Looking for a sustainable crypto investment? These are your best picks.
Recently, there has been a lot of attention on Bitcoin’s environmental impact amidst the rising concerns about the sustainability of cryptos. Efforts are being made to minimize the carbon footprint of cryptos, and some investors have already jumped abandoned BTC in favor of greener options. Eco-friendly cryptos or green cryptocurrencies employ several mechanisms like Proof-of-Stake and other energy-efficient algorithms to be more environmentally friendly.
Not every digital currency is an energy guzzler. There are plenty of greener alternatives, and here are the top 5 green cryptocurrencies to buy before it expands in 2023.
Ethereum (ETH)
The Merge would make Ethereum one of the top green crypto in the blockchain sphere.
Ethereum doesn't fit the title of green crypto as of now since it employs the highly energy-intensive Proof-of-Work consensus. But once it completes its transition to Proof-of-Stake, the protocol will become more eco-friendly and less taxing on the planet's resources. The energy requirements of the network will drop by a solid 99.5% with the PoS network without sacrificing speed, low costs, or user efficiency. Ethereum’s other pressing problems, like its slow transaction times, high energy, and lofty gas fees, would also be resolved once the Merge is completed.
Ethereum is one of the most popular blockchains and the leader in the decentralized application (dApp) space, hosting almost everything from non-fungible token (NFT) marketplaces to decentralized finance (DeFi) projects. It has also become an ideal option for institutions that attempt to build metaverse applications. This has given a potential advantage to ETH, giving it a stronger ROI potential.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
The expansion of its DeFi sector has placed Polkadot on the list of the top 5 green cryptos to buy before it explodes in 2023.
One of the main selling points of the Polkadot network is its environmental sustainability. A report from the Crypto Carbon Ratings Institute (CCRI) revealed that the DOT has the smallest carbon footprint out of all the top PoS chains, making it one of the top 5 green cryptos to buy before it explodes in 2023.
Polkadot is a flagship project by the Web 3 foundation. The relay chains strive to bring all the functionalities of DeFi while allowing users to harvest the benefits of a user-friendly interface. A key catalyst to DOT’s spike in value and price is the rapid development of its blockchain. The network has achieved massive growth by introducing numerous advanced technology and trading tools to the crypto market.
Moreover, numerous tech-savvy investors are now migrating to Polkadot and launching their own crypto-based projects on the network, significantly boosting its adoption.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Decentraland (MANA)
Thanks to its utilities in the metaverse and virtual worlds, Decentraland is regarded as the leading NFT-based platform in the crypto world.
If Metaverse-focused tokens with growth potential are your focus, then, Decentraland is your ideal choice. MANA is powered by the Ethereum blockchain and allows users to buy and sell virtual real estate. It is certainly one of the top green cryptos to buy before it explodes in 2023, as users can build, explore, socialize, and monetize virtual lands in Decentraland’s digital environment. Numerous Decentraland users are now generating sufficient revenue streams from virtual real estate through advertising, leasing, and other activities.
Moreover, multiple brands are setting up virtual real estate shops and conferences on the platform, boosting its adoption and pushing MANA to explode in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
BNB is one of the top green cryptos with minimal negative effects on the environment.
Binance Coin was initially created as a token hosted on the popular Ethereum network. Later Binance launched the Binance Smart Chain (BSC) in 2020 and made a major change to its consensus mechanism. BSC opted for an energy-efficient Proof of Staked Authority, as opposed to mining, making Binance Coin the native token of the Binance chain.
Although BNB was created for Binance investors to claim discounts on the exchange, the coin found ever-increasing utilities as the ecosystem spread its branches over time. BNB seems to be a good investment option as Binance, with the widest geographical reach, makes BNB easily accessible to a wide market.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Flux (FLUX)
Continuous improvements in the Flux Network would push the price of FLUX to explode in 2023.
Flux strives to be the leading decentralized cloud architecture platform in the crypto sphere. The Web 3.0 project leverages the power of blockchain technology to power applications that could be used for commercial and other purposes by institutions across the globe.
Although Flux runs on a Proof-of-Work consensus, it is more than just a PoW-powered blockchain. Flux employs a custom PoW hashing algorithm known as the FluxHash and is designed to be more energy efficient, making it one of the top green cryptos to buy before 2023.
Moreover, the developing team behind the crypto is planning to create a new paradigm that involves the use of the computational power of its network to solve real-life problems. With a long-term vision to provide real solutions, a strong infrastructure, a wide inventory of use cases, and seamlessly interoperable development tools, Flux seeks to usher in a sustainable new wave of crypto adoption.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Taking your chance with cryptocurrency investment for financial freedom is a two-way game. Although it involves risk, it is a highly lucrative sector. If you are an environmentally conscious investor searching for cryptocurrencies that have a shot at being more sustainable, these are the top 5 green cryptos to buy before it explodes in 2023.
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