Cryptocurrencies have become a popular investment option in the past years and there are over 21,000 cryptocurrencies in the world.
Some of them include Bitcoin, Ethereum, Litecoin, Ripple, Petro, Tezos, Libra, Dash, Verge, Cardano, Penny, and more. But with so many options available to choose from, it can be difficult to pick the best cryptocurrency to buy.
Investing in any cryptocurrency can be a difficult decision to make, especially if you’re just starting out in the crypto world. Even expert investors have to make in-depth research before they eventually invest in any cryptocurrency.
This article will show you the best cryptocurrency to buy in 2023, even if you’re a newbie investor. It is important to know each of these cryptocurrencies well.
10 Best Cryptocurrency to Buy
1. Bitcoin
Market Cap: $336.20 B
Bitcoin is an open-source digital currency that uses peer-to-peer technology to operate with no central authority or banks. It was created in 2009 and nobody owns or controls Bitcoin. It is the most widely known and traded cryptocurrency in the world.
Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. As of 2023, it is one of the best cryptocurrencies to buy.
Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of March 1, 2022, a single Bitcoin’s price was over $44,000. That’s a growth of about 7,800%.
2. Ethereum (ETH)
Market cap: $163.42 B
Ethereum is a decentralized, open-source blockchain that is second to Bitcoin in market capitalization. It was created in 2013 by Vitalik Buterin and is the second-largest cryptocurrency by market capitalization.
Ethereum is both a cryptocurrency and a blockchain platform. 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 enables smart contracts and decentralized applications to be built and run without any downtime, fraud, control, or interference from a third party. Due to its impressive growth, it is one of the best cryptocurrencies to buy.
3. Tether
Market cap: $66.29 B
Tether is an asset-backed cryptocurrency stablecoin. It was created in 2014 by the company Tether Limited Inc. owned by the Hong Kong-based company iFinex Inc.
They are the most widely adopted stablecoins meaning it’s backed by fiat currencies like U.S. dollars and the Euro.
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.
4. Binance Coin (BNB)
Market cap: €45,771,002,498
Binance Coin (BNB) is the cryptocurrency issued by the Binance exchange. In Quarter 2 of 2022, Binance exchange was the largest cryptocurrency exchange in the world with a volume of $7.6 billion.
The Binance Coin is a form of cryptocurrency that you can use to trade, pay fees and also book travel arrangements on Binance, one of the largest crypto exchanges in the world Binance coin remains the best cryptocurrency to buy.
In 2017, BNB’s price 2017 was just $0.10. By the beginning of March 2022, its price had risen to around $413.
5. Ripple XRP (XRP)
Market cap: $19.097 B
XRP is Ripple’s (a digital technology and payment company) native token and one of the best cryptocurrencies to buy now. XRP has a currency code similar to Ethereum’s Ether (ETH).
XRP can be used to ease exchanges of different types of currency including fiat currencies and other major cryptocurrencies.
It has a strong team and partnerships with major financial institutions, which makes it an attractive option for those looking to invest in the fintech space.
At the beginning of 2017, the price of XRP was $0.006. As of March 2022, its price reached $0.80, equal to a rise of more than 12,600%.
6. Terra (LUNA)
Market cap: $988.47M
Terra is a blockchain platform built on the Tendermint consensus algorithm. The platform’s native token is called LUNA, which is used to pay transaction fees and can also be staked to earn rewards. The goal of Terra is to enable fast, low-cost transactions and to provide a stable and decentralized alternative to traditional payment methods.
Terra is a blockchain and payment platform used for algorithmic stablecoins. It was created in 2018 by Terraform Labs.
From Jan. 3, 2021, when its price was $0.64, to the beginning of March 2022, Luna has risen over 14,200% to $92.
7. Cardano (ADA)
Market cap: 11.295B
Cardano is an open-source, decentralized public blockchain platform with consensus achieved using proof of stake.
It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. Cardano’s development began in 2015, led by Ethereum co-founder Charles Hoskinson. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins.
8. Solana (SOL)
Solana is a public blockchain platform with smart contract functionality designed to host decentralized, scalable applications. It is one of the best cryptocurrencies to buy.
It was founded in 2017 and is an open-source project. Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum. Solana runs on unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely.
9. Polkadot (DOT)
Market Cap: $5.87B
Polkadot is a cryptocurrency and also a multi-chain network that allows for interoperability between different blockchain platforms. It is designed to allow blockchains to exchange messages and perform transactions with each other.
Polkadot was founded in the year 2016, it allows data exchange and all processing transactions for para chains without compromising their security.
The exciting feature of DOT is that it has no hard limit on its total supply. Rather, a new token is constantly in circulation.
It aims to create a decentralized web where different blockchains can communicate and exchange information, making it an attractive investment opportunity for those interested in the interoperability and Web3 space.
10. Litecoin (LTC)
Market Cap: $6.10B.
Litecoin is a decentralized peer-to-peer cryptocurrency and open-source software project launched in 2011. In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase.
Despite the fact that it has similarities with Bitcoin, it is developed to have a faster transaction confirmation time. It is the 21st largest cryptocurrency in the world.
It is considered to be a faster and more lightweight version of Bitcoin, making it a popular choice for those looking to trade and invest in digital currencies.
The Takeaway
The best cryptocurrency to buy depends on your financial goals and risk tolerance. While Bitcoin is currently the most well-known and widely adopted cryptocurrency, other options such as Ethereum, Litecoin, and Polkadot also have strong potential for growth. It is important to conduct thorough research before making any investments in cryptocurrency.
In addition to considering one’s financial goals and risk tolerance, it is also important to take into account the technology and team behind the cryptocurrency. It is also important to be aware of any regulatory changes or potential legal challenges that may impact the cryptocurrency.
In short, there is no “one-size-fits-all” answer to the question of the best cryptocurrency to buy. It is important to conduct thorough research, consider one’s financial goals and risk tolerance, and take into account the technology and team behind the project as well as its potential real-world applications.
Nevertheless, the best cryptocurrency to buy now has been listed in this article. You can get started now.
