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This guide tracks the best potential crypto coins and explains why some investors see value in them.
Keep in mind there is no guaranteed way to pick the best crypto to buy now – instead, use this as general information to help make your own investment decisions.
No one knows what the cryptocurrency market will do next. The best cryptocurrencies to buy will depend on what you're looking for.
Short-term investments are hard to pick. In addition to price data, consider using social media sentiment analysis and news to contextualise what price movements might mean and make an educated decision.
Keep in mind that most big run-ups in price are usually followed by a correction where the price comes back down after reaching a peak. So it is up to you to implement a strategy that allows you to exit with a profit before the market turns.
If you're investing over the long term, then you may want to consider "blue-chips" like Bitcoin (BTC) and Ethereum (ETH) which have a relatively well-tested track record. These coins have been adopted by financial institutions around the world and have utility beyond speculative investing.
The top 10 best cryptocurrencies are filled with several of these potential long-term investments. Let's take a closer look at them and understand why they are a part of so many investment portfolios. Doing so may help you understand what qualities to look for in other crypto assets, and help you make better investment decisions.
Below, we outline our top picks for the best crypto to buy now in 2023:
Virtual currencies are highly volatile. Your capital is at risk.
Let's start off by highlighting three cryptocurrency projects that have seen important developments recently, or have big events coming up in the near future. We update these highlighted coins on a weekly basis to reflect the latest developments in the world of crypto and blockchain.
Ethereum needs no introduction, as the blockchain network has become the go-to for decentralized application (dApp) developers worldwide. Ethereum's network provides the foundation for these apps, thanks to its smart contract functionality.
These smart contracts remove the middleman from certain transactions, making the process entirely decentralized. Considering Ethereum's use cases and massive rallies it's done, it definitely is one of the hottest cryptocurrency to buy right now.
Although Ethereum's GAS fees have been criticized for months, the recent release of 'Ethereum 2.0' has helped matters. This upgrade – Ethereum Merge – occurred in late 2022 and saw Ethereum move to a 'Proof-of-Stake' protocol.
This significantly increased the scalability of its blockchain and reduced fees. Due to this upgrade, we could see more people than ever opt to buy Ethereum over the coming months
Ethereum is the favorite blockchain for decentralized app (dApp) developers because of its scalability, speed and ease of development, as well as its large user base.
There are hundreds of protocols built on the blockchain and its TVL is almost five times that of its nearest rival – in other words, there are plenty of reasons to look at Ethereum as one of the best crypto to buy now.
Like Bitcoin, Ethereum has also experienced tremendous growth since its inception. Between 2017 and 2021, the price of Ethereum went from around $11 to an all-time high of about $4,800 – translating to gains of more than 43,000% which made it one of the best altcoins to invest in. However, due to the wider market crash, the value of Ethereum plunged to around $1,000 by the end of 2022.
But since the beginning of 2023, the price of this cryptocurrency is showing great resilience. As of writing, Ethereum is trading at around $1,800. On top of its market performance, there are other factors that make Ethereum the top cryptocurrency to invest in – particularly in the long term. Ethereum is also constantly making improvements to secure its future.
Ethereum shifted to a proof-of-stake mechanism in 2022, which helped the blockchain reduce its carbon footprint significantly, while the recent Shanghai upgrade allowed staked ETH to be withdrawn for the first time.
Although many analysts predicted it would flood the market and drive down prices, withdrawals and deposits have been at a similar level keeping Ethereum stable.
However, there have been continued criticisms leveled at Ethereum over its high network fees and relatively slow transaction speeds, with other networks capable of far better performance.
eToro is one of the best crypto exchanges that offers access to ETH with low fees and copy trading tools.
Virtual currencies are highly volatile. Your capital is at risk.
Created in 2009, Bitcoin is the original and, undeniably, the most popular cryptocurrency. Over the years, Bitcoin has become a household name and has attained widespread mainstream adoption. Bitcoin has also managed to sustain its top rank as the cryptocurrency with the largest market cap.
Back in 2016, it was possible to buy a single Bitcoin for around $500. Although Bitcoin remains volatile, it has gone on to generate unprecedented gains. For instance, in late 2021, Bitcoin was trading at just over $68,000.
On the flip side, in 2022, Bitcoin lost more than 70% of its market value. And now, as of writing, Bitcoin is trading in the $27,000 region.
