7 Best Altcoins To Trade In 2023 (In-Depth Review)

Last Updated December 28th 2022
18 Min Read

What are the top 7 altcoins to trade in 2023?

With the crypto market gaining momentum again, and some coins making new all-time highs, it’s easy to wonder, what are the best altcoin plays for 2023?

Choosing the best altcoin to trade for 2023 can be even more complicated if you are just getting started in the crypto market. To help you navigate through this tough market, Trading Education has picked for you the top seven altcoins to trade in 2023.

Ready to get started on your journey to profitable trading?

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Best Altcoins To Trade In 2023:

  1. Kusama (KSM)
  2. Polkadot (DOT)
  3. Cosmos (ATOM)
  4. Tezos (XTZ)
  5. Fantom (FTM)
  6. Dogecoin (DOGE)
  7. Shiba Inu (SHIB)


Why Invest In Altcoins In 2023?

Bitcoin recently crossed the $64k mark and made a new all-time high of $67k. Many altcoins are gaining upside momentum too.

These are signals that the Bull Run is about to start. However, as a cryptocurrency trader, you may be a little confused about where to invest for maximum returns if the market goes parabolic in 2023. Such confusion and fear of loss are legit given how volatile the cryptocurrency market is.

The good news is that you don’t have to worry any longer. At Trading Education, we have compiled a list of our top seven picks for 2023.

However, before we dive into the list, it’s important to remind you that cryptocurrencies are a highly volatile asset class. But, for those willing to take the risk, it is an asset class that allows learning new skills and building a more diverse investment portfolio.

Besides, cryptos are based on blockchain technology, a technology set to change the world in everything from money to global supply chains.

Top 7 Altcoins To Consider Trading In 2023

In a market with over 9000 altcoins and rising, it’s only natural to wonder which are the best altcoins to trade in 2023.

If you are just getting into crypto, an altcoin is simply any other crypto outside of Bitcoin. From Ethereum to the smallest token out there, they are all altcoins.

While Bitcoin is the top crypto, it’s altcoins that have been giving the big returns lately. That’s why a lot more traders are focusing more on them.

To help you choose an altcoin in 2023, here are the top seven altcoins to trade in 2023.

1. Kusama (KSM)

Kusama may not draw as much attention as the hype coins, but it is definitely a digital currency to trade in 2023.

That’s because it is easily one of the most fundamentally strong projects in the market today. Considering that fundamentals are now important for most crypto investors, KSM is crypto worth keeping an eye on.

Kusama is designed to be a platform blockchain for developers to build on a secure and highly scalable blockchain. The project was launched by Gavin Wood, the founder of Polkadot and one of the founders of Ethereum.

One of Kusama’s core strengths is that it is very affordable to developers. This has made Kusama very attractive to startups.

Developers building on Kusama also benefits from some of the latest features in the Dapps space that may not be available on Polkadot, Ethereum, or any other blockchains. That’s because, at its core, Kusama is made for experimentation.

In terms of security, Kusama leverages the security infrastructure of Polkadot. Transactions are also completely confidential as details of transactions are not available on the public blockchain.

By virtue of how attractive this project is to Dapps developers, its usage is guaranteed to grow over time. This makes it a pretty good investment going into 2023 and beyond.

The project has already proven itself to be quite a worthwhile investment since it was launched. Kusama launched in 2019, and at the time, was trading at $1.7. At its peak in April this year, it was trading at close to $600.

While it has been in a corrective wave since then, pretty much like the rest of the market, Kusama is now regaining bullish momentum. Since hitting a low of $163 back in July, Kusama has made significant gains and is currently trading at $165.

That’s an indicator that if the market remains bullish going into 2023, Kusama could retest and surpass its all-time highs. Already analysts are giving it some impressive forecasts for 2023.

According to Coin Price Forecast, Kusama could hit $806 by the end of 2023. That’s an impressive 388% return from its current price. 

With Bitcoin pretty much set to test $100k by 2023, Kusama could easily hit and surpass these forecasts. It is without a doubt one of the best altcoins to trade in 2023. 

trade Kusama

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Polkadot (DOT)

Polkadot is one of the most successful projects in crypto. When it launched back in 2020, DOT was trading at around $2.9. By April 2021, when the entire crypto market rallied, DOT was trading at $47.

Polkadot’s success so far has a lot to do with its functionality. One of Polkadot’s core strengths is its interoperability. Polkadot is interoperable with multiple blockchains, especially the Ethereum blockchain.

