As of now, there are at least 24,000 crypto projects listed on CoinMarketCap. Probably the total number may be twice this statistic. Due to the private nature of the crypto stratosphere, projects gain mileage after their native assets test new price milestones.
Whatever the case may be, 24,000 coins is a lot. So, what is the best cryptocurrency to buy in 2023?
In this article, Trading Education will share its 11 best cryptocurrencies to invest in for a strong, diversified portfolio.
If you are a beginner or an experienced investor looking for the next big cryptocurrency that will bring you enormous gains, or for which altcoins to buy for proper portfolio diversification, you should follow this feature article keenly.
Diversification Is Key
Although certain digital assets continue to dominate the headlines on crypto news and forecasting portals, there isn’t only a single best cryptocurrency to buy.
Some of the modern crypto projects that have flooded the space have garnered strong use cases. Most of them promise to disrupt various traditional industries as well as well-established cryptocurrencies in terms of market ranking.
You should know that cryptocurrencies are called speculative assets because they are categorized as a highly volatile asset class. As a result, you must be cautioned that investing in cryptocurrency is risky, but investing in only one is relatively riskier.
This is the primary reason why you should diversify your crypto portfolio.
One of the best ways to hedge risk and increase your chances of not missing on the gains of the next hot crypto token is diversification.
Since Trading Education enjoys the fruits of diversification, our list of the best cryptocurrencies to invest in includes coins that,
- Are listed on well-established cryptocurrencies that record millions and billions of daily volume.
- Are used as transactional currencies as well as powering decentralized applications (DAPPS) on their respective blockchains.
- Play an integral role in the different categories of the crypto space.
Because cryptocurrencies are different, you should ensure that you select coins that are relevant to your portfolio and overall investment strategy.
Top 11 Best Cryptocurrencies To Buy In 2023
In the next phase of this article, Trading Education will conduct an extensive study on each coin that will encompass its purpose, team, liquidity, price volatility, and other metrics.
At the end of the article, you will be informed to decide on the best cryptocurrency to buy in 2023.
For the sake of beginners, we will start with popular, well-known cryptocurrencies.
From then we will move on to digital assets with huge potential which continues to be patronized by experienced (sophisticated) traders and investors.
All cryptocurrencies may generate more profits over a given period, but you need to be educated about the possibilities of their issuing authorities as well as their potential in the market.
If you already invested in top cryptocurrencies listed on platforms like eToro, Coinbase, and Binance, etc., and want to add up to your portfolio, then the coins in the other half of our lists may be the right tokens for you.
Best Crypto Assets to Buy in 2023
- Cardano (ADA)
- Ethereum (ETH)
- Bitcoin (BTC)
- Litecoin (LTC)
- Binance Coin (BNB)
- Shiba Inu Coin (SHIB)
- Dogecoin (DOGE)
- Tron (TRX)
- Polygon (MATIC)
- Basic Attention Token (BAT)
- Enjin (ENJ)
1. Cardano (ADA)
Cardano has been touted by most analysts as a technology with a relatively faster scaling platform that is easy for the creation of applications by developers.
Founded in 2015, it aims to solve all problems related to blockchains such as interoperability, sustainability, and scalability. According to analysts, this will help the adoption of blockchain technology by individuals and business organizations.
- Team: Co-founder of Ethereum Charles Hoskinson and former Ethereum associate Jeremy Wood formed Cardano.
- Liquidity: On the various cryptocurrency exchanges that list ADA, the token continues to be of keen interest to traders and investors. ADA has recorded at least $1.8 billion as daily trading volume.
- Price Volatility: Cardano’s price has been on the upside in 2021. ADA opened on 1st January 2021 at $0.1814 and reached an all-time high of $3.10 on 2nd September 2021. Overall, ADA has returned 814% year-to-date (YTD). Since the cryptocurrency continues to see renewed interest from institutional investors, ADA could spike to a new all-time high by the end of 2023.
- Crypto Economics: Hoskinson and his team employed “OUROBOROS” (a part of the proof-of-stake blockchain consensus protocol family) that ushered out its two layers (Settlement and Computation Layer) that help Cardano scale faster. Currently, ADA in circulation is 33.3 billion from a total and maximum supply of 33.7 billion and 45 billion respectively.
