The 9 Best Cryptos (Besides Bitcoin) For 2023
When most of us think of cryptocurrency, our minds instantly go to Bitcoin. And there is a good reason for this. After all, Bitcoin is the most well-known and valuable cryptocurrency on the planet, so it’s a lot of people’s top pick. But at the same time, the crypto industry has many tokens with immense benefits that are not Bitcoin.
In 2023, a smart crypto investor should have many tokens in their portfolio to reap benefits from, and you’ll probably be spoiled for choice. Here are the 9 best cryptos for 2023.
1. Ethereum:
After Bitcoin, Ethereum is the world’s most valuable cryptocurrency and this alone would make it a great choice. However, Ethereum has a lot more going for it beyond this. The token’s underlying blockchain is the foundation for a majority of NFTs, D’apps, and smart contracts. This means that it will probably be used well into the future and this bodes well for those who use the token.
In the last year, Ethereum has also switched over to a proof-of-stake consensus, which means that it is more environmentally friendly. So, for anyone looking to invest in crypto outside of Bitcoin, Ethereum is a good option.
2. Tether:
A very unique type of crypto is stablecoins; tokens whose value is pegged to non-crypto assets or fiat currency. In the case of Tether, the world’s biggest stablecoin, USD is the currency used to determine its value. This has made it an attractive option for crypto users who want the benefits of digital assets but also want to avoid some of the market’s infamous volatility.
Tether is also a great option because it acts as a bridge between fiat currency and cryptocurrency. If an investor wants to move their funds between crypto and USD, Tether allows them to do so while still holding cryptocurrency.
3. XRP:
XRP is the native token of the Ripple Labs ecosystem, and it has made a name for itself as the go-to token for cross-border transactions. Using XRP, users have been able to move millions of dollars in funds and only pay a fee in pennies. And given how popular crypto is in countries that have high international remittance rates, XRP has certainly found its niche.
Ripple Labs also recently scored a victory in court over the SEC by proving that XRP is not a security, so this should boost investor confidence.
4. Dogecoin:
At first glance, Dogecoin might seem a bit silly. It is a cryptocurrency based on the iconic internet meme of the Shiba Inu dog and is deeply rooted in pop culture. But don’t be fooled; Dogecoin saw an explosion in value and popularity a few years ago and has continued to be relevant ever since. And its creators are looking to Dogecoin’s use cases outside of memes.
There are plans to create a DEX centred around the cryptocurrency, and it has been more widely accepted over the years. Online casinos that accept a wide range of supported cryptos to play seem to especially like Dogecoin, and it’s also a favorite with Elon Musk.
5. Cardano:
Cardano is the brainchild of Charles Hoskinson, one of the founders of Ethereum, and has been designed to make up for what he sees as its flaws. As such, Cardano was using a proof-of-stake consensus before Ethereum did and is notoriously more scalable.
These have led Cardano and another crypto called Solana to be dubbed ‘Ethereum Killers’. It has proven itself to be a solid crypto over the years both in terms of its underlying use cases and as a speculative token, often being ranked as one of the top ten crypto by market cap.
6. WallStreetMemes:
Another meme coin on this list is WallStreetMemes, a token that was created as an homage to the Gamestop saga of 2021. The idea behind the token is financial inclusion and allowing everyday people to make money off the existing financial system.
Powered by its ERC-20 token based on the Ethereum blockchain, WallStreetMemes has plans for listings on major crypto exchanges. It also has a detailed tokenomics plan that intends to see the token retain and increase its value over time. $WSM can also be staked, which offers another way by which users can make money off it.
7. Tron:
As a token, Tron’s mission has been to empower creators and make sure that they are able to benefit financially from the works they create. Some of the project’s efforts have included the purchase of the popular torrenting site BitTorrent back in 2018.
The project has continued to grow from strength to strength, ranking as one of the top cryptos in the world. For investors who believe in its mission cause or who simply want to buy into this promising project, Tron is a highly recommended token.
8. Binance Coin:
This ERC-20 token would have been significant simply because it can be staked and is environmentally friendly. But it also has the added benefit of being associated with Binance, one of the biggest crypto exchanges in the world.
This BNB token can be used to pay trading fees on the platform and attracts a discount for users. Given how widely used Binance is, BNB gets a lot of use. So much use, in fact, that it is ranked as one of the top 20 cryptos in the world based on market cap. For anyone who trades with Binance or who just wants to diversify their portfolio, BNB would be a good choice.
9. Solana:
Another ‘Ethereum Killer’ in the same vein as Cardano, Solana can process more transactions per second than Ethereum and is also widely used for smart contracts and D’App development. Naturally, Solana has become one of the top ten cryptos by market cap and is high in demand.
For years, there has been debate about whether Solana could actually unseat Ethereum but regardless of what side you are on, Solana is a worthy investment.
