Are you wondering which crypto to buy today for long-term investment? After reading this, you’ll discover five of the best cryptocurrencies to invest in today. But before we dive straight into the top 5 cryptocurrencies to invest in 2023, let’s look more closely at the meaning of cryptocurrencies.
In a broad sense, cryptocurrency is digital or virtual money made in the form of coins or tokens. Even though cryptocurrency pioneers and other project makers have brought some crypto ideas into the real world through credit cards and other projects, the vast majority are still only digital.
Almost all cryptocurrencies are made to be free from government control and manipulation. However, this fundamental market aspect has been intensely scrutinized as cryptocurrencies have become more popular. But this has not stopped people from making fortunes from crypto investments.
Top 5 Cryptocurrencies to Invest In
It’s challenging to develop a list of the top 5 cryptocurrencies to invest in in 2023. This post will help you answer your pressing question of which crypto to buy today for long-term investment and make a proper investment decision.
Our analysts looked at the market capitalization, history, adoption, use cases, etc., and finally came up with a list of must-buys and the top 5 cryptocurrencies to invest in in 2023.
It includes well-known coins, tremendous long-term investments, and way undervalued currencies. They also give you a few tokens to buy ahead of the next bullish trend. However, Bitcoin, Ethereum, and Binance Coin (BNB) have been omitted from our list of the top five cryptocurrencies to invest in 2023. And we’ll explain why briefly after our list of the best cheap cryptocurrencies to buy now for 2023.
Top 5 Crypto to Invest In 2023
Polygon (MATIC)
- Market Cap: Over 7.457B
Matic is our first choice on the list of the top 5 cryptocurrencies to invest in. Polygon was made by a team of developers who made significant changes to the Ethereum public blockchain. CoinMarketCap says that Polygon is made for scaling Ethereum and strengthening its infrastructure. As a “layer 2” solution, it means making Ethereum into a system with multiple chains, speeding up transactions and verifications.
Binance and Coinbase, which are both cryptocurrency exchanges, have backed Polygon. Its “token,” called “MATIC,” is used for online payments, transaction fees, and as a currency for settlement.
Polygon hosts more than 37,000 decentralized applications from companies like Meta and Stripe. That is about a 400% rise since the start of the year, according to a tweet from the official Polygon Twitter handle. Also, Polygon is a big fan of the tether stablecoin, which might also help the network grow. Another good thing is that it invests in carbon neutrality, sometimes leading to price increases.
For these reasons and more, Matic makes our list of the top 5 cryptocurrencies to invest in 2023. We think the price of MATIC will go up soon. By our projections, by 2030, MATIC will have gone up by as much as 9000% and will be worth more than $60.
Avalanche (AVAX)
- Market Cap: Over $3.89B
Avalanche is a Defi platform. Grand View Research says that the Defi market will grow at an average rate of 42.5% per year between 2022 and 2030, reaching $231.2 billion from $13.6 billion. So, it’s a no-brainer that Avax makes our list of the top 5 cryptocurrencies to invest in 2023.
AVAX is the native currency of the Avalanche blockchain, which also claims to be the world’s fastest platform for smart contracts. Avalanche wants its platform to be like AWS for cryptocurrencies. AWS, which stands for Amazon Web Services, is a subsidiary of Amazon.com Inc. (AMZN), the world’s biggest cloud computing company. Avalanche is one of a kind because it is designed to allow the deployment of many separate or discrete blockchains on its platform. This is something that Ava Labs, the company that made Avalanche, thinks is inevitable.
AVAX started trading in 2020 after an initial coin offering that lasted 24 hours. Over the past year, its price has risen to $146.22 from a low of $13.79. The coin is worth $12.77 as of November 26. This project’s price projection and use case make it inevitable that it will make our list of the top 5 cryptocurrencies to invest in in 2023.
Solana (SOL)
- Market Cap: Over $5.19B
Solana was built to help power decentralized finance (Defi), decentralized applications (DApps), and smart contracts. It uses a unique combination of proof of stake and proof of history to process transactions quickly and securely. The platform is powered by SOL, which is Solana’s native token.
When SOL first came out in 2020, it cost $0.77. By March 1, 2022, it was worth about $101, a gain of almost 13,000%. That growth isn’t stopping anytime soon, so Solana is one of our top 5 cryptocurrencies to invest in 2023.
