With the recent surge in prices and the introduction of new cryptocurrencies, it’s no surprise that many investors are looking for the best cryptocurrency investments for 2023. Cryptocurrency is an evolving market that continues to attract investors and launches people into great wealth. However, many investors have driven the wrong way while making decisions on the right cryptocurrency to invest in.
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At the end of the article, you will discover the best cryptocurrencies for investment. You will also understand the technology, market capitalization, and other terms you need to understand in making decisions.
Best Cryptocurrencies for Investment in 2023
Out of over 22,700 crypto projects worldwide, there are a few reliable ones that are ideal for investment. Some of these cryptocurrencies include;
The discovery of cryptocurrency started with the creation of Bitcoin by Satoshi Nakamoto in 2009. Since then, Bitcoin and other cryptocurrencies have been household names in the finance world. Although Bitcoin is almost two decades in age, it continues to be one of the best cryptocurrencies inspiring the creation of others at the moment.
Its decentralized ledger system (blockchain) anchors its creation, distribution, trade, and storage, unlike fiat money. Currently, Bitcoin’s market capitalization is about $451.36 billion. Analysts and experts have predicted that Bitcoin is expected to move up 300% at the end of 2023, making it capture its late 2021 highs.
In addition, Bitcoin is also expected to reach and break above $1Million at the turn of the decade. This means experts expect Bitcoin to experience a 5000% growth at the end of the decade.
With a market cap of over $200 billion, Ethereum is the second-largest cryptocurrency and blockchain platform. It has birthed several smart contracts and non-fungible tokens (NFTs) over the past few years. Ethereum experienced a 14,754% growth from April 2016 to February 2023. According to experts, its unmatched resilience will make it peak in 2023, which is something to look out for.
Binance Coin (BNB) does not work like other cryptocurrencies. It started as a form of cryptocurrency used on Binance to make transactions. As a result of its expansion, it now facilitates trades on and off the crypto space and can even be exchanged from or into other cryptocurrencies like Bitcoin.
From its launch date in 2017 till late February 2023, BNB has experienced a 303,157% growth. Currently, BNB is still on the bullish run and is yet to back out of it.
Tether (USDT) is a stablecoin, which means that it is designed to maintain a stable value relative to a particular asset or currency. In the case of USDT, the value is pegged to the US dollar, with 1 USDT being equal to 1 USD. USDT allows users to hold a stable value cryptocurrency without being subject to the volatility of other cryptocurrencies like Bitcoin or Ethereum. Tether has a market capitalization of $70.9 Billion.
U.S. Dollar Coin (USDC)
Just like Tether, the value of 1 USD is equal to 1 USDC. However, USDC is powered by Ethereum but can be used to perform transactions globally.
XRP is a decentralized digital currency and a cryptocurrency created by Ripple Labs in 2012. It can be used to facilitate transactions and exchanges of fiat and cryptocurrencies. According to predictions from experts and analysts, XRP is expected to increase by 385.25% in 2024. It currently has a market capitalization of over $19.3 billion.
Dogecoin was created as a lighthearted alternative to other more serious cryptocurrencies like Bitcoin and Ethereum. In recent years, it gained significant fame, becoming a widely used cryptocurrency for investments and transactions. After a huge decline it had with other cryptocurrencies in 2022, Dogecoin is set to move to be bullish in the coming years.
Review The Best Cryptocurrencies to Invest in 2023.