Looking for undervalued cryptocurrencies to add to your portfolio in 2023? Read our guide on the most undervalued cryptos to buy today!
With the latest cryptocurrency market crash, the term undervalued cryptocurrency has been thrown around a lot. An undervalued asset is one trading below its true value. This means it has a huge potential to go up over time.
However, it is essential to note that only some crashed cryptocurrencies are undervalued. The good news is that you have come to the right place if you want to learn about the most undervalued crypto assets to buy for 2023.
Ready? Let's get started.
Most Undervalued Cryptocurrencies For 2023
Here is a summarised list of what we consider the most undervalued 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.
A Closer Look At The Most Undervalued Cryptocurrencies To Buy In 2023
When foraging the crypto markets for the most undervalued crypto to buy, we look at three critical key features. First, we looked at the need for the service a blockchain proposes to offer the world.
Secondly, we examined how well both the crypto and the blockchain technology have received from the crypto community and the world a large. Lastly, we examined its tokenomics and market cap to assess just how high its prices can grow in future.
Here is a detailed analysis of the cheapest undervalued cryptos.
1. Bitcoin (BTC) - Overall Most Undervalued Cryptocurrency in 2023
With a market cap of $324+ Billion ($1.3 Trillion at its peak), Bitcoin may be the most valuable cryptocurrency. But it still is one of the most undervalued cryptocurrencies. And we only say that it is undervalued because it is yet to live to its full potential. Originally designed to replace the fiat currency, Bitcoin is yet to live to this purpose.
For instance, in the fast-paced ecommerce industry, only a handful - mostly low-level stores - process Bitcoin payments. Additionally, of the 200+ countries and territories available in the world, only two recognize BCTC as a legal tender. It was expected to disrupt the banking industry starting with the cross-border payments niche. But this is yet to happen because the majority of individuals and even some of the banking industry players have only taken it up as a speculative investment asset.
In the next few years, and as Bitcoin and blockchain technology’s adoption gains momentum, BTC’s value is expected to shoot through the roof. By 2030, for instance, a solid number of crypto analysts and fintech professionals led by Cathie Wood - the founder and CEO of Ark Invest - expect its price to rally above $1 Million.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Ethereum (ETH) - Best Undervalued Crypto With Massive Upside Potential
Ethereum has been consistently voted the most promising cryptocurrency. It is home to most crypto innovations and has on so many occasions been referred to as the internet of blockchains. The majority of the most disruptive crypto technologies were created and are domiciled on the Ethereum blockchain.
The network is thus the de facto home of DeFi, dApps, NFTs, meme currencies, metaverse, Web3, and smart contract applications. Not forgetting that different crypto developers have committed to improving the Ethereum network’s effectiveness through the upgrade to Ethereum 2.0 as well as the launch of Layer-2 scaling solutions.
We believe Ethereum is one of the most undervalued cryptos to buy today because it is yet to exploit much of this value. We are confident that when all these niches eventually explode, they will help catapult ETH token prices to unimaginable heights.
They have already made Ethereum the most useful blockchain. And moving forward, the majority in the crypto community believe that the exploding use cases and rising demand for ETH tokens will help Ethereum surpass Bitcoin as the most valuable cryptocurrency.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Solana (SOL) - Most Undervalued Smart Contract Platform
Solana is the fastest-growing smart contract ecosystem. In the two years that Solana has been around, it has achieved more than most of its predecessors. It, for instance, incorporated the smart contract functionality before Cardano - which has been around since 2017.
Solana has been fast in incorporating emerging crypto technologies. But while it has grown its value exponentially in the two years, we feature it among the best undervalued crypto to buy in 2023 because the value gains SOL tokens is not commensurate with its perceived value.
So far, Solana has integrated the smart contract functionality and is home to several DeFi, dApps, and Web3 applications. It also hosts highly successful meme currencies and a host of the massively promising metaverse.
As is the case with Ethereum, the explosion of these emerging technologies on Solana is expected to catapult SOL token prices and the network’s market cap to unprecedented heights. Some optimists are confident that SOL token prices could reach and potentially break above $50 by 2025 before racing past $220 in the next 10 years.
