DeutschWhen the Bitcoin protocol went live on January 3, 2009, it was hard to foresee that there would one day be so many important cryptocurrencies. The very fact that cryptocurrencies have established themselves as a separate asset class is a complete success. There are now more than 20,000 cryptocurrencies, many of which have recorded enormous price gains. However, the majority have sunk into insignificance. Nevertheless, investors are looking for new cryptocurrencies with potential every year. In this article, we give you an overview of five cryptocurrencies that we consider particularly interesting in 2023. Alternatively, you can use the following link to access the largest cryptocurrencies by market capitalization.
Top 5 Cryptos 2023 at a Glance
In the following, we will introduce you to a selection of cryptocurrencies that we consider particularly important. However, this is not a buy recommendation. Of course, there are also many other interesting projects that also have high potential.
The Best Crypto Exchanges!
The best crypto exchanges compared:
- Safety
- User-friendliness
- Fees
- Deposit and withdrawal methods
- Trading offer
Bitcoin
Bitcoin is no longer an insider tip. Nevertheless, the oldest and still largest cryptocurrency continues to offer enormous growth potential. While the cryptocurrency is trading at around $25,000 in February 2023, the all-time high from November 10, 2021 is around $68,300.
So far, Bitcoin is legal tender in El Salvador and the Central African Republic. If other countries follow suit, this could boost Bitcoin in the long term. The limited circulating supply of 21 million Bitcoin helps. The halving in the spring of 2024 is eagerly awaited by many investors. This is because only 3.125 BTC instead of 6.25 BTC are added per block. This could lead to a supply shock and, as in previous years, herald a new cycle. And Bitcoin is also making technical progress. With Bitcoin Ordinals, the Bitcoin network is becoming more than just a pure payment protocol.
In our opinion, Bitcoin will continue to be the undisputed number one cryptocurrency. Here’s how you can buy Bitcoin.
Ethereum
Just as unspectacular as it is still enormously important, Ethereum is one of the most important cryptocurrencies in 2023. With a price of just over $1,600, the second-largest cryptocurrency by market capitalization is also far from its all-time high of $4,900. The Ethereum Merge has been successful. From March, the first payouts of Ethereum Staking yields are to be made possible if the Shanghai Upgrade is successful.
In addition, Ethereum has been the most important smart contract protocol for years and it does not seem as if the competition, despite great progress, could endanger Ethereum’s supremacy. Ethereum benefits, but not only, from the first-mover effect. Here’s how you can buy Ethereum.
The Graph
Big data and AI-based crypto protocols are the big thing this year. But that doesn’t make The Graph a pure hype object. Instead, the crypto protocol is benefiting from the fact that there are more and more decentralized applications. If we imagine dApps as websites in Web 3.0, then The Graph is quasi the Google of the new Internet. It searches dApps and indexes them in a list – just like Google does with websites. Therefore, in the medium to long term, there is likely to be no way around The Graph, as long as no competing crypto protocol succeeds in offering a more efficient solution. Important: The Graph is still completely in its infancy. The all-time high of almost 3 dollars is still from 2021. Meanwhile, the GRT price is only 0.15 US dollars. Nevertheless, the price is already 200 percent above the level at the beginning of the year. To the best crypto exchanges to buy The Graph.
Quant
Quant already made headlines in 2022, when the cryptocurrency QNT temporarily made high profits, while the rest of the crypto market suffered from an enormous price crash. The QNT token is an ERC20 token and therefore has little innovative value as a cryptocurrency itself. But the Quant protocol is all the more exciting, as it focuses on interoperability between blockchains. Currently, it looks as if significantly more than just one blockchain will be used in the future. Then it is very important to have protocols that allow users to use applications between individual blockchains. But Quant also offers a lot of potential for companies and institutions with its proprietary Overledger technology.
Polygon
Do we really need layer-2 solutions like Polygon or can everything run on a layer-1? That is the big question that the crypto market has to answer in the next few years. But the blockchain trilemma between decentralization, scalability and security has still not been solved. Polygon is a second layer on the Ethereum blockchain, which saves users huge amounts of fees.
This makes Polygon one of the most important projects at the current time. The scalability of the Ethereum network will of course be decisive for the long-term development. Polygon has already proven itself in the bear market of 2022 compared to many other cryptocurrencies and has not suffered such high price losses as most other cryptocurrencies.
