Top 10 cheap cryptocurrencies to buy in 2022
As we slowly move into 2022 it becomes important to know which the cryptos to look out for are. Cryptocurrency has become the buzzword today and speculative investors cannot wait to grab a slice of the crypto pie. Earlier, cryptos were considered to be fringe investments; today, even the CNBC mentions the Bitcoin on a daily basis and displays a ticker showing its current price. The truth is there are many cheaper cryptos you can think of investing in besides the Bitcoin. Each of these is unique and it is best to ask your financial advisor before investing.
- Dogecoin has started off as a meme coin but now that people are profiting from it, the coin has suddenly become very real. It remains cheap because you can buy it for about $0.26 but the existing price is almost 4889% higher than its value in early 2021. This coin caught much attention following Elon Musk’s tweets about it.
- XRP, created by Ripple Lab, refers to an open-source crypto using XRP ledger, an open-source distributed ledger. Ripple is a blockchain firm facilitating global transactions. XRP has been designed for payment purposes and can ensure faster and more reliable transactions at low costs.
- Chainlink (LINK) is an Ethereum token powering the decentralized Chainlink oracle network. This connects to outside data sources, payment systems, and APIs securely. Chainlink supports real world data to increase the power of smart contracts and offers advantages of blockchain, including reliability and security.
- Cardano (ADA) continues to be one of the cheapest cryptos for eager investors in 2022. The coin has recorded an impressive 1076% gain ever since early 2021. This blockchain platform is founded on a Proof-of-Stake protocol that validates transactions without steep energy costs. Developers believe that Cardano’s decentralized network can ensure sustainable scalability without affecting security.
- USD Coin (USDC) is a stable coin with its prices being tied to the USD. It is far more stable compared to other cryptos and you get to earn interest when you loan USD coins through Aave, a decentralized platform. Coinbase and Circle jointly manage the USDC.
- Stellar (XLM) uses Stellar Lumen as the native currency on the Stellar payment network. Anyone can use this network but it was mainly designed for the purpose of connecting financial institutions that made large transactions. Value of Stellar Lumens has been on the rise.
- Polkadot (DOT) is the token that is offered through the Polkadot network. Developers state that this token is meant for offering governance for this network, for running it, and creating parachains. The coin is affordable and one can buy it for less than $47 per token.
- Tether (USDT) is a token of Ethereum network pegged to the USD value. It ranks amongst the most affordable cryptos today and can be a good choice for investors as 2022 comes up.
- Decentraland (MANA) is the token supporting the Ethereum-based virtual reality game called Decentraland. Here, users can buy land for developing and monetizing content; they can purchase goods and services or go to other properties. Decentraland has been steadily rising, recording an increase of 3696% since early 2021.
- Shiba Inu (SHIB) originated as a meme, but in spite of its unusual origin, this coin has a $29.44 billion market cap. This dog-themed crypto is one of the most popular new cryptos mainly because of the strong community of developers.