What Are The Best Cryptocurrencies To Buy Now
The crypto market stands at a crossroads right now. The total value of all cryptocurrencies stands at $857 billion today, down from $2.8 trillion in November 2021. The sector was rocked by scandals and financial meltdowns in 2022, many of which are ongoing stories with unknown consequences in 2023 and beyond. At the same time, there are a few positive notes in the air. Those crypto scandals may inspire lawmakers to speed up the progress toward a fully functional system of laws and regulations for crypto trading. Decentralized finance and Web3 apps are champing at the bit. Institutional investors have started to accept Bitcoin (BTC 0.14%) as an investable asset.
what are the best cryptocurrencies to buy now
From that perspective, it would be easy to recommend buying some Bitcoin or Ethereum (ETH 0.17%) while the largest names in crypto are trading near multi-year lows. However, most altcoins are less robust, and thousands of ill-fated cryptocurrencies should go to zero in this downturn. It's time to clean house.
You see, Polkadot is the utility token that ties together the many separate assets you'll see in a mature Web3 application. The value of this token should rise as Web3 adoption increases, because Polkadot is the very lifeblood of the reimagined web. Its cross-chain communication features allow developers to use many different blockchain tools and cryptocurrencies in a single development platform, greatly simplifying the task of bringing Web3 ideas to life. So when you buy Polkadot, you're really buying into the notion that Web3 will rise up and take over the current Web2 structure someday.
Cryptocurrencies have been on quite the ride since being introduced, with some early investors seeing sizable gains, while those who bought at the peak in late 2021 having likely suffered some major losses. The digital coins have sparked much debate in the investment industry about their investment merits and viability, with legendary investors such as Warren Buffett saying cryptocurrencies are essentially worthless.
The collapse of crypto exchange FTX saw many of its executives get charged with crimes in 2022 and caused many to question whether crypto can survive as an investment. If nothing else, the volatility of Bitcoin and other popular coins can make cryptocurrencies an attractive trading vehicle and creates the potential for some traders to profit.
Here are the best brokers for cryptocurrency trading, including traditional online brokers, as well as new specialized cryptocurrency exchanges. You might also want to check out which brokers offer the best bonuses for opening an account to determine where you can get a little extra.
The best crypto tips will tell you to stick with big name crypto wallets, such as Ledger, Trezor, Exodus or MetaMask. Dodgy or unknown wallets that you find on Google Play or the App Store can steal your crypto funds with dodgy code.
As we move into 2023, the world of cryptocurrencies is continuing to evolve at a rapid pace. Many investors are eager to know which digital assets are worth considering for investment. While there are a vast number of cryptocurrencies available in the market, some stand out as more promising than others.
In this context, we have analyzed the top crypto assets based on their potential for growth, adoption, and technological innovation. Here are the five best cryptocurrencies that could be worth investing in 2023:
Binance is the top trading platform to buy and sell all of the best cryptocurrencies to invest in for 2023. The Binance exchange also offers low fees (0.1%) and the ability to trade over 350 crypto assets in either Spot or Futures Trading.
GMX is the second on our list for 2023 because it has been the fastest growing DeFi application this year and has been one of the best performing assets throughout the bear market. GMX is a decentralized exchange (DEX) that operates as a spot and perpetual exchange, making it a unique platform in the digital asset ecosystem. It is designed to support low swap fees and zero price impact trades, providing a more efficient and cost-effective trading experience for users.
Crypto remains a promising asset class in 2023 due to its unique characteristics and its increasing adoption and integration into mainstream financial systems. The limited supply of many cryptocurrencies, combined with their growing demand, has led to a significant increase in their value over time. Additionally, the acceptance of cryptocurrencies by major financial institutions and corporations has further legitimized the asset class and contributed to its growth.
In conclusion, with the increasing adoption and integration of cryptocurrencies into mainstream financial systems, the growth of DeFi and NFTs, and the unique characteristics of limited supply, transparency, security, and efficiency, crypto remains a promising asset class in 2023 and beyond. When looking for a good long-term crypto investment, investors can consider factors such as market capitalization, adoption, technology, community, development team, tokenomics, and risk tolerance to make informed investment decisions.