This means any type of data generated on this blockchain can be transferred across blockchains. By not limiting developers to one chain, Polkadot is fully aligned with the future of blockchain, and developers know it.

Polkadot has also grown in popularity for its scalability. Polkadot offers developers an unrivaled level of economic scaling capabilities. That’s because it allows for the use of common validators in securing multiple chains.

Polkadot is also quite popular because it is straightforward to use. Building on top of Polkadot is so easy that one can create a custom blockchain on Polkadot in less than 10-minutes. Just 10-minutes and you have a blockchain that is secure and can be run across chains.

It also happens to be one of the most decentralized projects out there. That’s because its governance structure is in such a way that everyone involved in the project has a say in how it is governed. For instance, decisions on any changes to the network are done on-chain, and if there is consensus, they are implemented autonomously.

Investors in this project have also been drawn by the fact that it cannot be forked. Bitcoin and Ethereum have been forked but still remain strong. However, for smaller projects, going through multiple forks can dilute value.

Polkadot avoids this problem by ensuring that any upgrades, or fixes, are done without the need to create another network. By being forkless, Polkadot has implemented lots of positive changes faster than most blockchains take years to implement.

With such strong fundamentals and the crypto market overall bullish at the moment, there is a good chance that Polkadot could perform well in 2023. For instance, if Bitcoin crosses the $100k mark by 2023, Polkadot can make new highs, much higher than its current prices.

Analysts are pretty bullish on the prospects of DOT in 2023 too. According to Coin Price Forecast, Polkadot could hit $33.99 by 2023. That would be a 63% increase from its current price.

trade Polkadot

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Cosmos (ATOM)

Anyone who bought Cosmos when it launched earlier this year has made good money. The project started trading at $6.4, and save for a minor dip between May and July; the overall trajectory has been up. At the moment, it is trading at $29.5 and gaining.

Cosmos fast rise has a lot to do with its strong fundamentals. One of its core strengths is interoperability. Through the use of IBC (Inter-Blockchain Communication) technology, Dapps built on Cosmos can move and exchange data across blockchains. This freedom has made Cosmos very popular with developers who do not want to be locked to a single blockchain.

Cosmos also has a lot of powerful features coming up that will serve to excite the market even further. One of them is the Cosmos marketplace. This will be a highly advanced decentralized exchange that will instantly allow cross-chain asset swaps at low fees.

Cosmos security is also quite attractive, and it’s only going to get better. That’s because the network is working on a security feature that will allow multiple chains to be secured by the Cosmos security infrastructure. This will have lots of positive ramifications for the Cosmos blockchain. That’s because it entails incentivizing people to stake more Cosmos by giving them more rewards. The result will be an increased demand for ATOM tokens over time.

Cosmos blockchain is also set to benefit from the fact that there is actually a growing demand for the services it provides. The Cosmos blockchain is highly optimized for DeFi, one of the fastest-growing aspects of the crypto market. This means going into 2023, and beyond, the demand for ATOM will grow.

Its use case in DeFi has picked up quite well since the project launched. This is due to the project’s technical capabilities, such as fast speeds and low transaction costs. The uptick in its adoption is also because of its incentives to developers. Cosmos offers grants to projects that want to build on it, and so far, the reception has been good.

Cosmos’s strong fundamentals have seen it draw some very optimistic projections from analysts. According to Coin Price Forecast, Cosmos could hit $31.63 by 2023. By any standards, such returns make Cosmos a pretty good trade going into 2023.

trade Cosmos

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. Tezos (XTZ)

Tezos has been quite a profitable trade for anyone who got in when it launched in 2017. At the time, the project was trading at $1.9, and today, it is trading at $3.51.

In recent times, Tezos has benefited immensely from the explosion in the popularity of NFTs. Several top organizations and sports personalities have already launched NFTs on the Tezos blockchain.

So what exactly is Tezos? Tezos is one of the most advanced platform blockchains out there, perfect for everything from DeFi to NFTs.

One thing that makes Tezos stand out is its smart contract security, a very important consideration for DeFi applications. Tezos security stems from the fact that it’s designed for code correctness thanks to its use of OCami and Michelson programming languages. No smart contract can run on Tezos if the code is buggy.

The implications are huge in that it makes Tezos perfect for the deployment of highly sensitive applications in DeFi and other high-security industries. This is evident in the adoption of Tezos for corporate Dapps, and the trend will only continue going into 2023.

