Canada’s Top-Trending Cryptos for This Year | Bitbuy

Everyone wants to know the hot cryptocurrency trends of 2022. What will rival Bitcoin’s (BTC) jump from $974 to $20,000 in 2017? Or how about Ethereum’s (ETH) massive gains just last year?

What can you buy right now that will be the must-have popular crypto down the road? Because of the volatile nature of cryptocurrency, investors ask these types of questions and want to be the first to buy in.

But it is not all an upward trajectory. Just look at Dogecoin. A single Elon Musk tweet can help it soar. Another, and there’s a sharp decline.

We know you want to add the hottest cryptocurrencies of 2022 and 2023 to your digital wallet. Although there are no guarantees, there are some cryptocurrency trends to keep your eye on.

Which Cryptocurrency is Primed To Rise in 2022?

There are thousands of cryptocurrencies currently on the market. What’s the one that will turn you into a millionaire? Well, there’s a reason it’s a million-dollar question.

The reality is that prices are erratic, even for gold star cryptos like Bitcoin. But, this volatility is why there is money to be made.

As cryptocurrency markets continue to rise to global prominence and become a more vital part of investors’ portfolios, the future is bright.

Bitcoin is still the most popular cryptocurrency. But, other popular options can be a solid investment for you. Here are some of the most traded crypto assets on our platform.

Solana (SOL)

Solana went live in 2020. It’s an open-source and decentralized public blockchain platform. It utilizes proof of stake and proof of history, with its internal cryptocurrency being SOL.

Solana offers a treasure trove of features that allows it to stand out from the crowd. These help explain how it has become one of the largest cryptocurrencies in the world in under two years, including spectacular gains of more than 15,000% last year.

On top of this strong return on investment (ROI), it is desirable because of its highly advanced infrastructure and a lower environmental impact. It is primed for growth, but is it a long-term rival for Ethereum?

Cardano (ADA)

Cardano launched in 2017 and was celebrated as a multi-layer third-generation blockchain, aiming to compete with the first-gen Bitcoin and second-gen Ethereum for financial transactions and distributed computing.

Cardano was co-founded by Charles Hoskinson, one of the five initial founding members of Ethereum. The purpose behind this cryptocurrency is to provide more efficient, scalable, and secure applications on a decentralized platform. It aims to dethrone Ethereum, but is still in its early stages.

As one of the top 10 most popular cryptocurrencies, Cardano has a vast following and a growing network, setting the stage for it to be a staple of the blockchain sector into the future. In January 2021, it was trading at $0.03. By the end of the year, it was at $1.36.

We are continuing to monitor its real-world impact to see if the Cardano network is adopted and can support transactions across many industries.

Litecoin (LTC)

Litecoin is the “digital silver” to Bitcoin’s “digital gold,” as it promises an alternative mining algorithm and faster mining settlement than its more conservative Bitcoin counterpart. Still, it is so much more than that.

Launched in 2011 by former Google engineer Charlie Lee, Litecoin was created by copying the Bitcoin codebase. Yet, Litecoin is different because it has a faster block generation rate and offers a faster transaction confirmation time.

In late January 2022, Litecoin had a market capitalization of approximately $7.5 billion and a per token value of $107.44, making it the 21st most popular crypto globally.

While it may be a challenge to dethrone Bitcoin as the king of cryptocurrency, Litecoin certainly holds its ground as a strong competitor that consistently pushes the boundaries of innovation.

SushiSwap

Launched in August 2020, SushiSwap (SUSHI) is both a cryptocurrency token and an Ethereum-based decentralized exchange (DEX).

SushiSwap is based on another DEX called Uniswap (UNI). Under the pseudonym Chef Nomi, an anonymous developer or developers forked the Uniswap codebase to create SushiSwap.

SushiSwap is a type of DEX that uses the Automated Market Maker (AMM) model instead of an order book to facilitate a variety of DeFi (Decentralized Finance) functionalities without depending on any centralized authority. Such functionalities include yield farming, token swapping and staking.

Polkadot (DOT)

A blockchain of blockchains? This is the future envisioned through Polkadot.

Described as an “Ethereum killer,” Polkadot was founded in October 2017 by Web3 Foundation, a Switzerland-based group that wants to establish a user-friendly decentralized internet. Polkadot maintains a circulating supply of about one billion DOT coins.

Polkadot has quickly become one of the biggest cryptocurrencies today, as traders share the objective of facilitating an interoperable environment between chains, regardless of their features or chain status.

Ultimately, the open-source project behind Polkadot aims to connect blockchains, permission-less networks, and future technologies. This shift would allow faster communication and enhanced security.

Polkadot is one of the crypto assets that performed exceptionally well in 2021. Expectations are high for the DeFi projects that DOT has planned in 2022, and we expect its following and popularity to increase.

Buying Cryptocurrency in Canada

Bitbuy is the simplest way to get started with digital currency quickly and easily on the most secure Canadian cryptocurrency platform available. Create an account. Add funds. Buy and sell. It’s that easy.

We’re a Canadian-owned and operated cryptocurrency platform. We provide Canadians with convenient, dependable, and secure access to Bitcoin and other top cryptocurrencies.

As with any investment, it is essential to remember that cryptocurrency markets remain highly volatile. It is challenging to predict a coin’s value even a few hours from now and even more difficult further into the future. It is essential to remain well-informed and research before making any purchase.

More guides

What is DeFi Crypto?
What are the Top 10 Cryptocurrencies?