Buying a cryptocurrency is easy, but buying the right cryptocurrencies without a time-tested strategy is incredibly difficult. So what are the best altcoins to buy now or put on a watchlist? Cardano (ADA), Ethereum (ETH), Polkadot, (DOT), and Uniswap (UNI) are prime candidates.
The term altcoin is simply an abbreviation for an alternative coin - an alternative to Bitcoin. An altcoin is a crypto that is not Bitcoin. So in this article, we will use the terms altcoin and crypto.
Why should you be interested in altcoins? How much money can you make from them? Well, yes, you can make money from investing in crypto assets. However, Not all altcoins are created equal. Many of them will bomb. Some altcoins will explode, and, few of the best altcoins could be the next big thing.
One of these cryptos could be the next Bitcoin.
So, without further ado, let's look at the top 10 cryptocurrencies that will explode in 2022
Top 10 Altcoins To Buy In 2022:
- Cardano (ADA)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Polkadot (DOT)
- Binance Coin (BNB)
- Uniswap (UNI)
- Chainlink (LINK)
- Solana (SOL)
- Terra (LUNA)
- Litecoin (LTC)
Now let’s look at these top altcoins in more detail and check if each coin has the potential to explode this year and beyond. An important consideration is that these cryptocurrencies all boast impressive relative strength.
1. Cardano (ADA)
Cardano, third-generation crypto, founded by Charles Hoskinson – ex co-founder of Ethereum – set out to create disruptive technology intending to become the best crypto platform for smart contracts.
Focused on scalability and innovation, Cardano (ADA) launched with proof of stake (PoS) consensus, the first crypto network to do so.
Cardano supporters can buy a stake in Cardano (ADA) and earn a yearly percentage, payable in ADA tokens. Read how to stake Cardano if you'd like to discover how to generate a passive income from your Cardano (ADA) holdings.
A few weeks ago, Cardano was lolling around at just over a dollar and listed #7 on crypto listed by market cap. A week ago, the market cap for Cardano (ADA) was $67,967,024,125. Before that, a few weeks earlier, the price of ADA almost doubled.
Cardano (ADA) is on fire and is at the top of our list of altcoins that will explode in 2022.
You can check out our feature on Cardano (ADA) what's the best cryptocurrency to buy in 2022.
You heard it here first.
Why invest in Cardano (ADA)?
Cardano (ADA) recently released a paper outlining a possible upgrade to a two-scaling solution, HYDRA.
HYDRA technology will enable a million transactions per second (tps) which could challenge mainstream transaction speeds. Such incredible technology could considerably increase the growth potential for Cardano (ADA).
Therefore, if HYDRA is adopted, Cardano (ADA) could explode.
What will the price of Cardano (ADA) be by the end of 2022?
If HYDRA goes ahead, Cardano (ADA) could take the #2 position on the crypto leaderboard.
We predict the price of Cardano (ADA) could potentially double to near $5 by the end of 2022. But don't sell your Cardano (ADA) when it doubles because there is scope for further price hikes in 2023 and beyond.
2. Dogecoin (DOGE)
Dogecoin started as a joke but quickly became a popular peer-to-peer platform for sharing content. The Dogecoin community adopted DOGE, and it was no longer a ridiculous altcoin with no purpose.
Dogecoin (DOGE) lost a little leeway over the last week. Although still at the #12 spot, Dogecoin (DOGE) dropped from a market cap of $43,007,081,094.
This blip is surprising because of the recent announcement of the new leadership team for the Dogecoin Foundation, which includes Elon Musk, CEO of Tesla and Vitalik Buterin, the Ethereum founder.
Elon Musk has been a constant supporter of Dogecoin (DOGE). Rumours suggest Elon bought some DOGE for his infant son.
Vitalik Buterin also occasionally expressed interest in forming a bridge with Dogecoin and Ethereum.
The Dogecoin community is vast and loyal, with a solid belief in the future of Dogecoin (DOGE). Although Dogecoin is a proof of work (PoW) consensus, you can join a Dogecoin community and enjoy DOGE rewards for participating and helping to grow the Dogecoin network.
Why invest in Dogecoin (DOGE)?
