Best Cryptocurrencies To Buy in 2022

With almost 16,628 Plus digital assets now in circulation, knowing which cryptocurrency to invest in can be challenging.

Ultimately, more and more cryptocurrency investors are looking to catch that next big thing with the hope of generating huge returns.

In this article, we explore the best cryptocurrencies to buy in 2022 alongside a quick overview of how you can find your own digital assets to invest in.

List of the Best Cryptocurrencies To Buy in 2022 - Quick Overview

Below you will find a quick overview of the best cryptocurrencies to buy in 2022.

Bitcoin (BTC)

Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of Jan. 3, 2022, a single Bitcoin’s price was over $46,000. That’s the growth of about 9,200%.

Ethereum (ETH)

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to January 2022, its price went from about $11 to over $3,700, increasing by over 33,500%.

Binance Coin (BNB)

The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world.

Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.

Its price in 2017 was just $0.10; by Jan. 3, 2022, it had risen to around $520, a gain of approximately 520,000%.

Tether (USDT)

Unlike some other forms of cryptocurrency, Tether is a stable coin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.

Solana (SOL)

Developed to help power decentralized finance (Defi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

When it launched in 2020, SOL’s price started at $0.77. By Jan. 3, 2022, its price was around $171, a gain of more than 22,000%.

Cardano (ADA)

Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.

Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Jan. 3, 2022, its price was $1.34. This is an increase of 6,600%.

U.S. Dollar Coin (USDC)

Like Tether, USD Coin (USDC) is a stable coin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

XRP (XRP)

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of Jan. 3, 2022, its price reached $0.83, equal to a rise of more than 13,700%.

Terra (LUNA)

Terra is a blockchain payment platform for stable coins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stable coins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stable coins.

Terra stable coins and Luna work in concert according to supply and demand: When a stable coin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stable coin. Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stable coins to mint more Luna. As adoption of the Terra platforms grows, so too does the value of Luna.

From Jan. 3, 2021, when its price was $0.64, Luna has risen over 14,300% to $92.64 a year later.

Polkadot (DOT)

Cryptocurrencies may use any number of blockchains; Polkadot (and its namesake crypto) aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and have spurred impressive growth since Polkadot’s launch in 2020.

Shiba Inu (SHIB) - One of the Best-Performing Cryptocurrencies of the Year

Launched in August 2020, the rise of Shiba Inu in such a short period of time is nothing short of uncanny. According to Coinmarketcap, this digital currency was priced at $0.000000000078 at the turn of 2021.

Fast forward to November 2021 and the same digital currency hit highs of $0.0000312. This means that in less than 12 months of trading, Shiba Inu generated gains of nearly 40 million%.