Cryptocurrency

Top 10 Crypto to Invest in 2022

Most of us get confused wondering which one is the crypto to invest in given the fact that there are thousands out there. But which one is worth investing in could be a tough call for anyone who hasn’t dealt much with virtual digital assets also called crypto VDAs. 

If you have received DMs from various crypto communities to participate in their private sale or to trade on a certain platform, do not fall for it. To make your savings turn into a potential wealth-making machine from crypto it is vital to go past these tempting investment options because they may or may not fly at all. Crypto is certainly volatile in nature but can do thorough research before investing your hard-earned money in crypto. If you are new to the segment it is better to look for blue-chip crypto projects than to explore degens in crypto. 

Following are the Top Cryptos to Invest in 2022

Token Name Current Price ATH ATL Market Cap
Bitcoin

(BTC)

INR 19,39,000.02  $69,045.00 $19,313.00 $377,824,256,694
Ethereum

(ETH)

INR 1,35,235.99  $4,878.26 $0.432979 $130,377,847,972
Binance coin

(BUSD)

INR INR 84.93  $634.39 $332.03 $36,895,523,964
Ripple (XRP) INR 31.06  $3.40 $0.002686 $15,331,451,693
Cardano

(ADA)

INR 42.94  $3.09 $0.019253 $14,434,066,994
Uniswap (UNI) INR 680.00 $44.92 $1.03 $4,152,653,567
Dogecoin (DOGE) INR 5.6865 $0.7376 $0.00008547  $8,307,964,884
Avalanche (AVAX) INR 1,948.40 $144.96 $2.80 $4,977,404,697
Matic (MATIC) INR 74.448  $2.92 $0.003144 $4,491,243,605
Tron (TRX) INR 5.78  $0.3004 $0.001091 $5,882,866,097

*All prices are latest by 04:00 pm , 02  August  2022. Source: Coinmarketcap, CoinDCX 

What is Bitcoin (BTC)?   

Bitcoin is a digital virtual asset that runs on peer-to-peer blockchain technology. The asset is deemed as a revolution in the world of finance. Bitcoin uses blockchain to run transactions that are peer shared making it a well known decentralized network to carry out financial transactions without any intermediaries or third parties. 

Who is the founder of Bitcoin?

A pseudonymous individual bearing the name ‘Satoshi Nakamoto’ is believed to be the founder of Bitcoin. It is believed that Satoshi had a team working with him, but nothing has been officially established till date. Nakamoto’s Bitcoin whitepaper is the only document with his name on it. 

A small excerpt from his paper:

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution”.

What is the use case of Bitcoin?

Bitcoin is built to replace the traditional finance or transactions system where a third party is required to validate the exchange of assets. Bitcoin has successfully established itself as a financial system for the exchange of virtual assets. The asset has been widely adopted across the globe. El Salvador, U.S.A and a few other countries have already regulated Bitcoin and have included it in their financial system. Some businesses have in fact started accepting BTC as payments. Bitcoin’s first use case was recorded on May 22, 2010, when Laszlo Hanyecz paid 10,000 bitcoins for two pizzas from Papa John. BTC was valued at $ 44 back then. 

Also Read: How to Get Started with Investing in Bitcoin?

What is the consensus method of Bitcoin? 

The consensus mechanism in blockchain is a fault tolerance system designed to make the ledger technology safe and tamper-proof. Bitcoin works on the ‘Proof of Work’ consensus mechanism that requires high computational power to solve arbitrary problems to keep the network secure. In this consensus mechanism, miners compete to mine a block. The first to solve the challenge gets to mine the block and earn a reward. 

Also Read: How Can I invest in Bitcoin in India?

What are the characteristics of Bitcoin? Recent advancements or upgrades of Bitcoin’s blockchain technology

Bitcoin is a virtual asset that can be transferred from one person to another. It was invented in 2008 and went public in 2009. The total supply of Bitcoin is 21,000,000 and the circulating supply is 18,925,000 (latest by 04:30 pm, 13 July 2022.) 

