It’s been a wild ride for the cryptosphere over the last 14 years. From its unpredictable volatility which saw Bitcoin lose 60% of its value last year to the numerous digital currency scams, most notably the FTX scandal, digital currencies remain the most hotly debated global financial topics to this day.
2023 has been projected to be crypto’s comeback year. And with all the hype surrounding different currencies and new crypto projects being rolled out almost daily, it can be tough to decide which cryptocurrencies are worth your time and money.
Cryptos have been widely used and accepted currencies for well over a decade now. With all their ups and downs, their volatile nature clearly does not deter investors from taking risks, especially if the reward can be great. And if history has taught us one thing, it is that they can be far more than great. This is probably why it has become an accepted form of payment with many vendors be they in person or online. For instance, many no deposit online casinos accept multiple cryptos as methods of payments, BitStarz Casino being a prominent example. Then there are providers who use crypto exclusively.
The crypto market is expected to rally in 2023 as analysts forecast a bear market, presenting a great opportunity to kickstart your crypto portfolio. So what are you waiting for? Benefit from the boom by investing in our top 7 cryptocurrency picks.
1. Bitcoin
Born from the anonymous mind of Satoshi Nakamoto in 2008, Bitcoin is undoubtedly the most popular cryptocurrency, attracting traditional and institutional investors alike. It’s high liquidity provides the perfect opportunity for short-term profit. Bitcoin is also immune to hyperinflation unlike its other crypto counterparts who can be affected by government policies. The cryptocurrency is still however susceptible to inflation but that comes at a standard rate that is reduced by half every 4 years.
2. Ether (ETH)
Created in 2015 by a Russian-Canadian programmer and cryptocurrency researcher, Ether is the official cryptocurrency of the Ethereum blockchain platform. Unlike Bitcoin, Ether’s underlying network is far more than just a tool for peer-to-peer payments, as it allows developers to build and deploy smart contracts. It is also customized for Web 3.0 applications and the trading of NFTs.
With a market cap estimated to be around $200 billion, Ether accounts for nearly 19% of the total cryptocurrency market. Ether shows no signs of slowing down as it continues to grow and dominate the market, continuing to be a safe investment bet.
3. Binance Coin (BNB)
Since its inception in 2017, Binance coin (BNB) has shown exceptional growth, quickly becoming one of the most popular cryptocurrencies for trading throughout the world. Initially starting off on the Ethereum blockchain, BNB has since migrated to its own blockchain called the Binanace Chain, where it is the primary means of payment.
This has helped skyrocket BNB’s popularity as Binance offers trading fee discounts for users who pay in BNB. Its strong presence within the Binance ecosystem also lends to its potential to grow, making the currency a perfect investment opportunity.
4. U.S. Dollar Coin (USDC)
USDC is a stablecoin designed to maintain its value relative to a specific asset or currency. Launched in 2018, by Centre Consortium, a joint venture between cryptocurrency company Circle and payments technology company Coinbase, it is powered by Ethereum allowing for more efficient and cheaper transactions.
Although USDC may experience less price volatility than other cryptocurrencies, stable coins unfortunately are also more intensely scrutinized by regulatory agencies like the U.S. Securities and Exchange Commission. However, if you are looking to dip your toe into the crypto pool without diving in head first, USDC is a great currency to start off with without having to deal with the fear of massive volatility, making it more appealing to risk-averse investors.
5. XRP
Developed by Ripple Labs, XRP is the sixth-largest crypto in the world with a $21 billion market capitalization. It is used as a bridge currency in Ripple’s payment network, which enables users to facilitate efficient and cost effective exchanges of different currency types. This makes the digital coin very appealing to investors who see the potential for widespread adoption of this technology.
Unlike Bitcoin, XRP verifies transactions on its network through a consensus algorithm called Ripple Protocol Consensus Algorithm (RPCA). As XRP continues to grow the possibilities are endless so we suggest striking while the iron is still hot.
6. Cardano
Considered one of the fastest-growing crypto assets, Cardano is known for its early adoption of proof-of-stake validation. This technique speeds up transaction time while decreasing energy consumption by getting rid of the problem-solving aspect of transaction verification.
As one of the 10-largest crypto currencies by market capital, Cardano has attracted many users through its phased upgrade process. Slow and steady sure wins this race, as the digital currency’s upgrades are always well thought out, avoiding disappointment and future mishaps.
Hailed as the Ethereum-killer, the digital assets received a ton of hype in 2021 reaching its all time high ADA with the launch of the hard-fork Alonzo in early September.
7. Dogecoin (DOGE)
As the first and only meme inspired coin on our list, Dogecoin found its way onto the cryptocurrency scene back in 2013. Based on the hugely popular Doge meme, featuring a Shiba Inu dog, the digital currency got a massive boost when it was first endorsed by Tesla CEO Elon Musk and has continued to skyrocket in popularity ever since.
Over the years, the coin has managed to amass a dedicated community thanks to its fast transaction time, low fees and endless meme potential. In fact, the meme coin has a circulating supply of over 100 billion coins, making it one of the most abundant cryptos in existence.
Dogecoin’s tipping and micropayments functions are just one of the reasons many people are investing in the coin right now. Its popularity also means high liquidity, making it easy to buy and sell.
