Americans are currently facing record-high inflation rates. With inflation rates over 8.5%, and savings accounts providing returns of less than 1%, it’s clear that saving money is akin to losing money.
If you want to keep your hard earned money and build wealth for the long term, you need to invest as much as possible. If you want to see faster, larger gains in your investment, you need to diversify your portfolio and include emerging technologies.
Revolutionary tech companies have the potential to provide some of the craziest returns you can imagine. But what emerging technology do you need to be aware of so that you can invest at the forefront?
Keep reading below to discover the top technology trends for 2022 and beyond.
Digital Currency of the Future
Cryptocurrency has made countless headlines over the past decade. Some have painted it in a positive light, while others have made the whole subject confusing for the average consumer.
While the crypto market tends to be very volatile, the technology behind it is fascinating. And it’s poised to disrupt our ancient financial system that was established long before the internet was invented.
Cryptocurrencies like Bitcoin were created first and foremost as a digital currency native to the internet. This makes it very efficient in the modern age, unlike US dollars or other fiat currencies.
They are also a peer-to-peer currency. This means that one person or entity can send crypto to another person directly, without a middleman like a bank facilitating the transaction.
That means no one in the middle to slow down the process, mess things up, or charge exorbitant fees. It means that you can send money to someone across the planet in just a few seconds, rather than days.
Cryptocurrency is also decentralized. So no person, company, or government controls or oversees individual cryptocurrencies. So governments can’t create more of it on a whim, inflating a cryptocurrency and driving its value down. The value lies entirely in the hands of investors.
On the flip side, peer-to-peer and decentralization mean that crypto can be a bit riskier. There isn’t anyone to protect your funds for you. So when buying and storing crypto, it’s vital you follow best practices to prevent losing money to fraud or scams.
Current Crypto Trends
The cryptocurrency industry began in 2009 when Bitcoin first launched. What first circulated as free, digital coins have become extremely valuable.
Bitcoin is currently the most valuable cryptocurrency. As the original, it will likely remain the king of crypto for a long time. It operates primarily as a store of value, with investors attempting to hedge against inflation with Bitcoin.
Ethereum is the second most valuable cryptocurrency. Launched in 2015, Ethereum was made to serve a practical purpose. The code underlying Ethereum is much more advanced than Bitcoin.
This allows other developers to build on top of the Ethereum network, creating an entire ecosystem that revolves around this crypto coin. Defi, short for decentralized finance, was first made possible by Ethereum.
Investors can now access countless decentralized financial products, including things like savings, earning interest, taking out loans, and much more. And they can do all of this on the Ethereum network, free from banks, paperwork, and red tape.
The other cryptocurrencies worth investing in for the future are those following Ethereum’s lead. The crypto networks that are building platforms, which other developers can build on top of, will be the game-changers in the coming years.
This includes cryptocurrencies like Polygon, Solana, Cardano, Polkadot, Avalanche, and many others.
How to Invest in Cryptocurrency
Investing in digital technologies like cryptocurrency is now easier than ever. For many years, it was quite complex, which is why the average investor never bothered to add crypto to their portfolio.
But today, you can choose to use an online crypto exchange or even a physical ATM, swapping cash for crypto with ease.
If you want to find a crypto ATM near you, check out this company. They have units all over the US and make it super easy for new users to get started. You can buy crypto with cash and sell for cash whenever you want.
Otherwise, you can use an online crypto exchange, which is similar to using an online brokerage account to buy stocks.
Choose an exchange, such as Coinbase, Binance, Gemini, or one of the many others. Then, create an account.
You’ll need to verify your identity, providing information like your social security number and driver’s license. It can take hours, or sometimes days to get verified.
Once you do, you can transfer funds from your bank account and start buying any cryptocurrency your heart desires. You can keep it stored in your exchange account, or you can set up an external wallet and send your crypto there.
Securing Digital Assets Online
Cryptocurrencies are changing the financial landscape of the future. But it’s not just about money anymore.
Crypto has also opened the door for NFTs, or non-fungible tokens. What are NFTs, exactly? They are digital assets, secured on the blockchain.
But what does that mean? It means that you can prove ownership of an asset online, and no one can dispute it.
Currently, the NFT market is dominated by art. Artists can release digital artwork, create an NFT out of it, and give each piece a unique token ID that exists on the blockchain.
When someone buys that particular artwork, they own that token. And only they own that token.
Someone might take a screenshot and claim that they own that token. But only the token holder, as shown on the public blockchain, actually owns it.
Not only is this changing the art landscape, but NFTs have the potential to shake up many other industries as well.
One area that NFTs enthusiasts get excited about is the real estate market. Real estate relies on proving ownership of physical assets like houses or plots of land.
