Cryptocurrency markets are volatile. The cryptocurrency value for particular coins or tokens varies greatly. Due to such a high fluctuation rate, experts advise traders not to buy crypto based on their values. Instead, buy cryptos based on the cryptocurrency market cap.
It is vital that you research cryptocurrency prices and then start trading. That way, you can identify the best tokens to invest in. To help you out, here is our list of the best cryptos for May 2022.
#1 Bitcoin
If you want to invest in cryptocurrency, you should buy Bitcoin. Period.
Bitcoin is the first and best-known cryptocurrency. It has the most money flowing into it, and more developers are working on it than any other coin. Its price is also the most expensive of any other cryptocurrency at $35,000 per coin.
Bitcoin is a deflationary currency that will benefit from an infinite demand curve due to its limited supply of coins. The supply gets cut by 50% every four years, which means that Bitcoin is more like digital gold than a currency for everyday transactions.
#2 Litecoin
Litecoin is a cryptocurrency that was launched in 2011 as an alternative to Bitcoin. Its founder, Charlie Lee, intended it to be more like silver than gold, and thus its name. Litecoin’s initial value in 2011 was $3 per coin. Now it is worth over $175 per coin. It has been a top ten cryptocurrency since 2013 and has held its spot for the past two years.
Why should you invest in Litecoin? In 2017, the price of Bitcoin skyrocketed from $1,000 to nearly $20,000 by December 2017, with many fluctuations along the way. However, after the new year began, Bitcoin’s value dropped back down and continued fluctuating between $10-15k ever since. The main reason for this is that people are just not buying cryptocurrencies like they used to—and if they do buy them, they don’t hold onto them for long because no one knows where their prices will go next!
#3 Polkadot
Polkadot is a multichain network that connects private and public chains, oracles, and future technologies to allow for secure and low-cost transactions. Polkadot is possibly the most scalable blockchain technology available, with the ability to process thousands of transactions per second without compromising security.
While Polkadot has an ambitious roadmap for 2021, it has delivered on many of its promises in 2020. The launch was a huge success, with DOTs now trading on major exchanges. In addition, para chains have allowed developers to build their blockchains. Polkadot has also introduced the first version of stateless clients, which will be used to build applications on top of the network.
#4 Chainlink
Chainlink is a decentralized oracle network that connects smart contracts on its platform to data from the real world. It has been designed so that these smart contracts can serve many purposes in the real world by being able to connect to data providers, web APIs, enterprise systems, other blockchains, and any other available API resource on the internet. Chainlink enables this by allowing users to connect off-chain resources into smart contracts using Chainlink’s specialized oracles.
#5 Dogecoin
Dogecoin is a type of cryptocurrency that began as a joke and went on to become a serious investment. First released in 2013, the coin was named after an internet meme featuring pictures of Shiba Inu dogs: think of it as the little brother to Bitcoin. But Dogecoin has become so much more than just a meme coin. Its market cap is over $40 billion, and its price in 2022 is currently $50.
The cult following and low price tag have made Dogecoin accessible and easy to buy, making it popular among investors looking to start investing in cryptocurrency.
#6 Tether
Tether is a stablecoin that has been developed to provide a haven for investors during times of market volatility. It is the most popular stablecoin and has the highest volume among all the stablecoins available in the space right now.
Tether is pegged to the US Dollar, making it easy for traders to participate in market movements without worrying about volatility. One can turn into USDT very easily as well, and be sure that you will receive your money back in USD after some time.
If you believe that Bitcoin or Ethereum might crash without any reason, you should use USDT to hedge your position and protect yourself from losses. You can convert your BTC/ETH holdings into USDT before such an event happens, so even if there’s a crash, you will still be able to recover most of what you lost because USDT won’t crash as other cryptocurrencies do.
Study the cryptocurrency prices and markets every month before investing. That way, you will not have to worry about losing money in this trade.
