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The 4 Best Cryptocurrencies to invest in for 2023

The 4 Best Cryptocurrencies to invest in for 2023

The 4 Best Cryptocurrencies to invest in for 2023
The 4 Best Cryptocurrencies to invest in for 2023
Business News 2 hours ago Same Emmanuel 1
In the financial field, a topic that has attracted much interest in recent years is Bitcoin. This Cryptocurrency has gained a lot of relevance given its enormous value in the space of a very few years, rising from 500 to more than 34,000 euros in early 2021.

Moreover, its volatility, marked by price fluctuations of up to 30 percent in a day, if appropriately exploited through a trusted exchange, can bring excellent gains.

What are Bitcoin and Cryptocurrencies?

Bitcoin is a cryptocurrency born in 2009 by Satoshi Nakamoto, the fictitious name of a developer whose identity is still unknown. Cryptocurrency is, in simple terms, a digital currency used to make payments online in many places on the internet.

Still, the difference between a traditional currency and a cryptocurrency is that it is encrypted to be secure, given its digital nature. As for Bitcoin, it is the most famous and valuable Cryptocurrency and the first to be born and appreciated in recent years for its countless advantages over traditional government currencies such as the EURO.

Moreover, in the wake of Bitcoin, hundreds of new alternative cryptocurrencies were born because some aspects of Bitcoin could be improved.

Real-life Use Cases

When it comes to e-commerce, cryptocurrencies allow for purchases on Microsoft Store, Overstock, Shopify, Rakuten, and other online stores. By the same token, the gambling sector has also adopted blockchain-powered payments, with platforms like Bodog introducing cryptocurrency-friendly casino online games. These games can be accessed via Bitcoin, Bitcoin Cash, Litecoin, and Ethereum deposits, ensuring that your transactions are secure and instant.

Given that, let’s see which the best cryptocurrencies are to invest in 2023.

The best cryptocurrencies to invest in

There are some important and simple tips for those investing in cryptocurrencies for the first time.

This type of market has vast up-and-down swings, as demonstrated last year and these first few months of 2023, so I suggest first that you only invest the amount of money you are willing to lose without causing any problems.

Second, even more, it is important to be cool-headed, which is essential not to get anxious or panic and sell immediately at the first drop, as cryptocurrencies undergo incredible rises and fall whenever positive or negative news is released. Following these two rules will only be a matter of luck and timing to decide whether it is a good or bad investment.

The third and last advice is to rely on the safest exchange services, such as Coinbase, as over time, there have been quite a few problems with unreliable exchange services.

After these previews, we can finally move on to the cryptocurrencies we recommend you invest in 2023.

Ethereum (ETH)

Ethereum is currently the best Cryptocurrency to invest in, followed by an excellent alternative such as Litecoin. It is ideal for a long-term investment with stability superior to many other cryptocurrencies.

Ethereum is a decentralized computing platform that uses ETH (also called Ether) for payment of transaction costs (also called “gas”). In addition, developers can use Ethereum to run decentralized applications (dApps) and issue new cryptocurrencies, known as Ethereum tokens.

Polygon (MATIC)

Polygon, formerly called Matic Network, is an Ethereum token that powers the Polygon network, an Ethereum scaling solution.

This Cryptocurrency is also very promising but more suitable for short-term investments. Polygon aims to provide faster and more convenient transactions on Ethereum using blockchains that operate in parallel with the main Ethereum blockchain.

Users can deposit Ethereum tokens on a Polygon smart contract, use them within Polygon, and then withdraw and return them to the main Ethereum blockchain. In addition, you can use the MATIC token to pay transaction fees and to participate in proof-of-stake consensus.

Aave (AAVE)

Aave is a decentralized finance protocol that allows people to grant and borrow Cryptocurrency. Lenders earn interest by depositing digital resources into specially created liquidity pools. Using this liquidity, borrowers can use their Cryptocurrency as collateral to take out a flash loan.

Aave (meaning “ghost” in Finnish) was initially known as ETHLend when it launched in November 2017.

Still, the rebranding of Aave occurred in September 2018 (this helps explain why the ticker of this token is so different from its name!).

AAVE provides owners with discounted rates on the platform and serves as a governance token, giving owners a voice in the future development of the protocol.

Bitcoin

It is currently the most valuable Cryptocurrency, but in this recent period, it is beginning to be overshadowed by Ethereum.

Bitcoin, however, has so much weight in the cryptocurrency world that its performance influences all other cryptocurrencies, so it is recommended as an investment, as it is one of the pillars of the electronic future of currencies.

We are talking about the leading cryptocurrency traded on an essential cryptocurrency buying and selling platform, Coinbase.

Secondly, because it is the one that fluctuates the least, it is not ideal for those who want to speculate on constant currency fluctuations, but at least safer.

Finally, thanks to the mere fact that influential people like Elon Musk name it, this Cryptocurrency undergoes not inconsiderable value pumps, making it increasingly attractive.

More On: Cryptocurrency

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