Many argue that at current levels Bitcoin is heavily undervalued, with investment bank Standard Chartered recently releasing a report to say BTC is on course for $100,000 by the end of 2024.
Today, Bitcoin is accepted as an online payment system by many online merchants and the cryptocurrency can also be used as collateral to take out loans, to play at crypto casinos, and can be locked away to gain annual interest.
Considering the many utilities as well as the reputation of this digital token, which is described as 'digital gold' and a hedge against inflation, it is clear why Bitcoin continues to be a top choice as the best cryptocurrency to invest in 2023.
There's no doubt that Bitcoin lacks the utility of newer coins – but that doesn't mean it has no future value.
Out of all the digital currencies that comprise the crypto market, BTC is the one that has been adopted quickest by the legacy financial markets. The growing number of Bitcoin ETFs and derivatives products evidences this.
Moreover, a report from Deloitte found that over 2,300 US businesses accepted BTC as payment in late 2020 – and this number has undoubtedly grown since then. Due to its pervasiveness and reliability, Bitcoin remains a top cryptocurrency to invest in over the long term.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano is a cryptocurrency that aims to compete with Ethereum in the smart contract market. This is because Cardano is touted to be more scalable and easier to use for developers. Cardano achieves this by using two layers of technology – one for transferring value and another for tracking balances of the ledger.
The Cardano blockchain is powered by ADA, its native digital token. Since it supports smart contracts, Cardano is also widely used for creating decentralized applications. Cardano's focus on security and decentralization makes it hugely attractive for developers for many years to come.
In other words, Cardano continues to be one of the best crypto investments in the market today. On top of this, Cardano transactions are also cheap and fast. As such, it could be favored by online merchants as a payment option in the future.
Cardano has many other interesting elements that might make it an appealing option for investors. For instance, Cardano completed an upgrade in September 2022 – which further improved its scalability. Moreover, it has also launched its own stablecoin, which can help Cardano become a more important player in the DeFi space as one of the best DeFi coins to invest in.
Virtual currencies are highly volatile. Your capital is at risk.
IOTA is a digital token that some investors view to be the best cryptocurrency to buy now. This digital currency is designed to become a key player in facilitating payments in the IoT (Internet-of-Things) world. The main aspect that sets IOTA apart from other cryptocurrencies is that it doesn't actually use blockchain technology.
Instead, this project validates transactions using a decentralized acyclic graph consensus algorithm called 'Tangle'. This way, IOTA has managed to improve upon some of the limitations of traditional blockchain networks. For instance, IOTA transactions do not need to seek approval to create new blocks, validate transfers, or vote on proposals.
And due to these attributes, IOTA transactions can be carried out in seconds. Moreover, IOTA also facilitates fee-free transactions. Therefore, scaling doesn't have any adverse effect on the network.
Investors in the belief that the mainstream adoption of IoT is imminent might view IOTA as one of the top coins to buy now. Moreover, due to the crypto winter, IOTA tokens are available at a cheap entry price when compared to their all-time high in 2018.
Your capital is at risk.
The last digital token on our list is Polkadot. This digital token was founded in 2016 and is designed to connect different blockchains together. This unique interoperability protocol allows for data exchange as well as transactions without compromising security.
Using Polkadot, developers can also create their own blockchains. Another exciting aspect of this cryptocurrency is its partnerships. For instance, Polkadot is already paired with Chainlink to use its Oracle network. It is also working with Ankr StakeFi, thus allowing investors to stake their DOT tokens and generate passive income.
Although Polkadot benefited from the crypto bull market in 2021, its value plunged in 2022, in line with most digital assets. As of writing, DOT tokens are trading at around $6.18. Many argue that this represents a bargain, considering the long-term potential of this project.
Virtual currencies are highly volatile. Your capital is at risk.
Maker is a decentralized finance protocol on the Ethereum blockchain that issues and manages Dai, a decentralized stablecoin pegged to the US dollar. Users that hold assets which are supported as collateral (for example ETH) can lock their coins into Maker's smart contracts in order to issue Dai.
The system is overcollateralized—in order to mint Dai, users need to provide collateral that exceeds the value of the minted Dai, and users are required to monitor the value of their collateral in order to avoid liquidation.
The MKR token is used as the governance token for the MakerDAO, a decentralized autonomous organization that oversees the Maker protocol.