What Makes Cardano A Good Investment?
Cardano has accomplished most of its milestones. With the launch of the full mainnet of the Alonzo upgrade slated for September 2021, users will be able to deploy decentralized applications on the protocol. Once this happens, ADA attributes of utility and medium of exchange which makes currencies successful will soar through the roof. With the evolution of its ecosystem, international legislation, ERC20 token converter, and positive crypto market sentiment, ADA could command prices between $5 and $25 in the long term, according to experts.
Simply put, Cardano is the best cryptocurrency to buy today, we would not recommend anyone invest in cryptocurrency without investing in Cardano.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Ethereum (ETH)
Ethereum was the first blockchain project to introduce smart contracts. This is the primary reason why it continues to dominate this space and is tagged as the first mover of smart contracts. Because of moving first, several developers prefer employing the tools of Ethereum to create decentralized applications (DAPPS).
Aside from this, Ethereum allows crypto projects to be created on its Network which is known as ERC20 tokens. What’s more, Ethereum is also at the forefront of the creation of projects in the non-fungible token (NFT) space with most of the platforms built on Ethereum being one of the largest in terms of volume.
Ethereum aims to create an enabling environment where smart contracts and distributed applications can be built and run without any downtime, fraud, control, or interference from 3rd parties.
- Team: Ethereum was founded by Vitalik Buterin and 7 others. Popular among these 7 are Polkadot founder (Gavin Wood), Consensys founder (Joseph Lubin), and Cardano founder (Charles Hoskinson).
- Liquidity: Ethereum’s native token, Ether (ETH), is one of the most traded cryptocurrencies in the space. ETH is in the portfolio of millions of investors. In November 2021, the crypto token has recorded at least $20 billion as daily trading volume.
- Volatility: Like all digital tokens, ETH is one of the most volatile. Ether dropped to new high lows during the peak of the pandemic but recovered well to close 2020 with a price of $737.80. On 1st January 2021, ETH opened at $737.71 and reached an all-time high of $4,859 on 10th November 2021. Overall, the native asset of the Ethereum ecosystem has returned 540% year-to-date (YTD). Since the possibilities of the protocol entice beginners, new investors always consider including ETH in their portfolio. More demand will push its price north.
- Crypto Economics: Ethereum runs a proof-of-work (POW) system but upgrades have been made which will see the whole ecosystem move to a proof-of-stake (POS) system dubbed Ethereum 2.0. When you consider the number of coins in supply, Ether is relatively higher than pioneers Bitcoin (BTC) and Litecoin (LTC). Currently, the circulating supply of Ether stands at 118,563,893.
What Makes Ethereum A Good Investment?
Ethereum continues to add more DAPPS to its ecosystem with a development activity of 297.83 (across August and September 2021). What’s more, the London Hard Fork was finally launched in August to make gas fees more predictable and ETH deflationary. Based on its safe-haven status, constant upgrades, the success of the full capacity of Ethereum 2.0, and positive market sentiment, experts believe Ethereum could be valued in the range of $6,000 to $20,000 in the long term.
Despite its competition, Ethereum is still one of most trusted cryptocurrencies these days.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Bitcoin (BTC)
Bitcoin is the most popular and largest cryptocurrency in terms of trading volume and market capitalization. It is known across crypto circles as digital gold. BTC is the first peer-to-peer protocol that enabled users to send and receive digital funds over the internet without any intermediaries.
- Team: Satoshi Nakamoto is the founder of Bitcoin. The Bitcoin Community is led by cryptographers such as Adam Back and pioneer BTC investor Roger Ver.
- Liquidity: BTC is the most traded cryptocurrency. Despite the ups and downs in the movements of its price, BTC continues to record at least $30 billion as daily trading volume. This means that investor confidence in the digital asset is still high.
- Price Volatility: BTC is one of the highly volatile cryptocurrencies in the space. Because of its popularity, it is highly unpredictable. In the peak periods of the pandemic (March and April 2020), BTC traded below $5,000. The digital gold rallied to end 2020 with a new high of $29,001.72. In the space of 4 months on 14th April 2021, BTC tested a new high of $64,863.10. BTC has been trading below $50,000 for the best parts of May, June, July, and August 2021 and in November reached a new all-time high of $68,789.Overall, BTC has returned 96% year-to-date (YTD). The positives of volatility could see BTC rally to new milestones at the end of 2023.