It could be a good idea to buy Dogecoin (DOGE) at its current price.
With Elon Musk and Vitalik Buteriun on the board of the Dogecoin Foundation, this collaboration of great crypto minds could create a price boost for DOGE.
What will the price of Dogecoin (DOGE) be by the end of 2022?
Crypto industry experts predict the price of Dogecoin (DOGE) could be just under $0.60 in 2022.
Despite the recent drop in market cap, we believe that Dogecoin could explode in 2022. Once the price of DOGE reaches beyond $0.75, it could gain momentum to get to a dollar.
You can read an in-depth article on the price predictions for Dogecoin (DOGE) for 2022 and beyond.
3. Ethereum (ETH)
Ethereum (ETH) is a decentralised, open-source blockchain that has smart contract functionality.
Ethereum (ETH) is trying to break a price point right now. Market cap has marginally increased over the last few weeks.
The Ethereum network is upgrading to Ethereum 2.0, transitioning from proof of work (PoW) to proof of stake (PoS) consensus.
On completion, transaction speeds for Ethereum will increase to 100,000 tps and enable smart contract technology. You can stake Ethereum right now, but you cannot access your ETH stake or ETH token rewards until the completion of the upgrade in 2022.
Read How to stake Ethereum.
If you'd rather not tie up your ETH holdings, you can still buy ETH and store it without staking.
Why invest in Ethereum (ETH)?
Ethereum is a good choice for investing because, with the completion of ETH2, the upgrade brings significant improvements to the Ethereum Network, which could ramp up the price.
Also, crypto experts predict that Ethereum (ETH) could reach $20,000 by 2025.
What will the price of Ethereum (ETH) be by the end of 2022?
Crypto experts predict that the price for Ethereum (ETH) could cross $10,000 by the end of 2022.
4. Polkadot (DOT)
Polkadot is a unique sharded heterogeneous multi-chain architecture. It enables external networks and layer one "parachains" to communicate, which creates an interconnected internet of blockchains.
The masses may underestimate Polkadot because it is one of a kind. Founded in 2016 by Gavin Wood, Polkadot technology is highly scalable. The Swiss Web3 Foundation supports Polkadot for the development of applications and services.
Why invest in Polkadot (DOT)?
The unique technology and infinite scalability make Polkadot (DOT) an excellent altcoin for investment.
The price of Polkadot is still comparatively low, and the market cap will likely increase.
What will the price of Polkadot (DOT) be by the end of 2022?
Crypto experts predict the price for Polkadot (DOT) could be just over $50 by 2022.
Polkadot (DOT) hasn't progressed from #11 listed crypto, and the market cap has barely moved for several weeks compared to other altcoins in the top ten listed cryptos.
5. Binance Coin (BNB)
Binance is the king of online cryptocurrency exchanges. The BNB token is the currency for many online services transactions such as travel bookings. The price of BNB shot up in the last few weeks, and the market cap increased from $55,210,950,389.
Why Invest in Binance Coin?
Binance Coin could be worth investing in because BNB is one of the most active digital assets in the crypto world, and it continues to maintain its uptrend position.
What will the price of Binance Coin (BNB) be by the end of 2022?
Crypto industry experts predict that Binance (BNB) price could be as high as $915 by the end of 2022.
6. Uniswap (UNI)
Uniswap (UNI) is a protocol that guarantees liquidity for multiple hundreds of applications for Ethereum. It serves an essential purpose, and as demand for guaranteed liquidity increases, the price of UNI will grow.
Uniswap (UNI) lost a little ground over the last few weeks, dropping from the #10 position of listed cryptos. But, the UNI token is still relatively new to the crypto market, launched in 2020. And market cap for Uniswap (UNI) has increased, so Uniswap uptake is still growing.
Why invest in Uniswap (UNI)?
It is worth investing in Uniswap due to a growing demand for trading cryptocurrency, which requires good liquidity. A lack of liquidity when trading altcoins creates more significant risk. So Uniswap has essential utility, which will aid future growth potential.
What will the price of Uniswap (UNI) be by the end of 2022?
Crypto experts predict that Uniswap (UNI) could be just over $88 by the end of the year 2022.
