16 Best Cryptocurrency to Invest in 2024 – Compare Top Crypto to Buy Now

Are you looking to gain exposure to cryptocurrencies but unsure which projects to invest in? 

There are more than 25,000 cryptos available to purchase and while many offer the potential for massive gains, others turn out to be total failures or outright scams.

For both new and experienced crypto investors, the sheer size of the market can be overwhelming.

In this guide, we analyze the best crypto to buy now and over a wide range of projects to suit both short and long-term investors, from upcoming projects still in their presale stage to established favorites such as Bitcoin and Ethereum.

Read on to discover the top crypto assets for 2023. 

A Closer Look at the Best Cryptocurrency to Invest in 2023  

In the sections to follow, we evaluate the best cryptos for 2023. 

1. Bitcoin ETF Token – Overall Best Crypto To Buy For High Passive Returns And Dynamic Token Burns For Long-Term Growth

Bitcoin ETF Token ($BTCETF) is currently the best crypto to buy, which is designed to capitalize on the potential approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). 

The $BTCETF token stands out for its connection to Bitcoin ETFs, which, if approved, could significantly impact the crypto space, potentially triggering a new bull run. $BTCETF’s presale is structured in 10 stages, each offering 84 million tokens. Prices range from $0.005 in the initial stage to $0.0068 in the final stage, with the current price at $0.0056. 

This tiered pricing strategy offers attractive entry points for early investors. The presale has quickly caught investor attention, with over $1.5 million already raised.

In terms of token supply, there are 2.1 billion $BTCETF tokens in total. Of these, 840 million are allocated for the presale, and a significant portion (525 million) is set aside for distribution through staking.

Staking is a prominent feature of the $BTCETF token. Early stakers can earn over 165% APY, but this rate will decrease as more tokens are staked. 

The opportunity to earn high returns through staking, especially in the early stages, is lucrative for potential investors.

Per the Bitcoin ETF whitepaper, a key aspect of the $BTCETF token is its burn mechanism, which aims to remove 25% of the total token supply. 

This process is triggered by specific milestones, such as $BTCETF reaching a $100 million trading volume, the approval of the first Bitcoin ETF, the launch of the first Bitcoin ETF, the total AUM of Bitcoin ETFs approaching $1 billion, and Bitcoin’s price surpassing $100,000. These strategic burns could increase the token’s scarcity and value over time.

The project has undergone a smart contract audit by Coinsult, which reported no major issues, adding a layer of trust and security for potential investors.

Investors can follow the Bitcoin ETF Token on X (Twitter) and join their Telegram channel. These community channels are crucial for staying updated on the project’s progress and for real-time news alerts regarding Bitcoin ETF approvals, which can significantly impact market movements.

2. Bitcoin Minetrix – Promising Crypto To Buy With A Unique Stake-To-Mine Mechanism

Bitcoin Minetrix is our next top pick for the best crypto to buy now because its unique protocol tokenizes the Bitcoin mining space – which has long been the preserve of multi-million-dollar companies.

With Bitcoin Minetrix, users can stake native token $BTCMTX to generate cloud mining power and earn BTC directly to the wallet on a dedicated mobile app, removing the high barrier for entry.

The project has become a hit with investors as it opens up cloud mining to retail investors from just $10.

More than $4.3 million has been raised since the project launched, while buyers are also able to immediately add their tokens to the staking pool and earn 140% annual percentage yield (APY).

The average cost to mine 1 BTC is currently over $30,000 given the advanced computer hardware, processing power and energy consumption, meaning it is largely in the hands of huge companies.

Cloud mining – where users or groups rent hardware or processing power – emerged as an alternative but has not been that successful due to scammers insisting on long contracts and huge up-front fees.

By tokenizing the process, Bitcoin Minetrix allows BTCMTX token holders to mine BTC safely and autonomously – as they are able to withdraw their tokens at any time.

The process works by staking BTCMTX, which generates cloud mining credits, a non-transferable ERC-20 token. The credits are then burnt to purchase cloud mining power, with mined BTC then distributed to stakers via the Bitcoin Minetrix app.

The project has already been a huge success with over $2 million raised and over 160 million tokens added to the staking pool. $BTCMTX is currently priced at $0.0117 during the presale, with the price to increase 26.5% to $0.0148 by the final stage.

