There are dozens of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, which might be confusing when you’re just starting to start in the world of crypto. To help you get started, these are the top ten cryptocurrencies in terms of market capitalization, or the total value of all coins currently in circulation. let’s have a look into the best cryptocurrencies to invest in february 2022.
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Bitcoin (BTC) has a market capitalization of more than $730 billion.
Bitcoin (BTC) is the initial cryptocurrency, created in 2009 by someone using the pseudonym Satoshi Nakamoto. BTC, like most cryptocurrencies, is based on a blockchain, which is a ledger that records transactions over a network of thousands of computers. Bitcoin is maintained secure and safe from fraudsters because updates to distributed ledgers must be confirmed by solving a cryptographic problem, a process known as proof of work.
As Bitcoin has become a household brand, its price has risen. In May 2016, a Bitcoin could be purchased for around $500. A single Bitcoin was worth moreover $38,000 on February 1, 2022. That equates to a 7,600% increase.
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Ethereum (ETH) has a market capitalization of more than $327 billion.
Ethereum, which is both a cryptocurrency and a blockchain platform, is a favourite among programmers because of the possible uses it offers, such as smart contracts that run automatically when certain conditions are satisfied and non-fungible tokens (NFTs).
Ethereum has grown tremendously as well. From April 2016 to February 2022, its price increased by approximately 25,000 per cent, rising from around $11 to over $2,700.
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Binance Coin (BNB) (BNB) Over $63 billion in market capitalization
The Binance Coin is a type of cryptocurrency that may be used to trade and pay fees on Binance, one of the world’s largest cryptocurrency exchanges. Binance Coin has grown beyond just conducting deals on Binance’s exchange platform since its inception in 2017. It is now possible to utilise it for business, payment processing, and even organising trip plans. It may also be traded or swapped for other cryptocurrencies like Ethereum or Bitcoin.
It was just $0.10 in 2017; on February 1, 2022, it has climbed to nearly $377, a gain of approximately 377,000 per cent.
Also. read our article on Litecoin and Ethereum here
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Cardano (ADA)Over $35 billion in market capitalization
Cardano, which arrived on the crypto market later, is famous for its early acceptance of proof-of-stake validation. By eliminating the competitive, problem-solving part of transaction verification seen in systems such as Bitcoin, this solution reduces transaction time, energy use, and environmental effect. Cardano, like Ethereum, uses ADA, its native token, to allow smart contracts and decentralised apps.
Cardano’s ADA token has grown slowly in comparison to other major cryptocurrencies. In 2017, the price of ADA was $0.02. Its price was $1.05.01 on February 1, 2022. This is a 5,150% gain.
Also, read our article on the Future Of Cryptocurrency in 2022 and Beyond here
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Solana (SOL) has a market capitalization of more than $33.5 billion.
Solana, which was created to support decentralised financial (Defi) applications, decentralised apps (DApps), and smart contracts, is based on a unique hybrid proof-of-stake and proof-of-history method that allows it to execute transactions rapidly and safely. The platform is powered by SOL, Solana’s native cryptocurrency.
SOL’s pricing when it appeared in 2020 was $0.77. By February 1, 2022, its value had risen to over $100, representing an increase of nearly 13,000 per cent.
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Polkadot (DOT) has a market capitalization of more than $19 billion.
Cryptocurrencies can utilise any number of blockchains; Polkadot (and its namesake coin) intends to unify them by building a cryptocurrency network that connects the different blockchains so that they can function together. This integration has fostered significant growth since Polkadot’s introduction in 2020, and it has the potential to transform how cryptocurrencies are managed.
Conclusion
There is no way around it: Cryptocurrencies had a disastrous start to the year, with several of the world’s leading digital assets quickly falling into bear-market territory. To make matters worse, the sell-off coincided with a larger collapse in the stock market — the worst January for equities since the depths of the 2008 financial crisis. If anything, the first month of the year should highlight the enormous risk tolerance required of crypto investors. If a 30% drop in a month is too volatile for you or would compel you to sell, this is not the asset class for you. However, for those ready to tolerate high risk and a rocky ride, February appears to be a great entry moment for top stocks.
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Also, read our article on how to invest in cryptocurrency in India here
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