What is the best cryptocurrency to buy this month? Looking for the top 15 Cryptocurrencies to buy in January 2023? We’ve got you covered!
The young cryptocurrency market changes very quickly. Weeks or even days later, the value of any cryptocurrency could dramatically change.
Good cryptocurrencies to buy in one month could plummet in value the next, and the opposite is also possible. A coin that everyone was hyping up can overnight become irrelevant and side-lined to the backs of our memories.
So, what’s the top cryptocurrency to buy for January 2023? We’ve compiled a list of 15 options for you to consider and explain why they’re the best you can get your hands on.
If you want to dive into the cryptocurrency market quickly and easily check out eToro Exchange!
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
You always need to be on the lookout for the next up-and-coming crypto at all times.
Top 15 Best Cryptocurrencies To Buy In January 2023:
- Bitcoin (BTC)
- Cardano (ADA)
- Ripple XRP (XRP)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Aave (AAVE)
- Uniswap (UNI)
- Polkadot (DOT)
- Yearn.Finance (YFI)
- Maker (MKR)
- Chainlink (LINK)
- Compound (COMP)
- Terra (LUNA)
- Avalanche (AVAX)
- Binance Coin (BNB)
With more than 12,000 cryptocurrencies (according to CoinMarketCap), choosing the best cryptocurrencies to buy in is not an easy thing to do. But fear not, we at Trading Education put a list of the best cryptocurrencies to buy this month.
Every month we’ll give you an update on the best cryptocurrencies to buy. So, make sure you bookmark this page! You’ll always find the top cryptocurrencies to buy right here!
And remember! Though these might be the top digital coins to consider buying for January 2023, cryptocurrencies are still highly volatile assets and are not suitable for all investors! So, make sure you understand the risks involved!
Contents
In this article, we will also cover:
- Best Cryptocurrencies To Buy In January 2023
- Other Cryptos On Our Radar For January 2023
- Conclusion: Which Cryptocurrencies Should I Buy For January 2023?
- Should I Be Worried About The SEC?
- Is It A Good Idea To Invest In Stablecoins?
- Key points
- eToro – The Best Cryptocurrency Platform
- Top 15 Best Cryptocurrencies to Buy - Infographic
- Top Best Cryptocurrencies To Buy In January — FAQs
Best Cryptocurrencies To Buy In January 2023:
1. Bitcoin (BTC)
Bitcoin (BTC) without a doubt should almost always be on top of any list of cryptocurrencies to buy. Quite simply, BTC is a must-have crypto.
We all know it is not the best technologically, but in terms of risk-reward, it is the safest and most likely to make traders a profit because of how popular it has become.
To give you an idea of how much safer it is to invest in Bitcoin over any other crypto, billionaire Mark Cuban revealed that 60% of his crypto holdings are Bitcoin.
And with up to 100 million Bitcoin holders around the world, it’s not surprising it’s considered safer and wiser. This is largely because Bitcoin gets more news coverage, and it is the most recognisable crypto.
Indeed, a survey by the FCA revealed that in 2020, 78% of people in the UK knew about Bitcoin. In 2021, that number increased to 82%.
That said, Bitcoin did have a sharp drop in 2021 after reaching a high of $63,000 in April, but then it recovered to hit its all-time high of $68k in November 2021.
Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets, sees Bitcoin hitting $500,000 by the end of the decade and eventually reaching $1 million per coin.
While many feel like Bitcoin is a definite buy, you have to remember that there is always a possibility that the price could crash again. So, be prepared for that possibility!
How much could Bitcoin be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $16,225 | $46,180 |
| Price Prediction | $24,432 | $30,075 |
| Trading Beasts | $10,920 | $19,512 |
| The Economy Agency Forecast | $9,147 | $20,496 |
| Coin Price Forecast | $19,230 | $21,770 |
Read our article on Bitcoin Price Predictions here.
Have you considered buying Bitcoin (BTC)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Cardano (ADA)
In 2021 Cardano sneakily stepped into the third spot cryptocurrency by market capitalisation after a lot of hype from crypto enthusiasts. Some will say that it’s finally time they were recognised.
Compared to other coins, ADA has shown some of the strong growth we have seen, breaking first past the $1 barrier for the first time since 2017, then right past $2 and briefly passing $3 in September 2021.
Cardano stands out for its ouroboros blockchain. In short, Cardano technically has two blockchains, one to handle basic transactions and another to handle smart contracts.
What this ingenious idea does is to prevent overburdening the Cardano network with too many transactions, which theoretically should make it faster and prevent scalability issues.
But the best reason to buy Cardano is its smart contracts. That’s right, at long last Cardano has implemented those all-important smart contracts that will enable much of the functionality it has been boasting about for years.
