10 Best Cryptocurrencies to Buy in February 2022
The following list contains the ten best cryptos to buy in February 2022.
1. Bitcoin (BTC)
Amidst the environmental concerns, some countries are already legalising Bitcoin and using it as a store of value. Bitcoin is worth $44,199 with a market cap of $841 billion.
The available supply is 2 million lesser than its total supply. Due to the halving that occurs every four years, experts predict that its price will surge between now and the next halving in 2024.
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2. Ethereum (ETH)
Ethereum is the first smart contract platform and has since been enjoying the first-mover advantage. Due to the concerns around the proof of work mining model, there are plans to move the blockchain to the proof of stake consensus algorithm.
A move that experts believe would do its adoption and price good. It costs $3,193.3 as of today, with over 110 million in circulation, having peaked at $4,878 in November 2021.
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3. Binance Coin (BNB)
This is the native token of the giant exchange- Binance. It is used for settling transactions and staking purposes. It has a market cap of $70.8 billion with a unit price of $421.05. For a coin that is regularly burnt, it has maxed out its entire supply.
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4. Polkadot (DOT)
Polkadot is a blockchain of blockchains that run at low costs and high speed. It is aimed at combating the three key issues of pioneer blockchains. DOT peaked at $54.98 in November 2021 but is worth $21.95 right now. DOT is used to run the network.
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5. Polygon (MATIC)
Polygon is a layer-2 blockchain created to solve the problems of the Ethereum blockchain. Asides from that, it supports Ethereum Virtual Machine. MATIC is used to run the platform and participate in governance. It costs $2.03 right now, with a market cap of $13.8 billion.
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6. Tether USD (UST)
UST is the stablecoin created by Terraform Labs on the Terra blockchain. Unlike most popular stablecoins, it is stabilised by smart contract algorithms. It is used to avoid the volatility of other cryptocurrencies during bear runs. It costs $1.00 with an available supply of 11.3 billion.
7. Monero (XMR)
Monero is the biggest privacy blockchain that supports private and censorship-resistant transactions. Ring signatures, stealth addresses, and ring CT are some tools used to make its transactions confidential and untraceable.
XMR, the native token, has an available supply of 18.1 million. It costs $183.52 right now, with a market cap of $5 billion.
8. Terra (LUNA)
Terra is a DeFi platform that enables users to create stablecoins. These stablecoins are stabilised by LUNA and smart contract algorithms. LUNA can be staked and used to participate in the platform’s governance. It costs $57.22 right now but peaked at $103.34 in December 2021.
9. Ripple (XRP)
Ripple is a blockchain that supports borderless transactions among banks, with over 200 banks already using it. It is faster and less costly than the traditional method. XRP is used to provide liquidity for these transactions. It costs $0.89 with a total supply of 100 billion and a market cap of $42.6 billion.
10. The Sandbox (SAND)
The Sandbox is a metaverse that enables creating and monetising gaming experiences. SAND is used to power the platform and to settle transactions. It experienced a price increase of over 7000% and costs $4.78 right now. It has a market cap of $4.9 billion, with over 1 billion currently in circulation.
Bottom line
While all these coins have great potential, you shouldn’t go ahead and invest in them without proper research. Cryptocurrency investment is very risky, so deal wisely.
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