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Best Currency to Invest in 2022

Umesh Kurmi is a semi-qualified Chartered Accountant from the Institute of Chartered Accountants of Nepal. He has seven years of experience.

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Cryptocurrencies and Blockchain technology are buzzwords in the tech world today. But what exactly are they, and why are they causing such a stir?

The concept of cryptocurrencies has been around for quite some time, but their popularity began to soar in 2017 when Bitcoin reached an all-time high of $20,000 per coin.

While there have been many other cryptocurrencies that have come and gone over the years, Bitcoin remains the most popular cryptocurrency today. So far, 18.9 million Bitcoins had been mined as of January 2022, with roughly 2.1 million bitcoins yet to be distributed.

And the total value of all cryptocurrency holdings has just surpassed $3 trillion.

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Hundreds more cryptocurrencies are now accessible for purchase. Because they all have various traits, it's difficult to say which one is the finest. You can easily choose the best digital money for you if you have a strong awareness of the many types of cryptocurrencies and their properties.

But how do you choose? This article will explain the best digital currencies to know about and which ones are worth investing in.

1. Bitcoin (BTC)

Bitcoin is a cryptocurrency, which is a digital asset designed to function as a means of exchange that is created and managed using encryption rather than relying on central authorities. It has no government or central bank backing.

Satoshi Nakamoto, a pseudonym for an unknown individual, founded it in 2009. However, a large number of individuals all around the world embrace and use it.


2. Ethereum (ETH)

Ethereum is the currency that powers the Ethereum network. You can use ETH to pay for Ethereum network transactions and services. You can exchange Ethereum for bitcoins. Else, you can buy Ethereum directly with your bank account or credit card.

It is digital money comparable to bitcoin, but with a few important differences. Ethereum is a decentralized smart contract platform built on the blockchain. Through this platform, developers can build more sophisticated and complex applications.

3. Tether (USDT)

Tether was founded in 2014 by a former Google employee, Brock Pierce. Tether is a digital currency that is pegged with the US dollar and other fiat currencies but is not backed by any tangible assets such as gold or silver. The company has been the subject of many controversies and has faced several lawsuits over its practices.

Its value does not fluctuate over time because the US dollar price of Tether is always equal to 1 USD. If you hold USDT, you can trade it with other currencies as well. Tether’s goal is to bridge the gap between the volatile price of cryptocurrencies and the stability of fiat currencies.

4. Binance Coin (BNB)

Binance Coin is a utility token issued by Binance, a cryptocurrency exchange registered in the Cayman Islands. Binance was founded in China but moved its headquarters out of the country after the Chinese government tightened its grip on cryptocurrencies.

It's neither a security nor a currency. On the Binance platform, you can use BNB to pay transaction fees. You can also use it to pay for other services on the Binance platform, like listing fees and listing promotions.

The maximum total supply of BNB is 200 million. BNB was created in July 2017 and was initially distributed in a series of airdrops to holders of other cryptocurrencies, including Bitcoin and Ethereum.

BNB is not an investment, but it does give users some benefits. BNB holders receive discounts on trading fees and other discounts when using the Binance platform. The BNB token also has the potential to be a store of value due to its utility on the Binance platform.

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5. U.S. Dollar Coin (USDC)

USDC is a US dollar-backed cryptocurrency on the Ethereum blockchain. It is tradable on exchanges.

USDC is a coin created by Circle, a popular digital currency company that allows you to buy and sell Bitcoin in the US. The coin was launched in September 2018. Circle’s coin is linked to the US dollar and will always be priced at $1. The price of USDC determines the price of Bitcoin, and you can use the coin to store and transfer digital currencies.

You can use USDC tokens for making payments and transfers within the Circle ecosystem, including for paying bills, transferring money, or purchasing goods and services from participating merchants.

It is a digital currency that maintains value in terms of a fiat currency. This means that there is no risk of price fluctuations or devaluation.