Initially, many traders assumed that after smart contracts were made live, the price would skyrocket, which didn’t happen. What will likely happen instead is the price could rise if a large institution decides to use Cardano’s smart contracts to build something — remember, adoption is the key to success in crypto investing.
How much could Cardano be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $0.2716 | $0.4411 |
| Price Prediction | $0.47 | $0.55 |
| Trading Beasts | $0.3566 | $0.6018 |
| The Economy Agency Forecast | $0.16 | $0.49 |
| Coin Price Forecast | $0.43 | $0.46 |
Read our article on Cardano Price Predictions here.
How much do you think Cardano (ADA) is worth?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Ripple XRP (XRP)
On the 24th December 2020, the SEC (the US Securities and Exchange Commission) took Ripple to court because they believe that XRP is actually a security, not a cryptocurrency, therefore making all the money they had raised so far from retail traders illegal (as it was not registered).
XRP haemorrhaged value while most of the crypto market was booming, but now it looks like XRP is back in action.
While on the outside the situation looked pretty worrying (many exchanges temporarily stopped offering XRP in the US), many believe that the SEC has overstepped and pretty badly at that as there is tonnes of evidence in Ripple’s favour. (More about crypto regulation at the end of this article!)
So, in the end, it is quite likely that Ripple will win the case, which will likely improve prices. Of course, though, no one can guarantee this.
For those that don’t know much about Ripple, it is a lot more than just a cryptocurrency, it is an exchange that enables you to transfer all kinds of funds faster and across borders much faster than traditional banks and institutions.
What makes it so unique is that you could send a payment in, for example, British pounds to someone, which Ripple would convert into XRP, and when it reaches the recipient, it could be in their currency, let’s say the euro.
How much could Ripple XRP be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $0.2394 | $0.5085 |
| Price Prediction | $0.48 | $0.59 |
| Trading Beasts | $0.4070 | $0.6481 |
| The Economy Agency Forecast | $0.15 | $0.41 |
| Coin Price Forecast | $0.40 | $0.42 |
Read our article on Ripple XRP Price Prediction here.
Have you considered buying Ripple XRP (XRP)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Ethereum (ETH)
Ethereum is without a doubt one of the top cryptocurrencies for January 2023, and like Bitcoin, is a must-have crypto investment. Remember we said 60% of Mark Cuban’s crypto holdings are BTC? Well, another 30% is allocated to ETH.
Ethereum has seen some of the strongest gains, and it’s highly likely that Ethereum hasn’t reached its full potential yet. Indeed, Ethereum might even be hugely undervalued, especially when you look at what’s in store for 2023.
First off, Ethereum is still the king of smart contracts, decentralised applications and ERC-20 tokens, which many other popular cryptocurrencies are made of (they are hosted on the Ethereum blockchain). This makes Ethereum one of the best cryptocurrencies to buy by far.
This leads us on to the DeFi boom. DeFi stands for ‘Decentralised Finance’, and it is a way to connect traders directly without the use of a third party, such as a broker. The Ethereum network is where most DeFi applications are built.
All this activity taking place on the Ethereum network shows how useful it is to the wider cryptocurrency community, and as DeFi grows, it will certainly have a knock-on effect on Ethereum.
Then secondly, and perhaps more importantly, is Ethereum 2.0, the long-awaited move to proof-of-stake. Now, it should be mentioned that this will take place over several stages.
Last but not least, let’s not forget that many crypto traders start by investing in Bitcoin and once they feel comfortable, Ethereum is usually what they buy next.
And what this probably means is that when there is a lot of interest around BTC and new traders start pouring in, the next cryptocurrency they are most likely going to devour Ethereum.
How much could Ethereum be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $1,254 | $1,978 |
| Price Prediction | $1,770 | $2,253 |
| Trading Beasts | $1,124 | $2,438 |
| The Economy Agency Forecast | $750 | $1,759 |
| Coin Price Forecast | $1,557 | $1,604 |
Read our article on Ethereum Price Predictions here.
Ready to invest in Ethereum (ETH)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
5. Dogecoin (DOGE)
Dogecoin took off in 2021 when a group of crypto Redditors decided to make it their mission to pump up the price of DOGE in a similar way to how WallStreetBets pumped up GameStop stock.
But it’s not just Redditors who have been bullish on Dogecoin. Snoop Dogg (or Snoop Doge?) and Kiss bassist and vocalist Gene Simmons are also riding this hype train.
However, we all know that Musk is the real one pulling the strings. Recently, it has been revealed that Musk has been working with DOGE developers since as early as 2019. Though he primarily provided advice and connections, he also offered to help fund them, which they refused.
Dogecoin is perhaps one of the riskier investments on this list. There is always the possibility that Musk and Redditors will get tired of Dogecoin.
Further to that, traders should ask themselves — especially after Musk dumped BTC — can he be trusted? Is it possible that he just wants to manipulate the price for his gain or just because he can?