- Crypto Economics: Bitcoin runs on a proof-of-work (POW) system which offers block rewards to miners. Currently, the circulating supply of BTC stands at 18,888,087 from a maximum supply of 21,000,000.
What Makes Bitcoin A Good Investment?
Bitcoin accounts for 42% of the space because of its usage as a medium of exchange as well as a store of value. Price drivers such as crypto legalization in the case of El Salvador, triggering smart contracts called TAPROOT in November 2021, extensive crypto adoption, and positive risk sentiments could see BTC trade in the range of $100,000 to $300,000 in the long term.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Litecoin (LTC)
Litecoin is the silver to Bitcoin’s gold. This means that LTC is the second cryptocurrency after BTC. It continues to be one of the hottest cryptocurrencies on the market based on its financial metrics.
Created from the source code of the Bitcoin Core Client, Litecoin was created to serve as a digital currency for transactions, and as well find answers to speed and cost issues that mired blockchain from its inception. This has made the token one of the favorites for the payment of goods and services – eventually becoming the official cryptocurrency of the Miami Dolphins.
- Team: Charlie Lee is the founder of Litecoin. As an experienced technology expert, he is a former employee of Google and also served as the engineering director at Coinbase.
- Liquidity: Despite the ups and downs of the cryptocurrency market, LTC continues to be among the top digital tokens patronized by investors. As one of the assets that have a great favourable reserve risk due to investor confidence, LTC has recorded at least daily trading volumes of $2.5 billion in November 2021.
- Price Volatility: LTC is less volatile than most cryptocurrencies but it still sees sharp spikes and sharp recessions. LTC opened on the 1st day of January 2021 at $124.67, reached a new high of $412.96 on 10th May 2021. Overall, LTC has been among the highest performing cryptocurrencies in the market and has returned 64%.
- Crypto Economics: Litecoin employs SCRYPT in its POW system to help it scale faster. Currently, 69 million LTCs are circulating in the market from a maximum supply of 84,000,000 LTCs.
What makes Litecoin a Good Investment?
Litecoin is one of the original altcoins which is classified as a large-cap asset (more than $10 billion in market capitalization). LTC has not been mired by attacks like other coins have. In addition to this, it is an open-source platform that is open to upgrades such as smart contracts in the future. These are the reasons why experts expect LTC to trade for between $500 and $2,000 in the long term.
5. Binance Coin (BNB)
Binance Coin (BNB) is a utility token. Its usefulness can be experienced within the whole Binance ecosystem. BNB, therefore, plays an integral role in the lives of developers and users of the Binance Smart Chain.
The primary purpose why BNB was created was to offer an alternative way of paying for fees charged to traders who primarily use the Binance Exchange.
- Team: Chanpeng Zhao is the Chief Executive Officer (CEO) of Binance, a project he founded in 2017.
- Liquidity: Due to the extensive usage of BNB across the Binance exchange and its listing on several exchanges, the cryptocurrency is one of the few coins which see billions in volume. To be more specific, BNB has recorded at least $2 billion as the daily trading volume in November 2021.
- Price Volatility: BNB is highly volatile. It is one of the altcoins that has gained much from the crypto boom of 2021 as well as one of the tokens that were hit hardest by the new high lows experienced towards the beginning of the bearish cycle in May 2021. BNB opened at $37.37 on 1st January 2021, reached a new all-time high of $690.93 on 10th May 2021, and tested a new high low on 30th May 2021. Though extremely unpredictable, BNB has still returned 1,900% year-to-date (YTD) for investors.
- Crypto Economics: Binance Smart Chain launched on 1st September 2020 and can process approximately 1.4 million orders per second. Currently, BNB is the only digital asset that has the same circulating, total, and maximum supply of 166,801,148.
What Makes Binance Coin a Good Investment?