MakerDAO was founded in 2014 by Rune Christensen, and the Dai stablecoin was launched in late 2017. Initially, the Maker protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Dai is backed by a diverse range of assets, including ETH, (wrapped) BTC, USDC, USDP, and many others.
There have been a number of interesting developments related to Maker lately. Most notably, the MakerDAO has approved an increase of the DSR (Dai Savings Rate) from 1% to 3.49%. This will be the new rate that DAI holders are able to earn directly from the Maker protocol.
The increase in the DSR is expected to have a widespread impact on the DeFi ecosystem. For example, it will likely make leverage more expensive to access.
The market appears to be favoring MakerDAO's move, as the token has seen a +13.7% price increase in the last 7 days, making it one of the best performers in the cryptocurrency top 100.
In addition to the increased Dai Savings Rate, MakerDAO has made notable moves when it comes to the composition of assets backing the Dai stablecoin. Through governance, MakerDAO has decided to remove the Paxos Dollar (USDP) stablecoin from its reserve, and significantly lower the amount of the Gemini Dollar (GUSD) stablecoin in the reserve.
Virtual currencies are highly volatile. Your capital is at risk.
Arbitrum is a layer 2 platform for Ethereum that's based on optimistic rollups technology. The goal of the Arbitrum platform is to give users access to faster and cheaper transactions while relying on the security of the Ethereum network.
The Arbitrum mainnet launched in August 2022 and quickly became one of the most popular layer 2 solutions for Ethereum. The platform's efficient transactions have allowed it to support unique decentralized applications, perhaps most notably the GMX decentralized derivatives exchange. In addition, many protocols that made a name for themselves on Ethereum, for example Uniswap, Aave and SushiSwap, are now also deployed on Arbitrum.
Despite being a relatively recent entrant on the cryptocurrency scene, the Arbitrum platform has become one of the biggest blockchains in terms of the TVL (total value locked) in its DeFi ecosystem.
Arbitrum has been one of the most interesting projects to follow lately, and the layer 2 platform's hot streak doesn't appear to be ending any time soon.
The Graph is a blockchain data indexing and querying protocol that plays a key role in Ethereum's decentralized application ecosystem. The protocol has started the final phase of its migration to the Arbitrum layer 2 with the aim of improving scalability. The migration was approved through a governance proposal.
The Graph's transition to Arbitrum will proceed gradually, according to a press release from the Arbitrum Foundation and the Graph Foundation:
"Beginning today, protocol users will be presented with an option to transition to Arbitrum across The Graph's suite of products. Protocol rewards will continue to gradually shift from Ethereum to Arbitrum, and over time, will transition entirely to Arbitrum."
In addition to The Graph's move to Arbitrum, another interesting development related to Arbitrum is the announcement of Xai, a layer 3 blockchain built on top of Arbitrum. Xai uses the Arbitrum Orbit tech stack to create a blockchain platform specialized for gaming applications.
Virtual currencies are highly volatile. Your capital is at risk.
Solana is a high-performance blockchain platform with smart contract capabilities. After launching its mainnet in 2020, Solana has emerged as one of the most credible competitors to Ethereum in the smart contracts sector. Solana uses a Proof-of-Stake consensus mechanism combined with innovations like Proof-of-History, which allow the blockchain to handle thousands of transactions per second while keeping costs low for users.
Solana is one of the most popular blockchains today and one of the most credible competitors to Ethereum. The high-performance platform is seeing adoption in practically all sectors, ranging from DeFi to NFTs and blockchain-powered gaming.
Solana has seen some encouraging on-chain activity as of late indicating that new users are starting to join the network and actively using it. According to blockchain research firm Messari, consumer-oriented apps have seen "heightened activity", with the amount of NFT transactions on the Solana blockchain recently surpassing both Ethereum and Polygon.
Messari also pointed out that on-chain activity indicates that a shift is happening from decentralized exchanges and NFT marketplaces to consumer platforms on the Solana blockchain.
Solana's excellent scalability makes it a great fit for consumer applications, and it will be interesting to see if the positive trend in on-chain activity continues. It could be just what SOL needs to break out of its current negative trend, as the coin has dropped about 23% against the US dollar in the last month.
Virtual currencies are highly volatile. Your capital is at risk.
BNB is a token that was launched by the Binance cryptocurrency exchange in 2017. BNB serves two primary functions. Holders of the token get access to special benefits when using Binance – this includes lower trading fees, access to the exchange's Launchpad and Launchpool programs, cashback on Binance Visa card purchases, and more.
