While 2022 was unkind to many crypto investors, things seem to be heating back up again in 2023. However, with so many promising projects on the market, many are unsure where to start. In this list, you’ll find what investors consider to be 12 of the best cryptos to buy now, including:
- AltSignals (ASI)
- Metacade (MCADE)
- Ethereum (ETH)
- Binance Coin (BNB)
- Bitcoin (BTC)
- Polygon (MATIC)
- Cardano (ADA)
- Chainlink (LINK)
- Filecoin (FIL)
- Ripple (XRP)
- ApeCoin (APE)
- Uniswap (UNI)
1. AltSignals (ASI) - Revolutionizing the Trading Signals Game
What is AltSignals?
AltSignals is a trading signals provider launched in 2017. It uses a proprietary algorithm known as AltAlgo™ , alongside market analysis by a team of seasoned traders, to produce high-quality, accurate signals for the crypto, stock, and forex markets. Of over 1,500 calls sent out, AltSignals holds a 64% win rate and generates outstanding returns every month - so much so that its Trustpilot page has nearly 500 positive reviews, with an average rating of 4.9/5.
Recently, AltSignals announced its native token presale launch to fund the development of its new AI trading system, ActualizeAI. ActualizeAI will take advantage of the latest advances in AI tech, like machine learning and sentiment analysis, to produce incredibly accurate signals. AltSignals’ goal is for ActualizeAI to take its win rate to 80%+. ASI token holders will be granted exclusive access to the new algorithm.
Why Invest in AltSignals?
AltSignals has already proven itself capable of producing some of the market’s best signals through AltAlgo™ . ActualizeAI is expected to supercharge its capabilities and put AltSignals leagues ahead of the competition. Many predict that ASI will see a flood of buying activity from early investors once news gets out about the development of ActualizeAI.
AltSignals is also committed to fostering its already sizeable community through the AI Members Club. Here, ASI holders will be able to contribute feedback and ideas to AltSignals in return for more ASI tokens, enabling them to unlock more advanced ecosystem features like exclusive notice for upcoming crypto presales. It also acts as a governance token for the platform, enabling users to propose and vote on upcoming changes.
Risks of Investing in AltSignals
AltSignals could suffer due to a market downturn, which would reduce demand across the board. Other signal providers could also catch on to what AltSignals has in store and, if they have enough resources, launch a competing product that could take some of the platform’s market share.
>>> You can participate in the AltSignals presale here <<<
2. Metacade (MCADE) - Poised to Dominate Play-to-Earn
What is Metacade?
Metacade is a play-to-earn (P2E) community hub taking the GameFi market by storm. It’s recently raised over $12.6m in presale from thousands of investors looking to get in early on the P2E revolution. The platform itself has everything gamers need to find their edge in the world of blockchain gaming, like dedicated forums, the hottest GameFi alpha, and a review system that pays users crypto rewards for their thoughts.
Metacade is aiming to become one of the key driving forces behind the GameFi industry. Not only is it expected to act as a central meeting place in the decentralized gaming space, but it’s also planning to play a critical role in producing the next wave of P2E games with Metagrants. Metagrants allow the community to vote on which games and developers they believe should be allocated funding from the Metacade treasury, with the final game being hosted in the platform’s virtual arcade.
Why Invest in Metacade?
Metacade has the potential to rise and become a household name for P2E gamers. Following in the footsteps of other community-based gaming platforms, like Discord and Twitch, the platform seems poised to attract a vast collective of gamers, crypto investors, and developers looking for a community that is focused on serving them.
This is compounded when considering the forecasted growth of the GameFi market. In a report by Crypto.com , the exchange announced its expectation for GameFi to grow at 10x the rate of traditional gaming by 2025, swelling to a $50 billion market in the process. Metacade’s native token, MCADE, could see tremendous price appreciation as hundreds of thousands of new players join the space hoping to earn rewards for doing what they love - gaming. For that reason, Metacade comes in high on the list, offering one of the best crypto presales to invest in now.
