6 Best Crypto to Buy Now for Best Future Returns in 2023
Despite the volatility of the crypto market, it’s often best to play the long game, wait out the market, and look to invest for the future. So the question is, which is the best crypto to buy to get the best returns down the line? That’s what we’ll try to answer in this blog post by exploring some of the best potential earners for your future.
6 Best crypto to buy now for best future returns in 2023
- Bitcoin (BTC)
- Ethereum (ETH)
- BNB
- Cardano (ADA)
- Polkadot (DOT)
- Bitcoin (BTC
Bitcoin (BTC)
Bitcoin is the original cryptocurrency, created back in 2009, and to this day still holds the number one spot in both market cap and price. It’s also the most well-known cryptocurrency, synonymous with crypto itself. The principal idea behind Bitcoin is to have a financial system where there is no middleman or central authority.
Investors can use it to make purchases online, as well as in some off-line locations. It’s one of the most common buy-and-hold assets in many investment portfolios, and most investors still have at least a bit of it in their portfolios.
Because of its fame, Bitcoin is being adopted all over the world, from Tesla allowing car purchases to Colorado accepting it for tax payments since September 2022. In the last year, despite the crypto winter and the controversies, there was a 7% increase in the number of merchants accepting Bitcoin as payment around the world.
All of this combined has turned Bitcoin into one of the best cryptos to buy even today. It is also often observed that bull runs are spear-headed by Bitcoin, with other assets following. Still, for the crypto market, Bitcoin is not as volatile as many other cryptocurrencies and still shows great potential for long-term holding.
Ethereum (ETH)
Ethereum is the second biggest cryptocurrency in the world. Ethereum can refer to two things, the blockchain platform and its native currency Ethereum (ETH). The blockchain itself is very versatile and has become the go-to for building decentralised apps, also known as dApps.
For instance, dApps can be developed for gaming, finance, and social media, along with a plethora of other purposes. They run on the blockchain, in this case, the Ethereum blockchain, where they are decentralised and free from interference from a single authority.
To improve its scalability, security, and sustainability and to contribute to fewer emissions, Ethereum recently swapped from the proof-of-work protocol to the proof-of-stake protocol. The upgrade referred to as “The Merge,” reduced Ethereum’s energy consumption by ~99.95%, according to their website, while also being the next step in achieving the project’s initial vision.
Its scalability and usefulness with dApps have both contributed to it becoming a very solid investment in the long run. Ethereum has entrenched itself in the crypto sphere, and many big projects, some of which are even on this list, are built on top of Ethereum, thus earning it the second spot on our list of best crypto to buy now.
BNB
BNB was previously known as ‘Binance coin’ and now serves as the native coin of the Binance chain. As its name suggests, the Binance chain is the native blockchain of the biggest exchange out there - Binance.
The asset itself has multiple uses, as Binance Exchange users have the option to use BNB coins to pay for transactions. In doing so, they can enjoy lower transaction fees on the Binance exchange.
In addition, merchants can accept BNB as a form of payment, providing customers with more payment options. BNB is also used in the entertainment industry for various purposes, including purchasing virtual gifts and lottery tickets.
On multiple platforms, BNB can be used to invest in stocks, exchange-traded funds (ETFs), and other assets. Some platforms even allow BNB to be used as collateral for loans. Furthermore, some apps enable users to split expenses and pay friends and family using BNB.
All of its uses, along with its connection to Binance, make BNB an interesting and potentially lucrative investment.
Cardano (ADA)
Cardano is designed to be Ethereum reimagined. It was launched in 2017 and founded as a general-purpose Proof of Stake (PoS) blockchain project. This means that instead of computers using processing power to validate transactions, users can stake their tokens, thus lowering the energy needed for upkeep.
Previous blockchains, such as Bitcoin and Ethereum, are plagued with high transaction fees and low Transactions Per Second (TPS). Cardano is being built from the ground up, trying to actively avoid these issues and be as efficient as possible, along with being much more environmentally friendly as it avoids the PoS mechanism.
The scalability and potential of a more efficient platform are what may make ADA one of the best cryptocurrencies out there and give it much potential to grow in the future.
Polkadot (DOT)
The Polkadot protocol is designed to enable unrelated blockchains to communicate with each other securely so that data and value can flow between them. For example, the Ethereum and Bitcoin blockchains cannot communicate with each other without an intermediary. At the forefront of its design are speed and scalability, and the protocol achieves this by using parallel blockchains, known as parachains, which alleviate the main blockchain by taking care of the majority of the processing demand.
The native token of the Polkadot protocol, and the one we are talking about if we want to invest in Pokladot, is DOT. It has two main uses within the network; firstly, it’s a governance token. As such, holders can stake it and, in return, get periodical rewards of newly issued DOT. The token can also be traded on various exchanges.
The network itself also uses the Proof of Stake consensus mechanism, similar to Ethereum and Cardano, as previously mentioned, making it much more environmentally friendly.
Due to its usefulness and potential for scalability, we can see DOT rise in popularity and value.
Chainlink (LINK)
Some services require off-blockchain data to connect to the blockchain - that’s where Chainlink comes in. It’s a cryptocurrency and technology platform enabling blockchain-based smart contracts with external data. More concretely, it’s a decentralised blockchain-based oracle network – a system of nodes adhering to set protocols. Node operators have to stake their LINK tokens in exchange for rewards.
Chainlink has proved itself by being used for fairly distributing NFTs, facilitating recalibrations of cryptocurrency token supplies, gamifying personal savings, and similar applications. It can also support decentralised data feeds, provide verifiable sources of randomness, and support cross-blockchain interoperability.
As such, because of its many use cases, we can also see LINK as potentially being a good cryptocurrency to hold for some time.
This blog post is for informational purposes only. It should not be seen as investment advice. It is important to do your own research whenever investing, know the risks, and only invest what you can afford to lose.
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