Top 10 Best Cryptocurrency to Invest in 2023: Which is the best Cryptocurrency to Invest in 2023 in order to yield higher returns? There are currently over 16, 000 digital assets to invest.
Choosing the best one to put your money and time can be a daunting task especially if you are new to the game. In this article, we have performed the rigorous work and have come up with the top 10 best Cryptocurrency to Invest in 2023.
Top 10 best Cryptocurrency to Invest in 2023
| Best Cryptocurrency to Invest in 2023 | Rank Category |
|---|---|
| Bitcoin (BTC) | Best Cryptocurrency to Invest |
| Ethereum (ETH) | Best Cryptocurrency to Invest |
| Binance Coin (BNB) | Best Cryptocurrency to Invest |
| Tether (USDT) | Best Cryptocurrency to Invest |
| Luckyblock | cheap Cryptocurrency to Invest |
| Terra | Best Cryptocurrency to Invest |
| Dogecoin | best newcomer |
| Ripple | cheap |
| Shiba Inu | best |
| Avalanche | cheap |
Best Cryptocurrency to Invest in 2023
If you’re interested in investing in the cryptocurrency market, an excellent way to generate above-average returns is to look for the best cheap cryptocurrency to buy. As these coins tend to be trading at a low price, any upwards moves can result in market-beating returns for savvy investors.
Bitcoin (BTC)
Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers.
Ethereum
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH or Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization.
Ethereum has also experienced tremendous growth. From April 2016 to the beginning of March 2022, its price went from about $11 to over $3,000, increasing more than 27,000%.
Ethereum has started implementing a series of upgrades called Ethereum 2.0, which includes a transition to proof of stake and aims to increase transaction throughput using sharding.
Binance Coin
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol. BNB was initially based on the Ethereum network but is now the native currency of Binance’s own blockchain, the Binance chain.
Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
Binance is among the top 10 best cryptos to invest for a long term benefit
Tether (USDT)
Tether is a cryptocurrency that is hosted on the Ethereum and Bitcoin blockchains, among others. Its tokens are issued by the Hong Kong company Tether Limited, which in turn is controlled by the owners of Bitfinex.
Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
Luckyblock
Lucky Block is a crypto-lottery platform that uses blockchain technology to improve traditional lottery systems. Users can purchase lotto tickets using LBLOCK, the platform’s native token, meaning the entire process is digitized and fair.
Using LBLOCK instead of FIAT, Lucky Block can make pay-outs much faster – and conduct multiple prize draws every day. In addition, since geographical boundaries are removed, users from across the globe can take part in these prize draws.
Terra
Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the the Terra platform and is used to mint more Terra stablecoins.
Terra stablecoins and Luna work in concert according to supply and demand: When a stablecoin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stablecoin.
Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stablecoins to mint more Luna. As adoption of the Terra platforms grows, so too does the value of Luna.
Avalanche
Avalanche is a decentralized, open-source proof-of-stake blockchain with smart contract functionality. AVAX is the native cryptocurrency of the platform.
Similar to Ethereum and Cardano, Avalanche provides blockchain software that can create and execute smart contracts powered by a native token (in this case, AVAX). Since its launch in 2020, Avalanche has rapidly grown, thanks in no small part to its comparatively low gas fees and fast transaction processing speeds.
Dogecoin
Dogecoin is the first meme cryptocurrency that started as a joke that trended on the internet a long time back. After keeping a position of safety for some time since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theaters.
Source: Glusea