Top Cryptocurrencies to Invest in 2023
Updated on January 9, 2023 | by Austin
Cryptocurrency is like shares as you need to buy them at a lower price and sell when the price rises so you make a good amount of profit. Cryptocurrency has been in talks since 2009 with Bitcoin being the most famous and first cryptocurrency. Cryptocurrency is a new-age digital currency programmed through blockchain technology. Investing in cryptocurrency has made many people millions of dollars. It is legal in some countries while some countries haven’t still accepted the trading of cryptocurrency. Nowadays some companies are taking cryptocurrency majorly bitcoin as payments for their services or products. After bitcoin, many other cryptocurrencies started coming out in the market for trading.
Bitcoin was started by Satoshi Nakamoto who is known to be Japanese. People were not aware of bitcoin when it came into the market. From a fraction of a penny to $0.09 it jumped into 2010. After that, it slowly grew and reached high prices but the price drop also happened which affected the market. It was difficult for people to trust bitcoin at the start until it became popular after 2017. There are apps like Bitcoin Era Trading App which can help investors to know who to invest their money in cryptocurrency. After bitcoin, there are many cryptocurrencies in the market but the most trusted is bitcoin.
Another popular name after Bitcoin is Ethereum. Ethereum was started by Vitalik Buterin in 2013. In 2015, one Ethereum was for $1.19 and slowly it grew to $3,779.15 today. The price graph of Ethereum wasn’t steady. It touched its peak prices and the prices crashed badly. Smart contracts make it more functional. Ethereum has given profit to investors who have brought and held it for years now. Investors who sold it when prices were down and were pessimistic towards its growth surely made a loss.
Binance coin was launched in July 2017 by Changpeng Zhao. Today the market value of a Binance coin is $528.16. In recent months, the price fluctuations have not been extreme. Binance has managed to be the world’s largest cryptocurrency exchange in trading in terms of the volume of cryptocurrencies. In some countries, the trading and usage of Binance coins are restricted. On the other hand, Binance coins are used as a mode of payment in a few countries.
In 2014, the cryptocurrency Realcoin was launched, whose name was changed to Tether. They started their trading of tether in 2015. It was founded by a start-up having four co-founders Santa Monica, Reeve Collins, Brock Pierce, and Craig Sellars. The price of the Tether is $1.00 but its market cap is $76 billion. The tokens are unregulated in a few countries though cryptocurrency exchange and trading of Tether take place as it’s known as Stablecoin. Stablecoin is a coin with price consistency.
Solana was officially launched in 2020 especially for small contracts and decentralized apps. In 2018 Solana was founded, it’s a startup company Solana Foundation which launched Solan through blockchain technology. Today’s market price of Solana is $155.99. It was at the lowest when it started and it is growing at a slow pace. Solana is used for the exchange of different cryptocurrencies apps.
The co-founder of Ethereum Charles Hoskinson founded Cardona in 2015. The trading of the token started in 2017. The price is $1.23 today. Investors say it’s safe trading the Cardona coins as they are supported by strong fundamentals and the founder has great success as Ethereum. The market cap of Cardona is $42 billion. It is accepted as a safe cryptocurrency by many countries.
You can find several cryptocurrencies these days. If you compare stocks and cryptocurrencies the major difference is that the stock’s price fluctuates according to the business and cryptocurrencies don’t have a major reason that it fluctuates. Before investing in cryptocurrencies it’s always better to study the market in-depth and then invest your money. If you are a new investor in the cryptocurrency market then you should invest an initial amount that you can afford to lose. Trusting all cryptocurrencies is not easy as the prices can fall at any time so investing money with proper research is always better.