Risks of Investing in Metacade
While Metacade seems like a solid bet, it is still susceptible to market volatility. A prolonged downtrend could suppress MCADE’s price if demand dries up in the market as a whole. Meanwhile, there’s also the risk of competing projects attempting to capture Metacade’s market share, which could also reduce demand.
>>> You can participate in the Metacade presale here <<<
3. Ethereum (ETH) - The Leading Smart Contract Solution
Market Capitalization: $187 billion
What is Ethereum?
Ethereum is the world’s leading layer-1 network and the second-largest cryptocurrency on the market. Introduced in 2015, Ethereum enables developers to build and deploy decentralized applications (dApps) using smart contracts.
These smart contracts are now used to power nearly 4,000 decentralized apps (DappRadar), including some of crypto’s biggest names, like Uniswap, OpenSea, and MetaMask. Ethereum has also played host to many of the crypto market’s leading decentralized finance (DeFi) and non-fungible token (NFT) projects, which has helped to push ETH’s price higher and secure its place as the top smart contract network.
Why Invest in Ethereum?
There are many reasons to invest in the Ethereum project, not least its potential following its recent upgrades. In September 2022, Ethereum transitioned from a proof-of-work (PoW) system to a proof-of-stake (PoS) consensus mechanism, significantly reducing its carbon footprint and paving the way for some significant future upgrades. One of these upgrades is sharding, which could propel Ethereum’s transactions per second (TPS) as high as 100,000.
Ethereum also has one of the best crypto developer communities around, with over 4,000 monthly active open-source developers working to improve the Ethereum ecosystem. This strong developer community ensures that Ethereum constantly evolves and meets its roadmap targets.
All-in-all, Ethereum is unlikely to lose its leadership position in the layer-1 space anytime soon. Its unparalleled dominance over other cryptocurrencies makes it a firm favorite of mainstream digital currency investors and enterprises, further supporting Ethereum’s price going forward and driving it to new heights.
Risks of Investing in Ethereum
One of the biggest risks facing the otherwise highly secure outlook for the Ethereum network is the number of competitors aiming to knock it from the top spot. While Etheruem’s position looks unshakeable, it certainly wouldn’t be the first time a competitor steals enough market share to pose a serious rivalry.
Moreover, the success of Ethereum is heavily dependent on the success of its applications and smart contracts. If these dApps fail to gain adoption or cannot solve real-world problems, the demand for Ethereum could decrease.
4. Binance Coin (BNB) - The Native Token of the World’s Largest Exchange
Market Capitalization: $46 billion
What is Binance Coin?
Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the world’s most popular cryptocurrency exchanges. Binance Coin was launched in 2017 and has since become an integral part of the Binance ecosystem.
It originally started life as a way to realize trading fee discounts for crypto users but has since evolved into a multi-purpose utility token, most notably powering the Binance Smart Chain. This smart contract-enabled chain is Ethereum’s biggest competitor, providing the infrastructure for over 4,500 dApps (DappRadar). This has led BNB to place just below Ethereum as the fourth most valuable digital currency.
Why Invest in Binance Coin?
Given that Binance is the world’s largest cryptocurrency exchange, it’s no surprise that demand for BNB picks up when the crypto market is raging. Traders use BNB crypto assets to achieve lower transactions fees and access Binance Launchpad token sales, while BNB itself is used to pay for transaction fees when users interact with one of its dApps. This makes BNB an excellent proxy for investing in the cryptocurrency market as a whole.
Additionally, Binance Coin is deflationary, thanks to the quarterly token burns Binance performs. Since 2017, Binance has burnt almost a quarter of the total circulating supply of BNB (BNBBurn), restricting its supply while demand for the native cryptocurrency trends upward.
Risks of Investing in Binance Coin
The biggest risk of investing in Binance Coin is for another FTX-style collapse or crypto winter to hit the Binance exchange. While unlikely, considering Binance’s published proof of reserves, there is a risk that BNB becomes the next FTT, which would decimate BNB’s price.
