Several altcoins experienced record-breaking price increases throughout 2022, and many emerged from relative obscurity to join the ranks of top-tier crypto projects.
As we move into the second half of 2022, many investors are wondering which altcoins will build on the momentum they established last year and provide even better returns in the years ahead.
What is Altcoin?
The term “altcoin” refers to an “alternative cryptocurrency (coin)“. It describes all cryptocurrencies except Bitcoin. The majority of them are intended to be an alternative to Bitcoin or to offer something that the primary cryptocurrency does not. The truth is that each of them represents at least one aspect of Bitcoin technology.
Some altcoins implement new consensus algorithms, while others strive to improve transaction processing, scalability, speed, token distribution methods, and so on. Even though the cryptocurrency industry is still in its early stages, tens of thousands of altcoins have already been created.
How do investors decide which are the top ten best altcoins to buy in 2022?
In reality, no one knows what the cryptocurrency market’s future holds, but in the following article, we’ve compiled a list of top altcoins that we believe have a good chance of moving in a positive direction in the coming months or years.
Here’s the list of the best Altcoins to Invest in 2022
CARDANO (ADA):
Cardano on-chain has a 71.7 percent stake in June 2022. This indicates that many users are HODLing the tokens.
Proof-of-stake blockchains use significantly less energy than proof-of-work blockchains because an algorithm selects only one device in the decentralized network to verify each block of transactions, rather than having every device compete every time.
STREAMCOIN (STRM):
StreamCoin (STRM) is a Binance Smart Chain governance token. It makes use of the Proof of Stake Authority (PoSA) consensus algorithm, which is a cross between Delegated Proof of Stake and Proof of Authority. On February 1st, StreamCoin launched its initial public offering (ICO) for $0.9.
StreamCoin Altcoin operates on its Mainnet while remaining cross-chain compatible with other blockchains. It is designed to power the ecosystem of live streaming platforms by introducing novel and innovative features.
DECENTRALAND (MANA):
The first metaverse project is Decentraland (mana). And this could explain why big off-chain brands looking to set up shop in this virtual world have oversubscribed all of the valuable plots of land. JP Morgan, Coca-Cola, Samsung, and Forever 21 are among them.
Aside from the brands, the Metaverse has been expanding its user base and community of supporters. Decentraland, for example, reported an average of 300k active monthly users by the end of 2021. Investor interest in the altcoin has also been on the rise, as evidenced by an increase in the number of wallets holding MANA and rising trade volumes.
CRONOS (CRO):
Cronos (CRO) is the native cryptocurrency token of Cronos Chain, a decentralized, open-source blockchain created by the payment, trading, and financial services company Crypto.com.
Cronos Chain is one of the solutions provided by Crypto.com to aid in the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data, and safeguarding users’ identities. The CRO blockchain is the primary driver of the Crypto.com mobile payments app.
THE SANDBOX (SAND):
The Sandbox crypto is one of the best altcoins to buy in 2022. The Sandbox is one of the most intriguing projects in the Metaverse, which is set to be one of the buzzwords for blockchain and mainstream tech in the coming years. For those who are unfamiliar, the metaverse is a 3D immersive environment. While these have been around for a few years, they are expected to become increasingly important in the coming years.
RIPPLE (XRP):
When Ripple first appeared, the majority of analysts and investors believed it posed the greatest threat to Bitcoin’s dominance. It was dubbed the “ultimate Bitcoin-killer” by some. It was quickly adopted by financial institutions around the world because it has the potential to replace and revolutionize cross-border payments.
SHIBA INU (SHIB):
Shiba Inu has steadily expanded its offering and now provides a far more comprehensive ecosystem than its predecessor. It has a decent staking program, which includes additional tokens like LEASH and BONE, which can also unlock additional rewards.
GALA GAMES (GALA):
Gala Games wants to change the gaming industry by giving players back control over their games. Gala Games’ mission is to create “blockchain games that people will want to play.” The project’s goal is to change the fact that players can spend hundreds of dollars on in-game assets and countless hours playing the game only to have them removed with the click of a button.
DOGECOIN (DOGE):
What began as a lighthearted meme currency quickly evolved into a crypto asset. Dogecoin was launched in late 2013 with blockchain technology derived from Litecoin and a Shiba Inu dog logo. The coin is known for its amusing origins and limitless supply, making it an appealing entry point into cryptocurrency for new investors.
SMOOTH LOVE POTION (SLP):
Playing the Axie Infinity game grants you Smooth Love Potion (SLP) tokens. This digital asset can be used in place of experience points. SLP are ERC-20 tokens that can be used to create new digital pets known as Axies. It can only be bred seven times, and the seventh breed costs 2,100 SLP. This limit exists to prevent market hyperinflation.
Now, How to invest in Altcoin?
Investing in top Altcoins is very simple through Carret. The most secured crypto trading platform in India.
Step 1: Determine the proportion of your cryptocurrency portfolio that is dedicated to altcoins.
Step 2: Conduct research to determine the best altcoin to invest in 2022.
Step 3: Get Carret, a safe cryptocurrency exchange platform in India.
Step 4: Using a bank transfer, purchase the top Altcoins listed in Carret.
Step 5: Use the HODL strategy to earn up to 17% APY on your crypto holdings.
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Conclusion:
We’ve compiled a list of the top ten best altcoins to buy on the market today, as well as those we believe, are a worthy addition to any crypto investment strategy in 2022.
Each token has been included based on its use case, viability, and the project’s current standing in the crypto sphere. Each has also demonstrated its ability to enter significant bull markets and provide investors with reasonable returns.
We noted early on that, while altcoin projects use some of the most advanced blockchain technology and have the potential to revolutionize industries ranging from finance to gaming, it’s never a good idea to dismiss Bitcoin. It is still the market leader and the standard against which all other tokens are measured.
As previously stated, this is far from a comprehensive list. There are thousands of tokens in circulation, and the value of any one of them could skyrocket in the coming years. As a result, we recommend that potential investors conduct market research, focusing on the top twenty cryptocurrencies by market capitalization, to get a sense of what else is available.