4. Cardano (ADA) -Most Undervalued Crypto To Buy As A Beginner
Selling below 50 cents, Cardano is one of the lowest-priced cryptocurrencies on this list. But this isn’t the only reason why we include it on our list of most undervalued cryptocurrencies to buy in 2023. Like Solana and Ethereum, Cardano is yet to fully exploit its potential.
Launched in 2017, the ultra-secure blockchain network only integrated the smart contract feature in late 2021. Unlike its competition - Ethereum and Solana - Cardano is yet to fully integrate such emerging technologies as DeFi, dApps, Web3 apps, meme currencies, NFTs, and the Metaverse on to its platform.
Yet, Cardano still managed to grow its market cap to around $8.9 Billion - making it one of the 10 most valuable cryptocurrencies. This is testament to its massive potential and there is no telling just how high ADA token prices and the network’s market cap will get when Cardano eventually rolls out all these technologies. By 2025, most optimists are confident that ADA token prices will break above $25 and hit $100 by the turn of the decade.
5. Uniswap (UNI) - Most Undervalued Decentralized Exchange
Uniswap is the largest and most valuable decentralised exchange. According to DeFi pulse, Uniswap is the second-largest DeFi protocol with more than $3.3 Billion in total value locked. The number of registered users and trading volumes on the Uniswap decentralised exchange have been on an uptrend over the last few months. This, plus the growing privacy concerns among crypto investors and traders are some of the reasons why we rank Uniswap among the most undervalued crypto to buy in 2023.
Moving forward, government interference in the crypto space and the growing need for privacy are expected to continue driving user numbers and trading volumes on Uniswap DEX up. At the time of writing, DEX is already integrated into more than 300 dApps and DeFi protocols.
Moving forward, the onboarding of more users, further integrations, and growing privacy concerns will drive up the demand for UNI tokens and the platform’s market cap. By 2025, UNI token prices are expected to reach $20 and rise above $100 by the turn of the decade.
6. Cosmos (ATOM) - Most Undervalued Crypto for Blockchain Interoperability
Every crypto analyst and future-focused investor understands that the future of crypto and blockchain technology is in interoperability. That the adoption of Blockchain and crypto technology will only pick pace after blockchain interoperability is achieved. And at the forefront of driving this interoperability agenda is Cosmos with its revolutionary Interblockchain Communication Protocol (ICP).
The level of growth that interoperability promises the COSMOS ecosystem is the primary reason why we consider ATOM one of the most undervalued crypto to buy today. And in addition to the interoperable crypto-verse, Cosmos runs a modular framework that demystifies the blockchain ecosystem for developers and users - further increasing ATOM’s appeal and demand among crypto traders.
By December 2025, the most optimistic crypto analysts expect ATOM tokens to have broken above $40 before rallying past $170 in the next 10 years.
7. Aave (AAVE) - Most Undervalued DeFi Token
Aave is one of the largest DeFi ecosystems with more than $7 Billion in total value locked. It promises to be the future of banking and investing, effectively disrupting the conventional banking industry. Here, crypto traders and investors can save and earn higher than average interest rates on saved crypto. You could also borrow against their locked savings.
We feature it among the top DeFi coin and the best undervalued crypto to buy today because of the impact this highly disruptive technology has on AAVE token prices and the Aave ecosystem. As falling banking rates, rising inflation, political instability, and a deteriorating economy push more individuals towards the DeFi ecosystem, we expect Aave to grow its total value locked and a number of users.
These will have the net effect of catapulting AAVE token prices to unimaginable heights over the next few years. By 2025, analysts are optimistic that AAVE token prices can rally and reach $250, before racing further and storming into the next decade selling above $1,060.
8. Ripple (XRP) - Best Undervalued Crypto for Speculative Investing
Ripple is arguably one of the most innovative and massively disruptive crypto technologies around. It proposes to disrupt the banking industry - especially the cross-border payments niche by replacing the SWIFT payment system used by banks today.
Dozens of banks in different countries have already taken it up. It also posted excellent price action in the periods leading to 2018. All of these say that XRP is a massively potent crypto with a hugely promising future and that is why we include it on our index of the most undervalued crypto to buy in 2023.