3. Meme Kombat – Unique Meme Coin with Play-to-Earn Wagering

Meme Kombat ($MK) is an exciting new meme coin that has huge utility and offers two major ways for holders to generate additional returns.

The first is through its staking mechanism, with presale buyers able to immediately stake $MK and earn a huge 450% APY during the presale, which has now raised more than $2 million.

Its biggest feature, however, is the Battle Arena – a play-to-earn game where players bet on the outcome of battles between loved meme characters.

That includes player-vs-player and player-vs-game matches, with 11 characters available in season one, with the likes of Pepe to face Shiba Inu and Floki vs Sponge.

The Battle Arena is powered by blockchain technology and artificial intelligence and means that all results and outcomes are immutable, transparent, secure and fair, while winners will be paid their tokens immediately.

As well as betting outright on the result of the battle, there will be lots of side bets available, as well as long-term trends to wager on to add depth and intrigue to the game.

The developers – who are doxxed and public-facing, a rarity in the meme space – have taken a seasonal approach to the game which means that new characters, themes, and even game modes will be added to the Battle Arena over time.

$MK tokens are currently available at their lowest price during stage 3 of the presale, $0.214. For more information on the project read the Meme Kombat whitepaper or join the Telegram group.

Interested crypto enthusiasts and meme degens can find out more about how to buy $MK tokens in our dedicated beginner’s guide.

4. TG.Casino – Newly Launched Telegram Casino with 200% Bonus + 25% Cashback

TG.Casino is a newly launched crypto casino powered by Telegram that is now open to players globally.

It offers thousands of slots, virtual and live dealers for poker, blackjack, roulette, and other table games, and sports betting on a huge variety of top sporting competitions with pre-game and in-play markets.

By using powerful Telegram bots it enables players to instantly and anonymously create a new account without the need for KYC verification, as well as deposit and withdraw crypto anonymously with no fees or limits.

TG.Casino also has a native token, $TGC, that is among the best crypto to invest in because it opens up numerous ways for players to earn extra rewards. Prospective investors can learn how to buy the TG.Casino token in a couple of simple steps.

$TGC is one of the best crypto presales and has already raised more than $2.9 million having only just launched.

During the presale, buyers can immediately stake tokens and earn an APY that currently sits at over 200%.

Holding and staking $TGC will also allow players to earn profits from the casino via its buyback – TG.Casino will regularly purchase tokens and distribute them to stakers, with 60% of the purchased amount being used for profit-sharing.

The remaining 40% will immediately be sent to a burn address, making the supply of the token deflationary and helping to increase its value over time.

New players at the casino will receive a 200% welcome bonus, up to 10 ETH, but those who play with $TGC when it launches will also earn 25% cashback on weekly losses.

More information on TG.Casino and $TGC can be found in the whitepaper or the TG.Casino Telegram channel.

5. Wall Street Memes – Trending Meme Coin with New Crypto Casino

Wall Street Memes is the overall best crypto coin to buy and is already a top meme coin despite only launching in mid-September.

$WSM is already the fifth-largest meme token by trading volume, trailing only major players Dogecoin, Shiba Inu, Pepe, and Floki. However, while those projects all have market caps in excess of $250 million, Wall Street Memes’ market cap is only $50 million – signaling massive potential for growth.

The project has also just launched the WSM Casino which adds huge utility that beats those rivals.

The Telegram-powered decentralized casino will allow players to create an account anonymously, with no KYC checks required, and deposit/withdraw a dozen cryptos with no fees or limits.

The casino uses Telegram bots to allow instant play with command-based prompts and offers thousands of leading slots, poker, blackjack, roulette, and other classic table games, and full sports betting with markets on the NFL, NBA, Premier League and dozens of other sports.

New players earn a welcome bonus of 200% matched on their first deposit up to $25,000, while those who deposit and play with $WSM get an extra 200 free spins.

$WSM can also be staked and is proving extremely popular with current holders. Almost 500 million tokens (25% of the max supply) are locked in the staking pool returning 40% APY.

The project already had a huge following before its token launched with more than a million followers across its social media platforms, which are largely focused on anti-Wall Street memes and banter. Even Elon Musk has interacted with the page on multiple occasions.

