Experts are predicting 2023 to be the year that crypto market conditions finally begin to ease after the tumultuous experiences of 2022 as bear market conditions firmly took hold, wiping billions off the value of digital currencies across the board.

Although a return to a full bull market of 2021 is unlikely in 2023, the recovery of Bitcoin (BTC) above $20,000 has led to several other crypto assets seeing gains in the early part of 2023. Indeed, many cryptocurrency prices are still low enough for crypto asset enthusiasts to pick up significant gains over the coming months and before the next Bitcoin halving event next year.

Best Cryptocurrencies to Invest In Right Now in 2023

Here are the 10 best crypto tokens to buy now in 2023 for significant gains by the end of the year and beyond:

1. Ethereum (ETH)
2. Binance Coin (BNB)
3. Cardano (ADA)
4. Ripple (XRP)
5. Solana (SOL)
6. Shiba Inu (SHIB)
7. Polygon (MATIC)
8. Dogecoin (DOGE)
9. Chainlink (LINK)
10. Uniswap (UNI) 

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

1. Ethereum (ETH)–Blockchain giant with exciting new updates

What is Ethereum?

Ethereum is the most popular coin by market capitalization and value outside Bitcoin and remains the world’s leading blockchain provider. It is a decentralized open-source chain with excellent smart contracts functionality, allowing users to build decentralized applications (dApps) easily.

Ethereum has found its position as the leading blockchain provider under threat from newer layer-1 blockchains, with its original layer-1 proof-of-work (PoW) consensus proving costly, inefficient, and slow compared to newer, more modern platforms. Ethereum developers improved many of these issues in 2022 with the Shanghai upgrade, which provided a transition to the much less unwieldy proof-of-stake (PoS) mechanism.

Reasons why you should consider investing in ETH

ETH’s recent increase in value reflects an overall improvement in global cryptocurrency markets but can also be attributed to the successful roll-out of Ethereum 2.0. Ethereum claims that the transition to a proof-of-stake consensus mechanism reduces energy use by around 99.95% compared to the previous PoW consensus, thus making ETH a much more attractive proposition compared to other cryptos. Gas fees have, however, remained on the high side.

Further developments are in line for release in 2023 and 2024, such as a new sharding mechanism that will expand the Ethereum network’s data storage capacity, increase scalability and cut transaction fees. These new features look set to cement the Ethereum ecosystem as one of the world’s leading crypto assets for years to come.

Risks of investing in ETH

The close pegging of Ethereum’s ecosystem to Bitcoin makes it one of the most resilient coins to general market fluctuation, meaning that the price of ETH is less significantly affected during current bear market conditions. Several global governments are considering introducing regulation of crypto markets. Any regulation that stifles the freedom enjoyed by the largest cryptocurrencies apart from Bitcoin, such as Ethereum, could adversely impact the price of ETH.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

2. Binance Coin (BNB) – Smart Chain backed by centralized exchange giant

What is Binance Coin?

Binance is best known in the crypto world as being the dominant centralized crypto exchange, hosting the highest trading volume of global transactions. However, alongside the exchange, Binance has spent significant sums on developing its ecosystem to produce its own blockchain, the Binance Smart Chain. The cryptocurrency created by Binance is called BNB, which is the native token of the blockchain.

With the backing of a crypto giant in Binance, the Binance Smart Chain has come a long way in a short time. The Binance Smart Chain is significantly more centralized than others, such as Ethereum, but offers transaction fees from as low as $0.02 and speedy block times. This has made Binance’s blockchain technology enormously popular with several new projects, from decentralized cryptocurrency exchanges to non-fungible tokens.

Why you should consider buying BNB

The Binance Smart Chain has excellent functionality to support smart contracts, which several existing projects have already used. However, with its meager gas fees, this looks set to make the chain an increasingly popular destination for more new projects in the coming years.

BNB token holders also have the opportunity to stake their BNB coins, offering the chance to earn rewards as their coins support transactions on the platform. This low-cost, efficient, and secure route to market for developers could provide excellent returns for investors in BNB. Although BNB already has a high market cap, there is significant potential for superior returns, particularly as the Binance Smart Chain stimulates growth in crypto industries.

Risks of Investing in BNB

Binance’s strong market cap and room for growth make it an attractive prospect for investors preferring an established coin to purchase. However, Binance’s multi-layered offering puts them at greater risk of devaluation not only when bearish conditions hit crypto markets, but if any part of their ecosystem fails, confidence in the whole Binance ecosystem will take a significant hit.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

3. Cardano (ADA)—Highly scalable blockchain network

What is Cardano?