Overall, the five cryptocurrencies highlighted in this guide - Ethereum, GMX, Lido, AAVE, and Stargate Finance - have shown significant potential for growth, adoption, and technological innovation and could be worth considering for investment.
To help make your decision a little easier, the Fortune RecommendsTM editorial team reviewed several popular cryptocurrency apps and exchanges. We weighed account minimums, the number of cryptocurrencies available to invest in, external wallet support, margin trading and staking and rewards-earning opportunities, educational resources, mobile app ratings, and customer service options. (Read our full methodology here.)
About: Crypto.com was founded in 2016 and currently serves more than 80 million users worldwide. Through its extensive online trading platform, investors have the opportunity to securely buy and sell more than 250 cryptocurrencies and over 20 fiat currencies.
About: Uphold first launched in 2015 and currently serves more than 184 countries around the world, across more than 200 traditional currencies, cryptocurrencies, and commodities. The exchange currently serves over 10 million users in 150 countries worldwide.
About: Coinbase was first launched in 2012 and has grown to host approximately 108 million verified users in over 100 countries around the globe. The platform offers 248 different cryptocurrencies, as well as access to NFTs and a Coinbase card to earn crypto rewards.
About: Binance is possibly one of the most well-known crypto exchanges. Founded in 2017, the exchange now offers over 150 cryptocurrencies available for trade and over 1.4 million transactions per second.
About: Gemini first appeared in the crypto space in the 2010s. Apart from its exchange which gives investors the opportunity to buy, sell and hold more than 90 cryptocurrencies, users can also buy and sell non-fungible tokens (NFTs), and earn crypto rewards with a Gemini credit card.
Gemini made our list for its rewards opportunities and its respectable mobile app rating. In addition to the wide range of cryptocurrencies available on this exchange, users can earn crypto rewards with every purchase made using the Gemini credit card. Users can also earn up to 4.83% APY by staking their crypto.
Cryptocurrency exchanges function similarly to stock exchanges in that they provide investors with a platform to buy and sell cryptocurrencies. There are countless exchanges in existence, and the range of cryptocurrencies available on each varies from just a handful of cryptocurrencies to over 1,000 on some platforms.
The Fortune RecommendsTM team compared 13 cryptocurrency apps and exchanges to help you find the best platform for your needs. Our top picks are available to customers in most U.S. states, subject to the terms of account, product, and service. To come up with our final list, we we ranked the best apps and exchanges on the following categories and weighted each category as set forth in the percentages below:
We think that the best apps and exchanges offer a wide range of cryptocurrencies, low or zero account minimums, the ability to transfer crypto to external wallets, margin trading, staking or rewards opportunities, educational resources or learning hubs, a highly rates mobile app, and various customer service options. The requirements, fees, and rewards offered by these apps and exchanges may be available for limited time periods.
The best crypto wallet should be easy to use and support a large number of coins and tokens. Hot wallets should include strong security tools, like two or multi-factor authentication and multi-signature support, while charging minimal or no fees. Cold wallets should be available at a reasonable price point and supported by a variety of hot wallets to facilitate trading.
Crypto wallets are an essential tool for buying, trading and selling cryptocurrencies. Traders need them to store crypto securely, as well as to protect and validate transaction information. Be it hardware or software, also called hot and cold crypto storage, custom crypto wallets offer traders dedicated solutions compared to those from crypto exchanges.
Why we chose it: We chose MetaMask as the best crypto wallet for Ethereum because its user-friendly interface provides quick and easy access to thousands of tokens and decentralized apps within the Ethereum network.
MetaMask is one of the most widely used Ethereum wallets, with over 30 million monthly active users. This may be due to its ease of use and accessibility: The wallet has an attractive and straightforward design for beginner investors looking to store and send Ethereum-compatible cryptocurrencies and interact with decentralized apps (dApps).
Why we chose it: We chose Trust Wallet as the best crypto wallet for mobile because it features a clean, scannable user interface, built-in support for dApps and NFTs and the largest number of supported assets on our list. 041b061a72