The Top 5 Cryptocurrencies to Invest in in 2023
There are thousands of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether, which can be confusing when you’re just getting started in the world of crypto. To help you get started, here are the top ten cryptocurrencies in terms of market capitalization, or the total value of all coins currently in circulation.
1. Bitcoin (BTC)
Market Capitalization: $846 billion
Bitcoin (BTC) is the original cryptocurrency, created in 2009 by someone using the pseudonym Satoshi Nakamoto. BTC, like most cryptocurrencies, is based on a blockchain, which is a ledger that records transactions across a network of thousands of computers. Bitcoin is kept secure and safe from fraudsters because additions to distributed ledgers must be verified by solving a cryptographic puzzle, a process known as proof of work such as in mexc.
As Bitcoin has grown in popularity, its value has skyrocketed. In May 2016, a Bitcoin could be purchased for around $500. A single Bitcoin cost more than $44,000 on March 1, 2022. That’s a 7,800% increase.
2. Ethereum (ETH)
Over $361 billion in market capitalization
Ethereum, which is both a cryptocurrency and a blockchain platform, is a favourite among programmers due to the potential applications it offers, such as smart contracts that execute automatically when certain conditions are met and non-fungible tokens (NFTs). Ethereum has also seen explosive growth. From April 2016 to the beginning of March 2022, its price increased by more than 27,000%, rising from around $11 to over $3,000.
3. Tethering (USDT)
Over $79 billion in market capitalization
Tether, unlike some other types of cryptocurrency, is a stablecoin, which means it is backed by fiat currencies such as US dollars and the Euro and theoretically maintains a value equal to one of those denominations. In theory, this means Tether’s value should be more consistent than other cryptocurrencies, and it’s preferred by investors who are wary of other coins’ extreme volatility.
4. Binance Coin (BNB)
Over $68 billion in market capitalization
The Binance Coin is a type of cryptocurrency that can be used to trade and pay fees on Binance, one of the world’s largest cryptocurrency exchanges.
Binance Coin has grown beyond simply facilitating trades on Binance’s exchange platform since its inception in 2017. It is now possible to use it for trading, payment processing, and even booking travel arrangements. It can also be exchanged or traded for other cryptocurrencies such as Ethereum or Bitcoin naming one of the newest tokens is Poocoin.
In 2017, the price of BNB was only $0.10. Its price had risen to around $413 by the beginning of March 2022, a gain of approximately 410,000%.
5. XRP (XRP)
Over $37 billion in market capitalization
XRP, which was founded by some of the same people as Ripple, a digital technology and payment processing company, can be used on that network to facilitate exchanges of various currency types, including fiat currencies and other major cryptocurrencies.
The price of XRP at the start of 2017 was $0.006. Its price reached $0.80 in March 2022, representing a gain of more than 12,600%.
Binocs is a platform where the value of virtual currencies is completely determined by supply and demand, as opposed to government-guaranteed money, which can result in significant gains or losses for investors. Furthermore, cryptocurrency investments are far less frequently protected by government oversight when compared to traditional financial instruments such as stocks, bonds, and mutual funds. It is an excellent platform for managing crypto taxes and tracking coins. Visit the website right away.