Wall Street Memes first launched an NFT project in 2021, which sold out in 30 minutes, before the $WSM token presale became one of the biggest ever after raising more than $25 million.

Join the WSM Casino via Telegram or connect with the project on social media via Linktree.

6. Launchpad XYZ – Simplifying the Web3 Investment Space for Consumers

Launchpad XYZ offers growth investors exposure to the Web3 industry. It is building a decentralized portal for consumers, allowing them to navigate Web3 assets without any prior experience.

For example, Launchpad XYZ users can invest in fractionalized assets. This will include stores of value such as fine art, real estate, and luxury cars. 

While these assets are inaccessible for many, Launchpad tokenizes ownership into tiny fractions. This makes them affordable for the masses. What’s more, tokenized assets can be traded on the Launchpad XYZ exchange. This is in addition to traditional cryptocurrencies and NFTs.

Launchpad XYZ will also offer metaverse experiences and an AI-backed chatbox and also has an alpha Telegram group that recently provided its members a 7,000% call on LINQ.

The latter enables users to seek investment guidance from artificial intelligence. This can help unlock unparalleled insights into the next best crypto to trade.

Additional Web3 assets are available to those staking LPX tokens, which are native to Launchpad XYZ. For example, by staking at least 25,000 LPX, users receive a $500 allocation to private presales. 

Stakers will also receive access to exclusive NFT mints. This is in addition to pre-released play-to-earn projects and discounted trading fees.

The Launchpad XYZ presale has raised over $2 million and early investors will receive a discounted entry price. Each LPX token costs just $0.0445.

7. yPredict – Decentralized Marketplace for Predictive Models Built via AI and Machine Learning   

yPredict is another of the hottest new cryptocurrencies. This is a presale project that has developed a decentralized marketplace. Its marketplace will enable data scientists and quants to monetize their predictive models. Each model uses innovative technologies like AI and machine learning and will have a specific use case and strategy. 

For example, some models are aimed at short-term crypto traders that seek real-time insights. But instead of manually analyzing charts and trends, yPredict predict models automate the process.

There will also be predictive models that offer real-time trading signals. The signal informs users of which cryptocurrencies to buy, alongside the suggested entry and exit price. 

yPredict will also host predictive models that perform sentiment analysis. This informs users of the hottest coins in the market, based on social media metrics. For example, the number of ‘likes’ or followers a crypto project gets on Reddit and Twitter. Irrespective of the predictive model, there is a solid vetting process in place before they are sold. 

Put simply, the yPredict DAO will test each model to assess its performance and viability. If the DAO approves it, users will be able to subscribe to the model.

Fees are paid in YPRED tokens, which are native to yPredict. YPRED is also the investment token of yPredict. Its presale has raised over $4.95 million. Currently, a presale discount of over 16% is available. 

8. Chimpzee – Green Crypto Project Combining Environmental Practices with Sustainable Growth   

Chimpzee is the best crypto to buy now for sustainable investors. The project will appeal to investors seeking sustainable growth while simultaneously making the world a better place.

At the forefront of this is helping endangered animals and combating deforestation. For example, Chimpzee recently donated $15,000 to the WILD Foundation and has raised more than $1.7 million in its presale.

This organization helps protect elephants from poachers. Chimpzee has also donated funds to deforestation charities. This has yielded 20,000 new trees in Guatemala. Not to mention 1,200 trees in the Amazon rainforest.

Many other green projects are lined up, which are funded in various ways. For example, a portion of Chimpzee merchandise sales are donated to charities. 

Moreover, Chimpzee has also created an exclusive collection of NFT passports. Not only does this provide access to its play-to-earn game but holders receive passive rewards. Staking a Chimpzee NFT will yield an APY of up to 20%. The proceeds from its NFT sales will help fund Chimpzee’s sustainable goals. 

Chimpzee will also appeal to long-term investors, especially those investing in its presale. Currently, each CHMPZ token is selling for just $0.00125. After the presale, CHIMPZ will be listed on an exchange at $0.00185.

9. Scorpion Casino – Online Casino Tokenization With a Presale Upside of Over 200%

Scorpion Casino has developed a unique concept; a decentralized casino site that is backed by crypto tokens. Its casino is also live, allowing players to gamble cryptocurrencies anonymously.

