The 3 Hottest Cryptos To Own For 2023 And Beyond - Our Picks
These are our top choices of the 3 hottest cryptos to own for 2023 and beyond. Find a detailed overview of each coin in the coming section.
Bitcoin - This crypto will always lead the bull market
Ethereum - The industry leader in smart contracts
Dogecoin - The hottest meme coin to buy now
A Closer Look At The 3 Hottest Cryptos To Own For 2023 And Beyond
The crypto crash of 2022, the massive FTX scandal, the looming fear of inflation, rising interest rates, and numerous other macroeconomic factors created a drastic storm of uncertainties and volatility in the crypto sphere. But with 2023 almost here, investors have already started researching for the best cryptos that have massive potential for success. Precisely, even with huge fluctuations and sudden volatility in price, investors still want to invest in cryptocurrencies to ensure multi-bagger returns. There has been growing interest in these 3 hottest cryptos, which are best to own for 2023 and beyond. Let’s see why.
Bitcoin (BTC)
The price of BTC has been on a downward trend since the beginning of 2022. But there is no doubt that the crypto still dominates the space in terms of market cap and popularity and isn’t going anywhere soon. Being the oldest and most valuable currency, BTC is the hottest crypto to own for 2023 and beyond.
The premier crypto still has the potential for stratospheric returns. From 2011 to 2022, Bitcoin has significantly outperformed an array of altcoins and asset classes, including major stocks, bonds, commodities, and real estate. Several investors consider it the gold standard of decentralization and security.
Yet another feature that makes BTC one of the best cryptos for the long term is the halving. The next halving is scheduled for March 2024, and the size of the reward would fall to 3.125 Bitcoin. This could be another major catalyst for the meteoric rise in BTC’s price, making it a good buy now.
The rapid increase in institutional adoption is another reason BTC is one of the 3 hottest cryptos to own for 2023. Recently in November, Fidelity Investments made headlines with its announcement that participants in the employer-sponsored 401(k) would receive an option to invest in Bitcoin. It is the largest retirement plan provider in the U.S. and has become the first to add Bitcoin as a 401(k) investment option. As we move into 2023, experts believe Bitcoin will hit a new all-time high of $100,000 with increased global adoption.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum is not merely used for peer-to-peer transactions but also serves as the perfect framework for developing smart contracts and distributed applications. It is also the blockchain of choice for the top NFTs, crypto-based games, and numerous other decentralized finance applications.
ETH has also been experiencing major price turbulence ever since the beginning of the year. The significant price drop did cause a ball of fear among investors. But then came the momentous transition from Proof-of-Work to the energy-efficient Proof-of-Stake consensus method. The Merge has significantly increased the transaction speed and scalability, along with dramatically reducing energy consumption by 99.9%. Investors were piling into ETH because of the bullish sentiment around the Merge.
Ethereum is already the leading blockchain for decentralized applications and will remain in that position in 2023 and beyond. It is one of the hottest cryptos to own, as it is all set for another upgrade, Shanghai, which would introduce Sharding to make the network even faster. The developers working on the Shanghai announced plans to enable staked ETH tokens by March 2023. With numerous network updates and developments in the pipeline, the Ethereum network is poised for massive adoption, making it one of the best buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Although developed as a memecoin, Dogecoin has developed into a decentralized payment network. The crypto attracted a faithful community of supporters who propelled the coin’s demand and value to the moon. The only thing DOGE lacked was utility, and today developers are working continuously to enhance that. This will garner widespread adoption, eventually leading to a price rise.
DOGE rose to new all-time highs in 2021, and the main catalyst was the ardent support and endorsement of celebrities like Elon Musk. Tesla started accepting Dogecoin as payment for items of merchandise and also for Musk’s recently released fragrance, Burnt Hair, which sold over 30,000 bottles in the week of release.
Even today, Musk is doing his part to drive the adoption of DOGE. Also, being the new owner of Twitter, he has hinted that Dogecoin would be used for payments on Twitter. Furthermore, crypto would play a more prominent role on the micro-blogging platform and use DOGE as the native payment method on the platform.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
2023 is shaping up to be an interesting year for the crypto sphere. These 3 hottest cryptos are the best to own for 2023 and beyond, as they are gearing up to be a stellar year for these cryptos. These cryptos would ride the wave of a bull market, making them a worthy addition to your investment portfolio.
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