What Comes Next? Shiba or Dogecoin – Dogecoin, a cryptocurrency that began as a joke, has grown to become one of the world's most valuable currencies, recently surpassing the $2 billion mark in market capitalization.
On the other hand, Shiba Inu, an internet meme featuring an adorable dog face, has grown in popularity on Tumblr and Reddit and has spawned merchandise ranging from adorable stickers to hoodies.
Will Dogecoin be phased out in favor of another cryptocurrency, or will Shiba Inu be supplanted by another meme? Take this quiz to determine what is likely to happen in 2022.
Don’t Invest In Cryptocurrencies (Dogecoin, NEM, Monero)
That is not to say that cryptocurrencies are not a good idea. Simply put, they may not be a good fit for you. If you have excess funds, you should probably invest them in more stable instruments such as bonds, stocks, and other conventional investment vehicles.
However, if you want to try your hand at day trading—particularly with new cryptocurrencies such as Dogecoin—at the very least do so with knowledge. Before making any trades, educate yourself about blockchain and cryptocurrency (the technology that powers Bitcoin); even then, never invest more than you can afford to lose—because the likelihood is that it will be lost.
Cryptocurrencies can be quite volatile, so proceed with caution if your portfolio is not well-diversified across multiple asset classes.
Invest In Blockchain
Investing in blockchain technology is no longer a good idea; it is a necessity. Blockchain technology has already demonstrated its ability to disrupt large industries and will do so for years to come. Daily, new technology startups focused on blockchain-based solutions emerge; while many of these startups will fail, some will succeed—and quickly.
To stay informed about which companies are on the rise and where you should invest your money (for the best return), you should begin following reputable cryptocurrency blogs that write about how blockchain technology is transforming every industry from health care to gaming. If you're interested in learning more about investing in emerging technologies, check out our beginner's guide.
Sell it With a Fork
Forking is an excellent way to develop a project that has widespread appeal. Consider Bitcoin and Ethereum, which are essentially forks of other cryptocurrencies. Additionally, forking fosters innovation because there is no risk of stepping on someone else's toes.
With both feet, you can forge your own new path. We'd love to see your concept for a cryptocurrency or blockchain fork! Send it to us so we can help you spread the word about your creativity. While no programming experience is required, you do need a good idea – so submit it by May 1st. Everyone has the best of luck.
About Bitcoin Cash
This is a favorite cryptocurrency of ours. Bitcoin Cash was created in August 2017 as the result of a Bitcoin hard fork. This cryptocurrency is an enhanced version of Bitcoin, with a large market cap and the potential for exponential growth over time.
Bitcoin Cash operates on its own blockchain, but is faster and has lower transaction fees than the majority of other cryptocurrencies. Numerous long-term investors are monitoring it.
Zcash (ZEC)
While Bitcoin is analogous to cash, Zcash is more akin to an encrypted credit card—which has inherent value. In some instances, you may wish to pay anonymously, and a credit card provides less privacy than Zcash.
(Of course, you should avoid using Zcash to purchase illegal goods.) If, on the other hand, your business accepts Zcash as payment and is compensated in traditional currency rather than cryptocurrency, your revenue is not subject to capital gains taxes.
Additionally, if you pay employees in crypto and they receive payments in traditional currency, they are not required to report the income on their taxes—this type of invisible income may be beneficial come tax season.
NEO (NEO)
Often referred to as China's Ethereum, NEO is unique among cryptocurrencies. For starters, it is not a blockchain-based system but rather relies on a distributed network of nodes to store and manage all NEO transactions.
Additionally, its creators tout it as more than just another digital currency; it is intended for use with smart contracts and even Digital Assets Storage. With so many potential applications for such a novel technology, who knows what will become of NEO?
Stratis (STRAT)
The platform provides enterprises and institutions with Blockchain-as-a-Service, enabling them to create their own private blockchains. The goal of Stratis blockchain solutions is to enable businesses and institutions to quickly, securely, and easily manage blockchain applications written in C# and using Microsoft's.NET framework.
This is ideal for stock exchanges and other financial services businesses that could benefit from a more efficient method of data recording and tracking. By prioritizing security in its offering, Stratis may be able to attract large business customers looking for fast and scalable DLT platforms.
It has already begun collaborating with a number of organizations, including real estate firm Savills and online trading platform eToro – one of Europe's largest.
Dash (DASH)
You've almost certainly heard of Bitcoin by now. For years, the cryptocurrency has been a household name, and its price is constantly setting new records. While most people are aware that Bitcoin preceded other cryptocurrencies such as Dash and Litecoin, very few understand how these cryptocurrencies work. Continue reading to learn more about Dash and why it could be one of the next big things in 2022.
Golem Network Token (GNT)
Golem is a distributed network that developers can use to run applications. GNT tokens are used to make payments within Golem. Although Golem can be used for a variety of purposes, one of its primary uses is for rendering services.
Rendering with Golem is divided into two stages: distribution and execution. Distributing a task to one or more computers creates a supercomputer, which performs computation and returns results to a receiver node, which combines all results into a single image, video, or other format.
Users are rewarded with GNT tokens in exchange for sharing their computing power with application developers.
Stellar Lumens (XLM)
Jed McCaleb (creator of eDonkey) and Joyce Kim founded Stellar, an open-source protocol for value exchange, in early 2014. Keith Rabois, Patrick Collison, Matt Mullenweg, Greg Stein, Joi Ito, Sam Altman, and Naval Ravikant are among its board of directors and advisory board members.
Stellar's consensus algorithm enables it to validate accounts on its network significantly faster than other blockchain technologies, such as Bitcoin. Additionally, Stellar implements a decentralized exchange that enables users to convert currencies directly from their wallets.
This means that you can use Stellar to send dollars to someone who has Euros in their wallet without using a third-party exchange—a very convenient feature indeed.