Top 10 Cryptocurrencies Desi Investors Should Keep an Eye on in 2022

These top 10 cryptocurrencies in India are the best to invest in the year 2022 for great returns

Cryptocurrency adoption in India has gained momentum, despite uncertainty around the unregulated assets’ future in the economy. Cryptocurrencies like Bitcoin and Ethereum are becoming more competitive in terms of returns every day. It is very much true that India is one of the global leaders in crypto adoption. In India, more young people and first-time investors are interested in investing in cryptocurrencies, resulting in depreciation in traditional assets like bonds, equity, and local currencies. Here is the list of top 10 cryptocurrencies desi investors should keep an eye on, in 2022. 

Bitcoin

Today’s price : ₹30,94,484

Bitcoin is the most popular cryptocurrency in India. This is probably because it is the longest living cryptocurrency, valued the highest, along with a finite supply just like gold. Proponents even call Bitcoin the ‘gold standard’ of cryptocurrencies. No doubt it is the number one in the top 10 cryptocurrencies that desi investors should keep an eye on in 2022. 

Ethereum

Today’s price : ₹ 2,04,271

Another most valuable cryptocurrency in the world, the Ether token is based upon the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. Simply put, if Bitcoin is gold, then Ether is silver. Ethereum introduced innovations to blockchain security and usage, with its ‘smart contracts’ which later became a platform for other applications.

Tether

Today’s price : ₹80.30

Tether was brought into the world as the brainchild of individuals who felt that the cryptocurrency market was extremely unpredictable and agitating. As the premier stable coin, the Tether is fixed to the US dollar and encounters fewer vacillations contrasted with bitcoin. This alone makes the cryptocurrency the best alternative for bitcoin. Launched in 2014, tether allows users to experience the blockchain network while also encrypting their investments against major price surges and falls.

Binance coin

Today’s price : ₹ 30,688

Binance coin, represented as BNB, came into existence as a way to pay fees on the Binance cryptocurrency exchange. Along with its significant utility value, BNB also has a quarterly burning schedule that maintains its market circulation numbers. At the beginning of 2021, BNB witnessed a significant price hike, roping in the interest of several enterprise investors.

USD Coin

Today’s price: ₹80.12

USD Coin, or USDC, is a stablecoin like Tether, and like Tether, its price is pegged to the US dollar. It was launched by Coinbase. USDC is an Ethereum token and can be stored in an Ethereum compatible wallet. It was designed to allow dollars to be easily converted to cryptocurrency and used internationally.

XRP

Today’s price: ₹58.40

XRP is used interchangeably with Ripple but is different. XRP is the cryptocurrency developed by Ripple Labs to use for its financial products. It can be used for payments, or international remittances (money transfers). One interesting fact about XRP is that the coins are “pre-mined”, using what its creators describe as a smart contract system. This results in the faster and more energy-efficient transfer of tokens.

Terra

Today’s Price : ₹6,417.46

Terra, also signified as LUNA, is capable of steadying the protocol’s stable coins. The Terra protocol combines the price stability of fiat currencies with the censorship resistance of Bitcoin (BTC) to offer fast and affordable settlements. With a supply of 1 billion tokens, LUNA was first launched for initial investors in 2018 by Daniel Shin and Do Kwon. 

Cardano

Today’s Price : ₹65.8

Cardano is a platform that is capable of running financial applications currently used every day by individuals, organizations, and governments across the globe. Besides, the eco-friendly and transparent nature of Cardano makes it the perfect alternative for bitcoin. Cardano has also proved its potential as one of the top 10 cryptocurrencies for desi investors to buy in 2022.

Shiba Inu

Today’s Price : ₹0.001865

The final entrant in the list is Shiba Inu. This meme-based cryptocurrency has overtaken its long-stood rival dogecoin in the past month with an 800% price gain. Although market experts are not sure about its fluctuations as SHIB was launched in 2020, its currency performance in the market has outperformed many top cryptocurrencies.

Dogecoin

Today’s Price: ₹9.55

Dogecoin is the first meme cryptocurrency started with a joke that trended on the internet a long time back. After keeping a position of safety for some time since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theaters. In addition, big-ticket names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could make the DOGE price go berserk.

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