The Best Crypto Mediums of Exchange for 2022: Bitcoin, Dash, Litecoin, and More

2022 should see a rapid maturation rate of the global crypto industry, industry experts believe. Several nations are trying to find ways to regulate the crypto space, without having to restrict activities related to it entirely. As the crypto space is seemingly poised for further expansion, let’s take a closer look at the elements of this sector.

In previous editions, we covered the best Web 3.0 cryptos, the best Gaming & Metaverse cryptos, the top 5 public blockchains and the best decentralized finance (DeFi) cryptos.

Today, let’s talk about the best medium of exchange cryptos for 2022.

What are medium of exchange cryptos?

Cryptos Mediums of Exchange are those that can be used to buy and sell items (physical or virtual) or that can quickly be converted into “cash”. These cryptos usually have a higher volume to market capitalization ratio (VMR) than other cryptos.

In my opinion, the most important medium of exchange cryptos for 2022 are:

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Dash (DASH)
  4. Litecoin (LTC)
  5. Monero (XMR)
  6. ZCash (ZEC)

To note: Fiat-pegged stablecoins, e.g. Tether (USDT), are also used as a medium of exchange but have been excluded from this list.

The table below shows the main metrics of these cryptos:

Last name Price Market capitalization
Bitcoin (BTC) $37,000 $705 billion
Bitcoin Cash (BCH) $294 $5.6 billion
Dash (DASH) $94 $994 million
Litecoin (LTC) $108 $7.5 billion
Monero (XMR) $144 $2.6 billion
ZCash (ZEC) $90 $1.2 billion

Source: (rounded)

Best Medium of Exchange Cryptos for 2022

1.Bitcoin (BTC)

Bitcoin was invented to be a purely peer-to-peer version of electronic money that would allow online payments to be sent directly from one party to another without going through a financial institution.

The first real-world bitcoin transaction took place on May 22, 2010, and involved the exchange of 10,000 bitcoins for a $25 pizza (about 1,875 rupees). On September 7, 2021, El Salvador became the first country in the world to recognize Bitcoin as legal tender. Today Bitcoin is accepted by millions of businesses around the world.

Bitcoin transactions are considered pseudo-anonymous since the Bitcoin blockchain is transparent – anyone who knows your address can see the details of any transactions you have made. The Lightning Network, which is a second layer for Bitcoin, increases the privacy of Bitcoin transactions.

RohasBCH Bitcoin_bch

2. Bitcoin Cash (BCH)

In July 2017, Bitcoin (BTC) miners representing over 80% of Bitcoin’s computing power voted to incorporate SegWit2x (separate witness) technology to improve Bitcoin.

Many miners and developers, who did not want SegWit2x to be introduced, launched a hard fork and created a new currency – Bitcoin Cash (BCH).

BCH has its own blockchain and processes transactions faster and cheaper than BTC.

RohasDASH Dashboard

3. Dash (DASH)

Dash (digital currency) is one of the first cryptocurrencies (born in 2014) and is a fork of Litecoin (LTC). It was created to be an “enhanced version of Bitcoin” by providing enhanced privacy and faster transactions.

Some of Dash’s unique features are:

  • Masternodes: These improve network availability and efficiency. They also handle governance, secure storage of user data, and instant and private transactions.
  • InstantSend: which allows instant payments.
  • chain locks: which make the blockchain instantly immutable.
  • Private shipment: which allows additional optional privacy for transactions.

Rohas LTC Litecoin

4. Litecoin (LTC)

Litecoin (LTC), also called bitcoin’s younger brother, is a popular medium of exchange because it enables fast, secure, and low-cost payments. It is accepted by thousands of merchants worldwide.

Litecoin is a fork of Bitcoin Core source code and is also referred to as “Bitcoin lite”.

RohasXMR Monero_XMR

5. Monero (XMR)

Monero (XMR) allows private and anonymous transactions and is one of the most widely used darknet currencies in the world. It hides senders and receivers. It is said that one of the co-inventors of XMR was Bitcoin inventor Satoshi Nakamoto.

Unlike Bitcoin, XMR is completely fungible. By default, Monero hides details about senders, receivers, and the amount transferred. Stealth addresses are created for each transaction and are only used once.

RohasZEC ZCash_ZEC

6. ZCash (ZEC)

Zcash is a “private coin” and by default its transactions do not reveal sending and receiving addresses or the amount sent. Optionally, this data can be disclosed for auditing or regulatory compliance purposes.

Zcash uses zk-SNARK zero-knowledge proof technology. This allows nodes to verify transactions without revealing sensitive transaction information.

Rohas Nagpal is the author of the Future Money Playbook and chief blockchain architect of the Wrapped Asset Project. He is also a retired amateur boxer and hacker. You can follow him on LinkedIn.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, Gadgets 360 Podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get it. your podcasts.

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