Crypto coin review – Top 10 worst crypto coins of 2022

Avoid these crypto coins at all costs if you want a crypto portfolio worth smiling about in 2023!

What are the top 10 worst-performing crypto coins in 2022?

#	Name	Price	24h	Volume(24h)
1	ChainXCN	$0.01611	3.85%	$7,876,783
2	TONcoinTON	$2.36	3.79%	$58,604,634
3	Neutrino USDUSDN	$0.5185	2.82%	$546,885
4	StacksSTX	$0.2262	2.82%	$4,099,326
5	ZilliqaZIL	$0.01731	2.11%	$16,597,585
6	BitDAOBIT	$0.2799	2.10%	$7,414,588
7	IOTAMIOTA	$0.1714	2.07%	$11,550,265
8	HeliumHNT	$1.87	1.92%	$1,283,401
9	NEMXEM	$0.02928	1.86%	$7,026,594
10	MultiversX (Elrond)EGLD	$33.59	1.78%	$25,305,948

 

What to look out for when investing in cryptocurrency?

1.   Understand the mechanism of investing in cryptocurrencies

Locate platforms that allow you to deposit and withdraw local currency to easily move funds in and out of the cryptocurrency ecosystem. Familiarize yourself with basic buying and selling trades to simplify the process when the time is right. Keep in mind that mainstream adoption of cryptocurrencies for everyday purchases is still a work in progress, so the ability to cash out into local currencies will be key to utilizing any profits made.

2.  Diversify your portfolio for long-term success

It can be tempting to go all-in on a single token due to factors like strong believers and persuasive scammers, but the vast majority of projects offer modest gains or fail in bear market conditions. The safest approach in a risky crypto market is to diversify your portfolio to include top projects in popular sectors like DeFi, NFTs, gaming, and layer-one protocols. After covering those bases, you can make smaller bets on potential moon shots, but monitor position size to minimize losses.

3.   Research before you act

Take the time to thoroughly research projects to determine if they have long-term sustainability and if they align with your interests. Never purchase something just because someone you know (or don’t really know) told you to, especially if they promise guaranteed returns or a risk-free experience. Crypto is inherently risky, and it’s likely that 95% of the tokens that exist today will go to zero over the next decade.

4.   Check if the crypto project is up to date with their roadmap

Check out the latest developer activity for a project to get an idea of its progress. Any reputable project will also provide a link to its GitHub repository for an up-to-date look at its work. If the last GitHub entry was months ago, but the roadmap indicates upcoming major releases, it could be a red flag that the project is attempting to scam its way to success before rug-pulling unsuspecting investors.

5.   Timing is everything

Many investing decisions in the crypto community are driven by emotions, which can lead to poorly timed investments and lost value. When a token starts to gain traction in the market, forces may conspire to drive the rally higher and attract unsuspecting investors who can’t resist the fear of missing out (FOMO). Resist the FOMO feeling and wait for the blow-off top and price consolidation if it’s a token you must have. Otherwise, find another solid project that’s been trading flat but has potential, and ride its wave higher, taking profits when the time is right. If it’s a project you want to hold long-term, don’t let fear, uncertainty, or doubt (FUD) sway you from your resolve.

6.   Only invest what you can lose

Remember that cryptocurrencies are inherently risky, and most tokens will eventually go to zero. Keep this in mind, and never invest more than you can afford to lose. Funds you invest in the crypto market should come from what’s left after all your expenses and a little extra for emergencies. There’s no guarantee that the value of a token will hold in the long term, and even if it does, it may take years to regain what was lost during a bear market.

7.     Keep the long-term in mind

Many people get involved in cryptocurrency with the goal of fast riches, but most of them fail quickly due to scams and pitfalls. Instead of focusing on short-term gains, keep the long term in mind and identify solid projects with real potential. Do your research, diversify your portfolio, and don’t invest more than you can afford to lose. Remember that crypto is inherently risky, and it’s important to approach investments cautiously.

Why do crypto coins fail?

One reason for the failure of many cryptocurrencies is the oversaturation of the market. With so many entrepreneurs and developers entering the cryptocurrency space, it can be difficult for anyone coin or token to stand out. This has led to an excess of available coins and tokens, making it hard for any one project to gain traction and value. As a result, there are now thousands of inactive or “dead” cryptocurrencies, showcasing the difficulties of success in this industry.

Another factor contributing to the failure of some cryptocurrencies is the lack of stability. The value of cryptocurrencies relies heavily on supply and demand, so if the supply exceeds the demand, the price is likely to decline, and vice versa. However, the demand for an asset can change frequently, and when interest wanes, the demand and price often follow suit. Other factors can also impact the price of a cryptocurrency, such as regulations, scandals, and events in the traditional financial world. Additionally, some cryptocurrencies simply don’t have enough utility or application to maintain their value.