Furthermore, the long-term prospects of BNB are dependent on the Binance ecosystem continuing to grow. If Binance fails to maintain its high standing as a popular coin in the industry or faces regulatory issues, the demand for Binance Coin could decrease.
5. Bitcoin (BTC) - The King of Crypto
Market Capitalization: $426 billion
What is Bitcoin?
Bitcoin , the world’s first digital asset, remains a firm favorite for cryptocurrency investors across the globe and is widely considered one of the best cryptos to buy now. Introduced in 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin put blockchain technology on the map. It’s since remained unchallenged as the world’s most valuable cryptocurrency, boasting a total market capitalization over double that of Ethereum.
For most non-crypto enthusiasts, Bitcoin is likely the crypto asset they’re most familiar with. Many also consider Bitcoin to be the most decentralized project in the cryptocurrency space; there’s no central authority to control the network, verify transactions or the supply of Bitcoin, making it a truly decentralized digital asset.
Why Invest in Bitcoin?
Investing in Bitcoin is like investing in the S&P 500: it’s not the most glamorous, nor will it offer you massive gains overnight. But it’s a stable investment (at least when compared to other crypto assets that are more highly volatile) that allows investors to gain exposure to the broader crypto market.
Many institutional investors in the crypto industry seem to agree. Over 7.7% of the total supply of Bitcoin, worth over $36 billion at the time of writing, is owned by publicly/privately traded companies, exchange-traded funds (ETFs), and countries, according to Buy Bitcoin Worldwide.
Risks of Investing in Bitcoin
While the risk of Bitcoin is less than other crypto projects, the most significant risk is that Bitcoin fades out of the public eye in favor of more useful utility tokens. IBM pioneered computer technology in the past but was eventually outcompeted by newer companies with better products. Bitcoin could be dethroned by blockchain projects that offer better functionality and use cases or lower gas fees, damaging its reputation and reducing demand.
6. Polygon (MATIC) - A Valuable Layer-2 Solution
Market Capitalization: $9.8 billion
What is Polygon?
Polygon, formerly known as Matic Network, is a layer-2 scaling solution for the Ethereum blockchain. It was introduced in 2017 and is designed to address the scalability issues and high gas fees associated with the Ethereum network.
Polygon achieves this by creating a sidechain that operates independently from the Ethereum mainchain, while remaining connected to it. This sidechain results in faster and cheaper transactions but still allows users and developers to interact with the Ethereum network.
Why Invest in Polygon?
Polygon has set itself apart from the crowd as the market’s leading layer-2 solution, attracting some big-name partnerships. Adidas, Meta, Stripe, Starbucks, and Disney have all teamed up with Polygon to use its technology or help the Polygon ecosystem grow.
Polygon has found popularity in the crypto space with several notable projects thanks to its high speeds and low fees. Some of Polygon's collaborators include Curve Finance, Ocean Protocol, Chainlink, and Augur. Similarly, over 1,500 dApps are building on the Polygon network. The growth of Polygon’s ecosystem has increased demand for the cryptocurrency and is likely to continue to do so in the future.
Risks of Investing in Polygon
The success of Polygon is largely dependent on the growth of the Ethereum ecosystem. If Ethereum fails to maintain its market position or faces regulatory issues, the demand for Polygon could decrease.
Moreover, there is also the risk of competition from other layer-2 scaling solutions, like Arbitrum or Optimism, stealing Polygon’s market share. While Polygon currently sits well ahead of the pack, Arbitrum has been picking up traction recently and poses a threat to Polygon’s dominance.
7. Cardano (ADA) - A Viable Ethereum Contender
Market Capitalization: $11.3 billion
What is Cardano?
Cardano is a decentralized platform that was created by IOHK, a blockchain research and development company, in 2015. It was founded by Charles Hoskinson, one of the co-founders of Ethereum, and is built using a proof-of-stake (PoS) consensus mechanism. Cardano aims to solve the scalability, interoperability, and sustainability issues that currently exist in the blockchain space, utilizing a research-based approach to create a secure, scalable network.
