Best Cryptocurrency to Invest in 2023

The year 2022 has been a roller coaster ride for cryptocurrencies all across the globe. The abrupt demise of one of the largest cryptocurrency exchanges, FTX, has not only turned the industry on its head, but has also highlighted several concerns about the functioning, transparency, and rules governing the cryptocurrency market globally.

We cannot, however, overlook the reality that cryptocurrencies are here to stay. Because of the exponential expansion of non-fungible tokens (NFT), play-to-earn, decentralised finance (DeFi), and smart contract applications, there are various cryptocurrencies in the market that have long-term sustainability and may be considered a good investment choice in 2023. In reality, market downturns might be a great chance to acquire crypto jewels at a huge discount.

Reuters Business have talked about the potential of the best cryptocurrency to invest in to help you figure out how useful a crypto currency will be in 2023 before you buy it.

1. Bitcoin (BTC)

Regardless of how uncertain and unpredictable Bitcoin is at the moment, it is unquestionably the king of the crypto world in terms of market valuation and trade volume. Bitcoin has established itself as the world’s most popular and biggest cryptocurrency. Indeed, many major and small organisations, businesses, and even governments have begun to accept Bitcoin as a valid form of payment. Several large organisations, including Microsoft, AT&T, Burger King, and AMC, have accepted Bitcoin as a legitimate payment option.

In the long run, Bitcoin has constantly grown and provided enormous profits to its investors. Bitcoin’s initial recorded price was $0.003, and it has since hit a high of $60,000 in 2021. Because of the scarcity of Bitcoin, crypto investors want to acquire more and more of it.

But since there was so much pessimism in the air in 2022, the crypto market as a whole has seen huge sell-offs and a lot of volatility, but Bitcoin has always been able to bounce back. Bitcoin is a solid bet for long-term HODLers and will surely be the best cryptocurrency to buy 2023.

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2. Ethereum (ETH)

No top performing cryptocurrency list would be complete without including Ethereum (ETH). After Bitcoin, Ethereum is recognised as the world’s second biggest cryptocurrency. Several decentralised apps exist only due of Ethereum. The Ethereum network serves as a playground for DeFi and smart contract writers, and numerous crypto currencies built on the Ethereum blockchain include Shiba Inu (SHIB), The Sandbox (SAND), and Uniswap (UNI).

Prior to the crypto meltdown, Ethereum had reached $4700 in November of 2021. However, it has seen a significant drop in 2022 as a result of general negative market sentiment and FTX collapse. In 2022, Ethereum was trading in the $1300 to $1500 level.

This massive drop may be seen as a wonderful chance to purchase ETH on dips in 2023, as Ethereum is predicted to skyrocket, particularly in light of substantial network advancements and the migration to a more energy-efficient consensus method.

3. Dash 2 Trade (D2T)

Dash 2 Trade (D2T) is the best crypto to invest in 2023 and is also projected to explode in 2023 after its presale was a huge success in 2022, despite a big market meltdown in the crypto sector. D2T may be a good investment in 2023 since it is a solid and sophisticated crypto analytics tool that has raised millions of dollars since its presale began. D2T has a lot of potential because it wants to give traders of all levels, from beginners to experts, insights and many tools that make trading even better by using social trading options and making world-class dashboards.

Furthermore, this platform has released a demo trading experience, on-chain measurements, a sophisticated charting tool, and trading indicators with real-time crypto market statistics sent to their dashboards. With all of these smart utilities and powerful features, D2T is a must-buy cryptocurrency in 2023.

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4. Binance Coin (BNB)

Even in 2023, BNB seems to be fairly promising. Binance Coin, or BNB, is the native cryptocurrency of Binance, one of the major cryptocurrency exchanges. Binance exchange enables cryptocurrency dealers and investors to pay their fees and trade on its platform using BNB. BNB, which began trading at a low of about $0.50 in November 2017, has since reached an all-time high of $676. At the moment, the general price movement of BNB seems to be good.

The BNB has grown significantly over the years owing to a variety of causes including its burndown strategy, discount coupons, minimal costs, and quick transactions. BNB is also regarded as an excellent utility token. Furthermore, BNB may be used to undertake online transactions such as paying crypto credit card bills, entertainment, travel, and more.

5. Decentraland (MANA)

Decentraland is regarded as the metaverse ecosystem’s ruler. It is built on the Ethereum blockchain and is jam-packed with intriguing features that appeal to both consumers and corporations. Decentraland’s digital real estate platform allows users to do anything from entertainment to shopping, gaming, and e-commerce.

MANA is Decentraland’s native token, and it is used to carry out transactions and payments on the platform. Decentraland is a precursor metaverse project that is predicted to erupt massively in 2023, owing to the growing adoption of the metaverse.

6. Polkadot (DOT)

Polkadot is a network protocol that is regarded as one of the most secure, interactive, and sophisticated networks available. Polkadot is developing as one of the most popular and simply accessible cryptocurrencies among other digital assets as the Web 3.0 domain grows in popularity and growth. It seeks to increase communication between private and public blockchains while maintaining scalability.

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Polkadot is one of the most recommended network chains in 2023, since it can manage massive quantities of transactions through sharding, which has been a big bottleneck in the crypto world.

7. Cardano (ADA)

If you want to invest in cryptocurrencies, Cardano is another option for 2023. Cardano is fundamentally a highly powerful digital currency with one of the most cutting-edge proof-of-work algorithms. This algorithm makes the network secure and decentralised, which is why many decentralised application (dApp) developers use it. Cardano blockchain is well-known in the industry for its ability to make transactions very inexpensive and lightning fast, even faster than Bitcoin and Ethereum. The market capitalization is substantial, hovering around $10 billion, indicating that the currency is sufficiently liquid.

With this in mind, one should consider investing in ADA, Cardano’s native currency, in 2023.

8. Solana (SOL)

Solana, like Cardano and Ethereum, is one of the fastest growing smart contract blockchain networks on which developers choose to issue tokens. Solana’s native coin is the SOL. Solana is well-known in the industry for providing quicker transaction speeds with cheap fees, and is consequently seen as a serious rival to Ethereum.

Despite repeated concerns with instability and outages, investor and developer interest in Solana has not wavered due to significant features such as fastening speed and very inexpensive costs. With the expanding quantity of NFTs, dApps, and smart contracts, Solana will never die and has a good possibility of reviving in 2023.

Conclusion

Investing in cryptocurrency is a high-risk endeavour. And, whatever happens with FTX, it is not incorrect to predict that the crypto winter will last longer than predicted. However, given the disastrous events that have occurred in the digital currency industry, it is evident that more transparency and tighter controls are on the way.

Hopefully, the FTX commotion will help to sift out the fraudulent tokens from the system and free up a lot of room for the far more value and helpful cryptocurrencies, which have a lot of promise and will be quite beneficial in the future.

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