7 Cheap and Potential Cryptocurrencies You Might Want to Invest In 2022

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Unless you aren’t living under the rock, you would probably know what cryptocurrencies are or at least would have heard of them in recent years. These blockchain-supported digital currencies have been making strides over the past few years, and 2021 was the year that witnessed the highest number of people investing in cryptocurrencies. While Bitcoin has dominated the crypto space for years, other digital coins have started to pick up.

If you’re intrigued by the cryptocurrency space and want to join the bandwagon, you should start by investing in some digital coins that are comparably less expensive and hold massive growth prospects. To make things easier, we’ve listed down seven such cryptocurrencies that hold the potential to shine in 2022 and beyond. So let’s hop straight to the list and buy the one you’re most hopeful of.

  1. Cardano (ADA)

A popular decentralized, open-source blockchain platform, Cardano is also a leading dApp hub. It uses the proof-of-stake consensus instead of the popular proof-of-work algorithm to mint digital coins and approve transactions, which is a relatively sustainable and green way to go around. Cardano started offering Decentralized Finance (DeFi) services in September 2021, after which its valuation saw an impressive surge.

Developers use Cardano to create and host various dApps that have real-world utility. Its excellent functionality has brought this digital token to the list of popular and promising cryptocurrencies that no one can ignore.

  1. Dogecoin (DOGE)

The meme-inspired digital coin, DOGE, has surprised many by becoming a popular and valuable digital coin in recent times. Though Dogecoin doesn’t offer a significant store of value, it has managed to create a cult following over recent years. DOGE’s price skyrocketed when Elon Musk tweeted in its favour. Dogecoin has gained various loyal supporters, including celebrities, businessmen, and other popular people.

It is one of the reasons that made many buy Dogecoin in India and abroad. Seeing its popularity, its creators announced a roadmap to improve this digital coin in the coming years, and you can expect to see updates from the coming year. As Dogecoin becomes better and popular with time, you can expect its value to witness significant gains.    

  1. Polkadot (DOT)

What made Polkadot grab the third spot in our list is its ability to enable cross-blockchain transfers of any data type and not just tokens. So, developers who built an app on this network can also run the same app on Bitcoin, Ethereum, and other networks. Polkadot is pretty fast and highly scalable, so one can expect this token to perform well in the coming years.

As Polkadot aims to create a reliable and seamless network that connects the different blockchain networks so they can work together in a better way, many are betting high on Polkadot’s future in the crypto space. If you don’t have it in your crypto portfolio already, you may want to add it before its price gets out of reach.

  1. Stellar (XLM)

Lumen (XLM) is the native cryptocurrency required to use the open-source blockchain payment system Stellar. This digital currency was created to connect financial institutions, like banks, so large-scale financial transactions can be carried out throughout emerging regions at a reasonably small or low-cost transaction fee.

This cryptocurrency stands out because of its in-built KYC functionality that makes all the transactions conducted on its network super secure. Institutional investors have a favourable view of Stellar and its native cryptocurrency, so you can expect good things on the card for them.

  1. VeChain (VET)

VeChain is considered a really ambitious project by many, as it aims to solve all the issues prevalent across the supply chain industry. While the supply chain industry was severely hit due to the COVID-19 pandemic, the creators of VeChain believe the industry can be revitalized using an ecosystem of distributed governance and IoT technology.

If the creators of VeChain manage to fulfil their goals, VET’s valuation will skyrocket. Seeing the recent improvements and performance of VET in the crypto market, one can expect this cryptocurrency to outshine many others in the coming year.

  1. Polymath (POLY)

A decentralized Ethereum project, Polymath, was created to facilitate a smooth and easier creation and management of security tokens. This system uses the ST-20 algorithm to allow users to embed regulatory requirements into the tokens, so restricting transactions to certain participants becomes easier. Ever since its launch, the cryptocurrency has garnered much value and demand, which is expected to rise in the coming year. As of now, Polymath has been used to create over 200 tokens and attracted various partners and users.

  1. Monero (XMR)

Launched in 2014, Monero has come a long way in establishing itself as a popular and promising cryptocurrency in the market. It was launched to make digital transactions more secure and private, so people can enjoy facilitating transactions while enjoying their anonymity. It is why many started calling Monero a privacy coin that keeps the transaction history super secure. As the crypto market doesn’t have many reliable privacy coins, Monero enjoys little to no competition. It is one of the reasons that this currency survived the huge market crash of May 2021, and its price has been on a steady rise for all the right reasons. So if you’re looking to invest in a cryptocurrency that has high growth potential, Monero is your go-to digital currency.

Final Words

Depending on your investing risk appetite, you can consider buying one or more cryptocurrencies from the above list. But when you decide to purchase, always make the transaction on a secure and reliable crypto exchange platform. The platform should facilitate cashing out cryptocurrencies into your preferred fiat currency at a reasonable cost.

For example, if you own Dogecoin, cash out your holding on a platform that charges a nominal fee for even 1 Dogecoin to INR conversion. Buying and selling the cryptocurrencies discussed above or others on a reputable exchange will take away half your crypto trading worries, so never ignore the importance of trading on the right platform.