Why Invest in Cardano?
Its development philosophy is one of the most significant reasons to consider investing in Cardano. Every upgrade is peer-reviewed by leading academics, which has led to Cardano becoming one of the only smart contract-enabled blockchains with a provably secure consensus mechanism.
Recent upgrades, like the introduction of the Djed stablecoin and Hydra, could provide even more reason to consider Cardano one of the best cryptos to invest in. Djed will open doors for Cardano’s DeFi capabilities, while Hydra could theoretically boost the network’s transaction speeds from around 250 TPS to 1 million TPS.
Risks of Investing in Cardano
One aspect that deters many crypto investors is how long it takes for Cardano to catch up with similar layer-1 networks. While Ethereum was enabling developers to build smart contracts back in 2015, Cardano only added smart contract capabilities in 2021. Cardano advocates argue that this is just the result of the slow-and-steady approach that makes the project one of the most theoretically advanced; others describe it as the reason Cardano won’t be able to seriously take on Ethereum.
Furthermore, Cardano faces stiff competition in the layer-1 space. Besides Ethereum and Binance Coin, projects like Solana, Polkadot, and Avalanche are all vying for the number one spot. If Cardano can’t differentiate itself and capture market share, then it could be doomed to fail.
8. Chainlink (LINK) - A Necessary Component for the Whole Market
Market Capitalization: $3.2 billion
What is Chainlink?
Chainlink is a decentralized oracle network that was introduced in 2017. It’s designed to provide secure and reliable connections between smart contracts and real-world data. This allows smart contracts to access off-chain data, like weather information or financial data, significantly expanding their capabilities.
Chainlink accomplishes this by using a decentralized network of nodes, which retrieve and verify data from multiple sources and feed it into the blockchain. One of Chainlink’s most popular uses is in the DeFi space, where it powers leading projects like Aave, Frax, and Compound.
Why Invest in Chainlink?
Chainlink has positioned itself as the go-to oracle network, leading to over 1,400 partnerships with players inside and outside of the crypto industry. Its current top competitor, Band Protocol, has just 70. The best-recognized names include Google, Oracle, and SWIFT, which speaks to Chainlink’s credibility and potential.
Chainlink is also incredibly versatile compared to other cryptos, connecting and working with a wide range of decentralized applications and protocols. This versatility has led to its adoption in various industries, including finance, insurance, and supply chain management.
Risks of Investing in Chainlink
Much of LINK’s price appreciation has been based on speculation rather than real-world utility. Up until staking was introduced in late 2022, LINK served little value in the Chainlink ecosystem and still doesn’t offer the same level of utility as other crypto projects.
There’s also the possibility that Chainlink doesn’t reach mainstream adoption, with enterprises opting to use custom-built solutions. This would limit Chainlink’s use in the market and severely hamper its long-term growth potential.
9. Filecoin (FIL) - Next-Generation File Storage
Market Capitalization: $2.2 billion
What is Filecoin?
Filecoin is a decentralized storage protocol that aims to take on centralized cloud storage providers. Instead of storing data on centralized servers, Filecoin uses a network of providers across the globe to store and distribute data in a decentralized manner. The platform was developed by Protocol Labs and launched in 2020 after several years of development.
Filecoin works by incentivizing users to provide storage space and bandwidth on their computers, creating a decentralized storage network. Users who have extra storage space can earn crypto rewards in FIL, Filecoin’s native cryptocurrency, by renting it out to those who need it. This has resulted in storage fees being significantly lower than that of centralized providers.
Why Invest in Filecoin?
As the demand for data storage increases almost linearly, the need for more solutions to handle all of this data also increases. For Filecoin, it doesn’t make sense for Google or Amazon to build more data centers when there are millions of terabytes of storage going unused across the world. As decentralized file storage picks up traction as a cost-effective, censorship-resistant way to store data, Filecoin stands to see rapid adoption.