But in all seriousness, Dogecoin is an important coin. Though it started as a joke, it was supposed to lighten up the often serious tone usually used when discussing cryptocurrencies.
At the time of Doge’s creation, people were still talking about Silk Road, murder for hire, Mt Gox and money laundering whenever Bitcoin was mentioned. Dogecoin showed people that it was only a small piece of the picture.
With this approach, they managed to reach a far wider demographic than Bitcoin ever could — a new generation, less interested in cryptography, anonymity and taking down the current financial system. Dogecoin did a lot for cryptocurrency adoption.
How much could Dogecoin be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $0.0656 | $0.1385 |
| Price Prediction | $0.11 | $0.13 |
| Trading Beasts | $0.0859 | $0.1671 |
| The Economy Agency Forecast | $0.039 | $0.094 |
| Coin Price Forecast | $0.0856 | $0.1241 |
Read more about Dogecoin Price Predictions here.
How much Dogecoin (DOGE) would you buy?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
6. Aave (AAVE)
Aave (AAVE) is a DeFi coin that allows people to lend and borrow crypto from each other with ease.
With no wealth or credit score ratings involved, it gives control to both the borrower and lender in a way typical loans companies would never offer. With Aave, there is just the lender and the borrower — no middleman taking a slice of the pie.
Aave has become a hugely popular way to make some money from your crypto holdings while you hold it, instead of just leaving it to wait idly.
One of the coolest features of Aave (which means ‘ghost’ in Finnish) is its ‘flash loans’ option, which are quick loans that need to be repaid in the same transaction, saving time and money on fees.
On top of that lenders can choose what kind of interest they want to apply to the loan too, giving them even more control. And, to avoid volatility users can also move the asset they borrowed to a stablecoin.
Aave also recently went through an update and is increasingly allowing users to take part in governance, which is an excellent way to keep the platform decentralised.
How much could Aave be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $46.24 | $71.20 |
| Price Prediction | $88.75 | $103.67 |
| Trading Beasts | $39.432 | $71.116 |
| The Economy Agency Forecast | $28.1 | $79.1 |
| Coin Price Forecast | $72.03 | $82.99 |
Read more about Aave Price Predictions here.
Would you invest in Aave (AAVE)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
7. Uniswap (UNI)
Uniswap (UNI) is an example of what many believe will be the future of finance and trading. Uniswap is a ‘decentralised exchange’ (or DEX) that works on the Ethereum blockchain.
Like anything decentralised, Uniswap isn’t owned or controlled by one single authority and uses a two-layered blockchain to handle transactions as well.
On Uniswap, you can list tokens for free and users don’t have to hand over their crypto to the platform to trade it, allowing them to remain in control.
Since its launch in 2018, Uniswap is now one of the largest DeFi coins and one of the largest exchanges. In 2020, $58 billion in trading went through the platform. In 2021 Uniswap became the first decentralized trading platform to process over $100 billion in cumulative volume.
How much could Uniswap be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $4.86 | $8.24 |
| Price Prediction | $7.61 | $9.55 |
| Trading Beasts | $3.95 | $7.00 |
| The Economy Agency Forecast | $3.51 | $7.92 |
| Coin Price Forecast | $6.64 | $7.35 |
Read our article on Uniswap Price Predictions here.
Do you think Uniswap (UNI) is a wise investment?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
8. Polkadot (DOT)
Polkadot (DOT) is one of the most exciting projects to emerge from the crypto market in the last few years. Similar to Ethereum, it offers a new way to build an entire ecosystem of projects.
As a multichain project, it bridges the gap between blockchains, allowing them to communicate. Devs can also build customisable parachains off Polkadot’s ‘Relay Chain’ (the central chain that ties all other chains together).
It also offers some very cool features such as ‘forkless on-chain upgrades’ which allow Polkadot to upgrade without the risk of splitting the chain into two. This allows them to avoid situations like Bitcoin and Bitcoin Cash and Ethereum and Ethereum Classic.
Many traders are bullish on Polkadot purely because of Dr Gavin Wood, DOT’s founder, who previously co-founded Ethereum and is credited as inventing the coding language Solidity, which is used to power Ethereum smart contracts.
For the time being updates are slow and DOT has slipped a few places in market cap but that is nothing to worry about. Just like many other crypto projects, time is needed to deliver something of real value — don’t expect a tonne of new features every week or month.
Right now, DOT is ideal to buy low and hold for the long term. The coin is still very young and barely a year old.
For some traders, this may be off-putting because there is less data on how well it might perform. But one thing is for certain, Polkadot is something the crypto market really needs, and its necessity gives DOT its value.