Created by the former co-founder of Ethereum, Charles Hoskinson, Cardano is a blockchain built on resolving some of the limitations of Ethereum mentioned below. Hoskinson and the development team conducted in-depth research when designing Cardano, all of which have been peer-reviewed by academics to ensure the quality of the coding and platform functionality.

Two of the significant limitations of Ethereum that Cardano offered alternatives to are the speed and cost at which transactions are validated via its proof-of-stake consensus mechanism compared to ETH’s unwieldy proof-of-work consensus. In addition, Cardano’s layered architecture, which contains the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL), allows transaction processing and hosting of decentralized apps to be split onto different networks.

This multi-layered approach offers developers significantly greater scalability and flexibility while reducing the computing power required to mine blocks, leading to greater decentralized network control.

Why you should consider buying ADA

The revolutionary nature of Cardano’s blockchain technology quickly built up a loyal and dedicated following, making it one of the most active layer-1 blockchain platforms for dApp development. With cryptocurrency projects ranging from non-fungible tokens to decentralized finance solutions, developers trust Cardano’s platform as one of the most secure and flexible, despite Ethereum’s recent new releases.

This burgeoning reputation is attracting increasingly more developers to the platform to build new projects, leading to a potential step-change in the number of transactions being conducted on the platform and an increase in the price of ADA.

Risks of investing in ADA

A few visible threats are on the horizon for Cardano, despite its continuing high profile and high-quality offering. With the Ethereum network working at pace to develop new features, developers could turn away from Cardano in favor of the blockchain behemoth.

In addition, ADA’s high total market capitalization could limit the returns investors receive, mainly while many of the projects it hosts are in the earlier stages of their development.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

4. Ripple (XRP) – Best banking coin on the crypto market

What is Ripple?

Ripple is a well-known decentralized finance solution established in 2012 that uses its own RippleNet platform to facilitate international cross-border payments. The native currency XRP token powers the system with liquidity and as the bridge currency to generate revenues as Ripple looks to take on the relatively expensive and time-consuming SWIFT system.

XRP is cementing itself in the top ten cryptocurrencies by market capitalization. With several big-name backers, such as major global banks, either taking advantage of Ripple to fuel international payments at significantly lower costs and with transaction times in the seconds rather than potentially days or trialing Ripple’s solutions,

Why you should consider buying XRP

Many investors have been put off by the ongoing lawsuit brought by the US Securities and Exchange Commission against Ripple,which challenges XRP tokens validity as a decentralized cryptocurrency and whether it is a security. However, global financial giants continue to flock to Ripple, providing the platform that enables developers to make decentralized applications and unrivaled access to some of the most extensive banking behemoths worldwide.

This backing, along with Ripple’s existing loyal and dedicated community, has convinced many that the lawsuit will go in Ripple’s favor. If that is the case, analysts expect the price of XRP to skyrocket as more customers turn to Ripple as an alternative to the status quo.

Risks of investing in XRP

Ripple’s greatest potential strength is also its most significant risk. Although its high existing market cap may limit Ripple investors’ returns, the most significant threat is what the fallout of the lawsuit going against Ripple might provoke on the price of XRP.

With a decision expected later in 2023, this impact could be realized sooner rather than later.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

5. Solana (SOL) – Outstanding layer-1 protocol continuing to thrive

What is Solana?

Solana is a layer-1 proof-of-stake blockchain provider developed similarly to Cardano to challenge Ethereum’s monopoly as a decentralized protocols provider while offering solutions to some of the issues developers faced when using the Ethereum blockchain.

The significant difference between Solana and Cardano is its ground-breaking use of a proof-of-history consensus mechanism alongside proof-of-stake to offer excellent scalability and flexibility while proving itself cheaper, faster, and with a vastly greater transactional capacity than Ethereum in particular. Solana is one of the biggest challengers to Ethereum’s overwhelming hold on the blockchain space.

Why you should consider buying SOL

Solana’s network is powered by the native token (SOL) and has become the chain of choice for many cryptocurrency projects in recent years. One of the biggest utilizations of Solana has been in digital real estate, an area in which Ethereum still reigns supreme but where Solana’s extra scalability provides a compelling alternative for developers.

SOL is a coin that looks to have significant scope to grow its market capitalization over the coming years to challenge Cardano, particularly if it continues to attract an ever-growing number of new projects and developers to its platform. As these new projects reach maturity, the value of SOL will grow, making it an excellent long-term investment.

Risks of investing in SOL

Although Solana has disrupted the blockchain space, it has proven at times to be its own worst enemy. On several occasions, the network has been forced to halt to allow issues to be resolved entirely. A failure in the long-term to resolve these issues and provide developers with a stable network will eventually come home to roost, with projects turning elsewhere for their smart contracts consensus.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

6. Shiba Inu (SHIB) – Best currency for ETH-20 meme coins

What is Shiba Inu?

