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Top 10 Best Cryptocurrencies to Invest In 2022  For Beginners According to Google

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Top 10 Best Cryptocurrencies to Invest In 2022  For Beginners According to Google

best cryptocurrencies to invest in

In this article, we discuss the top 10 best cryptocurrencies to invest in for beginners in 2022 according to Google. This article will give detailed information about each cryptocurrency listed and this will help you decide the Best Cryptocurrency to Invest in in 2022

2021 was a breakthrough year for “alternative coins”, a term used to refer to cryptocurrencies that have no link to Bitcoin. We saw institutional adoption of cryptocurrency and bitcoin never reduce in price to zero.

Since the inception of digital currency, cryptocurrency infrastructure has developed enough and gone mainstream for people to invest independently in coins and blockchains with specific purposes without the need for Bitcoin as an intermediary.

This is one vital factor why Bitcoin only returned around 60% last year, while coins like Solana and Terra grew by 11,000% and 12,000% respectively. Other coins like Litecoin and Bitcoin Cash also managed triple-digit returns, with Shiba Inu seeing astronomical increases in price. 

This paradigm shift in the crypto ecosystem from brand name to specific value and protocols represents a turning point for the industry that is still fighting for mainstream recognition. 

However, the rise of non-fungible tokens and DeFi applications also indicates that people are moving away from Ethereum, the second most popular coin, towards alternatives that offer lower fees and better speeds. 

Ethereum is transferring from a proof-of-work to a proof-of-stake consensus mechanism in the coming months that might tilt the market in its favor.

Despite these changes, the prices of cryptocurrencies remain volatile as governments weigh regulations on the industry. For beginners, investments in this sphere can often be boom or bust without verifiable information. 

For investors who do not want direct exposure to digital coins, some of the top investments can be in companies heavily involved in the cryptocurrency like Coinbase, Bitcoininvestmentrex  NVIDIA Corporation (NASDAQ:NVDA), Mastercard Incorporated (NYSE:MA), and Alphabet Inc. (NASDAQ:GOOG). 

What Are Cryptocurrencies?

Before we throw light on some of these alternatives to Bitcoin (BTC), let’s take a deep breath and briefly examine what we mean by terms like cryptocurrency and altcoin, since most readers are likely rookies and not familiar with them. 

A cryptocurrency is defined as virtual or digital money that takes the form of tokens or “coins.” Though some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.

The “crypto” in cryptocurrencies was coined from the complex cryptography field that allows for the creation and processing of digital currencies and their transactions across decentralized systems. 

Alongside this important “crypto” feature is a common pledge to decentralization; cryptocurrencies are typically developed as code by teams who build in mechanisms for issuance, and other controls.

Cryptocurrencies are almost always designed to be free from government manipulation and control—although, as they have grown more popular, this foundational aspect of the industry has come under fire. 

The cryptocurrencies patterned after Bitcoin are collectively called altcoins, and in some cases, shitcoins, weak coins, and have often tried to present themselves as modified or improved versions of Bitcoin. 

Regardless of the fact that some of these currencies may have some impressive features that Bitcoin does not, matching the level of security that Bitcoin’s networks achieve largely has yet to be seen by an altcoin.

Below, we’ll examine some of the most important digital currencies other than Bitcoin. Most importantly, though, a caveat: It is impossible for a list like this in this article to be entirely comprehensive. 

One major factor for this is that there are more than 10,000 cryptocurrencies in existence as of February 2022.

Though many of these cryptocurrencies or altcoins have relatively low to no following or trading volume, some enjoy immense popularity among dedicated communities of backers, investors and are even listed on most centralized exchanges.

In addition, the field of cryptocurrencies is always expanding, and the next great digital token may be released tomorrow. 

Though Bitcoin is widely seen as a pioneer in the world of cryptocurrencies, analysts adopt many approaches for evaluating tokens other than BTC. It’s common, for instance, for analysts to attribute a great deal of importance to ranking coins relative to one another in terms of market capitalization. 