And it relies on transferring ownership of those assets to new buyers. But the current process of doing so is very long, complicated, and expensive.
If the real estate market moved to store titles, deeds, and other information onto the blockchain, the entire process could be streamlined, making it much easier to buy and sell real estate.
How to Invest in NFTs
If you’re investing in NFTs today, you’re likely investing in art or other types of collectibles. And many people have made tons and tons of money doing so.
For example, Bored Ape Yacht Club (BAYC) was originally launched for about $200. In 2022, the value of each NFT in the collection is at least $150,000, with some worth far more.
Investing in NFTs is very similar to investing in crypto. Much of it is the exact same process since you need crypto in order to purchase an NFT.
So follow the steps above to set up an account with an online crypto exchange. Once you have funds in a crypto account, you can take one more step to buy NFTs.
You’ll need a browser-based crypto wallet so that you can use your crypto to make a purchase online. Most people use Metamask. You can install it on Google Chrome, Safari, and other types of browsers.
After a quick setup process, you can transfer cryptocurrencies like Ethereum to your wallet. Then, you can visit any NFT marketplace like Opensea or Looksrare to purchase NFTs secondhand.
Otherwise, you can follow artists and companies directly, and mint an NFT when they first launch them.
Eco-Friendly Emerging Technologies
The reason emerging technology is so important and so valuable to invest in is that it promises a better world. And when new technology delivers, everyone will become a customer, driving value sky high.
There are countless green technologies coming onto the scene that will change our society for the better. Here are some of the most important.
Renewable Energy
When it comes to green tech, nothing is more important than renewable energy. In the modern era, we are consuming non-renewable resources at an alarming rate. This includes coal, oil, and other materials.
But advances in technology are allowing us to power society with the sun, wind, water, and even waste.
Solar power isn’t new, but its importance is growing. With more solar panel producers and higher demand on the commercial and residential levels, economies of scale are driving the price of producing solar panels way down.
Tesla stock has been some of the best tech stocks in recent years. While it’s primarily due to their electric vehicles, they are also major producers of solar panels as well.
But rather than traditional panels on top of a roof, they have developed stylish roof tiles that capture solar energy and convert it to electricity seamlessly, meaning there aren’t any ugly panels on top of your home.
Wind power is also increasing in importance. Along with a massive increase in land-based wind turbines, many nations are currently experimenting with offshore wind power.
Another emerging technology is turning waste into biofuel. Certain biofuel production methods can turn discarded paper, grass, or wood chippings into gas, which will become ethanol.
This production method uses far less water and leaves behind a much smaller carbon footprint than traditional ethanol production.
Electric Transportation
The transportation industry is one of the biggest offenders when it comes to burning fossil fuels and emitting greenhouse gases. Luckily, there are some top tech companies tackling this problem.
Tesla, as mentioned above, has been one of the best tech investments in recent years. Their electric cars are the best on the market. High demand continues to see this company grow year over year.
The good news is that many more companies are starting to compete with Tesla. Newer companies like Nio, Lucid, and Rivian have already experienced high-profile investments and big growth.
Both Ford and General Motors are also making big advances in the EV world. The production of electric pickup trucks is going to be a game-changer.
In Korea, tests are currently being done to install charging units underneath roads. These would charge electric vehicles as they drive down the road, helping to solve a major limitation of electric vehicles.
Artificial Intelligence
AI has been talked about for many years. But in 2022 and beyond, its impact is going to increase exponentially.
We all experience the benefits of AI on a regular basis. Apps like Google Maps, search engines, and assistants like Siri are all examples of everyday AI.
In the near future, we can expect to see self-driving cars across the country as well. What else?
Tutors and personalized textbooks, provide a more specific learning environment for individual students. Chatbots for websites and online companies. Virtual nursing assistants who will help serve more patients faster.
AI is poised to invade every industry and make it more efficient.
A New Reality
The growth of augmented and virtual reality has been astronomical in the past decade. With the recent releases of technology, such as the Oculus, it’s clear that VR and AR are here to stay.
From fun, interactive games, to an opportunity to see and experience the world, right from their home, VR will continue to increase in popularity and importance.
Metaverse will also provide a platform for using this technology consistently by the everyday consumer.
While companies like Facebook are trying to invest heavily in developing the “metaverse,” it’s largely crypto and NFT companies that are moving this concept and industry forward.
VR and AR aside, the metaverse, which is loosely defined today, is going to be a very important concept in the coming years. Investing in the metaverse and the companies that are building it out may be a very wise decision in 2022.
Investing for a Brighter Future
Investing in emerging technologies is one of the best things you can do for your portfolio. Not only that, but you get to support companies and projects that seek to make the world a better, faster, and more efficient place.
And some of this technology may even save the planet from imminent destruction.
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