Cryptocurrency investments have taken the financial world by storm, and if you're looking to get in on the action, you may be wondering which are the best cryptos to buy now. With the market constantly evolving and new cryptocurrencies emerging, it can be a daunting task to identify the right ones for your investment portfolio. In this article, we'll explore the top crypto investments for 2023, provide insights into how cryptocurrency works, offer tips on investing and reporting on taxes, and highlight other important factors to consider. So, whether you're a seasoned investor or a beginner in the crypto world, we've got you covered with all the information you need to make smart investment decisions.
Top Cryptocurrencies to Invest in Now
1. Bitcoin (BTC)
- Market capitalization: $594.1 billion
Bitcoin has gained significant recognition and popularity, with its price surging over time. In May 2016, one Bitcoin could be purchased for approximately $500. As of June 27, 2023, the price of a single Bitcoin reached around $30,603, signaling an impressive growth of 6,021%.
Related: How To Purchase Bitcoin
2. Ethereum (ETH)
- Market capitalization: $225.6 billion
Ethereum has experienced remarkable growth. From April 2016 to the end of June 2023, its price surged from around $11 to approximately $1,877, showcasing an astounding increase of 16,963%.
Related: How To Purchase Ethereum
3. Tether (USDT)
- Market capitalization: .2 billion
4. Binance Coin (BNB)
- Market capitalization: $37.2 billion
BNB's price in 2017 was merely $0.10. However, by late June 2023, its value had skyrocketed to around $239, delivering a staggering gain of 238,744%.
Related: How To Purchase Cryptocurrency
5. U.S. Dollar Coin (USDC)
- Market capitalization: $28.3 billion
6. XRP (XRP)
- Market capitalization: $25.2 billion
At the beginning of 2017, XRP was valued at $0.006. As of June 27, 2023, its price had reached $0.48, portraying an increase of 7,930%.
7. Cardano (ADA)
Arriving somewhat later in the crypto domain, Cardano (ADA) stands out due to its early adoption of proof-of-stake validation. This method expedites transaction time and decreases energy consumption, as opposed to the competitive problem-solving approach seen in platforms like Bitcoin. Cardano, similar to Ethereum, facilitates smart contracts and decentralized applications through its native coin, ADA.Cardano's ADA token has witnessed relatively modest growth compared to other major cryptocurrencies. In 2017, ADA's price was $0.02. As of June 27, 2023, its value stood at $0.28, indicating a 1,315% increase.
8. Dogecoin (DOGE)
Initially initiated as a playful venture in 2013, Dogecoin rapidly evolved into a prominent cryptocurrency thanks to its dedicated community and imaginative memes. Unlike numerous other cryptocurrencies, there is no maximum limit on the number of Dogecoins that can be created, which exposes the currency to potential devaluation with increasing supply.In 2017, Dogecoin was valued at $0.0002. By June 2023, its price had reached $0.07, representing an astounding surge of 32,540%.
9. TRON (TRX)
Founded in Singapore in 2017, TRON operates as a decentralized blockchain platform. By December 2021, it had transformed into a fully decentralized autonomous organization (DAO) with over 167 million accounts as of June 2023.At its launch in October 2017, TRON was valued at $0.0025. Less than five years later, its price had risen to $0.07, signifying a remarkable increase of 2,700% and establishing TRON as one of the world's fastest-growing cryptocurrencies.
10. Solana (SOL)
Designed to support decentralized finance (DeFi) applications, decentralized apps (DApps), and smart contracts, Solana operates on a distinctive hybrid proof-of-stake and proof-of-history mechanism, enabling fast and secure transaction processing. The platform's native token, SOL, empowers its operations.Since its launch in 2020, SOL's price started at $0.77. By late June 2023, its value had risen to approximately $16.56, showcasing a gain of 2,050%.
*Market capitalizations and pricing obtained from coinmarketcap.com, as of 1:31 p.m. UTC on June 27, 2023.
Understanding Cryptocurrencies
Cryptocurrency refers to a digital form of currency that exists solely in electronic format. It can be used for online transactions without the intermediation of traditional financial institutions, such as banks. Furthermore, cryptocurrencies can also serve as investment assets.
How Cryptocurrency Operates
Cryptocurrencies encompass various forms of digital money, typically based on blockchain technology. This technology facilitates most cryptocurrencies to function as "trustless" transaction mediums, eliminating the need for a central authority overseeing transactions on a particular cryptocurrency's blockchain.The world's first cryptocurrency, Bitcoin, was introduced in 2009 by the pseudonymous computer programmer Satoshi Nakamoto.
Why Do We Have Numerous Cryptocurrencies?
Cryptocurrency represents an emerging domain, with over 22,000 crypto projects in existence as of June 2023.
While some cryptocurrencies function as digital currencies, others are utilized for developing essential infrastructure. For instance, Ethereum and Solana serve as platforms upon which other cryptocurrencies are built, expanding the possibilities and the sheer number of cryptocurrencies available.
Investing in Cryptocurrency: How To
You can invest in cryptocurrencies through dedicated crypto exchanges like Coinbase, Kraken, or Gemini. Additionally, certain brokerages like WeBull and Robinhood also provide cryptocurrency purchase options.Reporting Cryptocurrency on Taxes
If you engage in buying and selling of cryptocurrency, it is crucial to pay attention to cryptocurrency tax regulations.Cryptocurrency is treated as a capital asset, akin to stocks, rather than cash. Consequently, if you sell cryptocurrency for a profit, you will be subject to capital gains taxes, even if you utilize the crypto for a purchase. Any excess value received compared to your initial investment will be taxable.
Top 8 Cryptocurrency Investments in 2023
These eight leading cryptocurrencies are worthy contenders for investment in 2023.Cryptocurrency
Price
Market Cap
Bitcoin
$26,952.34
$522.7 billion
Ethereum
$1,881.26
$226.12 billion
Binance Coin (BNB coin)
$305.85
$47.66 billion
Cardano
$0.3742
$13.05 billion
Polygon
$0.897
.32 billion
Terra (LUNA)
$0.8296
$231.31 million
Avalanche
$14.40
$4.95 billion
Chainlink
.38
$3.3 billion
Data accurate as of June 1, 2023.
