Cryptocurrency investments are here to stay. There is no going back now. Cryptos have taken the center stage. Debates and discussions on how to make this currency model legal continue. Many countries also have come forward in declaring their solidarity with these currencies. If you are planning to invest, register at bitcoin buyer to guide you what is the right crypto investment that will suit your needs.
Cryptocurrency operates on the decentralized finance model. It can undertake transactions without involving any third-party financial institution. It remediates the purpose of incurring 3 business days in completing transactions.
Cryptocurrency and its growing popularity
Bitcoin was the first crypto to get a global launch. Post Bitcoin, there have been other cryptos as well. Today, there are more than 4k+ cryptos in the global market. The total market volume of cryptos has increased by more than $3 trillion. The market is expanding.
Other than market expansion, crypto developers are also focusing on technology improvements. Today, cryptocurrencies and blockchain platforms are used for various activities. Users can develop their technology and apps using crypto tools.
Ethereum and its dominance in the market
Ethereum is also known as silver in the cryptocurrency market. It came as a surprise to many users who were already dealing with the flaws of the bitcoin platform.
Ethereum offered a much more flexible and scale-able platform to its users. It also offered the ability to create its decentralized apps. Further to this, the developers also included the ability to execute smart contracts.
Now, given all the benefits Ethereum is also becoming expensive. The coin currently trades at $3000 per token. While it is not pricey as compared to Bitcoin, it is still an expensive investment.
Let us look at two alternates to Ethereum that are worth investing in 2022.
Blockchain technology got its global launch in December 2019. Fantom makes use of the proof of stake concept to undertake and confirm transactions. The current technology as deployed by Fantom allows users to complete easier transactions. Users or investors can complete more than 100 transactions per second using Fantom.
It uses a scalable platform as compared to Ethereum. While Ethereum can handle more than 10 transactions per second. Fantom competes by completing higher numbers. Also, the transaction charges are extremely low as compared to Ethereum.
Another advantage that Fantom provides to its users is its compatibility with apps. It is compatible with Solidity. Solidity allows the execution of smart contracts in Ethereum. It allows every Fantom user to use Ethereum-based software on Fantom. Both front-end and back-end systems are compatible. It will also allow for better performance on the system at reduced prices.
On the global ranking, Fantom currently occupies the sixth position. The ecosystem supports decentralized finance. With the growing adoption of Fantom software, the market value will rise. Investors may also receive more than 100% return through their current investment.
This cryptocurrency is not new to anyone in this industry. Time and again this crypto has made headlines for its blockchain platform. It uses the proof of stake philosophy making every transaction easier to process. The blockchain also creates a track of all events under each transaction. it is then validated by respective validators also known as data validators.
Solana can process more than 50k+ transactions. All these transactions take less than 15 seconds to complete. Solana got its global launch shortly after Fantom’s release.
But the scalability and flexibility of the platform made it easy to enter the global market. At the time of making this article, more than 1500 projects are running on Solana. Solana has taken a safe position in the DeFi ecosystem. The current market volume of Solana is at $6 billion investments.
Considering the ongoing growth in DeFi and decentralized apps, the blockchain will grow.
Which token to invest in?
Both Solana and Fantom are best bets for 2022. Both these tokens work on decentralized finance and allow the development of apps. But, it is also important to study the current market trends in cryptocurrency. Cryptos and blockchains have also been a debatable topic. These platforms are also incredibly competitive on their terms.
If you are looking for a long-term investment option, then it is best to diversify the portfolio. It is better to invest in a portion of stocks, cryptos, real estate, and other assets.