Ripple’s further uptrend has been limited by the ongoing SEC case against Ripple labs. We, therefore, consider Ripple the best undervalued crypto for speculative investing because as soon as the court rules in favour of Ripple Labs, XRP token prices will skyrocket. If the verdict goes Ripple Lab’s way, the most optimistic analysts expect XRP token prices to rally to $1.5 by 2025 and past $6.8 by the turn of the decade.
9. Decentraland (MANA) - Most Undervalued Metaverse Cryptocurrency
Decentraland is the oldest and by far the most popular metaverse coin and project. It started in 2017 and already by end of 2021, it had more than 800K registered users with 300K monthly active users. During this period, MANA token prices reported an ROI of more than 25000% (at their peak).
Moving forward, the Decentraland metaverse is expected to onboard different technologies and partnerships that expand both its ecosystem and token prices exponentially. It has already incorporated blockchain gaming via the play-to-earn model, integrated NFT technology, DeFi, and dApps. These are all expected to help expand the Decentraland metaverse in the foreseeable future.
We feature Decentraland among the most undervalued crypto to buy in 2023 after examining MANA’s recent price action and the promise that the integration of these features has its future price and market cap. Moving forward, optimistic forecasters expect MANA token prices to reach $1.4 by 2025 and race to $6 by 2030.
10. Polygon (MATIC) - Best Undervalued Ethereum Scalability Token
Polygon is by far the most successful and one of the most promising layer-2 scaling solutions on the Ethereum network. Much of the headway in the Ethereum scaling niches was particularly made possible by Polygon’s ability to infuse all the different types of rollup chains and other types of infra required by developers. Polygon makes Ethereum as fast and scalable as its competitors.
Such effectiveness leads our analysts to believe that as more developers build on the network and the Ethereum ecosystem onboards more crypto technologies, MATIC token prices will skyrocket and reach unimaginable heights. Note also that Ethereum is on the verge of welcoming the ETH 2.0 upgrade. The move is expected to draw investors back to Ethereum, most of whom will end up using the Polygon L2 scaling solution.
Polygon is, therefore, full of promise and this is the primary reason why we believe it to be among the best undervalued crypto. In the next few years, and as the adoption of blockchain technology gathers pace, we expect Polygon to be one of the most sought-after L2 scaling solutions. This will spur the demand for MATIC tokens, effectively pushing their price past $3.6 by 2025 and well above $15.5 by 2030.
11. Trust Wallet Token – Fast-Growing Cryptocurrency as Crypto self-Custody Grows
While the collapse of FTX tanked the crypto market, Trust Wallet Token was an unlikely beneficiary. The token rallied by more than 100% in November 2022 after the Binance CEO encouraged people to move their cryptos to self-custody wallets. The surge in usage of the Trust Wallet pushed up the value of the Trust Wallet Token.
However, even after the recent surge in price, Trust Wallet Token is still an undervalued cryptocurrency. That's because, after the recent collapse of FTX, one of the world's largest cryptocurrency exchanges, many investors will start to question the safety of centralized exchanges.
This makes self-storage wallets like Trust Wallet big beneficiaries. By extension, this means the intrinsic value of the Trust Wallet Token is likely to shoot up over time. Despite its rally, TWT token is a top undervalued cryptocurrency to invest in 2023.
12. Chainlink – Number one Decentralized Oracles Cryptocurrencies
Chainlink is the largest decentralized oracles network in the market. The Chainlink network provides tamper-proof inputs and outputs for complex smart contracts on any blockchain. Delivering data-rich services from verifying GPS locations to pricing financial instruments, Chainlink oracles have powered some of the most popular applications in DeFi.
LINK, the native token of Chainlink, enables the incentivization of node operators who power the network and provide external data to smart contracts. The use of LINK as payment allows for real-time settlement between requesters and providers without counterparty risk. By connecting smart contracts to real-world data, Chainlink enables next-generation decentralized applications to launch with increased trustlessness, reliability, and security. With its large ecosystem of node operators, enterprises, tooling providers, and solution integrators, Chainlink is building the foundation for a fully decentralized economy.
