The best crypto to buy in 2023 is perhaps the only information you want to hear when it comes to crypto investments. In the recent past, cryptocurrency has been a hot topic as more and more investors opt to get into action. However, with thousands of coins, it can be quite challenging to determine which is the best crypto to invest in. In this article, we will revisit the best cryptocurrency to buy in 2023. The expectation at this point is that you already know what cryptocurrency is.
Related: What is cryptocurrency?
These are the best cryptos to buy now
1. Bitcoin (BTC)
This is the original yet well-known cryptocurrency. With a market capitalization of $445.5 billion, it’s considered the gold standard of all other cryptocurrencies. This coin was created in 2009 by Satoshi Nakamoto. All along the value of Bitcoin has been on the rise. For example, around 2016, you could buy bitcoin at $50. Today, in 2023, you need a minimum of $23,108 to buy one Bitcoin. This reflects a growth of over 4,500%. Investing in Bitcoin is safe: Firstly, BTC runs on blockchain. More so, the transactions are distributed across a network of computers for approval which normally entails solving cryptographic puzzles. Make you, Bitcoin is safe and secure – No fraudsters.
2. Ethereum (ETH)
Ethereum has a market cap of $193.9 billion as of 2023 making it the second most valuable cryptocurrency. As a decentralized platform, it’s used for building decentralized applications (dApps) as well as smart contracts. Apart from the fact that Ethereum runs on both cryptocurrency and blockchain platforms, it’s a favorite for program developers. This is because of Ethereum’s potential in supporting the creation of smart contracts and non-fungible tokens (NTFs). Without a doubt, like in the case of Bitcoin, the price of Ethereum has been increasing. In 2016, a single Ethereum coin was going for $11. However, the same goes for nothing less than $1,500, in 2023 – Again an increase of about 14,300%.
3. Binance Coin (BNB)
This stands out as one of the largest crypto exchanges all over the globe. As of 2023, Binance Coin is valued at over $60 billion market-wise. Binance coin has gone beyond being considered a mere trade facilitator and trading platform. For this, and given that it can be exchanged for other crypto forms, Binance Coin (BNB) is considered the best crypto to buy in 2023. In 2017, BNB’s price was $0.10. However, as of 2023, the Binance coin goes for $312 – A gain of 311,857%
Related: How to withdraw/deposit on Binance.
4. Cardano (ADA)
Cardano is more of a decentralized platform offering secure and sustainable infrastructure to support the development and execution of smart contracts as well as decentralized applications. With a market capitalization of over $40, Cardano (ADA) is among the best cryptos to buy in 2023. Although it came late to the crypto scene, Cardano is best known to have embraced the proof-of-stake validation. Additionally, Cardano also works like Ethereum thus enabling smart contracts. In the market, and growth-wise, Cardano has had modest growth – $0.02 in 2017, and $0.38 in 2023. This is an increase of 1800%.
5. Polkadot (DOT)
Polkadot allows for interoperability and scalability as it aims at providing a single network for all blockchains. It has a market capitalization of over $40 billion and has since been considered one of the best coins to buy now.
6. Dogecoin (DOGE)
DOGECoin is one of the most popular cryptocurrencies. Today, it has a market value of $12+ billion. Look at this scenario, in 2017 the price to own a single coin was $0.0002 but now stands at $0.09 meaning that it’s up by 46,00o+%. Of great importance to note is the fact that there is no limit pertaining to the number of DOGECOINS that can be created. This makes the currency appear susceptible to devaluation whenever there is a supply increase. However, this is not the case with other cryptocurrencies and Stablecoins.
Related: What are stablecoins?
7. Solana (SOL)
Solana is considered to be fast and secure. More importantly, it’s a scalable blockchain that supports decentralized applications and all digital assets. Developers and financial institutions hold high hopes that Solana can get to the top of the crypto world. This is due to Solana’s fast performance, low fixed costs and strong network stability. The same characteristics qualify it to the class of the best crypto to buy in 2023.
8. Chainlink (LINK)
With the help of Chain Link, a decentralized network, it is possible to automate intricate financial transactions as well as other procedures. It is regarded as one of the finest coins to buy in 2023 and has a market valuation of over $20 billion.
9. Uniswap (UNI)
The decentralized exchange Uniswap (UNI) enables users to trade cryptocurrencies without the requirement for a centralized body. It is regarded as one of the finest coins to buy in 2023 and has a market valuation of over $15 billion.
10. XRP
The startup Ripple developed the digital currency known as XRP to transform the way money is exchanged and received on a worldwide scale. The company is valued at more than $20 billion. Today, its considered the best cryptocurrency to invest in 2023.
Analytically, and in conclusion, there are plenty of crypto coins to buy in 2023. If you are considering making a crypto investment, it’s worth surveying these specific parameters; Market capitalization, the rate of adoption , and the overall growth potential in the crypto market. Notably, before investing, you can not afford to overlook in-depth research as well as financial advice.