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Top 10 cryptocurrencies in which small business owners should invest

Cryptocurrency

Cryptocurrencies are a good investment if you want to get direct exposure to the demand for digital currency

The beginning of 2022 was nothing short of a roller coaster ride for cryptocurrencies. Although a few weeks in the recent past have not really worked in favor of the cryptocurrency market, what serves as a ray of hope is the return of cryptocurrencies, albeit slow but steady. It is possible to get rich by investing in cryptocurrencies in 2022, but you can lose all your money. Investing in crypto assets is risky, but also potentially extremely profitable. Cryptocurrency is a good investment if you want to get direct exposure to the demand for digital currency. While Bitcoin continues to dominate the crypto sector, other promising altcoins are also making headlines, as they have been attracting many crypto investors lately. So, obviously, Bitcoin is not the only crypto option to invest in. This article lists the top 10 cryptocurrencies that small business owners should invest in.

Bitcoin

Created in 2009 by Satoshi Nakamoto, Bitcoin is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain or registry transaction distributed across a network of thousands of computers. Because additions to distributed registries must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept safe and protected from fraudsters.

Ethereum

Another of the world’s most valuable cryptocurrencies, the Ether token, is based on the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. Simply put, if Bitcoin is gold today, then Ether is silver. Ethereum has introduced innovations in blockchain security and usage, with its “smart contracts” becoming a platform for other applications.

Cardano

Cardano continues to be one of the most popular cryptocurrencies due to its flexible network and fast transactions. It claims to be more environmentally friendly than other currencies. Like the company’s stock dividends, it can justify higher prices over time as it has gathered real-world uses, from agricultural supply chains to retail plagiarism. Scalability, sustainability and interoperability are some of its main selling points. The recent network upgrade has allowed the unit to build smart contracts in its network.

Tezos

Tezos is one of the most important cryptocurrencies for the social involvement of crypto investors in the highly volatile cryptocurrency market. It is known as an open-source platform for addressing barriers to the adoption of the blockchain for digital assets and applications. Tezos provides an energy-efficient blockchain for artists, entrepreneurs, brands, and more to get involved with a DApps network.

Binance Coin

Binance is a form of cryptocurrency that you can use to trade and pay taxes on Binance, one of the largest cryptocurrency exchanges in the world. Since its launch in 2017, Binance Coin has expanded in the past, simply facilitating transactions on the Binance exchange platform. Now it can be used for trading, payment processing or even for booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.

Solana

Solana is a promising newcomer who has managed to enter the world of DeFi and claim a significant market share. Many currencies are built on top of the dominant Ethereum network, but not Solana, which has its own blockchain that uses the native SOL token. Solana’s low transaction fees should continue to steal from Ethereum users until Merge is completed.

Spheres

Polkadot (DOT) is a unique PoS cryptocurrency designed to provide interoperability between other blockchains. Its protocol is designed to connect blockchains with and without permission, as well as oracles, to allow systems to work together under one roof. The basic component of Polkadot is its relay chain, which allows the interoperability of different networks. It also allows parallel parachains or blockchains with its own native tokens for specific use cases.

XRP

XRP is one of the most popular cryptocurrencies on this list. XRP is a useful symbol that offers low transaction fees and fast transactions. Ripple, the company that issued XRP, has established its reputation as the most sought after partner in many countries in creating its own digital currencies. Ripple technology is also used by dozens of banks to facilitate transactions around the globe.

Avalanche

Avalanche is a new layer one blockchain - a blockchain that enhances the core protocol to make the system more scalable, as described by Binance. It was founded as an Ethereum competitor by Ava Labs and computer scientists at Cornell University, one of whom, former professor Emin Gün Sirer, is a veteran of cryptographic research, according to CoinMarketCap.

Dogecoin

Unlike many other cryptocurrencies that serve real functions, dogecoin was created as a satirical interpretation of bitcoin. Last year, cryptocurrency rose sharply based on hype on message boards and Elon Musk’s tweets. This is the same kind of speculation that has caused GameStop to grow by over 400% in a single week in 2021.

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