Shiba Inu is a meme coin blockchain project that took its inspiration from Dogecoin. It has developed a burgeoning and passionate supporter community of its own. As a result, the native SHIB coin has performed beyond expectations. It is now gaining traction as a governance token after developing a platform allowing users to stake in its decentralized finance3 solution.

Although meme coins often have a limited appeal to crypto fans and sometimes lack real-world utility, SHIB has stuck to its guns and performed stoically during the bear market of 2022. It has been riding the waves of extreme volatility to remain firmly in the top 20 cryptocurrencies by market capitalization throughout.

Why you should consider buying SHIB

While many crypto investors remain skeptical about the utility offered by SHIB’s native cryptocurrency, bracketing it alongside other low-value coins, fans maintain that SHIB is an excellent coin available at a considerable discount, particularly now that Shiba Inu has created a DeFi solution to fill the utility token void.

In addition, SHIB is reaping the benefits of its implementation on the Ethereum blockchain, which provides security, stability, and increased functionality thanks to Ethereum’s transition to proof-of-stake consensus.

Risks of investing in SHIB

In contrast to the buoyancy displayed by SHIB’s dedicated legion of followers, skeptics point to the highly volatile nature of meme coins in cryptocurrency markets, with significant peaks and troughs in price performance. Although Shiba Inu will look to stabilize this volatility with their DeFi solution, there is a risk that they’ve put all their eggs in one high-risk basket with no assurance of success.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

7. Polygon (MATIC) – Transformative blockchain technology enables interoperability

What is Polygon?

Polygon, formerly Matic Network, is a layer-2 blockchain solution enjoying backing from the big crypto names Coinbase and Binance. Set up to stimulate crypto adoption by resolving the ongoing scalability issues on blockchains. Polygon achieves this by combining the Plasma Framework and proof-of-stake consensus mechanism.

As a result, Polygon claims that up to 65,000 transactions per second are achievable on one of its side chains and block confirmation times of less than two seconds. This sidechain capability allows interoperability and the potential to house unlimited decentralized apps on their networks without compromising network performance.

Why you should consider buying MATIC

Polygon’s native MATIC coin is firmly established in the top 10 list of currencies by market cap. It looks to remain there for the foreseeable future as Polygon has formed partnerships with influential names, including Disney.

In addition, the release of a powerful new solution designed to improve scalability for the Ethereum blockchain makes MATIC an even more tempting prospect for crypto investors seeking good returns in 2023 and beyond.

Risks of investing in MATIC

As with any blockchain scaling solution, investing in MATIC has some minor risks. Firstly,it already has a fairly high market cap although most analysts still see good growth potential. In addition, the marketplace for blockchain scaling solutions is increasingly competitive, so there’s intense pressure on Polygon to stay ahead of the pack with its scalability options. However the Polygon team have a first mover advantage in layer-2 solutions.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

8. Dogecoin (DOGE) – Best meme coin investment

What is Dogecoin?

Dogecoin is a rarity in crypto circles, a project with a sense of humor. Initially developed as a fun alternative to Bitcoin’s gold standard, Dogecoin has developed a reputation as an accessible and enjoyable entry point for crypto newbies. Over recent years, DOGE has gained a vast and dedicated following, including Elon Musk.

Although there has been little development over this period on the project, many – including Musk – believe there are several compelling use cases for Dogecoin to investigate in the coming years. These options include the digital currency becoming an alternative to fiat currency and delivering smart contracts.

Why you should consider buying DOGE

If the backing of Elon Musk isn’t good enough for you to get your hands on DOGE, one of the cheapest coins by value but in the top 10 by market cap, the rumors that Dogecoin could switch to proof-of-stake in the future, which would help those that have environmental concerns and give the coin a boost.

In addition, Dogecoin continues to be an excellent entry point for new crypto fans while maintaining its status as a firmly established project, meaning it will be around for the long run.

Risks of investing in DOGE

Coins like DOGE are highly volatile and react to the whim and fancy of market forces more than other projects. In addition, the high market cap and vast allocation of coins help keep the DOGE price lower than a fixed supply would. This, and the low utility attached to Dogecoin, keeps a cap on the gains possible by those investing in DOGE.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

9. Chainlink (LINK) – Securing on-chain data

What is Chainlink?

Chainlink is a project that uses its native token (LINK) to enable economic incentives that allow trustless data retrieval via its decentralized oracle network (DON) and provides a solution to what is known as the oracle problem. Although Chainlink is hosted on the Ethereum blockchain, it is chain-agnostic, allowing decentralized applications and smart contracts to access data outside the blockchain.

