Do you want to skip the read and get right to our top picks? The best cryptocurrency to buy in Australia 2023 is Bitcoin or Ethereum.
Wondering what cryptocurrencies will be the best ones to invest in Australia in 2021? In this post, we’ll be exploring cryptocurrency trends to bring you ten potentially explosive cryptocurrencies in the upcoming years.
Top 10 Best Cryptocurrencies To Invest In Australia In 2023:
4. Ripple (XRP)
7. IOTA (MIOTA)
You can buy all of these top cryptos, as well as many other coins, with eToro and pay 0% fees!
There are more than 12,000 cryptocurrencies, and they keep growing in number every day. Picking the right cryptocurrency to invest is one of the essential factors to have an excellent return on the investment.
If you are from Australia, and you are looking for the right cryptocurrency to invest, you are in the right place at the right time. In this article, we have listed the top 10 cryptocurrencies to invest In Australia in 2023, so you will have an idea of where to start.
Warren Buffet has two rules about investing: "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1".
And, we are here so that you do not lose money making unsuitable investments. Although 12,000 is indeed a considerable number, in the matter of investing in cryptocurrencies in Australia, people usually go with the most reputable coins. There are several factors as to why one would go with a reputable cryptocurrency, but the main reason is safety.
However, let's not fool ourselves. Many times new coins are the ones that grow the most. So, investing in them turns out to be the right decision, despite the lack of certainty.
Moreover, 2020 has been a compulsive year regarding cryptocurrencies. With halving that took place in May and with the coronavirus pandemic occurrence, volatility has come to the fore. Due to the coronavirus pandemic, cryptocurrency prices crashed down but then picked themselves up.
Bear in mind that Bitcoin halving takes place every four years, and it has occurred three times in the history of cryptocurrencies. Usually, afterwards, cryptocurrencies grow in value drastically.
And, this is the main reason as to why 2023 might be a year when cryptocurrencies will explode. Experts predict significant growth in cryptocurrencies' value, and large firms are investing vast amounts of money in cryptocurrencies, which is a sign of what's to come.
So, stay tuned and keep reading the article to find out the best coins to invest in Australia in 2023.
What Are The Top 10 Cryptocurrencies To Invest In Australia In 2023?
Here is a look at the top 10 cryptocurrencies to buy in Australia this year.
1. Bitcoin (BTC)
Talking about cryptocurrencies and not mentioning Bitcoin is like talking about parts of the car and not mentioning the engine. Bitcoin is one of the best cryptocurrencies to invest in Australia. It was the first cryptocurrency to be released in 2009 marking the beginning of the cryptocurrency era. Often it is referred to as "a new kind of money". Bitcoin remains the preferred cryptocurrency to invest for Australians.
Bitcoin has been staying just around $63,000 most of the time this year, but according to experts, charts are showing bullish signs ahead.
Altana Digital Currency's Chief Investment Officer, Alistair Milne shared a chart on Twitter predicting that Bitcoin can reach a price of $120,000 by 2023. According to Milne, the chart was sent to the Citibank FX Wire mailing list.
Bitcoin reached its all-time high of $65,000 in April 2021, and it might sound a little exaggerating to say that it will skyrocket past $100,000 anytime soon. However, Bitcoin knows how to surprise. So, stay tuned!
Read More: Bitcoin Price Predictions
2. Ethereum (ETH)
Ethereum is one of the top cryptocurrencies to invest in Australia. With the release of Ethereum something new was introduced in the world of cryptocurrencies; smart contracts. The introduction of the platform enabled people to create ERC-20 tokens.
Ethereum surprised cryptocurrency enthusiasts when it reached the all-time high of $4,168 in May 2021.
Developers can build apps on the network via the Ethereum blockchain. These are also called dApps in crypto language; decentralised apps. A crucial development recently has been the growth of DeFi which stands for "decentralised finance". This can be regarded as an additional development of the dApps.
DeFi companies are service providers who, for instance, provide credit services on the Ethereum blockchain where only a smart contract is needed for export.
According to DigitalCoin by December 2023, Ethereum's price will reach about $7,190.
Vitalik Buterin developed Ethereum in 2015, and it got popular in 2017 when its value reached from $10 to almost $900.
Check Out: 5 Reasons Why Ethereum Classic Could Double Your Money In 2023
3. Bitcoin Cash (BCH)
Bitcoin Cash is one of the most preferred cryptocurrencies to invest in Australia. Bitcoin Cash is a fork of Bitcoin that was created in 2017, and sometimes it is referred to as Bcash.
Bitcoin Cash is an electronic cash system that aims to become global money with fast payments, low fees, privacy, and high transaction capacity (big blocks).
According to Primexbt Bitcoin Cash is expected to cost about $2850 by the end of 2023.
