Consider adding these promising cryptocurrencies to your portfolio in 2023.
Blockchain technology and cryptocurrencies have undoubtedly disrupted the world of finance significantly. As digital assets gain more traction, corporate giants, investors and traders are all accumulating cryptocurrencies alike. This has led to a swarm of emerging virtual assets in the crypto market. Based on key considerations such as longevity, price history, network updates, etc., here are the top ten cryptocurrency investments to consider in 2023.
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- USD Coin (USDC)
- Solana (SOL)
- Ripple (XRP)
- Cardano (ADA)
- Terra (LUNA)
- Avalanche (AVAX)
Best 10 Cryptocurrency Investments to Consider in 2023
Bitcoin (BTC)
Bitcoin, the first-ever cryptocurrency, is one of the most popular digital assets. Several altcoins emerged in the footsteps of Bitcoin. It was the first to solve the double-spend issue with a proof of work (PoW) consensus algorithm and mining process. The flagship cryptocurrency’s first-mover advantage has helped it remain the top crypto by demand, adoption, and market capitalization.
Global institutions are increasingly accumulating Bitcoin, expecting it to act as a hedge and outperform other traditional assets such as gold, stocks, etc.
Read Also: Bitcoin (BTC) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
ETH is the most famous altcoin, just after Bitcoin, in terms of overall cryptocurrency market share. Ether is the native token of the Ethereum blockchain, a layer one protocol on top of which most other altcoins in the market are built, using the ERC-20 standard.
The Ethereum network is famous because it has great potential. Most decentralized finance (DeFi) applications and other altcoins are built on Ethereum, making it incredibly desired despite high ETH gas fees. Any digital asset built on the Ethereum blockchain relies on ETH in some manner, making ETH more valuable.
Don't Miss: Ethereum (ETH) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tether (USDT)
Tether is a blockchain-based cryptocurrency that is backed by the US dollar. This means US dollars are kept in reserves at financial institutions serving as collateral. Stablecoins, when fully backed by the dollar, have a 1:1 relationship with USD.
Additionally, Tether can be sent anywhere globally much more quickly and with lower fees than transfers at traditional banks and financial institutions. While most people would not use Bitcoin or Ether for purchases and daily transactions due to their high volatility, it makes perfect sense to invest and use Tether.
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 a cryptocurrency created by Binance, the largest crypto exchange in the world. BNB has two main functions. It works as a ‘discount token’ to pay for trading fees on the exchange. Secondly, it fuels the Binance Smart Chain (BSC).
Back in 2017, Binance Coin was only a utility token that would give a trader a discount on trading fees. However, later in September 2020, Binance launched the Binance Smart Chain, a platform built for smart contracts, decentralized applications (dApps), and DeFi services.
Currently, the BSC is one of the largest DeFi platforms, making BNB a valuable asset to hold.
Check Out: Binance Coin (BNB) Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
USD Coin (USDC)
USDC is another stablecoin pegged to the price of a US dollar. It aims to make transactions faster and cheaper than traditional payments. USDC is always redeemable on a one-to-one basis for US dollars.
In 2021, more than $20 billion in USDC was minted. The stablecoin allows unbanked individuals in any country in the world to hold dollar value with nothing more than a mobile phone and a digital wallet — making USDC a crucial link between traditional finance and the blockchain-powered open financial system.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana (SOL) is a fourth-generation blockchain and cryptocurrency that leverages an open infrastructure to provide greater scalability. The network introduces various new and unique technologies to provide users with unmatched transaction speeds and enterprise-level security.
Solana is one of the most advanced blockchains in operation currently. The developers behind this project succeeded in creating a network that could surpass current payment processors in terms of TPS and functionality.
Don't Miss: Solana (SOL) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
XRP is the native crypto token of the Ripple blockchain platform, created by Ripple Labs. The coin is primarily used for cross-border settlements and is well-known for fast transactions.
Ripple’s high speed makes it a preferred choice for most banks as people demand faster transactions. It is poised to become an integral technology in the money transfer system and a leader in institutional financial operations using decentralized technology.
Read Also: Ripple (XRP) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Cardano is a popular blockchain network and open source project that aims to create a completely decentralized public blockchain platform for smart contracts with the native crypto token ADA. Cardano attempts to tackle some common issues facing large-scale blockchain adoption, such as scalability, interoperability, and sustainability.
It takes less energy to complete a transaction on Cardano when compared to larger networks like Bitcoin. This also means that transactions are faster and cheaper.
Check Out: Cardano (ADA) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Terra (LUNA)
Terra (LUNA) is a cryptocurrency and payment network created by Do Kwon and Daniel Shin, co-founders of Terraform Labs. The Terra blockchain supports a decentralized finance (DeFi) ecosystem in which price stabilization algorithms maintain price stability for its crypto token, LUNA.
Terra gives users access to a large array of DeFi applications and has become one of the most popular projects in the crypto world.
Read Also: Terra (LUNA) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche (AVAX)
Avalanche is one of the fastest smart contract platforms, measured by time-to-finality. It is also low-cost and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. The platform launched on mainnet on September 21, 2020, and has grown since then to secure over 450+ individual projects.
Check Out: Avalanche (AVAX) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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