Smart crypto investors are always looking for the latest crypto investments to diversify their portfolios further. This includes searching for promising projects meant to disrupt the market with their innovative developments.
At Crypto in Afrika, we’ve listed the top cryptos and projects to invest in this 2023, so you don’t get left behind. Learn more about it in this article.
The top cryptos to invest in 2023
After a close look at the present crypto market, we’ve gathered some of the best cryptos, like Bitcoin and Ethereum, alongside promising new cryptos in 2023. See them on the list below:
- Bitcoin (BTC)
As the first of its kind, Bitcoin is largely regarded as the blueprint that changed the financial landscape in the digital sphere.
Despite the number of altcoins released since Bitcoin’s launch in 2009, Bitcoin remains the most valuable crypto asset in 2023. Time has shown that it has a reliable, long-term store of value. Back in 2010, a single Bitcoin was priced at $0.09. At the time of writing, you can purchase 1 BTC for $23,000.
- Ethereum (ETH)
Coming second to Bitcoin in terms of market cap is Ethereum, which was created to improve upon what Bitcoin started and explore other possibilities with blockchain technology. As such, Ethereum is known to be an innovative peer-to-peer network that serves as a platform for decentralised apps for finance, gaming, web browsing, supply chain management, and more.
- Tether (USDT)
Tether is a stablecoin type of crypto with a value pegged to the US dollar. It was created to combat the volatile nature of cryptos and offer investors protection from huge losses.
As one of the most popular stablecoins, Tether is a great option since it’s supported on multiple blockchains, has great liquidity, and helps reduce transaction costs.
- Meta Masters Guild (MEGAG)
Meta Masters Guild is a Play-to-Earn (P2E) mobile gaming guild in the web3 space. Through its blockchain-based ecosystem, it provides decentralised games that allow players to earn real-world rewards.
At the time of writing, Meta Masters Guild is currently in Stage 6 of presale and has raised over 3 million USDT ahead of launching its first game later in the year. It is predicted to be the future of P2E which is why a lot of investors are taking advantage of buying MEGAG tokens early.
- Fight Out ( FGHT)
Fight out is a move-to-earn web3 project that rewards users for participating in physical activities such as walking, jogging, and running. Users are also expected to have opportunities to join competitions in the Fight Out metaverse to increase their earnings with prizes by levelling up their workout.
- RobotEra (TARO)
The RobotEra project started its presales in November 2022 and is expected to function in its metaverse centred on robots. The aim is for users to explore the limitless cyberspace using their personalised robot avatars and acquire resources, including plots of land in the digital space.
This unique and thrilling concept is sure to be a hit, especially since it offers various play-to-earn features that provide an immersive open-world gaming experience.
- C+Charge (CCHG)
With the surge of Electronic Vehicles (EVs) in recent years, C+Charge incentivises the charging of EVs through carbon credits. The goal is to develop charging stations to encourage EV owners to charge and earn rewards. Despite being in its early stages, the project has already secured partnerships with cHAIN labs, CLS Global, Flowcarbon, and others.
How you can find new cryptos to invest in?
There are various ways to discover new crypto and remain up to date with the latest coin offerings in the industry. Some of the best ways to do this include:
- Check exchange platforms for ICOs
A crypto exchange is one of the main places to purchase cryptos. Though coin availability varies depending on the platform, there are a lot of exchanges with a dedicated page for the latest Initial Coin Offerings (ICO) from different developers.
- Keep up with the news
Many news platforms consistently cover the latest updates in the crypto industry, allowing crypto investors to remain up-to-date with the current market innovations. Some of the most reliable news sources you can check for info are Forbes, BBC, CNN, Yahoo! Finance, and more.
Additionally, you can also check for updates on the latest crypto releases on dedicated crypto platforms, including CoinDesk, Cointelegraph, and The Block. These platforms also have a variety of crypto-centred content that will help you better understand the latest crypto developments in the industry.
- See what’s popular on social media
Checking the latest cryptos trending on social media is another great way to discover the latest coins out there. Staying active on platforms like Twitter and interacting with tweets or following people related to crypto allows Twitter’s algorithms to tailor your feed. This then shows industry-related content to keep you updated with the latest trends.
- Join crypto communities
There are plenty of active communities within the crypto industry to join if you’re looking for like-minded individuals. You can access them by joining crypto groups through social platforms like Discord, Telegram, WhatsApp, and more.
With these social platforms, you’ll gain insight from people who have first-hand knowledge of investing in crypto. This will allow you to apply what they did and see what works best for you.
How to choose the right crypto to invest in
When it comes to evaluating which cryptocurrency to invest in, there are several factors you need to consider. This includes the following:
Find out the market capitalisation
The market capitalisation or market cap refers to a specific crypto’s overall value, size and popularity. Additionally, checking the trading volume and supply metric provide further insight into the supply and demand of the coin you intend to invest in.
