Knowledge base

From Bitcoin and Ethereum to XPR and Dogecoin, there are thousands of different cryptocurrencies. This can be overwhelming for beginners. We've compiled several promising investment options for 2022, based on market capitalization, total value of all tokens, and overall growth trends.

Bitcoin (BTC)

Capitalization: over $846 billion

Created in 2009 by an individual under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. Like most cryptocurrencies, BTC operates on a blockchain, or a ledger of transactions, distributed across thousands of computers. Since adding entries to this ledger must be verified by solving a cryptographic puzzle – a proof-of-work algorithm, Bitcoin is securely protected against fraud.

Since 2009, the price of Bitcoin has skyrocketed, gaining global recognition. In May 2016, you could buy BTC for around $500. As of October 1, 2022, its price hovers around $20,000, marking a growth of approximately 3,900% over recent years.

Bitcoin remains the most reliable investment option, especially for those new to cryptocurrency trading.

Ethereum (ETH)

Capitalization: over $361 billion

Ethereum is both a cryptocurrency and a blockchain platform. It is popular among developers for its decentralized applications, smart contracts, which automatically execute when conditions are met, and non-fungible tokens (NFTs).

Like Bitcoin, Ethereum has also experienced enormous growth. From April 2016 to early October 2022, its price jumped from $11 to $1,300, an increase of almost 12,000%.

In mid-September, Ethereum underwent a network upgrade that was revolutionary in the cryptocurrency world. All this suggests promising prospects for the cryptocurrency's further development.

XRP (Ripple)

Capitalization: over $37 billion

XRP is the cryptocurrency of the Ripple network, which serves an international payment system. It is used as a mediator for exchanging various types of currencies, including fiat. The main users of Ripple are international banks, which value the network's high transaction speed, low cost, and security.

At the beginning of 2017, XRP's price was $0.006. As of March 2022, its price reached $0.80, representing a growth of over 12,600%.