Mike Bjorkman believes that crypto investment is still a smart decision, in spite of a large volume of naysayers and some issues with value over the last few years. He believes Crypto is a long-term investment, and success in this market requires consistency and persistence. He recently shared some of his top tips for investing in crypto in 2022 and believes that they can help many investors thrive.
Mike Bjorkman on Important 2022 Crypto Investment Trends
Mike Bjorkman outlined the most important step for first-time crypto investors: knowing how to spot scams. Unfortunately, the market is filled with people trying to take advantage of uncertain buyers who are willing to steal money through fraudulent token sales and other scam types. It is best to work on a well-known exchange and to trade only with respected dealers and investment professionals.
It is also important to use trusted and reliable crypto wallets and to never use questionable wallets from app stores. The safest and most secure crypto wallets include Public, Ledger Nano Crypto Wallet, Coin Base, Electrum Crypto Wallet, Exodus Crypto Wallet, and Mycellium Crypto Wallet. These wallets are legitimate and provide benefits like low commission prices and easy storage options.
Mike Bjorkman also suggests finding a good centralized exchange (CEX) on which to buy, rather than buying individually between buyers or using the many crypto ATMs popping up across the nation. While ATM exchanges are protected and safe, CEX trades are safer, easier to use and let you connect with many potential buyers. The best options include Coinbase, Kraken, Gemini, and Binance U.S.
As for the best investment options, Bitcoin is still probably the strongest option. Bitcoin remains the best-known and highest-traded option and has remained the best currency to watch when tracking buying trends. Recently, prices on Bitcoin increased to over $23,000 per coin for the first time in several months due to rising interest rates. Experts expect prices to increase even higher.
Otherwise, options include Ethereum (which had a jump of 13% in July of 2022) and are likely to merge fully by September 2022, meaning a higher increase in the future) and Solana. The latter option is nice because it is very user-friendly and tracks every transaction made using it. Currently, Solana has lower fees and a lower investment price, meaning it’s a good time to jump on board.
Other crypto options to watch in 2022 include Polygon and Ripple. Polygon is one of the fastest networks available, with over 10,000 transactions per second and a much stronger scaling option than Ethereum. Furthermore, it is compatible with Ethereum, meaning it should be easier for traders to buy and sell these different crypto options on multiple markets across the world.
Ripple also has a fairly fast trade platform and a much lower energy consumption option than Bitcoin and others. This lower energy profile is a big deal when fears of excessive crypto pollution have some countries cracking down on their trading. Mike Bjorkman states that Ripple is a good option to watch for this reason, particularly if you’re an environmentally conscious crypto trader.
