The cryptocurrency market has tripled in the last year and is trending because of its performance and investor interest. Some countries have adopted cryptocurrencies as legal digital currencies, and in other countries, cryptocurrencies are illegal. The cap value of the cryptocurrency market has increased from billions to trillions of dollars. Also, it is protected by cryptography.
Cryptocurrencies that can triple your money
Cryptocurrency trading has given a good return on investment in the financial years 2022-21. There are many types of cryptocurrencies, depending on the various aspects. So, where to invest this year? What are the currencies that will give a good return? Read the blog to find out about the promising cryptocurrencies to invest in this year.
Bitcoin is the first cryptocurrency that started the crypto moment worldwide. Bitcoins are not owned or controlled by anyone. They are not operated by central authorities or any bank. Its low processing fees and fast transactions make it stand out in the crypto market.
From 2013 to date, bitcoins have reached new heights. By the end of 2020, Bitcoin traded for twenty thousand dollars per coin. Looking at its performance from 2009 to 2021, it is evident that Bitcoin is trading in a better position and at a better price. One can always consider Bitcoin investment among all other crypto investments.
The transactions of Ethereum are considered faster than bitcoins. Bitcoin and Ethereum have quite a few similarities, but their functions, aims, and applications are poles apart. Ethereum offers security and fraud prevention, which is why it is considered safe and secure. It is more than payment, and it has a great value in financial applications.
The last few years have seen a rise in the price of Ethereum due to its application of expensive NFTs ( Non-Fungible Tokens). It has made a position in the crypto world. In 2018, Ethereum priced one thousand dollars and till December, it reached four thousand dollars. There is a clear rise in the value of Ethereum, and this can be a major reason to invest in it. Apart from increasing value, its blockchain application and uniqueness in DeFi ( Decentralized Financed) can be an excellent decision to invest in here.
Avalanche is the eleventh largest cryptocurrency by market capitalization. It has the most of the chance of tripling its value this year. Also, It is a smart contract-driven blockchain that offers incredible speed and compatibility.
According to Gov. Captal’s and CoinPrice Forecast, this year will be more bullish for the AVAX. It is expected that it will reach 309$ and 305$ by December 2022. It will continue to grow, and the bullish sentiment will continue.
Binance Coin (BNB)
Binance is considered the most traded cryptocurrency in daily trading. Binance coin has seen a lot of changes in pricing. In December 2021, the Binance coin reached $623, which was its highest value.
The coin is on the list of every investor to invest this year. Binance coin is predicted to be growing higher as the demand for Binance products has been on the rise. There is also an increase in its transactions. The number of projects on the Binance Smart Chain is growing rapidly. These few factors will help it grow more in 2022.
Just like Ethereum, Cardona has made its position in the crypto world. It was made to overcome a few limitations that Ethereum has. The developers of Cardona were so confident that it would be a new change in the crypto world. Cardona prices were increased from February to December. It is predicted that it will make its way into the crypto market this year.
Many experts believe that crypto investment provides a better return as compared to traditional investment. If you are planning to invest in cryptocurrency or are new to the trading industry, we recommend you take the advice of experts before investing. There are risks involved with the investment. Therefore, always invest with information and guidance.
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