It has been a really long time since the cryptocurrency industry was first introduced and honestly, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace. Not just that, as mentioned, the industry has had a surge in its overall growth and popularity recently, thus helping it to reach greater heights!
Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.
To begin with, cryptocurrencies as the name suggest are nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.
In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.
Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.
That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.
Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, and Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course. In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.
Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.
Not just that, as per the chatter amongst some of the leading experts in the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.
Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, the Top 10 cryptocurrencies to buy in May 2022. To know more, I suggest you read further!
Top 10 cryptocurrencies to buy in May 2022
As some of you might know this already, financial markets are in a rough patch as the triple threat of inflation, geopolitical uncertainty, as well as rising interest rates, have managed to send potential investors racing to the exits. On a similar note, the cryptocurrency market to is down by nearly 22 percent to nearly 1.7 trillion dollars a year to date as just like others, it is not immune to these challenges. However, a few investors have noticed that this crash can be a rather great opportunity for them to buy quality assets at a discount.
1. Bitcoin (BTC):
Bitcoin has been around for quite some time now, which is probably the longest as compared to any other currency out there. It is easy to see why it is the leader, with a price and market cap that is much higher than any other crypto investment option in the marketplace. Having said that, still dominating in popularity and market cap, Bitcoin is not going anywhere soon! It still makes headlines and is definitely what people think about when they hear the term cryptocurrency.
However, the experts are still deciding upon whether or not Bitcoin is a safe haven asset, which is a type of investment that can actually prove reliable to hold and can even gain some value during economic downturns. Just recently, BTC’s price dropped below 29000 dollar level and it is true that the currency has fallen behind newer crypto in technical capabilities but is as strong as ever and is dominating the industry. Lastly, know that, with a market cap of about 700 billion dollars, Bitcoin is known to represent more than 41 percent of the entire crypto marketplace.
2. Aave (AAVE):
Aave is a class of cryptocurrencies that are referred to as decentralized finance (DeFi) and is said to be focused on replacing traditional financial services like banks with several blockchains based equivalents in order to give investors much more options and control over their wealth, along with allowing users to lend as well as borrow currencies. According to recent reports, with a market cap of about 1.9 billion dollars, Aave is known to be down by nearly 79 percent from its all-time high which it managed to reach in May the last year.
However, the asset’s first cheap valuation as well as innovative fintech use case give it a rather impressive long-term potential, which is the reason why it seems like a great opportunity for buying crypto in 2022.
3. Ethereum (ETH):
The Ethereum blockchain is nothing but an open-source public blockchain, that has been focused on enabling the end-user to run custom codes with its smart contract feature. In other words, Ethereum is an open-source blockchain platform that is known to offer decentralized app developers a way to host and construct Dapps that incorporate smart contracts. Being the second-largest cryptocurrency in the world, Ethereum has an enormous potential within the realms of NFTs and DeFi.
Also, Ethereum is known to have launched Ethereum 2.0 as the fastest-growing cryptocurrency in the volatile crypto market. In addition to this, Ethereum 2.0 is here to solve the remaining concerns and problems of Ethereum in order to win against several competitors and simply attract crypto investors to crypto wallets.
Lastly, talking about whether it is a good business opportunity in 2022, I believe though as per recent reports, the overall price of the currency has decreased by 5.29 percent to about 1957 dollars in the past 24 hours or so, I still believe that, seeing what is offers and the market standing it has, while also considering the fact that, it is currently the second-largest crypto asset in terms of the market capitalization, of course, it is a rather great investment opportunity as of May 2022.
4. Ripple (XRP):
Ripple or as commonly referred to as XRP is nothing but a platform that specializes in cross-border payments for financial institutions and banks. Facilitated via popular blockchain technology, Ripple and XRP transactions are known to not take more than five seconds to process which is extremely fast.
Also, whichever fiat currency is being transacted, XRP transactions are said to typically cost a small fraction of one cent, thus making it highly cost-effective and efficient. Lastly, more than 200 banks worldwide are either tested or making use of the Ripple Network to transact.
Coming should you invest in it as of today, considering that the currency has ranked the 6th largest virtual asset in terms of capitalization, in the past week, despite of the current market crash, XRP has increased by 4.45 percent. However, in the past 24 hours or so, the value of the coin has decreased by about 2.53 percent to nearly 0.4085 dollars. All in all, I think it would survive In the long run and is a great investment for 2022.
