Meta Title: Top 5 Cryptocurrency To Invest In February 2022
Meta Description: Investment in cryptocurrencies has become mainstream today. We shall discuss the top 5 cryptocurrencies that investors can consider investing in February 2022.
Alt Text: Top 5 Cryptocurrency To Invest
Investment in cryptocurrencies has become mainstream today. In the past few years, many cryptocurrencies have entered the market, which can be categorized into multiple types like DeFi, NFT, Utility tokens, Value tokens, Yield farming tokens, etc. With the technological advancements, these cryptocurrencies are seeing many improvements regularly.
For investors, keeping a track of the different types of cryptos, their market value, and technological changes, and then making investment decisions can be a daunting task. In this article, we will talk about the top 5 cryptocurrencies that investors can consider investing in February 2022.
Best Cryptocurrency to Buy in February 2022
Market Cap: ₹26 trillion
Current valuation: ₹219,541
Ether is a crypto that is based on the blockchain technology called Ethereum which is a decentralized open-source blockchain, with smart-contracts functionality. Ether is one of the most popular crypto and has the second-largest market capitalization, right after Bitcoin. Even with the recent market crash ETH rose up the charts in Feb and is going strong. Since its release in 2016, ETH has seen tremendous growth.
Investing in ETH serves two purposes – it acts as an investment option and can also be stored in value. Ethereum is also one of the biggest players in the DeFi (Decentralised Finance) space. Decentralized Finance (DeFi) is a financial system that allows financial transactions to be done without any other intermediary – for instance, the banks. With the upcoming release of Ethereum 2.0, Ethereum is also slated to get an upgrade this year.
Market Cap: ₹2 trillion
Current valuation: ₹7,197
Launched in 2020, the cryptocurrency SOL runs on a decentralized blockchain – Solana. The USP of this blockchain is that it is developed to be easily scalable. It is capable of processing a large number of transactions per second at a lower fee compared to other cryptocurrencies. SOL uses PoS (Proof-of-Stake) and PoH (Proof-of-History) as consensus methods. Solana is known to be one of the quickest blockchains. The current favorites and the cool cryptocurrency NFT is also based on Solana. The two main advantages of investing in Solana are speed and low transaction costs.
Market Cap: ₹870 billion
Current valuation: ₹127.29
Polygon is a blockchain scalability platform that was formerly known as Matic Network. Polygon platform connects and builds blockchain networks compatible with Ethereum and offers a wide range of scaling architecture solutions for Ethereum like Matic PoS chain, Plasma Chain, and more. This results in a reduction of gas fees compared to using Ethereum directly.
The two reasons why Polygon is a promising cryptocurrency are: it is a blockchain network framework and its compatibility with the Ethereum virtual machine. Polygon has also become one of the prominent features of various DeFi protocols. To use Polygon, investors have to bridge their Ethereum assets on a Polygon network.
Market Cap: ₹2 trillion
Current valuation: ₹80.81
Cardano is a PoS (Proof of Stake) blockchain platform. It was developed on the basis of peer-review research and developed through evidence-based methods. It is known to be a sustainable cryptocurrency option that is developed on a technology that uses less energy and allows faster transactions.
Unlike other cryptocurrencies, Cardano is not minted. In Cardo’s case, depending on the ADA tokens possessed by validators, they are chosen by the network. The selected validators can place a bet on their confidence level to verify transactions. When the blockchain verifies the validator block, the validator wins and is rewarded with ADA tokens. Since its launch in 2017, Cardano has seen substantial growth.
Market Cap: ₹90 billion
Current valuation: ₹60.25
BAT or Basic Attention Token is perhaps one of the most unique cryptocurrencies of all. BAT is a native token for the Brave web browser. It is a blockchain-based system built on top of the Ethereum platform, that tracks consumers’ time and attention on the browser. The users of the BRAVE browser can be rewarded with BAT for watching ads, while advertisers get rewarded in the token for creating ads that capture the user’s attention.
There are many reasons why investors should consider investing in BAT like – its practical use case, partnership with brands like Verizon, Nexo, etc., purchasing options via credit cards or crypto assets, low entry barrier; and more. Since its launch in 2017, BAT has seen a consistent upward trend.
All cryptocurrencies mentioned above, have their unique technologies and plus points. Like any market investment, crypto markets also have their period of ups and downs. For investors, it is important to keep a tab on factors like valuation, market cap, news around the crypto market, have a diversified portfolio, and then invest judiciously.
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