Cryptocurrency has been taking the world by storm since its launch as an open-source software thirteen years ago. Because of crypto’s growing popularity, many predict that this payment method will soon completely replace the other traditional forms of payment.
If your goal is to diversify your portfolio in the new year 2023, you have come to the best place. We aim to help readers select the top bitcoins so that they can create an impressive portfolio in the future.
The best way to achieve this goal is through Diversification. Diversification is possible because there are vast amounts of excellent bitcoin choices on the crypto market.
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As with any type of investment, there are risks when purchasing crypto, but these risks are much higher if you only invest in one cryptocurrency.
Expanding your crypto-wallet increases your chances of profiting greatly from the new dominant bitcoin.
Here are a few tips to consider when selecting the top bitcoins in the industry. The coins you choose must;
- Be at the top of the list in each category of coins.
- Have low volatility.
- Be reasonably cheap to store and easy to trade.
Each Cryptocurrency serves an individual purpose; therefore, think objectively about your reasons for purchasing before investing.
WHICH ARE THE 11 BEST CRYPTOCURRENCIES TO BUY?
We will focus on the following aspects of each cryptocurrency; description, purpose, team, liquidity, volatility, and other metrics.
This information will fully equip you with what is needed to invest. Let us go in order of most popular and least volatile to the least popular and most volatile.
If you are already familiar with investing in cryptocurrencies, you may find the coins listed at the bottom of this list more interesting.
Bitcoin was the first type of cryptocurrency launched in 2009. Not only is it considered the most popular currency on the global stage, but bitcoin is the most widely used cryptocurrency compared to its rivals. Many would argue that it is the chief cryptocurrency that replaces traditional cash universally.
- Team: Even though Bitcoin is now in its teens, its founder or founders remain anonymous. The only names we have are those of an individual allegedly of Japanese descent known as Satoshi Nakamoto, who claims to be 47. We know that one of the active team members who runs updates on Bitcoin’s open-source codebase is the inventor of Blockstream named Adam Back.
- Liquidity: Bitcoin is the best for new crypto investors because it has the highest liquidity among its rivals.
It is a digital commodity that is very easy to buy and sell, and there is always someone on the market willing to match your order.
- Price Volatility: Bitcoin is a volatile digital currency; nevertheless, it is the most stable crypto investment because it is not easy for someone to manipulate its price.
- Crypto Economics: Bitcoin operates by the PoW (Proof-of-Work) system. Those who mine for Bitcoin receive bitcoin as their reward. The reward per block starts at 50 BTC per block, but for every 210,000 blocks, the tip is halved. Bitcoin Mining is limited to a maximum of 21 million. If there is an increase in demand, this will lead to a rise in price.
- Why is Bitcoin a good investment? Market share. Bitcoin accounts for more than 60% of the total cryptocurrency market. Due to its dominant role in the industry, this payment method has immense profit-making potential.
Important: Litecoin was launched three years after Bitcoin and was an immediate success, just like Bitcoin. Litecoin utilizes the same source code as Bitcoin and is essentially a branch of the cryptocurrency tree. However, Litecoin is much faster due to technical changes to the code. It is well accepted on a global platform as a peer-to-peer currency.
- Team: The Ivorian computer scientist Charlie Lee not only created Litecoin but is also the managing director of the Litecoin Foundation. He was affiliated with Google and Coinbase as Engineering Director.
Bobby Lee is the brother of Charlie Lee and has founded BTC China.
- Liquidity: The liquidity of Litecoin is very high, and its cap on the market is substantial.
- Price Volatility: Litecoin has a more stable value when compared to other types of cryptocurrencies with smaller market caps.
- Crypto Economics: Litecoin supply is only 84 million, and initially, the reward per block was 50 LTC. This figure has now decreased to 12.5 LTC per block.
- Why is Litecoin a good investment? Litecoin is faster and cheaper than Bitcoin because it is the silver version of a gold Bitcoin, known as an altcoin. Litecoin is the preferred payment method among crypto casino enthusiasts.
Litecoin may have many competitors, but it has still managed to grow a loyal list of organic supporters.
Ethereum cryptocurrency differs from Bitcoin and Litecoin because the holder of Ethereum can include a Smart Contract when payments are involved in the transaction.
Smart contracts cater to those developers who launch mobile and desktop decentralized applications (dApps) on a blockchain.
The Ethereum network offers thousands of tokens; these were the driving force behind the initial coin offering (ICO) movement.
- Team: Vitalik Buterin, although very young, is said to have an IQ of 257. He may have dropped out of University, but he did go on to create Ethereum. Joseph Lubin is also known as a massive contributor to Ethereum. Joseph is the founder of Consensys, a software-production studio in NY creating decentralized Ethereum applications.
- Liquidity: Ethereum is a highly liquid asset; therefore, it is not difficult to sell.
- Price Volatility: Similar to Litecoin, Ethereum has a devoted following, which means that a stable value is guaranteed, and if there are any changes, they will be positive.
