Numerous cryptocurrencies are available in the market today ranging from Bitcoin, Ethereum, Dogecoin, to Tether, Cardano, etc. However, this has become confusing for the new traders to find a safe and profitable investment in 2022. Most beginners are interested in short-term investments and gradually move to long-term investments through their profits. But it will be difficult for the investors to study in detail all the cryptocurrencies available in the market before choosing which one to invest in.
Here are the top 10 cryptocurrencies that can be chosen by beginner investors.
- Chainlink
Chainlink offers reliable inputs and outputs and is tamper-proof too for complicated smart contracts on different blockchains. Chainlinks help investors to send and receive payments and to link to the external APIs.
- Algorand
Algorand features an exclusive blockchain consensus mechanism that is better than the conventional proof of stake. They allow to randomly and secretly choose ALGO holder’s small groups to vote on certain proposals and also to suggest blocks.
- Cardano
Cardano has a five-stage roadmap to develop into a decentralized system that is highly self-sustained. They also launched the smart contracts to depend on peer reviews before introducing any latest updates.
- Polkadot
Polkadot integrates all the blockchains used by cryptocurrencies and helps them to work together. This concept has added speed to the growth of Polkadot since it was launched in 2020.
- Dogecoin
Dogecoins was launched in 2013 and has a huge fanbase. It does not have the number of coins that are allowed to be created, which makes them different from the bitcoins.
- Stellar
The low-cost payment services and the amazing transaction speed are the two factors that added to the popularity of Stellar.
- Litecoin
Litecoin is a cryptocurrency that has risen in demand recently and this demand may lead to an increase in price. The innovations of the coin are what makes it popular among investors.
- Aave
Aave is a decentralized Ethereum-built lending platform that allows users to earn income through lending and borrowing cryptocurrencies. Aave also can be held in the form of a cryptocurrency.
- Ethereum
Ethereum is a very popular cryptocurrency and the market value makes it the second-largest cryptocurrency in the world. Its second edition, Ethereum 2.0, which will be launched soon will be focused on increasing the transaction speed.
- Shiba Inu
Shiba Inu is considered to be one of the best options for short-term investments. They can give you decent returns within weeks or months. However, when their price drops, it will be very hard.
Final Thoughts
Several cryptocurrencies are arising every year. However, it is difficult to predict its growth just by its initial performance. But the advanced technologies used in the protocols of each one can be something to expect. Therefore, the newbie cryptocurrencies are trying to fill the gaps their ancestors left behind. The increase in the transaction speed, safety, integration of blockchain networks, easy data sharing, etc is the department new cryptocurrencies are focussing on.