Written by Daniel Da Costa at The Motley Fool Canada
The cryptocurrency industry has made several headlines over the last couple of years and continues to be one of the highest potential industries as we head into 2022. One of the biggest stories of this past year was the incredible rally in Dogecoin’s price.
There have been several cryptocurrencies that have posted astronomical gains, but during the height of Dogecoin’s run, it earned investors some truly incredible rewards.
Despite these massive gains, though, Dogecoin is hardly one of the best cryptocurrencies to buy. If a speculative meme coin can earn investors such impressive returns, just imagine the potential of a high-quality cryptocurrency as it goes mainstream.
So, if you’re looking to find high-quality cryptocurrencies that can return you astronomical gains like Dogecoin, here are three of the best to buy for 2022.
One of the best cryptocurrencies to buy for exposure to the metaverse in 2022
Lately, most of the hype around the cryptocurrency industry has surrounded the idea of the metaverse. There is a tonne of potential created by blockchain technology. And now, with the exciting potential of the metaverse and all the possibilities that it offers, investors are looking to gain exposure.
One of the ways you can do this is to find stocks that offer exposure to the metaverse. Perhaps an even better way to invest in the metaverse is to buy a high-quality cryptocurrency like MANA (CRYPTO:MANA), the native token of Decentraland.
Decentraland is one of the first virtual worlds created and is one of the most popular metaverses already. Users can buy, sell and build assets and real estate in Decentraland. In order to do any transactions, though, you need to use MANA. So, naturally, as Decentraland continues to gain in popularity, the demand for MANA tokens will rise.
If you’re looking for a way to gain exposure to the metaverse in 2022, MANA is certainly one of the best cryptocurrencies to buy.
A top cryptocurrency to buy if you’re bullish on DeFi
Decentralized finance (DeFi) is one of the biggest reasons the crypto industry gained so much traction in 2020 and has continued to gain popularity throughout 2021.
So, finding cryptocurrencies that will benefit from the growth in DeFi can be some of the best investments of 2022.
In fact, several of the top cryptocurrencies offer exposure to the growing DeFi space, which is likely why they are already so popular. So, although you have lots of choices, one of the best has to be MATIC (CRYPTO:MATIC), the native token of Polygon.
Polygon allows users to invest in many of the same DeFi applications that are on the much more popular Ethereum network. However, as many investors know, one of the biggest drawbacks of Ethereum at the moment is the costly transactions.
On the Polygon network, though, it often costs less than $0.01 to complete a transaction. So naturally, as DeFi continues to grow, MATIC will see an increase in demand, as it’s one of the easiest cryptocurrencies to get started with.
Therefore, if you’re bullish on cryptocurrencies and specifically think DeFi will continue to be a major driver of the adoption of the industry, then MATIC will certainly be one of the top cryptocurrencies to own in 2022.
A top cryptocurrency that should rally rapidly as the industry continues to gain in popularity
Lastly is CRO (CRYPTO:CRO), the Crypto.com coin. Crypto.com is increasingly becoming one of the top destinations to buy and sell cryptocurrencies.
The exchange has been spending a fortune on advertising, and it’s been working. The Crytpo.com name is everywhere now, and as more investors look to get into the cryptocurrency industry, they are turning to Crypto.com.
Therefore, naturally, just like the other two coins, as Crypto.com gains more popularity, the demand for CRO will continue to grow.
Right now, CRO has a market cap of just US$14 billion. That’s considerably less than one of its major competitors, Binance, which has the native token BNB and a market cap north of US$87 billion.
So, if you’re looking for a top cryptocurrency to buy and hold through 2022, Crypto.com and its aggressive advertising strategy could help make CRO one of the best performers.
The post Missed Out on Dogecoin? 3 Cryptocurrencies That Could See Astronomical Gains in 2022 appeared first on The Motley Fool Canada.
Should you invest $1,000 in Air Canada right now?
Before you consider Air Canada, you may want to hear this.
Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now… and Air Canada wasn’t one of them.
The online investing service they’ve run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.
Fool contributor Daniel Da Costa owns Binance Coin, Decentraland, Ethereum, and Polygon. The Motley Fool owns and recommends Ethereum.