In recent years, as per the financial experts, cryptocurrencies have flared in admiration and showed a promise to keep on growing. According to the estimations, there is a potential to be around one billion Bitcoin wallets globally by 2025. Moreover, numerous investment experts anticipate that by the year 2024, prices may increase approximately $1 million.
However, a lot of people have already invested in cryptocurrency. Moreover, more than 10,000 cryptocurrencies are currently accessible for trading or investing. Hence, picking the best cryptocurrency out of such big access is a little troublesome, especially for the novice. Conversely, people who have not entered the crypto world in most cases get confused about how to get through the market along with such high prices.
To make things easier for you, we’ll go over five of the best cryptocurrencies that you should pay attention to in 2022 since they may potentially skyrocket in value in the coming days.
Best five safe haven coins to buy in 2022
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
Bitcoin is considered the king of all cryptocurrencies since it leads the whole crypto market. It is the original cryptocurrency developed by an anonymous group under Satoshi Nakamoto in 2009. Bitcoin works on a blockchain similar to most of the other cryptocurrencies.
Blockchain is a network based on thousands of computers that verify transactions in real-time without the involvement of an intermediary. Bitcoin is the front-runner for all investors. Hence, Bitcoin is the leading cryptocurrency to invest in for high incomes.
Does Bitcoin (BTC) have the potential to grow?
Bitcoin has the potential for big growth. Numerous investors who purchase and hold Bitcoin are betting that once it is fully-fledged, significant trust and greater widespread utilization will follow, and thus Bitcoin’s worth will increase.
Ethereum is non-identical to Bitcoin due to being not just only a cryptocurrency. Ethereum is a network that offers developers to develop their cryptocurrency using the network. Although the value of Ethereum is far behind, Bitcoin still managed to keep itself ahead of the other cryptocurrencies. Due to having the unique technology, Ethereum took the second-largest position.
Does Ethereum (ETH) have the potential to grow?
Ethereum is the most popular and second-large cryptocurrency. It is a lot more than just being a cryptocurrency. Ethereum is a viable rival of Bitcoin due to its faster transaction speed than Bitcoin. Also, Ethereum has the greater ecosystem of dApps based on blockchain. These features make Ethereum more admired among investors and crypto enthusiasts. Therefore, it is anticipated to encounter approximately 400% growth in its value.
Cardano is acknowledged as an environment-friendly cryptocurrency. In the process of mining, Cardano tries to keep away from the part that demands energy. It has established itself as the first wide-ranging cryptocurrency that is the ‘proof-of-stake’ structure-based. With the ‘proof-of-stake’ model, users are allowed to stake coins and develop their own substantiate network.
Does Cardano (ADA) have the potential to grow?
Cardano is a blockchain network that is expanding very fast and has huge potential to grow. Also, it has become one of the most highly appreciated cryptocurrencies on the market. Moreover, It has a robust and passionate community and developers. Cardano also has a solid Twitter following that approached its holders to exclusivity.
Solana is a decentralized blockchain developed to enable the scalability of decentralized apps or dApps, decentralized finance or DeFi uses, and smart contracts. Compared to other blockchains, Solana can securely and rapidly process transactions. It has lower transaction fees and uses consensus mechanisms for the ‘proof-of-stake’ and ‘proof-of-history.’
Does Solana (SOL) have the potential to grow?
The anticipated price of Solana may become less volatile, and if it can remain over $200, a considerable growth of SOL price may take place. According to experts, Solana’s price will stay in the range of $300 in 2022 and may potentially go up to about $400.
Polkadot is deemed as a substitute coin that attempts to incorporate different blockchains by developing a network connecting them all. For this progressive and functional objective, Polkadot has seized the attention of many investors.
Still, the ultimate objective of Polkadot is to intensify the next stage of the Internet that is known as Web 3.0. If Polkadot succeeds in exploiting those potentials, it will get a high priority. Also, Polkadot will be able to offer security and privacy-increasing advantages of the next level of the web.
Does Polkadot (DOT) have the potential to grow?
The progress for all cryptocurrencies is hugely based on the condition of the cryptocurrency market, and so is the Polkadot. Hence, in case the crypto market keeps on growing, the Polkadot will potentially grow up too. Also, if the crypto market encounters a new bullish run, the DOT’s price is very credible to hit $70 and perhaps even surpass its all-time high.
Pros and cons
|👍 Pros||👎 Cons|
Finally, each cryptocurrency has its technology making them stand apart. However, there is one significant thing that is common among all. Each of them has demonstrated a massive return compared to their initial investments. Still, you may be hesitant whether to invest in cryptocurrency or not.
Along with advantages, the drawbacks have been outweighed since the value of cryptocurrencies has risen gradually. And, most probably, it will keep on rising in the future. Hence, investing today in cryptocurrency may lead you to the realization in the future that it was a smart investment choice.