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10 Best Cryptocurrencies to Invest in 2022 for long-term Gains

Cryptocurrencies have had a rough start of the year amid multiple concerns in the industry. The biggest concern is the Federal Reserve, which has committed to be more aggressive in its battle against inflation. Coins have also crashed because of the rising fear of valuations in the cryptocurrency industry.

Cryptocurrencies like Bitcoin, Ethereum, Ripple, and Cardano have all plummeted by more than 50% from their all-time highs. In this article, we will highlight the ten best cryptocurrencies to invest in for long-term gains.

Bitcoin

Bitcoin is a leading cryptocurrency that was started in 2009 by Satoshi Nakamoto. The coin was created to be an alternative to fiat currencies like the US dollar and the euro. Its difference is that it would be decentralized in nature, meaning that no single entity would have a lot of power over it.

At its peak, Bitcoin was trading at almost $70,000. Now, it has crashed to about $25,000 as worries about the Federal Reserve rise. Still, there is a likelihood that the coin’s price will do well in the future. Unlike other coins, it is significantly safe and its supply is falling substantially. 

Further, Bitcoin has been embraced by some of the biggest entities in the world. For example, Tesla owns Bitcoin worth over $1 billion. Similarly, companies like MicroStrategy and Square have Bitcoin in their balance sheet. Therefore, the Bitcoin price will likely be a good long-term investment.

Read more on how to buy Bitcoin with PayPal.

Ether

Ether is the native token for Ethereum’s ecosystem. Ethereum is a leading blockchain that enables developers to build quality decentralized applications in all industries. It is possible for people to build apps in areas like decentralized finance (DeFi), non-fungible tokens (NFT), and metaverse.

Ethereum has become an important player in these industries. For example, it was used to build apps like Axie Infinity, Aave, Curve Finance, and Decentraland. Therefore, since the blockchain industry is expected to keep growing, there is a likelihood that Ethereum will continue playing an important role. 

Ethereum is also a good investment because of its transition from a proof-of-work into a proof-of-stake network. This movement, coupled with the embrace of sharding technology, will lead to more demand. Therefore, there is a possibility that Ethereum price will keep doing well.

Read more on how to buy Ethereum.

XRP

XRP is the cryptocurrency for the Ripple ecosystem It is a relatively “old” and highly controversial coin because of the power that Ripple Labs has on it. The coin is also controversial simply because of the ongoing lawsuit that was brought by the Securities and Exchange Commission (SEC). 

The lawsuit alleges that its creators raised money without following the due process. It is still unclear who will win the case. Still, there is a likelihood that the Ripple price will do well in the long term. For one, analysts believe that the outcome of the lawsuit will not have a major impact on the price.

Here’s how to buy Ripple.

DOGE

Dogecoin is another good cryptocurrency to invest for long-term gains. It is one of the biggest coins in the world with a market cap of more than $10 billion. Dogecoin is a good investment because of its large popularity among young investors and the fact that it will be integrated in Twitter when Elon Musk completes his acquisition. It is already accepted in Tesla’s accessories business.

Read more on how to buy Dogecoin.

Monero

Monero is the biggest privacy-focused cryptocurrency in the world. The developers introduced an important concept that makes it impossible for anyone to track transactions. This process works in a relatively easy method. 

For one, while every holder has a public address, the funds they own are not associated with the address. At the same time, when you send funds to someone, these funds will be sent to a randomly-created address. Therefore, Monero price will do well in the future as demand for privacy tokens rise.

Litecoin 

Litecoin is another good cryptocurrency to invest for long-term gains. The coin was created with the goal of becoming a good alternative to Bitcoin. It is a proof-of-work cryptocurrency that works in the same way as Bitcoin. 

For example, it is a significantly faster coin than Bitcoin and its transactions are significantly cheaper. Unlike Bitcoin that has a supply limit of 21 million, Litecoin has a limit of 84 million. While Litecoin has underperformed in the past few months, there is a likelihood that it will do well in the long term.

Read more on how to buy Litecoin.

ATOM

ATOM is the native token for the Cosmos ecosystem. Cosmos is a leading blockchain platform that helps to interconnect multiple coins. According to its website, it has hundreds of coins that have billions in total value. At the same time, its SDK is used to build some of the most important blockchain platforms in the industry like ThorChain and Osmosis. The ATOM price will do well as its ecosystem growth continues.