Risks of Investing in Filecoin
Investing in Filecoin isn’t without its risks. The decentralized cloud storage market, while steadily growing, still dwarfs compared to the centralized industry. Suppose titans like Amazon, Google, and Microsoft see decentralized protocols like Filecoin as a serious threat. In that case, their dominance in the market could be used to easily rival Filecoin with a similar solution.
Secondly, the competitive nature of Filecoin’s storage costs may price some providers out of the market, similar to Bitcoin mining. This could then lead to more centralization, as those with the most resources take over the market.
10. Ripple (XRP) - Transforming the TradFi Landscape
Market Capitalization: $20.3 billion
What is Ripple?
Ripple is a payment network designed to take on the traditional SWIFT banking system. Ripple aims to provide a faster, cheaper, and more secure way for financial institutions to settle global transactions. The network uses its native cryptocurrency, XRP, as a bridge currency to facilitate these transactions. Instead of taking days to complete a transfer with high fees, Ripple transactions settle almost instantly at an insignificant cost.
While this innovation is remarkable, Ripple has been mired in controversy ever since the SEC filed a lawsuit against Ripple Labs, claiming that XRP is a security. Since then, XRP’s price has been suppressed by uncertainty surrounding the lawsuit's outcome.
Why Invest in Ripple?
Despite the ongoing case, Ripple has formed partnerships with several major financial institutions, like Santander, Bank of America, and American Express. This adoption sets a precedent for similar financial giants to consider using Ripple’s network, and as a result, the potential for Ripple's post-lawsuit success is massive.
Of course, Ripple’s future depends on the case's outcome, but many mitigating factors could result in a favorable outcome. Thousands of XRP investors and dozens of lawyers have thrown their weight behind the case while the SEC seems to be floundering.
Risks of Investing in Ripple
The most glaring risk of investing in Ripple is if it loses its lawsuit. In fact, this is a risk for the entire cryptocurrency market, as losing the landmark case opens doors for further scrutiny of other crypto projects. The decision is expected to cause extreme volatility, whatever the outcome of the case.
11. Apecoin (APE) - Powering the Metaverse
Market Capitalization: $1.7 billion
What is Apecoin?
ApeCoin is the native token of the Ape ecosystem. It was created by Yuga Labs following the massive success of its Bored Ape Yacht Club (BAYC) and related NFT collections. APE acts as a governance and utility token, allowing users to access exclusive events, services, and games and to vote in the ApeCoin DAO.
Since ApeCoin’s inception, Yuga has been steadily growing the Ape ecosystem with play-to-earn games like Benji Bananas and Dookey Dash. Most excitingly, in 2022, Yuga announced it was working on Otherside - a metaverse that will test ApeCoin’s true potential.
Why Invest in Apecoin?
Many investors in the crypto community consider Otherside to be the strongest reason to invest in ApeCoin. Otherside is being built in partnership with Animoca Brands, the parent company behind the already-successful The Sandbox metaverse game, and Improbable , a company specializing in metaverse technology and virtual worlds. Using Improbable’s M² network, more than 10,000 players will be able to interact in real-time in Otherside.
Otherside itself takes place on a distant planet inhabited by aliens called Koda. In a demo known as the “First Trip,” hundreds of players logged on to take on a boss, Koda. According to many, the demo was a resounding success. The polished game is expected sometime this year.
The hype surrounding Otherside is demonstrated by the popularity of Otherdeeds, the game’s virtual plots of land, and rumors about its rare in-game assets. Otherdeeds attracted over $500 million in sales in its first 24 hours and currently holds the fourth-highest all-time trading volume for any non-fungible token collection, according to OpenSea.
Risks of Investing in Apecoin
Given that much of ApeCoin’s current value is based on Yuga being able to launch and grow Otherside successfully, it’s arguably one of the more speculative crypto assets on this list, especially in the current bear market. If the metaverse hype subsides significantly, or Otherside debuts full of bugs, then APE could be severely negatively impacted.
12. Uniswap (UNI) - Giving Investors Control Over Their Trading
Market Capitalization: $4.7 billion
What is Uniswap?