BNB has found lots of use cases in the form of payment of fees on Binance exchange, utility in online stores that lists it for payments, and as a collateralized asset for crypto-backed loans. Despite the widespread crackdown on cryptocurrency exchanges, analysts foresee BNB trading in the region of $1,500 and $4,000 in the long term.
6. Shiba Inu Coin (SHIB)
Shiba Inu Coin is one of the most popular meme-inspired cryptocurrencies in the market. This has drawn attention to its protocol Shiba Inu. Modeled after Dogecoin, Shiba Inu has gone a step further by using the features of Ethereum to trigger smart contracts. As a result, its ecosystem is expanding with a decentralized exchange, Shibaswap launched, and more to follow in the coming months.
Shiba Inu was created to use the buzz around meme-inspired currencies to provide an alternative way of paying for goods and services and as well help its fans (users) get close to decentralized finance and non-fungible token market.
- Team: Shiba Inu project was created by an individual or group of persons who go by the pseudonym, RYOSHI. The Shiba Inu Community as one of the most vibrant groups in the space is also behind it.
- Liquidity: SHIB has been a tradable token for 15 months. It was worthless in its first 6 months. Currently, SHIB is one of the highly traded meme-inspired tokens, second only to Dogecoin. SHIB has recorded at least $2 billion as daily trading volume.
- Price Volatility: SHIB is one of the coins that is impossible to predict. It has brought gains to some and huge losses to others.
- Crypto Economics: The current circulating supply of SHIB stands at 549 trillion from a total of 1 quadrillion. 50% of the total supply was made available on the Uniswap while the remaining 50% has been burnt by Vitalik Buterin. Overall, more than 20% of SHIBs are still available in the market.
What Makes Shiba Inu (SHIB) A Good Investment?
Shiba Inu has taken meme-inspired currencies to a new level. It continues to increase in terms of utility (adoption) due to its compatibility with Ethereum DAPPS. SHIB will benefit from its listings on exchanges and developments in its ecosystem. Experts believe Shiba Inu Coin could reach new all-time highs of $0.001 in the long term.
7. Dogecoin (DOGE)
Dogecoin is the first joke currency that was created to poke fun at the idea of Bitcoin trying to break into the traditional financial system. Investors took note of Dogecoin through tweets from self-proclaimed DOGEFATHER Elon Musk. At one point, DOGE was worth more than most mainstream companies.
DOGE has found a huge base through its community and is one of the most used cryptocurrencies in the market today.
- Team: Software developers Jackson Palmer and Billy Markus are widely credited as founders of Dogecoin.
- Liquidity: Although, DOGE does not see the huge investor interest it experienced in March, April, and May 2021, it has recorded at least $1.9 billion as daily trading volume. This means that investors have not abandoned the token. They still believe in its potential in the market.
- Price Volatility: Dogecoin has seen price fluctuations. After opening 2021 at $0.004681, DOGE climbed to a new all-time high (ATH) of $0.7376 and it’s currently trading at $0.22. Overall, DOGE has returned 4,057% year-to-date (YTD).
- Crypto Economics: To meet the demand of traders and investors, DOGE is inflationary. There are more than 132 billion coins on the market and more coins continue to be added to the total supply periodically.
What Makes Dogecoin (DOGE) A Good Investment?
Dogecoin is a large-cap asset with more than $30 billion in market capitalization. Aside from this, DOGE has increased use rates from partnerships with Coin Flip, Dallas Mavericks, and CovCare, etc. Elon Musk and other celebrities continue to give DOGE mileage in the space. Experts think DOGE could reach highs of $2.50 in the long term.
8. Tron (TRX)
Tron dubbed itself as an Ethereum Killer. The TRON project is one of the followers of Ethereum when it comes to the use of smart contracts. It continues to play an active role in decentralized finance with products under decentralized lending, insurance, gaming, and exchange.
TRON aims to help creators of online content have an equal say in how their content is remunerated and shared. It wants to use its 3rd generation protocol to improve the royalties of creators.
- Team: Justin Sun founded Tron in 2017. Sun is the CEO of the TRON Foundation.
- Liquidity: Tronix (TRX) has never been short of liquidity. TRX is one of the few cryptocurrencies which is considered an attractive investment. This is because the price is low but investor confidence is high. This is why more liquidity in the region of at least $2 billion is being thrown into the digital asset daily since the start of November 2021.