The first hard fork was called Bitcoin XT in 2014 by Mike Hearn. The hard fork was carried out to increase the TPS and to enlarge the block size of the blockchain. A soft fork was created later in 2016 called SegWit also called Segregated Witness. Pieter Wuille, core developer recommended changing the format of Bitcoin transaction format to allow for more transactions to be added within a block. It solved the slow TPS of Bitcoin.

The most recent Taproot Upgrade of Bitcoin was done to further decrease issues with the speed of transactions. 

What is Ethereum (ETH)? 

Ethereum is an open-source layer 1 blockchain. It is the first blockchain to design a smart contract functionality. The blockchain was built to optimise the potential of distributed ledger technology. Ethereum’s smart contract has its own programming language ‘Solidity’. The blockchain is the most popular amongst developers and has been preferred for DeFi and Smart Contracts deployment. 

Also Read: Top Cryptos other than Bitcoin

Who is the founder of Ethereum? 

Ethereum was founded by Vitalik Buterin, Anthony Di Iorio, Charles Hoskinson, Mihai Alisie and Amir Chetrit. Vitalik Buterin a former programmer and founder of Bitcoin Magazine was the core founder of the technology. He argued with the developers of Bitcoin on the functionality of Blockchain to stay limited to asset movement alone. He believed that to develop business on the blockchain through decentralized applications a robust language needs to be developed. 

Also Read: What are Altcoins?

What is the use case of Ethereum? 

Ethereum is majorly leveraged to build dApps. The use cases spreads across the following categories

  • Decentralized Finance (DeFi)
  • Decentralized Autonomous Organizations
  • Decentralized Applications (dApps)
  • Voting protocols 
  • Decentralized and secure cloud solutions 
  • Entrepreneurial Applications across sectors like supply chain and health care

Also Read: Ethereum vs Solana vs Polygon

Platforms built on Ethereum Blockchain 

  • Decentralized Finance: Aave and Compound are the most popular DeFi platforms built on Ethereum blockchain.
  • Decentralized Autonomous Organizations: ‘MakerDAO’ is the most popular DAO built on the Ethereum blockchain. It features the OasisDEX exchange, investment products, and the DAI stablecoin. Another unique DAO built on Ethereum is ‘Aragon’ that removes the need of intermediaries for forming and managing organizations.
  • Decentralized Applications (dApps) Livepeer is a open source video infrastructure services for live video broadcasting. It is powered by its native token LPT.
  • Voting protocols: MakerDAO is a fitting example for showing what a blockchain can do for human kind. MakerDAO is a governance system which enables the community to put their thought forward. Members can vote for a cause through the governance system that is powered by DAI the stablecoin of Maker.

Also Read: Top Ethereum NFT Projects to Watch out

The upcoming Ethereum 2.0 upgrade 

Ethereum’s upcoming 2.0 upgrade which will merge from ‘Proof of Work’ to ‘Proof of Stake’. Ethereum’s upgrade is the most awaited event in the blockchain dominion. The upgrade is named ‘Eth2’ and is also referred as Serenity sometimes. ‘Eth1’ is the ‘execution layer’, which handles transactions and execution and ‘Eth2′ is the ‘consensus layer’, which handles ‘proof-of-stake’ consensus.  With Ethereum’s 2.0 upgrade due, ETH makes the contender under the top cryptos to invest in 2022 index. 

Also Read: Top Ethereum Projects by Total Value Locked (TVL)

What are the characteristics of Ethereum? Recent advancements or upgrades of Ethereum’s blockchain technology

Ethereum was originally a ‘Proof of Work’ blockchain. With its upcoming upgrade the blockchain will merge to ‘Proof of Stake’ consensus mechanism using ‘Sharding’ as a method of staking ETH. The total supply of Eth is 112 mn. The circulating supply is 121,542,702.31 ETH (Recorded on 14th July 6:30 IST) Total Value Locked of Ethereum is $33.03b (Source: DefiLama). 

Also Read: Bitcoin vs Ethereum

What is Binance coin (BNB)? 