Inspect the whitepaper
Whitepapers outline specific crypto’s technical and economic intent, making it an integral part of launching crypto projects. Without a whitepaper, you won’t know the company’s intentions for launching the crypto and what aspects of the coin you’ll look forward to.
Discover the possible uses
Before investing in new crypto, be sure to first understand what type of crypto it is and what it’s used for to avoid investing in coins or tokens you don’t need. There are various cryptocurrency projects, all providing different functions for crypto holders.
The most popular types of crypto coins are used for payment, such as Bitcoin (BTC), Ethereum (ETH), Monero (XMR), and others. Meanwhile, utility tokens function similarly to payment tokens but are used for specific functions within their origin platform. Some of the best Utility tokens include Binance Coin (BNB), Uniswap (UNI), Decentraland (MANA), Polygon (MATIC), and many others.
Things to consider before purchasing new crypto
Investing in crypto can feel like a complex and overwhelming process if you’re new to the industry. To avoid the common crypto trading mistakes that beginners make, be sure to remember the following:
Gain a clear understanding of the crypto and its market
Investing in cryptocurrency requires in-depth knowledge of the market and how it operates. The first step to do this is learning all about crypto, its origin, its purpose, and why people prefer using it.
Learning about crypto tends to feel overwhelming, especially since it fosters a different approach to the financial structure you’re familiar with. However, taking the time to learn will benefit you in the long run. As the crypto market continues to grow, your understanding of it expands too.
Consider its benefits to your investment portfolio
Avid investors know the importance of portfolio diversification since it spreads your investment assets across different industries. One key benefit of doing this is it ensures you don’t lose all your investment if one particular industry crashes.
Before investing in new crypto, it’s important to look at your investment portfolio to see whether it balances out your portfolio. If you’re unsure of how to do this, consider the following aspects regarding the new asset you want to invest in:
- Crypto type
Various types of cryptocurrencies serve different purposes. This includes those used for payment, utility, security, and gaming. The most popular crypto coins are NFTs or Non-fungible Tokens and Stablecoins.
Stablecoins are crypto assets that are pegged to a real-life currency or commodity. As such, they’re considered less volatile than other types of crypto, which makes them a useful medium of exchange. On the other hand, NFTs are tokenised properties of anything in the digital sphere, including art, music, collectables, and even real estate.
- Industry focus
In line with the growth of the crypto market, various industries now incorporate crypto and blockchain technology in how they operate. You can diversify your portfolio by looking into relevant sectors you’re interested in and investing in the cryptos available.
For example, if you’re interested in health care, cryptos such as MediBloc and Dentacoin are some assets worth looking into. Alternatively, you can invest in coins such as ApeCoin and Reef integrated by entertainment companies.
Conduct extensive research
Even with an intensive knowledge of the crypto market, you still need to research the coin you’re interested in. Some areas of focus you need to consider during this process include the crypto’s white paper, market capitalisation, use cases, current demand and supply.
Establish your budget for investment
One important thing you should know about the crypto market is it’s extremely volatile. This is due to the prices determined by supply and demand, government regulations, media attention, and user satisfaction.
As an investor, you need to take a long hard look at your funds to set a budget for your crypto investment. One good rule when doing this is to only set an amount you can afford to lose since there’s no guarantee that the market will remain steady.
Don’t rely solely on trends
Crypto’s popularity has steadily grown since Bitcoin was launched publicly in 2009. At present, the crypto industry remains a large focus across different social channels, which is why you’re likely to encounter trends from time to time.
While it may seem like a good idea to follow the current crypto trends, you must remain critical and use your knowledge of the crypto market before making any investment decisions.
Polish up on crypto regulations
The legality and policy relating to crypto vary per country. Many countries allow crypto transactions as long as you follow the policies. However, some nations still restrict crypto trading due to its decentralised nature and market instability.
Before starting your crypto investment, inspect the regulations in your region to ensure that you’re allowed to engage in crypto transactions. Additionally, you should purchase your crypto assets on exchange platforms with tight security and licenses issued by governing bodies.
Get ahead with your crypto investments in 2023!
The crypto industry continues introducing innovative crypto projects that promise the market’s longevity. As such, you should invest in the right coins to see high returns on your investment.
More than that, investing in projects like RobotEra, C+Charge, and Fight Out allows you to participate in revolutionising the digital space. You can accomplish all this and more by being strategic and choosing the right investments to get involved in.
Frequently asked questions
How many cryptos are available across the world?
According to CoinMarketCap, there are around 21,910 cryptos globally. This amounts to a total of $850 billion in market capitalisation.
Where can you buy crypto?
The main way you can buy crypto is through crypto exchanges. However, before registering to an exchange platform, check its availability and license in your region.
Is it smart to purchase crypto in 2023?
The crypto industry is currently in a bear market, and many investors consider this the best time to invest in cryptocurrency since the prices are low. Your assets will increase when the industry improves and enters the bull market.
There are also promising projects such as RobotEra, Fight Out, and Meta Masters Guild that you can invest in to potentially receive high returns.
