What started as a “fake currency market” is now a digital economy worth trillions of dollars. Over the years the cryptocurrency market has generated immense popularity and market value for itself with the constant addition of new cryptocurrencies that keep getting introduced in the market every day.
The people who invested early in some of these cryptocurrencies are crypto billionaires now thanks to the gigantic amounts of returns they got from their investments. Their success has inspired legions of investors around the world to invest in cryptocurrency and if you wish to be one of them, then you can visit here to do so.
That being said, being a new cryptocurrency investor in 2023 is particularly hard simply because of the amount of cryptocurrencies there are on the market. There are over a thousand of various cryptocurrencies and their tokens in the crypto market and choosing one particular token out of them for investments is a difficult choice, especially considering the volatility cryptocurrencies are known to have.
If you too are one of these investors who is still confused on which cryptocurrency to invest in, then don’t worry because we have you covered. In this article, we will be listing 7 of the most valuable cryptocurrencies available on the market right now that we recommend you invest in right away. Read the article till the end so that you don’t miss out on these crucial details.
Bitcoin (BTC)
There is hardly any person in the business world that is not familiar with the term “bitcoin” today. Bitcoin is considered to be the king of the cryptocurrency market with its gigantic value as a commodity and its amazing growth rate. When bitcoin started out in 2009, it only had a value of a few cents. Today, that same bitcoin crossed the $60,000 price bracket in mid 2021, proving itself to be one of the most valuable cryptocurrencies in the world again.
While Bitcoin is prone to dramatic rises, it is also prone to equally dramatic falls after the most inconsequential news events such as Elon Musk refusing to accept Bitcoin for Tesla and China’s Bitcoin ban. Despite that volatile nature, we still recommend BTC as our first choice when it comes to investing in the cryptocurrency world.
Ethereum (ETH)
Ethereum is the second largest cryptocurrency after Bitcoin and is considered to be a cryptocurrency of the future with its amazing growth rate in the recent few years and also the potential of its blockchain platform. The Ethereum network itself is responsible for the creation of many independent tokens and cryptocurrency coins.
Not only that, but the blockchain platform has allowed people to sell their virtual content as NFTs which can generate immense revenue as commodities. If you want to check out one the hottest NFT markets we suggest checking out the Digital Eyes Market. Experts predict that continued innovations like these can boost the currency’s value even more and topple Bitcoin off as the biggest cryptocurrency in the world. Due to this amazing future growth, Ethereum will always be a good cryptocurrency to invest in no matter how the market goes.
Cardano (ADA)
While a relatively newer cryptocurrency coin, Cardano is still the third largest cryptocurrency in the world after Bitcoin and Ethereum in terms of total market value. The major reason behind its success has been the proof-of-stake protocol it follows that consumes significantly less energy than Bitcoin and Ethereum’s proof-of-work protocol does.
Many people believe that Cardano’s ADA and Ripple’s XRP are the cryptocurrencies of the future because of their minimal power consumption and eco-friendly nature that doesn’t damage the environment as much as Bitcoin does. Because of Cardano’s eco-friendly protocol system and fast transactions, the cryptocurrency has seen an immense growth of approximately 10,000% over the last four years making it one of our top investment choices.
Binance Coin (BNB)
Binance coin is one of the most unique cryptocurrencies out there simply because of the fact that it was not created to be your standard cryptocurrency in the first place and was instead created as a token to facilitate transactions on Binance, one of the world’s largest cryptocurrency exchange platforms.
The reason behind the coin’s immense value success is its shift to its own blockchain network and the annual burning that occurs on the network to cut its own supply of coins to effectively half. The cryptocurrency has seen an immense value increase in recent years and has had a growth rate of over 1000% this year alone.
Dogecoin (DOGE)
Dogecoin was created by its founders in 2013 as a “meme currency” to show how anyone could create a cryptocurrency on the blockchain network as a joke. Well, the cryptocurrency is not a joke anymore especially considering the immense value growth it has had over the last few years.
This growth has been solely because of specific investors who revived the cryptocurrency into relevancy again and made it a popular investment choice for investors. The growth rate has been so immense that earlier this year, DOGE crossed the value mark of 20 cents. While this may not sound much, when you consider the coin started with a value of only $0.0002 and has had a value growth of over 100,000%, you realize why the cryptocurrency is such a popular option for many prominent investors out there that support it like Elon Musk.
Ripple (XRP)
XRP was first created by Ripple, its parent company, as a PoS (proof-of-stake) protocol token to facilitate transactions on Ripple’s digital network for exchanging the various types of cryptocurrencies and fiat currencies with each other. Fast forward a few years later and XRP is the sixth largest cryptocurrency market in the world with a total market value of over $40 billion.
XRP is an immensely popular choice for investors that want to invest in PoS cryptocurrencies like Cardano. The digital nature of the platform, its ability to complete superfast transactions, and its value growth of over 15,000% in the last few years has made it an amazing investing option.
Conclusion
There are several cryptocurrencies out there that can prove to be immensely valuable options for investing in the cryptocurrency market. We hope this article was insightful in discovering most of them and if it was, please consider following our website for regular updates as it will help us out immensely.