On top of that, Tezos is by design highly decentralized. This is thanks to its governance structure which guarantees that all stakeholders have a voice in the project. Anyone who holds Tezos can take part in evaluating and the approval of projects. This approach adds to the project’s credibility because no single entity can make decisions on behalf of everyone else.

It is also noteworthy that Tezos does not have the energy issues that have now become a source of concern for Proof-of-Work projects such as Bitcoin. That’s because it runs on a Proof-of-Stake consensus. This also has the advantage of drawing investors that want to earn a passive income from crypto.

That’s because when one stakes Tezos, they are not only taking part in governance but also get to earn rewards for it. With the market now trending up again after the dip that started in May to July, investors looking to take advantage of both staking rewards and value appreciation will find Tezos very attractive. 

Due to this project’s strong fundamentals, analysts have very strong projections for it going into 2023. For instance, Coin Price Forecast believes that Tezos could trade at $5.08 by the end of 2023. That would be an increase of 46% from its current price.

That’s quite a significant ROI and makes Tezos not just a good investment in 2023 but for many years to come.

trade Tezos

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

5. Fantom (FTM)

For anyone who got into Fantom early, it was a brilliant decision. When the project launched in 2018, it was trading at $0.024. At its all-time highs a week ago, Factom was trading at $3.13. That’s an incredible return on investment in less than 5-years.

The best part is that going into 2023, the opportunity for Fantom’s growth is even bigger. That’s because, after its recent rally, a lot more people now know about it. This means it is now poised to draw in more investors and developers.

Fantom’s prospects going forward are also being driven by the fact that its fundamentals are rock solid. The project is a smart contracts platform with some of the most advanced capabilities in the industry.

One of Fantom’s core strengths is its scalability. The project can handle thousands of transactions instantaneously. This makes it a top platform for high-capacity Dapps, such as gaming Dapps.

Fantom is also highly secure. That’s because its validator nodes are located worldwide, are trustless, and there is no central leader. This makes it one of the most secure PoS blockchains out there.

This project has also positioned itself to be compatible with Ethereum. Unlike lots of other platform blockchains that position themselves as Ethereum killers, the Factom team knew from the start that Ethereum is most likely here to stay. That’s why Fantom is fully compatible with the Ethereum Virtual Machine. It is possible to run Ethereum Decentralized Applications on the Fantom blockchain.

This versatility and compatibility to Ethereum have seen the number of projects running on the Fantom blockchain explode quite exponentially. The Fantom blockchain currently has more than 80 Dapps running on it, and that number is rising by the day. The number of active daily users is also on an exponential growth trajectory.

Fantom’s growth prospects are also anchored on its ease of use. It uses development tools that are familiar to most people. For instance, anyone who is familiar with Solidity programming language and developer tools such as Truffle, and Remix can easily build on Fantom.

Going by its recent performance and strong fundamentals, analysts have high projections for this project. For instance, Price Prediction expects this crypto to hit a maximum of $1.95 by the end of 2023. 

For such a potentially high ROI, Fantom is a worthy trade going into 2023.

trade Fantom

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

6. Dogecoin (DOGE)

Dogecoin is one of the meme coins that surprised everyone in the 2020-21 bull rally that ended in May. It went from being a mere joke to giving an ROI of 12,000%. 

Going into 2023, there is a lot to love about Dogecoin. For starters, its fundamentals are getting better by the day. For instance, the developer team has returned since the 2020 rally and is actively working to improve Dogecoin.

For crypto that had been without a developer team for years, this is a huge boost, one that could play into its valuation soar as the Bull Run gains momentum. One of the things that the developer team is working on is scalability, a factor that could drive up Dogecoin’s adoption big time.

Speaking of adoption, Dogecoin’s adoption rates since its last rally has been phenomenal. Close to 20 major institutions now accept Dogecoin for payments, and the numbers are growing. Some worthy mentions are The Dallas Mavericks and a case where Dogecoin was used in a multi-million dollar real estate transaction. 

Then of course there is the mega news coming up in 2023. In Q1 of 2023, Elon Musk has a massive space event for Dogecoin. In a bid to figure out the application of cryptocurrencies in space commerce, SpaceX and Geometric Energy Corporation will be launching a Doge-funded mission to the moon.

The implications of this mission on Dogecoin will be astronomical. For starters, the hype that will build up just before the launch of this event will be huge. To get an idea of how big this can be, one needs to look at how high Dogecoin went in the last Bull Run.