Evaluating the Top Cryptocurrency Options
Perform a quick online search, and you'll come across numerous suggestions on how to invest in cryptocurrency. To determine the top eight selections, the following aspects were taken into account.
Duration
How long has the cryptocurrency been in existence? While new cryptocurrencies aren't immediately disqualified, having historical data for comparison allows you to assess a company's past performance.
Track Record
What has been the company's performance over the years? Price stability is an encouraging sign. Moreover, if the cryptocurrency is gaining momentum and increasing in value over time, that's even more positive.
Important to Note
Past performance doesn't guarantee future results. Changes can occur at any moment, causing an investment to perform better or worse than it has in the past.
Technology
How does the platform compare to others in terms of user-friendliness and security? The transaction speed should be the first thing to consider. The network should be capable of handling transaction traffic effortlessly.
Ensuring the security of your investment is also crucial. Most cryptocurrencies utilize blockchain technology, which makes all transactions transparent and easily traceable. However, blockchain technology doesn't necessarily make it more challenging for hackers to pilfer your cryptocurrency. Its purpose is to facilitate the tracking and potential recovery of your investment in case of fraud.
Adoption Rate
How many individuals are investing in the cryptocurrency you're contemplating? A high level of adoption indicates better liquidity and makes future trading, selling, or spending easier.
Other Factors to Consider When Investing in Crypto
Investing in cryptocurrency can be an exhilarating and potentially profitable endeavor. However, it's essential to approach it cautiously and have a clear understanding of the risks involved. Here are some important considerations to keep in mind before investing in crypto.
Risk Tolerance
As emphasized throughout this article, it is absolutely crucial to consider your risk tolerance when investing in cryptocurrency. Crypto markets are highly volatile, with prices fluctuating rapidly and unpredictably, often experiencing significant swings within a 24-hour period.
If you have a low-risk tolerance, you may want to consider investing in more stable assets with less potential for extreme price fluctuations. Keep in mind that losses are to be expected at some point in your crypto journey.
Budgeting
Another important factor to consider when investing in crypto is your budget. Crypto markets move swiftly, and it's crucial to respond to price changes promptly.
Investing an amount that exceeds what you can afford to lose can lead to significant financial stress and potential capital loss. We strongly recommend investing only what you can afford to lose without any adverse consequences, even in the event of a complete loss and failure to recover.
The Project
It's vital to conduct thorough research on the project behind the crypto you're contemplating investing in. What problem does the project aim to solve? What is its potential for success? What is the track record of the project team? These are all critical questions that should be addressed before making any investment, as mentioned earlier in the top section.
Adoption
Another essential aspect to consider when investing in crypto is the level of adoption the cryptocurrency has achieved. How widely is it used and accepted? Is it actively traded on reputable cryptocurrency exchanges? The level of adoption can provide valuable insight into the potential for future growth.
Security and Regulation
Lastly, it's crucial to consider the security and regulation of the cryptocurrency you're considering for investment. Crypto markets are vulnerable to scams and hacking attempts, so selecting a cryptocurrency with robust security measures is of utmost importance.
Moreover, regulations surrounding cryptocurrencies are continuously evolving. The US Securities and Exchange Commission has taken a more assertive stance in 2023 following the collapse of FTX. Binance.US and Coinbase are currently facing a lawsuit for alleged SEC rule breaches, which have had immediate and far-reaching consequences for the entire crypto market, significantly impacting price action. The news led to the withdrawal of over $1.5 billion from Binance alone, causing fear to spread throughout the market.
Around 60 tokens are now regarded as securities by the SEC, which is likely to significantly affect their price in the near future as investors steer clear due to potential legal ramifications.
The Optimal Cryptocurrency Investments for 2023
Our list of the best cryptocurrencies to invest in includes presale assets, low market cap altcoins, and prominent players:
The aforementioned projects were identified through comprehensive market research, considering factors such as their potential for growth, current market capitalization, and valuation compared to previous all-time highs.
These cryptocurrencies can be utilized by investors to construct a diversified crypto portfolio in preparation for the next bull run.
Discovering the Top Cryptocurrencies to Purchase
Still unsure about whether investing in cryptocurrency is a wise decision in 2023?
In this section, we will outline various methods that investors can employ when searching for the most favorable cryptocurrency to add to their portfolio.
Long-Term Potential
Firstly, it is prudent to consider the long-term potential of a crypto project.
For instance, Bitcoin is expected to maintain its position as a store of value, while Ethereum serves as the go-to smart contract blockchain for ERC-20 tokens and metaverse coins.
Consequently, both Bitcoin and Ethereum are anticipated to have promising long-term potential. Similarly, numerous other established crypto projects have a bright future ahead.
For example, XRP has secured partnerships with over 200 banks, and multiple global brands have purchased land within the Decentraland metaverse.
Cryptocurrency Presales
Cryptocurrency presales involve distributing a portion of a project's tokens to early investors on a first-come, first-serve basis. By investing in a presale, investors can acquire coins before they are listed on exchanges and become available for public trading.
If you're wondering how much to invest in cryptocurrencies, it's worth noting that many investors missed the opportunity to buy Bitcoin below $100 or Ethereum below $1. However, there are still plenty of other opportunities to pursue similar gains.
One effective approach is to diligently search for promising presale projects. For instance, Tamadoge was available for $0.01 during its initial presale stage in late 2022, before reaching a peak of $0.194 after listing on exchanges, resulting in nearly 2,000% gains from the initial price.
Presales often offer significant growth potential as they sell tokens at a price lower than their true market value to fund project development.
Utility
Cryptocurrency projects with high utility are likely to be more sustainable in the long run, as investors can use the tokens within the ecosystem to generate real value.
So, when searching for one of the top 10 cryptocurrencies to invest in, it's wise to focus on projects with tangible real-world use cases.
