2021 truly belonged to cryptocurrencies and blockchain, with crypto adoption growing across geographies, institutions, and corporations like never before. While the top cryptocurrency list had every token reaching its new ATH, other low market cap cryptos became some of the most popular cryptocurrencies among the traders in India. Cryptocurrencies have moved beyond their speculation-driven phase and are considered a viable investment option, given their distinction as innovation assets with little correlation and compounding network value.
Here’s a rundown of the 12 cryptocurrencies that would be the top favorites of any trader looking to buy cryptocurrency in India 2022.
1. Bitcoin (BTC)
Bitcoin was the first-ever cryptocurrency that came into being in 2008. Its founder Satoshi Nakamoto released a whitepaper stating the bitcoin network as a peer-to-peer network affecting payments without any financial intermediaries. With a current market capitalization of around $730 billion, it is still the most prominent cryptocurrency despite shunning almost 45% of its value since it reached its ATH ($68,000) in November 2021. Bitcoin is one of the most popular cryptocurrencies from among the top cryptocurrency list for trading in India. The crypto has seen multiple meltdowns and jumps since its inception, but its high liquidity will benefit traders as long as it exists regardless of market condition. The price of one BTC as of 2 February 2022 was around $38,530.
2. Ethereum (ETH)
The second-largest cryptocurrency by market cap, Ethereum, is another top favorite from the top cryptocurrency list in 2022. It was launched in 2013 as a smart contracts compatible blockchain network that can be used for hosting decentralized applications and platforms. The defi craze in the summer of 2021 had over 80% of the decentralized applications being launched via the Ethereum network. Ethereum’s smart contract capabilities have been the infrastructure behind the NFT boom as well. Ethereum will shift to the PoS consensus under its set of ETH 2.0 upgrades and will be a hot choice for traders who want to buy cryptocurrency in India. One Ether is priced at $2,685 as of 1 February 2022.
3. Litecoin (LTC)
Litecoin was launched in 2011. It was among the first cryptocurrencies in the market after Bitcoin. Often referred to as the silver to Bitcoin’s gold, it was created by Charlie Lee, an MIT graduate, and former engineer. Even though Litecoin is similar to Bitcoin in many ways, it has a faster block generation rate which offers faster transaction confirmation time. Today thousands of merchants and e-commerce portals accept Litecoin as payment. One LTC is priced at $109 and is one of the most popular cryptocurrencies that traders and investors will pursue in 2022.
4. Cardano (ADA)
Cardano was launched in 2017 by Ethereum’s co-founder Charles Hoskinson. Cardano, another crypto from the top cryptocurrency list, has a laid-out roadmap of five stages to become a truly self-sustained decentralized ecosystem. The Cardano Network recently integrated smart contracts capabilities on its network and is one of the potential ‘Ethereum Killers’ on the scene. Given its robust vision and reliance on sound projects and partnerships, Cardano has the capability to stand the test of time and will be a favorite for whoever wants to buy cryptocurrency in India. One ADA token is priced at $1.05 as of 1 February 2022.
5. Polkadot (DOT)
Another Ethereum co-founder, Gavin Wood, collaborated with Robert Habermeier and Peter Czaban to create Polkadot. They aim to create and connect decentralized apps, utilities, and organizations via Polkadot’s network. In addition, their website assures data and identity security for ultimate user control. Polkadot is one of the most popular cryptocurrencies, given its scalability and interoperability. It holds great potential in the upcoming web3 internet. One DOT token is currently priced at $18.80.
6. Ripple (XRP)
Ripple is a cryptocurrency, payment exchange system, and network launched in 2012. It promises a faster and more efficient way to ensure global payments. RippleNet allows third-party developments for other uses of XRP. Read this blog to know more about Ripple. One XRP token is currently priced at $0.62.
7. Uniswap (UNI)
Hayden Adams created the leading decentralized crypto trading protocol as a platform facilitating the exchange of ERC-20 tokens efficiently and quickly without the requirement of a third party. The Uniswap ecosystem is a growing network of Defi apps with 300 integrations involving developers, traders, and liquidity providers participating together. Being the largest DEX in the crypto space, it is one of the most popular cryptocurrencies traded in India. One Uniswap token is currently priced at $11. Any trader looking to buy cryptocurrency in India should consider making Uniswap a part of their portfolio, given the current defi surge.
8. Dogecoin (DOGE)
Developed by Billy Markus and Jackson Palmer, both software programmers, Dogecoin was the first-ever meme coin developed to mock the volatility of the Bitcoin network. The Shiba Inu-inspired crypto is in the top cryptocurrency list by market cap. After Elon Musk posted a series of tweets in its favor, it skyrocketed in value. The likes of influencers, including Mark Cuban and Musk, continue speaking in its favor, and recently, Wall Street-listed AMC entertainment started accepting payments in Dogecoin. If you consider buying cryptocurrency in India, you can read this blog on what dogecoin is and how to buy dogecoin in India. One Dogecoin is priced at $0.14 as of 1 February 2022.
9. Binance Coin (BNB)
Binance Coin runs on Ethereum technology. The BNB token was launched by the world’s largest cryptocurrency exchange platform Binance. The token powers the Binance ecosystem and has several applications and benefits, such as it can be used to avail discounted fees on the trading platform. Being one of the most popular cryptocurrencies, it can be bought and sold easily at any exchange. One BNB is currently priced at $385.5 and has consistently remained on the top cryptocurrency list.
10. WazirX coin (WRX)
WazirX’s utility token is called WRX. For the circulation of the 1 Billion WRX tokens, Binance Chain (Binance’s blockchain) is used. By purchasing WazirX coins, users can continue to help build WazirX and receive rewards as well. In addition, WRX allows the coin’s early adopters with incentives like fee reduction and more perks. One WRX is priced at $1.03 as of 1 February 2022.
11. Bitcoin Cash (BCH)
Bitcoin Cash holds an important place in the history of altcoins; BCH was launched in August 2017 after a split from the original chain of Bitcoin. The Bitcoin network has a 1 megabyte (MB) limit on the size of the blocks, while the BCH hard-fork was implemented to increase the block size from 1 MB to 8 MB. This upgrade allows the blocks to hold more transactions within them. This also leads to an increase in transaction speed. BCH has huge potential as a payments gateway and can be a potential candidate for the top cryptocurrency list. One BCH is priced at $287.9.
12. Stellar (XLM)
Stellar was founded by Jed McCaleb, who was earlier a developer of the Ripple protocol. It is an open blockchain network that connects financial institutions for large transactions and provides enterprise solutions. The system allows cross-border transactions between any currency. Stellar’s currency called Lumens (XLM) is one of the most popular cryptocurrencies in India. One XLM token is currently priced at $0.23.
Why should you choose WazirX?
WazirX is India’s most trusted cryptocurrency exchange, which lets you buy, sell, and trade numerous crypto assets like Bitcoin, Ethereum, Ripple, Litecoin, etc. The platform is accessible via a website or an app available on Google Play Store, Apple App Store, Windows, and Mac OS. WazirX is highly secure, has superfast KYC, lightning speed transactions, simple and practical design, excellent customer service, and more such features.
If you are a new investor or professional trader, WazirX has got you covered!
The post 12 Cryptocurrencies You Should Buy and Hold in India 2022 appeared first on WazirX Blog.