Top 10 Non-Bitcoin Cryptocurrencies to Buy for Good Returns
With the integration of blockchain technology, the highly volatile cryptocurrency market, including both bitcoins and non-bitcoin cryptocurrencies, is expanding exponentially throughout the global financial world. For crypto investors, the increasing frequency with which new cryptocurrencies are accepted is overwhelming. Top cryptocurrencies continue to hold their positions among thousands of other cryptocurrencies. However, when it comes to cryptocurrency, Bitcoin is the first thing that comes to mind.
Aside from bitcoins, there are approximately a thousand other types of digital money created with the assistance of various software development services. There are a plethora of altcoins that are performing admirably. According to the most recent count, there are over 6,500 cryptocurrencies. Of course, not all of them are equally desirable, just as not all currencies in the real world are on equal footing.
Investors considering entering the crypto-verse must decide whether to buy a large quantity of one currency, divide their funds between two different cryptocurrencies, or participate in the movement of multiple currencies.
There is no one-size-fits-all formula, and deciding which cryptocurrencies to invest in differs depending on one person’s risk tolerance versus another’s.
Specific cryptocurrencies, for example, are better suited to particular needs, such as those of investors, application developers, day traders, and so on. A better understanding of currencies will give you a better chance of succeeding.
Take a look at the top ten non-Bitcoin cryptocurrencies to invest in for good returns in 2022.
Binance Coin (BNB)
The growth of the Binance Exchange platform is critical to the future of BNB. Based on the current situation, Binance Coin’s future appears bright, with prices potentially reaching new highs. As a result, according to the BNB price prediction, the BNB price may cross US$610 by the end of 2023. As a result, it is one of the best non-Bitcoin cryptocurrencies to invest in before 2022 to become wealthy.
Ethereum is the most well-known altcoin, and for many investors and enthusiasts, it is much more than just another cryptocurrency. According to experts, it could increase in value by up to 400% by 2022. Ether (ETH), Ethereum’s native token, has skyrocketed in value since its inception.
Ripple XRP is a member of the rapidly expanding cryptocurrency universe, which has seen remarkable growth in fortunes over the last year – and continues to make headlines. Ripple’s digital token is called XRP. Ripple is a company that specializes in cross-border payments for banks and other financial institutions. Ripple and XRP transactions are processed in less than five seconds, thanks to blockchain technology.
XRP’s consensus protocol allows it to process transactions in seconds at a low cost and with minimal energy. As a result, it is one of the more eco-friendly cryptocurrencies.
It is a third-generation cryptocurrency. Its characteristics offer the best of both first-generation and second-generation cryptos, such as Bitcoin and Ethereum. It employs Proof of Stake (PoS) rather than Proof of Work (PoW), which increases its sustainability when compared to other cryptosystems. Cardano is a cryptocurrency that experts recommend investing in.
Terra Terra (LUNA)
It provides numerous advantages to the market. It is ideal for the digital economy due to its decentralized and permissionless nature. The network provides competitive programmable payments, logistics, and an infrastructure designed to simplify the development of Dapps and stable coins.
Since its inception in the cryptocurrency market, Elon Musk, a well-known entrepreneur, has popularised this cryptocurrency known as Dogecoin. Decentraland is the next best cryptocurrency to invest in 2022, according to our list. Through its MetaVerse-like gaming platform, this project provides a 3D virtual world. Users can not only create characters and communicate with other players, but they can also buy land and construct real estate.
On the open market, some real estate holdings on Decentraland have sold for more than $1 million. Decentraland does, of course, have its cryptocurrency token, MANA. Over the last year, the value of this crypto asset has increased by over 1,400%. However, Elon Musk is the Dogecoin influencer—his cryptic tweets control the cryptocurrency’s price fluctuations. It was unexpected for investors to regard Dogecoin as a serious cryptocurrency despite its status as a meme coin.
The SHIB price is now $0.00002, which means that a $50 investment would get you over 2.5 million tokens. As a result, Shiba Inu is not only one of the best-performing crypto assets on the market but also one of the cheapest.
Shiba Inu rose to prominence in 2021, achieving some of the highest gains ever seen in the cryptocurrency space. Indeed, since the inception of this popular cryptocurrency in August 2020, the token has exploded to become a multi-billion dollar top-20 digital asset by market capitalization.
Avalanche is one of the few blockchains that can scale while remaining decentralized. Its interoperability with numerous blockchains is limitless. Avalanche blockchains use different consensus algorithms depending on the use case, and the network has more validators than other networks. It is one of the best non-Bitcoin cryptocurrencies to invest in for good returns in 2022.
While nothing can replace conducting your research, we will discuss the competitive advantages of eight of the top currencies that have had a promising year so far.
As the oldest cryptocurrency that has survived for over a decade, it continues to dominate and gain ground against other cryptocurrencies. Because many businesses already accept bitcoin as payment, this cryptocurrency is a wise investment. Visa, for example, accepts bitcoin transactions. Larger banks are also beginning to include bitcoin transactions in their offerings.
The value of bitcoin fluctuates a lot. During any given month, the price can fluctuate by thousands of dollars. If wild fluctuations like these make you nervous, you should stay away from bitcoin. Otherwise, as long as you remember that cryptocurrency could be a good long-term investment, these fluctuations should not be too concerning.
The price of bitcoin is another reason to reconsider investing in it. With a single bitcoin costing nearly $43,000, most people are unable to purchase entire bitcoins. This is a disadvantage for investors who want to avoid purchasing a fraction of a bitcoin. It has largely fallen into the category of a long-term investment.
It uses many of the lessons learned by cryptocurrencies over the last decade, with advantages that could help it dominate the landscape. It interacts well with others, costs less to transact, and moves at a faster rate, which is the developing crypto finance sector’s dream.
Beginners wondering which cryptocurrency to buy in 2022 should probably stick with Bitcoin, the largest cryptocurrency. Bitcoin has reached all-time highs of $69,000 per token, implying a market capitalization of more than a trillion dollars.
Bitcoin fell below $40,000 in early 2022. This means you can now purchase this cryptocurrency asset at a reduced price. In terms of where
Bitcoin can go, some market commentators believe it could reach $100,000 by the end of 2022, implying that buying bitcoin in the UK remains a viable option.
Cryptoassets are an unregulated, highly volatile investment product. There is no investor protection in the UK or the EU. Your money is in jeopardy. Furthermore, when trading CFDs with this provider, 68 per cent of retail investor accounts lose money. It would help if you thought about whether you can afford the high risk of losing your money.
Edited by Prakriti Arora