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Best DeFi crypto coins and projects to invest in 2022

07 Sep, 2022
Best DeFi crypto coins and projects to invest in in 2022

Decentralised finance (DeFi) is a logical step in developing the ideas embedded in the first cryptocurrency, Bitcoin. The DeFi sector is now actively developing and has many projects to choose from. In this article, we discuss the best and most promising DeFi cryptoprojects and coins in 2022.

What are DeFi coins?

DeFi refers to various services that allow you to do the same things that you would do in a regular financial institution, such as lend or borrow money, buy insurance, deposit money, buy, pawn and trade various assets. But unlike standard financial institutions, they are based on smart contracts and blockchain technology.

A DeFi coin is a cryptocurrency token used to participate in the DeFi economy. Specifically, DeFi coins are cryptocurrencies that are used in decentralised exchanges, liquidity pools, for yield farming, lending, asset management and more.

Difference between DeFi and centralised finance

Centralised finance (CeFi) refers to centralised financial institutions that provide financial services to their customers. These types of institutions include traditional banks and centralised cryptocurrency exchanges like Binance and Coinbase. However, some experts distinguish between CeFi, centralised companies dealing predominantly with crypto assets, and traditional finance (TradFi), which combines traditional financial institutions, such as banks.

Centralised vs decentralised

The main difference between DeFi and CeFi is that DeFi is decentralised, i.e., no single authority sets the rules and enforces them. DeFi technologies are publicly available open-source tools, usually based on smart contracts. This helps create a fully transparent financial system independent of regulators and intermediaries and accessible to everyone. 

It's worth noting that DeFi proposes the use of a non-custodial wallet. It's the responsibility of the user to keep the private keys secure.

Other important differences between DeFi and CeFi:

 

DeFi

CeFi

Control over assets

Users have complete control over their assets

User assets are controlled by a third party

Personal data required

Usually only a public key

Identity documents, proof of address, etc., as part of KYC procedures

Commission costs

Variable, but usually low

Set up by an intermediary, usually higher than in DeFi

Accessibility

Accessible to anyone with internet access, no geographical restrictions

There may be geographical and other restrictions imposed by a central authority

Transparency

Blockchain provides full transparency

Low transparency

Fraud protection

Users are solely responsible for the security of their assets

User assets are usually protected by regulations

Customer support

Not available

Available

Best DeFi to invest in 2022

There are many DeFi crypto projects that have already gained prominence, and new ones keep springing up. It's difficult to navigate through all of them. If you're considering investing in DeFi coins, do your own research, but we'll give you a hint as to which projects might be worth looking at.

Most popular DeFi projects in 2022

Let's first look at the list of the most popular DeFi projects and their cryptocurrencies.

The most popular DeFi cryptocurrencies (as of 06/09/22)

Name

Ticker

Price

Market cap

Solana

SOL

$31.07

$10,868,897,426

Dai

DAI

$1.00

$6,861,551,566

Avalanche

AVAX

$18.52

$5,459,372,354

Wrapped Bitcoin

WBTC

$18,987.18

$4,709,952,235

Uniswap

UNI

$5.95

$4,434,621,959

List of top DeFi coins and projects to invest in 

"Most popular", however, doesn't mean "most promising from an investor's point of view". Below we've listed several DeFi cryptocurrencies that we believe are among the most promising investments. However, remember that investing in cryptocurrencies is highly risky, and the situation in the crypto industry can change quickly. Hence, there's no guarantee that these cryptocurrencies will bring good returns for investors.

  • Avalanche (AVAX). A decentralised, open-source platform that creates an ecosystem for the DeFi industry. The platform allows DeFi apps, financial start-ups, trading and other services to be launched on it.

AVAX statistics (as of 06/09/22)

Current price

$18.46

Market rank

#16

Market cap

$5,438,135,560

Circulating supply

294,709,502.42 AVAX

Max supply

720,000,000 AVAX

Daily trading volume

$463,401,398

All-time high

$146.22 (21/11/21)

All-time low

$2.79 (31/12/20)

Website

https://www.avax.network/

Avalanche's website

  • Uniswap (UNI). One of the most popular decentralised crypto exchanges (DEX). Being based on Ethereum, it allows users to exchange ERC-20 tokens. UNI is the platform's governance token.

UNI statistics (as of 06/09/22)

Current price

$5.89

Market rank

#20

Market cap

$4,390,506,483

Circulating supply

745,888,080.50 UNI

Max supply

1,000,000,000 UNI

Daily trading volume

$161,484,565

All-time high

$44.97 (03/05/21)

All-time low

$0.419 (17/09/20)

Website

https://uniswap.org/

  • Chainlink (LINK). A decentralised oracle network that enables smart contracts to connect securely to external data sources. Users can both use existing oracles and add new ones to the network.

LINK statistics (as of 06/09/22)

Current price

$6.71

Market rank

#24

Market cap

$3,302,087,998

Circulating supply

491,599,970.45 LINK

Max supply

1,000,000,000 LINK

Daily trading volume

$412,405,648

All-time high

$52.88 (10/05/21)

All-time low

$0.1263 (23/09/17)

Website

https://chain.link/

Chainlink's website

  • Aave (AAVE). Aave is a DeFi lending protocol that enables its users to lend and borrow crypto assets. AAVE is the platform's governance token.

AAVE statistics (as of 06/09/22)

Current price

$83.97

Market rank

#41

Market cap

$1,176,547,242

Circulating supply

14,011,537.63 AAVE

Max supply

16,000,000 AAVE

Daily trading volume

$168,331,498

All-time high

$666.86 (18/05/21)

All-time low

$25.97 (05/11/20)

Website

https://aave.com/

  • 1inch Network (1INCH). The platform is an aggregator of decentralised exchanges. One important advantage is its ability to split a single trade transaction across multiple DEXes, which allows users to trade with minimal price slippage and time delays.

1INCH statistics (as of 06/09/22)

Current price

$0.6117

Market rank

#93

Market cap

$355,527,983

Circulating supply

581,148,170.38 1INCH

Total supply

1,500,000,000 1INCH

Daily trading volume

$45,066,986

All-time high

$7.87 (08/05/21)

All-time low

$0.5178 (18/06/22)

Website

https://1inch.io/

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