How much could Polkadot be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $4.58 | $9.18 |
| Price Prediction | $6.71 | $8.15 |
| Trading Beasts | $3.339 | $7.144 |
| The Economy Agency Forecast | $2.12 | $6.40 |
| Coin Price Forecast | $5.98 | $6.94 |
Is Polkadot (DOT) worth your investment?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
9. Yearn.Finance (YFI)
Yearn.Finance (YFI), or as it is sometimes styled ‘Yearn Finance’ or just ‘Yearn’, is “designed to generate yield on smart contract platforms like Ethereum”, as explained on their platform.
It has one of the most limited supplies in the crypto market, with a maximum of 36,666 YFI tokens, which is why its prices are astronomically high (close to $6k per coin, at the time of writing).
Yearn Finance has two primary products — ‘Earn’ and ‘Vaults’. Earn is a lending aggregator that shifts funds to different lending platforms to earn the most interest, while Vaults work similarly but deploy funds in a more complex, riskier way.
The YFI token is a governance token that allows holders to vote on changes on the Yearn.Finance platform.
Today, Yearn.Finance has a total value locked (TVL) of $383.6 million according to Defillama, at the peak of the crypto market in November the platform hit its all-time high of $4.94 billion.
Do note that Yearn.Finance is another DeFi protocol running on top of the Ethereum blockchain, and as you can guess, it is vulnerable to changes on the Ethereum network.
How much could Yearn.Finance be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $5,728 | $12,526 |
| Price Prediction | $8,017 | $9,716 |
| Trading Beasts | $3,419 | $5,728 |
| The Economy Agency Forecast | $2,275 | $7,251 |
| Coin Price Forecast | $8,422 | $8,797 |
Is Yearn.Finance (YFI) the investment you’ve been looking for?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
10. Maker (MKR)
Maker is very similar to Yearn.Finance in that both the YFI and MKR tokens are governance tokens for DeFi protocols, both projects work on top of the Ethereum network, and both have a very limited supply, which means the price of a token is very high.
The purpose of MKR is to vote on changes that could be implemented on the MakerDAO, an autonomous organisation for the Dai (DAI), which is also considered the world’s first decentralised stablecoin.
New MKR tokens can also be minted and sold if there are not enough assets to back the value of Dai.
Perhaps this all might not sound too interesting (indeed, this crypto is currently the 63rd-largest by market cap). But what’s got crypto investors’ attention is that Maker intends to dissolve its foundation as it gets close to becoming fully decentralised, as reported by Aaryamann Shrivastava of AMBCrypto in late August.
This is huge news as many of the top cryptos still have massive centralisation problems, and this act could make MKR the most decentralised crypto we’ve seen so far.
Elsewhere, MakerDAO has announced that it will integrate with the Gelato Network’s G-UNI Uniswap V3 token (a mouthful, we know!). What this means is that there will be greater integration between Dai and the greater crypto community, which could make the market more fluid.
How much could Maker be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $573 | $1,493 |
| Price Prediction | $927 | $1,070 |
| Trading Beasts | $381 | $707 |
| The Economy Agency Forecast | N/A | N/A |
| Coin Price Forecast | N/A | N/A |
Read more about Maker Price Predictions here.
Would you invest in Maker (MKR)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
11. Chainlink (LINK)
Chainlink (LINK) jumped leaps and bounds in 2020 and has continued to grow in 2021 and has at times been included in the top 10 by market capitalisation (typically included within the top 20).
Just like Polkadot, Chainlink offers something that the cryptocurrency community really needs - oracles.
In basic terms, oracles aggregate and communicate off-chain information to blockchains, and this information can then be used to activate smart contracts, allowing them to react to real-world events.
For example, imagine a smart contract set up to be activated if it starts to rain outside. This smart contract could only receive that information via an oracle as the smart contract is located in the blockchain, not in the physical world.
There are, of course, things we need to talk about with Chainlink. First of all, the idea can easily be taken and applied to other cryptocurrencies, which could destroy Chainlink’s value.
The second potential issue is fake news. Though Chainlink compares news with several other aggregators to ensure only the correct information activates smart contracts, it might not be enough to ensure that fake news doesn’t poison the network.
But Chainlink’s importance only continues to grow. According to George Anadiotis, Chainlink provides between 50-80% of all DeFi applications with oracle services. So, it’s quite likely that we’re going to see a lot more of Chainlink in the coming years.
How much could Chainlink be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $5.65 | $9.70 |
| Price Prediction | $9.34 | $10.86 |
| Trading Beasts | $4.32 | $7.67 |
| The Economy Agency Forecast | $3.68 | $7.51 |
| Coin Price Forecast | $7.26 | $7.32 |
Read more about Chainlink Price Predictions here.
Could Chainlink (LINK) be the millionaire-maker you’ve been looking for?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
12. Compound (COMP)
Compound (COMP) is also built on top of the Ethereum network and is another rising star on the DeFi scene.
It’s a crypto lending platform where crypto holders can lend out their crypto to prospective borrowers and earn interest in return. It is one of Aave’s biggest competitors and Andreessen Horowitz and Coinbase Ventures have both invested.
