The growth of the crypto market shows no signs of stopping, with new and exciting projects launching on a regular basis. Although these projects come with their own risks, they also provide great returns potential for crypto investors.
With that in mind, this article presents the best cryptocurrency to buy in 2022, covering which projects have the highest potential before showing you how to make your investment today – all from the comfort of your own home.
Listed below are eight of the best new crypto projects set to explode this year – all of which will be reviewed in the following section:
DeFi Coin (DEFC) – Most Promising Cryptocurrency to Buy in the DeFi Sector
Lucky Block (LBLOCK) - Best New Gaming Cryptocurrency to Invest In 2022
Decentraland (MANA) – Popular Crypto for Exposure to the Metaverse
Ethereum (ETH) – Leading Cryptocurrency Project with Imminent Upgrade
Shiba Inu (SHIB) – Cheap Cryptocurrency to Buy with ‘Meme Coin’ Potential
Avalanche (AVAX) – New Cryptocurrency to Buy 2022 with High Price Potential
Algorand (ALGO) – Eco-Friendly Crypto that Rivals Ethereum
Chainlink (LINK) – Best New Crypto for Smart Contract Platforms
A Closer Look at the Best New Cryptocurrency to Buy 2022
Here’s a more in-depth look at the best new cryptocurrency to invest in right now.
1. DeFi Coin (DEFC) – Most Promising Cryptocurrency to Buy in the DeFi Sector
Our pick for the best cryptocurrency to buy in 2022 is DeFi Coin. This token is native to the DeFi Swap ecosystem, a brand new decentralized exchange that offers swapping, staking, and yield farming services. DeFi Swap launched in early May, which prompted a 300% increase in the price of DEFC in just a few hours.
DeFi Coin has a built-in taxation system, which rewards DEFC investors simply for holding the token in their crypto wallet. Aside from these passive rewards, DeFi Coin also has an inherent ‘manual burn’ mechanism which reduces the total supply over time. In turn, this makes the remaining tokens scarcer and more valuable – ensuring that DEFC has a high chance of upwards price movement.
Defi Coin Chart
2. Lucky Block (LBLOCK) – Overall Best Cryptocurrency to Invest In 2022
Another option if you’re wondering which cryptocurrency to buy is Lucky Block. Lucky Block is a groundbreaking crypto gaming platform that leverages the power of blockchain technology to offer a safe and fair user experience. The platform’s native token, LBLOCK, can be used to purchase tickets and also for near-instant prize distribution.
LBLOCK also made waves earlier in the year following its launch on PancakeSwap, which saw the token surge over 3,000%. Looking ahead, the launch of Lucky Block's inaugural prize draws will dovetail nicely with the platform's rewards mechanism for LBLOCK holders – providing a straightforward way to generate a passive income stream.
Lucky Block Chart
3. Decentraland (MANA) – Popular Crypto for Exposure to the Metaverse
Decentraland is a virtual world hosted on the Ethereum blockchain which looks to combine the growing NFT sector with exciting metaverse-based concepts. Within Decentraland, users can create avatars and construct in-world items, which are structured as NFTs.
These NFTs can then be monetized through the marketplace, with transactions taking place in MANA – Decentraland’s native token. Due to MANA’s close ties to the Decentraland ecosystem, the token has become an excellent way to gain exposure to the growth of this project.
4. Ethereum (ETH) – Leading Cryptocurrency Project with Imminent Upgrade
Ethereum needs no introduction, as this blockchain network has provided the foundation for thousands of dApps to be launched. These dApps are based in various industries, from NFTs to DeFi, offering exciting alternatives to legacy systems.
Unfortunately, Ethereum has been plagued by high GAS fees, which have caused developers to look elsewhere. However, this trend seems to be ending soon due to the imminent upgrade to Ethereum 2.0, which looks set to boost scalability – and reduce fees markedly.