The token is also used as the native asset of the BNB Chain blockchain. BNB Chain is a variant of Ethereum that offers significantly lower transaction fees to users, and it allows developers to easily deploy EVM-compatible decentralized applications. Previously known as Binance Coin, BNB has now gone through an extensive rebranding.
Virtual currencies are highly volatile. Your capital is at risk.
BNB Chain has established itself as a very popular blockchain platform thanks to its fast and cheap transactions. Even though there have been concerns about the platform's effective level of decentralization, many users appear to be prioritizing convenience.
In addition, Binance continues to dominate the cryptocurrency exchange industry, and has increased its market share even further following the collapse of FTX. Since it's likely that Binance will continue to provide incentives for BNB holders, it's reasonable to expect solid demand for BNB moving forward.
Of course, there are also the quarterly BNB burns, which will continue reducing the supply of BNB until it hits 100 million coins. By increasing the scarcity of BNB, the quarterly burns work in favor of long-term BNB holders.
Uniswap is a decentralized cryptocurrency exchange that introduced and popularized the AMM (automated market maker) model. This unique design removes the need for order books, providing an elegant way for swapping between different tokens directly on the blockchain without relying on intermediaries.
The Uniswap protocol is decentralized, and anyone can create liquidity pools for any token. This means that the newest crypto assets are often traded on Uniswap before they make their way on centralized cryptocurrency exchanges.
The model introduced by Uniswap has been adopted by many decentralized exchanges on different blockchain platforms. However, Uniswap remains the most active decentralized exchange in terms of trading volume.
Uniswap is governed by holders of the UNI token, who can submit and vote for proposals. UNI was distributed to past users of the Uniswap protocol via an airdrop in 2020, and the token is now available for purchase on a variety of both decentralized and centralized trading platforms.
The Uniswap protocol recently a record daily trading volume at $11.84 billion. This was almost twice as much volume as the protocol's previous daily volume record.
Uniswap hit its record as users rushed in to trade USDC, the major stablecoin that came under pressure over the weekend after the failure of Silicon Valley Bank. The reason why this failure was relevant to USDC is that Circle, a key issuer of the USDC stablecoin, disclosed that $3.3 billion out of the roughly total $40 billion in funds backing USDC are held at Silicon Valley Bank.
This volume surge shows that the Uniswap protocol is a key piece of infrastructure for the crypto markets, and can successfully handle very large volumes even during periods of chaos in the market.
In addition, the Uniswap project has recently also announced a non-custodial mobile wallet that supports the Ethereum mainnet as well as the Arbitrum and Optimism layer 2 scalability platforms.
Virtual currencies are highly volatile. Your capital is at risk.
Cosmos is a network that's designed to allow different blockchain platforms to interoperate with each other. The Cosmos network is coordinated by the Cosmos Hub, a Proof-of-Stake blockchain. The Cosmos Hub is also designed to facilitate connections with blockchains outside of the Cosmos ecosystem, for example Bitcoin and Ethereum. The different blockchains that make up Cosmos communicate through a protocol called IBC (Inter-Blockchain Communication).
The Cosmos Hub and other blockchains in the Cosmos network are built using the Cosmos SDK framework. Blockchains launched on Cosmos benefit from a robust Proof-of-Stake consensus mechanism, fast transaction times (about 7 seconds) and low transaction costs (about $0.01 per transaction).
The native asset of Cosmos is called ATOM. Users can stake their ATOM tokens to contribute to the network's security as well as earn staking rewards and a portion of the transaction fees collected by the network.
On March 15, the Cosmos network will receive its v9-Lambda upgrade, which will introduce replicated security (RS) to the network. This will allow blockchains in the Cosmos network to essentially lease security from the Cosmos Hub by allowing validators on Cosmos Hub to produce blocks for them. The upgrade is part of the broader concept of interchain security (ICS), which the Cosmos project is gradually rolling out.
Replicated security will allow Cosmos-based projects to focus on their unique strengths instead of having to worry about their validators and security. Meanwhile, ATOM stakers could see some extra yield since up to 25% of the fees collected by "consumer chains" will be going to Cosmos Hub stakers.
At launch, only pre-approved blockchains in the Cosmos network will be able to use the replicated security feature. Eligible blockchains are selected through Cosmos governance.