Scorpion Casino hosts everything from blackjack, video poker, and slots to live dealers and sports betting and has now raised around $1.8 million in its presale.

The project’s native token, SCORP, is currently being sold at presale prices. There are many perks to buying SCORP early. First and foremost, the current presale price is just $0.017. Compared to the exchange listing price of $0.05, that’s an immediate upside of over 200%. Not only that but early presale investors will also be eligible for an exclusive NFT. 

There are four NFT types available, Bronze, Silver, Gold, and Platinum. Scorpion Casino NFTs come with many benefits. This includes a presale bonus of up to 40%, not to mention 25% in free casino credits. The specific NFT received depends on the amount invested and requires a presale purchase of at least $1,000. 

Additionally, SCORP tokens can be staked to earn passive rewards. These are paid daily and can be used to gamble on Scorpion Casino games. Scorpion Casino is also running a $250,000 giveaway.

Presale investors are automatically entered into the giveaway after completing their purchase. Do note that once the current presale batch sells, the price of SCORP will increase. 

10. eTukTuk – Creating a Network of Electric Tuk-Tuks and Charging Stations in the Emerging Markets  

eTukTuk is also one of the best new crypto to invest in for long-term sustainability. Put simply, the project will reduce carbon emissions in the emerging markets through electric tuk-tuks.

Not only will this help overpopulated cities reduce their carbon footprint but also make transportation more affordable. 

eTukTuks are developed with locally sourced materials and with sustainability and safety in mind. What’s more, the project will also power a network of charging stations. This will further reduce costs for drivers. We also like that the eTukTuk ecosystem is being developed on the blockchain. 

This offers many benefits for eTukTuk drivers, such as transparent pricing and the ability to tokenize ownership. The blockchain will also allow eTukTuk drivers to tokenize their identities, enabling them to remain compliant with local transportation bodies. eTukTuk also has its own native token, TUK. 

TUK comes with many utilities, including payment for electric charging services. It can also be used by passengers when paying eTukTuk drivers.

TUK is currently being sold on presale, where more than $250k has been raised so far, with more than 850% staking APY available. 

11. Polygon – Layer 2 Solution for Ethereum – Increasing Scalability to 65,000 Transactions per Second 

Polygon was launched in 2019 with a simple objective – to help Ethereum-based projects to increase scalability, speed, and cost-effectiveness.

In a nutshell, ERC20 projects ‘bridge’ to the Polygon network, while remaining on the Ethereum blockchain. This increases the efficiency of ERC20 projects considerably. 

For instance, Polygon can handle up to 65,000 transactions per second. While the Ethereum network can currently handle just 12 transactions per second. Additionally, Polygon transactions take just two seconds to process. What’s more, Polygon transaction fees are much lower than Ethereum. 

In light of this, the Polygon ecosystem now boasts over 200 ERC20 projects. This includes everything from Chainlink, Render, and Decentraland to Aave, Dai, and Gala. To operate within the Polygon ecosystem, projects pay fees in MATIC. This is Polygon’s native token and it currently has a market capitalization of $6.3 billion. This is 70% lower than its all-time high. 

Cryptocurrencies are a volatile asset and prices may go up or down

12. Chainlink – Connecting Blockchains and the Real-World With Reliable Data  

Chainlink is an established crypto project that connects blockchains with real-world data. Ordinarily, blockchains can only obtain data from within their respective ecosystems.

This prevents blockchains from accessing real-world information – something that will be crucial in the Web 3.0 space. 

Chainlink solves this issue through ‘Oracles’. Put simply, Oracles obtain data from online sources and feed it back into blockchain smart contracts. Chainlink Oracles are decentralized and data is only considered after it has reached consensus. This ensures that data is free from manipulation and inaccuracies. 

For example, suppose Chainlink provides flight information to an insurance-based smart contract. It will check thousands of data providers in real-time to ensure the information is correct beyond doubt. Developers pay fees to use Chainlink Oracles, settled in LINK tokens. LINK is currently valued at $3.8 billion – 80% below its former peak. 

