Best Top 5 Crypto Coins in 2022 [All you Need to Know]

Updated: Dec 28, 2021

This year has been exciting for anyone invested in the crypto-coins market in 2022. There have been some huge gains for popular blockchain crypto coins like Bitcoin, and Ethereum, which are the two most popular coins, with the largest market cap as well. Like the traditional stock markets, cryptocurrencies have become somewhere people can make money by, investing in trending coins, or specific blockchain companies.

Best crypto coins in 2021 & 2022

However, unlike the stock market, crypto markets are much more volatile, and you should really understand the companies connected with the crypto coins you are looking to buy.

When you properly break down any cryptocurrency into reliable, accurate information, it’s easier to see that there are clear-cut winners. So, let’s break down the best, top 5 crypto coins in 2022!

What is Cryptocurrency?

Just like any call on value, cryptocurrencies are the call on the stored value that can be great investments, due to their inherent value, through blockchain, a cutting-edge technology breakthrough.

Most cryptocurrency is decentralized and autonomous, meaning they aren’t governed by a centralized authority and operate without human influence.

Typical crypto currencies are open-sourced computer code that is accessible to everyone who owns that cryptocurrency and transactions are typically recorded on their public ledger.

What is Bitcoin (BTC)?

Bitcoin (BTC) was the first crypto coin, which was started back in 2009, by Satoshi Nakamoto, and has become the most popular crypto coin, with the largest market cap of slightly under $1 trillion dollars. Bitcoin is decentralized blockchain technology, which was created to be a peer-to-peer payment system.

Anyone can buy, send, and receive Bitcoins by simply having a Bitcoin wallet account. Not to mention that Bitcoin transactions are cheap, and reach anywhere around the globe, anytime.

The transactions that take place on the Bitcoin blockchain get recorded on a public ledger, which gets updated by thousands of computers on the network, simultaneously. Bitcoin has proven to be hackproof and has operated perfectly, without being hacked, and free from fraud, since its inception 14 years ago.

The largest drawback of Bitcoin is proof of work, the process of solving increasingly harder mathematical equations, by supercomputers, to expand the Bitcoin chain, block, by block. These miners are awarded amounts of Bitcoin for solving these equations and expanding the network.

However, proof of stake processes takes large amounts of electricity to power the miner’s computer rigs. Some people say Bitcoin is not the best for the environment for that reason.

What is Ethereum (ETH)?

Ethereum (ETH) is the second-largest cryptocurrency and the backbone that powers the entire De-Fi universe. ETH are the coins that power Ethereum transactions and have proven to be a positive investment for many people who adopted its technology early.

Ethereum’s market cap in 2021 is hovering around $485 Billion, with each ETH coin valued just shy of $4,100.

Also, Ethereum is the backbone for Decentralized Finance, or De-Fi, which powers every other Altcoin out there. As Bitcoin is the gold standard of storing value, like money, Ethereum is the internet of tomorrow, that everything might be powered and attached to.

Ethereum is more eco-friendly because it doesn’t require the power-hungry proof of work process to produce new blocks in the chain.

On the contrary, Ethereum allows those who own ETH, to decide the best ways to evolve Ethereum, which is known for proof of stake expansion. This process doesn’t require intense mathematical equations to be solved. Instead, people with large amounts of ETH, or small amounts, benefit when the new Ethereum blockchain gets created.

Ethereum allows anyone to create their own blockchain, or Decentralized Apps (DAPPS) and run their entire platform from the Ethereum network. There are currently thousands of DAPPS running all sorts of different platforms, smart contracts, and major companies like VISA, Wells Fargo, and TESLA, are beginning to create themselves within the Ethereum network.

Some critics say that Ethereum fees, known as GAS, are too expensive and need to come down in price. The truth is that Ethereum’s GAS fees are higher than ever before, due in part, to the massive number of transactions being processed every second on Ethereum.

Watch out for Ethereum 2, which is already being built and is supposed to be far faster and less expensive to run, than Ethereum currently is.

What is Binance Coin (BNB)?

Founded in 2017, Binance has become the world’s largest crypto exchange, according to daily trading volume. Created by Changpeng Zhao, a trader who was involved with high-frequency trading software, Binance exchange provides a relatively safe platform to trade cryptocurrencies, Bitcoin, and thousands of altcoins these days.

Binance coin is the cryptocurrency for use on the Binance exchange, and is currently the 3rd largest crypto coin by popularity and market cap, which hovers around $94 billion today. Binance coins are the crypto used to pay fees on Binance, and users who pay on the exchange with Binance coins typically get discounted pricing as well.

What is Tether (USDT)?

Tether is a cryptocurrency that is called a stable coin since it is tethered to the USD. One USDT should be always equal to $1 USD. Investors tend to hold Tether coins in their portfolios because it’s supposed to be far less volatile than other crypto coins available today.

The truth is that most stable coins are in fact, less volatile, and Tether has become the 4th largest cryptocurrency, with a total market cap of around $74 Billion.

What is Solana (SOL)?

Solana is known as the Ethereum killer! It is a public blockchain platform like Ethereum, with some potential advantages over it. Solana uses the environmentally friendly process proof of stake, to add new blocks in Solana’s chain. In fact, Solana has some distinct differences that, many say are much better than Ethereum. For example – Solana can process exponentially more transactions per second, and the fees are far less than Ethereum is now.

Solana is the 5th largest cryptocurrency by popularity and market cap, which is just shy of $46 Billion in late 2021.

Being the fastest blockchain in the world has attracted many businesses to expand their own networks using Solana DAPPS. There are over 400 projects on Solana blockchain today including, NFT’s, Web3, and Defi smart contracts.

SOL is the crypto coin used to pay fees on the Solana network, which are far less than processing transactions on Ethereum. The folks behind Solana claim that it’s blockchain is infinitely scalable, at the lowest cost per transaction available anywhere.

In fact, huge projects are underway such as a messaging app like the one everyone uses on their phones today!

Wrapping it Up!

Hopefully, you better understand the best, top 5 crypto coins that are helping to expand the crypto market and make life better and cheaper for everyone.

Cryptocurrencies might be the future of payments for humanity, since their decentralized nature, protects everyone equally, while allowing cheap, trusted transactions to take place, effortlessly every day.