What makes Compound stand out from other lending protocols is that in return for providing your crypto, you get what is called a ‘cToken’ back. So, for example, if you deposit Bitcoin, you will receive a cBTC.
And whenever you want to redeem your crypto, all you have to do is swap your cBTC for it and you will receive your crypto back plus the interest you earned while it was deposited.
But while Compound has so much going for it right now, it, along with several other DeFi lending projects, may soon be under the watchful eye of regulators in the US, who are concerned that they are basically running an unregulated bank.
Most recently, Compound was mentioned in an article by The New York Times on the very topic of crypto moving into banking and the complete lack of any regulation in place to monitor it.
How much could Compound be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $25.52 | $51.93 |
| Price Prediction | $50.32 | $61.03 |
| Trading Beasts | $30.26 | $44.51 |
| The Economy Agency Forecast | $16.34 | $47.37 |
| Coin Price Forecast | $47.28 | $51.65 |
Read more about Compound Price Predictions here.
Do you agree that Compound (COMP) could be a great investment?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
13. Terra (LUNA)
Terra is probably a coin you have heard very little about, until now. It plans to create a network of stablecoins to create a more stable digital economy, something the crypto market lacks deeply at this point.
Today, Terra is the biggest dual-token platform. This means it is a platform with two primary tokens that work separately from each other on the same blockchain - LUNA and Terra USD (TUSD).
LUNA acts as the governance token of the Terra network allowing holders to vote on and make proposals to the platform. On top of that, LUNA is also used to stabilise the price of Terra’s stablecoins, if required, and holders can make passive income by staking their tokens (Terra uses a PoS protocol).
But that’s not all. Terra is also part of the DeFi scene with billions pledged to create new projects on its blockchain, such as the Mirror protocol, which will allow devs to create assets tied to the value of real ones, like stocks.
This impressive array of features has made Terra one of the hottest cryptos of late 2021. But what’s got us excited about SOL right now is the Columbus-5 upgrade, which is rumoured to greatly improve the network.
Of course, though, nothing is perfect with any crypto and some aren’t sold on the idea of a stablecoin ecosystem because it is too dependent on the current fiat system we already have.
Another concern is its relative youth. Having only been tradeable since late 2019, it is very young meaning there is little data on how it could perform, plus, it is likely not very decentralised at this point.
How much could Terra LUNA be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Price Prediction | $2.21 | $2.64 |
| Trading Beasts | $1.244 | $2.639 |
| The Economy Agency Forecast | $1.09 | $2.26 |
| Coin Price Forecast | $1.73 | $1.88 |
Read more about Terra Price Predictions here.
How much would you invest in Terra (LUNA)?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
14. Avalanche (AVAX)
Avalanche (AVAX) is one of the youngest cryptos on this list and claims to be the fastest smart contract platform in the industry (have you heard that before?). Today, it is the 16th-largest by market cap.
Some might easily brand it as another Ethereum pretender, but some significant differences make it worth investing in. For a start, it has a maximum supply of 720,000,000, while Ethereum remains unlimited and uses a proof-of-stake protocol.
According to their website Avalanche, dApps are compatible with Solidity, the programming language for Ethereum smart contracts. This has allowed Avalanche to siphon off many Ethereum projects in 2021, particularly during the beginning of 2021 when congestion led to high Ether fees.
And they also offer blockchain building services that come with their own virtual machine. Their ecosystem has become so large it now has its own section on CoinMarketCap.
The Avalanche Foundation also received a massive $230 million investment from a large group of investors, as reported by Bloomberg. The investment will be used to accelerate the growth of DeFi projects in its ecosystem.
It is important to question at this point if Avalanche will manage to hold onto the value it has acquired so far. With limited historical data, that remains a risk.
How much could Avalanche be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $10.55 | $20.26 |
| Price Prediction | $17.70 | $21.24 |
| Trading Beasts | $8.165 | $17.781 |
| The Economy Agency Forecast | $5.83 | $16.33 |
| Coin Price Forecast | $18.21 | $19.27 |
Read more about Avalanche Price Predictions here.
What do you think? Is Avalanche (AVAX) the great investment we think it is?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
15. Binance Coin (BNB)
Currently the third-largest crypto by market cap, BNB had a quietly exceptional 2021, and it’s not surprising at all when you look into all the different parts of the crypto market Binance has invested in.
First and foremost, Binance Coin gets much of its value by operating as a discount token at the Binance Exchange; traders can get a discount on trading fees when they use the token.
That’s all well and good, but what really made BNB stand out in 2021 is the Binance Smart Chain (BSC). A new chain launched by Binance in late 2020 for smart contracts which also uses BNB as fuel.
