These cryptocurrencies have the innovation, competitive advantages, and originality needed to succeed in a crowded crypto market.
2022 had been a struggling year for cryptocurrencies in general, with the crypto markets losing over a trillion dollars in value. The massive decline of 2022 also led to the collapse of various crypto startups and exchanges. Some Nigerian startups were also affected.
Although these crypto losses and depreciation are depressing, it should be seen as big opportunities for the smart investor that gets to buy exciting cryptos at very cheap prices. 2023 may be another year of the crypto boom.
In this article, we will show you 5 cryptocurrencies that stand out as having the potential to triple your investment in 2023. Let’s dive in.
Avalanche is one crypto that has grown to be seen as a perfect rival to Ethereum. One major advantage that this crypto has is the speed of its network. The avalanche network is capable of processing transactions at a speed far more than greater than that of bitcoin or Ethereum. The avalanche blockchain offers developers of decentralized applications a near perfect network that allows them build DApps at considerably lower costs.
As at the time of producing this video, 1 AVAX on coinmarketcap is $11.39.
Algorand is another exciting cryptocurrency that is somehow similar to Avalanche in its characteristics, but has its own unique advantage. Algorand can handle up to 6000 transactions per second, validating them almost instantaneously. Algorand maintains a pure proof of stake blockchain which ensure security and decentralization of the network.
2023 may just be the year that would see more adoption of this crypto and lead to a massive increase in its value. But as at the time of this video production, 1 ALGO is trading for $0.18 on coingecko.
An interesting meme coin with a loyal and enthusiastic community of holders. Dogecoin could have an unbelievable rise in value at any point during the year. It is a crypto coin worth holding and is bound to pump massively on the verge of any positive news in the crypto space.
With Elon Musk open endorsement of the coin in late 2021, many Dogecoin users believe there is a future for the cryptocurrency going forward.
Presently, one dogecoin is around $0.07 on coinmarketcap.
IOTA is one amazing cryptocurrency that is built for the future. This coin has the potential to double or triple its value within the shortest possible time. IOTA coin is built for the internet of things, by facilitating payments between IOT devices. One of its competitive advantages is that it does not use blockchain technology to process transactions, but rather uses a decentralized acyclic graph to validate transactions in its ledger.
Since IOTA is not a blockchain, there are no mining to be done; hence no transactions fees. This is one exciting feature that makes the IOTA unique in its own way.
It is left to be seen how IOTA would fare in 2023, but this is one coin that worth having in your portfolio because of its uniqueness and originality.
IOTA price is currently $0.177 on crypto.com
This is the final coin on our list of crypto coins to watch out for in 2023. Stellar Lumens mission is to facilitate cross border payments in seconds at next to nothing transaction fees. Stellar can handle far more transactions per second than bitcoin or Ethereum with the network averaging at 1000 TPS.
Stellar’s focus is on individuals and institutions in developing countries; by solving the technological challenges they face in making international money transfers. Thereby making worldwide remittances as simple as possible.
Stellar’s price is currently $0.074 on Binance. Buying some XLM tokens at this giveaway price could just be one of the best decisions you may take in 2023.