Top 10 Best Cryptocurrencies Of 2023
Which crypto to Invest in 2023?
To help you get your bearings, these are the top 10 cryptocurrencies in 2023 based on their market capitalization or the total value of all the coins currently in circulation to buy this year.
1. Bitcoin (BTC)
As the harbinger of cryptocurrencies, Bitcoin is still the currency that people generally refer to when talking about digital currency. Its mysterious creator – supposedly Satoshi Nakamoto – debuted the coin in 2009 and has been on a rollercoaster ride ever since. However, it wasn’t until 2017 that cryptocurrency entered the popular consciousness.
2. Ethereum (ETH)
Ethereum – the name of the cryptocurrency platform – is the second name you most likely recognize in the cryptocurrency space. The system allows you to use ETH (currency) to perform a number of functions, but the smart contract aspect of Ethereum helps make it a very popular cryptocurrency.
3. Tether (USDT)
Tether’s price is anchored at $1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt.
4. BNB (BNB)
BNB is the cryptocurrency issued by Binance, among the largest crypto exchanges in the world. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services.
5. USD Coin (USDC)
Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that it’s backed by fully reserved assets or those with “equivalent fair value” and those assets are held in accounts with regulated U.S. institutions.
6. Binance USD (BUSD)
Binance USD is a dollar-backed stablecoin from top crypto exchange Binance in partnership with Paxos. BUSD was launched in 2019 and is regulated by the New York Department of Financial Services. BUSD runs on top of the Ethereum blockchain.
7. XRP (XRP)
Formerly known as Ripple and created in 2012, XRP offers a way to pay in many different real-world currencies. Ripple can be useful in cross-border transactions and uses a trust-less mechanism to facilitate payments.
8. Dogecoin (DOGE)
Originally created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money.
9. Cardano (ADA)
Cardano is the cryptocurrency platform behind ada, the name of the currency. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.
10. Polygon (MATIC)
Polygon is a cryptocurrency that focuses on being accessible to those creating digital apps and scales up the Ethereum cryptocurrency. It was previously known as Matic and was formed in 2017, though switched its name to Polygon in 2021.