Top 5 High-Reward Cryptocurrencies That Investors Love In 2023

By Trading Education Team

Last Updated December 13th 2022

5 Min Read

Top 5 High-Reward Cryptocurrencies that Investors Love in 2023 - Our Picks

BTC - King crypto deemed the best high-reward crypto

ETH - Top altcoin that is a must-have for 2023

AVAX - Booming crypto for 2023

BNB - Top exchange token that investors love

ATOM - High-reward crypto that is overlooked often

A Closer Look At The Top 5 High-Reward Cryptocurrencies That Investors Love In 2023

Mulling the best cryptocurrencies to buy now may seem laughable these days, as 2022 has been a near-constant stream of selling and bad news in the world of crypto, blockchain, and decentralized finance, or DeFi.

November brought more of the same when leading crypto exchange FTX imploded as it became clear the firm was an overleveraged and irresponsible custodian of customer deposits. As a result, through the end of November, the total cryptocurrency market value has plunged 60.6% in 2022.

Folks tend to forget that such swings are hardly unprecedented: The market lost more than 60% between June 2019 and March 2020, about 70% in four months in 2018, and about 80% between late 2013 and early 2015. Cryptocurrencies, as they always have been, remain incredibly volatile yet highly rewarding. For risk-tolerant investors, here are the top 5 high-reward cryptocurrencies that investors will love in 2023.

Bitcoin (BTC)

The so-called blue-chip cryptos – the digital currencies whose brand, usage, and loyalty are so well-established that cryptocurrency itself would have to disappear for them to collapse fully – have arguably never been more important. Bitcoin, the first cryptocurrency and still the most valuable with a market cap north of $320 billion takes the cake.

For investors who merely want some exposure to this asset class, Bitcoin is the most battle-tested and is a must-own, considered as a sort of digital gold and valued as a currency that cannot be manipulated by any print-happy central government. However, only 21 million BTC will ever exist, with 92% of them already in existence and the creation of new Bitcoin occurring at a known and decelerating pace.

BTC is and will be a high-reward cryptocurrency in 2023 and beyond.

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

Ether (ETH)

The only other blue-chip crypto, Ether, is the native token on the Ethereum blockchain, and so it is often colloquially referred to as Ethereum. Its $150+ billion market cap is dwarfed by Bitcoin, but it's more than three times the size of the next-largest token, excluding stablecoins.

The Ethereum blockchain is one of the most-used chains in the world, supporting a rich landscape of non-fungible tokens, games, smart contracts, and DeFi lending abilities. In contrast to Bitcoin, the Ethereum network now uses a proof-of-stake, or PoS, protocol following the Ethereum "Merge" in September. This is a net positive, especially for environmentally focused investors, as PoS is far more energy efficient than Bitcoin's proof-of-work protocol. ETH is a high-reward altcoin that experts recommend for 2023.

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

Avalanche (AVAX)

Since it's Bitcoin and Ethereum and then everything else, the cryptocurrencies that follow should all be considered speculative altcoins merely because of their small market caps and less-established natures. That said, each remaining pick has an interesting aspect, and Avalanche's blockchain, which sports AVAX as its native token, is no different.

Avalanche's "subnets" technology is the differentiator. The chain aims to become the Amazon Web Services of crypto, with its subnets feature essentially allowing the deployment of many separate blockchains on top of its network. Developer Ava Labs sees the future of many thousands of blockchains as inevitable. Since debuting in September 2020, the AVAX token has more than doubled from its initial value of about $5.30. AVAX is likely to continue its trajectory, making now a good time to buy.

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

Binance Coin (BNB)

Although it's true that no other crypto rivals the size of BTC or ETH, BNB – the native token of the Binance cryptocurrency exchange – is the closest. With a market cap of about $46 billion, not only is BNB the third-largest crypto, it's more than twice the valuation of the next non-stablecoin. So while the sudden implosion of the FTX exchange in November was another blow to crypto's reputation in general, it was arguably a boost for the Binance ecosystem, which was FTX's largest rival.

Binance is now easily the most dominant crypto exchange in the world. Recently, the trailing 24-hour volume on Binance was $11.6 billion, dwarfing its closest mainstream competitor, Coinbase Global Inc., with a volume of $1.5 billion. Unlike many other top cryptocurrencies, BNB both has a hard cap on its supply and aims to reduce supply over time by "burning" a portion of its BNB-denominated transaction fees – thereby increasing scarcity. As a result, BNB is one of the hottest coins on the market today.

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

Cosmos (ATOM)

The last pick among the top high-reward cryptos investors love is Cosmos' ATOM token, which also happens to double as the least valuable by market cap, at a size of roughly $3 billion. ATOM is the native token of the Cosmos Hub blockchain and a governance token. As a governance token, ATOM owners also get a say in how the project should proceed.

It is intended to be an environmentally friendly platform whose technology makes inter-blockchain communication friendlier, faster and cheaper while simplifying the ability of engineers to code decentralized applications. Like Polygon, the project's underlying goal is to improve the overall ecosystem and make blockchain a more widespread, easily accessible part of everyday life. ATOM is up 50+% from its June lows.