Top 10 payment cryptocurrencies to look out to in 2022
January 12, 2022 by NOWPayments.io
Due to the wide variety of cryptocurrencies, merchants often wonder: “Which of the thousands is the perfect payment method?” In this article, we decided to clear this up. We present to you the top 10 payment cryptocurrencies that stand out favorably with their zero/near-zero fees, lightning-fast transactions, as well as dedicated communities.
- Top cryptocurrencies for payments are those that have zero/near-zero fees, fast transactions, and dedicated communities
- Some coins and tokens are about to rise in 2022 so accepting them as a payment might seriously boost your business
- NOWPayments offers many tools for accepting crypto payments.
Top cryptocurrencies for payments in 2022
Litecoin is a time-tested cryptocurrency that is perfect for commerce. This is one of the most popular coins on the market. The coin is a common payment method not only among online business owners but also among brick-and-mortar stores. This is an ideal choice for making micropayments. Moreover, Litecoin is one of the most reliable coins, which stands out favorably for its fast and cheap transactions.
Dash is a multifunctional cryptocurrency that was created to make fast, secure, and cost-effective payments. The coin has become popular among business owners due to its lightning-fast transactions and micro fees. To date, Dash is accepted for payment by more than 150 thousand merchants around the world. In addition, thanks to the masternode technology, Dash has such useful functions as InstantSend and PrivateSend.
Monero is the most top-rated private-oriented cryptocurrency on the market. It is a perfect coin for making fast, inexpensive, and untraceable international payments. Monero transactions are anonymous, in other words, no one can find out to whom, who, and how much was sent. This makes Monero one of the safest cryptocurrencies. This feature is exceptionally important for those segments where anonymity and privacy play a crucial role.
Cardano is an exceptionally reliable cryptocurrency, whose developers are constantly improving the project and introducing innovative technologies. The project is positioned as a third-generation blockchain that has absorbed the best of the previous ones. Transactions on the Cardano network are distinguished by their speed, high level of security, and low fees. With the release of the Alonzo upgrade in September 2021, Cardano has become even more popular and today is technically more advanced than Ethereum.
Tether is the most popular stablecoin on the cryptocurrency market. This coin is perfect for those who are afraid of the high volatility of crypto. We can say that Tether is an improved alternative to fiat. One USDT equals one dollar. Roughly speaking, Tether transaction is a kind of fiat transaction, only many times faster, more private, and cheaper.
nano has all the characteristics that are necessary for effective commerce: instant transactions, zero fees, and security. Due to the absence of fees, nano is an ideal tool for micropayments. In addition, thanks to its lightning-fast speed, it is the best cryptocurrency for POS payments. Moreover, this coin is particularly popular among eco-activists.
Stellar is a platform for cryptocurrency transactions. Over the past three years, it has become the fastest-growing project. Many users love Stellar for its high transaction speed. The crucial point in favor of Stellar is fixed low fees — 0.00001 XLM. In addition, thanks to the built-in KYC function, Stellar transactions are extremely secure.
Dogecoin is a meme cryptocurrency, the patron of which is considered to be Elon Musk. Cryptocurrency has a huge army of fans and is widely used as a means of payment. Due to its low fees, DOGE is well suited for micropayments. Dogecoin has become widespread among merchants, charitable organizations, as well as on platforms such as Reddit and Twitch.
Tron is a cryptocurrency that has become widespread in the entertainment industry. The developers pursued the main goal, to provide peer-to-peer transactions between content creators and consumers, excluding expensive intermediaries. Transactions on the Tron network are instant and are not subject to a fee. Thus, it is another cryptocurrency that is perfect for micropayments.
Algorand is an eco-friendly cryptocurrency that positions itself as the currency of the future — and for a reason! ALGO operates on an innovative Pure Proof of Stake consensus mechanism. Algorand technologies have made it preferred for hundreds of blockchain projects. In addition, transactions on the ALGO network are characterized by incredible speed and near-zero fees.
What crypto coins may explode in 2022?
Ethereum got into this list for obvious reasons. The coin has long strengthened its position in the market, and in 2021 it refreshed its “all-time high” twice. To date, investors are bullish about Ethereum. Interest in Ethereum is fueled today by the launch of Ethereum 2.0. The coin will switch to the Proof of Stake algorithm, which will allow the decentralized application to work more smoothly, quickly, and efficiently. It is planned to increase the transaction speed to 1000 TPS, and reduce fees.
If Ethereum is currently in the process of transition, then the Cardano blockchain initially functioned on the Proof of Stake algorithm. Moreover, Cardano is the most famous and successful PoS cryptocurrency. In 2021, the coin showed staggering growth and broke its historical maximum. This happened on the eve of the Alonzo upgrade, thanks to which Cardano can now be successfully used to launch smart contracts and DeFi applications. Such an upgrade makes Cardano an ideal contender for the title of a cryptocurrency that is going to explode in 2022.
VeChain is a platform that offers various business solutions based on blockchain technology. The project has a mission to help companies solve supply issues, reduce transportation costs, and find solutions to improve logistics. VeChain has already occupied its niche and acquired partnerships with many reputable companies. The prospects of the project are extremely rosy for 2022.
Binance Coin (BNB)
Binance Coin is the internal cryptocurrency of the most popular and successful crypto exchange. Investing in BNB is a kind of investment in the shares of Binance and the price of the coin is closely related to the success of the company, and the prospects for Binance are brilliant. In addition, with the launch of the Binance VISA card, the company has become even more popular, and the internal BNB token has every chance to double in price.
Algorand is a blockchain-based smart contract platform that aims to create a decentralized economy and remove the difficulties and limitations that arise. The developers of Algorand are very close to solving the “blockchain trilemma’”, which consists in simultaneously achieving decentralization, security, and scalability. The project has a strong development team and many partnership agreements. One of the good reasons to believe that ALGO has a chance to explode in 2022 is its eco-friendliness.
The listed cryptocurrencies are perfect contenders for the title of “the best payment cryptocurrencies”, due to their popularity, low fees, security, and transaction speed. NOWPayments supports more than 100 crypto assets, including those previously named. With our easy-to-integrate payment tools, you will get the best payment experience and will be able to boost your business.
The bottom line
There are many coins on the market that could explode in 2022 and no one can know for sure which ones actually will. In this article, we looked at several cryptocurrencies that have every chance to bring success to those business owners that will accept them as payment. The selection was based on utility, the latest and forthcoming upgrades, and historical analysis of coins. NOWPayments will help you with implementing crypto payment solution in your business.
Read this article and more in the NOWPayments blog: Top 10 payment cryptocurrencies to look out to in 2022
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