- Price Volatility: TRX is highly unpredictable. TRX is a high-risk asset but considering how experienced you are, you can take advantage of the multi-percentage swings and make gains in the short, medium, and long term.
- Crypto Economics: Tron is one of the fastest scaling blockchains in the market due to its network processing approximately 2,000 transactions per second. Currently, there are 71.66 billion TRX in circulation from a total supply of 100.85 billion TRX.
What Makes Tron (TRX) A Good Investment?
Tron is backed by possibilities of its blockchain NOT mere speculation. Price drivers such as the reputation of the TRON Network, partnerships, and favourable technical indicators can increase the valuation of the coin to $0.18 to $0.20 in the long term.
9. Polygon (MATIC)
Polygon (MATIC) is the native token of the Polygon Network. As a layer 2 scaling solution, Polygon aims to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability in blockchains.
- Team: Polygon was founded in October 2017 by Sandeep Naiiwal, Jaynti Kanani, and Anurag Arjun. Aside from them, the team comprises members from the Ethereum Foundation, Coinbase, EthHub, Bankless, and ConSenSys.
- Liquidity: As a token, MATIC is used in staking, paying for transaction fees, and governance of the Polygon network. MATIC continues to see huge investor interest which is evident in the $700 million average volumes being seen on cryptocurrency exchanges daily.
- Price Volatility: MATIC is among the cryptocurrencies that do not experience huge spikes in drops or gains. The cryptocurrency has maintained a certain price range which is healthy for its traders and investors.
- Crypto Economics: There are 7.02 billion MATIC in circulation from a total supply of 10 billion MATIC.
What Makes Polygon (MATIC) A Good Investment?
Polygon’s strength comes from its extensive usage in the Polygon ecosystem. This is why the experts estimate MATIC to command prices of $4.82 up to $6.1 in the long term.
10. Basic Attention Token (BAT)
Basic Attention Token represented by BAT on exchanges is a token used to tip users for their attention while providing advertisers with a better return of their ad spend. It is a token that is mostly utilized by fans of the Brave Browser.
- Team: Brendan Elch and Brian Bondy founded BAT in 2017. They have been involved in numerous projects such as Brave Browser and Mozilla.
- Liquidity: Although BAT doesn’t see volume in the likes of BTC, ETH, ADA, and DOGE, investor interest in the asset continues to be very high. BAT has seen a minimum of $170 million as daily trading volume. This signals investor confidence in the asset.
- Price Volatility: As a digital token, BAT has not been able to wane off the unpredictability of crypto tokens. BAT reached an all-time high of $1.91 on 28th November and 5 months later; it’s trading for less than 20% of its ATH.
- Crypto Economics: 99% represented by 1.49 billion are circulating in the market from a total and maximum supply of 1.5 billion.
What Makes Basic Attention Token (BAT) A Good Investment?
BAT’s strength is in its use in the Brave ecosystem. The Brave ecosystem has surpassed $36 million monthly active users. This bodes well for BAT’s exposure to millions of users. Experts forecast BAT to trade in the range of $2 and $4 in the long term.
11. Enjin (ENJ)
Enjin provides an ecosystem of interconnected blockchain-based gaming products. To put it simply, Enjin allows developers to tokenize in-game items which can be bought, sold, and traded with real-world value.
- Team: Enjin was originally founded by Maxim Blagov and Witek Ramoski in 2009 before the Enjin Marketplace on Ethereum was launched in September 2019.
- Liquidity: In November 2021, ENJ has recorded at least $500 million as daily trading volume. This makes it a top 100 asset signaling investor interest since there are more than 11,000 coins in the market.
- Price Volatility: ENJ continues to see ups and downs due to sharp spikes in price followed by sharp recessions. Its volatility can be summed up in reaching an all-time high of $4.85 in November and therefore, trading for less than 26% of ENJs of its new high.
- Crypto Economics: There are more than 838 million ENJ in circulation from a total supply and maximum supply of 1 billion ENJ.
What Makes Enjin Coin (ENJ) A Good Investment?