We’ve considered this into our consideration, but there are other reasons why a digital token may be included in the list.

Types of Altcoins

  • Cryptocurrencies

Cryptocurrencies are built for payments, transmitting value (digital currency) across a decentralized network of users. 

Many altcoins (i.eThose crypto that are not Bitcoin or sometimes Ethereum) are classified in this way and may sometimes be called value tokens or coins.

  • Tokens

There are also blockchain-based tokens that are meant to serve a different purpose from that of money. 

One example could be a token issued as part of an initial coin offering (ICO) that represents a stake in a blockchain or decentralized finance (DeFi) project.

If the tokens are linked to the value of the company or project, they can be called security tokens (as in securities like stocks, not safety).

Other tokens have a particular use case or function. Examples include Storj tokens, which gives people access to share files across a decentralized network, or Namecoin, which provides decentralized Domain Name System (DNS) service for Internet addresses. These are known as utility tokens.

Even though, while many users of crypto understand and appreciate these differences, traders and lay investors may not notice the difference because all categories of token tend to trade on crypto exchanges in the same way.

Our Approach

The cryptocurrency listed were aggregated from a careful assessment of articles published on different credible blogs and articles on Google’s SERP  over the past twenty-four hours. 

The concise details of each cryptocurrency are mentioned alongside companies, individuals working on the project to provide you, readers, with some context for your investment decisions. 

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Best Cryptocurrencies to Invest In For Beginners in 2022 According to GOOGLE.COM

10. Polkadot 

Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens. Connecting to Polkadot gives you the ability to interoperate with a wide variety of blockchains in the Polkadot network.

This is viable as the Polkadot network consists of a central relay chain that coordinates parachains. 

The parachains give developers access to create custom blockchains for special purposes in just minutes using the substrate network, for example, social networking, fintech, and other tasks. 

These parachains are then linked to the central relay chain and can interact with one another. The Polkadot network also includes on-chain governance, allowing users more say in the future development of the network. The network also includes forkless updates. 

In June 2021, Coinbase added Polkadot to its cryptocurrency trading platform. Adding more credibility to the Polkadot project and making it accessible to the millions of crypto traders on Coinbase.

Polkadot’s first token sale closed on October 27, 2017, raising a total of 485,331 ETH (Ether, the currency of the Ethereum blockchain).

Polkadot allows for cross-chain transfers of data or assets, between different blockchains, allowing for cross-chain DApps (decentralized applications) to be built using the Polkadot Network. The network utilizes a proof of stake consensus algorithm. The protocol used is Bling Assignment for Blockchain Extension(BABE).

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9. Monero

Monero is one of the most popular “privacy coins” on the market. It uses a public distributed ledger with privacy-enhancing technologies that obfuscate transactions to achieve anonymity and fungibility. 

Observers monitoring the blockchain cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories.

The protocol is open-source and based on CryptoNote, a concept described in a 2013 white paper authored by Nicolas van Saberhagen(unknown). The cryptography community used this concept to design Monero and deployed its mainnet in 2014.

Privacy coins like Monero are becoming more popular as payments firms like PayPal Holdings, Inc. back their adoption. 

Monero has the third-largest developer community among cryptocurrencies, behind bitcoin and Ethereum. 

Furthermore, Monero privacy features have attracted cypherpunks and users desiring privacy measures not provided by other cryptocurrencies.

8. Cardano

Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. The development of the project is overseen and supervised by the Cardano Foundation based in Zug, Switzerland.

It is the largest cryptocurrency to use a proof-of-stake blockchain, which is seen as a greener alternative to proof-of-work protocols.

Frederik Gregaard, the CEO of the Cardano Foundation, the Swiss body that governs the Cardano ecosystem, recently said that the foundation was focused on ensuring “maximum adoption and maximum utility” to reach people in developing countries. 