For example, the LHINU token enables users to vote on socially relevant matters and earn rewards.
Another illustration of utility is Ethereum itself, which serves as the required payment currency for performing transactions. Considering the multitude of altcoins built on top of Ethereum, the demand for ETH is substantial.
Market Capitalization
Investors should have a solid understanding of how market capitalization works for a crypto asset. This knowledge enables them to assess the potential upside.
When Bitcoin's price reached its peak in late 2021, its market capitalization surpassed $1 trillion. This suggests that Bitcoin's potential for further growth may be limited, as it has already experienced significant levels of expansion.
On the other hand, smaller-cap projects like trending meme coins have ample room for growth if they manage to attract mainstream attention.
Roadmap Targets
Another method for finding the best cryptocurrency to buy now involves examining the roadmap targets of a project. This metric is particularly valuable when evaluating newer projects.
Newer crypto assets are often at the early stages of their development journey, whereas more established projects require an assessment of whether they are progressing as outlined in their existing roadmap.
Competition
It's important to analyze the competition that a particular crypto asset faces. With over 20,000 tokens listed on CoinMarketCap, and more awaiting their introduction, the market is saturated.
For instance, several "Ethereum Killers" claim to offer faster, cheaper, and more scalable alternatives to Ethereum. However, Ethereum is close to completing its Proof of Stake (PoS) upgrade, which could potentially render other smart contract networks obsolete.
Trading Signals and Trading Bots
Some investors prefer to incorporate the best crypto signals into their trading strategy to eliminate emotions from the investment process. Additionally, we have reviewed the best AI crypto trading bots for those interested in executing trades 24/7.
Step-by-Step Guide: How to Purchase $WSM Tokens
Here, we provide a brief overview of the steps involved in buying $WSM tokens during the presale:
- Create a Crypto Wallet: To participate in the Wall Street Memes presale, you need to create a wallet with a trusted provider like MetaMask.
- Acquire ETH/USDT/BNB: $WSM is an ERC-based token, which means you will need either ETH or USDT to make purchases. Alternatively, you can exchange tokens using BNB coins. These assets can be obtained from reputable sources like eToro. Additionally, you will need some extra ETH to cover gas fees.
- Connect Your Wallet & Buy $WSM: Proceed to the Wall Street Memes website, connect your crypto wallet, determine the quantity of $WSM tokens you wish to purchase, and complete the transaction.
- Claim Your $WSM Tokens: After the presale concludes, you will be able to claim your $WSM tokens from the website.
Understanding Cryptocurrency
Cryptocurrency refers to a form of digital money that grants users control over their finances. It is not affiliated with a central bank or government and enables secure and anonymous transactions without the need for intermediaries.
Cryptocurrency operates using advanced encryption technologies, which allow it to exist within its own network of computers. These computers collaborate to verify each transaction, ensuring enhanced security and anonymity. As it exists solely in digital form, no physical currency is exchanged, enabling cryptocurrency to be used for purchases wherever it is accepted.
As digital payment methods become increasingly prevalent, cryptocurrency has the potential to become the new standard in our ever-evolving global economy.
Top Web 3.0 Cryptocurrencies to Buy
A new generation of cryptocurrencies, known as web3 cryptos, is devoted to realizing the concept of a decentralized web3. These cryptocurrencies combine blockchain technology with smart contracts to empower users with control over their data and facilitate transactions without intermediaries. Web3 tokens offer unique use cases by leveraging decentralized protocols.
Below is a list of web3 crypto coins that hold significant potential for 2023.
Filecoin
What is Filecoin?
Filecoin (FIL) is a blockchain project that aims to create a decentralized storage network.
Designed to seamlessly integrate with Web3 and DeFi protocols, Filecoin establishes fully decentralized and permanent data storage.
The network is driven by a diverse range of storage providers and developers, supporting organizations and projects in finding secure, affordable, and decentralized data storage solutions.
How does Filecoin work?
Filecoin's blockchain is built on the underlying technology of IPFS, its parent project. IPFS is a decentralized peer-to-peer network for file storage that allows users to run their own nodes and store files anonymously.
In addition, network users can earn more tokens and receive transaction fee discounts by providing additional storage to the Filecoin network.
Reasons to consider buying Filecoin
Filecoin has the potential to revolutionize decentralized digital storage, catering to the needs of millions seeking such solutions. It solves the challenge of incentivizing individual IPFS nodes to share their unused storage capacity. By leveraging the transparency and open market provided by blockchain technology, Filecoin strongly differentiates itself from centralized organizations.
The Graph (GRT)
What is The Graph?
The Graph is an open-source software used to collect, process, and store data from multiple blockchain applications to facilitate easy retrieval of information.
The Graph aims to assist developers in utilizing relevant data to enhance the functionality of their decentralized applications.
How does The Graph work?
To allow any application to query its protocol and receive instantaneous responses, The Graph collects and analyzes blockchain data before storing it in multiple indexes called Subgraphs.
Graph users, known as indexers and delegators, assist in processing and distributing the collected data to end users and applications.
The Graph's network leverages its native cryptocurrency, GRT, to ensure data security. Users, including delegators, curators, and indexers, must hold and stake GRT to fulfill their responsibilities and receive compensation from the network.
Reasons to consider buying GRT (The Graph token)
The Graph has become a crucial component of the DeFi infrastructure, with popular Ethereum dApps like Aave, Curve, and Uniswap already employing this decentralized blockchain network.
Oryen Network (ORY)
What is Oryen Network?
Oryen Network introduces a unique auto-staking feature called Oryen Autostaking Technic (OAT). OAT offers practical opportunities for investors aiming to enhance the value of their cryptocurrency holdings. It enables automated compounding of rewards on an hourly basis.
How does Oryen Network work?
With OAT, rewards are automatically compounded on an hourly basis. In addition, Oryen has developed an RFV wallet that facilitates yield payouts even in challenging market conditions.
