by Aratrika Dutta
March 8, 2022
These Top 10 Cryptocurrencies in India are Best to Invest in 2022 for Great Returns
Cryptocurrency adoption in India gained momentum, despite uncertainty surrounding the future of unregulated assets in the economy. Cryptocurrencies as Bitcoin and Ethereum are becoming more competitive in terms of returns every day. It is absolutely true that India is one of the world leaders in crypto adoption. In India, more young and new investors want to invest in cryptocurrencies, leading to a depreciation of traditional assets such as bonds, stocks and local currencies. Here is the list of Top 10 Cryptocurrencies desi investors should keep an eye on it, in 2022.
Today’s price: ₹30,94,484
Bitcoin is the most popular cryptocurrency in India. This is probably because it is the oldest, most popular cryptocurrency with a limited supply, just like gold. Proponents even call Bitcoin the “gold standard” of cryptocurrencies. It is undoubtedly number one in the top 10 cryptocurrencies desi investors should watch out for in 2022.
Today’s Price: ₹2,04,271
Another most valuable cryptocurrency in the world, the Ether token is based on 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 in security and the use of blockchain, with its “smart contracts” which later became a platform for other applications.
Daily Price: ₹80.30
Tether was introduced to the world as the brainchild of individuals who felt the cryptocurrency market was extremely unpredictable and choppy. As the first stablecoin, Tether is pegged to the US dollar and experiences fewer fluctuations than bitcoin. This alone makes cryptocurrency the best alternative to bitcoin. Launched in 2014, tether allows users to experience the blockchain network while encrypting their investments against large price rises and falls.
Today’s Price: ₹30,688
The Binance coin, represented by BNB, originated as a way to pay fees on the Binance cryptocurrency exchange. In addition to its significant utility value, BNB also has a quarterly burn schedule that maintains its market circulation numbers. At the start of 2021, BNB saw a significant price rally, to the benefit of several corporate investors.
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 into cryptocurrency and used internationally.
Today’s price: ₹58.40
XRP is used interchangeably with Ripple but is different. XRP is the cryptocurrency developed by Ripple Labs to be used for its financial products. It can be used for international payments or remittances (money transfers). An interesting fact about XRP is that coins are “pre-mined,” using what its creators describe as a smart contract system. This results in faster and more energy-efficient token transfer.
Today’s Price: ₹6,417.46
Terra, also meant as LUNA, is capable of stabilizing protocol stablecoins. The Terra Protocol combines the price stability of fiat currencies with the censorship resistance of Bitcoin (BTC) to deliver 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.
Today’s price: ₹65.8
Cardano is a platform capable of running financial applications currently used daily by individuals, organizations and governments around the world. Moreover, the green and transparent nature of Cardano makes it the perfect alternative to bitcoin. Cardano has also proven its potential as one of the top 10 cryptocurrencies for desi investors to buy in 2022.
Today’s Price: ₹0.001865
The last participant on the list is Shiba Inu. This meme-based cryptocurrency has overtaken its longtime rival dogecoin over the past month with an 800% price gain. Although market experts are unsure of its fluctuations when SHIB launched in 2020, its monetary performance in the market has outperformed many top cryptocurrencies.
Today’s price: ₹9.55
Dogecoin is the first meme cryptocurrency that started with a joke that was trending on the internet a long time ago. After holding a secure position for some time since its launch in 2013, Dogecoin showed potential in 2020 when it gained recognition as a payment model among sports teams and entered AMC theaters. Moreover, prominent names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could drive the DOGE price crazy.
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