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6 Best New Cryptocurrencies to Buy in 2022 and How they Work

By Kane Pepi

The "crypto winter" remains in full force, driven by a confluence of factors that have resulted in bearish sentiment across the broader financial markets. However, many new cryptocurrency projects have emerged in 2022 with exceptional potential, providing rays of hope during this challenging period.

6 best new cryptocurrencies to buy in 2022

Let's take a look at these projects and find out why they are attracting so much attention from investors.

Battle Infinity—Overall best new crypto coin to buy in 2022

Leading the way when it comes to the best new cryptocurrency for 2022 is Battle Infinity (IBAT). Battle Infinity is an upcoming crypto-gaming platform combining metaverse elements with play-to-earn (P2E) gaming. Combining these two concepts provides an exciting ecosystem where players can interact with others and generate tokenized rewards.

Battle Infinity’s flagship feature is its IBAT Premier League, a fantasy sports league with NFT integration. Within the IBAT Premier League, users can construct sports teams and generate points based on real-world performances. Battle Infinity will then distribute rewards based on which users top the league or complete daily tasks.

These rewards are denominated in IBAT, Battle Infinity's native token. IBAT is a BEP-20 token that underpins the entire Battle Infinity ecosystem and can be used to purchase in-game assets from the Battle Market. These assets are structured as NFTs and include accessories for users' avatars and plots of virtual land within the Battle Arena, Battle Infinity's rich virtual world.

Battle Infinity's ecosystem also features a token swapping service, a P2E gaming store, and a built-in staking mechanism, providing users with a true ”all-in-one” experience.

Although the platform is still in development, investors looking to gain exposure to Battle Infinity's growth can purchase IBAT through the ongoing presale, priced at $0.0015 per token. Those searching for more information can join the Battle Infinity Telegram group, which provides regular updates on the project’s progress.

Lucky Block—New crypto project with exciting token upgrade

Another of the best new cryptos to invest in is Lucky Block (LBLOCK). Lucky Block is a crypto-gaming sensation that caught the market's attention in early 2022 when its native token, LBLOCK, launched on PancakeSwap. This launch was a huge success, as the token surged over 3,000% from its presale price.

Lucky Block’s main feature is its innovative daily competitions, which offer users a fully-decentralized way to earn prizes. These prizes are denominated in LBLOCK, meaning the dollar value of these prizes can increase as the LBLOCK price climbs higher.

One of the most exciting upgrades to the Lucky Block ecosystem is the upcoming release of LBLOCK v2. This token uses the ERC-20 standard rather than the BEP-20 standard used by the original LBLOCK. In turn, LBLOCK v2 opens up an array of exciting possibilities, including listings on major centralized exchanges (CEXs).

Several listings have already been confirmed, such as an LBank listing on July 25 and an MEXC listing on August 1. These listings will allow a new demographic of traders to access LBLOCK investing, leading to greater liquidity and positive price movements.

Finally, since LBLOCK v2 no longer features the built-in sales tax, this token will now be a viable option for day traders and scalpers. Those looking to learn more about LBLOCK (and the Lucky Block ecosystem) can do so by joining the official Telegram group or participating in the Discord server.

Loopring—Innovative Ethereum scaling protocol

Loopring (LRC) is a type of software running on the Ethereum network that aims to reduce the scalability issues associated with building and interacting with dApps. Using a style of cryptography called zero-knowledge rollups (zkRollups), with essentially “batches” transactions together, then sends them back to Ethereum for validation.

This approach makes network activities much more efficient, reducing the GAS fees that have plagued Ethereum users over the past 18 months. Loopring also helps power decentralized exchanges (DEXs), with the key differentiator being that these are order book-based rather than liquidity-pool based. Investors looking to gain exposure to Loopring’s growth can purchase LRC – the protocol’s native token.

ApeCoin—Popular token with strong community backing

ApeCoin (APE) is a new crypto listing with inherent ties to Bored Ape Yacht Club (BAYC), the super-popular NFT collection favored by celebrities and A-listers. Although APE isn’t directly offered by BAYC’s team (Yuga Labs), the token has become closely linked to the collection and has been chosen as the native currency of ”the Otherside”—Yuga Labs’ upcoming metaverse project.

