• Tue. Apr 23rd, 2024

5 Crypto Coins You Must Follow In 2023

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Mar 14, 2023

The crypto market has gone through a very difficult run over the years. Even though the past year has not been great for crypto investors looking for price gains, the current market has the potential to be an amazing investment opportunity. This is if you consider the principle of purchasing at a lower level and selling at the peak. The current market presents an incredible opportunity for investors to build their positions in the market and purchase at a heavily discounted price. Many great coins are fundamentally growing strong, and sitting way below their all-time highs in valuation. Below are five Crypto coins that you should watch out for in 2023.

Bitcoin – BTC

Bitcoin has been a valuable digital currency for a very long time, and it still reigns supreme for people that want to make a safe investment in the crypto market. A valuable cryptocurrency that gains success has a very good use case, and the use case for bitcoin is very relevant, even to this day. Bitcoin was initially an electronic cash system that operated on a peer-to-peer basis, but due to its exclusivity, it became a highly attractive prospect for investors. Today, it is one of the biggest stores of value currency in the crypto market.

In the past years, the Feds have been printing paper money at a very high rate. The US Federal Reserve has printed the majority of the paper currency that is in existence. Since then, people have witnessed the impact of all the debt that is circulating in the nation and this is resulting in alarming inflation. The world is in crisis and very few countries are economically strong. This excessive printing of money exposes the flaws of central currency and elevates the importance of decentralized currency, such as Bitcoin.

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Bitcoin was also the first cryptocurrency that existed, so it has great brand loyalty to the crypto industry. It has still secured its spot at the top of the crypto market since its release. For this reason, it is still a very good investment to make in 2023.

Ethereum – ETH

Ethereum is the second biggest cryptocurrency if you consider market cap. While bitcoin has a much bigger market share, many people argue that Ethereum will have a higher return on investment in time. Ethereum has a much more widespread use case when compared to bitcoin. Ethereum is the foundation network for multiple crypto-currency projects in the space. It is also the superior blockchain on which most NFT projects operate. This is why many would argue that it is much more popular than even Bitcoin, considering that there were 338% more transactions of Ethereum than bitcoin in 2022.

The fundamentals and use cases of Ethereum have been greatly consistent, and have evolved rapidly. For instance, Ethereum completed the long-awaited Merge, which means that it has successfully transitioned to becoming an entirely proof-of-stake (PoS) model, where first it was a proof-of-work model. By becoming proof-of-stake, Ethereum can now respond to the criticism of being a carbon-heavy operation.

Proof-of-stake means that you no longer have to set up energy-consuming machines to mine Ethereum, making it a carbon-friendly enterprise. Ethereum is now more energy efficient, and comes with a much lower gas fee cost than before, making it a worthy prospect when it comes to cryptocurrency investments.

Ripple – XRP

XRP is the native cryptocurrency of the Ripple payment protocol, which is a real-time settlement system currency exchange. Ripple is also an excellent source of remittance networks. This cryptocurrency first stepped into the market in 2012, from the company Ripple Labs. The token is incredible for providing swift and low-cost cross-border transactions. The use cases of the XRP ledger make this coin unique.

These ledgers are permissionless, open source, and decentralized technology, and come with an incredibly low fee of .0002 cents. When you pair this with high-speed processing of 3.5 seconds per transaction, along with its carbon-neutral and efficient transaction methods, you get a crypto coin that can soar high in the following years. The ripple community is passionate and strong, and this makes the coin a great coin that you should shortlist.

Avalanche – AVAX

This blockchain provides a platform for custom blockchain networks and apps built with the concept of decentralization at the core. This coin is a favorite amongst the crypto veterans and blockchain community. Many people put it as a viable alternative to Ethereum. It has a unique solution to the blockchain trilemma. This trilemma highlights the three aspects of a perfect blockchain, which are scalability, decentralization, and security.

Finding a balance between these three has not been possible with blockchains. For instance, a blockchain that is highly decentralized and scalable does not provide the best security, and vice versa. Avalanche provided a solution that solves this trilemma by proposing three different blockchains, and as this project progresses in the long term, it can see high valuation in the future.

 Cosmos – ATOM

Atom has a unique and innovative blockchain that solves some of the most difficult issues in the crypto industry. For instance, it can tackle slow speeds, scalability, high-cost issues, energy inefficiencies, and more. Apart from this, ATOM also aims towards making blockchain technology more user-friendly for developers with the help of the Tender Mint Engine. This is part of the network that allows engineers and developers to build blockchains without coding them from scratch.

ATOM allows you to build a network from an already-existing code. The ability of easy network construction is a new-found appeal in 2023, especially with website-building software gaining traction. For this reason, this crypto coin is a great asset to look out for in 2023.

Conclusion

The above-mentioned crypto coins are a few of the many great investments that you can hold in the year 2023. Many projects have seen a slump in performance, and also many sketchy exchanges and coins that have been exposed. This means that the coast is clear to make safe investments. Not to mention, many over-valued coins are now hovering at lower price points. All these indications are good signs for new investors that are looking to dip their feet into the crypto game.

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