Cryptocurrencies are a volatile asset and prices may go up or down

13. Ethereum – Large-Cap Smart Contract Ecosystem Supporting Over 450,000 ERC20 Tokens  

Launched in 2015, Ethereum is the most valuable cryptocurrency after Bitcoin. As per CoinMarketCap data, Ethereum currently has a market capitalization of over $220 billion.

Its decentralized framework enables developers to build and execute smart contracts. More than 450,000 ERC20 tokens have built their ecosystems on top of Ethereum. 

Some of the most recognized ERC20 projects include Tether, USD Coin, Shiba Inu, Dai, the Sandbox, Decentraland, and Enjin. Whenever an ERC20 transaction goes through the Ethereum network, fees are paid in ETH. This creates demand for ETH, making it one of the best cryptocurrency to buy now for utility. 

Ethereum also has a solid investment thesis – especially at current prices. For instance, while investors will currently pay around $1,800 per ETH, this is over 60% below its all-time high. Additionally, the Ethereum Foundation is working on many core improvements to the network. This includes a significant increase in scalability and a decrease in GAS fees.    

Cryptocurrencies are a volatile asset and prices may go up or down

14. Cosmos – Market Leader in Interoperability – Enabling Blockchains to Communicate and Share Data 

Cosmos is the best coin to invest in preparation for Web 3.0. After all, blockchains are expected to play a major role in the next generation of the internet.

But currently, blockchains can only share data within their own networks. This limits the real-world use cases for blockchain. 

This is where Cosmos comes in. It has developed the Inter-Blockchain Communication protocol, which supports blockchain ‘Interoperability’. Put simply, this enables multiple blockchains to communicate and share data. This means Web 3.0 technologies – like crypto, NFTs, and the metaverse, can operate across multiple networks. 

For example, an Ethereum NFT can obtain data from the Solana ecosystem. Or XRP tokens can transfer data to Cardano. Cosmos is fueled by ATOM, its native crypto token. ATOM currently has a market capitalization of just under $3 billion. That said, during the prior bull market, ATOM was valued at over $10 billion. This offers a discounted price of over 70%. 

Cryptocurrencies are a volatile asset and prices may go up or down

15. Bitcoin – Long-Term Store of Value With a Discounted Entry Price of Over 55%

Bitcoin is the most recognized crypto asset globally. According to CoinMarketCap data, Bitcoin has generated gains of over 4.7 million percent since 2011.

At its peak, Bitcoin was valued at over $1.2 trillion. Currently, Bitcoin is trading over 55% lower, giving it a market capitalization of approximately $565 billion. 

This offers a great entry price for investors. After all, the next Bitcoin halving event is expected in April 2024. This is often the catalyst for a new, extended rally – considering the Bitcoin mining reward is reduced by 50%. Bitcoin is also considered a great store of value. Its supply is predictable and limited – capped at 21 million BTC. 

Unlike other stores of value – such as real estate and gold, Bitcoin is easily transferred. It can also be fractionalized into small units, making it accessible to all budgets. Bitcoin is also used as a hedge against hyper-inflationary currencies, such as the Turkish lira and Argentine peso. Most importantly, Bitcoin is completely decentralized and is not controlled by any government. 

Cryptocurrencies are a volatile asset and prices may go up or down

16. Stellar – Financial Inclusivity for the Unbanked With Fast and Low-Cost Global Transfers 

Stellar is an established cryptocurrency that was launched in 2014. It has its own blockchain network, which is one of the most efficient in the market.

For instance, Stellar can handle up to 1,500 transactions per second. It has an average block confirmation time of 5-6 seconds and fees cost just 0.00001 XLM (about $0.0000013).

Stellar has many use cases, especially for people living in the developing world who do not have access to basic financial services. According to the World Bank, more than 1.4 billion people are still without access to a bank account. This means that people rely on third-party remittances more than ever. 

The Stellar network cuts out the middleman and drastically reduces fees and transfer times. In other words, beneficiaries receive the vast majority of their remittance payments. Stellar is also suitable for companies needing to make cross-border payments. IBM and MoneyGram, for instance, have already partnered with Stellar. 

Stellar’s native cryptocurrency, XLM, currently has a market capitalization of $3.8 billion. This is over 75% below its former all-time high. As such, XLM is the best crypto to buy now for a hugely discounted entry price.  