In February 2021, Binance Coin dramatically rose in value as many devs jumped ship from Ethereum because of historically high gas fees and moved to the BSC because its gas fees are less volatile. (Compatibility with Ethereum’s virtual machine was also a big reason to move to the BSC.)
Today, the BSC is the third-largest platform for DeFi projects, ahead of Bitcoin and second to Ethereum, and as the DeFi market continues to grow, BNB usage could grow too.
And finally, it’s worth mentioning that if there is another significant bull run in 2023, holding BNB could pay off massively as traders flock to the Binance Exchange — the largest crypto exchange in the world.
BNB is still a great buy, but with the tightening noose of regulation, Binance may get into a lot of trouble in the next few months and years. This is a significant risk that should be considered before investing in BNB.
How much could Binance Coin be worth in 2023?
| Price Forecaster | Lowest Price | Highest Price |
|---|---|---|
| Coinskid | $246 | $431 |
| Price Prediction | $393 | $477 |
| Trading Beasts | $216 | $328 |
| The Economy Agency Forecast | $208 | $382 |
| Coin Price Forecast | $283 | $295 |
Read our article on Binance Coin Price Predictions here.
Is Binance Coin (BNB) worth buying?
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Other Cryptos On Our Radar For January 2023
At Trading Education we love to look out for up-and-coming cryptocurrencies that most people probably haven’t spotted yet.
To stay safe, it’s usually best to keep away from unheard of cryptos until they show some promise to avoid scams or unfortunate situations (like when a crypto is too volatile or shows no real signs of being able to make a profit — a ‘zombie coin’).
But you should keep an eye on the following cryptos as they establish themselves. They might even be the best cryptocurrencies to buy on our next list in the months to come!
Or, if they fail to succeed, we’ll find out why and learn to avoid similar cryptos (as cheesy as it sounds, learning is always the most important thing!).
Solana (SOL) — A favourite for NFTs
Solana (SOL) stands out because of its innovative ‘proof-of-history’ consensus mechanism that works alongside a proof-of-stake protocol.
SOL ascended to the top 10 by market cap in 2021, largely because of the rise in popularity of non-fungible tokens (NFTs), which it is an industry leader.
Solana also supports DeFi projects and dApps and claims to be the fastest crypto ever created (yeah, like we haven’t heard that one before!).
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC) — Merger with Hermez is a big deal
Polygon (MATIC) is one of the most important cryptos in Ethereum’s network right now. It was specifically created to help Ethereum scale better.
Investors got super excited this year when Polygon announced that it would ‘acquire’ the Hermez Network for $250 million and that the two cryptos would merge, which would significantly improve transaction speeds.
While that sounds pretty exciting, traders should consider that Polygon’s future is largely tied to that of Ethereum’s, and with Ethereum’s upcoming transition to proof-of-stake, we can’t help but wonder how exactly Polygon will continue to be useful.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Enjin Coin (ENJ) — What gamers have been waiting for
Enjin Coin (ENJ) was created to operate the Enjin Network which has been around for more than 10 years now and is providing gamers with something they have wanted for a long time.
Built on top of the Ethereum network, Enjin Coin works on a dozen different games allowing gamers to buy and sell in-game items which can then be traded in different games and bought or sold in marketplaces.
Enjin Coin has likely been doing particularly well because the in-game items use NFT technology, which is very popular right now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Basic Attention Token (BAT) — Revolutionising digital advertising
Basic Attention Token (BAT) is a clever coin designed to decentralise digital advertising, ensure content creators get paid fairly for their work, and pay consumers for their time.
It also is designed to provide advertisers with more informed data about how effective marketing campaigns are and has a strong focus on protecting users’ privacy.
For the time being, BAT works solely on the Brave browser which is gradually growing in popularity.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: Which Cryptocurrencies Should I Buy For January 2023?
January 2023 looks like another great month to make some smart investments in cryptocurrency, whether that means going deeper on some already strong cryptos or getting involved in some new ones.
For a variety of different reasons, we might see some cryptos reaching new heights - some lesser-known cryptos are moving into the limelight, and some older names quietly exiting out the backdoor.
What we are seeing is the two biggest coins, Bitcoin and Ethereum both look like they might have one more price boom before the end of the year.
Money is pouring into Bitcoin which will likely feed into altcoins and Ethereum is best positioned to benefit from that influx.
Similarly, Binance Coin looks like it might also benefit from this trickle-down investment as many traders swoop over to the Binance Exchange and use BNB for its discount. But at the same time, regulatory issues are making some investors wary of BNB.
One thing is for certain though, interest in DeFi is changing the current market and lesser-known names, such as Maker, Compound, Terra, and Aave are getting a lot of attention.
Of course, we will have to wait and see if coins bring any real value to investors, but there is a strong feeling that they will continue to lead the way for years to come.
Elsewhere, Cardano and Ethereum have big updates coming and XRP is doing pretty well despite the SEC investigation.
