Many crypto investors are relying on the topmost promising coins to gain higher returns. So are you considering investing in cryptocurrencies in May 2022? We’ve simplified the process with our comprehensive guide to the top ten coins to purchase in May 2022.
There are thousands of cryptocurrencies available on the market at the moment, which has left many crypto investors perplexed. In general, smaller market capitalization cryptocurrencies are more volatile than larger, more established digital tokens such as Bitcoin and Ethereum. This, in turn, makes it difficult to choose the best one to invest in or trade if you are new to the industry.
For your convenience, we’ve compiled a list of 10 coins that you should buy in May 2022, before their value soars. Hopefully, you’ll discover the next big cryptocurrency by reading this article.
Best Coins To Buy In May 2022
- Helium
- Quant
- Chainlink
- Hero
- Solana
- Hedera
- Polygon (MATIC)
- Aave
- Cosmos
- Immutable X
Helium
Wireless Internet of Things (IoT) devices will be able to communicate better thanks to Helium. While IoT infrastructure was still in its infancy, developers were looking to add decentralization to their offerings in 2013.
Device owners and IoT enthusiasts will be the primary target audience for financial incentives that offer additional outreach opportunities.
They may purchase or build their Hotspots, a type of wireless gateway and miner in one. Helium’s native cryptocurrency, HNT, is generated by each hotspot, which provides network coverage within a certain radius.
Proof-of-Coverage allows network nodes to agree even when the quality of the connection is significantly variable by using the HoneyBadger BFT protocol.
Prove-of-coverage (PoC) is Helium’s proprietary consensus process, and it compensates users for helping to mine (validate transactions).
Using the HoneyBadger BFT protocol, PoC can communicate between nodes in unstable environments.
Attacks on Hotspots are most likely to target node operators, according to Helium. The wallet on the platform uses asymmetric keys to protect the privacy of its users.
The total supply of HNT coins is 223 million, with 100 million currently in circulation. In terms of buying and selling Helium, Binance is currently the most popular exchange for trading Helium. The current price of Helium stands at $17.25.
Helium is a decentralized machine network built on top of a physical blockchain. The network is built by gateways, which are also miners. These gateway operators can earn tokens by providing service and collecting transaction fees from the machines they connect to their gateway.
The digital currency helium is brand new. Customers who use Hotspots to connect to the internet are paid for providing and verifying wireless coverage.
Quant
Quant is an Ethereum-based token. Quant’s services, transaction fees, and the OverLedger Network’s security are all covered by the token.
For institutions to seamlessly integrate multiple distributed ledger systems, OverLedger is the foundation of Quant. Quant (QNT) has gained 5% in the last day.
In the cryptocurrency industry, a 5% change in 24 hours isn’t a big deal. The fact that an altcoin like this can move against the market is impressive. Altcoins usually follow Bitcoin’s price movement, and it is unusual for them to deviate from it.
The Quant blockchain has a token called QNT crypto that grants users digital access to a specific app or service. A fixed amount of fiat currency is used to calculate access fees for QNT tokens. Developers and businesses, for example, pay monthly consumption fees to the Quant Treasury account, which works in conjunction with the QNT tokens.
Both the number of tokens generated and the fixed fiat currency amount are taken into account when determining an access fee. For example, developers and businesses pay the Quant Treasury $10 a month in QNT tokens, which is the equivalent of $10 in dollars.
As of the time of writing this article, Quant price is around $103.
Chainlink
Chainlink is an Ethereum-based decentralized blockchain oracle network. Using the network, tamper-proof data can be transferred from off-chain sources to smart contracts on the blockchain.
Smart contracts can now be verified independently of any of the contract’s stakeholders, according to the project’s creators, who say it connects contracts directly to real-world data, events, payments, and other inputs.
LINK, the network’s native cryptocurrency, is used to pay node operators. As of today, the LINK price is about $13.
A fork of ERC20, the LINK token from Chainlink is an ERC677 token. For smart contracts, tokens are data payloads, feeding off-chain data to smart contracts that then act in response to the token’s information.
More than $60 billion had been deposited into smart contracts through Chainlink by February 2022 and 1,100 projects were using it.
A token can be stored in any ERC20 wallet, as long as the ERC677 token retains its ERC20 functionality. According to a Bank of America report released in February 2022, LINK was the 22nd-largest cryptocurrency by market value.
Hero
Hero is a cryptocurrency designed as a decentralized ERC20 token on the Ethereum blockchain for use by members of the Hero network. Using the Hero network, players can bet in a bespoke gaming environment without the need for a central bank.
The network’s goal is to create a transparent and trustless betting ecosystem that facilitates the growth of its members. Using the term “trustless betting,” we refer to a set of mechanisms that allows two or more parties to interact and fulfill contracts without having to put their faith in the other party.
If you’d like to wager on future events, such as esports matches, you can use HEROcoin (PLAY), a decentralized ERC20 token. In addition, the coin uses a reward mechanism that is hardcoded into the smart contracts of the coin. The current price of HEROcoin is about $0.0127.
A percentage of the total number of games played on the network can be used to reward all coin holders. In addition to this use, the general reward system provides new opportunities for existing and emerging communities to reward contest creators through the Hero network for engaging their viewers in customized private contests.
