Undeniably the future of cryptocurrency in India looks bright. The popularity of Cryptocurrencies is growing by leaps and bounds. It has moved over and above just being bought and held by people for trading, and it is slowly penetrating the market as a trusted source of payment for various e-commerce sites. Thanks to the blockchain technology that the cryptocurrencies are built on, it is considered as the securest way of transacting a decentralized currency that is not controlled by a country or a bank. When we talk about cryptocurrencies as a novice, a lot of us are aware of a handful of names that we think are suitable for investment. The list below throws substantial light on what are the top 7 cryptocurrencies that Indians can buy and hold in the year 2022.
- Bitcoins: Not very surprisingly Bitcoin tops the chart of reputed cryptocurrencies for trading. This can be attributed to their presence in the market for a very long time, high value, and the fact that they stayed synonymous with cryptocurrencies for times unknown. Bitcoins are circulated finitely like the precious metal gold, and proponents often refer to bitcoins as the gold standard of cryptocurrencies.
- Tether: Launched in 2014, the Tether is a brainchild of three enthusiastic individuals who felt that the cryptocurrency market is unpredictable and volatile and that there was a need to bring in a stable coin in the market. If you are looking to invest in the cheapest cryptocurrency in India, then Tether is a good alternative to Bitcoins because it is fixed to US dollars, and it experiences lesser fluctuations when compared to its counterpart Bitcoins. It offers a substantial blanket of protection to the investors against the volatile market of cryptocurrencies.
- Cardano: Cardano is a third-generation blockchain cryptocurrency that was launched in the year 2017 and it is considered an upgraded version of Ethereum. Bitcoin is built on first-generation blockchain technology, and Etherum is considered to be built on second-generation blockchain technology. Cardano describes itself to be the most scalable and environmentally sustainable cryptocurrency in the market because it employs Proof of Stake (POS) over Proof of Work (POW). It is highly capable of running financial platforms across the globe, and it has proven its potential to Indian investors in the last couple of years. Experts have predicted that 2022 may witness a surge in the value of Cardano crypto as more and more people start using this technology.
- Uniswap: Launched in the year 2018, Uniswap instantly grabbed the eyeballs of the investors, thanks to its decentralized crypto trading protocols just like that of Etherium and it facilitates peer-to-peer (P2P) trading between desirable individuals. It holds huge potential in the coming years, as more and more projects are going to employ Uniswap to manage their liquidity.
- Dogecoin: Started as a joke, this first meme coin has been trending on the internet for a long time now. Dogecoin was launched in the year 2013, however, it started gaining popularity among the global investors only in the year 2020 when it was acknowledged as a valid payment model among sports teams and was backed by some powerful names like Elon Musk and Mark Cuban. It is also touted that AMC theaters are opening their gates to accept Dogecoins crypto as a mode of payment from March 2022.
- Shiba Inu: An Ethereum-based altcoin, Shiba Inu cryptocurrency was among the most popular crypto in the bygone year of 2021. This is also a meme-based cryptocurrency that overtook its long-standing rival Dogecoin in the last few months and how! Experts have predicted that Shiba Inu will continue to outperform its currency rivals in the year 2022, but since it was launched only in 2020, we will have to wait and watch how it will fluctuate.
- Tron: Tron is one of the fastly growing and moving crypto assets in the market with a goal to decentralize entertainment. It is also a blockchain digital platform that predominantly hosts entertainment applications and was launched in the year 2018. The Tron tokens are used by the audience to connect with music content creators directly, to create less expensive content without having to bear the cost of middleman corporations. Tron looks highly promising as it reduces the cost of trading in cryptocurrencies significantly.
Since it is the start of the year, investing is a good idea now. Cryptocurrencies have given diverse options to investors and the good news is that many new platforms are being built and existing ones are being modified or maximized so that the common man of India can start investing and or trading into these virtual coins with ease. We hope the above list of cryptocurrencies has given you insights on what is trending in this new year so that you can chalk out your investment plans.