This solution to an enormous blockchain technology problem as Chainlink has formed numerous partnerships, particularly across DeFi lenders and decentralized finance exchanges, who have quickly spotted the opportunities provided by leveraging this technology.

Why you should consider buying LINK

The LINK crypto token plays an intrinsic part in Chainlink’s operability, meaning that it is a coin that provides owners with some of the most significant levels of utility of any cryptocurrency. Trials with the international payment giant SWIFT have garnered positive results, potentially opening Chainlink up to playing a massive role in global financial payments in years to come.

In addition, requests for blockchain data will only grow in the coming years. Chainlink’s early operation in this sector will likely have a seismic effect on the value of LINK as this need continues to grow. This makes LINK an excellent crypto to invest in this year.

Risks of investing in LINK

As a well-established project, the benefits of which are already well-known, Chainlink relies on an ever-increasing number of high-profile partnerships to continue its growth. While the SWIFT partnership is an excellent starting point, alternatives could threaten Chainlink as other global financial institutions enter the cryptocurrency market.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

10. Uniswap (UNI) – Leading decentralized cryptocurrency exchange

What is Uniswap?

Uniswap is an Ethereum blockchain-hosted decentralized exchange that allows users to buy, sell and trade other cryptocurrencies without the limitations of a centralized exchange. The platform enables transfers between major cryptocurrencies using the automated market maker (AMM) trading methodology.

Users provide liquidity to Uniswap by depositing one of two crypto tokens into liquidity pools in return for a portion of transaction fees generated by the exchange. This opens access to a source of passive income to users, allowing their investment to work for them without their intervention. In addition, other crypto users gain access to the liquidity on the exchange, which benefits their access to trade other coins.

Why you should consider buying UNI

The native token (UNI) has benefited significantly from the critical role played by Uniswap in listing new and emerging currencies that haven’t reached the bigger-name exchanges. Its Ethereum-based origins have given Uniswap a highly secure and stable platform, which, combined with Uniswap’s influence on emerging projects, could see a surge occur as more TradFi companies begin to get involved in the crypto space, making the UNI token an excellent crypto to invest in.

Risks of investing in UNI

Uniswap faces the same challenges that most other established projects face. Their services are well-established and at risk of increased competition within the layer-1 blockchain cryptocurrency space. In addition, it may need help to maintain its role as the leading decentralized exchange over the coming months and years.

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.

Conclusion: What is the best crypto to invest in right now in 2023?

Several crypto coins look set to create significant returns in 2023, particularly with the projected easing of bear market conditions as the year progresses. Ethereum is one of the new favorites among industry experts and analysts. Expected to provide tremendous opportunity for the wise investor that gets involved during the presale event.

An excellent utility coin with excellent tokenomics alongside an alluring array of features, Ethereum is the obvious choice for new and professional investors seeking the best crypto to invest  in 2023.

FAQs

What are cryptocurrencies?

Cryptocurrencies are digital assets that use encryption technology to verify transactions in secure conditions using cryptography. This technology is provided by blockchains, a distributed ledger system that enables transactions validated by a network of computers.

Some cryptocurrencies are decentralized and many more hold that aspiration, meaning a central bank, government, or other central authority does not control them.

Which crypto assets will explode in 2023?

It’s always tricky to predict the best cryptocurrency of the future. However, stable crypto assets with a tight project plan, high coin utility, and excellent potential to become a leader in their chosen sector are usually selected by investors looking for the subsequent exponential crypto assets growth. Ethereum is one such project that looks set to become a leading crypto project in the coming years.

Which is the best crypto to buy today for the short term?

Ethereum is one of the best crypto projects set to produce excellent short-term returns thanks to its low presale price and fixed supply of tokens. XRP also looks like a perfect short-term option, thanks to its finance technology and the backing of already-established institutional investors.

Which crypto has the most long-term investment potential?

The world of crypto is evolving at a rapid rate, and making predictions for the best cryptocurrency for the long term can be difficult. However, the blockchain sector is forecast to proliferate over the coming years. This provides stable blockchain platforms like Ethereum with excellent long-term investment prospects.

What is the best crypto to invest in now during 2023?

The key to finding the best cryptocurrencies to invest in this year is the same every year. Finding the highest potential projects at the lowest risk value is critical. Stable projects that enable developers to build and evolve the ecosystem will encourage continual growth over the coming years. Any cryptocurrency that incorporates steady growth plans into its roadmap will almost always be the best crypto to buy now.

 

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Cryptoassets are a highly volatile unregulated investment product. No EU  and UK investor protection. Your capital is at risk.