5. Shiba Inu (SHIB) – Cheap Cryptocurrency to Buy with ‘Meme Coin’ Potential
When investors look for which cryptocurrency to buy with ‘meme coin’ potential, Shiba Inu tends to make an appearance. Shiba Inu has benefitted remarkably from the rise of Dogecoin, helping the token produce quadruple-digit returns in late 2021.
SHIB sets itself apart from DOGE since the coin has numerous use cases outside of speculation. The recent launch of ‘ShibaSwap’ has created an ecosystem for SHIB to thrive, with an NFT marketplace providing another compelling reason to hold the token.
6. Avalanche (AVAX) – New Cryptocurrency to Buy 2022 with High Price Potential
Another exciting new cryptocurrency to invest in 2022 is Avalanche. Avalanche is a blockchain network that looks to improve upon the foundation set by Ethereum, as it uses three distinct blockchains rather than one.
By taking this approach, the Avalanche network can spread specific tasks across different chains, which dramatically increases scalability and reduces fees. Thus, by investing in AVAX, the network's native token, investors can benefit from Avalanche's growth in the months ahead.
7. Algorand (ALGO) – Eco-Friendly Crypto that Rivals Ethereum
Algorand is a 'Pure Proof-of-Stake' blockchain that looks to offer a viable alternative to Ethereum, as it seeks to be far more scalable whilst remaining decentralized. The project was founded by MIT scientist Silvio Micali, who won the Turing Award back in 2012.
ALGO is the native token of the Algorand network and is used for staking and paying transaction fees. However, ALGO investors can also hold their tokens in a non-custodial wallet to earn passive rewards, which combines neatly with the token's speculative potential.
8. Chainlink (LINK) – Best New Crypto for Smart Contract Platforms
Rounding off our list of the best cryptocurrencies set to explode in 2022 is Chainlink. Chainlink is an 'oracle network' that can provide off-chain data to blockchain networks whilst remaining decentralized.
This service is crucial for dApps to run effectively, as smart contracts tend to require extensive datasets to provide services within the DeFi sector. As this area of the market grows more prominent, the demand for Chainlink’s services will likely follow suit – meaning that LINK could be a great asset to hold long term.
How to Buy the Best New Crypto Coins
Now that you have an idea of which project could be the next cryptocurrency to explode, detailed below is a quick overview of the investment process for Lucky Block and DeFi Coin – two of the most exciting coins on the market:
How to Buy DeFi Coin
Step 1 – Set Up a Crypto Wallet: Set up a BSC-compatible crypto wallet, e.g. Trust Wallet or MetaMask.
Step 2 – Purchase BNB: Obtain some Binance Coin (BNB) from a respected broker or exchange.
Step 3 – Link Wallet to DeFi Swap: Click ‘Connect to a Wallet’ on the DeFi Swap homepage and follow the instructions to link your wallet.
Step 4 – Buy DeFi Coin: Set up the BNB to DEFC swap, enter your desired swap amount, and confirm the transaction.
How to Buy Lucky Block
Step 1 – Set Up a Crypto Wallet: Set up a BSC-compatible crypto wallet, such as MetaMask or Trust Wallet.
Step 2 – Buy BNB: Purchase some Binance Coin (BNB) from a licensed broker or exchange.
Step 3 – Connect Wallet to PancakeSwap: Click ‘Connect Wallet’ on PancakeSwap’s homepage and link your crypto wallet.
Step 4 – Buy Lucky Block: Search for LBLOCK, decide how much BNB you’d like to exchange, and confirm the swap.
Conclusion
This article discusses which projects could become the next cryptocurrency to explode, touching on their use cases and value potential for the months ahead. Defi Coin takes the top spot on our list due to its innovative mechanics and its passive income potential.
(This partner article is authored by Matt Williams. Hailing from Northampton UK, Matt has keen interest in stocks and crypto, and writes on ways to earn passive income online to achieve financial freedom.)
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