This means that Cardano is one of the first coins with a focus on the specific needs of developing nations.

Cardano operates a proof-of-stake protocol named Ouroboros; this is in direct contrast to Bitcoin and Ethereum, which use proof-of-work protocols though ETH is working on transitioning to proof-of-stake soon. 

Proof-of-stake blockchains use significantly less energy than proof-of-work chains which makes them more energy efficient. 

In February 2021, Hoskinson estimated the Cardano network used 6 GWh annually, less than 0.01% of the 110.53 TWh used by the Bitcoin network as estimated by the University of Cambridge.

Cardano climaxed a market cap of $77 billion in May 2021 and solidified its position as the biggest proof-of-stake cryptocurrency

7. Litecoin

Litecoin is one of the most popular Bitcoin spinoffs or forks. The Litecoin network is run by the Litecoin Foundation, a body led by Charlie Lee, a former Google and Coinbase employee.

Lee has likened Litecoin as the “silver” to Bitcoin’s “gold”. The Litecoin network is similar to Bitcoin but different in terms of transaction speeds, block generation time, hashing algorithm, and the maximum number of coins. Lee has also called Litecoin the “layman’s Bitcoin”. Litecoin has a market cap of more than $8 billion. 

Litecoin inherits the scrypt mining algorithm from Fairbrix, but returns to the limited money supply of Bitcoin, with other changes. 

Fairbrix emergence as a result of solving the issue with a similar Cryptocurrency Tenebrix, an alternative version. 

Lee released Litecoin via an open-source client on GitHub on October 7, 2011. The Litecoin network went live on October 13, 2011.

6. Ethereum (ETH)

The first Bitcoin alternative and progenitor of the altcoin ecosystem, Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. 

The aim behind Ethereum is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith.

This feature makes the implications for those in some countries more compelling because those without access to state infrastructure and state identifications can get direct contact and exposure to bank accounts, loans, insurance, or a variety of other financial products. 

The applications on Ethereum are run on ether, it’s the platform-specific cryptographic token. Ether (ETH) is like a medium for moving around on the Ethereum platform and is sought mostly by developers looking to develop and run applications or projects inside Ethereum, or recently, by investors looking to make purchases of other digital currencies using ether. 

Ether, launched in 2015, is currently the second-largest digital currency by market capitalization after Bitcoin, although it lags behind the dominant cryptocurrency by a significant margin.

Trading at around $3,150 per ETH as of February 2022, ether’s market cap is just over half of bitcoin’s.

In 2014, Ethereum launched a presale for ether, which received an overwhelming response; this helped to usher in the age of the ICO. 

According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the decentralized autonomous organization (DAO) in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC).

This split led to other forking activities aimed at strengthening the network and improving its infrastructure.

In December 2020, Ethereum transitioned its consensus algorithm from proof of work (PoW) to proof-of-stake (PoS).

This upgrade is intended to allow Ethereum’s network to run itself with far less energy and improved transaction speed, as well as to make for a more deflationary economic environment. PoS allows network participants to “stake” their ether to the network.

This procedure helps to secure the network and process the transactions that occur. 

This is an alternative to Bitcoin’s PoW mechanism, by which miners receive more BTCs for processing transactions.

Those who do this are rewarded with ether, similarly to how an interest account works. 

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5. Bitcoin Cash (BCH)

Bitcoin Cash BCH holds a vital place in the history of altcoins because it is one of the earliest and most successful hard forks of the original Bitcoin.

In the cryptocurrency world, a fork takes place as the result of debates and arguments between developers and miners. 

In June 2017, hardware manufacturer Bitmain described the would-be hard fork with the increased block size as a “contingency plan”, should the Bitcoin community decide to fork implementing SegWit. 

The first implementation of the software was proposed under the name Bitcoin ABC at a conference that month. In July 2017, mining pool ViaBTC proposed the name Bitcoin Cash. 

