Bitcoin has been a trendsetter in the crypto market for a long time. It is the world’s largest cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
But a single Bitcoin may be out of your reach.
Does this mean that you cannot buy cryptocurrency?
There are thousands of cryptocurrencies circulating in the crypto market other than Bitcoin. You can choose any of these cryptocurrencies to invest your money in.
However, not all cryptocurrencies ensure positive returns, and you may get frustrated within a brief time.
So, let us find out which cryptocurrencies other than Bitcoin are the best that you can buy in 2022.
What is Cryptocurrency?
Cryptocurrency is the hottest trend in the global financial markets.
Everyone is talking about buying crypto. But investors recommend that you should possess ample knowledge of cryptocurrency for successful investing.
Cryptocurrency is a digital currency that has no physical presence. It exists online and operates free from the influence of a bank or government.
The transactions of cryptocurrency are recorded on a public distributed ledger called a blockchain. Secured by cryptography, cryptocurrency is highly safe.
Some of the benefits offered by crypto include:
- Cryptocurrency transactions are quick and have low costs.
- You can send or receive crypto at any time as it is available 24/7.
- Your cryptocurrency is stored either in a digital wallet or a cold wallet that you can take anywhere.
Some Best Cryptocurrencies to Invest in 2022
Today, according to estimations, there are nearly over 18,000 cryptocurrencies in the market. The total market cap of cryptocurrency is around $2.023 trillion.
Is not this staggering?
Carl Runefelt, alias, The Moon, is a global crypto leader who has invested in more than 350 cryptocurrency startups.
He says, “Cryptocurrency is recognized across the world and is not affected by exchange or interest rates. It would also provide individuals living in economically fragile nations more stability and predictability.”
Listed below are some of the popular cryptocurrencies that you can buy.
Launched in 2015, Ethereum is the world’s second-largest cryptocurrency after Bitcoin.
Ethereum has diverse functions, but it is popular for its smart contract aspect.
The value of Ethereum has increased by around 18,000% since 2016. So, it presents a remarkable investment opportunity.
Current Price: $1,902
Market Cap: $226 billion
Tether is a stablecoin which means that its value is tied to a specific asset like the U.S. dollar and Euro.
Tether works like a medium that traders can use to move cryptocurrency between them.
Current Price: $1.00
Market Cap: $72 billion
Cardano is yet another popular cryptocurrency that you can buy in 2022.
Cardano has a proof-of-stake validation method that expedites transaction time and facilitates the verification process.
Carl on his YouTube channel, The Moon, says, “The community around Cardano is building, and there will come a time when it will have smart contracts.”
Current Price: $0.52
Market Cap: $17 billion
Dogecoin is a digital currency that was created after a meme featuring a Shiba Inu dog.
Dogecoin has unlimited issuance, and you can use it for sending money and payments.
Current Price: $0.085
Market Cap: $11 billion
How to Safely Invest in Cryptocurrency?
After reading about all these cryptocurrencies that you can buy other than Bitcoin, you may be thinking about how you can safely invest in them.
Cryptocurrency is extremely volatile, and your returns can fluctuate within seconds.
According to Carl, “To make huge profits from investing in cryptocurrencies, one must carry rigorous market study and notice the factors which affect a particular cryptocurrency.”
Here are some tips that you should follow when buying crypto:
- Devise a sound trade strategy before investing in crypto.
- Read the current trade chart of a particular cryptocurrency that you want to buy.
- Never invest in crypto more than you can easily afford to lose.
- Crypto is a long-term investment. You should avoid making decisions based on short-term changes.
- Never share the ley of your crypto wallet with anyone as risks of fraud is always present in the crypto market.
- Diversify your crypto investment portfolio. This means that you should never invest all your money in one coin as cryptocurrency is volatile.
- Make your decisions in cryptocurrency based on facts and not the crypto market hype.
The world is gradually moving towards the mass adoption of cryptocurrency.
Today, there are more countries in the world with crypto as their official currency than gold.
So, instead of waiting for the right time, you should start investing in cryptocurrency to earn a lot of money in the future.