Virtual currencies are highly volatile. Your capital is at risk.
GMX is a decentralized cryptocurrency exchange specialized in derivatives, more specifically perpetual futures contracts. The GMX exchange is currently available on the Arbitrum and Avalanche blockchain platforms.
The GMX ecosystem features two tokens: GMX and GLP. GMX is a utility and governance token which accrues 30% of the fees collected on the GMX exchange. Meanwhile, GLP is the platform's liquidity provider token, which accrues 70% of the fees collected on the exchange.
GLP represents an index that currently consists of 8 different crypto assets which are supported on the GMX exchange for swaps and leverage trading. Users can mint GLP by supplying any of the supported assets to the pool, or redeem GLP for assets held by the pool.
The platform supports trading with up to 50x leverage, which is competitive compared to most centralized crypto derivatives platforms.
Centralized cryptocurrency exchanges are under increased scrutiny after the collapse of FTX. In addition, the failure of many centralized crypto lending businesses has also negatively impacted the reputation of centralized crypto businesses more broadly.
While centralized exchanges still reign supreme in terms of trading volume, an increasing number of crypto investors is looking for decentralized alternatives. The sector of decentralized crypto derivatives is still relatively new, which means that there could be a lot of upside for platforms such as GMX. That's the main reason why we featured GMX as one of the best new cryptocurrencies to buy.
Shiba Inu is a meme cryptocurrency that was launched in 2020 by a person using the pseudonym "Ryoshi". The project is heavily inspired by the Dogecoin cryptocurrency, and also features the Shiba Inu dog breed in its branding. In contrast to Dogecoin, which has its own blockchain, Shiba Inu is issued on the Ethereum blockchain as an ERC-20 token.
During the SHIB token launch, half of the supply was sent to Ethereum founder Vitalik Buterin (who is not involved with the project in any way). The project framed this as a token burn. Buterin did eventually burn the vast majority of his SHIB holdings and sold the rest of his tokens to fund charitable donations.
SHIB saw a significant spike in popularity in 2021 and became the second-largest meme coin by market cap, second only to Dogecoin. In addition, SHIB is one of the most popular penny cryptos at the moment, making it one of the leading candidates for the next cryptocurrency to explode in 2023.
The Shiba Inu project is currently working on Shibarium, a layer 2 platform for Ethereum designed to provide more efficient transactions to users. Shibarium is currently in the testnet phase. Shibarium's "Puppynet" testnet has been seeing some encouraging activity, with over 800,000 transactions being completed so far. In addition, the testnet has seen more than 100,000 unique wallet addresses.
The Shibarium platform will use the BONE token for gas fees and validator incentives. In addition, the base gas fees paid on Shibarium will be used to burn SHIB tokens, reducing SHIB's supply over the time.
Shibarium will provide an alternative for users that want to avoid the high transaction costs on the Ethereum mainnet. Per the Shiba Inu development team, they're primarily looking to target the metaverse and gaming sectors with their layer 2.
The upcoming release of Shibarium will be one of the biggest milestones in the history of the Shiba Inu project, so it will definitely be worth watching the SHIB markets moving forward. However, don't expect SHIB to reach $1 or $0.50 anytime soon.
Virtual currencies are highly volatile. Your capital is at risk.
Mina Protocol is a project that's building an extremely lightweight blockchain. With the help of zero-knowledge technology, the size of the Mina blockchain is kept at just 22 kilobytes at all times.
The Mina Protocol's version of decentralized applications is called zkApps. The smart contracts these applications are built with support zero-knowledge proofs, which can allow users to prove ownership of their data without disclosing the data itself to the party they're interacting with. zkApps can also source data from any website privately, providing easy access to real-world data instead of relying on complicated oracle systems.
Zero-knowledge technology is likely to become a very important trend in the crypto and blockchain space moving forward, and Mina Protocol could be positioned very well to take advantage of this.
In addition, the lightweight design of the Mina Blockchain makes it easier to participate in the network, which is especially relevant for mobile devices. If we're going to see widespread adoption of blockchain technology, it's most likely that a large number of people will be using blockchain through mobile devices. This could make Mina a candidate to become one of the next cryptocurrencies to explode.
The Sandbox platform is an ecosystem where gamers can create, own, and monetise their activities with the help of non-fungible tokens (NFTs) and its utility token, $SAND. NFTs are in effect a digital certificate of ownership.