Reasons to consider buying ORY
Recently, Oryen experienced an impressive 320% price increase. Oryen is expected to continue growing and becoming increasingly profitable as more individuals become aware of the network and its rich features. Ultimately, Oryen Network aims to establish ORY as a widely accepted and reliable digital currency that can be utilized across various platforms and blockchain networks.
The enthusiasm expressed by the Reddit community is justified, as ORY has demonstrated a solid annual percentage yield (APY) of 90%.
The Hideaways
What are The Hideaways?
The Hideaways is the world's first luxury real estate investment platform that allows individuals to fund a professionally managed portfolio of opulent homes worldwide.
How do The Hideaways work?
The Hideaways offers exclusive real-world ownership of fractionalized NFTs, which are sold in exchange for HDWY tokens. These NFTs are backed by high-end real estate properties. To ensure complete transparency, The Hideaways has partnered with reputable real estate and accounting firms.
Reasons to consider buying HDWY
With a projected growth of 20,000% by the end of 2023, The Hideaways has the potential to be one of the cryptocurrency market's most lucrative investments in the next bull run.
Additionally, the project's developers have implemented a 999-year liquidity lock for HDWY, providing reassurance to investors during volatile market conditions.
Ethereum Name Service (ENS)
What is ENS?
The Ethereum Name Service (ENS) enables users to create a single pseudonym that can be used for all their public addresses and decentralized websites. This simplifies the world of cryptocurrency and decentralized finance, replacing lengthy and complex strings with a single ENS domain, such as "Madison.eth," capable of receiving various cryptocurrencies and NFTs.
How does ENS work?
ENS operates on two Ethereum smart contracts: the ENS registry and the resolver. The registry stores essential information about each registered domain, while the resolver converts domain names into machine-readable addresses, and vice versa.
Reasons to consider buying ENS
In essence, Ethereum Name Service serves as a web3 replacement for the traditional Domain Name Service (DNS). By offering a decentralized alternative to the centralized DNS utilized by the internet, ENS eliminates the risks associated with a single point of failure.
MetaBlaze (MBLZ)
What is MetaBlaze?
MetaBlaze is a blockchain-based gaming startup that combines elements of GameFi and DeFi to create a productive ecosystem powered by popular web3 technologies. Players can immerse themselves in an epic story, engaging in player-versus-player battles, and enjoying top-notch 3D graphics and exclusive content.
How does MetaBlaze work?
Players embark on exciting games that unfold within a captivating story. What sets this project apart is the ability to earn cryptocurrencies like Solana, Binance Coin, and Ethereum while playing.
Reasons to consider buying MBLZ
Renowned blockchain analytics firm CertiK listed MetaBlaze as one of the "Top 10 Most Watched" cryptocurrency projects, and it was recognized as the best cryptocurrency presale of 2022. MetaBlaze is poised to usher in the third generation of cryptocurrency gaming. The company has the potential to create a crypto-gaming ecosystem that could serve as a guiding model for the industry.
Lucky Block (LBLOCK)
What is Lucky Block?
Lucky Block is an online lottery platform based on blockchain technology, aiming to offer transparent, fair, and secure gambling experiences. Despite being relatively young, Lucky Block has gained a significant following due to its compelling challenges and games.
How does Lucky Block work?
The platform offers a comprehensive range of popular casino games, including slots, poker, live casino, and table games. Additionally, customers can place bets on 35 different sports, including 15 different eSport options such as League of Legends, Counter-Strike, and Arena of Valor.
Reasons to consider buying LBLOCK
The substantial market value of the online gaming sector, combined with Lucky Block's unique blockchain-based features, provides LBLOCK tokens with considerable growth potential. As the platform attracts more users, its value is expected to soar.
Crypto SNACK
What is Crypto SNACK?
The SNACK ecosystem consists of three distinct brands: Snack Token, Green Snack, and Snack Gaming. Crypto SNACK (SNACK) is the first specialized token on the Binance Smart Chain dedicated to iGaming, eGaming, and eCommerce, with a specific focus on the gaming sector.
How does Crypto SNACK work?
Crypto SNACK strives to bridge the gap between the online and offline worlds by granting access to DeFi projects and dApps. Token holders can diversify their cryptocurrency assets through easy cross-chain token swaps.
Reasons to consider buying Crypto SNACK
The utility token SNACK brings together the community and transparency, merging the online and offline worlds. The team behind this project firmly believes that Crypto SNACK will become a widely adopted cryptocurrency for worldwide iGaming platforms.
Top DeFi Cryptocurrency Picks
The cryptocurrency movement has seen the rise of Decentralized Finance (DeFi) projects, aiming to bring traditional financial instruments to the blockchain. Many believe that DeFi will revolutionize the world of finance, making borrowing and lending accessible to anyone with a digital wallet.The use of a public ledger ensures transparency and removes the need for intermediaries in financial transactions.
Here are the most promising DeFi tokens for 2023.
DeFi Coin (DEFC)
What is DEFC?
DEFC is the native currency of DeFi Swap, a decentralized exchange that offers a wide range of cryptocurrency-related products and functions. Introduced in 2021, DEFC operates on the Binance Smart Chain.
How does DEFC work?
DEFC utilizes the Binance Smart Chain and supports the protocol to achieve its decentralized finance goals.
Reasons to consider DEFC
DEFC experienced a significant 40x price increase in 2021, from $0.1 to $4. Many crypto users believe that DEFC has the potential to be the next breakout DeFi coin.
Uniswap (UNI)
What is Uniswap?
Uniswap is a decentralized cryptocurrency exchange and one of the largest in the market. It operates on smart contracts known as liquidity pools, supported by the Ethereum blockchain.
How does Uniswap work?
Uniswap operates differently from traditional exchanges, as it does not rely on an order book. It stands out with its use of the Constant Product Market Maker Model.
Reasons to consider UNI
Uniswap has gained popularity among cryptocurrency and DeFi enthusiasts due to its user-centric approach and continuous improvements.
Terra LUNA Classic (LUNC)
What is LUNA Classic?
