy.
On InvestBy, Investors can easily trade on major cryptocurrencies. In addition, the broker offers low fees, tight spreads and advanced platforms that enhance the trading experience.
2. Creating an Account with Broker:
Once you're done with choosing a Broker, you can open an account with them. The account opening process may require you to verify your identity. You can do so by uploading a government-issued identity card. You can start trading Cryptocurrency once you complete the verification process.
3. Make a Deposit:
Before buying Cryptocurrency, you must first ensure that you have funds in your account. Then, you can make a deposit in your account via your bank account, a wire transfer, or even make a debit or credit card payment.
You may have to wait a few days before you can use the money you deposited to start trading in cryptocurrencies, depending on the exchange or broker and your funding method.
Here's one thing to keep in mind as a potential buyer: While some exchanges or brokers enable you to deposit funds with a credit card, this is a very risky—and expensive—option. This is because credit card companies treat purchasing cryptocurrencies with credit cards as cash advances. This implies they'll have higher interest rates than conventional purchases, and you'll have to pay additional fees.
4. Placing an order:
After making a deposit, you're ready to place your first crypto currency order. There are hundreds of cryptocurrencies to select from, including well-known names like Bitcoin and Litecoin, as well as lesser-known coins like Holo.
When you've decided which Cryptocurrency to buy, type in its ticker symbol (Bitcoin's is BTC) and the number of coins you want to buy. You can buy fractional shares of Cryptocurrency on most exchanges and brokers, allowing you to acquire a sliver of high-priced tokens like Bitcoin or Ethereum that would otherwise cost thousands of dollars.
5. Select Storage Method:
Cryptocurrency exchanges are at high risk of being stolen or hacked as it is not secured as FDIC. Investors may even lose their investment if they forget the codes to access their accounts. However, there are two options to store Cryptocurrency securely.
- Hot Wallets
- Cold Wallets
Hot Wallets: These are online crypto wallets that operate on internet-connected devices, including tablets, PCs, and phones. Hot wallets are handy, but they're more vulnerable to theft because they're still connected to the internet.
Cold Wallets: The fact that makes Cold Wallets extremely safe to store Cryptocurrency is that they aren't linked to the internet. External devices, such as a USB drive or a hard disc, are used. Cold wallets, on the other hand, must be used with caution: if you lose the keycode connected with them, or if the device breaks or malfunctions, you may never be able to recover your bitcoin. While this might happen with hot wallets, too, some are managed by custodians who can assist you in getting your money back.
Above, we have mentioned all the information about - Which is the best crypto to buy in 2022. But the final decision is totally up to you. Before purchasing any cryptocurrency, the best suggestion is to educate yourself about the market trends and technology. This will help you keep calm throughout the market's abrupt instability and prepare you to endure a lot of volatility.
In this article, we have not included Bitcoin in our list of 5 Best Crypto to Buy in 2022. Being the oldest and the most popular Cryptocurrency, Bitcoin already has great market value and presence on every broker's product portfolio.
Apart from this, we have included the step-by-step procedure for buying crypto in South Africa and How you can buy crypto with Paypal? For more information regarding Crypto purchases, you can visit InvestBy now and read the advantages of investing with them.
How to Buy Crypto in South Africa?
If you're from South Africa and wish to purchase Cryptocurrency, you'll need to create an account with a reputable broker such as InvestBy. In this part, we will assist you in how to buy crypto in South Africa.
If you're interested in buying Cryptocurrency in South Africa, you can do so by opening an account with InvestBy as it is one of the leading CFD brokers, offering CFD trading on all major cryptocurrencies. Registered in Belarus, the broker accepts clients from several countries, including South Africa.
Here's a Step-by-Step Procedure to trade Crypto CFDs with InvestBy in South Africa:
Step 1: Fill out the registration to create a new account.
Step 2: Upload your government-issued ID card and a current utility bill as proof of identity.
Step 3: Make a deposit into the new account from your bank account, e-wallet, or any of the available payment methods.
Step 4: Select a trading platform once your account has been authorized and verified: InvestBy WebTrader, InvestBy mobile app, MT4 desktop, MT4 WebTrader, MT4 Android or iOS app.
Step 5: Open or download your preferred platform and log in using your username and password. Choose the preferred Cryptocurrency you want to buy.
Step 6: Open the crypto trade and place an order.
How to Buy Crypto with Paypal?
If you want to buy Crypto with Paypal, just go for it. The process is quite easy and hassle-free. Learn how to do it in easy-to-follow step-by-step instructions below!
Step 1: Go to Paypal and click on 'Buy and Sell Crypto' from the drop-down menu.
Step 2: Select your preferred Cryptocurrency.
Step 3: Now, select the Buy option.
Step 4: Now, enter the amount you want to spend on buying Cryptocurrency.
Step 5: Make a payment using your bank account linked to a Paypal account, or you can also choose other payment options available.
Step 6: Now, Click on the Buy button. After this, you will be redirected to a confirmation screen. Your coins will be reflected on your Paypal account dashboard.