Strongest Cryptocurrencies to Buy in 2022

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Contributor, Benzinga
October 17, 2022

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In hindsight, times of unprecedented fear have often turned out to be lucrative buying opportunities. Bear markets allow you to accumulate cutting-edge crypto projects at dirt-cheap prices. The following article will discuss the strongest cryptocurrencies to buy in the current 2022 cryptocurrency bear market. None of these cryptos guarantee any return at all, these are simply some of the strongest cryptos with the most potential in 2022.

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

Bitcoin

The provision of decentralized financial (DeFi) solutions is the tenet of the crypto community's story. Bitcoin is without a doubt the gold standard. Bitcoin is a brand-new financial system that cannot be influenced or controlled by human greed or politics; it is a fair and open form of payment for a divided planet.

Digital gold is the closest thing that Bitcoin can be likened to from an investment perspective. With a value proposition predicated on it being a scarce, portable, unchangeable and divisible savings technology, Bitcoin can be thought of as a speculative super-commodity.

Compared to other cryptocurrencies, Bitcoin is both the largest by market capitalization and the most decentralized cryptocurrency in the entire world. In part, this is why all other cryptocurrencies are collectively referred to as altcoins. In addition, Bitcoin is the only well-known cryptocurrency with an anonymous founder, pure organic growth and multiple tests, making it the market's most meritocratic cryptocurrency. You can buy Bitcoin on most exchanges but not all exchanges are made equal.

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Bitcoin thumbnail

btc

Bitcoin

$63878.00*

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-1.17%

24H
Buy Bitcoin
746 votes

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Ethereum

The most well-known altcoin in the cryptocurrency world is Ethereum (ETH), which is also the second-largest cryptocurrency in terms of market value. Ethereum stands out because of its expanding institutional acceptance, dominant position in the programmable blockchain market, deflationary economics and promising roadmap upgrades.

Ethereum, alongside Bitcoin, is at the forefront of the cryptocurrency movement. However, many people believe Ethereum could overtake Bitcoin as the dominant coin in the market in the near future, and for good reason. In contrast to Bitcoin, which is a first-generation blockchain, Ethereum has far superior programmable capability as a second-generation blockchain. Smart contracts (code stored on the blockchain) on Ethereum allow developers to create and launch decentralized applications (dApps) that run across a decentralized network instead of a centralized server. 

Overall, it has an unrivaled ecosystem of dApps, a respected and talented team and a booming online community. Additionally, Ethereum has a significant first-mover advantage from being the first blockchain of its kind, which provides Ethereum with a significant head start over other competitors such as Solana or Avalanche. Nonetheless, the longevity of Ethereum will largely depend on the success of future upgrades denoted in Ethereum’s roadmap.

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Ethereum thumbnail

eth

Ethereum

$3057.38*

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-0.72%

24H
Buy Ethereum
1107 votes

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Polygon

Polygon is a leading Layer 2 or sidechain (a parallel chain that's connected to another blockchain) that operates alongside the Ethereum blockchain. Polygon enables easy, fast and secure off-chain transactions for payment transactions and generalized off-chain smart contracts. Polygon promises to be a more straightforward foundation for creating interconnected networks, much like an actual polygon, which can have numerous sides, shapes and applications.

In technical terms, stand-alone chains and secured chains are the two main categories of Ethereum-compatible networks that Polygon supports. A sidechain is an example of a secure chain, whereas a rollup is an example of a stand-alone chain. The Polygon platform plans to offer further scaling options in the future, such as optimistic rollups and zero-knowledge (zk) rollups.

Polygon has the potential to be an extremely lucrative Layer 2 blockchain investment if Ethereum maintains its current growth and success. Sandeep Nailwal, a co-founder of Polygon, predicts that the project could grow 100 times by 2030.

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matic

Polygon

$0.685118*

*prices delayed up to 10 minutes

+2.50%

24H
Buy Polygon
274 votes

Polkadot

Polkadot is a second-generation blockchain that connects several specialized blockchains into one single network. Polkadot is designed to connect the dots with other networks. As the leading interoperability cryptocurrency, Polkadot fosters unparalleled interoperability by linking many blockchains. At the time of writing, Polkadot is the 11th largest cryptocurrency by market capitalization. 

