The festive season is in full swing and the new year is just around the corner. After winding down over Christmas and spending plenty of hard-earned cash, many people will be tightening their belts and looking for ways to boost their revenue. If you haven’t already entered the world of cryptocurrency, perhaps 2023 is the time to start – here are the top five crypto investment options for 2023.
Ethereum
Ethereum is the original smart contract blockchain, launched in 2015 and changing decentralisation forever. If it weren’t for Ethereum, you wouldn’t have NFTs, DApps, or Defi solutions. The coin sits 2nd on the market charts, and it has done for years now, which is a testament to its popularity.
Unfortunately, such popularity was too much for Ethereum because of the gas prices and entry costs rising exponentially, which meant no one could afford to develop new projects there. Fortunately, they recently revolutionised their chain by combining their layer 1 and layer 2 chains. This eliminated proof-of-work consensus and moved towards proof-of-stake, which will reduce its impact on the environment and allow more developers to enter the block.
Solana
Solana only entered the blockchain space in 2020, but it’s already gained significant traction and sits 16th on the market charts. Solana, similarly to Ethereum, allows developers to use space on the chain to develop Dapps and other smart contract-based platforms. However, the entry rate is cheaper, and they use a unique consensus mechanism called proof-of-history.
Bitcoin
If you haven’t heard of Bitcoin, you’ve got a lot of learning to do before you’re using the crypto market to your advantage. Being the first cryptocurrency, Bitcoin has the most liquidity because it’s accepted at all exchanges and can now be used as payment at countless legitimate businesses. Bitcoin is often used as an indication of the wider crypto market’s worth, so it’s always worth having a reputable bitcoin trading platform on your side so you can safely buy crypto.
Apecoin
Apecoin only launched in March 2022, making it a baby in the crypto world. The reason we include this coin in the list is its resilience. Entering the scene during a seismic crypto market crash, it’s managed to reach a value of £39, which is pretty commendable. It can thank influencers and celebrities to thank for its high value because they jumped to invest in BAYC and MAYC, which were sought-after NFTs during the November 2021 boom.
Polygon
Ethereum was never designed for scalability, which is where Polygon comes into it. Built as a layer 2 solution on Ethereum, it uses its security protocols but allows developers to access space at much cheaper costs. Although the Merge made Ethereum scalable, its scope is limited, which means Polygon will continue to be relevant as we move into 2023.
The blockchain world is at an interesting juncture where the market is crashing but the mainstream is beginning to accept it. With that in mind, there are plenty of worthwhile cryptocurrencies to invest in 2023, like those discussed above.