The year 2021 saw an impressive performance by cryptocurrencies, with the digital currency almost tripling by the year-end. The digital currency, which showed unprecedented growth in a matter of about thirteen years, is always a lucrative option for most investors, especially those who are not much averse to risks.
However, with inflation playing a pivotal role in driving the financial market down, even the most prominent cryptocurrencies dived down. Despite that, you can’t deny the importance of investing in crypto, especially when the trade analysts estimate it could grow exponentially further to around a billion wallets of bitcoin or BTC.
Due to these reasons and more, it would be worth analyzing what type of crypto to invest in the year ahead, possibly using the best trading app in India.
As far as altcoins are concerned, Lucky Block proves to be one of the best investments. Investing in Lucky Block is like playing a lottery game with the only difference that it uses blockchain and is free of state interference. It’s far better than the traditional lottery system in that it makes the process transparent and cuts short the draw time. In the case of this altcoin, a part of the total fees is back. Besides, as its scant supply diminishes, its price tends to increase.
As we are all well aware, BTC or Bitcoin is the most prominent crypto due to its stability in value compared to other currencies. Bitcoin is one crypto that can trust not to go down so much as altcoins, even in gloomy times. Therefore, it continues to rule over other cryptos and is estimated to reach anywhere around $100,000 towards the end of 2022.
Ethereum is another principal cryptocurrency to watch for since its value tends to exceed even that of Bitcoin at times. It offers an opportunity for developers to make and execute smart contracts. In addition, these contracts are a way for striking agreements with the help of code. The beauty of Ethereum is that it has witnessed a tremendous rise of more than 22,000% in the last few years.
Shiba Inu is one of the cheapest and best cryptocurrencies in 2022. The crypto, launched only last year, saw over a thousand percent rise within a month. The crypto saw an exponential increase mainly due to its hype on social media. Its market capitalization is such that it has ascended to the rank of a multi-billion dollar financial asset.
Dogecoin is one of the low-cost cryptocurrencies which took shape in 2013. However, after the eminent Elon Musk raved about how investing in this crypto can be significantly beneficial in the long term, it saw a growth of over fourteen thousand percent in the first half of 2021. Therefore, it’s considered a preferable investment for 2022. However, since its value declined during the second half of the year, it can be meager.
Apart from the above digital currencies, many other cryptos are available. Some of them might be as good an investment option as the above. However, it is prudent to analyze the market trend and seek the advice of an expert before investing.