Over the period, cryptocurrency has gained significant popularity among investors, especially young investors. This currency has emerged as a new and high-return-giving investment asset with higher volatility than any other investment class. The year 2022 has been an unfruitful ride for all the cryptocurrencies available in the market. People around the world somewhere distrusted the credibility of cryptocurrency and its market. News and incidents, like the downfall of FTX, have brought the entire market to new lows.
Such sentiments and incidents raised too many questions in investors’ minds, but even after such a rollercoaster ride, we cannot consider the cryptocurrency investment a forged investment. We cannot ignore the fact that cryptocurrency is not going anywhere to end. Cryptocurrency has a higher chance to grow exponentially than ever before in 2023. The significant downturns in the value of cryptocurrency can be considered investment opportunities.
In this article, we will know the best cryptocurrency for investment in 2023, with some constructive and factual information.
Presently, more than 5000 cryptocurrencies are available in the crypto-market for trading and transactional purposes. And there will be no exaggeration to say that Bitcoin is one of those cryptocurrencies that introduced the concept of cryptocurrency to the world. Bitcoin initially started trading at the price rate of US $0.0008 per coin, and this cryptocurrency touched its all-time high price in April 2021.
It wouldn’t be wrong to say that Bitcoin is the best cryptocurrency for investment in 2023. The market capitalisation of Bitcoin comprises nearly one-third of the total market value of the entire crypto industry. Bitcoin is the sole foundation of the cryptocurrency market, and it wouldn’t be wrong to say that the whole cryptocurrency market is somewhere dependent on the growth of Bitcoin. Bitcoin has seen frequent downturns in 2022 because of various negative news and sentiments around the market. Along with all these odds, we cannot avoid the fact that before 2022, Bitcoin has shown constant growth and given us massive returns on our investments.
Bitcoin is the first and most valued cryptocurrency in terms of popularity, market valuation, and trading volume. Even after frequent downfalls, many institutions, companies, and even governmental authorities have legalised Bitcoin on their platform to utilise their services. All these facts and the past performances of Bitcoin make it the best cryptocurrency for investment in 2023.
Without mentioning Ethereum, this blog might not be considered authentic. Ethereum has its blockchain network that is leveraging many other cryptocurrencies to flourish and grow. Even after the significant downturns, Ethereum is still floating at a decent price rate. And the user base of this coin is still unchanged, and even new investors have shown their interest in Ethereum. The unique and robust strategy of Ethereum makes it one of the best cryptocurrencies to invest in 2023.
Ethereum is the most desired and second largest cryptocurrency in terms of market valuation and popularity after Bitcoin. Along with Bitcoin, Ethereum has also come under the grip of negative sentiments and faced panic sell-off frequently over each negative update in 2022. Ethereum was launched in 2015 and has grown exponentially over time. And over the passing period, this coin has given massive returns to investors over the years before 2022.
In recent years, the value of the Shiba INU has grown multiple times. And even after the massive downfall in 2022, the Shiba INU has still managed to float at a value of more than 100 thousand times of launch price. The stats of Shiba INU seems astonishing, but a total supply of 1 quadrillion tokens creates a space of doubt in investors’ minds. However, the creator of Shiba INU has already burned 500 trillion coins.
A penny cryptocurrency, Shiba INU, is a relatively new cryptocurrency launched in 2020. Despite its short history, it has quickly gained a large following due to its unique branding and playful mascot, a Shiba INU dog. And if we see the performance, Shiba INU has shown impressive growth, with a market capitalisation of over US $6 billion and a daily trading volume of around US $1 billion. It has also gained the attention of investors for using the Ethereum network and its smart contracts. Shiba INU has a strong community of supporters, and with its strong performance history, this coin can be considered the best cryptocurrency for investment in 2023.
Binance Coin was launched by Binance exchange, the leading crypto exchange in the world, in 2017 through an initial coin offering. After the successful launch of the ICO, Binance coin has grown exponentially multiple times. Even after the massive downfall in 2022, we cannot ignore the fact that Binance Coin has the strong backing of the largest crypto exchange in the world. The Binance exchange itself makes Binance Coin the best cryptocurrency to invest in 2023, with its strong user base and financial backing.
Binance Coin has a market capitalisation of over US $60 billion and a daily trading volume of around US $3 billion, making it one of the most valuable and widely used cryptocurrencies. It is useful on the Binance platform for many purposes, including paying trading fees, participating in lending and staking programs, and more. Binance Coin has high liquidity and can be easily bought and sold on the Binance exchange. These unique features are making BNB the best cryptocurrency for investment in 2023.
ZepCoin is the Metaverse crypto coin introducing its Metaverse platform, Zepverse. The Metaverse has gained popularity in recent years for its unique features and futuristic approach. Metaverse is the virtual world, combining most of the advanced technologies, including virtual reality, augmented reality, blockchain technology, artificial intelligence, machine learning, etc. The Metaverse, a visual representation of human imagination, allows users to communicate with one another and engage in several activities like meetings, shopping, gaming, entertainment, and more.
ZepCoin, a penny cryptocurrency, was launched by a team of blockchain and crypto enthusiasts in October 2022 at the price rate of US $0.0001 per coin. Since its launch, ZepCoin has grown multiple times. ZepCoin has managed to attract investors worldwide even when the market was facing a panic sell-off. With a current market valuation of more than US $300 million and with a unique and robust roadmap, ZepCoin seems the best cryptocurrency for investment in 2023.Read More