Sergey Nazarov founded Chainlink in 2017. It's a unique blockchain abstraction layer that enables universally connected smart contracts. It enables secure interactions between blockchains via external data feeds, payment methods and other events.
The open-source community is:
- Smart contract developers
- Data providers
- Security auditors
- Node operators
- And many more
Chainlink is the first to permit off-chain data into smart contracts and is a significant player in the data processing field.
Why invest in Chainlink (LINK)?
Chainlink (LINK) has good growth potential because, with such unique and essential technology, Chainlink (LINK) has excellent scalability.
Will Chainlink (LINK) explode in 2022? Possibly.
What will the price of Chainlink (LINK) be by the end of 2022?
Chainlink (LINK) is likely to be over $40 before the end of 2022. If the crypto market heads for another bull run, a price of $45 - $50 is possible for Chainlink (LINK).
Crypto experts predict a price of $48 is possible for Chainlink (LINK) for 2022.
8. Solana (SOL)
Solana provides DeFi solutions. It launched in early 2020, founded by Anatoly Yakovenko. So the SOL token is relatively new to the crypto market. Solana Introduced a hybrid model of proof of history (PoH) consensus combined with a proof of stake (PoS) consensus on the blockchain.
This hybrid model means shorter processing times – think lightning speeds - with decreased validation times for smart contracts and transactions.
Why invest in Solana (SOL)?
Because Solana has infinite scalability, the growth potential is very good. Solana continues to build scalable crypto applications, with currently over 400 listed projects.
Anatoly Yakovenko is highly experienced and will take Solana to the next level.
What will the price of Solana (SOL) be by the end of 2022?
Crypto experts suggest that Solana (SOL) could reach the value of $436 by the end of 2022.
9. Terra (LUNA)
Terra is a blockchain protocol launched in 2019 by the founders' Shin and Do Kwon. It provides stablecoins that are fiat pegged to:
- The U.S Dollar
- South Korean Won
- Mongolian Tugrik
- The International Monetary Fund's Special Drawing Rights basket of currencies
- And more in the pipeline
LUNA provides stability for the price of the Terra protocol's stablecoins. It is unique because it combines the daily price stability of fiat currencies with the benefits of cryptocurrency.
Terra has a clever algorithm that adjusts the supply of stablecoin according to supply and demand. Terra offers LUNA users incentives to swap stablecoins and LUNA at profitable exchange rates as required so that supply and demand are consistent.
Why invest in Terra (LUNA)?
Invest in Terra (LUNA) because of the potential for scalability. Terra (LUNA) serves an essential purpose, for which demand will continue.
Also, Terra has established partnerships with payment platforms, notably in the Asia-Pacific region, including Chai, a mobile payments application used on e-commerce platforms for purchases via the Terra blockchain network.
What will the price of Terra (LUNA) be by the end of 2022?
By the end of 2022, crypto exerts predictions suggest that the price of Terra (LUNA) could reach over $140 in 2022.
10. Litecoin (LTC)
Litecoin (LTC), created by Charlie Lee, a former Google employee and early crypto adopter, was based on the Bitcoin (BTC) protocol. But that's where the similarity ends.
Litecoin (LTC) provides speedy, low-cost, and secure payments. The block time is a mere 2.5 minutes. Transaction fees are low, which makes Litecoin (LTC) great for point-of-sale payments and micro-transactions.
Litecoin (LTC) has grown exponentially since releasing in October 2011. Many merchants now accept Litecoin (LTC).
Why invest in Litecoin (LTC)?
It's worth investing in Litecoin (LTC) because, since January 2021, Litecoin (LTC) has become one of the most widely accepted cryptos. More than 2,000 global merchants accept LTC.
Litecoin (LTC) is cost-efficient and fast. Bitcoin is slow and expensive. These crucial differences mean that Litecoin (LTC) is more likely to be adopted by merchants than Bitcoin, especially in developing countries.
Increased adoption of Litecoin (LTC) ensures longevity and demand, which, as you no doubt know, pushes up prices.
What will the price of Litecoin (LTC) be by the end of 2022?
According to crypto experts, Litecoin (LTC) could cross the $250 mark price by the end of 2022.
