When you’re just starting in the world of cryptocurrency, the dozens of different cryptocurrencies, from Bitcoin and Ethereum to Dogecoin and Tether, might be intimidating. To help you gain your bearings, these are the top ten cryptocurrencies with the biggest growth potential or the total value of all coins currently in circulation.
Top Cryptocurrencies with the Most Potential for Growth:
Bitcoin (BTC)Ethereum (ETH)Tether (USDT)U.S. Dollar Coin (USDC)Binance Coin (BNB)XRP (XRP)Cardano (ADA)Binance USD (BUSD)Solana (SOL)Dogecoin (DOGE)
Which Are The Best Cryptocurrencies?
The best cryptocurrencies in 2022 aren’t just currencies; they’re also native assets for some of the most intriguing organizations and projects in the financial industry. Both Mark Cuban and Andreessen Horowitz are major fans of cryptocurrencies, particularly decentralized finance (DeFi) investments, which have been popular this year. Here are some of the top VC-backed cryptocurrencies to invest in 2021.
1. Bitcoin (BTC)Bitcoin (BTC) is the first cryptocurrency, created by Satoshi Nakamoto in 2009.BTC, like the majority of cryptocurrencies, is built on a blockchain, which is a distributed ledger that tracks transactions over a network of thousands of computers. Because modifications to the distributed ledgers must be authenticated by solving a cryptographic puzzle, a process known as proof of work, Bitcoin remains secret and secure against fraudsters.
Bitcoin’s value has soared as it has grown in popularity. A single Bitcoin cost roughly $500 in May 2016. A single Bitcoin was worth roughly $29,700 on June 1, 2022. That’s an increase of more than 5,800%.
2. Ethereum (ETH)Because of its potential uses, such as smart contracts that run automatically when conditions are fulfilled and non-fungible tokens, Ethereum is a favorite of programmers as both a cryptocurrency and a blockchain platform (NFTs).
The Ethereum network is used to create the majority of non-fungible tokens (NFTs). As a result, an inflow of NFT purchasers might raise Ether’s price. Ethereum is used to buy and sell NFTs; the more investors that want to buy NFTs, the higher the demand for ETH.
Ethereum has also exploded in popularity. Its price increased by over 16,300 percent from April 2016 to the beginning of June 2022, from around $11 to over $1,800.
3. Tether (USDT)Tether (USDT) is a stablecoin, meaning it is backed by fiat currencies such as the US dollar and the Euro and has the same theoretical value as one of those denominations. Tether’s value is meant to be more stable than that of other cryptocurrencies, which is why it is popular among investors who are concerned about the extreme volatility of other coins.
4. U.S. Dollar Coin (USDC)USD Coin (USDC), like Tether, is a stablecoin that is backed by US dollars and aims for a 1 USD to 1 USDC ratio. USDC is a cryptocurrency based on Ethereum that may be used to conduct international transactions.
5. Binance Coin (BNB)Binance Coin (BNB) is a cryptocurrency that may be used to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. Binance Coin has evolved beyond just completing transactions on Binance’s trading platform since its launch in 2017. It may now be used for trading, payment processing, and even arranging travel arrangements. It may also be exchanged for other cryptocurrencies such as Ethereum or Bitcoin.
The price of BNB in 2017 was only $0.10. Its value had risen to approximately $300 by early June 2022, representing an increase of roughly 300,000 percent.
6. XRP (XRP)XRP, a digital technology and payment processing corporation developed by some of the same individuals as Ripple, may be used on that network to facilitate the exchange of many different currencies, including fiat currencies and major cryptocurrencies.
XRP was worth $0.006 at the start of 2017. By June 1, 2022, its price had risen by more than 6,400%, hitting $0.40.
7. Cardano (ADA)Cardano (ADA), a latecomer to the crypto realm, is well-known for pioneering the use of proof-of-stake validation. This technique minimizes transaction time, energy usage, and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in systems such as Bitcoin. Cardano, like Ethereum, allows smart contracts and decentralized apps through the usage of ADA, its native coin.
Cardano’s ADA coin has developed slowly in compared to other notable crypto currencies. In 2017, the price of ADA was $0.02. As of June 1, 2022, its current price is $0.55. This is a 2,650% increase.
8. Binance USD (BUSD)Binance USD (BUSD) is a stablecoin developed by Paxos and Binance to produce a cryptocurrency backed by the US dollar. To maintain this value, Paxos holds a quantity of US dollars equivalent to the whole supply of BUSD. BUSD, like other stablecoins, enables traders and crypto consumers to transact with other crypto assets while mitigating the risk of price volatility.
9. Solana (SOL)One of Ethereum’s key competitors, Solana, has seen exponential growth in 2021 and is one of the cryptocurrencies with biggest growth potential. Solana has climbed from a low of $1 in the year before 2021 to about $100. Solana is one of the largest decentralized financial blockchains, with billions of dollars in cryptocurrencies stored on its blockchain. Many investors are flocking to Solana’s blockchain for both NFTs and DeFi.
To perform transactions quickly and securely, Solana offers a hybrid proof-of-stake and proof-of-history approach. It was developed to aid in the powering of decentralized finance (DeFi), decentralized apps (DApps), and smart contracts. The platform is powered by SOL, Solana’s native coin.
When SOL was introduced in 2020, its price was $0.77. By early June 2022, its value had risen to roughly $40.58, a gain of more than 5,100%.
10. Dogecoin (DOGE)Dogecoin originated as a joke in 2013, but thanks to a dedicated community and clever memes, it soon blossomed into a major cryptocurrency. There is no limit to the number of Dogecoins that may be issued, unlike many other cryptocurrencies, rendering the currency subject to devaluation as supply expands.
Dogecoin’s price in 2017 was $0.0002. Its price had climbed 40,000 percent to $0.08 on June 1, 2022.
What is The Best Cryptocurrency to Buy in June 2022?
The best new cryptocurrency to buy in right now is DeFi Coin (DEFC). While the rest of the crypto market has been falling, this currency has soared more than 500% in response to news that DeFi Swap, the platform behind DeFi Coin, has finally launched its long-awaited crypto exchange.
DeFi Currency may now be obtained by swapping it for another coin. DeFi Swap also serves as a DeFi staking platform, with APY rates ranging from 30% to 75% when you stake DeFi Coin. You must lock in your DeFi Coin for 360 days to get the greatest rate.
DeFi Coin, in particular, is meant to encourage long-term investment. A 10% fee is applied to every DeFi Coin sale, incentivizing investors to hang on even as the price climbs.
10 Cryptocurrencies with The Biggest Growth Potential to Buy Right Now- Final Thoughts
The development of cryptocurrencies and decentralized financial solutions is still in its early stages. If you’re new to cryptocurrencies, it could be wiser to start with a small amount of risk capital and build a portfolio of prominent cryptocurrencies. Initial coin offerings (ICOs) can be alluring, especially given their steep rises. A sharp decline in value after the ICO is almost as common.
More established currencies, as opposed to newly minted cryptocurrencies, help to reduce volatility and provide greater liquidity. It’s crucial to know where you can trade a cryptocurrency and how big the market is for that coin.
Many early investors have learned that there is no practical way to get out of their investments. If cryptocurrencies are here to stay, there are likely to be some incredibly great opportunities among the most widely traded currencies, while also avoiding risk from abandoned projects or a lack of liquidity.