Its market dominance is what earns LINK a place amongst the 11 most undervalued cryptocurrencies to buy in 2023. Chainlink is so dominant that it accounts for more than 60% of the total decentralized oracles market. This dominance has made Chainlink the default network for all networks in need of data for their smart contracts.
Even with its capabilities and market dominance, Chainlink's price has taken a hit for the better part of 2022. From highs of $50 back in 2021, Chainlink is currently trading below $10. This makes LINK heavily discounted and a perfect undervalued altcoin to buy in 2023.
13. Filecoin – Undervalued Cryptocurrency That is Looking to Decentralize Cloud Storage
Despite the cryptocurrency market crash of 2022, most analysts are bullish on the future of Web 3.0. This means fundamentally strong Web 3.0 cryptocurrencies that have taken a hit in 2022 are undervalued at current prices.
On this basis, Filecoin stands out as one of the undervalued Web 3.0 cryptocurrencies to invest in 2023. Filecoin is a cryptocurrency and digital payment system that uses blockchain technology to provide a decentralized way of storing and retrieving data. The Filecoin system is designed to be cooperative, with nodes working together to store and retrieve data. The system is open-source, meaning that anyone can contribute to its development.
Filecoin is intended to provide an alternative to traditional storage methods, such as centralized servers. With Filecoin, data is stored on a network of nodes, and users can receive rewards for contributing their storage space to the network. In addition, Filecoin provides users with a way to pay for storage and retrieval services. The Filecoin system is still in its early stages of development, but it has the potential to provide a more efficient and decentralized way of storing and retrieving data.
Despite its strong use case, Filecoin's price is currently off its all-time highs by over 70%. This means buying it now you would be getting it at a discount. If the market turns bullish in 2023, Filecoin is undoubtedly one of the most undervalued growth coins to invest in.
14. Dogecoin – Undervalued Meme Coin That is a Favorite of Elon Musk
Dogecoin shot in popularity in 2020 after Elon Musk started tweeting about it. Doge then became one of the best-performing cryptocurrencies in 2021, rallying by 12,000%. But after the crypto crash of 2022, is Dogecoin a good investment in 2023?
To answer this, it is important to understand what Dogecoin is all about in the first place. Dogecoin is a cryptocurrency that was created as a joke in 2013. It is based on the popular "Doge" meme, which features a Shiba Inu dog.
Despite its humble origins, Dogecoin has become one of the more successful meme coins. It has a large and active community and is often used for tipping or charitable donations. Dogecoin also has a relatively low price, making it a good choice for small transactions. Thanks to its popularity, Dogecoin has become one of the more well-known cryptocurrencies and is often mentioned in the same breath as Bitcoin and Ethereum.
What makes Dogecoin a truly undervalued cryptocurrency is its connection to Elon Musk. Musk used to tweet about Dogecoin throughout 2020/21. In 2022, Musk has bought Twitter, and speculation is rife that he could integrate Dogecoin as a payment method.
With all this going on, the price of Dogecoin remains highly depressed and is at a discount of more than 80%. This makes DOGE an undervalued altcoin and one of the best growth cryptocurrencies to buy in 2023.
15. BNB – Cryptocurrency that Powers the Largest Cryptocurrency Exchange
Binance is now the world's largest cryptocurrency exchange. This makes its native token, BNB, one of the most valuable cryptocurrencies in the world today.
However, besides its association with the Binance exchange, BNB stands out for its tokenomics.
As any cryptocurrency enthusiast knows, there are two main types of coins: inflationary and deflationary. Inflationary coins are designed to increase supply over time. On the other hand, deflationary ones have a limited supply that decreases over time. Binance coin is a deflationary coin, meaning that there is a fixed supply of coins and the number of coins in circulation drops every month.
This is accomplished by burning a certain percentage of the coins that are traded on the Binance exchange. As a result, the demand for Binance coins increases as the supply decreases, which drives up the price. For investors, this makes Binance coin an enticing investment opportunity.
Despite these strong fundamentals, Binance Coin's price, like the rest of the market remains depressed. At the moment, Binance Coin is trading at more than 70% off its most recent high. This means if there is a crypto resurgence in 2023, Binance Coin would have significant upside potential. This makes it a high-potential cryptocurrency to buy and hold in 2023.