The strength of Enjin Coin comes from the gaming industry. This means that the ENJ coin will continue to be exposed to millions of users on the Enjin protocol. More people will take note of the adoption of its issuing authority and pour more liquidity into the token. Experts believe ENJ could trade for a coin in the range of $5.5 to $35 in the long term.
Are You Looking For More Great Cryptocurrencies To Buy?
We are glad that you read all the recommended cryptocurrencies from the 1st to the 11th coin. We hope you have been well-informed about the top 11 cryptocurrencies to buy for 2023. We hope this extensive article will serve as a guide towards making the right decisions when it comes to your digital asset investments.
If you are searching for more great cryptocurrencies to invest in, or you want to find out if this or that coin is going to be the next big token, this is a quick summary of what you have to do.
Join Crypto Communities Online
Crypto Communities have taken over the internet thanks to the awesome heights respective novel tokens continue to reach weekly. You can join groups on Facebook, Reddit, specifically created websites for certain crypto projects, and hashtags on Twitter that continue the conversation when new updates or all-time highs have been reached by certain cryptocurrencies.
Aside from these, you should stay up-to-date with crypto trends around cryptocurrencies, decentralized finance, non-fungible tokens, and even central bank digital finance. This will help you stay up to speed with the latest developments in the space.
Constantly reading cryptocurrency news and in-depth articles on Trading Education and other reputable financial portals will go a long way to help you. This will give you in-depth knowledge about the pros and cons of investing in Ethereum, Bitcoin, Shiba Inu Coin, Cardano, and others, and why they are good investments.
Moreover, depending on the cryptocurrency exchange of your choice, you can follow expert traders who continuously make gains week in and week out and copy their trades. Copy Trading is one of the best ways for you as a beginner to know what coins to buy and more essentially, how to balance a portfolio.
Checkout Credible Crypto Exchanges and Online Wallets
The best cryptocurrency exchanges such as eToro, Binance, Coinbase, Huobi Global, FTX, and OKEx, and online wallets such as PayPal and Skrill perform thorough assessments before listing new coins for trading.
This does not mean that if a coin isn’t listed on these exchanges or wallets, it is not a legitimate coin. What we want you to know is that if a digital asset is listed on credible exchanges, it means that a given period was used to assess investor interest and the amount of liquidity that continues to be poured into that particular asset.
Since exchanges were created to make money, listing such coins becomes mutually beneficial for traders and owners of exchanges.
Editor’s Note: If you want to minimize risk and maximize profits, trade coins listed on the aforementioned exchanges and wallets.
Remember To Stay Safe
As an e-learning organization, it is our responsibility to educate you on all aspects of cryptocurrencies. The onus falls onto you to conduct independent research on all recommended financial instruments.
There are thousands of investors who felt they were going to break the bank with their cryptocurrency investments. Within months, they lost all their holdings to a bearish cycle or hackers comprising wallets of the exchange that held their coins.
If you want to risk your hard-earned money investing in cryptocurrencies, then there must be an effort on your path to enforce the security of all your cryptocurrency holdings.
eToro – The Best Platform To Buy Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Which Cryptocurrency Will Rise in 2023?
According to experts, Bitcoin (BTC), Ether (ETH), Cardano (ADA), Binance Coin (BNB), Shiba Inu Coin (SHIB), and Litecoin (LTC) are digital tokens that will soar towards the end of 2023.
What is the Best Cryptocurrency to Invest in 2023?
The best cryptocurrencies to invest in 2023 are relatively lower-priced digital coins that have huge potential. Digital currencies such as Cardano (ADA), Tronix (TRX), Shiba Inu (SHIB), Dogecoin (DOGE), Decentraland (MANA), Polygon (MATIC), Stellar (XLM), and EOSIO (EOS) are trading on the low side.
Which Crypto Has the Most Potential 2023?
Ethereum’s novel token Ether (ETH) has the best potential in 2023. Aside from serving as a transactional currency and settling payments on online merchants, Ether is involved in every activity on the Ethereum Network. Before you interact with decentralized applications in the lending, exchange, insurance, and yield aggregation categories, you need to go through Ether before you can swap for the novel tokens of the respective DAPPS. This is the primary reason why experts at Wallet Investor believe Ether (ETH) could command the best possible price close to $8,000.