- Crypto Economics: The market cap is higher than Bitcoin; this is essential because millions of companies and developers utilize Ether for their Smart Contracts. Ethereum is necessary for the dApp ecosystem to thrive.
- Why is Ethereum a good investment? Ethereum takes the lead when it comes to Smart Contracts. Many hospitals and Universities are seeking to implement Ethereum via NFTs into their systems.
4. BINANCE COIN (BNB)
What started as a simple utility token became a payment method for booking travel, online services, financial services, and entertainment.
With people finding more and more ways to use Binance, this translates to an increase in the value of the Binance coins.
- Team: Changpen Zhao is the co-founder and CEO of Binance. Mr. Zhao and his team have been very successful since the launch of Binance, and this platform is continually growing.
- Liquidity: Binance Coin is highly ranked on the crypto market as one of the most liquid cryptocurrencies. The trade volume has seen consistent growth over the years.
- Price Volatility: The price of Binance has been relatively stable and tripled in 2019. This crypto coin appears to have a bright future in the digital industry.
- Crypto Economics: 200,000,000 BNB issued via an ICO; each coin costs $0.10. Binance will launch Binance DEX, allowing this crypto token to find more uses. Binance has a system where they take 20% of their quarterly profits to purchase their BNB tokens. Investors in BNB can take advantage of trading discounts; in the first year, you are entitled to 50% discounts; in the second year, 25%, 12.5% third, 6.75% fourth, and zero the fifth.
- Why is BNB a good investment? BNB tokens are one of the few utility tokens on the crypto market that is used in many ways, and their functionality continues to grow. With increased functionality comes increased demand, and with increased demand, there is short supply, which leads to higher prices.
5. BASIC ATTENTION TOKEN (BAT)
Basic Attention Token, or BAT, is a utility token utilized in the Brave Browser.
BATs are used to pay content creators or anyone who provides help via the internet. Companies can make payments using BAT once or monthly.
Persons can earn BAT rewards by looking at ads. Advertisers use Smart Contracts to lock the BAT inside, and when their ads are viewed, BATs are made accessible to the viewer.
- Liquidity: As reported by Coinmarketcap, BAT maintains a position in the 40s regarding most traded crypto coins.
- Price Volatility: BAT consistently maintained its value even when other cryptocurrencies depreciated. Stable cryptocurrencies are always a great advantage for crypto investors.
- Crypto Economics: There are 1.5 billion tokens in existence, and there are no plans for an increase in this quantity. Therefore if the demand goes up, so does the price.
- What makes BAT a good investment? BATs are more frequently used in the Brave platform. In addition, Brave browser access has been growing considerably, with users expressing much positive feedback. Because of this, BAT is likely to be an excellent crypto investment choice.
6. MONERO (XMR)
The Monero project caters to anonymity. This digital currency utilizes unique cryptography to camouflage participants’ identities.
Monero is the most popular cryptocurrency used on the dark web.
- Team: Someone using the pseudonym Nicholas van Saberhagen was the first to publish the white paper on the protocol of Monero. South African-born developer Riccardo “fluffypony” Spagni is the leader of the Monero team.
- Liquidity: Buying and selling Monero is extremely easy because it is highly liquid, always finding itself at the top of the market.
- Price Volatility: Monero is considered a stable crypto asset with low risks for investors.
- Crypto Economics: 18.4 million XMR coins were allowed to exist until May 2022. After that, only 0.3 XMR was released per minute. Because of this tiny limit, the coins are more valuable during high demand.
- Why is XMR a good investment? When someone uses Monero coins, their transaction history, identity, and every aspect of that transaction remain untraceable. These features put this cryptocurrency at a significant advantage on such a massive platform as the black market.
NEO can be described as the Chinese version of Ethereum. Like Ethereum, NEO is a Smart Contract technology that allows developers to launch their dApps on a blockchain.
Nevertheless, NEO is more centralized than Ethereum because they rely on fewer than ten participants when making important company decisions.
- Team: NEO’s founders are Da Hongfei and Erik Zhang. They also run a platform that connects people with hundreds of coins and tokens called Onchain.
- Liquidity: NEO maintains its place in the top 25 of the Coinmarketcap; therefore, investors can quickly liquidate this asset.
- Price Volatility: The liquidity-to-price ratio is soaring; thus, any investment in this currency will be safe.
- Crypto Economics: While there is only 200 million NEO in existence, the company created 100 million at the genesis block, 50 million were purchased by the first set of investors, and 15 million is dedicated to funding development. In short, the supply is already distributed, but there is still a tiny amount that you, as an investor, can trade.
- Why is NEO a good investment? Those looking for an alternative to Ethereum can consider NEO. Many companies across the globe are adopting Smart Contracts into their business. As more countries become aware of the advantages, the demand for this digital asset will go through the roof.
Beam is a platform similar to Monero, and its primary focus is privacy during cryptocurrency transactions.