Binance coin works on a mint and burn model to reduce the total supply of BNB. BNB powers the BNB Chain ecosystem. Binance coin (BNB) is the exchange token of the Binance crypto exchange. It was launched originally on the Ethereum blockchain but later migrated to the Binance Smart Chain, now called BNB Chain.

Also Read: Binance Coin Technical Analysis

Who is the founder of Binance coin? 

Binance coin is the native token of the Binance crypto exchange platform. Binance crypto exchange was founded by Changpeng Zhao. 

What is the use case of Binance coin? 

Binance coin was released as a utility token. Later, the BNB token was adopted by web3 platforms to make payments. Every quarter, Binance exchange uses one-fifth of its profits to repurchase and “burn” Binance coins held in its treasury. BNB is used to make payments for hotel bookings, virtual merchandise purchases and to pay for subscriptions of Bittorrent, Canva and Storm. Some NFT exchanges also accept BNB as a payment method. 

Also Read: Top 5 Binance Blockchain Tokens and Applications

What is Ripple (XRP)? 

Ripple is a remittance focused distributed ledger network created by Ripple Labs Inc headquartered in the USA. The XRP/ XRPL (L stands for ledger) XRP is a real time transaction settlement system, a medium of asset exchange offering high scalability at great speed and low costs. XRP is the native token of the blockchain. 

Also Read: Binance Coin (BNB) vs Ripple (XRP)

Who are the founders of Ripple? 

In 2012, David Schwartz, Jed McCaleb and Arthur Britto launched the XRP Ledger. It is  a faster, energy-efficient alternative to the Bitcoin blockchain. In September that year, along with Chris Larsen, they founded the company that is today known as Ripple. Ripple uses XRP as its asset. Ripple is the blockchain while XRP is an independent open-source digital asset. 

Also Read: 10 Top Cryptos Under $1 to Watch Out

What is the consensus mechanism of Ripple? 

Ripple relies on a common shared ledger, which is a distributed database storing information about all Ripple accounts. The Ripple Protocol consensus algorithm (RPCA) is applied by all peers on the network to maintain transparency and trust within the network.

What is the use case of Ripple?

Ripple is well suited for finance applications that offer faster settlements, no downtime and most of all less transaction costs. The XRP Ledger presents a wide variety of use cases – micropayments, DeFi and now with Ducati and Lotus Motors partnerships Ripple has joined the NFT realm too. Ripple’s major users leverage the cross-border payments feature for their businesses. Mercury FX, Siam Commercial Bank and transferGO to name a few. 

Also Read: How to invest in Ripple?

Characteristics of Ripple

  • According to sources, Ripple locked 800 mn XRP in an escrow. The organization later withdrew 100 mn XRP for operating and settling payments across the globe. 
  • The XRP Ledger is decentralized, run by a global network of 150+ validators. 
  • XRP transaction fees cost $0.0002 per transaction on average.
  • The market cap of Ripple is $15,170,213,584 while the total supply of the asset in the market is $ ​​99,989,535,142.
  • On-Demand Liquidity enables RippleNet customers to leverage the digital asset XRP to bridge two currencies in three seconds, ensuring payments are quickly sent and received in local currency. 

What is Cardano (ADA)? 

Cardano is a third generation blockchain technology that works on a peer review basis making it a feasible ‘Proof of Stake’ decentralized blockchain. The blockchain is been built in five stages namely, Foundation, Decentralization, Smart-Contracts, Scaling & Governance. After Ethereum, Cardano is regarded as a potential blockchain that can offer better features than ‘Proof of Work’ blockchains. 

Also Read: What is Cardano (ADA)?

Who are the founders of Cardano? 

Charles Hoskinson is the founder of Cardano blockchain. He is also one of the co-founders of the Ethereum blockchain alongside Vitalik Buterin. IOHK was the organization behind Cardano’s development. Hoskinson is the CEO of IOHK. EMURGO and IOHK are the blockchain engineering and research arms of Cardano. After Buterin’s exit, Charles founded the IOHK that primarily takes care of the development. 

Also Read: Cardano vs Ethereum

What are the use cases of Cardano?

