Cryptocurrencies had dramatic growth in 2021. The volatile crypto market and the number of diverse crypto coins are attracting many investors. The faster and unlimited transactions are another feature that makes cryptocurrencies widely popular. However, the wide selection of crypto coins available in the market may confuse them when it comes to buying one or diversifying their portfolios. Here are the best cryptocurrencies that offer good investment scope for the year 2023.
- Bitcoin
Bitcoin was created by Satoshi Nakamoto in 2009. Bitcoin also uses blockchain technology like every other cryptocurrency. The transactions will be recorded in the smart ledger distributed over a network of computers. New blocks added to the ledger will be verified through cryptographic puzzles.
- Ethereum
Ether token is the native of Ethereum and it is based on the Ethereum blockchain. It is considered to be one of the most valuable cryptocurrencies in the market. Ethereum helped in bringing innovations to the usage and security of blockchain.
- Cardano
Fast transactions and the flexible network is the main reason behind the popularity of Cardano. It is environment-friendly compared to the other cryptocurrencies in the market. Cardano has been showing its presence in different industries worldwide.
- Tezos
Tezos is a popular cryptocurrency that boosts the social engagement of crypto investors in the highly volatile crypto industry. It is an open-source platform that eliminates all the hurdles for the adoption of blockchain technology for digital assets as well as applications.
- Binance Coin
Binance Coin is the native coin of the popular crypto exchange, Binance. It can be used to pay fees and to trade on Binance. It is also used for various purposes like booking travel tickets, payment processing, trading, etc.
- Solana
booking travel claims to have a decent market share and aims to gain a position in the DeFi world. Solana is built on its blockchain network and uses the SOL token, the native coin of Solana. The transaction fees of Solana are lower, which attracts investors.
- Polkadot
Polkadot is a PoS cryptocurrency that delivers interoperability among various blockchains. They are built to connect both permissionless and permissioned blockchains along with oracles to help systems to operate under a single umbrella. The relay chain of Polkadot is considered to be its core component and it helps the interoperability of various networks.
- XRP
XRP is a prominent cryptocurrency that offers low transaction fees as well as fast transactions. The company behind the XRP coin is Ripple. The technology of Ripple is used by numerous banks for carrying out transactions.
- Avalanche
Avalanche is considered to be a layer-one blockchain as it enhances the base protocol for making the system even more scalable. It is considered to be a competitor of the popular cryptocurrency Ethereum and was developed by Ava Labs.
- Dogecoin
The creation of dogecoin is quite different from all the other cryptocurrencies in the market. It was made in a satirical way to mock bitcoins. However, the popularity received by the meme increased its value and was widely accepted as a crypto coin.