Cryptocurrencies are a volatile asset and prices may go up or down

How to Decide Which Cryptocurrency is Best for You

It is important to know that not all cryptocurrency investments will generate profits. Bitcoin, for example, has shown incredible gains over its lifecycle but investors who bought during the 2021 bull run now hold an asset that is more than 50% down from its all-time high.

BTC may well recover to reach new all-time highs but it is not guaranteed – cryptocurrency is a highly volatile asset class and many projects see huge gains only to fall away and fail to ever recover. 

Therefore, research is absolutely crucial when selecting the best crypto to buy now and investors should also be aware of their own tolerance for risk and budget before investing in any token.

Here’s what to consider when searching for the best upcoming ICOs. 

Does the Token Have Utility?

A good starting point is to evaluate the utility of a crypto token. In simple terms, utility refers to the token’s use case. For example, we mentioned that YPRED tokens are required to purchase yPredict’s trading and predictive models. 

• This means people will have a reason to buy YPRED tokens, other than for investment purposes only. 
• Similarly, TUK tokens are used for payment at eTukTuk charging stations – this incentivizes drivers to buy and hold TUK. 

Over time, a token’s utility can increase demand, especially for non-crypto investors.  

In contrast, some crypto tokens do not have any utility. While they can still generate investment gains, the target market is smaller. This is because people will only buy the respective token for speculation, rather than any identifiable use cases.  

Meme coins are the most obvious example of this, with that particular crypto niche existing solely on hype, community interest and FOMO (fear of missing out).

Several meme coins such as Pepe, Wojak and Sponge have made incredible headlines in 2023 after returning thousands of percent in profits for early buyers. There are dozens more, however, that have failed and left investors with nothing.

Does the Project Have a Sizable Community? 

Some crypto projects have had unparalleled success because of a large community following. After all, token holders are incentivized to promote their crypto investments to the broader market. 

This means sharing and liking posts on social media and spreading the word on Reddit and other forums – this can quickly create hype and FOMO, meaning more people invest in the project.

Shiba Inu is a great example of a cryptocurrency that witnessed huge growth without any identifiable use cases. Due to the size of its community, Shiba Inu became a multi-billion dollar cryptocurrency within a year of its presale. 

A similar trajectory could be seen with Wall Street Memes. Just like Shiba Inu, Wall Street Memes is a meme coin with a huge online following. More than 40 million people view its memes every month, which generates significant exposure. 

This has filtered down to the Wall Street Memes presale campaign, with over $25 million raised from investors in just 12 weeks. If Wall Street Memes retains its momentum after its initial exchange listing, the upside could be sizable. 

Does the Crypto Project Solve Any Existing Problems? 

When choosing the best crypto investments, investors should research what problems the project solves, if any. This can help the project grow as more people become aware of the solution. 

• For instance, Launchpad XYZ makes the Web3 investment space more accessible to consumers. 
• A great example is the platform’s fractional asset feature. 
• Put simply, Launchpad XYZ will purchase a store of value, such as real estate or fine art. 
• It will then tokenize the asset into small units. 
• Consumers can then buy a small fraction of the asset, often for just a few dollars. 
• Launchpad XYZ has also developed a decentralized exchange, enabling users to trade their fractional assets. This makes it a top crypto to buy.

Word of caution – many crypto projects have highly ambitious objectives and while they might claim to have a solution for a real-world problem, this isn’t always the case.

The project might need several years to achieve its goals, if they ever achieve them at all, which increases the risk significantly. 

Again, proper research and due diligence comes into play. Even if a project promises to solve a major issue, does it have a plan and the capability to do so?

What is the Upside Potential of the Crypto? 

The upside potential is extremely difficult to ascertain with any certainty, after all, the crypto markets are unpredictable and often irrational. 

For instance, at its peak, Shiba Inu had a market capitalization of $38 billion. This means Shiba Inu was worth more than the majority of US-listed companies, despite its limited real-world utility.

Shiba Inu has since added various utilities to its ecosystem – including its own layer-2 blockchain, decentralized exchange, NFT collection and metaverse – but its price has struggled to recapture those highs of early 2021.

Nonetheless, the market capitalization is one of the most effective ways to assess the upside potential of a crypto. 

For example, while Bitcoin is one of the best crypto to buy now, it is already valued at over $500 billion. Similarly, Ethereum is currently valued at over $200 billion.

