In recent years, technology has led cryptocurrencies to explode in popularity. What is more, financial analysts and experts expect them to continue growing and they believe that by 2025 there could be 1 billion Bitcoin wallets in the entire world. Some professionals even expect the prices of cryptocurrencies to rise up to $1 million by 2024.
Hundred of people have already invested in Bitcoin or some other cryptocurrency, but those who haven’t seem to be confused about how they can get involved in this kind of investment. Since there are plenty of cryptocurrencies, there are plenty of trading platforms and most beginners are confused with the whole process, prices, trading, etc. If you feel the same, here is a short guide on which cryptos to watch this year and in the future, which may end up being the right investment.
If you are new to this market, you should understand, that even though it is the most popular and the first one, Bitcoin is not the only cryptocurrency out there. It is the best-known one, and it is definitely the most expensive crypto, but there are hundreds more. Many other currencies are available at lower and more affordable prices, and they still do use the same technology and are poised for growth.
Also, you should be aware of trading platforms, and you should research them. Not every platform is made the same and they do not all feature the same cryptocurrencies. Also, their rules may differ, as well as their fees, sign-up processes, security, etc. As a beginner, you should spend a lot of time researching all this before you decide to make an investment, and a good choice for a beginner may be a fully-automated platform, such as Bitcoin Motion.
With all that being said, let’s see what are the most popular cryptocurrencies today, and which everyone should watch in 2022 and the future.
After Bitcoin, Ethereum has the second-largest market capitalization. It stands for about $500 billion which makes this market an important rival to the most popular coin. What is more, Ethereum is the only serious competitor to Bitcoin that may even surpass it due to its widespread use with decentralized apps. It is currently trading at $4,700 and the barrier to invest in this crypto is still high, but it is worth it since the growth potential is promising.
Many analysts believe that Solana will boom in the next year. In 2021, it experienced a tremendous surge and with that, Solana became a significant rival to Ethereum. In that period, from August to September, this coin’s value jumped from $30 to more than $200, which is an increase of more than 560%. What is more, this coin recently introduced its smart contracts technology which is significantly increasing its growth. Also, Solana has an extremely efficient blockchain that processes all transactions quickly.
One of the reasons why Cardano is popular is because of its sustainable approach to ‘mining’. Cardano uses the same technology that was popularized by Bitcoin and Ethereum and built upon it to produce the coins with much less energy and they made transactions faster. Since this coin uses a measured approach it means that it has evolved slower than its competitors, but experts still advise watching this coin. The experts believe its price will increase due to its smart contracts technology from the fall of 2021, just like is the case with Solana.
Polkadot coin brought something different to the market. Many consider it as an alternative coin that is creating a network to connect all blockchains and integrate many different ones together. Many investors are intrigued by the appearance of Polkadot as this goal and idea are ambitious and quite useful. However, the ultimate goal of this coin is to power the next stage of the internet – Web 3.0. If they managed to accomplish this, Polkadot will provide better security and privacy-enhancing features which may make this new phase of the web indispensable.
Provided you can afford it, the good old Bitcoin is still a worthy investment. Bitcoin is often regarded as volatile because it has many drops and rises in prices, but it still continues to rise. Even though this coin comes at a higher price, many experts still consider investing in this coin an intelligent bet for any long-term holding. Some even predict that Bitcoin will reach $250,000 by the end of 2022.
Just like with any other investment, you should do the research and speak with experts or someone more experienced before you take any big steps. There are people who can help you and guide you on this topic, but investment in cryptocurrencies has shown to be a good decision so far.