LUNC is the native token of the original Terra LUNA blockchain.
How does LUNA Classic work?
LUNC operates on the Terra Classic blockchain, a decentralized and open-source technology that supports stablecoins. These stablecoins enable easy international transfers while maintaining price stability. LUNC plays a crucial role in supporting stablecoins within the Terra ecosystem.
Reasons to consider LUNC
LUNC is currently surrounded by uncertainty, but it has ambitious goals. Its success in 2023 could set a precedent for the comeback and growth of failed cryptocurrencies.
Yearn.finance
What is Yearn.finance?
Yearn.finance offers a range of decentralized finance solutions, including lending aggregation, yield generation, and insurance services.
How does Yearn.finance work?
Yearn.finance primarily generates income through yield farming, where users lock up their crypto funds in DeFi protocols to earn interest. The platform is governed by its native token, YFI.
Reasons to consider YFI
Yearn.finance aims to simplify DeFi investments and yield farming, making them more accessible to users. The platform constantly introduces new features to maintain its long-term value.
Top Layer 2 Cryptocurrencies
Layer 2 plays a crucial role in cryptocurrency and blockchain technology as the second layer of the protocol running on top of the main blockchain network.What is Layer 2?
Decentralization, security, and scalability, known as the "blockchain trilemma," cannot be fully achieved simultaneously. Ethereum, for example, can only effectively prioritize two out of the three properties. That's why additional scaling solutions are needed.
Layer 2 solutions, such as sidechains, payment channels, and lightning networks, enhance scaling and transaction speed. They enable crypto networks to handle hundreds or even thousands of transactions per second without sacrificing security or decentralization.
Polygon (MATIC)
What is Polygon?
Polygon, previously known as Matic Network, is an Ethereum layer 2 scaling solution. It aims to increase speed, reduce costs, and simplify transactions on blockchain networks.
How does Polygon work?
Polygon consists of multiple sidechains that provide efficient scaling for the Ethereum blockchain, unclogging the main platform.
Reasons to consider MATIC
If you believe in layer 2 solutions for scaling Ethereum, investing in Polygon's native token, MATIC, might be worth considering. Check out our Matic price prediction.
Optimism (OP)
What is Optimism?
Optimism is another layer 2 scaling solution for Ethereum. It focuses on reducing gas fees and transaction times on the Ethereum blockchain.
How does Optimism work?
Optimism processes transactions outside the Ethereum blockchain while leveraging its infrastructure. It maintains a connection with Ethereum's layer 1 to ensure security and decentralization. Layer 1 remains responsible for security, decentralization, and data availability, while layer 2 focuses on scaling.
Reasons to consider OP
Optimism has the support of a strong team, a dedicated community, and various investors. Experts believe that OP could dominate layer 2 scaling for Ethereum sooner than expected if another bull run occurs.
Starkware (STRK)
What is Starkware?
Starkware, an Israel-based company, utilizes zk-STARKs for computational security to create L2 blockchains for Ethereum. Its solutions, StarkEx and StarkNet, aim to enhance blockchain scalability and privacy.
How does Starkware work?
Starkware's unique instrument, zk-STARKs, enables parties to prove possession of specific information without disclosing that information itself.
Reasons to consider STRK
Starkware's innovative technology and impressive team and advisors, including Vitalik Buterin, have garnered significant attention.
Loopring (LRC)
What is Loopring?
Loopring empowers developers to build non-custodial marketplaces on the Ethereum blockchain. Its goal is to provide the tools necessary for order book-based exchanges.
How does Loopring work?
Loopring uses zero-knowledge rollups to enable exchanges on top of Ethereum, avoiding slow transaction speeds and high fees. It can process up to 3,000 transactions per second and charges a transaction fee of 0.25%.
Reasons to consider Loopring LRC
LRC has a proven track record and a solid market cap. Check out our LRC price prediction.
Metaverse and NFT Crypto Projects
Metaverse and non-fungible tokens (NFTs) have been gaining traction in the crypto world. Metaverse projects create virtual universes where users can create, buy, and sell content. NFTs are digital assets with immutable ownership records on blockchains.NFTs and metaverses offer new possibilities for interacting with virtual worlds by introducing real-world incentives such as tradable assets and unique experiences.
Crypto projects embracing metaverses and NFTs drive innovation in the industry, making them worth watching.
Quint (QUINT)
What is Quint?
Quint aims to bridge the gap between the real world and the metaverse.
How does Quint work?
Quint's decentralized ecosystem provides an NFT marketplace, DeFi services, and more. It offers tangible returns through "Super-staking Pools," awarding luxurious prizes, lifestyle benefits, and real-world rewards.
Reasons to consider QUINT
QUINT, the flagship token of the Quint Ecosystem, introduces unique real-world incentives and tangible assets.
The Sandbox (SAND)
What is The Sandbox?
The Sandbox is a metaverse and gaming ecosystem on the Ethereum platform. It enables creators to produce, distribute, and trade in-world assets within a decentralized virtual realm.
How does The Sandbox work?
The Sandbox revolutionizes the gaming industry by rewarding creators for their user-generated content. In this metaverse, users fully own the creations they make.
Reasons to consider The Sandbox
The Sandbox and its partners are driving a new gaming industry, empowering users and creators by providing value for their contributions.
Metacade (MCADE)
What is Metacade?
Metacade aims to become the leading on-chain arcade, offering casual and competitive gaming experiences. Players can earn MCADE tokens by advancing in each game.
How does Metacade work?
Metacade serves as the hub for GameFi, providing access to various play-to-earn (P2E) games. The platform encourages community involvement through the Create2Earn and Compete2Earn concepts.
Reasons to consider MCADE
The MCADE token presale has attracted attention in the GameFi market, offering potential rewards for early investors in 2023.
Enjin (ENJ)
What is Enjin?
Enjin enables developers to build and manage digital assets on the Ethereum network. Each asset is customizable and documented in a smart contract, incorporating the benefits of cryptocurrencies.
How does Enjin work?
