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The cryptocurrency market is prone to volatility, making it difficult to predict the future. However, experts predict that the year 2023 will be a turning point for those who invested in cryptocurrencies. For those who are planning to invest in cryptocurrencies, now is the best time before it starts to rise again. Most of the projects are trading below the pre-pandemic price, which promises a healthy improvement in the purchase of most cryptocurrencies.
It's hard to make suitable investments in a bear market. In particular, the cryptocurrency market is known to be volatile and volatile, which makes investment decisions more difficult. Perhaps a more measured approach and allocating more of your portfolio to more popular names in the crypto space should help mitigate the risk. Additionally, it would be wise to allocate a small portion of your investment portfolio to new altcoins with strong fire use cases. Having said that, let's take a look at the top seven cryptocurrencies to buy now.
Bitcoin (BTC-USD)
- Bitcoin (BTC-USD) is the first and most popular cryptocurrency project that has revolutionized the industry since its launch in 2009. Its strong liquidity and popularity have become the gold standard against all other cryptocurrencies. Therefore, the price of other tokens is often expressed in BTC and its fiat equivalent.
- If you want to eliminate risk, consider buying bitcoin. Although it may not be a risk-taking profit for banks, its popularity and undeniable liquidity make it the most sought-after digital asset. It is in a great position with the price down more than 64% from its 2021 high and now is a good time to buy it for a long-term profit.
Ethereum (ETH-USD)
Ethereum (ETH-USD) stands out from other blockchains with its list of use cases, making it the best crypto platform in terms of practical use. With the second most secure and industry-leading decentralized platform, Ethereum has been a huge success in the crypto space. Although it may not have exciting speeds, it provides it with the highest security protocols.
The security of the Ethereum platform is why most developers choose its amazing ecosystem. Major crypto platforms, including financial and NFT, rely on the platform's ability to continue to increase demand. With constant promotion and focus on the tool, ETH can generate huge returns in the long run.
Solana (SOL-USD)
Solana (SOL-USD) is one of the most popular cryptocurrency projects in recent years. Since then, it has gained momentum and some are calling it one of the famous Ethereum killers due to its incredible speed, strong scalability, and unparalleled efficiency.
In particular, the Non-Fungible Token (NFT) market has witnessed significant interaction and adoption of Solana as users realize the potential impact of their investments. From extremely low transaction fees of a fraction of a penny to high processing speeds of up to 3400 transactions per second compared to Ethereum 15, it's no wonder if it can bring a lot of profit in the future.
Decentraland (MANA-USD)
Decentraland (MANA-USD) is an ambitious project that offers a great opportunity for investors looking to take a bold step into the metaverse. By purchasing MANA tokens, users can buy and own land in the Decentraland world and create their own experience from scratch. This new virtual environment offers a wide range of possibilities, from auction houses to cooperative games, art galleries, and even virtual stores with digital stores.
Using dedicated NFTs to incentivize users is a very innovative approach. Industry experts have called it one of the most promising projects in its field, a testament to its well-thought-out structure and long-term growth potential. The commitment of users around the world has not gone unnoticed and will likely continue as the platform grows over time. Considering the expected CAGR of 37.5% for the metaverse market until 2030, investing in the Decentral token and the MANA token promises potential returns as participation increases. in the field.
Neo (NEO-USD)
Neo (NEO-USD) is an exciting prospect for crypto investors, and its roots only add to its appeal. NEO was born from Anchars, considered the first public blockchain in China and said to be the "Chinese Ethereum Market". His fame and power opened up many lucrative opportunities as he continued to build trust across borders and technological boundaries.
Despite China's ban on cryptocurrency mining and trading in 2021, Neo is still thriving thanks to the development of innovative new applications from Chinese developers. This makes Neo an attractive prospect – if China decides to change its stance on digital currency, Neo's already impressive value could rise, providing a great opportunity for savvy investors.
Polygon (MATIC-USD)
Polygon (MATIC-USD) is an important and proven project for the Ethereum blockchain. It acts as a layer 2 scaling solution, connecting Ethereum to other blockchains and solving its own scalability problem. Polygon has become a good choice for developers who want to implement smart contracts with a powerful scaling solution that allows for rapid growth in independent applications.
Since Ethereum is the first blockchain platform, it is not surprising that many projects are trying to solve the problem of scalability. Polygon stands out from the rest by offering an almost doable solution for growing the Ethereum ecosystem. Also, its flow of 65,000 transactions per second with a side chain makes it a long-term project for developers and users.
Cardano (ADA-USD)
Cardano (ADA-USD) has brought a new level of sustainability to the energy sector by making the blockchain accessible to people around the world through the Proof of Stake protocol. Major players in the cryptocurrency world have taken note, with Ethereum the latest to switch to the Cardano-led protocol.
- Cardano's impressive development activities are highly commendable and the numbers speak for themselves. Cardano is 2,400 times more powerful than its closest competitor and continues to grow exponentially. This amazing development activity is due to the comprehensive development system and highly skilled team. Therefore, Cardano's reputation as a leader in modern blockchain technology is not surprising.
- Disclosure: At the time of publication, Muslim Farouk has long-term positions in Ethereum and Solana. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com's posting guidelines.
- Faruk Muslim is an ambitious investor and an optimist at heart. He is a frequent gambler and technology enthusiast with special skills in analyzing technology stocks. Muslim holds a Bachelor of Science in Applied Accounting from Oxford Brookes University.