Blockchain technology and cryptocurrencies are the fastest-growing industries around the globe right now.
The cryptocurrency industry has been able to hit the trillion-dollar mark in just a short period of 12 years, which makes it the fastest industry or sector ever to hit that mark. This alone goes a long way to show the immense potential the cryptocurrency market holds.
Cryptocurrencies are digital assets that are now used as a medium of exchange on the internet, breaking the cross-border barriers and monetary policy restrictions that your traditional local country’s currency has.
This is also another reason why the industry is fast expanding, as we are currently in a technological age where lots of activities are carried out using the internet, thus creating a constant need for digital currencies.
Therefore just like the Dot COM era where the internet was just becoming a mainstay the digital asset market which now has the likes of cryptocurrencies is gradually becoming very important in our society, especially online communities, and platforms, and though still at the early stages of adoption, would see much more explosive growth as years pass.
This is why we have decided to give you some ideas and suggestions about the top 5 cryptocurrencies you can buy in 2023 that is likely to yield great returns over time. The first on our list today is also the first ever cryptocurrency asset to be created and it’s called the BITCOIN which is arguably the best crypto to buy now.
Image source: Tradingview
Bitcoin has seen a lot of ups and downs since its creation in 2009 but has continued to prove to the world that it is still one of the most perfect and reliable cryptocurrency projects currently.
The road map for the crypto coin is so organized that it can be said to be almost flawless. This fact can be proven through its ability to keep increasing in value, through the Bitcoin Halving system, where demand grows and supply diminishes, thus driving the price higher at a certain point in time.
Bitcoin is also one of the most secure projects available as its algorithm has been built to function on its own without the intervention or control of any organization or individual, this can also be confirmed by the fact that to date, no one can say for sure the organization or group of persons in charge of the system.
In addition, Bitcoin still has a strong 40% dominance on the entire cryptocurrency market which also shows the level of influence it has on the market and the level of reliability the cryptocurrency market has on it which is why I said earlier that it is arguably the best crypto to buy now and any other time.
Bitcoin price reached an All-Time High (ATH) price of $67,000 in 2021 before the DIP hit the cryptocurrency market, it’s currently trading between $22,900 and $23,600 which has seen the price drop about 300%, which means it is currently not a bad idea to also buy into bitcoin if you had missed out on the opportunity initially.
Image source: Tradingview
The second on the list of 5 cryptocurrencies to buy is called Ethereum. Due to its major involvement in the smart contract integration into the cryptocurrency system, Ethereum is another cryptocurrency coin that stands out among other cryptocurrencies.
The Ethereum platform has become a powerful platform that is now used in building financial contracts and other applications in a decentralized and permissionless fashion, fully utilizing the main aim of blockchain technology itself.
One of the main points that guarantee or confirms a cryptocurrency asset’s potential is its use case and Ethereum has a lot of that. It can also be said to be one of the best crypto to buy now, due to its immense potential and high level of adaption.
Ethereum is also one of the main cryptocurrency assets that maintain a high level of decentralization through its Dapps projects. This has continuously increased the level of adoption for the coin.
Ethereum also keeps making groundbreaking strides and constantly looks to improve its services, as it recently switched from its POW Proof of Work system, which used up a lot of energy and caused environmental damage, to the POS Proof of Stake system, which uses little to no energy.
One very striking fact about the Ethereum network is its ability to keep growing and improving its already great system of operation, which is in itself a very good sign for investors. Therefore, the potential available in the crypto asset is massive, which means the price of the asset is still going to continue its growth.
Ethereum price reached an All-Time High (ATH) mark of $4,756 in 2021 before the DIP hit the cryptocurrency market, it’s currently trading at $1,640 which has seen the price drop about 300%, this means it is currently not a bad idea to also buy into Ethereum if you had missed out on the opportunity initially.
Image source: TradingView
The third on the list of 5 cryptocurrencies to buy is called Ripple. Ripple is a digital currency that operates on a decentralized platform, meaning it is not controlled by any central authority or government. It was created in 2012 with the primary aim of making cross-border payments faster, cheaper, and more secure.