Due to its ties to BAYC, this new crypto project immediately saw big surges and has already amassed a huge community backing. Aside from its “meme coin” potential, ApeCoin has several other use cases, such as its integration within the Benji Bananas game. Finally, since ApeCoin is governed by a decentralized autonomous organization (DAO), all token holders get a say in the project's future direction.

Avalanche—New blockchain network with high scalability

Avalanche (AVAX) is an open-source blockchain network that allows developers to construct dApps, with full support for smart contracts. This network looks to remedy the scalability issues suffered by leading blockchains like Ethereum through the ”Avalanche consensus protocol,” which offers high throughput capabilities.

Instead of using one chain, Avalanche employs three separate chains, each tackling a specific set of tasks. Due to this approach, Avalanche can handle around 4,500 transactions per second, with finality of under three seconds, factors that will appeal to developers looking to construct complex dApps.

Celo—Layer-1 blockchain featuring mobile device support

Concluding our list of the best new cryptos to invest in is Celo (CELO). Celo is a Layer-1 blockchain network that uses a Proof-of-Stake (PoS) protocol and is designed to be compatible with mobile devices. Much like other blockchains, Celo allows users to interact with dApps, many of which are based in the world of DeFi.

Celo features cross-chain interoperability and scope to pay network fees using stablecoins, a relatively rare feature in the blockchain space. Furthermore, since Celo is EVM-compatible, developers who have already constructed their dApps on the Ethereum network can easily port them over to Celo to benefit from lower block times and reduced GAS fees.

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How to find new crypto projects

Finding the best new crypto coins to buy can be challenging, especially given how saturated the cryptocurrency market is. However, the approaches mentioned below can help investors identify high-potential projects with solid credibility:

Utilize social media

Social media has become a valuable resource for crypto investors, with many projects opting to use Reddit and Twitter as marketing channels. According to Statista, the number of Twitter users is expected to grow to nearly 500 million by 2025. As such, more crypto-based discussions will take place on this platform, providing a way for investors to find new projects effectively.

Review whitepapers and roadmaps

Once a project has been found, it’s vital to review its whitepaper and roadmap. These two elements are crucial to determining the project’s longevity since they provide information on the development team, upcoming plans, and marketing activities. If a project's roadmap is both exciting and achievable, it can help drive investment throughout the development phase.

Review crypto media outlets

Finally, investors can also find new projects by reviewing the articles presented on crypto media outlets. These articles are often more objective than the information presented on social media, so they can give a clearer view of a project's potential.

Deciding whether to invest in a new cryptocurrency

Before deciding which new crypto project to invest in, these are key factors to bear in mind:

KYC-verification—Know Your Customer (KYC) verification is when a platform requests some identification details during the onboarding procedure. KYC-verified projects tend to be more credible, as the team has provided personal information, such as their names and credentials. Battle Infinity, our pick for the best new crypto to invest in, is KYC-verified on CoinSniper, a leading crypto analytics platform.
Audits—As defined by CoinMarketCap, an audit involves examining and analyzing the code of a smart contract to ensure there are no errors or security vulnerabilities. Projects that have been audited (e.g., Battle Infinity) have a much higher degree of safety since they drastically reduce the chance that users and investors will be getting involved in a scam.
Experienced development team—Finally, it's crucial to research the development team before investing in a new crypto project. Ideally, the team should have direct experience in the area the project operates in. For example, a DeFi project may be more successful if the team members have worked in the sector before.

About the Author

Post by: Kane Pepi

Kane Pepi is an experienced financial and cryptocurrency writer with over 2,000+ published articles, guides, and market insights in the public domain. Expert niche subjects include asset valuation and analysis, portfolio management, and the prevention of financial crime. Kane is particularly skilled in explaining complex financial topics in a user-friendly manner. Academically, Kane holds a bachelor's degree in finance and a master’s degree in financial crime. Kane has also begun his doctorate journey, which is researching the intricacies of money laundering in the cryptocurrency and blockchain technology sectors.