Enjin focuses on managing and storing virtual items for video games, verifying ownership through blockchain technology.
Reasons to consider Enjin
Enjin brings real-world liquidity to in-game items, opening new possibilities for blockchain and cryptocurrency-driven gaming systems.
ApeCoin (APE)
What is ApeCoin?
ApeCoin (APE) draws inspiration from the Bored Ape Yacht Club NFT collection. It aims to support the creation of the decentralized Web3, operating on the Ethereum blockchain as an ERC-20 token.
How does ApeCoin work?
APE serves as a utility token in Web3 projects, including games and metaverses, and also plays a role in network governance.
Reasons to consider ApeCoin
The long-term success of ApeCoin depends on its acceptance in the real world. With increasing usage in Web3 projects, APE could thrive alongside game developers like Animoca Brands and NWayPlay.
Decentraland (MANA)
What is Decentraland?
Decentraland is an Ethereum-based metaverse where users can socialize, play games, trade collectibles, and own virtual land.
How does Decentraland work?
Decentraland operates using MANA, an ERC-20 token that serves as the native currency. Users can purchase virtual land, also known as LAND, within the Decentraland metaverse.
Reasons to consider MANA
Decentraland's technical capabilities and uniqueness contribute to its value, alongside its tokens, LAND and MANA.
The Top Cryptocurrencies You Can Purchase for Less Than $1
There is a wide variety of affordable cryptocurrencies available, but not all of them are worth investing in. Let's examine the ones that will be the most advantageous additions to your cryptocurrency portfolio.
XRP
What Exactly is XRP?
XRP is an extremely popular cryptocurrency with a large market cap. Despite its affordable price, it is a highly promising investment opportunity with a proven track record.
How Does XRP Function?
XRP serves as the native cryptocurrency of the XRP Ledger, which is a blockchain known for being efficient, scalable, and sustainable. It offers users the benefits of low transaction costs, high transaction speed, and environmental sustainability.
Image Source: @stedas
In addition to its transaction capabilities, the XRP Ledger also provides an exceptional platform for the development of crypto projects.
Here are some of the notable features that XRP offers:
- Effortless cross-border payments
- A high-performance decentralized exchange
- Secure and swift micropayments
- The ability to represent all cryptocurrencies (excluding XRP) and non-crypto assets as tokens on the XRP Ledger
Reasons why you should consider investing in XRP
XRP has consistently maintained its position within the top 10 cryptocurrencies by market cap for several years. It remains popular among both institutional and retail investors, with a dedicated and robust community.
Despite XRP's more subdued reputation compared to other cryptocurrencies that receive endorsements from individuals like Elon Musk, it still possesses significant potential for growth.
XRP is often regarded as a potential competitor to SWIFT, the global payment system. If XRP manages to establish itself as a decentralized payment system on a global scale, it is likely that the price of XRP will skyrocket.
Stellar (XLM)
What is Stellar?
Stellar, which originated from a hard fork of XRP, has been facilitating blockchain services since 2014. It operates as an open network, enabling global transactions and providing a more efficient means of storing value.
How Does Stellar Operate?
This cryptocurrency's blockchain is renowned for its impressive transaction speed. Its hybrid protocol significantly reduces verification time for both transactions and smart contracts.
Comparison between Ethereum and Stellar
Ethereum | Stellar
---------------------------------|---------
Transaction confirmation time | Up to 5 minutes | 3-5 seconds
Average fees | Varies, around $20 | 0.00001 XLM
Transactions per second | 10-15 | 3000
What sets Stellar apart from other blockchain projects is its unique transaction fee structure. Regardless of the transaction size, every transaction costs exactly 0.00001 XLM, making Stellar transactions incredibly inexpensive.
Reasons why you should consider investing in Stellar
As the cryptocurrency market becomes more mainstream, there is increasing demand for cost-effective transactions. With its solid technological foundation and established reputation, Stellar is well-positioned to capitalize on this need. XLM's price responds positively to market fluctuations, making it a promising investment opportunity.
With its numerous partnerships with large corporations and financial institutions, Stellar has the potential to gain even more popularity. As a result, the price of XLM could significantly increase.
Cronos (CRO)
What is Cronos?
Formerly known as the Crypto.com Coin or Crypto.org Coin, CRO is the native token of the Cronos Chain. The Cronos Chain functions as an open-source blockchain developed by Crypto.com, serving as one of the company's many initiatives to promote cryptocurrency and mass adoption.
How Does Cronos Operate?
The Cronos Chain is compatible with Ethereum and the Ethereum Virtual Machine (EVM), enabling it to support Ethereum-based decentralized applications (dApps). Cronos incentivizes crypto creators to develop dApps and decentralized finance solutions on its platform. Furthermore, Cronos has interoperability with the Cosmos ecosystem.
Cronos is a thriving system with expanding influence in the GameFi and metaverse sectors.
Snapshot of several projects within the Cronos ecosystem taken on 06/02/22. Source: Cronos News
Reasons why you should consider investing in Cronos
CRO can be staked, allowing you to earn passive income from your investment.
Cronos rebranded itself due to its remarkable growth, which speaks volumes about its value. Cronos demonstrates a commitment to its ambitious roadmap, providing confidence regarding the project's longevity and the potential for CRO's value to increase.
Moreover, Cronos is strongly backed by Crypto.com, a major cryptocurrency platform and company. This backing provides Cronos with more stability than the majority of cryptocurrencies in the market. If you have confidence in this project, it may be worth investing in.
VeChain (VET)
What is VeChain?
VeChain is a leading cryptocurrency specializing in supply chain management. Its purpose is to enhance processes such as verifying product safety, identifying counterfeit goods, and tracking packages throughout the supply chain.
VET has experienced some challenges in the recent crypto bear market but has managed to maintain its position in the top 40 cryptocurrencies based on market capitalization.
How Does VeChain Work?
VeChain assigns unique identifiers to each product within its system. These identifiers are stored on both the blockchain and the product itself through QR codes or other tags. This enables the tracking of products to ensure quality and compliance along their journey.
