There are nearly 14,000 different cryptocurrencies on the market and that number is growing every day. So it’s completely understandable to be unsure of which to invest in in 2022.
To help you find your way around, here are the top 5 best cryptos to hold for the long term.
1. Bitcoin (BTC)
It’s impossible not to talk about Bitcoin and consequently, it’s impossible not to have Bitcoin in your wallet.
Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original crypto. Like most cryptocurrencies, BTC operates on a blockchain, or a ledger of transactions distributed across a network of thousands of computers.
The price of bitcoin has skyrocketed as it has become a household name. In May 2016, you could buy one bitcoin for about $500. By May 1, 2022, the price of a single Bitcoin was over $38,000. That’s a growth of over 7,500%
Bitcoin is the most incredible store of digital value in the world, and its value will most certainly increase for two fundamental reasons
2. Ethereum (ETH)
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite among program developers because of its potential applications, such as so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Ethereum has also seen tremendous growth. From April 2016 to early May 2022, its price rose from about $11 to more than $2,700, an increase of nearly 25,000 percent.
ETH 2.0 is scheduled for release in mid-September. ETH 2.0 is the big and major development expected by the entire cryptocurrency ecosystem. Ethereum teams, led by founder Vitalik Buterin, have been working on improving their blockchain for several years.
3. Binance (BNB)
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 grown beyond simply facilitating exchanges on the Binance exchange platform. Now, it can be used for trading, payment processing or even travel booking. It can also be traded or exchanged against other forms of altcoins, such as Ethereum or Bitcoin.
The evolution of the BNB price depends largely on the number of users of the platform. However, as we are still in the early stages of the crypto advent and mass adoption it is very likely that the price of BNB will continue to rise. Moreover, it is a currency frequently used on DEFI sites as an exchange or transaction currency.
The price of BNB in 2017 was just $0.10. By early May 2022, its price had risen to about $383, a gain of about 350,000%.
4. Solana (SOL)
Developed to help power decentralized financial uses (DeFi), decentralized applications (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanism that helps it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.
The year 2021 saw the Solana crypto price take off vertically from $1.37 to $175..
When it launched in 2020, SOL was priced at $0.77. As of May 1, 2022, its price was approximately $87, a gain of over 11,000%.
5. Cardano (ADA)
Cardano is notable for its early adoption of proof-of-stake validation. This method speeds up transaction time and decreases energy consumption and environmental impact by removing the competitive aspect and problem solving of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications that are powered by ADA, its native currency.
Cardano’s ADA token has seen relatively modest growth compared to other major cryptocurrencies. In 2017, ADA’s price was $0.02. As of May 1, 2022, its price was $0.77. This is an increase of 3,750%.
Dislaimer : This information is not contractual and does not constitute investment advice or a recommendation to buy or sell crypto assets or a solicitation to use any particular platform. There are many scams on crypto assets, stay vigilant and get informed before any investment.