HOW TO CHOOSE CRYPTOCURRENCY IN 2022 TO INVEST
In the first half of 2021, the digital asset market managed to experience strong growth and a prolonged correction. Despite this, many investors believe that investing in the crypto industry today still offers good earning opportunities. Have you always thought about investing in cryptocurrencies? There are even online casinos that accept cryptocurrencies - the Bitcoin casino has many advantages in comparison to normal ones. Anyway, let us take a look at whether investments in cryptocurrencies are profitable or not, and which cryptocurrencies are good to choose from.
Many newcomers are now looking for a way to find the 'next bitcoin', a currency that can multiply the original investment by tens or even hundreds of times. There are now hundreds of alternative cryptocurrencies.
What to consider before investing in cryptocurrencies
However, not all coins are equally promising. We suggest analyzing the digital assets available in the market to determine which ones are worth investing in. The key to effective investment is careful preparation. Here are some recommendations on selecting cryptocurrencies to invest in to help you find the right one: don't ignore the capitalization leaders. The longer a cryptocurrency is at the top, the more supporters it has. In addition, a high level of capitalization keeps the volatility of the coin in check. Having an active product and/or active user base for a crypto project increases the value of its digital asset. It is important to investigate the legality of the cryptocurrency of interest.
It is also necessary to carefully study the rate behavior of the cryptocurrency of interest and its reaction to certain events. It is also a good idea to analyze the views of prominent analysts on the future of digital assets. Which coins are worth paying attention to in 2022? Several cryptocurrencies can be called leaders of investors' choice. We propose to take a closer look at them.
Different cryptocurrencies: an overview
Bitcoin (BTC) is the first cryptocurrency that we consider. Its creator - a certain Satoshi Nakamoto - became the founder of the whole direction of new financial instruments. Because of its long history, many people even associate BTC with the word “cryptocurrency”. Much of the health and behavior of bitcoin, therefore, determines the position of other digital assets.
Ethereum (ETH) is the second most capitalized cryptocurrency. At the moment, the project developers are preparing to improve its technical component - to change the mining algorithms. The changes will make ETH more environmentally friendly and the cryptocurrency faster and more convenient. Against the backdrop of the upcoming upgrades, Ethereum can continue its positive movement. At the moment, ETH is largely under pressure from the negative performance of bitcoin (the capitalization leader). With BTC on the rise, Ethereum will also be able to continue its positive movement.
Cardano (ADA) is a decentralized system that, according to its developers, could surpass Ethereum in the future. Even though Cardano does not offer the highest percentage of earnings from stacking, the positive movement of ADA, on the background of the project team's constant work on its technical improvement, can be a reason to invest in it.
There are many different offers on the market for investors looking to make money from cryptocurrencies. For example, traders who are willing to take a risk for a good profit should consider one of the most popular cryptocurrencies, bitcoin. To find a good cryptocurrency don’t forget about social media. The amount of attention a coin gets on such sites has a strong correlation to its potential price because it is usually the investors themselves who are talking about it.