10 of the best digital currencies to invest in 2024

Who among us has not heard or encountered the noise of digital currencies in the financial market, or heard about it from his friends or from the news and social networking sites. Learn about the best digital currencies for investment, as everyone is constantly talking about them and wants to take a share of their profits! We will explore: The best digital currencies to invest in 2022 such as Bitcoin, LiteCoin, Ethereum, Ripple, and more! Cryptocurrency trading - the best digital currencies for investment What are digital currencies? 10 of the best digital currencies to invest in 2023 Diversify investment in digital currencies What are digital currencies? Cryptocurrencies are a type of “digital financial asset” or “cryptocurrency.” It does not exist in physical form (as is the case with traditional currencies such as the dollar and the euro). Cryptocurrencies are not regulated or managed by any financial authorities or banks in the same way as traditional currencies, but are mostly self-regulated, through the use of various cryptographic technologies. In addition, these operations are organized over the Internet, where users in the associated networks verify and confirm the occurrence of these transactions. The emergence of what we now know as digital currencies (or cryptocurrencies) began in 2009, and it all began with the launch of Bitcoin, the first digital currency. Bitcoin was originally proposed as an electronic payment system based on cryptographic proof. Cryptographic proof came from the emerging technology of blockchain – a type of list of digital signatures that provides mathematical proofs describing the entire transaction history of each bitcoin. This publicly owned chain allows for peer-to-peer (Peer-To-Peer) transactions, without any need to entrust a third party with the task of processing the payment. The lack of need for any type of third party acting in a supervisory role means that Bitcoin is a decentralized digital currency. In 2009, some market commentators dismissed this new digital currency as a mere fad, a transitional reaction to the subprime mortgage crisis that set the global economy back in 2008. But as Bitcoin has increased in value and credibility over the years, interest in this new type of digital currency - and the technological framework on which it is based - has boomed. As more investors have embraced Bitcoin over the years, its value has risen, which in turn has increased interest in this asset class as a whole. This has led to an amazing increase in its value and fluctuations in its prices. As a result of all this, a large number of altcoins have arrived on the scene (and in some cases left just as quickly), based on the innovation of blockchain or such similar concepts. In early 2016, the total value of all cryptocurrencies was estimated at approximately $8 billion; By March 2017, this number had risen to about $25 billion, and five years later in 2022 the number had doubled, bringing the global market value of digital currencies to $2 trillion! 10 of the best digital currencies to invest in 2023 This article includes 10 of the best digital currencies to invest in 2022 that can be an option for your investment portfolio or traded via CFDs. However, before trading or investing, you should keep in mind that cryptocurrencies are assets with high volatility and therefore, before making a decision, we recommend that you consult with your financial advisor to confirm that these are the right options for you. We cannot know exactly the best cryptocurrencies to invest in 2022, but we have selected a group of those that could behave more favorably or more stably in 2022. This choice depends on the path that cryptocurrencies have followed in recent years, the current market capitalization, the trend of the sector and the investment arguments offered by each of the chosen cryptocurrencies. Stable cryptocurrencies such as Tether or Binance were not taken into account, since their characteristics will always be linked to the development of the US dollar. Each of the analyzed cryptocurrencies includes a brief description, some reasons why it might boom in 2022 and a daily chart for the last 6 months that includes two technical indicators. Relative Strength Index (RSI) indicator Exponential Moving Average (EMA): 20 periods (blue), 50 periods (red) and 100 periods (green) Additionally, individual descriptions included the evolution of each cryptocurrency over the past five years. #1 Bitcoin (BTC) It is the most popular digital currency and the one with the highest trading volume, with the exception of stablecoins. Despite the strong increase in competition, Bitcoin remains the absolute dominator of the cryptocurrency market according to its market capitalization. The growth in Bitcoin's value is astonishing, with the average growth in the last six years being above 300% and only in 2021, the digital currency has advanced by almost 80%. Events, such as the acceptance in El Salvador of Bitcoin as a FIAT currency, have increased the spread and recognition of this asset that some call “digital gold.” In addition, there are many reasons why Bitcoin may grow further in the coming years. For example, approximately 90% of Bitcoins have already been mined, so, if demand continues to grow and the increase in supply decreases, what will happen to Bitcoin? Will it be one of the 10 best cryptocurrencies to invest in 2024? Technically, you can see the fluctuation of the price of Bitcoin (in USD) in the past months.