First humanity traded by barter, we exchanged goods for goods till we invented money as a legal tender. Over the years money has played an important role in our world. It has made it easy for people across countries to trade amongst each other. This was the norm we all thought would never be challenged till 2009, when “Mr. Anonymous’ ‘ Satoshi Nakamoto invented Bitcoins. The mathematician created the first-ever Cryptocurrency and it was priced at $0 at the time. Fast forward to 2021, Bitcoin is the world’s most valuable asset even worth more than gold. A Bitcoin now sells for $48477.50 in today’s market. Due to the success of Bitcoin, a number of Cryptocurrencies have sprung up and are pulling their weight too.
The one obvious disadvantage of crypto is the fact that they are not yet widely accepted. This makes spending it a problem sometimes. There is a way around it though. People trade their cryptocurrencies for gift cards then use the gift cards to shop. For countries like Nigeria where a number of gift cards don’t work, the gift cards can be traded for cash. Beware though because there are a lot of scam platforms. It is important to use a safe, easy to use and pocket-friendly platform for this trade. In case you change your mind after buying the gift card you can still resell it on the platform for Cryptocurrencies like Bitcoin and USDT.
As 2021 draws to an end we have compiled a list of Cryptocurrencies that have done well in the market in terms of worth. Before we go further on that though let us look at what Cryptocurrency is, for the newcomers.
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What is Cryptocurrency?
Cryptocurrencies are 100% digital, meaning they can’t be touched physically and can only be accessed online. In a nutshell, it is a collection of digital currencies that are used for online transactions. It operates, tracks, and records its transactions on Blockchain technology. Blockchain technology is a decentralized system that is controlled by several supercomputers.
Examples of Cryptocurrencies are, the almighty Bitcoin, Ethereum, Tether, Dogecoin, etc. This phenomenon has also created alternative jobs for people with exceptional math skills through crypto mining. Investors still stand a chance to position themselves as top earners in the crypto market. Here are the top 5 cryptocurrencies to invest in.
Top 5 Cryptos To Invest In
According to Coinmarket Cap, these are the best performing Cryptocurrencies, according to their market cap.
1. Bitcoin ($1.1 trillion)
Bitcoin is the first crypto and had gathered a lot of investors before the others could pop up. Its market cap is the highest of them all at $1.1 trillion. The future looks even brighter for this currency.
2. Ethereum ($536.2 billion)
Ethereum comes second on the market capitalization cryptocurrency list. The platform allows anyone to create decentralized financial apps, trade NFTs and create new Cryptocurrencies. This will be a good investment in 2022 as it’s not just a currency but a service provider.
3. Binance Coin(102.2 billion)
Binance exchange is the largest cryptocurrency trader in the world so it is only right for the company’s branded cryptocurrency to do well in the cryptocurrency market.
4. Tether (USDT) ($74.2 billion)
Known as a stablecoin because it is designed to always be worth a dollar. The Ethereum powered cryptocurrency will be a wise investment in 2022. Bitfinex the owners of Tether Limited have positioned the company to look like the perfect digital currency for the dollar.
5. Solana ($69.7 billion)
Created in the Covid-19 ravaged 2020 still the cryptocurrency has had a 16,000% growth since January. It started at $1.51 and an $86 million market cap but now it’s selling at $241 and its market cap is looking interesting at $69.7 billion. It’s obvious that the Solana coin will keep growing so why not invest early?
Those are the top 5 most rated cryptocurrencies in the crypto market. Start your 2022 with smart crypto investments and smile all year round.