Players can use NFTs to assign verifiable ownership to their digital assets integrate into games and trade on marketplaces. The Sandbox provides tools such as the Game Maker to enable player engagement.
Also, The Sandbox virtual world – or metaverse – is comprised of digital lots of real estate bought with LAND tokens, where players can become digital property developers and interact.
Companies such as Facebook owner Meta are betting big on the metaverse as the next iteration of the internet, where people will work, play, socialise and shop, so there will be money to be made. The Sandbox is an excellent new cryptocurrency to buy as it allows traders to invest in the metaverse.
Virtual currencies are highly volatile. Your capital is at risk.
XRP is a cryptocurrency that was launched in June of 2012. It was developed by David Schwartz, Jed McCaleb and Arthur Britto, who started a company called OpenCoin together with Chris Larsen. 80% of the XRP supply was gifted to the company by the developers of XRP. OpenCoin has since been renamed to Ripple, and the company has put the majority of its XRP holdings into escrow.
XRP provides very fast and low-cost transfers, making it suitable for use-cases like remittances. It uses neither Proof-of-Work nor Proof-of-Stake, but instead implements the XRP Ledger Consensus Protocol. Every participant in the XRP network can choose a set of validators that they trust to behave honestly.
Ripple has implemented the XRP cryptocurrency into its products, most notably On-Demand Liquidity (ODL). ODL works in partnership with cryptocurrency exchanges and uses XRP to provide efficient cross-border money transfers.
Even though the crypto markets have been rather uneventful as of late, XRP has quietly been a very solid performer in recent weeks. After the coin found support at $0.42 on May 16, XRP has been steadily climbing upwards — XRP is currently posting a +15.6% gains versus the US dollar in the last 30 days, which is especially notable given that Bitcoin and Ethereum have lost 8.9% and 4.9%, respectively, in the same time period. In fact, XRP is one of a handful cryptocurrencies that have gained value in the last month.
At its current price of $0.53, XRP is quickly approaching the $0.57 resistance level that proved too strong for the bulls to surpass in March. One factor that could help push XRP over this line is positive developments in the lawsuit between Ripple and the SEC.
Given XRP's recent performance, the market seems to be growing in confidence that the lawsuit will be resolved in a way that benefits Ripple. If the court concludes that XRP shouldn't be classified as a security, we could see the coin being re-listed on top crypto exchanges like Coinbase, which would very likely result in positive momentum for XRP.
Virtual currencies are highly volatile. Your capital is at risk.
To find the best cryptocurrencies to invest in, you need to do much research and analysis. Begin by examining the market capitalization of various cryptocurrencies, as this provides insights into their stability and growth potential. Next, dive into each crypto's underlying technology and purpose. Following reputable crypto analysts and staying up-to-date with the latest news can be invaluable.
Moreover, scrutinize the trading volumes, as they can indicate investor interest. Lastly, don't overlook the importance of community support and developer activity, as they often hint at a crypto's long-term viability.
There are numerous reasons individuals and institutions invest in cryptocurrency.
The overarching factor for many investors, given the continued popularity of low-utility shitcoins, appears to be that it offers a greater potential to earn high returns on investment when compared to traditional investments or savings accounts.
However, crypto is much more than just pure asset speculation – there are many thousands of cryptos and, therefore, many thousands of projects offering different solutions to real-world issues.
On this list alone are projects that allow users to earn rewards and take ownership for the creation of memes (AiDoge), earn rewards for recycling household waste (ecoterra), and act as foundational building blocks for other developers to build their protocols (Ethereum and Cardano).
That's without mentioning the belief that decentralized finance (DeFi) or stablecoin projects have the potential to change a worldwide financial system that many see as unfair, or that cryptos have driven the building of the metaverse, a virtual reality world that could radically change our daily lives.
Few investment assets have the potential to experience the kind of rapid gains that exist in the crypto space.
As mentioned above, PEPE token saw 7,000% gains in just over three weeks and the likes of Dogecoin and Shiba Inu experienced similar growth during the 2021 bull run.
Only recently tokens such as X, MIC and Alpha have all returned well over 1,000% gains immediately after launching but it is extremely difficult finding those gains.
DEXTools is very useful for looking at newly trending coins but we would recommend treading carefully – these kinds of small market shitcoin can pump and dump in a matter of a few hours or days.
