9 Of The Best Altcoins To Buy In 2022

Here are nine of the best altcoins

Last Updated November 29th 2021
18 Min Read

When people think of cryptocurrency, they typically think about Bitcoin. From 2017, Bitcoin had so much media coverage with sensational headlines across the globe, foretelling that Bitcoin price would rise to $100,000.

Many people made a lot of money from investing in Bitcoin (BTC), but, equally, uneducated investors bought Bitcoin at a high price and lost their investment because they cashed out for a loss.

The high profile of Bitcoin (BTC) raised the public profile for the cryptocurrency market, and many new altcoins sprang up as a result. The word "altcoin" literally means an alternative to Bitcoin.

There are now over 14,700 listed altcoins, and the list grows every day.

Cryptos previously dormant began a steady rise from obscurity, such as Dogecoin (DOGE) for instance, which saw 15,000% gains from 2020 to 2021. Investors were looking for the next Bitcoin because now there was proof that you could become a millionaire from investing in cryptocurrencies.

Unfortunately, many small investors value an altcoin by how much money it can make by price rises. But there are far better questions to ask yourself before investing in cryptocurrencies. For crypto tokens to stand a chance of becoming a top ten listed coin, scalability and utility may be essential factors.

Many altcoins may become popular on a public whim because they like the logo or the crypto is fun or has a strong community. But is that enough for a crypto to be worthy of investment? If not, why not, and what makes a crypto worth buying?

Most of the altcoins we feature on the list of the 9 best altcoins to buy in 2022 have made significant technological improvements on other cryptos. They learned from the limitations of Bitcoin and set out to make crypto more scalable.

Ethereum (ETH), for instance, began with a proof of work (PoW) consensus mechanism. PoS requires miners to validate transactions and build blocks, and Ethereum struggled with high gas fees (transaction fees).

Right now, Ethereum is in the middle of the Ethereum 2.0 upgrade. The network will transition to a proof of stake (PoS) consensus mechanism to lower transaction fees and improve scalability and interoperability. PoS removes the need for miners, and ETH users can earn rewards from staking their ETH to secure the network.

Cryptocurrency investing is speculative and high-risk. The crypto market is volatile and unpredictable, with huge, often unexpected price swings. Over the last 12-months, the crypto market exploded, making crazy profits for many investors. Every investor is hunting for a crypto that can make millions and hope for the next big thing in cryptos.

Some of the cryptos on our list of the top 9 altcoins to buy in 2022 need very little capital investment. If you're prepared to ride out the highs and lows of the crypto market, one of these altcoins could bring an excellent return on investment.

This post assesses 9 of the best altcoins to buy in 2022. These altcoins vary in price and utility, but they could all be worth investing in next year.

What Makes An Altcoin Good To Buy?

One of the issues with the cryptocurrency market is that there isn't enough historical data to use to predict future probabilities for price action.

Investing in a financial instrument without measurables means that crypto investments are speculative. Add to that the crypto market is unregulated and unpredictable, and you have an investment cocktail likely to cause stress and confusion when the crypto market suddenly takes a nosedive. 

You may dream of becoming a crypto millionaire, but investing in cryptocurrencies means accepting the risks and not panic selling when the crypto market turns bearish.

There are, however, guidelines for finding an altcoin with growth potential, and if you follow these guidelines, you have a better chance of securing a sound investment with your altcoins.

A checklist to assess the best altcoins to buy:

  1. How long has the altcoin been established? – it may be tempting to buy an altcoin on the first launch. But low prices are no guarantee of crypto growth. Before buying an altcoin, look at the website, understand the development network plans, and read the company mission statement.
  2. Does the crypto network have utility? Some dog-themed meme coins have gained massive popularity and don't all have definable utility. Media coverage and high numbers of followers raise branding visibility for altcoins. But the value of the altcoin could be inflated because of this and not represent actual value.
  3. Is the crypto technology scalable? – emerging cryptos are developing exceptional technology and scalability, jumping ahead of more established altcoins. Though an altcoin may have massive popularity, without scalability, longevity could be a future concern.
  4. Is the crypto interoperable? – interoperability with other blockchains is a significant benefit for a crypto network and can add to the popularity and uptake of crypto. It attracts developers and institutional investors.
  5. Does the crypto network have a strong team? – look at the founders' backgrounds, the development team, and other members. Are they highly experienced with crypto technology, for instance?

