So is it too late to invest in cryptocurrency in 2022? Not a chance! Bitcoin, the leading cryptocurrency by market capitalization might have been launched over a decade ago, but it is still very much open to new investments in 2022.
In this article, we explore the various opportunities in the cryptocurrency market within the year. We also recommend some crypto coins you might be interested to have in your digital cash portfolio ahead of the massive bull runs.
Why Get Involved in Cryptocurrency?
From government regulations, limited adoptions, and higher volatilities; there are many reasons to convince you not to invest in cryptocurrency. But why must you have at least one digital currency in your portfolio this year?
Getting involved in cryptocurrency can help you tap into this new financial system that promises to make payments easier and transparent. According to Investopedia, one of the reasons why people get involved in cryptocurrency is because it allows them to be in control of their funds, as well as the private keys that protect their digital assets.
Benefits to Owning Cryptocurrency
Analysts are already projecting stiffer regulations, a clampdown on some cryptocurrency trading platforms, and a decline in the value of cryptocurrencies within the year. Away from the bearish news and all that, here are a few reasons why investing in cryptocurrencies is worth it:
- Cryptocurrencies can serve as a potential store of value, especially if you are looking to save money for many years.
- Because of the limited supply of most cryptocurrencies like Bitcoin, you might enjoy higher returns on investments when more persons buy the coin.
- Most cryptocurrencies are decentralized, making them less susceptible to government control.
- Cryptocurrencies can be used as a faster means of transferring funds, especially across borders.
- Enjoy lower transaction fees when paying with cryptocurrencies.
Is It Too Late To Invest In Cryptocurrency In 2022? – No!
Are you late to board the train or are there more seats available for you to get on board? In our opinion, it is not too late to get into cryptocurrency investment within the year. Here are some of the reasons why we think so:
- The market capitalization of the Bitcoin cryptocurrency market grew by over 70% from the previous year, giving ideas that there is more room for growth.
- Following the news and hype around cryptocurrencies, we can expect more institutional players to invest in this market in 2022.
- Newer services and products are set to be launched by some of the leading cryptocurrency projects.
- It is expected that more cryptocurrency projects would open new frontiers for real-world transactions.
Best Coins to Get into for Long Term
The cryptocurrency market has over 13,000 coins traded across different exchanges. These coins also have one or more use cases and are classified into different ecosystems. Out of all those numbers, only some of the coins would make new highs and make the investors richer this year.
The challenge is, however, how to identify these coins. We have followed the trends and monitored the news in the market. We came up with the following crypto coins and recommend them for long-term hold.
Coin 1 – Ethereum
The first coin we recommend is Ethereum. It is not only the second-largest cryptocurrency by market capitalization but also a solid cryptocurrency project. Most cryptocurrency projects have adopted the Ethereum blockchain network for future development. Besides, the blockchain network opens up newer opportunities in the market, including Decentralized Applications (DApps).
Here are some of the reasons why you should hold at least one Ethereum (ETH) in your cryptocurrency wallet.
- The second phase of the Ethereum blockchain consensus mechanism is known as Ethereum 2.0. (ETH2) is set to be released within the year. This allows for the participating token owners to be a part of validating transactions in the entire network.
- More developers are attracted to the Ethereum blockchain and with newer developments expected on the chain, we expect more developer activities this year.
- The number of decentralized projects created on the Ethereum blockchain is expected to rise over time, considering that the native token (ETH) can be converted to that of the native coin of the participating projects.
- Ethereum (ETH) is a long-term investment because of the upgrades in the pipeline.
Coin 2 – Decentraland
The whole conversation around the Metaverse or “Virtual World” gets more interesting with the opportunities presented by the Decentraland (MANA) project. This project aims to make virtual world adoptions more interesting by allowing the users to create a virtual space, as well as create and trade digital work, such as artwork and estates. These categories of artworks would be collectively traded as Non-Fungible Tokens (NFTs).
That said, here are some reasons why owning one or more of the MANA coins are worth it.
- Decentraland runs on the Aragon Decentralized Autonomous Organization (DAO), which allows for the connection of the platform to Smart Contracts on the Ethereum blockchain.
- Decentraland is liquid. For example, its native token (MANA) has billions of dollars in trading volume every 24 hours.
- The project has a progress model, which includes opening up newer opportunities for the project to gain adoption in the future.
Coin 3 – Enjin
The Enjin Coin with the ticker as “ENJ” is a decentralized project that allows the users, especially cryptocurrency/blockchain developers to leverage the platform to create and trade different kinds of digital products and services. Some of the reasons to invest in it are:
- It has an active developer team.
- It has room for staking the native coin (ENJ) to earn passive income from the liquidity pool.
- The project has an underlying value that allows it to be used across multiple industries, such as automobile, Decentralized Finance (DeFi), and video gaming.
Coin 4 – Crypto.com Coin
Crypto.com Coin (CRO) is the native coin of the Crypto.com cryptocurrency exchange. As the native coin, it can be used to settle payments on the platform. Asides from that, you can invest in it for the following reasons.
- It has a branding advantage.
- The Crypto.com platform has lots of strategic partnerships, including Alchemy. Booking.com, Kaiko, YSNEAKERS, Binance, and Travala.com.
- The Crypto.com platform offers a variety of services, such as Crypto Credit, Crypto Earn, Crypto.com Pay, and Crypto.com VISA Card.
Coin 5 – XRP
Ripple (XRP) has been through a lot in the previous year. From lengthened periods of court cases to investor selling off, the coin has had a rough year. But that could translate to a new beginning as it is one of the coins on the portfolio of many cryptocurrency investors. Considering investing in or owning it for these reasons.
- The native protocol can be used for many purposes, such as making large transactions of cryptocurrencies and fiat currencies.
- Speedy transaction time.
- It is one of the most reliable cross-border cryptocurrency projects.
Where to Buy Crypto? – Binance US
Are you looking for where to buy one or more of the recommended cryptocurrencies? The Binance US platform is one of the best places to carry out the transaction.
Benefits to Binance US
Here are some of the reasons why you should buy cryptocurrency on the Binance US platform:
- It has a solid list of cryptocurrencies.
- Low fee structure.
- Earn passive income on the platform by staking (using cryptocurrencies to valid new transactions).
The year has just begun and many cryptocurrency analysts are making predictions on the future of the market throughout the year. So if you were wondering if it is too late to invest in cryptocurrency in 2022 we hope this helped you out. Your best bet is to take some time to understudy the market, develop a solid trading strategy and pick one or more of the cryptocurrencies we recommended for a profitable 2022.