Polkadot is made to run two different kinds of blockchains. The core network is the relay chain, and all transactions on there are irreversible. Conversely, there are networks made by users known as parachains. These blockchains operate side-by-side with Polkadot and can be tailored for a variety of purposes.

Overall, Polkadot’s core value proposition lies in its ability to address the problem of interoperability in the crypto industry. The protocol is currently used in a number of initiatives, including data collecting and non-fungible tokens (NFTs).

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dot

Polkadot

$6.74*

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+2.41%

24H
Buy Polkadot
54 votes

Chainlink is a multi-chain ecosystem that is designed to connect blockchains with the real world. Blockchains lack an efficient means to access external data by design; even with smart contracts, it is challenging to link off-chain data with on-chain data. 

This problem is solved by Chainlink, which offers a decentralized oracle service that enables smart contracts on Ethereum to access external data. At the time of writing, Chainlink is the industry’s leading oracle cryptocurrency. 

Chainlink serves as a link between external data sources and blockchain smart contracts. Chainlink is not a blockchain like Bitcoin and Ethereum but rather a framework and infrastructure for creating oracle networks that enhance the capabilities of various blockchains and their corresponding Layer 2 protocols.

The demand for external data to link with smart contracts on the blockchain will increase as the cryptocurrency industry continues to merge with the rest of the digital economy. If this trend continues to grow, Chainlink will be in a good position to meet this expanding demand.

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Chainlink thumbnail

link

Chainlink

$14.06*

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+2.25%

24H
Buy Chainlink
541 votes

Higher-Risk Cryptocurrencies

The following cryptocurrencies are relatively small projects by market capitalization with promising futures. These cryptocurrencies are considered high-risk investments because they are less established than market leaders in the sector.

High risk isn’t inherently bad or good for an investor. Risk works both ways, meaning that each investment into crypto carries the risk of significant failure and the benefit of significant success. As an investor, you must evaluate your own risk tolerance before venturing into a cryptocurrency investment. These can still be some of the strongest cryptos to buy in 2022, but they do carry somewhat greater risks.

PUSH

EPNS stands for Ethereum Push Notification Service, with PUSH being its native token. It is a blockchain-based notification protocol that is chain-agnostic, platform-independent and incentivized. EPNS has been featured by the Ethereum Foundation, Forbes and CoinDesk.

EPNS solves two core problems:

  • dAapps and services have no way to natively communicate, so users must repeatedly check their actions.
  • Wallet addresses do not receive alerts or communication from Web3 activity.

In other words, EPNS is the missing piece of Web3 infrastructure. Without notifications, the disconnect between users and dApps leads to poor UX, incomplete engagement and lost opportunities. EPNS aims to be a communication protocol for the entire Web3. At a market cap just shy of $9 million, the upside potential of EPNS is astronomical.

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Ethereum Push Notification Service - EPNS thumbnail

push

Ethereum Push Notification Service - EPNS

$0.227264*

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-1.62%

24H
Buy Ethereum Push Notification Service - EPNS
4 votes

ROSE

Oasis Network is the first smart-contract-enabled privacy blockchain for open finance and a responsible data economy. It is designed to expand open finance beyond traders and early adopters to the mass market in a scalable and secure manner.

The core developer of the Oasis Network, Oasis Labs, was founded in 2018 by University of California at Berkeley professor Dawn Song. The development team raised $45 million from firms, including a16z Crypto, Polychain Capital and Binance Labs to support initial protocol development.

Compared to competitors such as Ethereum, the Oasis Network outperforms in terms of scalability, certain high-value partnerships and privacy.

  • Scalability: Oasis Network’s notable scalability is achieved through a cutting-edge set of features that provide faster transaction speeds and higher throughput than other networks. 
  • Privacy-enabled: Oasis Network boasts a competitive advantage over competitors such as Ethereum, Terra, Avalanche and Solana in terms of data privacy, allowing for private DeFi and private data tokenization, among other use cases.
  • High-value partnerships: Oasis Network differentiates itself from other competitors by having one of the largest university networks in the blockchain sector. 

Final Thoughts

The cryptos mentioned above may not pan out but they are some of the strongest cryptos to buy right now in terms of potential. If you are a long-term investor, then it could be a good time to start building a cryptocurrency position over the coming months. However, it is important to note that the downside is more than likely in the short term. Because of this, wise investors will hold off on taking positions until they see indications of consolidation and price stabilization.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts
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