The above checklist is not definitive, but it's a great place to start before you buy altcoins.

The 9 Best Altcoins To Buy In 2022

The list of the 9 best altcoins to buy in 2022 is in no order. Each altcoin is worthy of consideration for investment in 2022.

  1. Dogecoin (DOGE)
  2. Shiba Inu (SHIB)
  3. Cardano (ADA)
  4. Stellar (XLM)
  5. Polkadot (DOT)
  6. Monero (XMR)
  7. Litecoin (LTC)
  8. Avalanche (AVAX)
  9. Solana (SOL)

 

1. Dogecoin (DOGE)

Dogecoin (DOGE) started as an internet joke in 2013 but rapidly gained popularity with followers. The goofy-looking Shiba Inu dog, a Japanese breed, appealed to the public and captured Elon Musk's attention, CEO of Tesla Inc.

Elon Musk recently became a board member of the resurrected Dogecoin Foundation, as did Vitalik Buterin, founder of Ethereum (ETH), the #2 listed cryptocurrency. Mark Cuban, a billionaire entrepreneur, also supports Dogecoin.

Dogecoin is the #10 listed altcoin and rewards peer-to-peer content creators. It has a massive following of loyal supporters.  Although Dogecoin (DOGE) has managed to hold on to the #10 position in listed cryptocurrencies, the DOGE price hasn't made much progress since the crypto market reversed in June.

Investing in Dogecoin (DOGE) can generate regular bonuses. You can earn DOGE rewards by joining a Dogecoin community and sharing.

If you want to invest in Dogecoin (DOGE), consider it a long-term investment. Today's DOGE price is less than $0.22. DOGE is available on most crypto exchanges and eToro, the world's leading social trading platform.

You can also read a recent Trading Education article, Is it better to invest or trade Dogecoin (DOGE).

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Shiba Inu (SHIB)

Shiba Inu is another dog-themed meme coin. The network has developed a big brand and attracted an army of followers, known as the ShibArmy.

Known as the "Dogecoin Killer", Shiba Inu (SHIB) made the top ten list of cryptos a few weeks ago but slid back to #14 as other altcoins gained market cap with better utility, proving it's not all about branding.

Following a spectacular rise of over 12,000,000% in less than a year, one investor recently moved $3 billion of SHIB off the market, which caused a temporary nosedive for SHIB. That investor bought $3,400 of SHIB tokens in 2020 and became a billionaire within a year.

Shiba Inu have an ecosystem of three altcoins:

  1. SHIB
  2. BONE
  3. LEASH

The Robinhood crypto exchange recently rejected rumours of adopting SHIB on the platform, which hosts only seven cryptos, one of which is the SHIB rival, Dogecoin (DOGE). To date, there are over 500,000 signatures on change.org to support Robinhood adding SHIB to the platform.

The Shiba Inu network uses proof of stake consensus mechanisms which means you can stake SHIB for rewards.

In July, Shiba Inu launched the ShibaSwap exchange, a decentralised financial services platform that should help expand Shiba Inu (SHIB) popularity.

Shiba Inu has unfortunately lost some of this year's gains. Today's SHIB price is $0.00003783, so there's a great deal of scope for the future growth of Shiba Inu (SHIB). You may find the article Is it better to invest or trade Shiba Inu helpful if you are interested in Shiba Inu (SHIB).

If you want to buy Shiba Inu (SHIB), it is available on most crypto exchanges and eToro, the world's leading social trading platform.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Cardano (ADA)

Cardano was the first to market with the first provable proof of stake (PoS) consensus mechanism and is one of the fastest-growing blockchain assets. When the crypto market turned bearish mid-year, Cardano held on to its gains for a lot longer than other altcoins.

Developers can build smart contracts and create decentralised applications and protocols on the Cardano blockchain.

