Top 10 cryptocurrencies to invest in India in 2022

Top 10 cryptocurrencies to invest in India in 2022

This technology not only provides high security as cryptocurrencies are rare but also increasing its value. Due to these characteristics, more and more investors are starting to view crypto as savior while the global economy is suffering from the pandemic.

Cryptocurrencies have become an attractive option for some new investors looking to diversify. These include investors from India as well. With the fall in the market, the prices are going down. If you are looking for good cryptocurrencies to invest in India, here are some of the major options.

1. Bitcoin

The first and most valuable cryptocurrency in the market, Bitcoin is actually synonymous with crypto for many people. At today's level of Rs 26,82,421.49 i.e. USD 36,714.48, the price of bitcoin has declined by 0.80 per cent in the last 24 hours, and an overall decline of 3.24 per cent over the past week. The famous cryptocurrency touched an all-time high of $65,000 in April 2021, after a sudden drop due to Elon Musk's announcement that Tesla was no longer accepting payments in bitcoin as part of an eco-friendly decision. However, after this fall, the currency recovered significantly and it seems that the currency is stabilizing; This may be a good time to buy bitcoin amid a drop in price.

2. Etherium

The second largest digital currency is Ether which is getting more circulation than Bitcoin. Ether is the native currency of the Ethereum platform. Smart contracts are the basis of Ethereum's open-source blockchain, which enables Decentralized Finance Service (DeFi). Such decentralized applications (dapps) give this cryptocurrency a great advantage. Ethereum is credited with creating a platform for DeFi and because of its success it is now widely used in the industry. Today, the price of Ether (ETH) is down by 4.04 percent over the past 24 hours at $2,472.59. It had declined 10.46 per cent in the previous week. The price in Indian Rupees is currently Rs 180,255.29.

3. Tether

Tether is a cryptocurrency that is a dollar-euro-like currency deposited in a financial institution such as a bank that can be held in equal amounts of those currency. It has 829,541 coins in circulation, the value of this digital currency is linked to the US dollar and in today's situation it is equal to one dollar. The price of Tether gained 0.02 percent in the last 24 hours, but declined by 0.04 percent during the past week. Since Tether has a dollar-denominated value, it is a stable and affordable investment option priced at Rs 72.93.

4. Binance Coin

Binance has only 573,296 coins in circulation and is one of the most popular digital currencies among crypto traders around the world. Binance Coin, the third largest currency by market capitalization, was launched in 2017 as a utility token. Therefore, the price of Binance Coin depends on the utility that it has on the Binance exchange platform. Simply put, the more the number of people who use Binance coin, the more its value will increase. Many experts see it as a reliable investment. At the moment, it is priced at $356.49 in US Dollars. The currency declined by 4.22 percent in the last 24 hours and fell by 12.80 percent in the entire week. At Rs 25,949.01, this may not be a very cheap cryptocurrency investment in India, but it is definitely worth considering.

5. Cardano 

Cardano has 637,696 coins in circulation and is one of the most reliable coins for investors with fast transactions and a super flexible network. One of the biggest strengths of Cardano is that it is sustainable, interoperable and scalable, and according to recent updates, it also includes the creation of smart contracts. Its movement is always slow and steady, with the aim of being completely decentralized at some point. Today its price is $ 1.54 or Rs 112.50. The currency has lost 2.77 percent in the last 24 hours and 11.44 percent in the last week.

6. DodgeCoin

The meme-coin DodgeCoin quickly took over the market as the leading cryptocurrency, and its success is largely attributed to the backing of Elon Musk. Available at an affordable rate of $0.3254, DodgeCoin is quite popular and is said to have huge growth potential in the near future. Dodgecoin is still sixth in terms of market cap, despite the market downtrend and falling 4.80 percent in the last 24 hours and 17.15 percent throughout the week. At a price of just Rs 23.77, it is a good cryptocurrency to invest in India.

8. XRP

XRP is another cheaper option and was introduced by Ripple, one of the original non-decentralized blockchain platforms. With a market capitalization of $45.68 billion, XRP is one of the top 10 cryptocurrencies in the market. At the level of $ 0.873 or Rs 63.68, its price declined by 1.98 percent in the last 24 hours and this week by 10.26 percent.

8. USD Coin

USD coin is one of the most stable currency on the market and investors can redeem one US dollar in exchange for one USD crypto coin. The value of USD coin is expected to rise to USD 1.2797 by December 2022. One of the lowest risk cryptocurrencies this USD coin is a good cryptocurrency to invest in India with a price of Rs 72.93 or $1.00. The value of this crypto coin has increased by 0.06 percent in the last 24 hours and declined by 0.02 during the whole week.

9. Polkadot 

Polkadot runs on proof-of-stake crypto technology which sets it apart from other cryptos in the market. With its independent blockchain facility to share information and the ability to create dapps, Polkadot is the cryptocurrency worth investing in India that you should keep an eye on. It is currently trading at Rs 1680.15 or USD 23.04, down 7.52 per cent during the last full week and 2.05 per cent in the last 24 hours.

10. Uniswap

Uniswap is a dapp for the Ethereum platform focused on the access and delivery of liquidity. Users can essentially trade tokens through the liquidity pool. This Uni Coin was released only last year and it relies on smart contracts, it helps in transactions of crypto tokens on Ethereum's blockchain. It is relatively new. Its popularity is growing rapidly and market analysts see it as a currency with great potential. The currency, which was trading at Rs 1,700.08 or $ 23.31, lost 4.11 percent in the last 24 hours and 13.87 percent during the whole week.

Most of the cryptocurrencies have seen huge losses after the market crash earlier this month. This can make it difficult for investors, especially newbies, to find low-risk and affordable cryptocurrencies. It is important to stay up-to-date on how the price is in the market and unravel the fundamentals such as finding sources to buy crypto and building a cryptocurrency wallet. Assess your investment goals, and research your options properly before buying. 

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