There is still an upside on these large-cap cryptocurrencies, and they are considered much safer than newer coins, but gains will be limited when compared to smaller projects.

This is why presales are so attractive to crypto investors. After the presale finishes, the majority will be listed on exchanges with a market capitalization of under $10 million. If the project then takes off, it can appreciate rapidly.  

As an example, BTC20 recently launched on exchanges having sold out its $6 million presale in just two weeks – the token then pumped 500% from $1 to almost $6 within three days of its listing.

Bitcoin, on the other hand, would need to reach a price of around $160,000 to make a 500% gain.

While that’s definitely possible in the future, it could take years because of the sheer size and volume needed for a move to that price, before even considering the resistance it would face on the way up as other investors took profits.

Are There Any Bear Market Discounts Available? 

Bear market discounts are highly attractive. They enable investors to ‘buy the dip’ when the broader markets are down. In other words, the best cryptocurrencies to invest in can be purchased at a huge discount. 

This strategy is also used in the stock market. For example, in early 2020, the S&P 500 declined from 3,380 points to just 2,304 points in a week. Those buying the dip would have secured a discount of over 30%. Since then, the S&P 500 has hit highs of 4,607 points, translating to growth of almost 100%. 

Currently, the majority of cryptocurrencies are also trading at a huge discount. This has been the case since the markets peaked in late 2021.

Bitcoin and Ethereum, for instance, are trading at over 55% and 60% below their all-time highs. In turn, now could be a smart time to start buying quality cryptocurrencies while prices are still low. 

Does the Project Have Notable Partnerships or Endorsements? 

The cryptocurrency markets are very reactive – especially when a positive news development is announced. For example, if a project secures a promising partnership with an established company. Or if a public figure endorses a specific cryptocurrency.  

Crucially, this often gives a crypto project credibility. For example, Stellar has formed partnerships with IBM and MoneyGram, which highlights that its payments network offers real-world value and is valued by globally recognizable firms. 

Similarly, we found that Elon Musk has replied to a Wall Street Memes Twitter post. While Musk simply commented ‘Literally’, the post was viewed more than 1 million times. This brought a significant amount of eyes to the Wall Street Memes presale. 

Important Considerations When Looking for the Best Cryptocurrency to Invest in

The risk-reward spectrum of cryptocurrencies is much higher than the stock market, which means that while the upside potential is high, so are the risks. 

Before investing, consider the important points discussed below.

Evaluate Affordability  

After choosing the best crypto to buy right now, one of two things can happen, the investment can either yield a profit or a loss.

Investors should, therefore, ensure that they are only investing money they can afford to lose. 

So before investing, it’s wise to do some calculations on everyday expenses, such as rent, food, and taxes and take all of that into account before setting an investment budget.

As outlined in the risk profile box above, some investors will have more spare cash than others based on wide variety of factors and financial responsibilities.

Independent Research is Crucial  

Never buy a cryptocurrency because of third-party advice. While analysts can help with insights and predictions, these should be taken with a grain of salt, with many influential players in the industry being paid to offer positive opinions.

Instead, take these recommendations as a prompt to look further into a project and then carry out independent research. 

This will ensure that the crypto investment is made in an informed manner. There are many ways to research the viability and potential of a cryptocurrency. This includes the project’s whitepaper, which should outline its goals and unique selling points. 

If the cryptocurrency is already established, consider reading relevant news stories. CoinMarketCap can also be used to analyze the financials, such as market capitalization and real-time pricing.

Create a Diversified Portfolio  

Seasoned investors will need to build a diversified portfolio as it reduces project-specific risks. In essence, do not put all your eggs in one basket.

• For example, consider an investor who went all-in on FTX Token near its peak of $77. 
• Currently, the investor’s crypto portfolio would be down 98%. 
• An experienced investor might have allocated just 5% of their portfolio to FTX Token. 
• The balance would have been made up of other cryptocurrencies. 
• This means that the FTX collapse wouldn’t have had a major impact on their overall portfolio. 

The specific breakdown of a portfolio will depend on the investor’s risk profile. For example, some investors will allocate a small percentage to cryptocurrencies and the rest to other assets. This might include index funds and stocks. 

