top cryptocurrencies to invest in 2023 | top 10 cryptocurrency

Discover top cryptocurrencies to invest in 2023

Cryptocurrencies are experiencing a very positive year, attracting more and more investors despite the fact that it is still a sector that is beginning to develop. In this article, we will review the top 10 cryptocurrencies to invest in 2023.

Highlights:

• Introduction
• Best cryptocurrencies to invest
• Evolution last 5 years
• The best sites to invest in cryptocurrencies
• Conclusion

Introduction | top cryptocurrencies to invest in

This article includes the top 10 cryptocurrencies that could be an option to invest in 2023. However, before investing you must take into account that cryptocurrencies are assets with high volatility, and therefore before making the decision, we recommend that you consult your financial advisor. to confirm that these are the right investments for you. 

We cannot know exactly the best cryptocurrencies to invest in in 2023, but we have made a selection of those that could behave more positively or more stable. This selection is based on the trajectory that digital currencies have had in recent years, the current market capitalization, the industry trend, and the investment arguments offered by each of the selected cryptocurrencies. 

Stablecoins such as "Tether" or "Binance USD" have not been taken into account, since due to their characteristics they will always be linked to the evolution of the USD.

Each of the cryptocurrencies analyzed includes a brief description of it, some of the reasons why it could stand out in 2022, and a daily chart for the last 6 months that includes two technical indicators.  

In addition, the individual descriptions have included the evolution in the last 5 years of each cryptocurrency, something that has been expanded in the "evolution of the last 5 years" section.

What is the best cryptocurrency to invest in?

Bitcoin

It is the most famous cryptocurrency and the one with the highest trading volume, excluding stablecoins. Despite the sharp increase in competition, Bitcoin remains the absolute dominator of the digital currency market based on its market capitalization.  

The growth in value of Bitcoin is spectacular, with an average in the last 6 years of more than 300%, and only in 2021, the cryptocurrency advanced close to more than 80%.  

Some events, such as the acceptance of Bitcoin as a FIAT currency in El Salvador, have led to an increase in the popularity and recognition of this asset that some call digital gold. In addition, there are various reasons to consider that the advance of Bitcoin could increase in the coming years, among others, close to 90% of Bitcoins have already been mined, so if demand continues to grow and the increase in the offer is reduced, what will happen to the Bitcoin? Will it be one of the best cryptocurrencies to invest in in 2022?

Performance of the last five years of Bitcoin:        

2020 = 302.28%        

2019 = 94.01%        

2018 = -73.22%        

2017 = 1337.66%        

2016 = 124.05%

Ethereum  

The second cryptocurrency in our ranking of the best cryptocurrencies to invest is Ethereum, also the second in terms of market capitalization in 2021. A situation that has been repeated year after year for more than 5 years, always at the forefront of Bitcoin.  

However, these differences narrowed significantly in 2021, when Ethereum's advance was five times that of BTC.  

There are several reasons to consider that Ethereum may be one of the cryptocurrencies that will rise the most in 2022, including:

Performance of the last five years of Ethereum:        

2020 = 469.57%        

2019 = -2.04%        

2018 = -82.10%        

2017 = 9144.29%        

2016 = 753.78%

Stellar

The Stellar network and the Stellar Lumens digital currency had a very positive 2021 for its users. XLM is up more than 150% so far this year. Similar numbers to those of 2020. Will the XLM trend continue in 2022? Will it be among the top 5 cryptocurrencies to invest in?

The network stands out as an efficient digital platform in which it is possible to integrate all cryptocurrencies into the same wallet. Through its services, it is possible to exchange cryptocurrencies for currencies of common use (FIAT), legally accepted in a certain country.

Its defenders believe that as the use of cryptocurrencies becomes more standardized, it is possible that the use of this cryptocurrency will grow and even believe that the advance of 2017 could be repeated when Stellar Lumens increased its value by more than 14,500%. in just one year.

Performance of the last five years of Stellar Lumens:        

2020 = 183.92%        

2019 = -59.13%        

2018 = -69.52%        

2017 = 14513.20%        

2016 = 41.01%

dash

The Dash cryptocurrency was created with the aim of reducing transaction costs and overcoming the scalability problems of other cryptocurrencies such as Bitcoin.  

Dashcoin represents a revolution for the traditional financial system thanks to instant payments with very low commissions.  

Dashcoin's focus is in Latin America, where the Dashcoin Foundation is making efforts to promote the use of cryptocurrencies with proposals such as the launch of the first cryptocurrency debit card in Latin America.  

For this reason, some analysts believe that Dashcoin could be among the best cryptocurrencies to invest in in the short term or long term.

Dashcoin performance of the last five years:        

2020 = 141.77%        

2019 = -47.89%        

2018 = -92.48%        

2017 = 9281.62%        

2016 = 242.81%

Monero

Monero closes the top 5 best cryptocurrencies to invest in in 2023. It is a cryptocurrency that is focused on offering privacy to its users, a fundamental difference from competitors such as Bitcoin and Ethereum that use transparent Blockchains.

Financial regulators around the world are currently looking for ways to regulate cryptocurrencies, something that could benefit Monero, which is designed to be untraceable and is considered by some analysts to be the sleeping giant of cryptocurrency.  

