Cryptocurrencies have been the buzz of financial markets and technology industries for the past few years, ever since Satoshi Nakomoto posted the first Bitcoin Whitepapers. The hype cryptocurrencies have caused in the past few years is enough to draw the attention of anyone seeking to transform their lives in the financial markets and a profit from investing and trading in cryptocurrencies. As in any financial market, the question is: Which One Should You Go For?
Investing in cryptocurrency requires a lot of diligence, research, and patience since there are always some unscrupulous persons lying in wait for novice investors to defraud them. In fact, the number of stories in crypto circles about the infamous rug pulls and losses when a new trader joins the market are often more than those speaking of traders that 2X, 3X, or 10X their initial investments. This article guides five cryptocurrencies you should consider in the last quarter of 2022.
Cryptocurrencies To Look Out For In 2022
- 1. Bitcoin
You could consider Bitcoin, or BTC, the parent of all cryptocurrencies. Bitcoin has weathered the storm that has faced all cryptocurrencies for over a decade. Since 2009, Bitcoin has grown in popularity and usage, which has increased the price of the coin on the blockchain and different exchanges. As the oldest cryptocurrency with the most extensive use globally, you can never go wrong investing in it.
You may be asking yourself why you should buy Bitcoin now, especially since the coin has undergone numerous losses over the past two years. In cryptocurrencies, the mantra “Buy The Dip” can guide you. Since BTC has proven its use in the past few years, buying it when it is low could benefit you in the long run. While investing, you may want to look at automated bitcoin trading systems like Immediate Edge. They are highly profitable and have a considerable success rate over others in the market.
- 2. Ethereal
Ethereum, or ETH, is the second largest cryptocurrency by market cap, after BTC. Considering its effectiveness in addressing some of the security limitations of BTC, ETH is likely to grow in market cap and value. Getting ETH in the last quarter of 2022 could be a wise choice for the following reasons.
First, if you are an ardent follower of cryptocurrency and web 3.0 news, you may be aware that ETH is the main currency for trading non-fungible tokens, or NFT. Thus, you will need to invest in ETH to join the NFT market. Second, and most importantly, the transition of ETH from a proof of work (as with BTC) into a proof of stake mechanism for the validation of new blocks into the ETH blockchain will make the process more efficient.
- 3. Decentraland
Any follower of decentralization and the metaverse is aware of Decentraland and MANA, the cryptocurrency of the metaverse. The currency illustrates that the metaverse can be accessible to everyone. Being the default currency of Decentraland, it follows that you may need to invest in it so that you can enjoy Decentraland.
While MANA is way below the $5.90 All-Time High it hit in November 2021, investing in it could be wise. Going by the trends in the market, getting in low could allow you to enjoy any bullish trends that may come from the partnerships MANA has begun developing over the past few months.
- 4. Binance Coin
Binance is one of the world’s largest cryptocurrency exchange. It follows that investing in the coin that undertakes most of the transactions in the exchange could be very good for you. Binance exchange incentivizes any persons on the exchange to pay fees and other transaction costs with BNB to use the discounts on the chain. As such, investing in BNB could benefit you in the long run.
- 5. USDT
While Tether is essentially not meant to increase or decrease value, having some USDT is quite advantageous, especially when you start out on cryptocurrency. USDT is a stable coin and is an efficient store of value as 1 USDT is meant to retain the value of 1$. Thus, if there is a high volatility on any coin you have, changing to USDT will save you the hustle of returning to fiat currency. You can weather out the storm of any currency by converting it to USDT.
What To Think About Before Investing In Cryptocurrencies
The first thing you should know before deciding to invest in cryptocurrencies is research is fundamental. The acronym DYOR, which means Do Your Own Research, reigns supreme in the cryptocurrency market. Cryptocurrency is one market with a lot of scam artists, quick to take any money from you. Even when you have not been scammed, investing in a cryptocurrency that goes down quickly can be devastating.
Secondly, the cryptocurrency market requires you to be very patient. Since the market is very volatile, any changes in the market can have drastic price changes. If you are not patient, you could sell your crypto at a loss, only to have the prices return quickly. Thus, only the investors willing to wait out any price changes will have massive gains in the long run.
Lastly, timing is critical in cryptocurrency investment. The cryptocurrency market is driven by a lot of emotions and sensitized news. When a new token joins the market, or there is an Initial Coin Offering (ICO) on a new coin, many investors are likely to jump into the market to make some money as the prices go up. This Fear of Missing Out, or FOMO, can be disadvantageous to you, especially if the coin lacks merit.
As such, avoid jumping on coins too early before you have time to evaluate its use-case scenario and merits.
While the five currencies above are an excellent pathway to wise investments in the last quarter of 2022, this is not a definitive list, even by a long shot. As stated above, doing your research will give you an edge in the market. Thus, using the information above, try and get the best currencies for your investment plans through additional research. Happy Investing!