If you are an investor that is prepared to sit back and allow your investment time to grow, then investing in major cryptos offers returns like few other financial assets.
Gold is one of the oldest and most popular investment vehicles in the world and has enjoyed continued growth since it was last in a bear cycle from 2013 to 2015. If we take the low price of $1,078 in December 2015 to today's price of $1,966, it represents an increase of 82%.
The growth of hundreds of cryptos has been exponential in that same time – Ethereum being one example having risen almost 550,000% from an ICO price of $0.31 to a current price of $1,700.
To return 82% gains with Bitcoin, for example, the price would need to return to approximately $46,500 from today's price – way off its all-time high of $69,000 and very doable considering a bull run is expected by many in 2024 because of the Bitcoin halving.
Many crypto investors have bought into the space because the emerging blockchain technology offers a secure and transparent avenue to remove third parties and institutions from financial transactions.
Known as decentralized finance or DeFi, this allows for more privacy and individual freedom and, in theory, cuts down on fees and charges that those institutions charge for using their services. DeFi eliminates the need for intermediaries as people, merchants and businesses can conduct transactions directly.
Inflation continues to rise across the Western world, with rate hikes reaching some of their highest levels in years, while many Americans have lost trust in the banking system after another banking crisis saw the collapse of Silicon Valley, Silvergate and Signature banks.
Bitcoin and other cryptos have been considered an 'inflation hedge', which can outperform traditional currencies as they lose value over time as more money is printed. BTC has a strict maximum supply of 21 million coins and when they are all in circulation no more will ever be produced – meaning those who hold them essentially set their value.
A great many crypto projects offer robust staking rewards that allow crypto users to earn interest just for holding their tokens over a long period.
Even stablecoins such as USDT offer staking, with holders able to earn over 5% from Tether – a rate that far outstrips what can be earned by holding earnings in a traditional savings account with a bank. Ethereum is one of the most popular tokens to stake – with more than $32 billion of ETH staked – and currently offers rewards of 5.86% to those who do.
A great many other utilities and use cases also exist in the crypto world that make tokens have 'value', as we discussed at the top of the article. That can come in a hugely broad spectrum of things.
Even in this article, the projects offer tokens that are used in crypto gaming (Doge Rush and Pikamoon), for the continued development of blockchain technology (IOTA), for decentralized app builders (Ethereum) and even more niche offerings such as recycling waste to earn tokens (Ecoterra) and as a token to help the freelance economy (DeeLance).
All investment portfolios should have a diverse range of financial assets to avoid putting all your eggs in one basket. Some investments should be passive and some should be active and, as there are investor profiles that cover conservative, moderate and aggressive, so should your portfolio reflect assets that fit into those categories.
Investing comes in many forms – real estate, stocks bonds, pension plans, derivatives, commodities, even material objects like watches, sneakers or trading cards.
Crypto investment should be a part of a wider portfolio that covers all bases and as a highly speculative asset should come at the aggressive end of your portfolio allocation.
Virtual currencies are highly volatile. Your capital is at risk.
Investors searching for the best cryptocurrencies should consider many different aspects, such as their portfolio goals and individual risk profile, as well as understanding that cryptos are extremely volatile and could result in losses.
Investors must conduct due diligence on a project before investing and ensure to look out for projects that have solid fundamentals and clear visions for the future – as well as looking for red flags that could signal a poorly operated project or an outright scam.
Our recommended best crypto is Wall Street Memes, a brand-new meme crypto presale project with massive community backing of more than 1 million social media followers.
The project secured over $300,000 in investment in its first 24 hours and has now secured $8.5 million in just over three weeks since launch.
Some of the best crypto to buy now in 2023 are Bitcoin, Ethereum, and Cardano and thus have the potential to rise throughout the year.
Our pick for the best crypto to buy now is Bitcoin. The project's native token, BTC, has more upside potential with low risk due to the value the project has provided.
Bitcoin is often touted as the best cryptocurrency for beginners, as it's easily accessible and isn't as volatile as less-established coins. However, cryptos like Ethereum and Solana are also suitable for beginners – and may have a higher price ceiling.
Finding the best cryptocurrency to invest in involves scouring social media for coins that retail traders are talking about. It's also essential to conduct technical analysis on these coins and review the project's whitepaper. By taking these steps, investors can help identify projects with high growth potential.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