VeChain employs a dual-token system, with VET serving as a means of storing and transferring value. VET is also used to generate the second utility token, VTHO.
VeChain has significantly improved transparency within supply chain management, gaining recognition through its numerous partnerships.
An overview of some of VeChain’s partners in various industries. Source: Zwijberg
Reasons why you should consider investing in VeChain
The field of supply chain management will remain relevant for an extended period, creating a continuous need for projects that address its challenges. VeChain has effectively solved these issues and has established a strong reputation. Therefore, if you are seeking crypto projects with a clear purpose and successful execution, VET is an excellent choice for investment.
Hedera (HBAR)
What is Hedera?
Hedera is a sustainable, enterprise-grade network that enables the creation of powerful decentralized applications (dApps). It aims to address the issues of instability and slow transactions often associated with other crypto projects.
Despite never surpassing the $1 mark, Hedera remains one of the top cryptocurrencies globally.
How Does Hedera Work?
Hedera differs from traditional blockchain systems in that it is built on the innovative Hashgraph distributed ledger technology. This design enables Hedera to be highly cost-effective, scalable, and faster than many other cryptocurrencies. The average transaction fee is approximately $0.0001, and the network can handle up to 10,000 transactions per second.
Source: Colan Infotech
HBAR serves as the native token of the platform, powering various network elements such as smart contracts and file storage. It can also be staked to enhance the security of the Hedera ecosystem.
Additionally, Hedera offers essential services such as minting and configuring non-fungible and fungible tokens, smart contract tools, decentralized file storage, and more.
Reasons why you should consider investing in Hedera
Hedera is an exciting project with significant potential. It outperforms its competitors in various aspects and has already established itself as a reputable brand.
Experts anticipate positive price dynamics for HBAR in the future. Its unique features suggest that this cryptocurrency could occupy a distinct niche, making it a valuable investment.
The Best Cryptocurrencies Under $5
A cryptocurrency doesn't need to have a high price to be a lucrative investment. Some of the most well-known digital assets, such as Dogecoin, have never surpassed $1. Here are the best low-cost crypto assets available for less than $5.
Basic Attention Token (BAT)
What is Basic Attention Token?
BAT, launched in May 2017, is a well-established cryptocurrency in the digital advertising industry. Despite being a penny cryptocurrency, BAT ranks among the top 100 cryptocurrencies by market cap. Its primary focus is blockchain-based digital advertising.
How Does Basic Attention Token Operate?
BAT operates on the Ethereum network and powers an innovative digital advertising platform that utilizes blockchain technology. BAT aims to strike a balance between providing better returns for advertisers and fair rewards for users' attention and time spent.
BAT is closely tied to the Brave Browser, which allows users to earn BAT tokens by viewing ads. These tokens can be freely exchanged among network participants.
Brave Browser
Unlike conventional ads, Brave Browser's ads prioritize user privacy, aligning with the values commonly upheld in the crypto industry.
Reasons why you should consider investing in Basic Attention Token
Basic Attention Token enjoys a solid reputation, serves a clear purpose, and possesses an active community and a talented team. These factors typically indicate the potential for success in the cryptocurrency market. BAT performs well in terms of price and market cap and provides a product that effectively addresses long-standing issues within the digital advertising sphere.
If you believe in this project, BAT could be the best cryptocurrency to invest in. However, thorough research is vital before purchasing BAT on crypto exchanges.
Theta Network (THETA)
What is Theta Network?
Theta Network, another top 50 cryptocurrency, aims to revolutionize the web3 landscape. The project benefits from the guidance of well-known figures in the digital industry, including Steve Chen, co-founder of YouTube.
Theta serves as a blockchain-based video streaming platform that seeks to improve the industry's infrastructure and reduce costs. It aims to enhance the streaming experience for content creators and viewers alike.
How Does Theta Network Operate?
The primary goal of Theta Network is to decentralize video streaming and data delivery, resulting in greater efficiency and decreased costs. The project utilizes its own blockchain and two tokens: THETA, the native token responsible for governance tasks, and TFUEL, which powers the platform and its economy.
Theta allows streamers and viewers to earn TFUEL tokens for various activities on the platform, making streaming more financially rewarding and attractive.
By leveraging thousands of nodes and peer-to-peer networks, Theta Network achieves cost reduction while ensuring platform security.
Reasons why you should consider investing in Theta Network
Theta Network represents an innovative blockchain platform supported by industry giants and a team of experts with previous experience in mainstream streaming services. Moreover, the project's objectives extend beyond decentralized streaming to include the creation of a launchpad for dApps.
THETA token plays a critical role within the Theta Network ecosystem and serves as a reliable cryptocurrency in its own right. As long as the project team continues to demonstrate innovation, THETA will likely remain a strong digital asset worth acquiring on crypto exchanges.
Cardano (ADA)
What is Cardano?
Cardano (ADA) aims to create fair and transparent communities worldwide, making it a prominent name in the crypto market.
How Does Cardano Function?
In 2021, Cardano underwent a hard fork, allowing for smart-contract functionality. The project team utilizes a scientific and methodical approach to develop new technologies and expand the platform's capabilities continually.
Cardano pursues several objectives, including:
- Creating a secure voting system for token holders
- Applying mathematics to enhance blockchain security
- Developing an infinitely scalable consensus mechanism
These goals are achieved through Cardano's unique consensus mechanism known as Ouroboros. This proof-of-stake protocol achieves both exceptional mathematical security and efficient ADA transactions.
Reasons why you should consider investing in Cardano
ADA has demonstrated impressive price growth and has consistently ranked among the top 10 cryptocurrencies by market capitalization. It possesses significant potential and could be considered the best cryptocurrency to invest in.
Cardano's future value hinges on the adoption of blockchain technology and the partnerships it establishes in the years to come.
Cardano's roadmap. Source: Cardians
The project enjoys robust support and has engaged well-known experts in cryptography, engineering, and blockchain technology to conduct scientific research.
