Top 5 Best Cryptocurrencies To Invest In 2023 - Our Picks
Bitcoin - Overall the best crypto coins to invest in today
Ethereum - An attractive option for investors in 2023
Cardano - The competitor to Ethereum smart contracts
Ripple - Number one crypto of banks and financial institutions
Litecoin - One of the best long-term investments in 2023
A Closer Look At The Top 5 Best Cryptocurrencies To Invest In 2023
Bitcoin (BTC)
It probably doesn’t come as a surprise that we have Bitcoin topping our list of recommendations for the best crypto coins to invest in today. And there are good reasons for this. For starters, experts consider it the best crypto to invest in today because it has performed exemplary in the past, rallying by more than 100000% in the last decade.
Secondly, it has the backing of one of the most decentralized and useful blockchain technologies – whose adoption rate is bound to shoot through the roof over the next few years. Finally, they also believe it to be a valuable addition to any future-focused crypto portfolio because it is expected to post monumental price gains over the next few years.
By the turn of the decade, for example, BTC’s price is expected to have rallied by more than 5000% to reach $1 Million. And if this comes true, any Bitcoin investment you make today will grow by a similar margin. Lastly, we consider it worth buying because it is easily accessible and massively liquid – having been listed by virtually all crypto exchanges and trading platforms around.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum (ETH), the world’s second-biggest cryptocurrency, is rising in popularity as investors recognize its potential to become one of the top best cryptocurrencies to buy in 2023.
The Ethereum blockchain is secured via the Ethash proof-of-work algorithm and has transitioned to proof-of-stake in a process better known as “The Merge.” This transition reduced ETH issuance and is expected to minimize Ethereum’s annual energy consumption from 112 TWh/yr to only 0.01 TWh/yr resulting in a 99.9% drop. This green approach attracts investors to cryptocurrency and is anticipated to bring an influx of institutional money.
Ethereum (ETH) is continuing to grow with the introduction of EIP-1559 in August 2021. It replaces the first-price auction mechanism with a “base fee” that adjusts dynamically with transaction activity, reducing the gas fees. With higher activity on the network, more ETH is burned, reducing its total supply and potentially making it deflationary, leading to a higher appreciation of its price.
With its current massive trading volume, Ethereum is proving a strong contender for the best crypto to buy in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
The cryptocurrency world has been abuzz with news regarding Cardano (ADA) in 2023. The open-source blockchain platform’s recent launch of Alonzo hard fork delivered price surges, leading cryptocurrency to gain 116% in the following month. With the network aiming to ‘redistribute power from unaccountable structures to individuals’ and its growing list of successful use cases, investors have taken an interest in Cardano, leading to its impressive 30% rise since December 30.
ADA isn’t waiting for 2023 to ramp up its network activity. The platform is already seeing steady growth in smart contracts, with 4,803 Plutus smart contracts as of January 8 and 780 added in December.
Additionally, Cardano is introducing two new stablecoins to their platform in the first quarter of 2023. First is USDA, a centralized stablecoin backed by US Dollar, and second is Djed, a token created in conjunction with Coti. These stablecoins might bring more liquidity and diversification to the network, allowing crypto traders to dabble in a broader range of financial strategies.
It is not only making progress in terms of development activity but also in price action as of late. As investor enthusiasm for cryptocurrency increases, ADA will likely receive even more attention. Given the evidence of its progress and ongoing features of its network, Cardano is indicating that it is one of the best cryptocurrencies to buy in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple (XRP) is best known for its widespread use for money transfers. Many banks and other financial organizations have signed up to use the Ripple settlement system, although it’s worth pointing out that most don’t actually use XRP tokens.
This has been one of the most-hyped digital tokens for a while now, but there have also been a few setbacks that have caused its price to rise and fall. For example, Ripple has run into unresolved regulatory issues that sparked concerns for investors. As such, the coin’s price is likely going to be held back until this matter is resolved one way or the other.
There’s still clearly a strong reason or two why the XRP token has been so talked about, and that’s because of its potential to provide fast and virtually cost-free transfers around the world. If they can sort out the issues holding it back, this could be a useful addition to your portfolio this year, but only time will tell how much.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Litecoin (LTC)
Litecoin was launched in 2011, making it one of the earliest forms of decentralized digital currency. It’s fair to say it hasn’t had the same publicity or hype as Bitcoin. Regardless, many people point to its speedier processing times and lower transaction costs to say that it should and will be worth more than BTC.
In fact, LTC uses the original Bitcoin source code and, technically speaking, is the result of a Bitcoin fork. Some changes to that original code make it faster and lighter, which means that it is well suited to its use as a peer-to-peer money transfer token that people can start using with more ease than other tokens.
With 84 million LTC tokens in the total supply, this remains a widely-used token, but there has been concern over its falling price in recent times. There’s no single reason why Litecoin hasn’t overtaken Bitcoin, but for some reason, it’s never had the same mainstream appeal as BTC. That being said, LTC can still provide an alternative investment in a neatly diversified portfolio.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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