With the constant flux and evolution within the crypto world, it stands to reason that protocols will emerge that have advantages over Bitcoin and other stable coin projects.
Here are three, one a multichain protocol, suggested by Motley Fool. I wouldn’t disregard it.
Investors should be looking for gains in places other than Bitcoin during this time of market uncertainty.
Key points
- A digital currency war has arisen between Russia and the West, which has led to market turbulence.
- Coins that offer complete anonymity and completely decentralized payment options stand to gain.
- XRP, Polkadot, and ZCash are all in a good place to leapfrog Bitcoin.
The cryptocurrency market has been on a wild ride over the last month. Popular assets like Bitcoin and Ethereum have each ushered the market lower, losing 10% and 11% of their value, respectively. Meanwhile, the war in Ukraine is continuing to create turbulence in the market as cryptocurrency exchanges resist calls to block Russian transactions, spurring a virtual digital currency war with the West.
While investors continue to seek out gains in the market, a few new trends are developing. Crypto users have always considered security a primary concern, but those concerns have increased as political forces attempt to stifle digital transactions. Creators and developers are also vying for more control over their products and looking to cut down on fraudulent transactions.
Those are just some of the reasons why these three cryptos are set to crush Bitcoin in 2022.
XRP
XRP is the native coin for the Ripple Blockchain digital alternative to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system, which is used to process international transactions. What makes XRP a more viable payment option than Bitcoin is that its Ledger Consensus Protocol takes mere seconds to complete a transaction compared to the 10 minute average block time for Bitcoin transactions.
XRP is also one of the few cryptocurrencies that have turned a profit over the last seven trading days. The asset has gained more than five percent in value and carries a 24-hour transaction volume of more than $1.9 billion. The asset’s market capitalization has also increased from $34 billion up to $36 billion over the same period.
Polkadot
Polkadot is a multichain protocol that was created by the Web3 Foundation in Switzerland and is designed to provide the foundation of the internet of blockchains. Its purpose is to provide a flexible and adaptive platform for decentralized creators to transfer any data or asset type across multiple blockchains.
Our top crypto play isn’t a token – Here’s why
We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.
Like with XRP, investors have been flocking to Polkadot over the last week. The asset has gained more than five percent in value, and it has added more than $900 million to its market capitalization over the same period.
ZCash
ZCash is a completely decentralized payment option that gives users the ability to transact with complete anonymity. The blockchain does not record sensitive information, such as the addresses of each wallet and the amount being transferred. This makes ZCash much different than Bitcoin despite being built on its codebase.
Completely decentralized payment options have become a must-have for crypto traders since the war in Ukraine began. Similarly, ZCash has seen its price rise by more than 10 percent over the last seven trading days and its market capitalization increase from $1.7 billion to nearly $2 billion.
As with any cryptocurrency, investors should understand the inherent risk of digital assets before spending their first dollar. Take a look at these suggestions, as well as others that come up in your own research, before diving in.
Buy and sell crypto on an expert picked exchange
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that’s right for you, you’ll need to decide what features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022. Check out the list here and get started on your crypto journey, today.