In 202-/21, Dogecoin went up by 12000% purely on Elon Musk’s tweets. Most of those tweets were of no real consequence to Dogecoin fundamentally, but it still pumped. With something coming up that could open up new use cases for Dogecoin, the potential for even more astronomical gains is even higher.

Besides, if the Doge-1 mission turns out to be a success, then the levels of adoption could shoot up as well. This could set up Dogecoin for consistent gains all through 2023. 

The expectations for Dogecoin in 2023 are evident in the optimistic projections that analysts have for the project. According to Coin Price Forecast, Dogecoin could trade at around $0.20 by the end of 2023. That’s an over 49% potential return on investment. This makes it a good trade in the short to medium term.

trade dogecoin

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

7. Shiba Inu (SHIB)

Shiba Inu is mooning at the moment. In the past month, it has gained by 945%.  This may leave one wondering whether it’s a little too late to buy. SHIB is definitely one of the best altcoins to look at in 2023.

Well, while it is still a meme coin, and anything happens to it between now and 2023, there is good reason to believe that it can sustain momentum.

For starters, the broader market momentum is bullish. Since Bitcoin pushed through its all-time highs of $64k, most altcoins have been in the green. While Bitcoin has eased up in the last few days, its overall momentum is bullish, and if history is anything to go by, $100k by 2023 is a possibility.

If this happens, then Shiba Inu and all other altcoins will also gain upside momentum. Considering the hype that SHIB is building up at the moment, if Bitcoin rallies through the $100k mark, this altcoin could easily do another 1000% in gains.

Besides, there is a little more to Shiba Inu than the hype. For starters, unlike Dogecoin whose supply is ever going up, SHIB’s supply has been going down over time. Since the project launched, more than 50% of the total supply has already been taken out of circulation.

With the project’s token burn feature, the more people use SHIB; the more tokens are burned. Considering the huge amount of hype that Shiba Inu has been attracting lately, a lot more will have been burned by 2023. This is likely to push up the price going into 2023.

On top of that, Shiba Inu’s adoption is growing, a factor that points to the project’s growing intrinsic value. For context, Shiba Inu was a few days ago adopted as a payment method by a French restaurant. With all the hype that the project is attracting, more organizations are likely to adopt it for convenience and marketing.

With the future looking bright for SHIB, analysts are giving it some pretty ambitious projections for 2023. For instance, Coin Price Forecast expects Shiba Inu to trade at $0.00004185 by the end of 2023. That would be an ROI of 69%.

Considering how much it has rallied recently, that would be an impressive return on investment.

trade Shiba Inu

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Choose A Good Altcoin To Trade In 2023

The key factors you should consider when choosing an altcoin are liquidity, adoption levels, market capitalization, technical capabilities, and the community.  

However, you should always do your research and understand the risks involved. That’s because, in the crypto market, things can change in an instant.

You should also keep an eye on the price of Bitcoin. That’s because it is the primary determinant of the direction of cryptocurrencies. Everything else comes second.

Also, before you start trading, be sure to gain proper crypto trading education. You also need to develop the mental fortitude for this market. For instance, the ability to hold on to your investment in times of flash crashes is vital to long-term profitability.

In short, spend as much time as you can learning, re-learning, and mastering the market.

eToro – The Best Platform To Trade Altcoins

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Best Altcoins To Trade In 2023: Key Points

  • Crypto trading is a good way to make money going into 2023
  • While the market is saturated with cryptos, some are more fundamentally stronger than others.
  • Among the top altcoins to trade in 2023 are Kusama, Polkadot, Cosmos, Tezos, Fantom, Dogecoin, and Shiba Inu.
  • Other altcoins you should consider going into 2023 are Binance Coin, Ethereum, Chainlink, and Solana.
  • Do your own research before investing in any altcoin.
  • Always keep an eye on Bitcoin’s price action.

If you want to learn more about crypto trading and improve your odds of success, we at Trading Education are ready to guide you all through the way.


Are altcoins a good investment in 2023?

Cryptocurrencies carry a higher level of risk than other asset classes. Altcoins carry an even higher level of risk. However, they also offer a high potential for gains. All that is needed is proper research before investing.

Will altcoins blow up in 2023?

Bitcoin recently pushed through its all-time highs of $64k. While it has eased up since then, buying volumes are on the rise. This is an indicator that the next bull rally is in its early stages. If this continues into 2023, then altcoins could give a good ROI in 2023. That’s because they tend to outperform Bitcoin in bull markets.

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