These Cryptocurrencies are also Interesting in 2023
In addition, we will now introduce you to four other cryptocurrencies that we consider interesting in 2023 or in general.
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- Avalanche: Avalanche is one of the potential “Ethereum killers” alongside other crypto protocols such as Cardano, Solana or Polkadot. In fact, they all have the potential to play an important role in the DeFi and NFT sectors. Avalanche speaks for the fact that the company behind the project, Ava Labs, recently announced a very important partnership with Amazon. This opens new doors and shows above all one thing: the potential for real use cases. Here’s how you can buy Avalanche.
- Cardano: The Cardano ecosystem has been growing rapidly since the Alonzo Update in September 2021. More and more smart contracts on the Cardano blockchain speak for themselves and the updates of the network are now being realized faster than in the past. In contrast to Solana, the Cardano blockchain has also proven to be robust in recent years. Find out where you can buy Cardano.
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- SingularityNet (AGIX): AGIX is a cryptocurrency for an AI-based crypto protocol. It is therefore an AI or AI coin. Since the beginning of the year, the AGIX price has already increased eightfold. SingularityNET is a marketplace where users can offer AI-based services. Anyone who uses these services pays with the AGIX token. This offers a monetization opportunity.
- Chainlink: Even if the Tocenomics of Chainlink are often criticized, the crypto protocol has enormous potential. The more important smart contracts and dApps become, the more important it is to include correct real data. Chainlink wants to solve the so-called oracle problem. We do not expect exponential price increases for the LINK token, but we see the potential in Chainlink to develop positively in the long term.
Above all, we can summarize that smart contract protocols will continue to be the focus. In this context, this also brings cryptocurrencies into play that are intended to facilitate interoperability. Anyone who missed the hype of Metaverse coins in 2021 could take a look around in the area of coins with artificial intelligence. However, you should never fall into FOMO and invest money that you need elsewhere.
How Do I Recognize Cryptocurrencies with Potential?
Recognizing new cryptocurrencies with potential is anything but easy. Because often there is a hype about many crypto projects, which, however, do not deliver sustainably. This can have very different reasons. In addition to fraudulent intentions of the developers, many crypto protocols are also simply overestimated at the beginning. For all cryptocurrencies – especially new coins – you should therefore pay attention to certain characteristics and key figures.
The Team behind the Cryptocurrency
Check whether the people behind the crypto project really exist. See if they have a real LinkedIn profile and if the pictures have been misused. This may sound like a very simple point, but it is very important. Often you can already tell from the team whether it is a serious project or not.
Circulating Supply, Maximum Circulating Supply & Distribution of Coins
You should know how the circulating supply of the coin changes. Because there are quite a few cryptocurrencies that have a very high inflation. This is not necessarily a disadvantage if you can increase your coins by staking. However, if the circulating supply increases rapidly and you do not stake your coins, there is a risk of a high loss.
A cryptocurrency with potential should also be fairly distributed. If about half of the coins are held by the team itself, this is usually a clear warning signal. Because in this way, the developers would not only have a great influence on the development of the price by simply operating pump-and-dump trading, but even a majority decision in the entire network for protocols with proof-of-stake. In the best case, 100 percent of the coins are with the community, but this distribution is unrealistic for altcoins, as the development team retains a certain part for financing.
Does the Cryptocurrency Solve a Real Problem?
This is the real question you should ask yourself when you invest in a (new) cryptocurrency. Because often it is only a copy of other tokens without real added value. With other coins, it may be that the cryptocurrency is already overvalued and the problem to be solved only appeals to a small niche. It is therefore important to deal with the industry in detail and to see whether the project can survive within this industry. In the end, it is still a bet when you invest in a cryptocurrency.
Conclusion: You should Buy these Cryptocurrencies in 2023
Regardless of which cryptocurrencies with potential we have selected for this list, you should never invest in cryptocurrencies based solely on the opinion of others that you do not understand or in which you do not see real potential.
You should therefore only buy cryptocurrencies in 2023 that you are convinced of yourself. Find out about the team behind the project before you invest in a new cryptocurrency. In addition, you should always only invest money that you can accept the loss of.
Otherwise, we see potential in AI Coins above all in 2023. These have been able to record enormous price gains, especially through ChatGPT, which could continue in the coming months.
