Top 7 Altcoins To Buy In 2022

Last Updated May 17th 2022
8 Min Read

WHAT ARE THE BEST CRYPTOCURRENCIES TO BUY THIS YEAR?

The number of new crypto coins is booming all the time. It seems that every time you search on google, a new coin has launched, with a brand new range of projects and developments. If you are interested in crypto investment, this is good news, as it means you have more choice than ever before. Check out our reviews of the best cryptocurrencies to buy in 2022.

Best Crypto Coins To Buy In 2022

Ethereum (ETH)

Ethereum makes one of the best altcoins you can buy in 2022. Ethereum is the largest altcoin by market capitalization. It was founded during the early days of the cryptocurrency market, and over time, it has grown to become one of the most popular cryptocurrencies. 

Ethereum has become a preferable crypto investment to retail investors and institutional investors. Many believe that the token can serve as a store of value due to the increased use case of its blockchain network. 

The Ethereum blockchain network supports smart contracts. It is currently the largest network for decentralized finance (DeFi). The increasing use of the network for DeFi has boosted the utility for ETH, allowing the token to derive its value from not only market trends but also from developers who want to build DeFi projects on Ethereum. 

In 2022, Ethereum developers are expected to roll out a series of upgrades to make the Ethereum network more scalable. Ethereum is shifting to Eth 2.0, which will boost the network’s speeds and lower the gas fees. This upgrade has been eagerly awaited by the Ethereum community, and there is a high chance that it will raise ETH prices.

Read Also: Ethereum Price Predictions

Cardano (ADA)

The other top altcoin to invest in 2022 is Cardano. Like Ethereum, Cardano is also an old blockchain network. However, the main development on this network happened in 2021, after the Alonzo hard fork upgrade brought smart contracts to the Cardano network. 

By having smart contracts, Cardano can now support DeFi projects. DeFi projects are already building on the Cardano network, which has increased the network’s total value locked (TVL).

The smart contracts on Cardano can boost ADA utilization, which could play a role in raising the token’s prices. Cardano’s smart contract capability was only unveiled in September last year; hence there is room for continued growth. This sheds a positive light on the price gains ADA could make in 2022. 

The Cardano blockchain is also expected to roll out the Hydra upgrade to boost the scalability of the network by enabling it to support more DeFi projects. The founder of Cardano, Charles Hoskinson, has been at the forefront of any development to do with Cardano. Hoskinson’s dedication to the Cardano blockchain could be why ADA ranks as a top ten cryptocurrency by market capitalization.

Check Out: Cardano Price Predictions

Polkadot (DOT)

Polkadot also makes for a good cryptocurrency to buy in 2022. Polkadot was founded to solve the issue of scalability in the blockchain sector. by focusing on increasing network speeds and lowering transaction fees, Polkadot has earned its title as a potential Ethereum killer.

Last year, Polkadot rolled out the parachains auction that allowed DeFi projects to book for parachain slots to allow them to operate on a parallel chain to Polkadot’s relay chain. This allows the network to be scalable as it removes congestions from the main network but allows the parallel blockchains to have a high level of security. 

Polkadot was founded by one of Ethereum’s co-founders, who left the latter network after having contrasting opinions. Gavin Wood founded Polkadot to solve the issues present on the Ethereum network. 

Besides boosting scalability, Polkadot has also focused on interoperability. This allows communication between blockchain networks. Interoperability is a crucial feature as it can allow developers building on Polkadot to leverage the potential of other blockchains.

Don't Miss: Polkadot Price Predictions

Ripple (XRP)

XRP is also a considerable investment for 2022. XRP is the native token for the Ripple blockchain. The Ripple blockchain seeks to facilitate faster transactions in payment processes. 

XRP has a strong use case because of the potential of Ripple’s blockchain. Over the years, Ripple has partnered with some of the leading payment remittance firms that want to tap into the potential of blockchain technology. Ripple has positioned itself as a go-to solution for traditional financial institutions that want to integrate blockchain in their operations. 

In 2021, there was a record interest in blockchain and cryptocurrencies by payment remittance companies, and this trend is expected to increase in 2022. As such, Ripple could secure more partnerships in 2022 to contribute to the increased utility of XRP tokens. The increased demand for speed and efficiency in cross-border payments could also see Ripple secure a major share of the global payments network.