In 2017 there was a concern about Bitcoin's scalability and Bitcoin Cash was created as a hard fork to carry the mission of Bitcoin as a "peer-to-peer electronic payment system". The purpose of Bitcoin Cash is to scale so it can meet the global demand for digital payments.
Don't Miss: Why Bitcoin Cash Is Going To Explode
4. Ripple (XRP)
Ripple is not only a cryptocurrency. It is a digital asset that is built for payments. What's unique about Ripple is that it is a permissionless and decentralised blockchain technology that can settle transactions in 3-5 seconds.
Ripple is known for its low price, which makes it possible for anyone with a small budget to contribute to Ripple. This actually makes XRP an excellent investment opportunity for people who want to invest small amounts of money.
According to Crypterium with blockchain technology getting more recognition and XRP maintaining or upgrading its current position in the market, it's viable to see movements above the $2 mark in 2023, mainly if institutional interest continues to grow.
Ripple Price Predictions: How Much Will Ripple Be Worth In 2021 And Beyond?
5. Litecoin (LTC)
Litecoin is one of the most prominent cryptocurrency to trade in Australia. Litecoin was released in 2011 by Charle Lee, a former engineering director at Coinbase and it is just a spinoff of Bitcoin. Litecoin gained a lot of recognition in November of 2013 when it experienced massive growth, including a 100% leap within 21 hours.
Litecoin is known for fast transactions aiming to process a block every 2.5 minutes, while Bitcoin does it every 10 minutes.
Although Litecoin seems like a cryptocurrency with a quiet nature, its community is active, which promises a bright future for the altcoin. According to CoinSwitch by 2023, Litecoin's price might reach $600. These are totally new heights for the altcoin.
Read Also: Litecoin Price Prediction – Will LTC Value Rise?
6. Cardano (ADA)
Cardano was released in 2015, and it is a proof-of-stake blockchain platform. Cardano is a steadily evolving technology which has attracted savvy traders and investors. It's cryptocurrency ADA has surprised everyone in Australia and worldwide with its positive performance.
Cardano has a dedicated team behind that is building "a decentralised future without intermediaries, in which power is returned to the individual".
As per Coinmarketcap, Cardano at the moment stands at $2.20. According to Primexbt, a new price surge can take Cardano to as high as $3.18 in 2023.
Check Out: Is Cardano a Good Investment?
7. IOTA (MIOTA)
IOTA uses a directed acyclic graph called Tangle to store transactions on its ledger. IOTA is designed to record and complete transactions among machines and devices in the Internet of Things (IoT) ecosystem.
At IOTA they believe that Tangle is faster and more efficient than typical blockchains used for other cryptocurrencies.
IOTA reached its all-time high of $5.25 on December 19, 2017. At the moment the price of IOTA is around $1.24.
According to Coinswitch, IOTA might surge upwards and reach $5.62 by 2023. Therefore investing in IOTA in 2023 seems like the right decision to make, with good chances for an excellent return on the investment.
Don't Miss: IOTA Price Prediction Forecast
8. TRON (TRX)
TRON is another blockchain-based platform that aims to build a global digital content entertainment system. This coin was created to change the way content and publications are being published. It was found in 2017 by the Chinese entrepreneur Justin Sun. Its cryptocurrency TRX remains one of the favourite ones to invest in Australia.
TRX registered its all-time high at $0.23 on January 5, 2018. Right now, TRX's price is at $0.10.
TRX is one of the most surging coins, and according to Coinswitch, it has great potential to grow on the market in the near future. By 2023, the TRON Price is forecasted to stand at $0.54.
TRX's price depends on the acceptance ratio of its blockchain-based platform - TRON. So, as more organisations adopt the technology, the coin becomes more valuable.
Read More: Tron Price Prediction
9. Stellar (XLM)
Stellar was launched in 2014 by Jed McCaleb founder of Mt. Gox and co-founder of Ripple, together with former lawyer Joyce Kim. Stellar is differently known as the "Secret Bitcoin Project" as that is how McCaleb firstly called the website where he was seeking for alpha testers.
Its native asset, the cryptocurrency, is called Lumen (XLM). XLM powers the Stellar network and all of its operations, similarly to how ether (ETH) powers the Ethereum network.
Stellar's price right now is at $0.374, and it might seem way too low, but according to Digitalcoin by the end of 2023 Stellar's price could go up to $0.98.
Stellar is one of those coins that has a low price, but as we said at the beginning of the article, not always the most reputable coins are the best ones to invest in. So, Stellar can surprise all of us in the years to come.
See Also: Stellar Lumens Price Predictions
10. EOS (EOS)
Although prominent cryptocurrencies like Bitcoin are the most preferred ones by Australians to invest in, coins like EOS are not left out. EOS is a smart contract platform that aims to eliminate transaction fees and also handle millions of transactions per second.
The private company block.one released an open-source software on June 1, 2018 beginning to offer EOS tokens. At EOS, they aim to be the most powerful infrastructure for decentralised applications.
