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Undoubtedly, cryptocurrencies witnessed significant growth this year. Digital assets are acquiring mainstream exposure and the crypto space keeps on getting bigger. With Bitcoin (BTC) gaining around $40k this year and Shiba Inu (SHIB) making headlines as memecoins, the crypto world always has its hands full.
That said, more and more people are now investing in cryptocurrencies as they see it as the future of money. Likewise, investors are seeking out coins to buy for an even busier 2022. To make things easier, here is a list of the top 7 best cryptos that will likely make people rich in the coming year.
But bear in mind that as cryptocurrencies are volatile, things can change in the blink of an eye.
1. Cardano (ADA)
Cardano, built by the co-founder of Etherum (ETH), is a jurisdiction-less blockchain that is designed specifically for handling financial transactions with zero fees. This makes it faster than both Bitcoin and Ethereum.
ADA is forging ahead to provide more usability and accessibility to blockchain-based projects as its price continues to surge. In addition, it is the biggest cryptocurrency to use a Proof-of-Stake (PoS) blockchain. Therefore, it is deemed as an environmentally-friendly alternative to the conventional Proof-of-Work protocol.
2. WazirX (WRX)
WazirX, India’s leading crypto exchange platform, offers a smooth experience for Indian traders. With WRX as its native token, users can enjoy low trading fees and other exciting features. Even with cryptocurrencies’ tricky history in India, the industry seems to have an exponential increase in the country.
If the regulatory laws in India remain crypto-healthy, WRX will continue to strive. Although it is not in league with the top coins out there, WRX is one of the better cryptos available at an excessive discount.
3. Chainlink (LINK)
An atypical crypto, Chainlink trades at levels tantamount to traditional stocks than cryptos. Its network is composed of decentralized oracles that are essentially functional units that allow data transfer on and off the Chainlink network.
When it comes to effective use cases and functionality, Chainlink has it in the bag. It also allows for secure interaction and rewards readers who safely feed in reliable data. A leading oracle service, it has 300 partnerships so far.
4. Solana (SOL)
Solana is a fast and scalable innovative blockchain. It can process up to 50,000 transactions per second and offers outstandingly low fees. Moreover, Solana has exploited the potential behind Proof-of-History and other innovative techs. Its success lies deeply in the sheer number of people who already joined its network.
Like its main competitor Ethereum, Solana offers a high return on its risk profiles while maintaining to be volatile in price by nature, which makes it interesting for investors.
5. Chiliz (CHZ)
New to the crypto market, Chiliz lets sports fans trade Fan Tokens and Chiliz coins. They offer blockchain-based tools to different sporting entities. Hence, these companies utilize them to engage with an audience on different entertainment platforms. Chiliz brings teams and their fans closer together.
An Ethereum token that powers Socios.com, the platform enables its users to trade their support for their favorite professional sports team with other fans to receive rewards and promotions. At the same time, it also influences decisions through popular voting on the blockchain.
6. Stellar Lumens (XLM)
Since this year has been good to Bitcoin, Stellar Lumens also shared the same fate as it traded in correlation with BTC. Launched in 2014, it has revolutionized the way business works. Stellar Lumens’ decentralized system allows users to build their own digital representation of any virtual currency and trade them across a single P2P network without intermediaries.
Stellar has low transaction costs and time lags connected with blockchain. With 0.00001 XLM per transaction, gas fees are close to zero. Also, banks are beginning to adopt central bank digital currency using Stellar’s very own blockchain.
7. Monero (XMR)
Monero boasts its privacy feature. It is a digital currency that provides a consequential level of anonymity. Monero offers its users enhanced safety by masking their identities when transacting online. They are given a unique address or key that is not traceable to them, made possible by its end-to-end encryption system with Ring CT.
By using Monero, the sender will not know how much currency is available in the recipient’s wallet and cannot observe their transactions. With the ongoing increase in scams and crypto exploits, privacy and security are crucial now more than ever.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.