5 Best Altcoins to Invest in 2022

Crypto Emma

Published in

Coinmonks

6 min readMar 22, 2022

If you are an investor or buyer like me, looking for reliable altcoins, then this article is for you.

In this article, I’ll give you an inventory of the 5 cryptocurrencies worth investing in 2022.

1. Ether (ETH)

Ethereum ranks first on my altcoin list. Ethereum is a decentralized, open-source blockchain with smart contract functionality. It allows decentralized applications (Dapp) to operate without the risks of third-party downtime, fraud, manipulation, or intervention. The goal of Ethereum is to build a suite of decentralized financial products that anyone in the world can freely access, regardless of nationality, race, or belief.

Ethereum applications are powered by crypto token, ether. Ether (ETH) is used to navigate the Ethereum network and is primarily sought after by developers who want to build applications and run them on Ethereum network, as well as investors who want to buy other digital currencies with ETH. Founded in 2015, Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin, but it is still a long way from becoming the “alpha cryptocurrency”.

In December 2020, Ethereum’s consensus mechanism started transition Proof of Work (PoW) to Proof of Stake (PoS). The change is designed to reduce Ethereum’s network energy consumption and allow faster transactions, and create a more deflationary economic environment.

The surprise brought to us by Ethereum is not only the increase of the currency price, but also the exploration and discovery of the crypto world.

2.Cardano （ADA）

Cardano (ADA) is a “Ouroboros Proof of Stake” cryptocurrency developed by engineers, mathematicians and crypto professionals using a research-based approach. Charles Hoskinson, one of the original five founding members of Ethereum, was one of the project’s founders. He left Ethereum and eventually helped build Cardano.

The Cardano blockchain was developed through extensive testing by the Cardano team and peer-reviewed research. Project researchers have published more than 120 research papers on blockchain technology, covering a wide range of issues.

Due to this challenging approach, Cardano seems to stand out from its POS peers as well as other major cryptocurrencies. However, Cardano is still in the preliminary stage. Although it has surpassed Ethereum in terms of PoS development, it still has a long way to go in terms of DeFi applications.

Cardano aims to become the world-class financial operating system by delivering Ethereum-like DeFi products and providing solutions for blockchain interoperability, voter fraud, and legal contract tracking.

ADA was in the limelight in 2021. Although hyped as it is, “beyond Ethereum”, there is still a big gap between its ecology and that of Ethereum.

3. Bitcoin Cash (BCH)

Bitcoin Cash is one of the first and most successful hard forks of the original Bitcoin and has an important history in the altcoin world. The split in the Bitcoin space was caused by disagreements between its developing communities and mining communities. Due to the decentralized nature of digital currencies, fundamental changes to the underlying code of the associated token or currency require broad consensus.

When the various groups cannot reach a common sense, the digital currency is split, with the original chain keeping its original code unchanged, and the new chain starting as a new version of the previous coin, full of code changes.

BCH was created in August 2017. The issue of scalability was at the heart of the debate that led to the creation of BCH. The Bitcoin network has a block size limit of 1 megabyte (MB), while that of BCH has been increased 8MB. The idea is that larger blocks can carry more transactions, thus increasing transaction speed.

In most cases, BCH price is positively correlated with Bitcoin: when Bitcoin goes up, so does BCH.

4. Polkadot（DOT）

Polkadot (DOT) is a unique PoS cryptocurrency designed to provide interoperability between blockchains. Its protocol is designed to connect permissioned & permissionless blockchains and oracles to allow systems to work together under one roof. The core component of Polkadot is its relay chain, which allows interoperability of different networks. It also allows parachains and their native tokens to be used for specific use cases.

Different from Ethereum, Polkadot allows developers to design their blockchains and benefit from the security provided by the Polkadot chain at the same time.

In usual cases, developers can use Ethereum to create new blockchains, but they must implement security mechanisms, which can leave smaller projects vulnerable because the bigger the blockchain, the more secure it is. Shared security is one of Polkadot’s biggest features.

Gavin Wood is Polkadot’s creator, he is also one of the other major Ethereum project co-founders.

Polkadot has proposed a cutting-edge cross-chain solution, from the mainnet launch to the parallel slot auction. Polkadot provides a unique solution to blockchain security issues, a long-term value is expected.

5.Filecoin (FIL)

Filecoin (FIL) is a cryptocurrency in the field of decentralized storage. As the world’s largest distributed storage system, Filecoin provides a set of advanced storage technologies. In Filecoin network, anyone in the world can contribute storage space. To maintain trust in a large decentralized network like Filecoin, there needs to be a way to build trust in the network itself. Filecoin is verified by Proof of Replication (PoRep) and Proof of Spacetime (PoSt). A verification mechanism that makes the data stored on the Filecoin chain safe and encrypted.

In addition, Filecoin also has the most robust lineup in the cryptocurrency industry: IPFS was born in the Protocol Labs protocol laboratory; its core team comes from Stanford University, MIT, Harvard and other world-renowned universities and nearly 100 talents from global technology companies such as Google, IBM, Oracle Inc, etc. And it has also received venture capital from entities such as Sequoia Capital, DCG Group, Stanford University Foundation, and Y Combinator.

As early as 2017, Filecoin’s ambitious distributed storage vision and technical roadmap have been recognized by countless capital and technical institutions, becoming the world’s largest ICO project.

Some call Filecoin “Bitcoin” in the storage field. Its value increased 10 times in less than a week in 2021. Although it was largely an investment bubble, it does not deny its unicorn status in the field of distributed storage. Its current price is extremely low, a good opportunity to invest.

Conclusion

What cryptocurrency gives us is not only monetary benefits, but also created decentralized projects that provide innovative approaches to our daily activities such as finance, gaming, organization. Therefore, hunting promising projects will be the key to making the right cryptocurrency investment choices.

Among the above-mentioned cryptocurrencies, Filecoin has the largest room for growth for two reasons: Filecoin is in the early stage of project development and has a large room for growth; the market demand for data storage can speed up the implementation of IPFS, whose governance token is Filecoin. Staking Filecoin at LuckyHash now yields 90% APY.

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