Want To Get Rich In 2023? Invest In Ethereum (ETH), Terra (LUNA) And Ripple (XRP)

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

Last Updated December 29th 2022
4 Min Read

Get rich by investing in these cryptocurrencies over the long term.

2021 was an adventurous year for the crypto market. Bitcoin and other major altcoins saw their prices reach new all-time highs. Although the market experienced some pullback recently, experts have predicted 2023 to be a successful year for virtual assets. 

Despite its popularity, Bitcoin is not the only cryptocurrency that is flourishing. Innovators and spinoff currencies have emerged in large numbers, and more than 15,000 cryptocurrencies are available today. So how do investors know which is the best crypto to invest in with so many available options?

Based on critical considerations such as buy ratings, price history, network updates, etc., we have put together a list of cryptocurrencies that could help you get rich in 2023. These digital assets are popular among investors and traders as they have room for growth. So let us look at these assets and understand what makes them suitable candidates for investment right now. 

  • Ethereum (ETH)
  • Terra (LUNA)
  • Ripple (XRP)

Ethereum (ETH) 

Ethereum is a decentralized, open-source technology with several uses and applications across the tech world, especially for gaming, music, entertainment, and decentralized finance (DeFi). Along with its native token Ether (ETH), the network also hosts everything from decentralized applications (dApps) and non-fungible tokens (NFTs) to enterprise blockchain solutions. This makes Ethereum one of the most popular and widely-adopted cryptocurrencies in the market. 

Moreover, ETH has grown immensely in value since its inception. The token fuels the entire Ethereum network and is the second most popular cryptocurrency based on market cap. Apart from this, almost all DeFi projects rely on Ethereum, which grants the network access to a wider audience of users, currencies, nodes, and markets. 

Ethereum is now gearing up to launch its much-awaited Ethereum 2.0 (Consensus Layer) upgrade this year. This will substantially overhaul the network and address some of the crucial issues of blockchains like scalability, high gas fees, and congestion in the network. 

Moreover, this will merge the beacon chain with the Ethereum mainnet and switch the network to Proof-of-Stake (PoS) protocol. Therefore, the Ethereum blockchain will become much faster, more scalable, sustainable, less energy-intensive, and have significantly lower transaction costs. 

With the launch of the second phase of the Ethereum 2.0 upgrade, the network is going to be more appealing and sustainable for widespread use. In addition, studies predict that over 82% of institutional investors plan to increase exposure to digital assets by 2023. Given Ethereum’s efficiency and popularity, these big-money movers would add to the demand for Ether.

Don't Miss: Ethereum (ETH) Price Prediction

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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 decentralized financial infrastructure and blockchain protocol that introduces some unique concepts and theories to the market. The network leverages a native token, stablecoin protocol, oracle system, and smart contracts to bring users programmable money for the internet. 

The project offers multiple stablecoin options that provide instant settlement. To accomplish this task, Terra relies on a price-stability algorithm that actively alters the monetary supply of an asset to retain value. In this way, Terra can provide users with lower fees, more stability, seamless cross-border exchanges, and highly responsive financial assets.

The crypto community views Terra as a growing project that safeguards against bearish markets. For the uninitiated, the protocol is tasked with stabilizing Terra stablecoins, which are pegged to fiat currencies like the US dollar and Japanese yen.

Users can earn rewards via staking and vote in the protocol's future via governance. Terra’s self-adjusting monetary supply mechanisms are unique to the industry. As such, the project reflects the pioneering spirit of the decentralized sector. Today, Terra is popular amongst traders, and the network continues to see expanding usage globally. 

You can expect to hear more about this unique project as developers expand the number of blockchains the protocol operates on in the coming months. Investing in LUNA today is one way to become a part of the growing Terra ecosystem.

Read Also: Terra (LUNA) Price Prediction

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

Ripple (XRP) 

Ripple is more than just a cryptocurrency. It is a unique payment protocol designed to simplify global and cross-border payments. The network's native currency, XRP, is the digital token that enables the use of the network's services. In this manner, XRP acts as a service token and reflects the value shift in the Ripple network.

The price of XRP has seen a colossal rise over the past few years. This is because it helps banks and financial institutions carry out global money transactions instantly, without even considering exchange rates. Moreover, XRP has a faster transaction time as compared to other cryptocurrencies. The team is also handling the SEC lawsuit with aplomb, causing many to believe in a Ripple-positive outcome. It would be smart to invest in this crypto sooner rather than later when its price is likely to shoot up. 

Notably, XRP appears on an increasing number of global exchanges and has been embraced by some financial institutions. The company also insists it has a “growing pipeline” of businesses interested in using XRP in their payment flows. 

The increasing adoption of cryptocurrencies for payments will only draw more attention to the affordable, safe, and easy transactional capabilities of XRP. Naturally, this will impact its demand and, by extension, its value as the years go by. It also makes XRP a good investment with value over and above the usual crypto-related speculation.

Check Out: Ripple (XRP) Price Prediction

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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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