The new year 2023 is coming up very soon, which means that unrest has already begun in the cryptocurrency market. Some see a bottom at $5,000 per bitcoin, others believe in a rebound at $10,000. In this article, we will talk about promising cryptocurrencies for the next year.
First of all, you need to remember that cryptocurrencies are not a traditional financial market. They sometimes behave in an atypical way. For example, in the past, instability on the planet created a demand for cryptocurrencies. Today, the situation is reversed – instability in the world reverberates in the form of the collapse of the cryptocurrency market.
You should also not pay attention to the information noise. Most often, large market participants buy on negative news, which is clearly indicated by on-chain indicators of cryptocurrencies. By the way, you can pay with cryptocurrencies in some casinos, for example, in https://www.playamo.com/en-ZA.
The main rule for you is the rule of weighing all risks. You should always study projects on your own, evaluate them, evaluate their prospects, select the weight of assets in the portfolio. Remember that no one will do all the work for you, you also risk your money, you should always be aware of this.
This implies another basic rule – in no case should you buy cryptocurrency with leverage. Otherwise, the risks will be too high, and all your investments may one day go down the drain. The top of the most promising cryptocurrencies consists of fundamentally strong coins, but you should never buy them with leverage.
What are the risks to be aware of when investing in cryptocurrencies?
It is worth remembering that the sphere of cryptocurrencies is not regulated by anyone. You will not be protected by anyone from scammers, nor from a failed project, whose token you bought. Beginners often have a story when they enter the project at maximum values, and it bursts and the token depreciates.
Even if the project is powerful, with a great idea and a good product, a great reputation, you are not immune from an unsuccessful entry point “on the highs”. If you entered the project at a high price, then it is likely that you will catch losses as a result of the correction. Although now there is a bear market, and with this the situation is a little better.
It is best to choose a great project based on strong fundamental data than to buy a portfolio of many shieldcoins at once. Therefore, I have prepared our top most promising cryptocurrencies.
It should also be remembered that the investor will always earn more than the trader in the long run. But only on the horizon of two years or more. How to achieve this? You need to choose high-quality and excellent projects.
Some of the projects are already in the top, and some are still very young. But in general, all projects should survive the bear market successfully and reach their historical highs in the coming years.
What cryptocurrencies to buy in 2023?
Today, this coin is in the TOP-5 of the largest coins by capitalization. Who does not know the Binance crypto exchange? So, it was she who issued this coin.
Unlike the same Ethereum or Bitcoin, this cryptocurrency is developing very powerfully, and immediately in all directions.
The company has been building a whole system of systems for a long time, where each person will find something for themselves. For example, exchange, staking, P2P exchange, decentralized applications. The company is the world’s largest crypto platform. It has an incomparable fundamental value.
The coin also has interesting mechanics for controlling prices in the direction of constant growth:
- Launchpads Binance. Launchpads enable early purchases of new tokens. But participation requires the purchase of BNB. This provides an incentive to buy, which is why the BNB price tends to go up when there are bright launchpads.
- Transfer of small deposits to BNB with one button: also creates demand for BNB
- Aggressive burning rates: the coin is actively burned, and burning is always a signal for long-term growth
- BNB is an actively developing coin, and the closest competitor to Ethereum. The project also has its own blockchain, the Binance Smart Chain network. I think the coin has excellent long-term prospects.
The second coin included in the top of the most promising cryptocurrencies. This is the second powerful coin of the list. Ethereum is the main network for a huge number of tokens. Binance Smart Chain is essentially an imitation of the Ethereum network.
Ethereum, like bitcoin, tells us about the situation of the entire crypto market as a whole. The project has a large ecosystem, many people in the community. Ethereum is the second most capitalized coin in the world, after Bitcoin itself.
The role of Ethereum in decentralized applications makes the investment in the coin safe and secure. This asset will definitely never fall to zero.
- Update 2.0. There will be a refusal from mining on video cards and a transition to a new algorithm – PoS.
- Reducing emissions by 90%. This is planned after the release of Ethereum 2.0. It is clear that such a large-scale reduction will result in a huge price increase, and possibly the growth of the entire crypto market as a whole.
- Cool community. The company has a large support group, and more importantly, a large group of developers who work on the Ethereum protocol.
- The development of the blockchain will allow the coin to remain in the top for a long time, and slowly move towards the highest goals in terms of price and capitalization. There are even supporters of the theory that the capitalization of Ethereum will exceed the capitalization of Bitcoin.
Overall, this is a powerful coin that looks very reliable in the long run. The only player who can shake it off its pedestal is Binance Smart Chain itself. But we also have it in the top.
The third coin included in the top of the most promising cryptocurrencies. The project is called the “Ethereum killer”. Of course, he is unlikely to move Ether off the pedestal, but he will win back his part of the market. This is a project to create a parachain network based on the Web 3.0 standard. That is, the next generation blockchain.
Possible prospects for the Polkadot blockchain:
- The network is actively expanding. New projects are implemented on the principle of auctions. The entire community of the exchange votes for them at once. To add a new token, a majority of the votes of the entire network is needed – a quorum. If the project for which you voted won the vote, you will receive its tokens as a reward.
- High dynamics of adding new projects to the network. This eventually translates into demand for the network’s parent token, DOT. In the long term, there are prerequisites for growth.
Possible risks when investing in this token:
- The risk of the crypto winter that is underway now. The coin can collapse very strongly. But we consider this as an opportunity to buy a coin cheaper, right?
- Tough fight with competitors. The blockchains of today exist in much tougher competition than the blockchains of the 17th year. One mistake and there is no coin. Remember what happened to the moon.
- It is believed that the main risk for this coin is the Ethereum 2.0 update.
Despite all the disadvantages, the blockchain has been actively developing so far, so it can be added to the portfolio.