Is it Worth Investing in Cheap Cryptocurrencies?
Time and again crypto investment model has proved to provide its investors with better returns on their investments. Globally, there is a growing acceptance of cryptocurrency and its investment model. The concept of blockchain technology and decentralized finance is another reason for the growing acceptance. While Bitcoin was launched in 2009 many other cryptos also followed suit. Today, there are more than 14000 cryptos in the global market attracting investments. The overall market capitalization of cryptocurrencies currently stands at $2 trillion. While Bitcoin was launched at $1, today the same coin stands at $40K over 10 years.
Investments in Bitcoin are a bit pricey today. However, if you are interested in crypt investments then there are other alternate and cheap coins that you can choose. Many companies today accept crypto payments. Most government and economy is currently studying this investment model and making attempts to create a governance model around crypto investments. The recent on the list is India. While the country ranks first in crypto investments, it was also announced that the government will launch its native digital currency backed with blockchain technology.
Considering the growing interest, let us look at some cheap cryptocurrency that is worth investing in 2022.
This is one of the fastest-growing cryptocurrencies. This crypto coin aims at improving the online lottery gaming industry. The crypto-token uses blockchain technology and you can buy a ticket using its naïve token. The entire gaming pattern is transparent and does not allow room for doubts and malpractices. Investors from all over the world can participate in this online gaming platform through 1k daily profit software.
This is another lucrative investment for 2022. This platform is secure and allows for faster transactions at minimal speed. The recent announcement by Deloitte to partner with an avalanche to develop a secured platform is another attractive factor in gaining investment. Avalanche deploys a scalable platform and allows for a dual consensus model during every transaction.
While Cardano is not new in the crypto market, this coin has been gaining immense popularity and attention recently. The three selling factors including sustainability, scalability, and ability to interoperate have attracted maximum investments. Recently, Cardano also upgraded their existing features enabling it to undertake smart contracts. The platform also boasts the ability to accept decentralized applications and low transaction fees.
Dogecoin is today famous for being the favorite of Elon Musk. After several ups and downs in the crypto market, this coin has now emerged as a strong competitor for others in the market. The coin has been able to provide its investors with a fair amount of ROI. Another factor attracting global investment on this coin is the acceptance by Tesla. Interested users can buy Tesla merchandise using Dogecoin on their online shopping sites.
Polygon is famous amongst investors for allowing easy transactions and better traffic management. The platform is Ethereum supported and deploys sidechain technology to manage traffic. This became revolutionary in the market by developing a technology overcoming the shortcomings of Ethereum. Polygon utilized four-layered architecture to ensure that every transaction is faster and undertaken at lower transaction charges.
The last on the list is Solana. Solana became popular through its proof of stake philosophy. Unlike other cryptos that use proof of work, Solana came out with a different strategy altogether. For every coin, you wish to purchase you are staking a part of your existing investment. The mathematical puzzle is simple and easy to solve thereby ensuring that your investment is secure and not lost.
Now that you have a fair idea of cheap cryptos in the market, let us take a deep dive into things to keep in mind before investing in cryptocurrency.
The cryptocurrency market is highly volatile and price fluctuation is a common phenomenon. Make your investments if you have a high-risk appetite. This type of investment is not for the weak-hearted who wishes to make long-term profits. You can always witness prices going up and down without the ability to predict.
Every crypto transaction is secure. The concept of decentralized finance and blockchain makes it impossible for any hacker to trace back to an investor. During the past ten years, there have been seldom cases reported on crypto hacking.
(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)