However, Monero is a traditional blockchain establishment, whereas Beam uses a new blockchain protocol called Mimblewimble.
Mimblewimble provides the benefits of scaling the blockchain and transaction speed while maintaining a high level of privacy.
- Team: Alexander Zaidelson and Alex Romanov are the founders of Beam. Zaidelson is also Beam’s CEO, co-founded Narcos (a P2P file-sharing company), and has held the position as an advisor to several other startups.
- Liquidity: Even though Beam has a low market cap, you can exchange it quickly at a reasonable price.
- Price Volatility: Beam is relatively new to the crypto market, but its price is reasonably consistent. This digital currency does have the potential to decrease or increase in value.
- Crypto Economics: Beam operates on a PoW basis. Physical mining hardware must be used when Beam coins are created. There is a maximum supply of 262,800,000 BEAMs in existence. Eighty coins are rewarded per block, which is reduced to 40 coins. Six years later, the reward decreased to 25 coins per block. The dividends decrease by 0.5 every four years until the 129th year. Like all cryptocurrencies, the prices of these coins only go up if there is a demand.
- Why is BEAM an excellent crypto to buy? Beam is an advantage because of the Mimblewimble technology, allowing it to be more scalable than other similar coins.
Nexo has existed since 2018 and is a crypto platform enabling customers to purchase, lend and borrow assets while earning interest using coins as collateral. Customers can use their free Nexo credit card during their transactions.
- Team: Nexo was co-founded in 2017 by Kosta Kantchev, who co-founded Credissimo, a company that instantly provides instant loans and other bill payment services.
- Liquidity: Investing in Nexo is a better choice for those who want to deal in a small number of assets, as it may be challenging to trade a considerable amount.
- Price Volatility: NEXO is experiencing substantial growth due to devotion from its customers; therefore, the prices remain at a consistent value.
- Crypto Economics: NEXO platform only provides less than 560,000,000 tokens. The maximum supply is 1,000,000,000. NEXO is SEC-compliant and also rewards its customers with dividends. Many individuals looking to invest in cryptocurrency usually find this feature to be an attractive offer.
- Why is NEXO a good investment? The main pro to this particular crypto entity is the ability for holders to earn dividends. In addition, the functionality of this asset is what allows it to be used in a variety of ways which will eventually lead to increased demand.
10. CARDANO (ADA)
Cardano is said to be one of the biggest competitors of Ethereum and NEO. Many have indicated that Cardano is more scalable and more manageable for developers.
This proof-of-stake blockchain platform utilizes two layers of technology: one responsible for tracking ledger balances and another for transferring the value.
The programming languages used on this platform are Haskell and Plutus.
Haskell is not new; it has been in use since the 1980s; however, the term Plutus was coined in-house by Cardano’s team of developers.
- Team: American entrepreneur Charles Hoskinson is not a newcomer to the crypto industry. He not only co-founded Ethereum and Input Output Global Inc, but he also co-founded Cardano.
- Liquidity: Buying and selling Cardano is relatively easy because the trading volume is constantly at a peak.
- Price Volatility: This is one of the cryptocurrencies on this list that has yet to see a steady balance in its value. Therefore, the risks are higher for investors when compared to other forms of digital assets mentioned before.
- Crypto Economics: Cardano uses a PoS consensus algorithm. The maximum supply of assets equals 45,000,000,000, but only ~31,000,000,000 is available.
- Why is ADA a good investment? Cardano is a reasonable choice for those with a great portfolio but looking to add more variety to hedge against blockchains like Ethereum and NEO.
It is a digital currency with great potential to climb to the top of the cryptocurrency market.
11. ENJIN (ENJ)
Enjin platform’s primary focus is games and NFTs. This entity uses the Ethereum blockchain to provide developers with the necessary tools to create and trade digital assets. Sports enthusiasts can own NFTs from their favorite games and players and exchange or sell them when the value appreciates.
Enjin also has a feature termed Multiverse. Gamers can play one tournament using a particular set of characters, assets, and other items. They can then transfer all of these to another game produced by a different developer, even their winnings.
- Team: ENJIN was launched twelve years ago by Maxim Blagov and Witek Radomski. The company is, in fact, older than the famous Bitcoin and Ethereum blockchain. Blagov and Witek have accumulated years of knowledge and experience regarding how blockchain works in the gaming industry. For this reason, they achieved much success with the launch of their new and unique platform.
- Liquidity: ENJ coins are always in the top 100 most traded coins; therefore, you can sell yours without hassle.
- Price Volatility: This digital asset does not maintain a stable value and is thus considered moderately volatile.
- Crypto Economics: The maximum supply is 1,000,000,000, but only 821,195,954 is currently available.
- Why is ENJ a good investment? Because we live in the age of advanced technology, eSports is now taking the place of traditional sports. This platform makes it easy for sports fans to obtain their favorite game assets and tokens and trade them off for a handsome profit.
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