For more than ten years, cryptocurrencies have been part of everyday life on the net. Every year, dozens or even hundreds of new crypto currencies are born. This has contributed to the saturation of the cryptocurrency market on the stock markets. Given the large number of these cryptoassets, it is difficult for novices wishing to invest in cryptocurrencies to choose the currency in which to invest. In this article, you will discover some promising cryptocurrencies in which you can invest in 2023.
A cryptocurrency: what is it?
A cryptocurrency also called “cybercurrency” or “cryptographic currency” is an encrypted virtual currency that can be used online. Unlike traditional fiat currencies, cryptocurrencies are totally autonomous and free from the control and control of any central authority. Their emissions are made through mining, which consists of combining the power of many computers to work the blocks that make up their blockchains. For each mined block, the blockchain redistributes units of the currency to miners. The number of units each miner receives depends on the size and programming of the blockchain. It should be noted that encrypted virtual currencies work on the basis of the peer-to-peer system. This makes them very easy to use and untraceable.
But it is also possible to buy cryptocurrencies from those who already have them. And this because each cryptocurrency has an estimate against fiat currencies. For example, you can buy the cryptographic currency of your choice or sell it on the online trading platform immediate connect.
What are the different categories of cryptocurrencies that exist?
There are four categories of cryptocurrencies. These include, among others:
Bitcoin is the first cryptocurrency to have emerged. Created in 2008, this encrypted virtual currency remains the most valued crypto currency to this day. Most of the cryptocurrencies created after Bitcoin were inspired by him and operate on models similar to his.
Alcoins are alternative cryptocurrencies to Bitcoin. These all emerged after the latter and operate on similar models to that of Bitcoin. However, some alcoins outperform Bitcoin. Ether, for example, in seven years of existence, has distinguished itself as one of the best cryptocurrencies in the world. It has also become the most used cryptocurrency in transactions in the world, ahead of Bitcoin. This earned him the qualifier of the “dolphin of Bitcoin”. It is also considered to be the direct competitor of Bitcoin.
Stablecoins are cryptocurrencies that have a fixed value against fiat currencies. Unlike Bitcoin and alcoins which are very volatile, because, having no guarantee against a given fiat currency, stablecoins are like fiat currencies. You will find some in their ranks whose values are fixed in relation to the dollar, the euro or the Chinese yuan.
Memecoins are a family of cryptocurrencies based on memes, jokes, caricatures and other influential messages on the internet. These do not have real projects like the Bitcoin and alcoins white paper in the background. They can go up in value after a joke or a buzz as they can also go down in value.
Investing in cryptocurrencies in 2023: which currencies to bet on?
Investing in cryptocurrencies requires market research. Indeed, not all cryptocurrencies available on the internet are reliable. You should therefore before you start defining the type of investment you want to make. If, for example, you want to make a long-term investment, you can bet on cryptocurrenciesemerging. But one way or another, you can opt for:
- Bitcoin Cash;
- the Tron;
- Binance Coin;
- the Cardano.
This list of cryptocurrencies on which you can invest is not exhaustive.
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On which cryptocurrencies to invest in 2023? –
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