The Cardano network wants to define the parameters of the new world with disruptive technology by providing provable, secure, energy-efficient and scalable protocols.

The Cardano network says it is 4 million times more efficient than Bitcoin.

ADA holders can stake their tokens for rewards of up to 4.5% APY. Read a recent article on How to stake Cardano (ADA).

Cardano (ADA) is the #6 listed cryptocurrency, and today's price is $1.66, still affordable for the small investor.

Crypto experts predict that Cardano (ADA) could be as high as $5 by 2025.

You can buy Cardano (ADA) on most crypto exchanges and eToro, where you can also stake your ADA tokens and procure a safe crypto wallet.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Stellar (XLM)

The Stellar network is a fork of Ripple. It allows money to be moved and stored by connecting major banks, financial institutions, and payment systems, enabling transactions to be moved quickly and at a low cost.

The native coin (XLM) is the Lumen, which has witnessed spectacular gains over the last five years.

The utility of the Stellar network lies in providing loans and remittances to under-financed, emerging market economies. Moving money can be costly for centralised equivalents, so using Lumen as a bridge challenges the traditional and expensive money transfer methods.

Stellar (XLM) is listed #26 altcoin at today's price of less than $0.33.

You can buy Stellar (XLM) on most crypto exchanges and eToro, the world's leading social trading platform.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Polkadot (DOT)

Gavin Wood, the Ethereum co-founder, launched Polkadot in 2020.

The open-source sharding network has a unique feature called parachains, which are blockchains that users can customise without losing the security measures. The Polkadot protocol allows for processing multiple transactions in parallel, and the multiple blockchains are interoperable with each other

Despite the complexity of parachains, the Polkadot network only requires sufficient resources to power the main chain. Polkadot's mission is to simplify the creation of new apps and services and create a decentralised platform where users have control.

Polkadot (DOT) is the #8 listed crypto that is currently under $40. Polkadot (DOT) is available to buy on eToro and all the leading crypto exchanges.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Monero (XMR)

The Monero network launched in 2014 and set out to overcome the privacy issues of Bitcoin, where Bitcoin (BTC) transactions are not entirely anonymous because some of the data is accessible to the public.

Bitcoin regulators can trace and may blacklist any transaction if they suspect criminal or malicious activity.

Transactions on the Monero network are not accessible to the public. Every transaction has a "stealth address", a massive bonus to crypto users who know their transactions are private and not subject to censorship.

Monero's native coin is XMR. The altcoin is listed #44 on CoinMarketCap and is just over $240 if you want to buy Monero (XMR) from eToro or the leading crypto exchanges.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Litecoin (LTC)

Google engineer, Charlie Lee, founded Litecoin in 2011. He quickly created a credible cryptocurrency with the idea of Litecoin (LTC) being compared silver to the gold of Bitcoin. Litecoin generates faster blocks than Bitcoin with reasonable confirmation times.

Litecoin (LTC) set out to create fast, low cost and secure payments. Although the price of altcoin has held steady, with healthy gains of 50% over the last year, other cryptos have emerged in the top 20 altcoins with equally as fast or lower-cost transactions.

Why buy Litecoin (LTC)?

Litecoin (LTC) has been around for almost eleven years. You may not see rapid or significant gains from your investment, but the likelihood of the wild swings of other more volatile altcoins is less likely from this established altcoin.

Litecoin (LTC) ranks at #15 of listed cryptocurrencies, and you can buy LTC for around $208 from all of the major crypto exchanges and eToro.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

8. Avalanche (AVAX)

The Avalanche network is relatively new compared to many of the 9 best altcoins to buy in 2022. But, AVAX, the native token, has made spectacular progress in a year.

This altcoin is the #11 listed crypto at a price of under $117.

Though the altcoin is at the higher price end of the 9 altcoins to buy in 2022, the potential growth and scalability for Avalanche (AVAX) are considerable.

The Avalanche network is a unique blockchain as it has three subchains. Its incredible transaction speed of up to 4,500 tps sets it apart from other blockchains. Bitcoin, for instance, is a minuscule 7tps.