Uniswap is a decentralized cryptocurrency exchange (DEX) built on the Ethereum blockchain. It uses an automated market maker (AMM) system, allowing users to trade tokens without an order book. Uniswap uses a smart contract to calculate the price of tokens based on their supply and demand. Users can trade tokens instantly without waiting for a buyer or seller to match their order.
One of the key features of Uniswap is its liquidity pools, which allow users to pool their tokens together and earn fees on trades that are executed using their liquidity. This allows users to earn passive income on their crypto assets while also providing liquidity to the Uniswap network.
Why Invest in Uniswap?
After witnessing the collapse of FTX, crypto investors are rightly skeptical of centralized exchanges. Uniswap, as one of the world’s most popular DEXes, stands to benefit as more users take control of their funds, which is why it ranks as one of the best cryptocurrencies to invest in.
Moreover, the UNI token has performed exceptionally well in past bull markets. Uniswap allows anyone to list a token and create a trading pair, meaning that many other crypto assets are listed first on DEXes like Uniswap. As more users and assets join the platform, the UNI token will likely appreciate over time.
Risks of Investing in Uniswap
UNI’s intrinsic link to the crypto market as a whole means there are fewer quirks that could be a catalyst for its growth. If cryptocurrency markets experience a downturn, the price of UNI could drop heavily.
UNI also faces competition from other DEXes and passive income solutions. If these projects garner more market share, then the demand for UNI could decrease.
What Is the Best Crypto to Buy Right Now?
Overall, the crypto tokens on this list are all solid choices. Of course, they aren’t without their risks, but there are also some strong supporting factors that could drive price growth as the market recovers.
In particular, AltSignals and Metacade seem like two great long-term investment opportunities with huge potential. Both tokens are still in presale but have plenty of room to grow thanks to their outstanding features. AltSignals’ proven track record and AI-centric plans could lead it to become the most profitable signal provider the market has ever seen.
At the same time, Metacade could one day be seen as the go-to community platform for all things GameFi. If you’re thinking of picking up some of the cryptocurrencies on this list, be sure to check these two projects out before it’s too late.
Related Crypto FAQs
What are cryptocurrencies?
Cryptocurrencies are digital assets that use cryptography for security and operate independently of a central bank. They are often decentralized and use blockchain technology to store and record transactions.
What is a crypto presale?
A crypto presale is a fundraising method used by cryptocurrency projects to raise money before their official launch. During a presale, investors can purchase tokens or coins at a discounted price in exchange for funding the project.
Which crypto will explode in 2023?
It is impossible to predict with certainty which crypto assets will explode in 2023. However, many analysts consider Metacade and AltSignals to have strong growth potential compared to their current prices.
Which crypto to buy today for the short term?
For short-term investments, it’s important to focus on cryptocurrencies with upcoming catalysts, like Ethereum’s implementation of sharding or ApeCoin’s release of Otherside.
Which crypto to buy today for the long term?
For long-term investments, it is important to look for cryptocurrencies with strong fundamentals and long-term growth potential. Some promising options for your crypto portfolio include Metacade, AltSignals, and Chainlink.
Which crypto has the most potential?
Cryptocurrencies with the most potential are those that have strong use cases, innovative technology, and a dedicated community of supporters. Metacade, AltSignals, Ethereum, Chainlink, and Filecoin fit this category.
What is the best cryptocurrency to invest in for 2023?
The best cryptocurrency to invest in during 2023 depends on a variety of factors. Picking market titans like Bitcoin, Ethereum, and Binance Coin is a safer bet but may offer fewer gains. Newer tokens, like Metacade and AltSignals, have the most growth potential.
Are there cryptocurrency ETFs (Exchange Traded Funds)?
Yes, there are cryptocurrency ETFs available. These exchange-traded funds track the performance of a basket of cryptocurrencies, providing investors with exposure to the broader crypto market. Some popular options include the Grayscale Bitcoin Trust and the Bitwise 10 Crypto Index Fund.
You can participate in the AltSignals presale here.
You can participate in the Metacade presale here.