6. Xrp (Xrp)

Ripple is a real-time gross settlement system (RTGS) based on the XRP ledger. Ripple has its native currency called XRP. XRP is a digital currency that can be sent between people or businesses. It was created by a company called Ripple Labs Inc.

It is used to transfer value between different digital currencies, as well as to make payments for goods and services. Ripple’s CEO, Brad Garlinghouse, claims that XRP has the potential to revolutionize the financial industry.

7. Cardano (ADA)

Cardano is a blockchain protocol that is focused on solving real-world problems. It has its cryptocurrency known as ADA. ADA has been listed in Binance, Bittrex, and Upbit. Cardano is a Proof of Stake coin that uses a unique Ouroboros algorithm. The ADA coin was released in September 2017 and was launched on the 31st of October 2017. The total supply of ADA coins is set at 45 billion.

Cardano is a third-generation blockchain that aims to deliver more advanced features than its predecessors. The platform uses a new proof-of-stake consensus mechanism and comes with a new programming language called Ouroboros.

It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. Cardano has its ADA token, which you can use to pay for transaction fees and also store value.

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8. Solana (SOL)

In 2017, Solana, a blockchain startup that is working on a new technology known as Proof-of-Stake (PoS) and is based in Switzerland, has launched its cryptocurrency called Solana. Solana aims to be the first truly scalable blockchain. The company claims that it will be able to handle more transactions than Ethereum and Bitcoin combined.

Solana's goal is to make it simple for developers to create blockchain applications and smart contracts. It also offers different capabilities like privacy and scalability.

Solana is an Ethereum 2.0 project that has an updated consensus algorithm and is capable of scaling up to thousands of transactions per second. This algorithm helps with faster transaction speeds.

9. Avalanche (AVAX)

Avalanche is a brand-new cryptocurrency built on the Ethereum platform. It was launched in 2020. It allows users to create smart contracts and send transactions without fees. It also has an easy-to-use interface that allows users to store and manage their assets.

AVAX is a new cryptocurrency that aims to achieve a sustainable and scalable cryptocurrency platform. The platform will be capable of processing huge numbers of transactions per second and providing the necessary trading speed. It also aims to provide fast and secure transactions, making it an ideal cryptocurrency for everyone.

10. Terra (LUNA)

Terra (LUNA) is a blockchain platform that aims to provide a secure, scalable, and fast blockchain for the new era of digital currency. It is based on the Ethereum protocol and includes special characteristics that enable it to scale to any size and power consumption. The project is aimed at providing an easy-to-use, developer-friendly platform that allows anyone to create their digital currency with few lines of code.

It was founded in January 2018 and uses an anonymous Proof-of-Stake (PoS) consensus algorithm. The currency aims to become a universal currency that will be usable in everyday life. Terra has its marketplace and an e-commerce platform called Luna Market.

Terra's goal is to solve the problem of blockchains being vulnerable to spam attacks. With this cryptocurrency, it will also be easier for new users to get started with cryptocurrencies and for developers to build on top of Terra's blockchain.

Please try this out

For each question, choose the best answer. The answer key is below.

  1. Name the most popular cryptocurrency
    • Bitcoin
    • Ethereum
    • Tether
    • Solana
  2. Which digital currency has the highest market capitalization?
    • Polkadot
    • Bitcoin
    • XRP
    • Binance Coin

Answer Key

  1. Bitcoin
  2. Bitcoin


Cryptocurrencies, like Bitcoin, allow you to transfer money from one person to another quickly and securely. They're often used for purchases on the internet, but there's also an emerging market of digital currencies that can be used to pay bills or buy goods and services. Blockchain is a digital ledger that keeps track of all transactions made with cryptocurrencies, making it easy for people to see who owns what at any given time. It's also being used in a variety of ways outside of just cryptocurrency transfers; for example, banks are testing out the technology to make international payments.

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This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2022 Umesh Kurmi

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