Either way, the crypto-portion of the portfolio should be well diversified. For instance, if the investor has $1,000 to invest, they could buy 20 different cryptocurrencies at $50 each. Or 10 cryptocurrencies at $100 each, etc.  

Create a Suitable Investment Strategy  

There are many different ways to buy and sell cryptocurrencies. Investors should choose a suitable strategy for their goals and risk tolerance. 

For example, some investors prefer buying and holding crypto tokens long-term. This often means ignoring short-term trends and buying more tokens when prices are cheap. This strategy is ideal for beginners and those looking to invest passively. 

Some crypto investors are a lot more active, where short-term gains are more favorable. For instance, they might decide to buy a presale crypto like Wall Street Memes. Due to the immediate upside on offer, they might sell the presale crypto after it’s listed on exchanges. 

Alternatively, some investors prefer trading cryptocurrencies, taking advantage of market volatility.

However, this requires knowledge of chart analysis and technical indicators, which won’t suit newbies and takes a while to master.

Get Ready for Volatility and Unpredictability   

Cryptocurrencies are still a new concept, especially when compared to stocks and other assets. This makes it a lot more difficult to predict market cycles. The speculative side of cryptocurrencies is also an issue. 

The markets are extremely volatile, which can be intimidating for novice investors. Irrespective of the crypto being purchased, volatility cannot be avoided.

Investors must be prepared to see their portfolio rise and fall rapidly, and over short periods of time. 

While timing the markets is often impossible, investors should have an exit strategy in place – cashing out a percentage of gains once the crypto hits a specific price to ensure some gains are earned.

Is Now a Good Time to Buy Crypto? 

Similar to other financial markets, even the most successful investors find it difficult to predict broader cycles. This is especially the case in the volatile crypto markets. For example, Bitcoin peaked at over $68,000 in late 2021. 

It has since hit lows of around $16,500 in December 2022, a decline of approximately 75%, but in July 2023 returned to almost $32,000, a gain of 90% in those seven months.

The key point is that predicting these wild highs and lows is beyond realistic for most, even industry experts make poor calls and are unable to confidently pick when Bitcoin and other cryptos will improve or decline.

With this in mind, rather than trying to time the market, it might be best to dollar-cost average (DCA) crypto investments. 

This is a strategy where investors buy a small amount of crypto every week or month. When the markets are declining, the investor will buy crypto at a lower price point. And when the markets are rising, the investor will see their portfolio grow.    

It will mean that short-term volatility has a lesser affect on a portfolio and is more in line with a longer-term strategy. This strategy should be used in conjunction with diversification.

Another option is to fully capitalize on the crypto bear market. For instance, some investors will ‘double down’ when prices are low, as they are right now. This enables investors to buy the best cryptos at a huge discount. 

This strategy will pay off if the chosen cryptocurrencies regain their prior highs during the next bull run. But of course, there are no guarantees that this will happen and prices can always drop lower than they currently are.

Conclusion 

In summary, we have cleared the mist on the best crypto to invest in in 2023. However, investors should still do their own research and ensure they create a well-diversified portfolio.

In our view, Bitcoin ETF TOken is the best crypto coin to buy now – this trending token has already raised more than $1.5 million during its presale in just a few days and buyers are also able to instantly stake tokens and earn an over 165% APY. It also has a dynamic burn mechanism linked to Bitcoin ETF approval milestones.

References

• https://coinmarketcap.com/view/polygon-ecosystem/
• https://crypto.com/company-news/global-cryptocurrency-owners-grow-to-425-million-through-2022
• https://dashboard.stellar.org/
• https://twitter.com/elonmusk/status/1636924379086077954
• https://www.independent.co.uk/news/business/gamestop-share-price-reddit-hedge-fund-melvin-capital-b1793543.html
• https://coinmarketcap.com/currencies/polygon/
• https://blockchair.com/ethereum/charts/transactions-per-second
• https://coinmarketcap.com/view/polygon-ecosystem/
• https://coinmarketcap.com/currencies/chainlink/
• https://coinmarketcap.com/currencies/ethereum/
• https://www.worldbank.org/en/news/feature/2022/07/21/covid-19-boosted-the-adoption-of-digital-financial-services
• https://coinmarketcap.com/currencies/shiba-inu/

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