In July 2017 Roger Ver and others stated they felt that adopting BIP 91 (that would later activate SegWit) favored people who wanted to treat bitcoin as a digital investment rather than as a transactional currency.

The fork that created Bitcoin Cash took effect on 1 August 2017. In relation to Bitcoin it is characterized variously as a spin-off, a strand,a product of a hard fork, an offshoot, a clone, a second version, or simply an altcoin.

A Hong Kong newspaper likened this to a new version of word processing software saying:

Bitcoin cash is like a new version of Microsoft Word, which produces documents that can no longer be opened via the older versions.

At the time of the fork, anyone owning bitcoin came into possession of the same number of Bitcoin Cash units.

The technical difference between Bitcoin Cash and Bitcoin is that Bitcoin Cash allows larger blocks in its blockchain than Bitcoin which, in theory, allows it to process more transactions per second. 

Bitcoin Cash was the first of the Bitcoin forks, in which software-development teams modified the original Bitcoin computer code and released coins with “Bitcoin” in their names, with “the goal of creating money out of thin air”.

On 1 August 2017 Bitcoin Cash began trading at about $240, while bitcoin traded at about $2,700.On 20 December 2017, it reached an intraday high of $4,355.62 and then fell 88% to $519.12 on 23 August 2018.

In 2018 Bitcoin Core developer Cory Fields found a bug in the Bitcoin ABC software that would have allowed an attacker to create a block causing a chain split. Fields notified the development team about it, and the bug was fixed.

In Nov. 2018, Bitcoin Cash split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). This time around, the disagreement was due to proposed protocol updates that incorporated the use of smart contracts onto bitcoin’s blockchain and increased the average block size. 

However, in November 2020, there was a second contested hard fork where the leading node implementation, BitcoinABC, created BCHA.

Bitcoin Cash ABC implements the original Bitcoin Cash client but has incorporated several changes to its blockchain, such as Canonical Transaction Ordering Route (CTOR) – which rearranges transactions in a block to a specific order.

Bitcoin Cash SV is led by Craig Wright, who claims to be the original Nakamoto. He rejected the use of smart contracts on a platform that was meant for payment transactions.

The drama prior to the latest hard fork was similar to the one before forking Bitcoin Cash from Bitcoin in 2017. 

But the end has been a happy one as more funds have flowed into the cryptocurrency ecosystem due to the forking and the number of coins available to investors has multiplied. Since launching, both cryptocurrencies have garnered respectable valuations at crypto exchanges.

As a result of the decentralized nature of digital currencies, wholesale changes to the code underlying the token or coin at hand must be made due to general consensus; the methodology for this process varies according to the particular cryptocurrency.

When different factions can’t agree, sometimes the digital currency is split, with the original chain remaining true to its original code and the new chain beginning life as a new version of the prior coin, complete with changes to its code. 

BCH emerged in August 2017 as a result of one of these splits. The debate that led to the creation of BCH had to do with the issue of scalability; the Bitcoin network has a limit on the size of blocks: 1 megabyte (MB). 

BCH increases the block size from 1MB to 8MBs, with the idea being that larger blocks can hold more transactions within them, and the transaction speed would therefore increase. 

It also makes other changes, including the removal of the Segregated Witness protocol that impacts block space.

As of February 2022, BCH has a market capitalization of around $6.5 billion and a value per token of $340.19

4. Stellar (XLM)

Stellar (XLM), is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterward, its priorities shifted to helping financial firms connect with one another through blockchain technology.

The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

If all of this sounds familiar, it is worth noting that Stellar was originally based on the Ripple Labs protocol. The blockchain was created as a result of a hard fork, and the code was subsequently rewritten.

Huge transactions between banks and investment firms—typically taking several days, involving a number of intermediaries, and costing a good deal of money—can now be made nearly instantaneously with no intermediaries and cost little to nothing for those making the transaction.