Ripple works on blockchain technology, which ensures that transactions are transparent and secure. The currency has its own network, XRP, which enables users to make cross-border transactions with ease.
How it Works
When a user wants to make a cross-border transaction, they need to first convert their local currency into XRP. The XRP is then sent to the recipient, who can convert it back into their local currency.
The transaction is validated on the Ripple network, which ensures that the transaction is secure and transparent. The best part is that the transaction can be completed in a matter of seconds, making it much faster than traditional cross-border transactions.
Ripple has the potential to revolutionize the world of cross-border payments. The platform offers several advantages over traditional cross-border payment methods, making it an ideal solution for financial institutions.
With the increasing adoption of cryptocurrencies, it is likely that Ripple will play a significant role in the future of cross-border payments.
Although it is currently trading at $0.42 and below, which has been that way for over a year now, due to their court case with the SEC, and also due to the general market DIP, analysts have predicted a massive bullish rally for the coin, expecting the coins price to go to as high as between $3 to $5 as soon as their case in the court is resolved.
Although we can’t specifically state when that might be, it’s still not too late to invest in the token this year. Not financial advice in any case (NFA). Always do your own research (DYOR).
Image source: Coinmarketcap
The fourth on our list of 5 cryptocurrencies to buy is called Polygon(Matic). Being the first PoS blockchain that is EVM (Ethereum Virtual Machine) compliant and ready to use, Polygon positioned itself as the ideal candidate to ease Ethereum’s transition.
In other words, while maintaining its independence, Polygon can transfer Ethereum’s traffic to its sidechains. Without it, Ethereum would only be able to scale on its main chain using its Layer One solution.
Thanks to Polygon Matic Layer 2 scalability Transactions may be carried out off-chain or on a sidechain, with up to 65,000 transactions going through the network. This is next connected to its principal chain, known as Plasma.
On May 18, 2021, the price of MATIC coin reached an all-time high (ATH) of $2.45, just before the cryptocurrency industry as a whole plummeted from its peak.
With more than 50 dApps in its ecosystem, 800,000 unique addresses, and 76 million transactions already completed, it is almost impossible not to see the MATIC price rising even beyond the previous ATH, All time high, once the cryptocurrency market enters into its bullish period again.
Image source: Coinmarketcap
Lastly on our list of the 5 cryptocurrencies to buy is called Decentraland(MANA). MANA is a token that is currently ranked 47th on the general cryptocurrency market capitalization listing called Decentraland.
This is one of the very few tokens that has really combined the modern characteristics of blockchain technology into its system. As it is a decentralized game and a 3D virtual reality platform, players own lands and can create endlessly.
At the core, Decentralized Autonomous Organization (DAO) software is at the core, and governance is in the hands of the community.
Through the native token MANA, players participate in any proposals for managing and improving the ecosystem, the auction system, and the in-game policy.
Also, a special role in the game is assigned to NFTs, such as collectibles, virtual equipment, and real estate (LAND). However, for new players who want to join the universe and seize NFTs, the entry barrier will be high.
This token combines all blockchain technologies such as the metaverse, NFTs, and a decentralized system, projecting it as a token with unlimited possibilities and potential. Since its launch in 2017, Mana has attained an All-Time High market price of $5.15, before the cryptocurrencies’ DIP.
This means that it is filled with a lot of potentials as well, and the price of MANA is very likely to break the previous ATH as soon as the crypto market begins its bullish run again.
Currently, the price sits at $0.8, which means since the start of the crypto market DIP, the price of the asset has plummeted by about 1000%. This also means that it is a good time to buy if you have some money to play around with.
The cryptocurrency market is fast expanding, and guides like this are very important for cryptocurrency users, as it helps them make smart decisions as regards acquiring any cryptocurrency asset they might be interested in. This would help them become more profitable as cryptocurrency investors.
Finally, please note that the cryptocurrency market is highly volatile and all the information provided here is strictly the opinion of the author and not financial advice. Please do your research before buying anything.