Ripple is also set to benefit from the development of central bank digital currencies (CBDCs) by governments worldwide. CBDCs are digital currencies developed and controlled by central banks. Ripple has previously stated that its network can be the bridge between CBDCs. Ripple has been selected as part of the team researching a digital pound for the UK. 

Read More: Ripple Price Predictions

Solana (SOL)

Solana is also a good crypto to buy and trade in 2022. It was created last year, but in such a short time, it has become popular and even attracted the interest of retail and institutional investors. 

The strength of the Solana blockchain lies in its scalability. While networks such as Ethereum deal with slow speeds and high gas fees, Solana has stepped in to offer both speed and affordability to the developers building on the network. The network claims to process over 60,000 transactions per second, a remarkable feature for developers who want to leverage such potential. 

Solana has gained adoption from DeFi developers. It now stands as one of the largest blockchains in terms of TVL. Its fast adoption rate has made it a potential Ethereum killer, with many believing that it could surpass Ethereum’s market cap in the future. In 2021, SOL’s price made major gains, and it moved to the top-ten crypto market ranking in just a short while.

Solana runs through a proof-of-history consensus. This consensus is behind the network’s high speeds, which is believed to be a more advanced consensus than proof-of-work and proof-of-stake. 

Check Out: Solana Price Predictions

Avalanche (AVAX)

Avalanche is also a popular cryptocurrency and one of the best altcoins to invest in 2022. Like Solana, Avalanche is new in the market. However, its developers have solved the issues plaguing older networks. These issues include speed and cost. Avalanche stands as one of the cheapest networks for developers to build their projects.

As a scalable network, Avalanche has also been praised for its potential to replace Ethereum in the cryptocurrency market. Avalanche ranks as one of the largest blockchain networks in terms of TVL. The growth of the network has been attributed to an influx of developers. Last year, one of the projects on Ethereum migrated to Avalanche because of the high speeds and high speeds.

The DeFi sector is expected to grow significantly in 2022. As developers look for networks that will solve their needs, Avalanche will be positioned for a higher level of adoption.

Read More: Avalanche Price Predictions

Litecoin (LTC)

Litecoin is also known as the digital silver because of its unique position in facilitating cryptocurrency payments. Litecoin’s use as a means of digital payment has been facilitated by the network’s high speeds.

Litecoin is one of the oldest cryptocurrencies in the market, but its relevance has remained. As the world shifts towards crypto payments due to speed, security and privacy, Litecoin is uniquely positioned to become one of the most utilized tokens.

Litecoin was developed in 2011, just two years after Bitcoin’s release. It has a large following of investors and the community that believe in its potential.

 Don't Miss: Litecoin Price Predictions

Features To Consider When Choosing Cryptos To Buy In 2022

Before investing in any coin in 2022, you need to consider the following factors: 

  • Adoption 

The first thing to consider is the level of adoption of the underlying blockchain. If the underlying blockchain has increased utility, there is the potential of the native token to make gains in the future.

  • Market cap

You should also consider market capitalization. The altcoins listed above have high market caps and rank as some of the largest cryptocurrencies in the market. Having a high market cap shows the token has a large following. 

  • Regulations 

The global crypto regulatory framework has changed significantly over the years. If you want to invest in an altcoin, ensure that it does not have regulatory wrangles. 

  • Performance 

You should also evaluate the performance of a token over the years. This will give you an overview of what you should expect in the future in terms of price movements.

Conclusion

Altcoins are a great way to diversify your crypto investment portfolio. There are thousands of altcoins in the cryptocurrency market, and selecting the one that meets your needs can be a tricky thing. When investing in altcoins, ensure that you assess factors such as adoption, performance, regulations and market cap to know if they are safe investments.

eToro – The Best Platform To Buy Cryptocurrencies

etoro broker

Virtual currencies are highly volatile. Your capital is at risk.

Read More:

7 Cryptocurrencies That Could Be Great Investments In 2022

10 Cryptocurrencies To Explode Between 2022 And 2025

7 Best New Cryptocurrencies To Buy This Year

Top 5 Crypto Predictions For This Year

The 10 Most Profitable Cryptocurrencies To Buy This Year

What Is The Next Big Cryptocurrency? Top 9 Most Potential Cryptocurrencies