Best Crypto to Buy Now – Top 5 cryptocurrencies to invest in 2023

28th July 2023

Top 5 cryptocurrencies to invest in 2023

Working in the crypto market demands awareness of the considerable risks involved, surpassing those found in traditional financial markets. The volatility is notably high, and there’s always the looming possibility of losing your entire investment due to sudden downturns.

In the early stages of the industry’s formation, when the crypto market had not reached its current saturation, newly launched cryptocurrencies rarely experienced astronomical growth, with hundreds or thousands of percentage points increase being an exception, like solana price, rather than the norm.

Those participants who were not afraid of the new technology and ventured into the market at the very beginning multiplied their capitals. The good news is that it is possible to find the best crypto to invest in 2023. The main thing is to regularly review, analyze information and refer to trusted sources. In addition, the choice of a reliable platform to buy crypto online. On Wiex, users can choose the best crypto coin to buy right now. Extensive work experience and favorable conditions.

Criteria for Choosing Cryptocurrencies

Before you start working with the crypt, it is important to select the right financial asset. The signs of promising best cryptocurrency to invest today are.

  • The number of exchanges where the crypt is traded. The most promising cryptocurrencies are necessarily traded on well-known exchange exchanges. The more resources to offer the crypt you need as an affordable financial asset, the better. It’s bad when you can only buy and sell tokens on one exchange.
  • Trading volume during one session. The more trading operations are performed on a particular asset, the greater its liquidity. That is, you can sell or buy any number of coins at any time at the current market rate. In addition, large volumes of transactions on promising cryptocurrencies indicate the potential for growth in their value in the future.
  • The number of coins in circulation and the potential issue. Experts say that the presence of more than 10 million tokens in circulation indicates the possibility of earning on cryptocurrency due to the high prospect of its growth in the future. If there are a lot of tokens and a long-term issue is planned, it is not necessary to expect a sharp increase in the exchange rate. When the number of coins issued is limited, and the process of their extraction is complicated, the rate of “crypts” usually increases.
  • The current rate of the cryptocurrency. At first glance, it seems that investing in a cryptocurrency with a high exchange rate relative to fiat currency units is the most profitable. But in fact, the high price limits the potential for further growth. In addition, there is a risk of a drop in the value of the coin as a result of a course correction. The general rule is as follows: for long–term investment, it is better to choose expensive coins, for short-term trading – cheap
  • The volatility of the cryptocurrency exchange rate. We are talking about the phenomenon of fluctuations in the exchange rate of an asset depending on external circumstances and various economic factors. High volatility implies significant fluctuations in the exchange rate, which gives great opportunities for earning on cryptocurrency through trading. If long-term investment is assumed, volatility is not the determining criterion when choosing.
  • The ratio of the risk of investment loss and potential profit. It is defined as the ratio of the minimum price of a cryptocurrency asset and the growth over the past time period to the current price. For trading, it is desirable that the possible profit is at least 5 times higher than the potential losses.
  • Social activity. Promising are those cryptocurrencies that are widely discussed on specialized websites, forums, and chat rooms.
  • The utility of the coin. The crypt whose platform has more advantages for users will be more promising.
  • Coin news. If the crypt is often talked about in the news, this is a sure sign of prospects for further growth.

Based on these criteria, let’s figure out what crypto has the most potential.

Top 5 Cryptocurrencies to Invest

Now that you know the best cryptocurrency to buy today, choose what is right for you to make a profit.

List of top 5 cryptocurrencies to invest:

  1. Bitcoin (BTC). It has the highest capitalization and the largest market share among all cryptocurrencies. Bitcoin continues to attract the attention of both institutional and private investors. The advantages of investing in bitcoin include its limited supply, built-in blockchain security and high liquidity.
  2. Ethereum (ETH). It is a platform for launching smart contracts and decentralized applications. Ethereum is actively used in the field of decentralized finance (DeFi) and is gaining popularity as an investment asset. Ethereum’s growth prospects are linked to its technological capabilities and growing interest in decentralized applications.
  3. Binance Coin (BNB). BNB has several advantages, including the ability to use it to pay trading commissions on the exchange and participate in projects launched on the Binance platform. The growth potential of the Binance Coin is associated with the growing popularity and liquidity of the Binance exchange.
  4. Cardano (ADA). It is a blockchain platform that aims to provide a secure and sustainable infrastructure for decentralized applications and smart contracts. Cardano’s growth prospects are related to the improvement of the blockchain protocol and the development of an ecosystem of projects on the platform.
  5. Polkadot (DOT). It is an interoperable blockchain platform that allows various blockchains to interact and exchange data. The growth prospects of Polkadot are related to its technological advantages and the potential to improve the scalability of blockchain networks.

So, in order to be able to multiply your funds and at least not lose, you need to carefully approach the choice of best coin to invest today. In traditional markets, in addition to business potential, companies have fixed assets, capital, accounts receivable, bank accounts, etc., so the value of hypothetical corporations cannot fall to zero. More precisely, the probability of such an outcome tends to zero. But on the crypto market, a 99.9% drop in the value of one or another cryptocurrency is quite real, one has only to make a mistake with the choice.

The best crypto coin to buy today should solve specific and important tasks for the industry, be useful for the development of the community. It also should have the property of a basic technology, the native token of which can later become a “backup” in the general ecosystem.

The tokenomics of a good project should be well-balanced so that investors can make money on the growth of the project. But the interests of the community are also protected from sharp fluctuations in the exchange rates of cryptocurrencies as a result of the funds of investors and founders.

Top crypto to buy has an active development team and serious venture funds in investors.