As the year 2022 is progressing and major world events are taking place, many interesting new cryptocurrencies are coming into existence and are gaining traction. Since they are relatively newer in the market, they are some of the cheapest cryptocurrency altogether. These projects are highly likely to be profitable investment possibilities as a result of their recent developments. If you are new to the crypto scene or simply don’t want to invest too much money in it at once, here’s a list of cryptos you should consider.
Ethereum
Ethereum is an open-source blockchain platform that allows developers to create and host decentralized apps (dApps) using smart contracts. ETH is the second-largest cryptocurrency in the world (after Bitcoin) and has considerable promise in the sectors of DeFi and NFTs. Despite the fact that the network has recently been plagued by high fees, the anticipated transition to Ethereum 2.0 seems to improve scalability, giving ETH an appealing investment option for 2022. ETH in INR is valued at around 2,07,183 rupees.
Shiba Inu
The success of Dogecoin encouraged the creation of a slew of other ‘meme currencies’ in an attempt to cash in on the trend, with Shiba Inu being one of the most profitable for investors. The SHIB price increased by a whopping 1055% in October 2021, yet the coin’s value has subsequently plunged dramatically. However, with the launch of ‘ShibSwap’, Shiba Inu’s decentralized exchange (DEX), the coin now has a practical use case which makes it a good investment in 2022. Although the prices have plunged a little, it is still a cheap and potentially good crypto to invest in.
Polygon (MATIC)
Polygon is a highly scalable blockchain platform that serves as the Ethereum network’s Layer-2 solution. As a result, developers may create their apps on Polygon or move over programmes from the Ethereum network to take advantage of quicker performance and reduced costs. MATIC has a lot of growth potential and that is what makes it a good cryptocurrency to invest in, in 2022.
Cardano
Cardano describes itself as the most environmentally friendly currency. In some ways, it is similar to Ethereum, but it is a more versatile, scalable, and energy-efficient smart contract platform. 1 Cardano coin is generally priced at 98 rupees, and you can easily purchase a few tokens without spending much money. It has increased by more than 600% in recent years. Because of its minimal energy needs, it can be mined more readily than energy-intensive currencies such as Bitcoin, indicating enormous future potential. It aims to establish a balance between energy efficiency, privacy, and regulatory compliances.
Stellar (XLM)
Stellar’s network helps interconnectivity between financial institutions to allow large-scale transactions. It is an open blockchain network that facilitates transactions between banks and investment firms and transactions that were previously costly and inefficient can now be completed instantly and at a fraction of the cost by eliminating the need for middlemen. Lumens (XLM) are Stellar’s currency, and users must have Lumens in order to transact on the network. Stellar was established by Jed McCaleb, co-founder of Ripple Labs and inventor of the Ripple protocol. Stellar Lumens were valued at roughly 14 rupees in February 2022, which makes them a great place to start if you want to invest in cryptocurrency and are new to it.
Investing in cryptocurrency can be confusing so it is imperative that you do thorough research before you make any decisions or put your money at stake. The world of cryptocurrency is overall dynamic and sees a lot of drastic highs and lows. It is always better to consult a professional in these matters.