5. Tether (USDT):
Unlike several other forms of virtual currencies, Tether is a stablecoin, which means that it is backed by various fiat currencies like the Euro and the US Dollars, while hypothetically keeping a value equal to one of those denominations. Basically, Tether is a virtual currency that is said to be hosted on the Bitcoin and Ethereum blockchain, among several others, with a market cap of over 79 billion dollars. It is majorly used by investors who want to avoid the extreme volatility of various other currencies in the marketplace while keeping value. Considering all the facts and the current scenario, Tether also looks like a decent investment opportunity as of May 2022, which could get you good returns.
6. Shiba Inu (SHIB):
Shiba Inu is nothing but an Ethereum-based meme coin that is known to feature the Shiba Inu hunting dog as its mascot and is widely considered as an alternative to the popular Dogecoin. Not just that, Shiba Inu is said to be one of the fast-growing currencies with an expectation of high performance in 2022. Also, the currency has successfully managed to enter the list of top 10 cryptocurrencies in the volatile crypto market for a short period.
7. Binance Coin (BNB):
Binance Coin is nothing but simply a product of the Binance Exchange and is said to be one of the biggest cryptocurrency exchanges all across the globe, in terms of trading volume of course. Binance is known to support more than a hundred cryptocurrencies to trade and its BNB coin is used to perform several operations over the Binance Exchange, such as withdrawal fees, exchange fees as well as listing fees. Also, users who hold BNB can get a massive reduction in trading fees while also benefitting from price increases.
Having said that, as compared to its price back in 2017, which was around 0.10 dollars, it has moved up to nearly 413 dollars as of March 2022, resulting in a gain of about 410,000 percent. However, due to the recent market scenario, in the past week, BNB has increased by 13.2 percent but if we talk about the last 24 hours, the Binance coin has decreased by 2.95 percent to about 295 dollars. Having said that, seeing its past records and its market image, I believe this could be a great investment to earn high rewards in the future.
8. Avalanche (AVAX):
Avalanche is a smart contract-driven blockchain network that is known to offer amazing compatibility and speed, which helps in making it a rather logical choice with which to develop decentralized applications (DApps). Not just that, AVAX is amongst the largest cryptocurrencies as per market cap, the one that really excites me the most and definitely has a realistic chance of tripling in value this year.
Launched back in 2020, Avalanche is said to be one of the fastest-growing cryptocurrencies with a market cap of over 22 billion dollars for high speed, scalability, as well as compatibility of the blockchain network as it is known to efficiently process over 4500 transactions per second (TPS). As compared to July 12, 2020, to March 1, 2022, AVAX’s price has risen more than 1,840 percent, from 4.63 dollars to nearly 89.84 dollars. The coin currently trades at around 28.38 dollars.
9. Terra (LUNA):
Terra is nothing but simply a blockchain payment platform for stablecoins that is said to rely on keeping a balance between two types of virtual currencies. Terra-backed stablecoins, like TerraUSD, are tied to the actual value of a physical currency, while on the other hand, their counterweight, Luna, powers the Terra platform and is made use of to mint more Terra stablecoins.
Both of these are known to work in concert as per the overall demand and supply, which means that, when a certain stablecoin rises in value more than its tied currency’s value, users are said to incentivize in order to burn their Luna to create more of that Terra stablecoin. Basically, as the adoption of Terra platforms grows, so does the value of Luna.
Having said that, as compared to January 3 the last year, when the price of the token was 0.64 dollars, as of the beginning of March 2022, Luna has risen to over 92 dollars, which is an increase of nearly 14,200 percent. All in all, it seems like Terra can fetch you a good return in the long run based on its past performance and recent trends.
10. NEAR Protocol (NEAR):
NEAR is said to be a platform that is known to be building an ecosystem that already includes several decentralized exchanges like Ref Finance, NFT platform like Parasand Mintbase as well as lending protocol, Burrow. Not to mention, the platform has substantial firepower behind it from some of the crypto’s major venture capitalists including Jump Crypto, Tiger Global, Three Arrows Capital, and more. Also, in January this year, NEAR managed to raise about 150 million dollars and then followed this up with a 350 million dollars funding round last month.
While NEAR is said to be the 19th largest cryptocurrency as per the market cap at about 9 billion dollars, it is still not available on many major US exchanges like FTX and Coinbase. Lastly, considering all the facts and figures, I believe this too can prove to be a rather great opportunity for investment in May 2022.
Reading so far, I hope you must have gotten a fair insight into the Top 10 cryptocurrencies to buy in May 2022 and I believe, now you’ll be and now you will be able to decide on your own as to would you want to invest in these currencies or not!
As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, you need to understand the fact that all cryptocurrencies have their risks as well and you should invest only if you are willing to take those risks and bear any losses if at all necessary.
In conclusion, what are your thoughts on the Top 10 cryptocurrencies to buy in May 2022? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!