Cardano is a ‘Proof of Stake’ blockchain and is the first blockchain to run on peer review. Cardano has been applied in a few notable sectors like Government, Enterprises, Retail, Agriculture and Finance. 

  • Atala PRISM is a KYC solution built on Cardano. Identity verification is crucial for many sectors including finance. Atala PRISM makes identity verification seamless with blockchain technology to deliver a one-click user experience.
  • Atala SCAN (IOHK), EMURGO Solution – a product of Cardano that helps mitigate the problems of medicine counterfeit by authenticating  and verifying the origin and supply chain of pharmaceutical products,

Also Read: How to invest in Cardano?

What is Uniswap (UNI)? 

Uniswap is a decentralized crypto exchange platform built on the Ethereum blockchain. The platform is often regarded as an Automated Market Maker although Uniswap is a DEX- decentralized exchange. It aims to offer liquidity within the crypto market and seamless crypto trading experience for users across the globe. 

Also Read: UniSwap Fundamental Analysis

Who are the founders of Uniswap? 

Hayden Adams founded Uniswap on November 2, 2018. He is a former mechanical engineer. 

What is the use case of Uniswap?

The first version of Uniswap was released as an Automated Market Maker to understand the reception of decentralization of crypto assets and how automation of finance would perform within the real world. The decentralized exchange offers easy crypto trading for its users. The DEX also has its own governance token ‘UNI’. Uniswap moulded its platform as an independent entity with the offering of the governance token and to make the platform sustainable for its ecosystem. Uniswap aims to offer solutions that are difficult for centralized traditional finance systems to design. 

Also Read: Uniswap Technical Analysis

Developments and Upgrades in Uniswap

Uniswap V2 launched on November 2, 2018, and introduced new features like ERC-20 pairs, price oracles, flash swaps and more. The latest version — Uniswap V3, launched on the mainnet on May 5, 2021. It features greater capital efficiency for liquidity providers, better execution for traders and enhanced infrastructure.

Also Read: Top 5 DeFi Tokens

What is Dogecoin (DOGE)? 

Dogecoin (DOGE) is a popular meme coin created for better adoption of crypto assets. The asset is called the crypto of the internet. It was invented to primarily make fun of BTC but it went on to become viral on the internet and attracted the attention of netizens.  Dogecoin is a ‘Proof of Work’ crypto project. It works on the Scrypt algorithm which makes the mining process of DOGE faster than other proof of work crypto projects.

Also Read: Dogecoin Technical Analysis

Who Are the Founders Of Dogecoin?

Dogecoin was co-founded by software engineers Billy Markus and Jackson Palmer. Markus designed Dogecoin’s protocol by closely studying Luckycoin and Litecoin. Jackson Palmer exited the Dogecoin community in 2015. 

Also Read: What is Dogecoin? How to Buy in Dogecoin in India?

What is the use case of Dogecoin (DOGE)? 

Dogecoin is majorly used as a payment method across many content creator platforms like Reddit and Twitch for rewarding content creators for producing quality content. 

Elon Musk has been an ardent supporter of DOGE and also included it as an online payment method for merchandise purchase of Tesla. He also announced that his transport enterprise The Boring Company will accept DOGE payments method from individuals commuting through Las Vegas Loop. 

Also Read: Bitcoin vs Dogecoin

What is Avalanche?

AVAX is the native token of the Avalanche blockchain. Avalanche is a layer 1 blockchain that offers developers to build their custom blockchain. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Avalanche aims to solve the blockchain trilemma that was put forth by Vitalik Buterin, founder of Ethereum blockchain. Avalanche’s three chains work in tandem to solve challenges of scalability, low throrughput and isolation from multi chain connection. AVAX is the native token that powers the Avalanche blockchain. 

Also Read: Avalanche (AVAX) Technical Analysis

Who are the founders of Avalanche?

Avalanche was founded by Emin Gün Sirer, Kevin Sekniqi and Maofan “Ted” Yin. It is registered under the name ‘Ava Labs’. Gün Sirer is an adept cryptographer. He designed a peer-to-peer technology 6 years after Bitcoin’s launch. He closely worked on scaling Bitcoin’s blockchain technology. 