You can stake Avalanche (AVAX) and earn rewards on most crypto exchanges

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

9. Solana (SOL)

Solana (SOL) is another relatively new altcoin making significant progress.

Launched by the Solana Foundation in March 2020, the Solana network provides DeFi solutions via blockchain technology and wants to make decentralised finance available to the masses on a larger scale.

What makes Solana (SOL) unique is a hybrid consensus model. The proof of history (PoH) consensus improves scalability by combining it with a proof of stake (PoS) consensus.

Solana appeals to institutional investors and traders alike. For a small investor, the current price of SOL is $206. Yes, other coins on the list of 9 altcoins to buy in 2022 are less expensive, but Solana (SOL) could be an altcoin to hold for the future.

Solana (SOL) ranks at #5 of listed cryptocurrencies, a staggering achievement in less than two years.

You can buy Solana (SOL) at eToro and all leading cryptocurrency exchanges.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Recap Of 9 Of The Best Altcoins To Buy In 2022

As more altcoins launch every week, it can be challenging to know the best altcoins to buy. We've highlighted 9 of the best altcoins to buy in 2022, and these are some of the most popular cryptos. Some of the altcoins have exceptional utility with innovative technology, and others captured the attention of crypto enthusiasts and investors by clever branding and social networks.

Take the time to do your research before buying altcoins. Find the best crypto tokens to suit your budget and only invest what you can afford to lose. Open a secure crypto wallet and determine how long you want to hold your crypto investments.

Be prepared for market swings when your crypto holdings might lose value. Try not to panic and hold your nerve. The crypto market is volatile, but just because the price of your altcoins may fall below what you paid, it doesn't mean you have lost your money. A day, week or month later, your altcoins could be back in profit.

You may also wish to choose altcoins that you can stake and earn interest. Look for altcoins with proof of stake (PoS) consensus mechanisms.

The Best Altcoins To Buy:

  1. Dogecoin (DOGE)
  2. Shiba Inu (SHIB)
  3. Cardano (ADA)
  4. Stellar (XLM)
  5. Polkadot (DOT)
  6. Monero (XMR)
  7. Litecoin (LTC)
  8. Avalanche (AVAX)
  9. Solana (SOL)

Crypto experts predict these 9 altcoins have growth potential. Other cryptos for 2022 may emerge, but the best altcoins to buy right now are on the above list of the top 9 altcoins for 2022.

Please note that the above information is not providing advice on tax, investment, or financial services. We provide the above information without consideration for risk tolerance and a specific investor's financial circumstances.

Trading or investing in financial instruments such as cryptos may not be suitable for all investors. It does involve risk and the possibility of a loss of capital. There are no guarantees for profiting from cryptocurrencies, and it's advisable only to risk what you can comfortably afford to lose.

eToro – The Best Platform To Buy Cryptocurrencies

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

FAQs

Can I become a millionaire from buying crypto?

Nothing is impossible, and many investors have become millionaires from investing in cryptocurrencies. One altcoin on the list of 9 of the best altcoins to buy in 2022 created a billionaire this year. One small investor purchased $3,400 of Shiba Inu (SHIB), which returned $3 billion. Investing in crypto has become a bit like the gold rush. Everyone hopes to buy the crypto that will make them rich. But there are no guarantees. Shiba Inu (SHIB) may never see that kind of return again. But, never say never. One of the cryptos on this list of 9 of the best altcoins to buy in 2022 could make you a millionaire in 2022. Of course, only risk what you can comfortably afford to lose and anticipate holding on to your altcoins for a period.

How do I know the best altcoin to buy to suit my budget?

Go back to the list at the beginning of this post and run through the checklist before buying crypto. Some investors develop a "gut feeling" about the potential success of crypto, but it pays to apply logic in the first instance. A few very inexpensive altcoins are on this list, but that doesn't automatically mean they are the best investment for your needs. Weigh up the pros and cons of buying altcoins and get to know as much as possible about the crypto before you invest.

How do I keep my altcoins safe?

You need a secure crypto wallet to keep your altcoins safe. Finding the best crypto wallet can be challenging if you are a beginner.

You may find our recent article "The 7 best cryptocurrency wallets" helpful.