The Battle Of The Tokens! Bitcoin, Solana And Ethereum

Last Updated April 12th 2022

3 Min Read

Cryptocurrencies have come out as one of the best wealth creators of the past decade. For instance, anyone who made a few strategic investments in crypto at the beginning of 2021 made good money by the end of the year. So, can cryptocurrencies still make you rich, or is it too late?

With all the developments in the cryptocurrency market, it is safe to say that the opportunity is still there for cryptocurrencies to make you rich in 2022 and the coming years. All you need to do is identify cryptocurrencies with the potential and get in while the market is yet to rally again.

This article has compiled a list of three surefire cryptocurrencies that could make you rich once bulls take complete control of the market.

Bitcoin

Bitcoin is the number one cryptocurrency by market capitalization. Bitcoin continues to dominate despite exponential growth in the altcoins market over the last few years.

While it may not have the transaction speeds of many of its newer competitors, Bitcoin continues to grow in adoption faster than other cryptocurrencies. This has a lot to do with its first-mover advantage and the fact that it is one of the safest cryptocurrencies in the market today.

Bitcoin’s safety is linked to its high levels of decentralization. Bitcoin ownership is spread out globally, and the top 100 wallets, popularly known as whales, make up less than 15% of the total Bitcoin holdings. Similarly, Bitcoin mining is now spread out globally, compared to a year ago when China accounted for most miners.

This high level of decentralization means Bitcoin is censorship-resistant and hence a safe asset for anyone. Of course, there is also the fact that Bitcoin is pretty scarce, capped at 21 million coins. Growing adoption, censorship resistance, and scarcity make Bitcoin an accessible high-growth cryptocurrency to buy today.

Don't Miss: Bitcoin (BTC) Price Prediction

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

Ethereum

Ethereum hit the market in 2015 and was the first cryptocurrency to introduce smart contracts. While Bitcoin, created a few years earlier, was designed for payments, Ethereum opened the way for developers to decentralize pretty much any process. Finance is the industry that felt the most of Ethereum’s impact, thanks to the rise of DeFi.

Ethereum’s success has over the past few years created scaling issues that have led to the rise of many supposed “Ethereum Killers.” However, Ethereum has one best developer teams in crypto and has resolved this problem by transitioning from a Proof-of-Work to a Proof-of-Stake blockchain. Once the transition is complete, most Ethereum transactions will move to layer-2 scaling solutions.

Ethereum is also set to become deflationary, a factor that could see Ethereum gain in value faster than it has done in the past.

Check Out: Ethereum (ETH) Price Prediction

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

Solana

Solana is one of the most popular Ethereum competitors that hit the market in 2020. Despite being a relatively new player, Solana has emerged as one of the best performing cryptocurrencies of the last two years.

Solana’s success has a lot to do with its scaling capabilities. Solana uses a consensus mechanism called Proof-of-History, which gives it the capacity to handle up to 50k transactions per second, and at close to no fees, $0.001 per transaction.

These scaling capabilities have, over the past year, triggered an explosion of Dapps on the Solana ecosystem. Solana is now one of the most favored blockchains for NFTs. With NFTs now one of the hottest trends in cryptocurrency, Solana could see a significant price rally in 2022, especially if the market turns bullish again.