5 Best Cryptocurrencies To Buy And Begin 2023 Effectively

Last Updated September 8th 2022
5 Min Read

The crypto market is down from the dizzying heights of the last bear run. Still, over the long term, many cryptocurrencies have proven to be sound investments, delivering good returns for those who managed to hodl on and sell during price upswings. The current market prices may not be great for sellers, but for buyers, it is an opportunity to snap up some promising tokens at bargain prices. 

So, assuming that market cycles will once more lift cryptocurrency up in the future, here are the 5 best cryptocurrencies to buy and begin 2023 effectively.

 

Ripple 

The first digital asset on our list is Ripple (XRP). The platform provides real-time payments with extremely fast transactions. XRP is the native cryptocurrency used on the Ripple network to facilitate money transfers between various currencies. The Ripple platform is considered to be the most efficient settlement option for financial institutions for interbank flows.

As a result, Ripple remains popular among both institutional and retail investors. It is, in fact, hailed as the new alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network. Therefore, Ripple threatens to disrupt the international wire transfer business.

Despite the tailwinds for the platform, the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) has restrained the crypto’s price throughout the past year. 

Nevertheless, there are still many bullish investors who view Ripple as the future of international money wiring. They suggest that XRP could easily reach its all-time high of over $3.84 in 2023 if Ripple wins the SEC lawsuit.

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

Polygon 

Next up on our list of the 5 best cryptocurrencies to buy and begin 2023 effectively is Polygon. Polygon (MATIC). It helps scale Ethereum by providing a side chain that connects to the Ethereum network.

As a Layer 2 scaling solution, the network connects various blockchain projects that aren’t necessarily interoperable on Ethereum. It also allows for faster and cheaper transactions.

MATIC is the token that powers this layer-2 platform. Polygon uses its own Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network. The aim is to resolve inefficiencies that may hinder the more widespread adoption of blockchain technology.

Popular decentralized finance (DeFi) projects like SushiSwap (SUSHI-USD), Curve (CRV-USD), and Aave (AAVE-USD) utilize Polygon. In addition, the network recently added a Polygon Zero feature. It uses zero-knowledge roll-up technology to port data across networks. Many also hail its low energy usage.

MATIC-USD has surged nearly 350% over the past year. Yet, it has dropped roughly over 35% year-to-date (YTD). Despite the decline, the altcoin ranks among the top cryptos. Experts expect the number of apps relying on the Polygon network to increase exponentially soon.

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

Cardano 

Cardano is the first peer-reviewed decentralized blockchain protocol that employs a research-based scientific approach. The aim was to create a blockchain platform to process more transactions at a lower cost. The team also ensured that users’ data was highly secured by combining distributed ledger technology and smart contract infrastructure.

There are several reasons why ADA is one of the 5 best cryptocurrencies to buy and begin 2023 effectively. To start with, there is a Metaverse project and a DEX built on top of the Cardano blockchain. BashoSwap is a decentralized exchange built on the Cardano network. The DEX was created to facilitate swaps between ADA and other crypto assets built on the same network. The Cardano-powered Metaverse, ‘Pavia,’ has also announced details about its upcoming updates, driving ADA’s popularity in the market.   

Secondly, Cardano has garnered the interest of several high-profile celebrities like Snoop Dogg, who uses it for his NFTs. Finally, the upcoming Vasil upgrade will enhance the network’s scaling capabilities, boosting the network’s adoption. This is why we recommend buying ADA before 2023 to earn massive returns.

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

Solana 

Thanks to SOL’s consistent rally, the Solana blockchain has proven to be one of the top cryptos to buy to get rich. A few years after its inception, Solana has taken the entire DeFi space by storm. After a major setback due to the recent market crash, SOL has again started garnering investors’ attention.

Major crypto exchanges like Coinbase Global have started trading for a few Solana-based tokens. Another reason to buy SOL now is the recent collaboration with Krafton, the developer behind the widely popular PUBG Series, to create blockchain and NFT games.

Solana matches up well with Ethereum in two critical areas for development — speed and low transaction costs. Ethereum’s structure limits transactions per second to 15-30 on its network, creating the bottleneck that results in high gas fees. It has attracted many crypto investors due to its revolutionary qualities.

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

Uniswap 

Uniswap is the last crypto on our list of the 5 best cryptocurrencies to buy and begin 2023 effectively. Uniswap is one of the best crypto exchanges in the digital space. This crypto exchange is completely decentralized, which means the involvement of third parties is eliminated. The core of this crypto exchange is a trading model called the automated liquidity protocol. 

This platform was first introduced in the market in 2018. This cryptocurrency exchange is built on the Ethereum blockchain. Thus, it uses the effectiveness of the ERC-20 token standard. Uniswap uses the Ethereum blockchain network primarily to facilitate crypto transactions between different types of digital coins. These exchanges take place on the Uniswap exchange through UNI tokens.

The exchange was created by Hayden Adams just four years ago, and already, in terms of daily trading volume, Uniswap is among the top five cryptocurrency exchanges in the world. BraveNewCoin estimates that by 2026 Uniswap may increase to $30 and even $40, representing a potential upside of 500% to 700%.

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

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