Cryptocurrency can be an extremely profitable investment, but the market is also filled with overly-hyped opportunities. Headlines are full of stories of tokens rising and turning their owners into millionaires, only to drop in value in a matter of seconds. Nevertheless, there is still a lot of potential for growth, and business savvy investors may be able to earn a considerable profit in 2022. Let’s review some of the most promising cryptocurrencies for this next year.
WazirX is an Indian cryptocurrency marketplace with an extremely user-friendly interface. By using the network’s native token WRX, users have access to additional benefits, such as significantly lower fees. The cryptocurrency market in India is expected to face increased regulation, but it also has an enormous growth potential based on the level of technological literacy among its population.
Solana emerged as a solution for two important problems plaguing older cryptocurrencies. First, Solana is based on its own blockchain which uses a recent innovation called Proof of History. This allows time records, which are necessary to validate each translation, to be stored inside the blockchain itself instead of using external software. More importantly, Solana is able to process transactions many times faster than other cryptocurrencies, reducing its costs. As a result, the price of the coin has soared through 2021, and its value is expected to continue to grow this year.
Chiliz is an Ethereum based token used to purchase fan tokens representing sports teams. The portal Socios allows fans to purchase tokens granting them benefits like free tickets or discounts, as well as voting power over certain team choices. As a result, the value of fan tokens for worldwide known clubs such as Barcelona and the Chicago Bulls has risen considerably. The price of the coin is still relatively low, but the number of teams is in constant expansion, and the company is starting to offer eSport related tokens, suggesting a considerable growth potential for 2022.
Illuvium is a cryptocurrency-based game where players can capture creatures with different abilities, and make them fight to power them up. As with fan tokens, Illuvium grants owners benefits and a certain level of voting rights. What sets this game apart is that it allows players to trade their rarest and most powerful creatures as NFTs using their proprietary currency. The model has already been successfully tested by Axie Infinity, but Illuvium’s potential relies on its more advanced gameplay and graphics, which is expected to lure more conventional gamers. The coin has already surpassed the $1,000 mark, and the game has only just launched.
Cryptocurrency remains a highly volatile asset, but there are ways to reduce the risk. Portals like Investopedia provide an excellent explanation of how blockchain technology works, while services like VSRK offer in-detail financial advice necessary before investing in any risky but highly profitable endeavors. There are many profitable opportunities waiting for investors, but in order to make sense of all the noise, it’s important to do the necessary research first.