The price of EOS right now stands at $4.45. On April 29, 2018, EOS reached its all-time high of $22.71. According to PrimeXBT, EOS' price can experience another remarkably powerful burst upward, placing a new all-time high near $160 per EOS in 2023.
Check Out: Why EOS Is Going to Explode
Top 4 Cryptocurrencies to Buy and Sell in Australian Dollar
1. Bitcoin to Australian Dollar - BTC/AUD
BTC/AUD allows you to buy and sell Bitcoin in Australian Dollars.
How to Buy and Sell Bitcoin in Australia
If you’re Australian and want to buy and sell Bitcoin, you’re lucky. You can buy and sell bitcoin in AUD. Traders who believe that Bitcoin price will rise against the AUD may want to open a long position and buy, while those who think the opposite will open a short position and sell.
Should You Invest In Bitcoin/ Australian Dollar?
Trade Bitcoin to Australian Dollar
2. Ethereum Classic to Australian Dollar- ETC/AUD
ETC/AUD allows you to buy and sell Ethereum Classic in Australian Dollar.
How to Buy and Sell Ethereum Classic in Australia
Australians can buy and sell ETC in their own currency, Buy and sell ETC/AUD pairs based on whether or not you feel that the ETC price will rise against the AUD.
Should You Invest In Ethereum Classic / Australian Dollar?
Trade Ethereum Classic to Australian Dollar
3. Ripple to Australian Dollar - XRPAUD
XRPAUD allows you to buy and sell Ripple in Australian Dollar.
Buy and Sell Ripple in Australia
This is the currency pair that represents the price of each Ripple coin in the Australian Dollar.
The XRP is indeed influenced by how well other cryptocurrencies are traded worldwide, as well as its acceptance by leading financial establishments.
Open a long position to buy these coins or a short one to sell them based on their predicted performance and your judgment.
Should You Invest In Ripple / Australian Dollar?
Trade Ripple to Australian Dollar
4. Ethereum to Australian Dollar - ETH/AUD
ETH/AUD allows you to buy and sell Ethereum in Australian Dollar.
Buy and Sell Ethereum in Australia
ETHAUD is the currency pair that represents the price of each Ethereum coin in Australian Dollars. Ethereum is the second popular cryptocurrency in Australia and worldwide. The Australian Dollar (AUD) is the official currency of Australia. Both coins are popular, with the ETH considered second to Bitcoin in terms of market cap and the AUD being a top global reserve currency.
Traders who predict that the price of Ethereum will rise, may open a long position and buy ETCAUD, and those who feel otherwise might open a short position and sell ETCAUD.
Should You Invest In Ethereum / Australian Dollar?
Trade Ethereum to Australian Dollar
- Choosing the right cryptocurrency to invest at the right time is key to making earnings.
- Bitcoin and ethereum remain the top cryptocurrencies to invest in Australia.
- Bitcoin halving could lead to a cryptocurrency price surge in the next few years.
- Ethereum's value is expected to grow and reach $3,190 by the end of 2021.
- EOS' price is expected to reach $160 by 2023.
- Australian traders can buy and sell top cryptocurrencies in Australian Dollar
Learn More About How To Invest Cryptocurrencies In Australia
Once again, there are many cryptocurrencies you could pick and invest in, but investing in the right one is a determining factor in increasing your chances for success.
It is worth noting that the price predictions above might look unrealistic to you, but cryptocurrencies know how to surprise us. Let's not forget that during the cryptocurrency boom in 2017, many people were dumbfounded and astonished.
Top Cryptocurrency Broker In Australia
Well, now you know what the best cryptocurrencies to invest in Australia are. So, if you are willing to start your trading journey, you will need a cryptocurrency broker.
eToro supports all the cryptocurrencies mentioned above. In total, you can invest in cryptocurrency assets, and CFD's on up to 90+ cryptocurrencies on eToro. Further, eToro is voted as the top broker in Australia.
eToro has a unique copy trading feature where you can copy a trader, and any trades they open will automatically open in your account with a proportionate percentage of your designated funds.
eToro is one of the safest brokers to use because elite financial authorities regulate its Australian arms in AU, and it is a well-known fintech Company.
Many countries do not allow CFD trading, but in Australia, you can perform CFD trading using eToro. eToro AUS Capital Pty Ltd. is the holder of an Australian Financial Services Licence (AFSL) 491139 issued by the Australian Securities and Investments Commission (ASIC) and regulated under the Corporations Act (Commonwealth).
Whether you have never traded cryptocurrencies or you are an experienced trader, but want to shape your trading skills, we hope you found this article valuable and helpful. If you've liked it, give us a like and share it in case anyone else would want to invest in cryptocurrencies in Australia.
eToro – Buy The Best Cryptocurrencies In Australia
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
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