Unlike many other projects in the cryptocurrency space, Cardano provides tangible real-world utility and fulfills its commitment to creating a better future. For example, it is utilized in agricultural supply chains to combat counterfeit goods. Additionally, Cardano is relatively eco-friendly due to its utilization of the proof-of-stake consensus mechanism.
Considering these factors, ADA is an attractive investment opportunity for both short-term and long-term investments.
Polygon (MATIC)
What is Polygon?
Polygon is the first user-friendly platform for Ethereum (ETH) scaling and infrastructure development. In simple terms, Polygon enables the Ethereum blockchain to function as a fully-fledged multi-chain network similar to Polkadot.
How Does Polygon Operate?
The Polygon network connects Ethereum-based projects, allowing for their individual scalability, sovereignty, and flexibility while maintaining security. Polygon utilizes a proof-of-stake consensus mechanism that enables the staking of its token, MATIC.
Polygon facilitates communication between Ethereum and other blockchains and facilitates the compatibility of existing blockchains with Ethereum.
An overview of Polygon. Source: Bitpanda
MATIC, an ERC-20 token, functions as the native token of the Polygon blockchain. It secures the platform, governs its functionality, and serves as a payment method for transaction fees.
Reasons why you should consider investing in Polygon
In addition to its considerable value and integration with the Ethereum network, Polygon benefits from support from two prominent crypto industry giants: Coinbase and Binance.
Considering Ethereum's prominent position within the cryptocurrency market, Polygon's connection to it offers significant advantages. As cryptocurrencies become increasingly mainstream, multi-chain functionality will become more crucial, making Polygon a platform with substantial potential.
Fantom (FTM)
What is Fantom?
Fantom, a top-100 cryptocurrency, serves as an open-source permissionless smart contract platform for decentralized applications (dApps) and digital assets. It can be seen as a competitor to Ethereum.
How Does Fantom Function?
To support the creation and operation of decentralized applications, Fantom employs its aBFT consensus protocol called Lachesis. This protocol ensures scalability, security, and rapid transaction confirmation. Key features include:
- Leaderless
- Byzantine Fault-Tolerant
- Asynchronous
Fantom upholds the principles of decentralization and democratization. Transactions on the Fantom network are confirmed within 1-2 seconds, eliminating the need for lengthy block confirmations.
FTM, the network's utility token, serves various purposes, including governance, payments, fees, and staking for enhanced chain security.
Reasons why you should consider investing in Fantom
FTM is an affordable cryptocurrency that can easily fit into many investment portfolios. Although the project may initially appear similar to other platforms, it has successfully carved out its own niche and hosts numerous dApps. Furthermore, Fantom's compatibility with the Ethereum Virtual Machine (EVM) allows for the seamless porting of Ethereum-based dApps to the Fantom platform.
Overall, Fantom represents a promising penny cryptocurrency that can deliver substantial returns. It is issued as both an ERC-20 and BEP-20 token, which can be easily acquired on major centralized and decentralized cryptocurrency exchanges.
Discovering the Next Revolutionary Cryptocurrency
Freshly minted cryptocurrencies flood the crypto market every passing day. With countless projects in existence, even those ranked below the 1000 mark in terms of market cap manage to generate profits for crypto investors.
The cryptocurrency market, known for its capricious nature, offers no guarantees when it comes to identifying the next breakthrough coin or token. However, there are indicators to watch out for.
Crypto Price, Volume, and Market Cap
Between the two, the latter factor takes precedence. As proven by XRP, a cryptocurrency can still wield influence even if it possesses a value lower than $1. The story told by volume, particularly daily trading volume, is slightly different. It not only reveals the number of transactions carried out with a given asset, but also sheds light on the lasting interest in a specific cryptocurrency over time.
Nevertheless, keep in mind that a high daily volume can sometimes be attributed to the same wallets incessantly trading crypto coins or tokens back and forth - or exchanges between various wallets owned by the same individuals. The latter scenario is especially difficult to uncover. In an attempt to unravel the truth, turning to social media and digital communities can provide insight into how many genuine users are actively discussing the project in question.
When selecting an investment asset to add to one's crypto wallet, the market capitalization of the cryptocurrency and its popularity among both experts and crypto newcomers hold significant weight.
Prior Performance
Paying heed to an asset's previous performance is crucial. It is advisable to invest in a project that has predominantly exhibited positive growth dynamics over the past six months or longer. This suggests a degree of stability and captivates bullish investors.
During a bear market, it is important to examine how the asset's crypto price has fared in the past. If it has remained stagnant while the rest of the crypto market embarked on rallies, it could serve as a worrisome sign.
Potential for Adoption
The concept of "adoption" in the realm of crypto assets has evolved beyond widespread usage as a general payment method. Nowadays, it encompasses practical applications such as NFTs or serving as payment mediums in blockchain-based ventures.
In general, it is preferable to invest in a project that holds fundamental market value and possesses clear prospects. It should offer solutions to pressing challenges within a specific crypto ecosystem or bring forth innovative technologies or mechanisms.
Market Climate
For novice cryptocurrency investors, staying abreast of the latest crypto news through reading, observation, comparison, and following trends becomes imperative. Crypto prices heavily rely on hype and demand, thus staying informed about industry trends like decentralized finance, Web3, or even AI-related developments proves advantageous.
The competition faced by a project also warrants serious consideration. If a project fails to distinguish itself significantly or competes with well-established digital currencies, capturing an audience becomes more arduous.
In conclusion, with the ever-growing popularity and potential of cryptocurrency, it's crucial to stay informed and make strategic investment decisions. By considering various factors such as market trends, technology advancements, and expert commentary, you can identify the best cryptos to buy now. Whether it's the proven giants like Bitcoin and Ethereum or the promising newcomers in the metaverse and NFT space, there is no shortage of exciting opportunities to explore. So, seize the moment, conduct thorough research, and dive into the world of crypto with confidence. You never know, you might just come across the next big cryptocurrency that could change your financial future forever.
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