Though Stellar has positioned itself as an enterprise blockchain for institutional transactions, it is still an open blockchain that anyone can use. The system allows for cross-border transactions among any currency. Stellar’s native currency is Lumens (XLM).20 The network requires users to hold Lumens to be able to transact on the network.

Stellar is unique because every transaction costs just 0.00001 XLM. Given how one unit of this cryptocurrency only costs a few cents at the time of writing, this helps ensure that users keep more of their money.

Stellar was founded by Jed McCaleb, a founding member of Ripple Labs and developer of the Ripple protocol. He eventually left his role with Ripple and went on to co-found the Stellar Development Foundation.

Stellar Lumens have a market capitalization of just under $6 billion and are valued of February 2022, live Stellar price as when this article was been written is $0.208387 USD with a 24-hour trading volume of $261,139,264 USD.

3. Dogecoin (DOGE)

Dogecoin (DOGE), seen by some as the original “memecoin,” or more specifically dog coin caused a stir in 2021 as the price of the coin skyrocketed. The coin, which uses an image of the Shiba Inu as its avatar, is accepted as a form of payment by some major companies, including the Dallas Mavericks, Kronos, and—perhaps most notably—SpaceX, an American aerospace manufacturer owned by Elon Musk.

Dogecoin was created by two software engineers, Billy Markus and Jackson Palmer, in 2013. Markus and Palmer reportedly created the coin as a joke, commenting on the wild speculation of the cryptocurrency market.

The price of DOGE hit an all-time high of approximately 0.74 cents during the week when Musk was scheduled to appear on Saturday Night Live. 

As of February 2022, Dogecoin’s market capitalization is $21.7 billion and one DOGE is valued at around 16 cents, making it the 11th-largest cryptocurrency.

SHIB

A memecoin inspired by a memecoin, Shiba Inu (SHIB), rose to prominence in the fall of 2021, briefly surpassing the market capitalization of Dogecoin.

2. Binance Coin (BNB)

Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. It is the third-largest cryptocurrency by market capitalization.24 Those who use the token as a means of payment for the exchange can trade at a discount.

Binance Coin’s blockchain is also the platform on which Binance’s decentralized exchange operates. The Binance Exchange was founded by Changpeng Zhao and is one of the most widely used exchanges in the world based on trading volumes.  

As of August 2021, BNB is the fourth-largest cryptocurrency by market capitalization, behind only Bitcoin, Ethereum, and USD Tether. 

Binance Coin was initially an ERC-20 token that operated on the Ethereum blockchain. It eventually had its own mainnet launch. The network uses a PoS consensus model. As of February 2022, Binance Coin has a $73.5 billion market capitalization, with one BNB valued at $436.24

1. Tether (USDT)

Tether (USDT) was one of the first and most popular of a group of so-called stable coins—cryptocurrencies that aim to peg their market value to a currency or other external reference point to reduce volatility. Because most digital currencies, even major ones like Bitcoin, have experienced frequent periods of dramatic volatility.

Tether and other stable coins attempt to smooth out price fluctuations to attract users who may otherwise be cautious. 

Tether’s price is pegged directly to the price of the U.S. dollar. The system allows users to more easily make transfers from other cryptocurrencies back to U.S. dollars in a more timely manner than actually converting to normal currency. 

Launched in 2014, Tether describes itself as “a blockchain-enabled platform…to make it easier to use fiat currency digitally.

Effectively, this cryptocurrency allows individuals to utilize a blockchain network and related technologies to transact in traditional currencies while minimizing the volatility and complexity often associated with digital currencies.

As of February 2022, Tether is the fourth-largest cryptocurrency by market capitalization, with a market cap of $78.1 billion and a per token value of (you guessed it!) $1.26

Bottom line

The cryptocurrency market is a Wild West, so those speculating in these digital assets should not put in more money than they can afford to lose.

Volatility can be intense, with crypto assets fluctuating significantly even in a single day. And individual investors can be trading against highly sophisticated players, making it a fraught experience for novices.

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