Ten Affordable Cryptocurrencies to Invest in 2022
The cryptocurrency market has exploded over the past year, as more people are gaining interest in digital currencies like Bitcoin and Ethereum. Many people are now asking how they can start investing in cryptocurrencies, but they don’t know where to start. These ten affordable cryptocurrencies can help you get started with digital currency investment without breaking the bank!
Ethereum (ETH)
If you’re looking for a blockchain platform, Ethereum is likely your best bet. It has hundreds of apps, thousands of tokens and billions of dollars worth of code; it might be safe to say it’s going places. The easiest way to invest in ETH is on an exchange—and there are plenty out there, including popular options like Coinbase or Gemini. But if you want exposure without actually having to buy coins, consider purchasing a Blockchain-based ETF like Reality Shares Nasdaq NexGen Economy (BLCN). This particular fund invests in blockchain enabled companies, and while most don’t have ties directly with cryptocurrency, they are typically run by leaders that take security seriously and are as good a bet as any when it comes down to it.
Stellar (XLM)
Stellar is an open-source protocol for exchanging money. It acts as a connection between fiat currencies and can facilitate cross-border transactions quickly and cheaply. The platform is public, decentralized, and non-profit, which ensures there are no hidden fees when you exchange currency. This is achieved through its digital token, stellar lumens (XLM). If all of that sounds appealing, there’s a catch: Stellar currently supports only bitcoin and U.S. dollars; additional currencies will be added over time.
IOTA (MIOTA)
Next year, IOTA will be built into smart devices (the Internet of Things), allowing machines to communicate and pay each other with microtransactions. For example, a car might pay a parking meter using IOTA. The big question is whether it will be able to scale up enough before then: while it has great technology, its value depends on being used by all of these future smart devices which are still hypothetical and could easily fall through. Then again, when so many experts can’t agree on what cryptocurrency will take off, maybe throwing your chips on everything is a good plan…
Litecoin (LTC)
Litecoin is one of those cryptocurrencies that’s managed to keep its value stable, rather than falling dramatically like most other coins. People are suggesting that it could be a really solid investment for 2022; it’s got some decent benefits over bitcoin and Ethereum, namely that transactions take less time (2.5 minutes vs 10 minutes), and cost significantly less (around $0.30 per transaction vs $1). If you’re not sure where you want to invest but want something with stability, Litecoin could be a good option.
Monero (XMR)
Monero is one of today’s most valuable and profitable cryptocurrencies. Its website suggests that it can help make a secure, private and untraceable digital currency. Monero certainly seems attractive because it offers something completely different from its competitors: privacy. It seems as though many people are becoming increasingly wary of their online security, and are beginning to take action by investing in cryptocurrencies like Monero. Monero also provides faster transactions and lower fees than many other cryptocurrency options; they recently updated their codebase with bulletproofs, which makes transactions even more secure and seamless. (Source: What is Monero? Coincentral, July 17, 2018.)
NEM (XEM)
NEM is a cryptocurrency launched in 2015 by a group of developers. Its features include multi-signature accounts, customizable assets, encrypted messaging, and an Eigentrust++ reputation system. Although there is no maximum supply for XEM, about 8 billion tokens were created when it was first mined (in 2014). The platform uses POI (Proof of Importance) to determine which accounts receive rewards for processing transactions and maintaining its blockchain. NEM’s primary purpose is managing data and messages on its decentralized network rather than facilitating direct purchases/sales of goods and services; as such, most XEM tokens are traded on exchanges at a value unrelated to any particular good or service available through NEM.
NEO (NEO/GAS pairings)
Often referred to as China’s Ethereum, NEO is a smart contract platform that has gained considerable traction since its inception. Although not on track for mass adoption just yet, NEO allows individuals and companies alike to register and issue digital assets easily through its Digital Assets Offering (DAO) mechanism. This allows people and organizations of any kind to use NEO tokens in many different ways, such as voting or crowdfunding purposes. Over time, NEO can be expected to gain more utility value as more applications are developed using it. As an early investment option into the industry, owning some NEO might be a worthwhile bet.
Nano (NANO/XRB pairings, formerly Raiblocks.)
Raiblocks, formally known as RaiBlocks, is one of the most affordable currencies on cryptocurrency exchanges. With a supply of 133 million units, each individual Nano coin is worth less than half a penny USD. However, some investors are speculating that it will rise up to 15 cents each in 5 years due to its strong community and steady development. As such, now may be a good time for cryptocurrency investors who want exposure but don’t have thousands of dollars (or more) available.
QTUM (QTUM/QTUM pairings.)
In May 2017, QTUM successfully launched its mainnet and raised $15 million from numerous investors including a blockchain alliance with 9 other leading projects. Since then, QTUM has been working on improving their mainnet technology with an updated version of their virtual machine, allowing apps developed on Ethereum’s platform (like our next pick) to run on Qtum’s infrastructure. In addition, QTUM plans to roll out staking functionality for nodes that will run as smart contracts on its platform. If you missed out during QTUM’s initial coin offering (ICO), there is still time for you to buy into their token—but it could be worth holding off until they release more information about their roadmap and future partnerships.
Ripple (XRP.)
A relatively new cryptocurrency that’s already been adopted by multiple companies, including UBS. At $0.22 per coin, it’s a great deal—and I see it gaining value in 2018 and beyond as businesses continue to adopt it. If you invested early (before January) you could be sitting on $1000 or more for every $100 you spent. By 2022, I could see it easily topping $10 per coin. What is Ripple? Read my full post here: The Complete Guide To Ripple (XRP).