5 Altcoins to Invest in during Altseason 2022
There are many altcoins on the market today, but not all are created equal and not all are worth your investment. This article will discuss just the best of them to buy in 2022.
There are many altcoins on the market today, but not all are created equal and not all are worth your investment. This article will discuss just the best of them to buy in 2022. While Bitcoin is still the king of cryptocurrencies, there are many other altcoins that are worth investing in. Among these, we can cite Ethereum, Litecoin, Ripple or even Bitcoin Cash. But before getting to the heart of the matter, let's get to know 2 important terms: altcoin and altseason.
What is an altcoin?
Cryptocurrencies other than Bitcoin are called altcoins. The first and most important cryptocurrency is Bitcoin, while altcoins are its alternatives to bitcoin. There are several that are similar to Bitcoin but have slight differences in structure and technical details.
Each crypto has its own technological characteristics, objectives that are specific to it, but also its own community of users. Altcoin literally means “alternative crypto,” and it is a term that was specially coined to refer to any cryptocurrency that was launched as an alternative to Bitcoin.
What is the Altseason?
The Altseason or “Altcoin Season” is a term used to define the time of year when the prices of altcoins (cryptocurrencies other than Bitcoin) increase dramatically. This usually occurs after a period of stagnation or decline in the prices of these cryptos and is often followed by an increase in the price of Bitcoin.
Some investors believe the Altsseason takes place during the month of December due to a number of factors, including an early influx of investors looking to make a profit on their vacation bonuses and tax refunds.
The 5 best altcoins to buy in 2022
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Many believe that Ripple is going to become the next Bitcoin, and these people might be right as far as this cryptocurrency has a single purpose. Indeed, its main purpose is to simplify transactions for banks as well as other financial institutions. Ripple has already established partnerships with various banking institutions, and this is just the start.
Ethereum is a decentralized platform that allows developers to create smart contracts and decentralized applications. Note that Ethereum is also the second largest cryptocurrency in terms of market capitalization.
Litecoin is a crypto whose design is directly inspired by Bitcoin, and it was precisely created with the aim of improving some of the latter's shortcomings. Litecoin is thus faster and displays lower transaction fees.
IOTA is a new cryptocurrency that focuses on providing a decentralized infrastructure dedicated to the Internet of Things. This could be a great investment for people looking for innovative altcoins