16. Shiba Inu – A Top Meme Coin That Has Entered the Metaverse
Shiba Inu has made significant strides in recent months. In addition to becoming one of the top cryptocurrencies by market cap, Shiba Inu has also started to build its own Metaverse. The Shiba Inu Metaverse is a decentralized virtual world for P2E gaming and other virtual use cases.
The Shiba Inu Metaverse is yet to gain traction, but the team behind Shiba Inu is confident it will succeed. With the Metaverse, Shiba Inu will offer a unique experience to users, and further cement its position as a top cryptocurrency. At the same time, the Shiba Inu team has created a layer-2 solution to make SHIB better, more scalable, and perfect for everyday transactions.
With all these developments, SHIB is trading at a huge discount from its 2021 highs. This makes it one of the most undervalued cryptocurrencies to buy in 2023.
How Do You Determine If A Cryptocurrency Is Undervalued?
Many people believe that crypto assets are currently undervalued. While there is no guarantee that this will continue to be the case, buying an undervalued asset does provide the opportunity to get in at a discounted price. Of course, correctly identifying an undervalued asset can be difficult, and there is always the risk that the asset will never reach its perceived worth. However, for those willing to take on this risk, buying an undervalued crypto asset can be a great way to invest.
So, how do you go about finding cryptocurrencies that are undervalued? Here are a few steps you can use to identify undervalued cryptocurrencies to invest today.
Look at the macro trends
The cryptocurrency markets are notoriously volatile. However, like most tradable instruments, the cryptocurrency markets also go through cycles of bullish and bearish sentiment. During a bull market, prices tend to rise steadily over weeks or even months. This can be a great time to buy into the market, as prices are likely to continue to climb.
However, bull markets eventually come to an end, and this is typically followed by a period of price decline known as a bear market. Bear markets can last for extended periods and can be pretty painful for investors who are holding onto losing positions. However, bear markets also present an opportunity to buy low and sell high. Understanding the market cycles is essential for any investor looking to profit from the cryptocurrency markets.
Check out the cryptocurrency's market capitalization
When evaluating a crypto asset, one of the first things to look at is its market capitalization. This figure gives you the project size and can be used to compare different assets. Market capitalization is represented by multiplying the total number of tokens in circulation by the current price.
This figure can give you a good sense of how popular it is with traders. However, it's important to remember that market capitalization is only one factor to consider when evaluating an asset. For better trades, also look at the team's experience, the roadmap, and the project's use case. If a project has strong fundamentals, then it may be worth investing in despite a lower market capitalization.
It is also noteworthy that cryptocurrencies with a low market capitalization tend to be riskier but have a bigger payoff. That's because even a small amount of money can hugely impact the price. A low-cap new cryptocurrency may be riskier than Bitcoin, but it has the potential to do 10x or more in bull markets easily.
How To Invest In The Most Undervalued Cryptocurrency For 2023
Up to this point, you have a good idea of the best-undervalued cryptocurrencies to buy in 2023. So, how do you go about buying them?
While there are multiple top cryptocurrency exchanges where you can buy undervalued tokens, eToro is one of the best.
eToro is regulated in key jurisdictions like the US, the UK, Australia, and Cyprus. This means your investment is always safe. eToro is also friendly to beginner investors, allowing them to trade for as low as $10.
Where To Buy The Most Undervalued Crypto In 2023?
All the undervalued cryptocurrencies we have listed in the above guide are massively popular. They have thus been listed with virtually all the most popular crypto trading platforms and exchanges around.
If you are just getting started with crypto investing, we recommend buying the most undervalued crypto from any of these crypto exchanges:
- eToro - The most beginner-friendly trading platform. Maintains a user-friendly trading platform, and transparent fee structure, and also integrates social and copy trading tools.
- Coinbase - Coinbase if bets for buying crypto instantly. It too maintains a user-friendly trading platform and is deeply liquid.
- Binance - Best for ultra-low crypto trading fees. Binance maintains the lower and heavily discounted crypto trading fees, is deeply liquid, and insures client digital assets.
