If I talk about the whole crypto market, it has been on a downfall since December 2021. However, that does not mean you stop investing in cryptocurrency because if you want to make big bucks from crypto, you’ve got to take risks and be optimistic.
During this time, many cryptocurrencies have proved to be good investments for those who managed to hold on to their coins and sell during upswings. However, since the whole market is on a ground level compared to the soaring heights it was enjoying many moons ago, I’d say this is the best time to invest in crypto because it’s all available at a discount!
Having done some research, I’m going to tell you about the top 10 altcoins you should buy right now to get better returns in 2023 when the market booms back!
Let’s dig in.
Ethereum (ETH)
Ethereum has been in the spotlight since the news of its merging. And despite the coin falling 58% in 2022, the merge could result in Ethereum’s price reaching new heights by 2023.
Apart from this, transactions involving Ethereum will now be processed via staking, in which Ethereum holders can stake a portion of their holdings and secure a network to earn a share of the transaction fee. And most importantly, after the merge, Ethereum will be faster and more scalable to boot. These traits would be incredibly useful for businesses and developers, eventually increasing the coin’s value in the long run.
Decentraland (MANA)
Decentraland (MANA) is a platform based on immersive virtual reality backed by the Ethereum blockchain. The platform combines gaming, entertainment, and e-commerce, which is super appealing to businesses and individuals. Decentraland is also regarded as the front-runner in the metaverse coins and has attracted some big names within the metaverse such as Coca-Cola, Samsung, and JP Morgan Chase.
Users can play games, and create their own art galleries and other businesses as well. Apart from that, users also get a chance to charge other users who visit their venue, for example, an entry ticket but in the metaverse. MANA-USD is the cryptocurrency that powers decentraland. Using the token, users can buy LAND, which is basically virtual space, and the platform allows users to buy it via Non-Fungible Tokens (NFTs). But remember, patience is the name of the game because if you’re looking to invest in the metaverse, you can’t expect returns before 2023 or even later, perhaps.
Ripple (XRP)
Admittedly, Ripple doesn’t make many headlines anymore. However, it is one cryptocurrency that is highly preferred by financial institutions and multinational payment providers due to its fast and energy-efficient performance.
It has been reported that Western Union and MoneyGram are currently testing XRP for their services. Not only this, but the World Economic Forum recently approved Ripple as their partner. Despite the lawsuit between Ripple and US Securities and Exchange Commission (SEC), the coin has managed to keep its value. However, the legal case does prevent the trading of Ripple on US-based exchanges. As cryptocurrency fever spreads over the world, users would require quick and efficient transactions, and for that, XRP is one of the best crypto services. XRP is well placed to triple its value by 2023, just like it had done in previous crypto market booms.
ApeCoin
Many crypto investors think ApeCoin will be one of the hottest crypto coins in 2023. The coin is also linked to one of the best NFT projects, “Bored Ape Yacht Club.” Thanks to its cult status, ApeCoin’s price has surged by 270% after it was listed.
ApeCoin could be the best altcoin to buy because of its price potential, and it has been predicted that prices will skyrocket once BAYC launches “Otherside.” For those of you who don’t know what the Otherside is, it’s a metaverse project that is being developed by BAYC. The coin will be used for purchases in the metaverse.
THETA
If you’ve been in the crypto market for a long time, you’d know, but for those who don’t, THETA aims to revolutionize the whole video streaming idea. Not only this, but the project aims to decentralize it rather than centralize it.
In simple terms, content creators will be paid for sharing their videos in (TFUEL) which is one of THETA’s native tokens. The network uses the THETA token for governance, but it can also be used for staking, which eventually exchanges into TFUEL. Apart from all of this, Theta has attracted big companies into their projects, such as Sony and Samsung.
FTX Token
If you’re already in the crypto world, you must know that FTX has emerged as one of the leading crypto exchanges, but that’s not all. Just like all other crypto exchanges have their own native currency, so does FTX, which ensures an enhanced user experience.
The FTX token is a good investment not because of its relatively low price but because users also get the advantage of reduced trading fees and staking within the FTX ecosystem. And talking about facts and figures, the token reached an all-time high of $85 dollars, although the price is really low at the moment. These are one of the few reasons that highlight the coin’s potential.
Solana (SOL)
Solana is referred to as one of those top coins not only because of its market capitalization but also because of its efficient blockchain system. Crypto gurus have predicted that one day it might be possible that Solana takes over Ethereum’s blockchain system. Does it make it a good investment?
Because in the recent crypto boom, the coin scaled new heights and reached a whopping $260. So this might be a good time to invest your savings into Solana because 2023 might be the turning point of cryptocurrency, and it’s possible we will see another gain in the market.
The Sandbox
Next up on my list is The Sandbox, and you can consider buying right now to enjoy huge gains in 2023, but why is that? Well, mainly because the project focuses on its metaverse, meaning players from all over the world can come and play, apart from that, users can also customize their own avatars, and once you’re done with that simply play games to earn the in-game currency SAND.
Ever dreamed of investing in real estate? Well, now is the chance because, with The Sandbox, you can purchase land in their metaverse using your SAND tokens. Build your own island or a high-rise building and then sell it on the NFT marketplace. A Sandbox user recently sold 100 virtual islands on the NFT marketplace and earned around $4.2 million in cryptocurrency. The Sandbox hit an all-time high of $8.40 in one year. I would recommend buying SAND because it has the potential to reach new heights even though the token has decreased in value.
Cosmos (Atom)
Communication has always been a problem, and it exists in industries, marketplaces, and even the crypto market. There are times when blockchain systems face difficulties in establishing networks, when they may have to share their data with other blockchain systems. However, a fast-growing market needs quick solutions, and with the growth of Cosmos and Atom, this hurdle has been passed.
With the help of Cosmos, communication between different blockchain systems has become easy, but to use this innovative technology, competing for blockchain systems needs to have ATOM. This is what makes ATOM one the best-performing altcoins. Atom reached an all-time high of $44 in 2022, but since then, the coin has depreciated in value. You can currently buy ATOM for under $30.
Algorand (ALGO)
Algorand has proven itself to be one of the strongest competitors to the Ethereum blockchain. You must be wondering how? Well, many companies use it because of its efficient blockchain system, and the coin made headlines when El Salvador said they would establish their blockchain infrastructure using Algorand.
One of ALGO’s biggest advantages is its Proof-Of-Stake algorithm, because of which the network ensures a high level of security. The coin reached an all-time high in June 2019 when it was trading for $4.77 dollars. Algorand is currently ranked at number 9 in the Proof-Of-Stake coins and has a high liquidity rate based on its market cap.
Conclusion
So this was my list for top 10 altcoins to buy for better returns in 2023. However, let me remind you that this list is completely based on current facts and figures, and market capitalizations, so don’t just rush into investing your money after reading this list; make sure to do your own research just so you can get a clear picture of the altcoin you choose to invest in.
You can also read our article on top 6 cryptocurrencies to buy in 2022.
