Cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have done incredibly in the past few years. Their value has increased manifold and is considered a solid token for long-term investment.
But are these the only crypto coins you should be looking out for in 2023?
Experts believe over 10,000 cryptocurrencies are available on the blockchain for investment. Each cryptocurrency comes with its versatile characteristics and offers a remarkable investment opportunity.
Thus, investing in multiple cryptocurrencies can be beneficial for your crypto portfolio but only if you pick the right coins.
Let us find out which altcoins you should consider for the coming year.
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What is an Altcoin?
If you explore the history of cryptocurrency, you come to know about the dominance of Bitcoin. Without an iota of doubt, BTC has withstood the test of time and emerged as the world’s largest cryptocurrency by market capitalization.
So, what altcoins are basically about?
An altcoin can be defined as cryptocurrency beyond Bitcoin, or you can say any cryptocurrency other than BTC is an altcoin or an alternative coin.
Altcoins present a remarkable opportunity to diversify your crypto investment and you can buy as many coins as you like. Altcoins such as Ethereum have become extremely popular over the past few years and are considered the best alternative to BTC.
Altcoins are supported by blockchain technology, and they too are decentralized coins like BTC. Neither a bank nor any government can interfere with your altcoin wealth, and you are its sole owner and manager.
With altcoins, you can make a quick transaction at any time and that is also at a lesser cost than a bank transaction. In addition, altcoins are working 24/7 for the enhanced convenience of their users.
Carl Runefelt, alias, The Moon, is among those global crypto leaders who believe in cryptocurrency replacing Fiat or traditional currency in the future.
He emphasizes, “We have seen altcoins rally very, very strongly in the last few months. I think we will continue to see that. I think the likely scenario is that we will continue to see altcoins rise before Bitcoin peaks.”
Altcoins to Buy in 2023
The popularity of cryptocurrency is increasing each day as it has shown the potential of changing the existing financial system. Cryptocurrency is a wild dream and altcoins offer the best way to enter the crypto market if you cannot buy Bitcoin.
Here are some of the best altcoins you can buy in 2023.
Cardano is one of the leading altcoins supported by crypto experts for long-term investment. You can easily buy ADA today because it is valued at around just U.S. $0.26.
ADA is defined as an open source blockchain that is more flexible, scalable and extremely safe. It is believed to be a vital part of a digital currency landscape that provides excellent leverage for growth.
You might have heard crypto investors talking about Solana a lot these days. It is labelled as one of the tops “Ethereum Killers” due to its amazing efficiency and scalability.
SOL is taken as one of the most sought-after blockchain tokens, especially for the non-fungible token (NFT) market. It is already beating ETH in terms of daily transactions and is destined for further success.
You can buy one SOL for U.S. $11.93 as of December 2022.
Did you ever think of buying yourself land in the virtual world?
Decentraland presents an exciting opportunity for those investors who want to get big on the metaverse. With MANA, you can buy land and build your experience in the virtual world.
You can host exciting events with MANA on the metaverse such as art galleries, digital stores, and more. You can buy one Mana for U.S. $3.15 as of December 2022.
Decentralization has already been favored by many financial experts in the wake of the financial crisis. A decentralized system with zero bank intervention is supported by many around the world.
Cosmos is an altcoin that is transforming blockchain. With ATOM, you can easily design highly specialized blockchains to create applications across multiple industries.
ATOM eases interaction between different blockchains for enhanced convenience of crypto users. This makes the crypto industry more interconnected and effectively reduces previous complexities.
You can buy Cosmos for U.S. $8.8 as of December 2022.
For those looking to increase their crypto wealth, altcoins are one of the best ways to do it.
2022 has so far not proved to be a remarkable year for the crypto market but always remember that cryptocurrency has bounced back strongly after such bearish runs.
You can pick any altcoins from the above-mentioned list and start your investment today to earn maximum profit with cryptocurrency in 2023.