The time taken for a transaction to clear is relatively fast(15 seconds) as compared to bitcoin(BTC) but the transaction fee still remains high. Its superior technology, ease to use and high security makes it a top choice for both investors and users.
3. TetherUS (USDT)
●Year established: 2014
●Market cap: $66 billion
●Price per TetherUS: $1
TetherUS (USDT) is a totally different type of cryptocurrency. USDT’s crypto coins are like traditional currencies like UDS, euro, pound, and yen.
USDT is more of a medium of exchange and mode of storage of value than a medium of investment.
4. Binance Coin (BNB)
●Year established: 2017
●Market cap: $49 billion
●Price per Binance coin: $307
Binance coin(BNB) is a cryptocurrency from the Binance crypto exchange. Binance crypto is the world’s largest crypto exchange with 1.4 million transactions per second since 2018. BNB has increased by 860% this year(2023) and become the cryptocurrency with the 4th largest market cap of almost $38 billion.
Investing in BNB comes with its own special perks like a special discount while paying at the Binance crypto exchange with BNB.
5. USD Coin (USDC)
●Year established: 2018
●Market cap: $43.5 billion
●Price per USD Coin: $1
USD Coin (USDC) is a stablecoin, which is a type of cryptocurrency that is pegged to the value of the U.S. dollar. This means that for every USDC in circulation, there is a corresponding U.S. dollar held in reserve. This helps to minimise the volatility that is commonly associated with other cryptocurrencies, such as Bitcoin.
USDC is an ERC-20 token, which means it is built on the Ethereum blockchain. USDC was developed by Circle, a fintech company that aims to create a more open and accessible global financial system.
It is used as a medium of exchange on various platforms and can be traded on various cryptocurrency exchanges.
6. XRP (XRP)
●Year established: 2012
●Market cap: $20 billion
●Price per XRP: $0.40
XRP’s main focus is to take out the high cost of the inter-bank transfer. Due to its real-time uses, XRP is considered the top choice of investors in 2023.
In recent years XRP has become one of the top choices for many financial institutes around the globe and becoming an alternative for the SWIFT network.
7. Binance USD (BUSD)
●Year established: 2019
●Market cap: $16.5 Billion
●Price per Binance: $0.99
Binance USD (BUSD) is a stablecoin that is pegged to the value of the U.S. dollar. Like other stablecoins, BUSD aims to minimize the volatility that is commonly associated with other cryptocurrencies by having a corresponding U.S. dollar held in reserve for every BUSD in circulation.
BUSD is an ERC-20 token built on the Ethereum blockchain. Binance, one of the largest cryptocurrency exchanges in the world, is the issuer of BUSD. Binance USD can be traded on the Binance exchange and used as a medium of exchange on various platforms.
It is a popular choice for traders who want to move in and out of different cryptocurrencies and stablecoins quickly without being affected by the volatility of the crypto market.
8. Cardano (ADA)
●Year established: 2017
●Market cap: $12 billion
●Price per Cardano: $0.35
Cardano(ADA) is the most advanced third-generation cryptocurrency. It has a lot of upside potential in 2023. ADA runs on the Cardano network which helps it to make smart contact while keeping track of payments like bitcoin and has fast transitions like ethereum.
ADA is the fastest growing cryptocurrency in the market as it only took less than 4 years to hit the market cap of $38 billion which is less than one-third the time BTC took for the same.
9. Dogecoin (DOGE)
●Year established: 2013
●Market cap: $11.5 billion
●Price per dogecoin: $0.087
Dogecoin (DOGE) is a cryptocurrency that was created as a joke in 2013, inspired by the popular "Doge" internet meme featuring a Shiba Inu dog. Despite its origins, Dogecoin has gained a significant following and has become a legitimate cryptocurrency with a market capitalization in the billions of dollars.
Dogecoin is based on the same technology as Bitcoin, known as a blockchain, which records all transactions on the network. However, Dogecoin has a faster block time and a higher maximum supply than Bitcoin. Dogecoin is used primarily as a means of online tipping and for small transactions, rather than as a serious investment.
However, its price has been known to be highly volatile and it has experienced significant price fluctuations in the past.
10. Polygon (MATIC)
●Year established: 2017
●Market cap: $8.5 Billion
●Price per Polygon: $0.98
Polygon (MATIC) is an Ethereum scaling solution and a layer 2 blockchain network. It aims to solve the scalability issues of the Ethereum blockchain by allowing for faster and cheaper transactions.
Polygon uses a technique called "Plasma" which allows for the creation of side chains that operate parallel to the main Ethereum chain. These side chains can handle a large number of transactions, which reduces congestion on the main Ethereum network. This allows for faster and cheaper transactions, which makes it more attractive for decentralized apps (dApps) and other use cases that require high throughput.
Polygon is built on a proof-of-stake consensus mechanism, which allows for more energy-efficient mining compared to the proof-of-work mechanism.
MATIC is the native token of the Polygon network, and it is used for paying transaction fees, participating in governance and staking.
So this was our list of the top 10 cryptocurrencies to invest in 2023. Please let us know what you think about it and make sure to leave your suggestions in the comment box below.
If you enjoy reading this blog and want to stay updated about our latest blogs then subscribe to our free newsletter.