SAND

The Sandbox is one of the biggest metaverse industry. It is a platform that enables people and companies to buy virtual property online. It has also become one of the leading platforms for trading virtual non-fungible tokens (NFT). Further, it is a leading gaming ecosystem that enables people to play virtual games in tournaments known as Alpha. The SAND token will likely keep rising in the long term.

MKR

MKR is the native token for the Maker ecosystem. Maker is a leading DeFi platform that enables people to borrow and save in the network. It is different from other DeFi platforms simply because of its own stablecoin known as Dai. Further, unlike other platforms, it uses its own oracle system. Therefore, there is a possibility that the MKR price will rise in the long term, especially after the collapse of Anchor Protocol.

LINK

LINK is another popular cryptocurrency that is a good long-term investment. It is a leading platform that enables blockchain developers to simplify their development process. It does that by helping them incorporate off-chain data to the on-chain. 

It has the biggest market share in the industry and is used by leading DeFi platforms like Aave and Uniswap. Because of its market share and strong growth, there is a possibility that it will do well in the long term.

Read more on how to buy Chainlink.

The post 10 Best Cryptocurrencies to Invest in 2022 for long-term Gains appeared first on Coin Journal.

Bitcoin Whale Breaks 8 Year Long Silence With $30 Million Worth Of BTC Transfer

After an eight-year dormancy, a Bitcoin (BTC) Whale unexpectedly moved $30 million worth of BTC. On November 20th, 2013, the exact address received 1,000 BTC worth $567,600 at the time, Blockchair reported.  The Bitcoin remained dormant in one wallet until it was moved as part of a much larger block that sent nearly 2,100 BTC::Listen

After an eight-year dormancy, a Bitcoin (BTC) Whale unexpectedly moved $30 million worth of BTC. On November 20th, 2013, the exact address received 1,000 BTC worth $567,600 at the time, Blockchair reported. 

The Bitcoin remained dormant in one wallet until it was moved as part of a much larger block that sent nearly 2,100 BTC to two other addresses. One address received 2,000 bitcoins, while the second collected above 99.99 bitcoins.

Related Readings | Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

Bitcoin Movements In Dormant Wallets 

1,000 BTC were worth $30,090,000. That’s more than 53 times the original price from 2013, when Bitcoin was only $567. The transaction only cost 0.0016 BTC in fees, which is about $47.15 at the time it was executed.

During the last eight years, the inactive whale wallet received trace amounts of Bitcoin 23 times, and it appears that those amounts were for dusting attacks. 

What are dusting attacks? These involve hackers and scammers sending minuscule amounts of Bitcoin (or other cryptocurrencies) to break wallets’ privacy.

BTC is trading at $29,353 after recovering from $27,000 | Source: BTC/USD price chart from tradingview.com

The advanced blockchain tracker, Whale Alert, traced the transaction and reported on Twitter as: 

A dormant address containing 1,000 #BTC (30,395,186 USD) has just been activated after 8.5 years (worth 468,643 USD in 2013)!

Blockchair also identified another wallet that has remained dormant since 2012 and finally transferred 500 BTC on Thursday. The first deposit of one Bitcoin was made back on 5th April 2012.  The wallet then added another 499 BTC on June 3rd of the same year. The Bitcoin price at that time was only $5.25 per coin.

However, throughout that period, the wallet received modest sums of BTC, which appears to be dust transactions used by scammers to carry out dusting attacks.

Remarks And Contribution of Satoshi Nakamoto

The creator of Bitcoin has been silent for years, but people still think they know who it is. As a result, transactions from long-dormant wallets typically drum up media interest. Because they generate chatter speculating that the BTC could be owned by Bitcoin’s secretive creator, Satoshi Nakamoto.

Nakamoto launched the genesis block on January 3, 2009. Since then, it has succeeded in mining almost 1,000,000 BTC, according to the assessment of Blockchain analysts.

Related Readings | Investors Make For Stablecoin Hills As USDT Volume Touches All-Time High

Satoshi confirmed his appearance on the internet in December 2010 when the Bitcoin network’s client software version was 0.3.19, and now Bitcoin’s version is 22.0.  

Bitcoin has been showing high volatile movements during the last few months; it was at the price of $ 36,000 before a week and declined to $25,401 last Thursday. 

Bitcoin is currently recovering from a market-wide dip. As of the time of writing, it has increased in value by 13.5% from this year’s low and is trading for $29,353.

 

Featured image from Pixabay, and the chart from Tradingview.com

 

10 Best Cryptocurrencies to Invest in 2022 for long-term Gains

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