How To Buy The Most Undervalued Crypto On eToro
eToro is one of the best places to buy and invest in crypto for beginners. The process of buying crypto here is straightforward, the exchange is adequately liquid, maintains affordable deposit/trading limits, and is also transparent with the trading fees.
Here is the step-by-step guide to buying any of the most undervalued cryptos on eToro.
Step 1: Register a crypto trader account
Open the official eToro website and hit the “Join Now” icon to begin the registration process. Here, the broker will also for such personal details as your name and email address, phone number and country of residence, as well as income sources and trading experience.
Step 2: Verify your identity
eToro is a multi-regulated exchange and will, therefore, ask you to verify your identity. Simply upload a copy of your ID, passport, or driver’s license.
Note: You will receive an email notification once the identity has been verified.
Step 3: Deposit funds
Log in to your eToro crypto trader account and hit the “Deposit” button on the user dashboard. A funding menu will pop up indicating all the payment options available to you - based on your country of residence. Choose one and follow the prompts to complete the deposit.
Step 4: Search for the undervalued crypto
Still on the user dashboard, hit the “Discover” button. Use the search option to find the most undervalued crypto you had already identified.
Step 5: Buy undervalued crypto
Press the “Buy” option and a trading tab will pop up. Use it to customise the trade by entering the number of cryptos you wish to buy or the amount of cash you wish to spend on that trade. Hit the “Open Trade” button to complete the purchase.
Note: The private keys for the undervalue crypto you just bought will be delivered to your exchange-based wallet. From here, you can move them to the free and non-custodial eToro mobile wallet app for onward transfer to third-party exchanges and hardware wallets.
Conclusion: Most Undervalued Crypto To Buy In 2023
In the above guide, we have discussed everything you need to know about the most undervalued crypto to buy in 2023.
We started by highlighting the 10 best undervalued cryptos to buy. We also explained why each makes it to this list as well as what they all will most likely be worth in the medium-to-long term. The guide then looked into what an undervalued coin refers to and discussed what to look for when determining if a coin is undervalued.
We concluded by providing you a step-by-step guide on how to start buying these undervalued cryptocurrencies on eToro. Go through this list again, identify the crypto you wish to invest in, and then follow this buy guide to acquire some on eToro.
eToro – Best Platform To Buy Undervalued Cryptocurrencies
Open an account with eToro, deposit some funds with USD, and finally – buy cryptocurrencies for just $10.
Why Should I Buy Undervalued Cryptocurrencies In 2023?
Investing in cryptocurrencies is always a financial venture worth considering. When an undervalued coin with great potential and impressive underlying technology is underpriced it can be a real bargain if you invest at the right time.
Underpriced coins, once discovered, can gain momentum, and appreciate rapidly, leading traders to start selling and potentially make profits far beyond 2023.
Usually, it’s a waiting game. You need to sit and keep still until the market starts to see the real underlying value behind the coin. That’s when the price could explode.
Many crypto investors look solely for undervalued cryptocurrencies just because they know that they present some of the best opportunities available today.
However, remember to only invest money you feel comfortable losing! Always do your research and consider the reward-risk ratio of the asset you are willing to invest in.
Traders should also be cautious of very new coins that have just arrived on the market because it is harder to see if they are undervalued or not (they may even be overvalued if they are rubbish).
Ideally, you should only invest when you see some promise. This usually comes in the form of an upwards trend but could also be an increase in trading volume or even more attention on social media platforms, like Twitter. Do not invest in a coin purely based on hearsay!
You need some idea of where the coin has been before to picture what its future might be.
Are cryptocurrencies undervalued today?
While only some things that crashed in 2022 are undervalued, those we discussed in the list above are undervalued.
How do I identify good undervalued cryptocurrencies?
There are multiple ways, but the best is to look at the market capitalization, core fundamentals, and, most importantly, the macro factors affecting the market.
Which is the most undervalued crypto in 2023?
In the above guide, we have discussed 10 of what we believe to be the most undervalued crypto in 2023. Pick one, that you are confident has a sustainable and highly successful future, and start investing today.
How do I buy undervalued cryptocurrencies in 2023?
While there are many exchanges where you can buy, eToro is the best. eToro is regulated, which means your money is safe. eToro also allows you to invest as low as $10.