Performance of the last five years of Monero:        

2020 = 251.29%        

2019 = -3.59%        

2018 = -86.75%        

2017 = 2432.87%        

2016 = 2829.42%

Litecoin

Litecoin was born in 2011 as an improved alternative to Bitcoin offering faster block generation and more efficient fees. However, so far Litecoin 's penetration has been a far cry from its rival Bitcoin. Will 2022 be the year in which this situation will change?

Performance of the last five years of Litecoin:        

2020 = 201.62%        

2019 = 35.67%        

2018 = -86.87%        

2017 = 5260.28%        

2016 = 24.43%

Polkadot

For years, the blockchain industry has been facing the problem of scalability. Scalability problems can be defined as the problems that cryptos present when the user volume grows significantly and implies performance and operability problems.

Since its birth, Polkadot seeks to end the scalability problem. It is a multi-fragmented network with which many transactions from different chains can be processed in parallel.

This shard chain approach has been a revolution for the crypto industry and ushers in a new era, third-generation cryptocurrencies.  

In essence, the Polkadot network is much closer to the Ethereum network than to the Bitcoin project, since Polkadot offers a platform that supports smart contracts (smart contracts) and favors the development of decentralized applications (DApps).  

However, it is a simpler approach than Ethereum, both in design, programming, and deployment. That is why it could be among the best cryptocurrencies to invest in. 

There are no data on the price of Polkadot prior to 2019.  

Polkadot performance in 2020 = 201.62%.

Solarium

Solana was one of the best cryptocurrencies in terms of returns in 2021, growing over 12,500% from December 31, 2020, to November 26, 2021.  

It is a recent cryptocurrency and, as in the case of Polkadot, it is part of the third-generation cryptocurrencies and again, due to its characteristics, it is more similar to Ethereum than to Bitcoin.  

However, one of the main differences between these projects is the speed of transactions. Solana can support up to 50,000 transactions per second, compared to the 10,000 that Polkadot can support, in the case of Bitcoin this number is reduced to 7 transactions per second.

Based on market capitalization, as of November 30, 2021, Solana was the fifth largest cryptocurrency. Could it rise to be the best cryptocurrency in 2023? Some experts believe it is possible.

There are no data on Solana's price prior to 2019.  

Solana's yield in 2020 = 12674.83%.

Polygon

Polygon (MATIC) is a cryptocurrency that complements Ethereum and allows to increase in the scalability and uses of this network. The launch of NFTs (Non-Fungible-Tokens) and decentralized finance (DeFi) causes an increase in the need for the Ethereum network.  

The Polygon network works as a side corridor that connects to the Ethereum network and allows to elimination of these bottlenecks and thus increasing the efficiency of this network.

Some companies have joined the Polygon protocol to offer blockchain solutions to businesses, including E&Y Consulting.

In 2021, the cryptocurrency had a growth in value of more than 9,000%. Can Polygon keep up?

There are no data on Polygon's price prior to 2018.  

Polygon performance in 2020 = 9429.21% and in 2019 = 27.66%

uniswap

Uniswap allows you to exchange cryptocurrencies in a decentralized way, using smart contracts (smart contracts) on the Ethereum network.

The Uniswap project has introduced some revolutionary innovations in the crypto universe such as those known as liquidity mining. The Uniswap protocol allows users to generate income through the injection of liquidity into the system.

Investors inject tokens into the "Liquidity Pools", and as these tokens are used by third parties, commissions are generated that are used to maintain the protocol and give rewards to investors in said pool.  

Uniswap price data prior to 2019 is not available.  

Uniswap yield in 2020 = 274.47%.

What is the best Cryptocurrency to invest in?

The best cryptocurrencies to invest according to the selection that has been made would be Solana and Polygon, with advances close to 12,675% and 9,430% respectively.  

The best sites to invest in cryptocurrencies

With Admirals, Binance, and CoinBase it is possible to buy or sell cryptocurrencies through contracts for difference ( CFDs ). Thanks to this popular product you can invest in a wide range of CFDs on cryptocurrencies.

The process is as simple as following the steps below:

Download/open the platform

Open a new account or login

Open a cryptocurrency chart

Start trading!

The best way to practice your trading is through a demo trading account. You will operate with virtual funds, so there is no risk of loss of capital.  

Conclusion

The cryptocurrency industry is still at an early stage and consequently, there are great opportunities and great risks.  

Furthermore, despite the spectacular average growth numbers, 4 of the 6 historical cryptocurrencies selected in this sample are currently trading below the levels registered at the end of 2017.

However, these assets stand out for their high volatility, which is why it is difficult to define which are the best cryptocurrencies to invest in in the short term. The industry is usually influenced by the "momentum" of each of the different cryptos, something that can be clearly seen in the short-term 1-hour or 4-hour analysis of the different cryptos, where it is common to see the RSI indicator exceeds the 80 points in cryptocurrencies that are in the full bullish rally.

This situation is expected to continue and therefore it is not possible to clearly define which cryptocurrency will rise the most in 2022, although it is possible to anticipate that there will be both upward and downward trading opportunities in all exposed cryptocurrencies, opportunities Admirals, Binance, and CoinBase allows you to try to take advantage through the use of CFDs.