Polkadot (DOT)
- Market Cap: Over $6.06B
Polkadot (DOT), founded in 2016, is our next top 5 cryptocurrencies to invest in. It is a unique protocol for connecting different blockchains. It also lets parachains, or parallel blockchains, share data and process transactions without risking their security. Developers can use Polkadot security to create their blockchains.
Gavin Wood, the principal founder of Ethereum, made Polkadot. The best thing about DOT is that there is no limit on how much can be made. Instead, a new token is always in circulation.
The price for Polkadot was around $6.30 in May 2020, and it hit its highest price ever when it hit $55.11 in May 2021. Given the team, use case and application, Polkadot makes the cut in our list of the top 5 cryptocurrencies to invest in.
Litecoin (LTC)
- Market Cap: Over $5.604B
Litecoin (LTC) is an open-source blockchain project that started in 2011. It was made by Charlie Lee, who used to work as a software engineer for the cryptocurrency exchange Coinbase. It was among the first cryptocurrencies that copied Bitcoin’s code. Even though it has some similarities to Bitcoin, it is designed to confirm transactions more quickly. It can be used to pay people around the world without going through a third party. People often compare LTC to “silver to bitcoin’s gold.” Isn’t it normal that Litecoin ranks among our top 5 cryptocurrencies to invest in?
There are about 84 million Litecoins in circulation. In May 2021, it hit its all-time high of $413.47, but it has decreased by more than 50% since then. There are more and more businesses that accept Litecoin. It is the 21st largest cryptocurrency in the world, with a value of about $57 per token (current price). And due to its use case, adoption, history, and application, Litecoin is one of our top 5 crypto to invest in in 2023.
Honorable Omissions In The Top 5 Cryptocurrencies To Invest In 2023
Bitcoin (BTC) and Ethereum (ETH) have been left out of our list of the top 5 crypto to invest in because they are apparent blue-chip coins. This makes them well-known and obvious choices. Then BNB was left off the list only because it belongs to a centralized exchange. So, the following are things to note about these three coins.
Bitcoin (BTC)
- Over 317.06B in market capitalization
Bitcoin (BTC) is the first cryptocurrency. It was made in 2009 by someone using the name Satoshi Nakamoto. As Bitcoin has become more well-known, its price has gone through the roof. In May 2016, it cost about $500 to buy a Bitcoin. On March 1, 2022, one bitcoin was worth more than $44,000. That’s about 7,800% growth. It honorably misses our list of the top 5 cryptocurrencies to invest in 2023 because it’s a blue chip and a prominent giant.
Ethereum (ETH)
- Over 146.65B in market capitalization
Ethereum is another project that has been a victim of its success and misses out on our list of the top 5 cryptocurrencies to invest in.
Ethereum is both a cryptocurrency and a blockchain platform. It is a favorite of programmers because of all the ways it can be used, such as with “smart contracts” that run automatically when certain conditions are met and “non-fungible tokens” (NFTs) that can be built on it.
There has been a lot of growth in Ethereum as well. Between April 2016 and March 2022, the Ethereum price has gone from around $11 to more than $3,000. This represents an increase of more than 27,000%.
Binance Coin (BNB):
- Over $50.05B in market capitalization
Binance Coin is a type of cryptocurrency that you can use to transact and pay fees on Binance, one of the world’s biggest crypto exchange platforms. It doesn’t make our list of the top 5 cryptocurrencies to invest in because it is a native coin of the Binance exchange, which can easily be manipulated as a result.
In Conclusion
While the coins on our list of the top 5 cryptocurrencies to invest in have a history, it’s essential to understand that cryptocurrencies are very risky. Investing in digital assets is one way to get rich quickly, but the value of your investments can drop to zero in as little as one day.
Prices tend to go up and down all the time, drastically. When prices go down quickly, don’t sell out of fear. Instead, you should invest a long time in the market to get the greatest return on your money. However, none of this is financial advice.
Remember to consult your financial advisor before investing in crypto, as you can lose 100% of your investment. What do you think of our top 5 cryptocurrencies to invest in?
Cryptocurrencies are highly speculative and volatile investments. You could lose 100% of your capital. Consult your financial advisor. This is not financial advice.
