The coronavirus pandemic affected the Bitcoin and cryptocurrency market adversely. As if that's not enough, then came the Russia-Ukraine invasion in 2022, sprouting global tension once again. But that hasn't stopped investors from diving deeper into the cryptocurrency world. There are many exciting and yet profitable coins gaining fame in 2022. For example, XRP investors and Ripple are in a celebratory mood after the Security and Exchange (SEC) commission moved its litigation. This article will focus on the three cryptocurrencies likely to generate huge profits.
How Do You Find the Best Cryptocurrency?
There are over 16,000 digital tokens that are in circulation. That means researching and eventually picking the right coin for growth and profitability is a big challenge. By the time you’ve analyzed five (5) to ten (10) projects, another token has been moving higher because news broke yesterday. To thrive, you need to understand cryptocurrency trading bots' best market strategies and basics.
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But, there are still crucial things to consider for you to make the exponential and even larger than life gains with your investment portfolio. Bitcoin is king, and the ultimate proof of work project, but there are many other cryptocurrencies and blockchains that serve possibly an even better purpose.
Some tools like the cryptocurrency converter will also come in handy while converting prices online between two currencies. Maybe you are wondering how to calculate the crypto exchange rate. Look at the volume-weighted average price. Or, if you have 300 Chainlink (LINK), how many Zilliqa (ZIL) can you buy and for how many U.S. Dollar…?
Three (3) Best Cryptocurrency to Watch out for in 2022
XRP is a native cryptocurrency for Ripple. If a bank is looking for a cryptocurrency to help you settle payments to your ex-husband for spousal support because he ran off to Morocco with the girl's soccer coach, you should consider XRP and Cross-Border Payments. Unlike Bitcoin, XRP needs a less complicated method of mining and exchanging assets on the network.
The main purpose with developing XRP and RippleNet was to establish an intermediate mechanism between two currencies or networks. “Instantly and Efficiently Move Money to All Corners of the World”.
You were the breadwinner in the family but is your ex-husband unaware of actually how wealthy you are because you’ve been researching and purchasing XRP and BTC since 2014, while he was practicing his juggling skills with a soccer mom? Will the Ripple Network and XRP be the ultimate form of currency transfer one day…?
Although ADA still lacks all the attention it deserves, it's one blockchain project that should be on every investor's checklist. The platform is named after the Italian polymath Gerolamo Cardano, while the cryptocurrency itself is named after mathematician and Countess, Ada Lovelace. The ADA sub-unit is the Lovelace; one ADA = 1,000,000 Lovelaces.
Among the qualities that make ADA stand out is its eco-friendliness. It uses less energy compared to other blockchains like Bitcoin and Ethereum. These two are estimated to use about 150 terawatts and 50 terawatts per hour, respectively. Unlike its counterparts, ADA has the potential to process higher transactions and only uses 199.45 kilowatts per hour of energy. Cardano is 1.6 million times more energy-efficient than Bitcoin. The Cardano network processes about 257 transactions per second. This aspect is contrary to Bitcoin, which can only transact five transactions per second.
Additionally, it has a wide range of uses across different healthcare, finance, and agriculture sectors. In the health sector, ADA can ascertain the validity of a pharmaceutical product, thus avoiding buying counterfeits. Regarding finance, ADA is the best transactional tool in developing countries to demonstrate creditworthiness. For Agriculture, ADA can provide a legit supply chain to optimize production and delivery for merchant's and farmers’ crops and products.
The founding team associated with Cardano and IOHK is exceptional. It is “one of the world’s pre-eminent blockchain infrastructure research and engineering companies". Charles Hoskinson is a mathematician and previous co-founder of Ethereum. His current projects focus on educating people about cryptocurrency, being an evangelist for decentralization, and making cryptographic tools easier to use for the mainstream. The infamous Snoop Dogg might be his new best friend…
Despite being relatively new, the Terra platform and LUNA reserve currency offer fast and affordable transactions. Being one of the best performing cryptocurrencies in the past year ($4.00 per token to over $100), LUNA has two purposes of serving; create and stabilize the price of the TerraUSD (UST) stablecoin and mandate its holder's leadership over how to operate and validate the network.
Many things have contributed to the rapid growth of LUNA. That includes the Terra network's technology development on the Ignite (previously Tendermint) and Cosmos ecosystem, hence improving the functionality and purchasing power of the TerraUSD (UST) algorithmic stablecoin. More importantly, the Luna Foundation Guard (LFG) has already purchased 28,000 Bitcoin valued at $1.3 billion at the time of this writing. They are in the process of raising a total of $3 billion to buy Bitcoin as a Reserve Currency for the UST stablecoin.
Here's why you should consider picking LUNA;
Although Bitcoin remains the predominant cryptocurrency in terms of economic value and Reserve Currency, XRP, ADA, and LUNA pose potential in transaction speed, affordability, and scalability. The more reason you should consider them in your daily crypto trading and investment portfolio.
If you’re interested in a free technical analysis on any of these projects discussed, please feel free to let us know. Contact us via our website or @tradinggreyio.