The cryptocurrency market has experienced enormous growth over the past 12 years since Bitcon first launched in 2009 and digital currency experts are already predicting that this year will see it expand even further.
There are now thousands of options for people keen to invest in cryptocurrency, however, it’s hard to put a figure on the exact number out there as it changes every day.
Although it was the first, and is still hugely popular, crypto goes beyond Bitcoin and depending on whether you include failed ones or not, there are around 5,000 to 7,000 cryptocurrencies in existence right now, according to recent research by Nerdwallet.com.
However, Bitcoin is the largest cryptocurrency, with a market cap of around $600billion (£507.5billion), followed by Ethereum.
More people are becoming interested in cryptocurrency and how it works, especially now that well-known platforms such as Twitter, WhatsApp and payPal have updated their operating systems to include it as a payment option.
For anyone considering investing in cryptocurrency, it is crucial that you do as much of your own research as possible to get the most up to date information available due to the rapidly changing digital market.
Three cryptocurrencies to monitor in 2022
Bitcoin
Bitcoin launched in 2009 and fast-forward to 2022, it remains the largest cryptocurrency by some distance, with its price movement still having a significant impact on the rest of the market.
It goes without saying that this is one of the best cryptocurrencies, simply due to its longevity and it is set to hit new heights over the year ahead.
Ethereum
Ethereum is another extremely well-known cryptocurrency, and as it stands, it is the second-largest digital currency in terms of market value.
Everything is in place for Ethereum 2.0 to be launched, which will deal with the biggest problem that Ethereum currently faces, which relates to its transaction speed.
Dogecoin
Since DOGE began in 2013, it has risen in prominence and today it has established itself as one of the leading cryptocurrencies in the entire market, with a loyal fanbase.
It is accepted as a form of payment by more than 1,900 companies including Elon Musk’s Tesla and SpaceX.
WARNING: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.
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