In 2022, five cryptocurrencies can triple your money
Last year, the value of the cryptocurrency market roughly quadrupled
Despite these large gains, this broad mix of cryptocurrencies might make investors even wealthier in 2022.
1. Avalanche
The one that excites me the most and has a genuine probability of doubling in value this year among the major cryptocurrencies by market cap is Avalanche (CRYPTO: AVAX)
Avalanche is a smart contract-driven blockchain network with exceptional speed and interoperability, making it a natural choice for decentralized application development (dApps). Smart contracts are a protocol that aids in the verification, facilitation, and enforcement of contract negotiations between two parties
The blockchain-based network, according to Avalanche's development team, can execute more than 4,500 transactions per second (TPS) and has a block finality of fewer than two seconds. To put this into perspective, the two most widely used blockchain networks, Bitcoin and Ethereum, can handle 7 and 13 TPS, respectively
It also has a block finality of under two seconds. To put this in perspective, the two most prominent blockchain networks, Bitcoin and Ethereum, can process 7 and 13 transactions per second, respectively, and complete transactions in 60 minutes and six minutes. That's how much more efficient Avalanche is compared to the most widely used cryptocurrencies.
2. Qtum
If you're looking for something a little less mainstream, Qtum (CRYPTO: QTUM) (pronounced "Quantum") is a cryptocurrency that has the potential to treble your money by 2022.
Bitcoin and Ethereum are popular with investors, as seen by their market capitalization supremacy. These networks, however, have several disadvantages. They're sluggish, clogged, and sometimes come with exorbitant transaction costs.
Qtum is a blockchain project that tries to merge the greatest features of both networks into a single project.
The Qtum blockchain combines the Ethereum Virtual Machine with the extremely secure UTXO transaction architecture from Bitcoin. As a consequence, a secure network capable of supporting smart contracts has been created. In other words, Qtum may be used to transfer payments or as a hub for the creation of decentralized apps (dApps), such as decentralized finance (Defi) applications. It's another sensible alternative for dApp developers, with minimal transaction costs and the potential to handle 70 TPS.
3. Stellar
I'll be the first to admit it: Payment coin-based networks, aside from Bitcoin, don't receive much attention in the crypto world. But if there's one that should, it's Stellar (CRYPTO: XLM), the world's 27th-largest digital currency in terms of market capitalization.
Consider the following scenario: You have US dollars in your pocket and wish to send money to a friend or family member in the United Kingdom. With standard banking procedures, validating and settling this transaction may take a week using today's technology.
4. Nano
If you thought Qtum was obscure, let me introduce you to Nano (CRYPTO: NANO), the tiniest digital currency on the list, with a market cap of little over $500 million. Nano, despite its diminutive size, might be a big winner for patient investors this year.
Nano, like Stellar, is a payment-network token that focuses on speed, scalability, and utterly outperforms existing payment infrastructure.
5. Axie Infinity
The metaverse is undoubtedly the hottest concept in the bitcoin market right now. Investors are particularly enthusiastic about the promise of decentralized, blockchain-based virtual worlds. Axie Infinity (CRYPTO:AXS) is leading the push, with the potential to treble investors' money by 2022.
Axie has created a popular play-to-earn game based on the Ethereum blockchain that has gained a lot of traction in recent months. Axies are monster-like figurines that players gather, nurture, breed, and combat. A user must have a minimum of three Axies to enter battle. The winner of these bouts obtains experience points, which may be utilized to enhance their Axies, much as in conventional games.