If you're looking to start buying cryptocurrency, you probably have a question "what are some good coins to invest in?" Although bitcoin might be the obvious choice, it's not necessarily the best one in 2022. Your chances of having a big payoff might be better with a smaller coin that hasn't already been pumped up by institutional investors the way bitcoin has.
Here are 5 cryptocurrencies that might still have a high ceiling -
Ethereum
Ethereum is a blockchain that secures digital ledgers to be publicly created and maintained. It is a community-run technology that powers the cryptocurrency Ether (ETH) and decentralized applications.
Ethereum is worth buying because it serves two purposes: it acts as money and can be a store of value. It is also a highway for decentralized finance.
Solana
Solana is a decentralized blockchain that is developed to enable scalable as well as user-friendly applications.
It can process many transactions per second and has lower fees when compared to other blockchains, and uses the Proof-of-Stake (PoS) and Proof-of-History (PoH) consensus methods.
The main reasons for buying Solana, cited by US News, are the high speed and low fees as well as its level of scalability. Solana is also used for non-fungible tokens (NFTs).
In fact, Solana has a reputation for being the quickest blockchain network as Solana can process as many as 50,000 transactions per second.
In comparison, Ethereum can process 15 transactions per second, while Bitcoin can process 7 transactions per second. Outside of crypto, Visa can process 1,700 transactions per second.
Polygon
Polygon was formerly known as the Matic Network before rebranding and is a blockchain scalability platform that connects and builds blockchain networks that are compatible with Ethereum.
Polygon is a solid investment because it is a framework for a blockchain network, and is compatible with the Ethereum virtual machine.
Polygon has become a prominent feature of several decentralized finance (DeFi) protocols, and many platforms are adopting it daily.
Users need to bridge their Ethereum assets on the Polygon network. In turn, they get access to speed, affordability, and a potential market leader.
Some DeFi apps that are popular include QuickSwap, Aave, Curve Finance, AutoFarm, Beefy Finance, SushiSwap, 1inch, and many more. It has also found its place within Non-Fungible Tokens (NFT) minting.
Litecoin
Litecoin is an early altcoin that was developed by a former Google Engineer known as Charlie Lee in 2011. It was a direct competitor to Bitcoin that attempted to make cryptocurrency transactions quicker and cheaper.
Litecoin has a greater reward-to-risk ratio as it has to go a lot further to catch up with the rest of the market, and has more financial rewards or upside.
The Sandbox (SAND)
The Sandbox is a virtual Metaverse where players can play, build, own as well as monetize their virtual experiences. It is a user-generated platform that allows anyone to create and monetize from the metaverse.
The Sandbox is a solid investment because it applies blockchain technology to a massive global market such as the gaming industry and has a 100% focus on decentralization.
When the game launches this year, a player can use the SAND coins to transact with just about anything within the game, including Non-fungible tokens (NFTs) and any other in-game items.
Additionally, SAND coins can also be used for the governance process, where holders of the SAND token can vote on proposals that will further develop the game.
What are some good coins to invest in? I hope now you get the answer.
