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What Cryptos Should I Buy in 2022? – ReadWrite

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What Cryptos Should I Buy in 2022? - ReadWrite


The cryptocurrency world is at an all-time high. Now is a great time to look at the best cryptocurrency in the industry and find which ones to invest in. Additionally, you can also cash in on the trend by getting into cryptocurrency development or crypto coin creation.

The recent surge in Bitcoin and Ethereum prices led to the cryptocurrency market reaching the three trillion mark. However, it is not all sunshine and roses here. The market faced instability throughout 2021, and several coin prices shifted dramatically. Despite these downfalls, several cryptos surely will stand the test of time.

The key to good crypto investment is to avoid quick assessments and impulse decisions. This market values consideration over impulse. Take time to research, find and identify cryptocurrencies with ambitious roadmaps.

It is also essential to remember that multi-fold returns in altcoins can occur in seconds. With that understood, it is now time to look at seven cryptos poised to surge in 2022. Take note of these coins as they could make you rich next year.

Market Move (MOVE)

One challenge investors face in cryptocurrency is the rug pull trick. Here, investors see a coin with attractive benefits that ticks all the requirements. So they invest in it, and suddenly, the coin gets de-listed from the exchange, and the developer runs away with the funds.

MarketMove aims to address this problem through AI-driven contract audits. This platform separates quality projects with solid use case scenarios from completely speculative crypto projects.

Another notable feature is that MarketMove can bring significant change in one area. Presently, buying and selling on DEX does not allow for stop-loss or limit orders. The project plans to introduce these features for the investor’s benefit.

On the token side, MarketMove has an initial supply of one trillion tokens. But, more than three-fourths of these tokens were burnt at the start.

Additionally, the MOVE token is hyper-deflationary. Typically, users buying and selling a token incur an associated fee. This burn reduces the token supply, and holders can earn reflection. In the future, MarketMove intends to launch staking protocols to their platform. Staking can provide additional returns to users.

Overall, the MOVE token is the ideal choice for any long-term investor. Moreover, the company behind the coin intends on pursuing a big market push in the first quarter of 2022. As a result, many investors speculate that the coin will provide multi-fold returns next year.

Feed Every Gorilla (FEG)

Another token worth considering as an investment in 2022 is the FEG token. This token can provide multi-fold returns. The objective behind this token is to provide a decentralized transaction network. This network operates on the Ethereum and Binance Smart Chain platforms.

There are two reasons why to consider investing in this token.

The first reason is that FEG is developing smart decentralized finance. The last year and this one were landmark times for decentralized finance, and the industry boomed. The total assets available in decentralized finance are said to be more than two hundred billion USD. FEG plans on bringing additional improvement and innovation to the industry.

Also, the FEG token is a hyper-deflationary token with the current supply at forty-two quadrillion. Presently, the supply is high; however, there is a continual burnt on the Ethereum and Binance Smart Chain network. Therefore, every transaction triggers a one percent burn rate and gradually reduces the supply. Additionally, the holders earn a reward of one percent tax on every transaction.

inSure Defi (SURE)

This token claims to be the world’s first insurance ecosystem with staking options. The purpose of Sure is to protect investors from scams, rug pull ventures, and portfolio devaluations.

Users here are required to purchase the SURE token and apply for insurance. The insurance activates seven days after the SURE token is placed in the digital wallet.

The initial plan requires the user to purchase 2,500 SURE tokens. These tokens provide insurance for four months and cover one thousand USD. Another plan requires the user to purchase 500,000 SURE tokens. This plan provides insurance coverage for two years and the amount of 140,000 USD.

SURE token brings change to a space seeing more scams and stolen fund schemes taking place daily. Also, note that the SURE tokens provide a yearly percentage yield of sixty percent. An equally enticing fact is that the token price increased by two hundred percent in the last twelve months.

Any investor here benefits from the insurance factor and the token holding advantages. An increase in investors looking for insurance coverage in 2022 will increase the token demand supply and translates to additional growth.

Internet of Energy Network (IOEN)

Presently, the global community looks toward clean energy as a solution to the fuel crisis. The IOEN token is an interesting pick, thanks to its strong use case.

The project plans to use blockchain technology that enables homes to work together as an intelligent, cooperative electricity system. This process ensures that the IOEN creates several small-scale grids that unlock opportunities for renewable energy.

Initially, the company listed the IOEN token on the Uniswap platform. However, the company now initiated listing on a centralized exchange. The benefit here is that users can purchase the IOEN token without paying a high Ethereum gas fee seen on regular DEX.

Rari Governance Token (RGT)

RGT is one of the top performers in this list as it has had returns of over twelve thousand percent in the last year. However, experts believe the coin value will move to the three-digit mark. The reason for this claim is the token’s limited supply. The RGT coin has a maximum supply of twelve and a half million in circulation.

The Rari token is a decentralized non-custodial DeFi token that independently earns rewards for users. Here, users can deposit crypto, and the token starts earning yields for them.

Additionally, Rari also launched “Market,” a flagship interface for interacting with the Fuse network on Polygon. The purpose of the RGT token is to provide investors with financial technologies meant for the elite.

Decentraland (MANA)

MANA’s token price surged by more than four thousand percent in the last twelve months. This surge resulted in the token trending on several cryptocurrency platforms. For example, Decentraland is a virtual reality platform operating on the Ethereum network. Here, people can create and monetize their content.

The platform aims to leverage the point that people spend more time in the digital world for work and pleasure. There is a sizable audience here, and the platform shows growth in terms of audience base and token price upside.

The MANA token enables users to purchase land, services, and goods on the virtual platform. In addition, the token incentivizes creating content, which can directly impact user growth. On the whole, the MANA token can further rally as the virtual world grows in 2022.

Conclusion

The cryptocurrency industry is growing in leaps and bounds. We see more growth coming from the industry every day, and people cannot get enough of it. Everyone wants to invest here and reap the benefits. However, they don’t know where to pool their money and are open to frauds and Ponzi schemes.

This list highlights the tokens that show promise next year. That way, users can make an informed decision before investing.

Image Credit: Provided by the Author; Thank you!

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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