Solana
Solana is a functional open-source project that leverages the permissionless nature of blockchain technology to provide decentralized finance (DeFi) solutions. Although the concept for the Solana project began five years ago, the project officially launched in March 2020. SOL is the Network’s native cryptocurrency and is in charge of all transactions.
Solana is one of the hottest cryptocurrency tokens and has skyrocketed in value over the last year. The coin’s price has been steadily rising to new all-time highs, attracting the attention of investors worldwide. Solana is currently traded at about $100.
According to Solana’s forecasts, the SOL coin’s price will increase by more than 450 percent in 2022, reaching above $450 per token.
To achieve consensus, Solana makes use of a consensus mechanism known as proof-of-stake, which has the advantage of being more environmentally friendly than Bitcoin’s proof-of-work.
Hedera
Using the Hedera Token Service (HTS), tokens that are fungible or not can be created, minted, and managed on the Hedera platform without the need for a smart contract. A Web3 file service and identity management are also included in the Hedera network’s service offerings.
The Hedera ecosystem relies heavily on the native HBAR token. For the most part, developers use the energy-efficient cryptocurrency for logging data and managing fungible and non-fungible tokens (NFTs). Additionally, the HBAR token can be used to cover transaction fees and to compensate nodes for computational power and bandwidth used.
Nodes stake their HBAR tokens on the Proof-of-Stake public network to ensure its security. Weighted voting requires a stake equal to one-third of the total supply of HBAR for bad actors to influence consensus. The first five years following the token’s release will be physically infeasible, as well.
A staggering 10,000 HBAR transactions are completed every second (TPS). Without compromising the security or stability of the network, a single shard on a single ledger can be used to achieve this goal.
Transaction fees are also kept to a minimum due to the low computational burden of hashgraph consensus. HBAR transaction fees are typically 0.0001 cents per transaction. The on-ledger finalization time for HBAR token transactions is less than five seconds.
The current market price of Hedera is about $0.1806.
Polygon (MATIC)
Polygon used to be known as Matic Network before being renamed. The Polygon Network, an Ethereum scalability solution powered by Polygon (MATIC), is an Ethereum token. Layer 2 sidechains, or blockchains that run alongside Ethereum’s main chain, are the basis for Polygon’s effort to make Ethereum transactions faster and cheaper.
A Polygon smart contract allows users to deposit Ethereum tokens, use them within Polygon, and then return them to the Ethereum main chain. It is used to pay transaction fees and participate in proof-of-stake.
Layer-2 solutions, such as Polygon, are intended to help the Ethereum network grow and become more functional. Ethereum sidechains, which operate like high-speed HOV lanes alongside the Ethereum main chain, are the focus of the protocol, which aims to speed up and reduce the cost of Ethereum transactions.
Several decentralized exchanges allow you to buy MATIC tokens, such as Uniswap and Sushiswap. Polygon Bridge is another option for exchanging assets from Ethereum to Polygon.
Polygon is currently traded with a market price of $1.33.
Aave
The Aave platform’s native token is AAVE. The platform’s cryptocurrency, the ERC-20 token, serves primarily as a governance token. The token is used for voting and deciding the outcomes of the platform’s Aave improvement proposals (AIPs). Additional benefits include a transaction fee discount for users who deposit AAVE as collateral and no fee for users who borrow AAVE.
Most of the fees collected by the system are used to burn AAVE, which is a deflationary token. Burning is the act of sending a small number of tokens to a wallet that does not contain the owner’s private key. As a result, the tokens are lost for good. To increase the value of a token, it is necessary to burn more tokens.
As of the time of writing this article, the current price of Aave is about $177.
Cosmos
Cosmos (ATOM) is a cryptocurrency that powers an ecosystem that enables scalability and interoperability across multiple blockchains. You can stake your coins to keep the network running and get more ATOM as a reward.
ATOM is Cosmos Hub’s native currency with three primary functions. To begin, Atom’s gas-based payment system is used by users to pay their transaction fees. A key component of the network’s consensus mechanism, ATOM also gives you the ability to contribute to its management. Coins are minted based on the total number of ATOM staked, and the token is inflationary.
Cosmos is currently traded at about $21.
Immutable X
Immutable X (IMX) is an Ethereum token that powers Immutable, an NFT scaling solution designed to enable near-instant transactions with no gas fees. Staking on Immutable X, voting on the protocol’s future, and paying transaction fees are all possible with IMX.
About 9,000 transactions per second can be facilitated with Immutable X’s scalability. Because of Immutable X’s global shared NFT order book, the liquidity of NFTs can be improved and their trading volume increased. Any marketplace built on Immutable X can buy and sell NFTs.
It is a utility and governance coin built on the Ethereum blockchain. On Immutable X, the token can be used to pay transaction fees and to motivate both users and developers. Staking and participating in the platform’s governance can earn token holders rewards.
The current price of Immutable X is about $1.75.
Conclusion
To compete with Bitcoin, a number of these cryptocurrencies were created. You will need to do some homework to weigh your options, though. It’s possible to talk about, say, the total market capitalization of all digital currencies (including Bitcoin) or just the total market capitalization of Bitcoin (including all other cryptocurrencies combined).