So, what we might be looking at in January 2023 is a wealth of coins that should be worth a lot more than they are, and it is only a matter of time before people realise and they start to skyrocket.
Bearing in mind though, not every coin on our list of best cryptocurrencies to buy right now will shoot off! Who knows what will happen in the following weeks and months?
And, of course, remember to keep your eyes on the growing DeFi community as well!
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Should I Be Worried About The SEC?
You probably don’t need to worry too much about the SEC. Of course, it would be understandable to be a little worried if you have invested in XRP, but the case against Ripple appears to be quite weak.
The real concern is that the SEC and other regulators from around the world might continue to throw regulatory issues at organisations building cryptocurrencies, which will stunt their development.
Essentially what such regulators are trying to do is make cryptocurrency fit into their idea of what they should be (e.g., the SEC stating XRP is a security), instead of acknowledging that cryptocurrency is an entirely new market.
But perhaps this will just remain an annoyance. In the end, the power of the SEC didn’t change anything with Ripple. Aside from creating a buying opportunity (little more than a minor dent if you look at the charts), they displayed how far they are from understanding cryptocurrency.
This lack of understanding is unfortunately still deeply embedded in how many top political figures think, and it’s giving many in the crypto community a migraine.
The US Secretary of Treasury, Janet Yellen, embodies this issue, believing Bitcoin to be ‘inefficient’, citing the amount of power needed to run the network (and not expanding further on the topic).
She also ‘fears’ that Bitcoin is primarily used for ‘illicit finance’, a phrase so overused it makes your eyes roll. As many crypto enthusiasts will tell you, there are far more illegal payments happening with physical cash than with Bitcoin.
Using BTC for illegal payments wouldn’t be very smart because it can be traced back to you, while physical cash cannot be traced in the same way.
So, in 2021, we’re still dealing with people that do not understand what crypto is, and it appears that they have more or less the same mindset as politicians 10 years before.
As strange as this sounds, this is exactly why we shouldn’t worry about them, because in the history books they will be the ones that look foolish.
That said, while cryptocurrencies may be largely safe, companies that work with them or provide crypto trading services may come under further scrutiny in the years to come, as we have seen with Binance. As one of the largest crypto exchanges, Binance’s removal from the market would be a tremendous loss.
Furthermore, the rise of DeFi is a huge threat to traditional finance and raises many questions about unregulated asset creation.
Is It A Good Idea To Invest In Stablecoins?
Stablecoins are cryptocurrencies that are designed not to be volatile. Typically, they are tied to the value of something else that is considerably less volatile.
Many traders use stablecoins, particularly those that are tied to the US dollar like Tether (USDT) and USD Coin (USDC), to store value in something more stable when they stop trading.
For example, a crypto trader might day trade Bitcoin and when they’re finished for the day, use a crypto exchange to put their gains into a stablecoin just in case the value of Bitcoin tanks during the night when they’re not looking.
Or, when the market looks like it’s about to crash investors may sell off their crypto and put the value into stablecoins before the situation further deteriorates.
When it comes to investing in stablecoins, it will likely not give you any real profits because they are designed to be ‘stable’. There aren’t many dips to buy and not many highs to sell. You might as well just trade forex.
The most well-known stablecoin is Tether, which is tied to the US dollar. It has been pretty successful and for a long time was the third-largest cryptocurrency by market cap on CoinMarketCap.
Despite this success, it is recommended that you use caution when trading Tether. This is because of the scandals that have broken out relating to it and the Bitfinex cryptocurrency exchange (who both have the same parent company).
Long story short, Tether and Bitfinex have been hit with several lawsuits that accuse them of attempting to manipulate the price of Bitcoin.
It is believed to have all started when the Bitfinex exchange got hacked and then borrowed the money from Tether (approximately $900 million), which is supposed to back every USDT with one USD.
By lending their USD, they were no longer solvent which could have crashed Tether and lost a lot of traders millions.
The scandals are so big that some believe that Tether may even have had something to do with the spike in Bitcoin’s price in 2017, as it is believed that Tether was used to artificially pump the price of Bitcoin in an attempt to recover losses.
If you want to use a stablecoin, Dai (DAI) is probably the best, showing the least volatility. And if you use a CFD broker instead of a cryptocurrency exchange, you will not have to worry about this.
Key points
If you remember anything from What Are The Top 15 Best Cryptocurrencies To Buy In January? Make it these key points.
- Ethereum is perhaps one of the best cryptocurrencies right now. Experts have suggested that it may reach highs of $2,400 by the end of 2023.
- Bitcoin, Cardano and Ethereum take the top three spots. It’s going to take a lot to unseat these giants!
- DeFi coins Aave, Uniswap, Compound and Maker. They have become household names in the crypto market over 2021.
