When looking to invest in crypto, it can be tricky to decide which type of currency to go for.
Even though new currencies hit the market all the time, it remains best to stick to those crypto brands that enjoy a reputation of being well-established. Those are the brands that will have the best possible chance of survival and an increase in value.
Below are three of the biggest and best cryptocurrencies to watch out for in 2023.
Currency the second-largest cryptocurrency available, Ethereum was the innovative driving force behind “smart contract technology”. This completely transformed the crypto scene as it opened up the possibility for any cryptocurrency to be built on Ethereum’s network.
While Ethereum started out slower than its competitors, its developers are currently implementing a series of improved upgrades. These upgrades will make the platform speedier and much more sustainable in the long run.
Another major advantage is that Ethereum has the capacity to support not only individuals but also entire businesses. What’s more, Ethereum even allows the tokenization of artwork and patents, which makes it a truly versatile cryptocurrency.
As all cryptocurrency guides will tell you, Bitcoin is the biggest and oldest of all crypto coins, with its market size comprising roughly 40% of the total value of all digital assets.
Bitcoin has managed to survive several slumps and challenges and has consistently managed to bounce back stronger than before.
For this reason, many market analysts believe that Bitcoin will ultimately become the number one currency of the internet. Bitcoin is a cryptocurrency that sees no borders, which makes spending money in another country easier and cheaper than ever before.
Since Bitcoin users are identified not by their names or social security numbers, but instead with the help of numerical codes, users are safe in the knowledge that there can never occur any public tracking or identity fraud.
Even in the unlikely event that the address associated with your digital Bitcoin wallet becomes public, you can simply generate a new online wallet to re-secure your personal information.
Not unlike Ethereum, Cardano is popular among developers for building applications and launching new crypto projects.
Cardano has established for itself a solid reputation. It has also entered into several “real world” business partnerships, most notably across the African continent, where it strives to solve local challenges.
Cardano’s advantages include:
- It tops the cryptocurrency list for being more friendly to the environment. In fact, its founder claims that Cardano is up to 1.6 million times more energy-efficient than Bitcoin.
- It’s speedy. Cardano beats both Bitcoin and Ethereum 1.0 in terms of faster processing of transactions.
- Cardano is big on research. Cardano’s team of developers works closely with academics who focus on blockchain technology and its growth and development.
- Those behind Cardano are heavily invested in their technology.
- It has been growing constantly ever since it was first launched.
- Investing is easy. While Cardano maintains strict control over its network, buying is easy for beginners.