Cryptocurrencies as a form of digital asset became quite a changing point in the finance industry. Their main advantage is decentralized systems which means that as a currency crypto is practically independent of any government regulations. There is also no need for third-party intermediaries which makes transactions much faster, easier and more anonymous. However, quite a disadvantage is the price volatility of cryptocurrencies – this year, for example, the crypto market went through some difficult times. But despite this more and more people invest in crypto, making tokens and coins grow faster. In this article we’ll focus on some of the less known, but more affordable cryptocurrencies that will get into the spotlight in the coming 2023.
Ethereum has definitely been the second-largest crypto after the most famous one – Bitcoin. It is considered to have a huge growth potential, even though it’s been on the market for years now. Another fact to back up Ethereum as a possible future crypto number one is that it allowed creating decentralized apps by providing smart contracts. This token is also widely used for sports betting – you can learn more on sports betting bitcoins website. The major update for Ethereum blockchain platform was it becoming a proof of stake system. This change significantly increased the currency’s value and began attracting new investors.
Among the lending protocols the most popular is Aave. Being incredibly user-friendly, it allows users to lend and borrow cryptocurrencies. You also have an opportunity of earning passive income by receiving interest payments for lending if you deposit in Aave. Another great feature is FlashLoans – sure, you’ll have to repay them within the same transaction, but they have no collateral. All these advantages make Aave extremely popular with borrowers and experts are seriously considering it to get in the big league very soon.
Moving to the coins known for their privacy, the next on out list is Monero. It’s special privacy-enhancing technology makes the transactions completely untraceable and anonymous. And although Monero has been around for a long time now, its’ popularity is just beginning to rise properly. The main reason for that is growing level of crypto regulations around the world. Knowing that Monero fully discloses all the information about receipt, transaction amount and sender identity, many investors started turning to this option and that makes Monero succeed in the crypto world.
XRP’s main purpose was to facilitate international transactions. Also known as Ripple’s native cryptocurrency, it operates blockchain for fast, but inexpensive transactions. XRP is mostly used by financial institutions as a mean to secure their trades. This coin had its’ ups and downs: after being involved in a lawsuit in 2020 it almost disappeared from the exchanges. Despite that, lots of people still think Ripple has a chance to redeem itself once the legal battle is over.
Should You Invest In These Cryptos?
Investing in the unknown is always extremely risky. Even the expert investors can’t predict which cryptocurrency might go up next. All the coins we talked about here definitely have their potential, but it’s better for you to do some additional research and check out the smaller cryptocurrencies. Many of them will almost definitely grow in the future and you’ll have a chance to get your profit just a bit later.
Cryptocurrency was and still remains a highly speculative market. We covered some main information about soon-to-be most popular coins here, but the odds might still change. Remember – the best investment tips come from years of practice. Do your research, start small and the world of cryptocurrencies will open its possibilities to you soon enough.