The world of cryptocurrency blew up in 2021 and many are expecting that trend to continue throughout 2022 as well. A lot of complete novices are making their first investments in crypto this year, while many more are considering taking their first steps.
It has become clear that cryptocurrencies are here to stay, so the number of people investing in them is only going in one direction. But with every cryptocurrency differing in price, demand, availability, transaction speed and so much more, what are the best cryptocurrencies to invest in for newcomers?
For beginners, it might be a good idea to stick with what’s popular, so we’ve got a quick rundown of some of the most well-known and invested-in cryptocurrencies.
Bitcoin is undoubtedly the most well-known crypto and it is the original of the bunch after its 2009 creation. As it runs on blockchain, it’s a safe and secure form of cryptocurrency.
Behind Bitcoin, Ethereum is the second largest crypto out there and has grown a lot since its 2015 launch. Its big selling point is that its transaction speeds are faster than Bitcoin and it aims to have a global internet in which applications can be built securely and anonymously by anybody. It has the backing of a number of big businesses.
Litcoin launched in 2011 as a faster and more efficient Bitcoin, which explains the name. Similarly to Bitcoin, it has a specific coin limit of 84 million, which is more than Bitcoin’s 21 million.
Dogecoin isn’t quite as prominent as it was in the past, but it is still attracting a lot of investors. Unlike Bitcoin and Litecoin, Dogecoin has no limits regarding going supply. Elon Musk is a big investor.
Tether is a very stable coin, making it somewhat unusual in the crypto world. Stable coins have the backing of fiat currencies, meaning that they have the same value as those currencies (such as the Euro or US Dollar).