- Many of the top 15 best cryptocurrencies to buy for January 2023 are in the process of changing. New updates and features can greatly improve the value of a crypto… if they work!
- Solana, Polygon, Enjin Coin and Basic Attention Token are four cryptocurrencies to keep on your radar. Each has its unique features that might make them excellent investments in the future.
- Cryptocurrency regulation is not a major problem, yet. Though XRP and BNB may have trouble ahead, this may be minuscule in comparison to what may lay ahead for DeFi projects.
- Stablecoins are not likely to be a profitable investment. They are primarily used as a store of value when not trading.
- Bitcoin remains an investor’s must-have crypto. It might not be perfect, but it is the safest investment in the crypto market.
eToro – The Best Cryptocurrency Platform
Now you know the top 15 best Cryptocurrencies to buy for January 2023!
If you’re feeling inspired to start buying cryptocurrencies, you may be pleased to know that eToro provides the ability to buy crypto assets and CFDs on up to 90+ cryptocurrency pairs. Crypto traders can build a diversified portfolio with the most popular coins.
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.
How To Buy Cryptocurrency With eToro?
If you’re finally ready to invest in cryptocurrency this January, eToro is by far the easiest way to get started. All you have to do is follow these three steps to get started.
Step 1. Go to eToro’s website, click ‘Join Now’, and fill out the registration form. Note: You’ll need to upload some proof of ID and address — this is to prevent fraud and to comply with anti-money laundering laws.
Step 2. Next, you’ll need to make your first-time deposit, which depending on where you are located, the minimum will likely be either $50 or $200. However, do note that there are several countries where the first-time deposit is significantly higher, so check before you sign up!
Step 3. Now that your account has been set up, on eToro’s platform go to ‘Trade Markets’ → ‘Crypto’, choose the crypto you’d like to trade, choose your terms and you’re done.
And now you’re a crypto investor!
Top 15 Best Cryptocurrencies to Buy - Infographic
FAQs
Is Crypto A Good Investment?
Crypto is one of the best investments around right now with some of the top cryptos outperforming some of the top stocks around the world in 2021. One of the top reasons why crypto is a good investment is that there are no entry barriers to trading crypto, which means anyone can trade it. There are plenty of investment vehicles out there that do not let regular people invest because they don’t own a certain amount of money.
The crypto market is expected to grow immensely in the coming years, which likely means the size of the market now is minuscule to what it may become later. So, getting involved early could be a great opportunity.
Investing in crypto is also a great idea for both short- and long-term traders. It’s volatile enough for short term traders to benefit from the ups and downs, and in general, crypto has been trending up in value, which makes it great for long term investors. If you’re ever not sure if investing in crypto is for you, it always helps to go back to the general idea behind it.
What New Crypto Coins Are Coming Out In 2023?
According to CoinMarketCap, there are at least 12,130 cryptocurrencies. However, some sources, such as Statistica, disagree claiming there are a maximum of 5,840 cryptos, an increase of 3,023 since 2019. Many new coins have been created to help facilitate transactions with cryptos that work on different platforms. For example, Wrapped Bitcoin represents Bitcoin on the Ethereum network. You can also see a list of upcoming ICOs on CoinMarketCap to get ahead of new cryptos.
Read More: 15 Cryptocurrencies To Invest In 2022 That Are Both Cheap And Profitable
What Is The Most Promising Cryptocurrency For 2023?
Cardano and Ethereum have received a significant amount of attention in 2021 because of major changes coming, aside from Bitcoin. These two are the most promising because it is expected that major upgrades will increase their price. Ethereum is expected to complete its transition to proof-of-stake in 2023 and Cardano finally has smart contracts, as of September 2021. But aside from these two, many crypto investors are excited about the growth of DeFi, and it appears that investors are losing interest in proof-of-work cryptos and are instead focusing their efforts on proof-of-stake, which is seen as more efficient.
What Is The Cheapest Cryptocurrency To Buy Right Now?
Dogecoin and Shiba Inu (SHIB) are perhaps the cheapest best-known cryptocurrencies to invest in right now. However, the cheapest cryptos do not necessarily make the best investments. For example, Shiba Inu, which was created to be a ‘Dogecoin killer’, has exhibited some extreme price movements. Particularly after the creator sent over half the supply to Vitalik Buterin, the creator of Ethereum, who then burned 90% of it (roughly $6.7 billion worth) and donated the remaining 10% to charity. Other cheap cryptocurrencies include: eCash (XEC) — formerly known as Bitcoin Cash ABC. BitTorrent (BTT) Holo (HOT) Telcoin (TEL) Revain (REV) Amp (AMP)
What Is The Most Useful Cryptocurrency?
Transactional cryptocurrencies (like BCH and LTC) could be said to be the most useful, but cryptos that support smart contracts (like ETH) have a wide range of applications. Perhaps the crypto with the most use cases right now is Binance Coin.