Cryptocurrency has been one of the biggest investments since Bitcoin was established in 2009. In the past ten years, cryptocurrency has tripled its value, with one Bitcoin currently valued at a whopping over $40,000! But it is important to note that cryptocurrency has a more volatile nature than regular assets in the stock market. It takes a deep understanding of how the cryptocurrency industry works to know that you will make a huge profit shortly. If you want to dip your toes in the world of cryptocurrency this 2022, look no further as this article outlines some of the best cryptocurrency digital assets you can invest in based on their YoY performance, trend projections, and risks.
The Next Big Thing in Cryptocurrency:
Did you know that Binance Coin is one of the most successful digital assets in the crypto industry regarding trading? Currently, over 200 million Binance coins are circulating the market. The mogul behind building this massive crypto digital asset is Changpeng Zhao or CZ, a Chinese Canadian coder. Binance coin initially ran in the Ethereum blockchain back in 2016 but has since held its own starting July 2017. Its branding has that sophisticated BNB symbol. Binance has a market cap of over $56 million and ranks behind Bitcoin, Ethereum, and USD Tether in terms of Market Cap.
With the metaverse concept slowly building its foundation and gaining popularity, many cryptocurrency platforms are using this idea to increase their digital assets. One of them is Decentraland. Decentraland is a virtual reality game on the Ethereum blockchain where you can buy virtual land using the MANA cryptocurrency. You can then develop your land using the Decentraland editor. Another option is for you to import 3D models from external software. Other items such as cosmetic gear, hats, and shirts can also be traded in this 3D virtual world. MANA is slowly but surely becoming one of the strongest cryptocurrencies, with prices currently at $2.30 – a noticeable upward shift of over 1500% from its original price of 15 cents.
Ethereum, also known as Ether, is the second biggest crypto besides Bitcoin. It is a digital asset powered by blockchain technology, making it one of the most secure types of digital currency in the volatile world of the crypto industry. The Ethereum platform was founded by Vitalik Buterin in 2013. This platform was officially launched in 2015 by Buterin and Joe Lubin, who was the founder of a Blockchain software called ConsenSys. The competitive edge of Ethereum compared to other types of crypto currencies is its unique Blockchain technologies that consider the full potential of how Blockchain works beyond just enabling the secure trading of virtual currency.
Bitcoin and Ethereum may have similarities, but these cryptocurrencies have stark differences. Ethereum is described by many crypto experts as one of the most programmable blockchains, which makes Ethereum applicable to other types of cryptocurrencies. Bitcoin, in contrast, has its blockchain programmable only to Bitcoin, which makes it less versatile than Ethereum.