Also Read: Top 10 Cryptos Under $100 Cryptos to Watch Out

The project closed a seed round in February 2019 including investors like Polychain, Andreessen Horowitz and Balaji Srinivasan. Avalanche closed its ICO in 2020 in 24 hours and raised $ 42 million. 

What is the use case of Avalanche? 

Avalanche use cases are spread across Art, Culture, DAO, Ecosystem, Gaming and Marketplace NFT. CryptoSeals is an NFT collection launched on the Avalanche network. Imperium Empires, Ascenders, Crabada are some gaming projects on the network. Avalaunch, Avaware, Baguette and Barnbridge are some DeFi projects on the network. 

What is Polygon (MATIC)?

Polygon is a layer 2 blockchain built on top of Ethereum. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. The platform aims to create “Ethereum’s internet of blockchains”.

The platform is designed to support a wide variety of different blockchain scaling mechanisms, including Matic Plasma, zk Rollups, Optimistic Rollups, and Validum Chains — all of which are designed to multiply the transaction throughput of associated blockchains without compromising on security or user experience

Also Read: Ethereum vs Solana vs Polygon

Who are the founders of Polygon? 

Jaynti Kanani is the CEO of Polygon. He was a full stack developer.  Sandeep Nailwal the co-founder of the network is a programmer and entrepreneur. Anurag Arjun, and Mihailo Bjelic are the co-founders of Polygon Network. 

The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum.

Also Read: Polygon Technical Analysis

What is the use case of Polygon

Polygon has over 1000 dApps within its ecosystem. NFT marketplaces, DAOs, Games and centralized crypto exchanges are built on the network. Some notable platforms are OKex, Biconomy – a  relayer protocol, Sushiswap and Animoca brands – the brand that manages The Sandbox metaverse. 

Also Read: What is Polygon(MATIC)?

What are the characteristics of Polygon? Recent advancements or upgrades of Polygon blockchain. 

  • Polygon is an EVM-compatible blockchain which makes it easy for Ethereum developers to build on top of the network. 
  • Polygon works on a Proof of Stake consensus mechanism which optimises the network fees in comparison to Proof of Work blockchains that require high gas fees. 
  • Polygon announced the much-anticipated London Hard Fork and Ethereum Improvement Proposal (EIP) 1559 upgrade to go live on mainnet on January 18, 2022.

Also Read: Cardano vs Polygon

What is Tron (TRX)?

TRON is a decentralized blockchain launched in 2017. Originally TRX tokens were ERC-20-based tokens deployed on the  Ethereum network , but a year later TRX tokens were moved to their independent network. 

Also Read: Top 5 Projects on Tron Blockchain

What is the use case of the TRX? 

TRX is well received in DeFi industries such as gaming, finance, and  platforms that are focused on making content creators’ experience better. Tron Legend, an online game, proved that Tron could be used as the base for MMORPGs. Tron’s use cases are CryptoMegaPolis – a gaming dApp on Tron blockchain, APENFT, Iswap and JustMoneySwap. 

Also Read: Top 5 Tron Tokens and its Applications

Who is the founder of TRX token? 

The Tron blockchain was developed by the Tron foundation. TRON was founded by Justin Sun – an alumni of University of Pennsylvania.

What makes TRX crypto the choice for investors? 

  • Unlike other crypto assets, USDC has managed to keep up with its Stablecoin requirements. 
  • To maintain transparency, a top accounting firm is allied to USDC for verification of the USD reserves against the stablecoin.
  • Circle and Coinbase have obtained regulatory compliance of the asset that has helped in expanding USDC’s adoption globally. 

Also Read: Ethereum Vs Tron

How to invest in Cryptos in India?

The ideal way to invest in crypto assets in India is by signing up on a crypto investment app like CoinDCX. All one has to do is sign up, complete the KYC, add bank details, deposit INR and start investing. 

  • Download the CoinDCX app from the play store or App store
  • Complete your KYC
  • Add bank account details
  • Deposit INR
  • Start investing in your choice of crypto assets 

 


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

 

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