If the cryptocurrency market moves into a bull run, the price for Litecoin (LTC) could be over $400 by the end of 2022. Litecoin (LTC) has progressed steadily, so don't expect sudden price increases.
What Makes An Altcoin Good For Investment?
Altcoins are listed by market cap, but there are many factors to consider before buying altcoins. You want to know that the altcoin will likely stick around and not go belly up in a year or two.
There are five pre-purchase checks you can do before investing in altcoins.
- Is the altcoin scalable? – Bitcoin isn't truly scalable. But it was a great teacher for the following cryptos that emerged. If the altcoin isn't scalable, at some point, it may grind to a halt as fourth-generation cryptos springboard ahead with infinite scalability
- Are there loyal followers? – All of the ten listed cryptos have a loyal pack of followers, promoting and supporting the altcoin. When a community believes in a project, it makes a significant difference to the progress of the altcoin.
- How much experience do the founders have? – Most of the listed altcoins have founders with oodles of experience in cryptocurrency networks. They bring their experience to improve functionality, innovation and scalability.
- What is the utility? – is the altcoin helpful? Does the altcoin network provide disruptive technology? Can it improve on mainframe infrastructure, and can other blockchains piggyback on the technology?
- What is the founders' vision? – Do they have a transparent mission, a goal for the future of the altcoin? How do they plan to scale up in the future?
Taking Care Of Your Altcoins
Once you have invested in altcoins, you need a safe place to store them. Never leave your coins on an open exchange because it makes them vulnerable to hackers.
Transfer your altcoins to a secure cryptocurrency wallet and use the maximum security settings. Never disclose your crypto wallet private key to anyone.
Recap Of The Top Altcoins That Will Explode In 2022
Experts believe that some of those altcoins have the potential to explode. Which coin could be the next big thing? It could be Cardano, Ethereum or Dogecoin. Or will it be Polkadot (DOT), Binance Coin (BNB), Uniswap (UNI), Chainlink (LINK), Solana (SOL), Terra (LUNA) or Litecoin (LTC)?
All ten altcoins have the potential to explode this year and beyond.
Remember, it took many years for Bitcoin to gain price momentum, but that historical event has prepared us for another altcoin to create more millionaires.
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.
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.
Are altcoins better than Bitcoin?
There are many disadvantages to buying Bitcoin. It is highly volatile, and the transactions are slow and expensive. For a small purchase, Bitcoin fees could be more than the item you bought. Bitcoin is the first-generation crypto, and thankfully, as new generation altcoins launched, they improved upon the issues that Bitcoin discovered. Many cryptos in the top 10 list of altcoins have faster transaction speeds and lower fees than Bitcoin.
Can you sell cryptocurrency for real money?
When cryptocurrency exchanges popped up online, admittedly, it was challenging to sell your crypto for real money, as in dollars, pounds or whatever denomination of fiat currency you require. But how easy is it to sell cryptocurrency now? Thankfully, crypto exchanges realised that their clients still want real money, and many exchanges now offer transfers from crypto to fiat currency.
Is it legal to sell cryptocurrency?
Yes, with a few exceptions. Suppose you sell crypto considered as a security under state or federal law. In that case, it is constituted as a money transition the same as any financial security, and the assumption is that you are a money service business. Ripple has been in an ongoing battle to prove that XRP is not a security.
Do I have to pay tax on crypto profits?
If you sell your altcoins, yes, the profits are taxable. You need to double check with your government on tax implications for cryptocurrency sales.
What do I need to know before buying cryptocurrency?
Take your time and do your research. Avoid impulse buying altcoins and ignore tips from friends or colleagues. Learn technical analysis so you can analyse if you can buy the altcoin at a better price.
Is cryptocurrency good for beginners?
Cryptos for beginners can be a challenge. If you want to learn about making money from altcoins, learn about the crypto market to understand how and why the altcoin price moves. Buying altcoins without knowledge is like walking blindfolded on a cliff edge. If you want to make money buying and selling crypto, take some time to educate yourself and then study the best altcoins to buy.
Where can I buy altcoins?
There are many online cryptocurrency exchanges, or you can buy crypto from a leading social trading platform, like eToro.
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Virtual currencies are highly volatile. Your capital is at risk.