London, UK, 5th Feb 2022, Binary News Network, Blockchain is the technology that supports cryptocurrency. Blockchain is a digital & decentralized ledger that records all transactions, not altered later. No third-party involvement is required to validate the transaction, making it extremely secure. Bitcoin was the first cryptocurrency ever launched in 2009. It started with a value of 0.1 USD and reached its peak of 19,783 USD on 17th December 2017. Since then, the cryptocurrency market has shifted down & currently, the value of BTC is at 6195 USD (as of 1st March 2019).
Since its launch, other cryptocurrencies like Ripple (XRP), Ethereum (ETH), Stellar Lumens (XLM) etc., have emerged, making it one of the largest & most secure digital currencies markets. Victoria-Coins broker, Alexander Polansky, says another advantage is that they are independent of any bank or country, so the value of these cryptocurrencies doesn’t depend on external factors.
However, with this popularity comes to its cons – Blockchain being a decentralized technology, it has no central authority to control it; hence it constantly faces cyber-attacks that have resulted in huge financial losses to companies or individuals.
Now, this results in a big dilemma for investors – to invest in a less secured cryptocurrency market & be a part of the ‘next Bitcoin’ hype or keep back and wait for more time till the market stabilizes. Here, we will discuss five safe cryptocurrencies to invest in 2023 that are guaranteed to yield you great returns.
Ripple (XRP) – Global Payment Network:
Ripple is fast, secure, and reliable. It can process 1500 transactions per second & is already being used by several financial institutions to reduce the time & cost of global money transfers. Ripple’s XRP is currently trading at 48.17 USD with a market cap of 38 billion USD. It’s expected to cross the USD 100 mark by the end of 2023, so it’s good to invest now.
Ethereum (ETH) – Decentralized Applications:
Ethereum is an open-source, decentralized computing platform that runs smart contracts, i.e., applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. It’s being used by many individuals, banks & other industries to run their financial operations. Ether (ETH) is Ethereum’s native token & it’s currently trading at USD 2,741.14 with a market capitalization of ~62 billion USD, which has seen an upsurge of more than 11x in 2019 already. We expect it to reach at least USD 4000 by the end of 2023.
Stellar Lumens (XLM) – Financial Industry & Transactions:
Stellar is a decentralized financial network that connects people, payment systems, and banks through its platform. It lets you transact money quickly, reliably & for fractions of a penny. Its native cryptocurrency, Stellar Lumens (XLM), is currently trading at 0.1992 USD with a market cap of 3.5 billion USD. We expect it to cross the $1-5 USD mark by the end of 2023, which will give you great returns on your investment.
Cardano (ADA) – Decentralized & Science-Based:
Cardano gives you ten decentralized, fully open-source blockchain-based cryptocurrency projects that are developing a smart contract platform that seeks to deliver more advanced features than any previously developed protocol. Its ADA token is currently being traded at 1.06 USD with a market cap of 2 billion USD. It’s very cheap right now & has the potential to yield great returns in the future.
Tron (TRX) – Decentralized Internet:
Tron is a decentralized protocol based on blockchain technology that allows users to freely publish, store & own data. Its TRX token is currently being traded at 16.80 USD with a market cap of 2 billion USD. It’s very cheap right now, so it’s good to invest in it. We expect it to reach at least the $40-50 USD mark by 2023, which will yield you great returns on your investment.
Why Should You Invest in the Above Cryptocurrency?
We already know that Blockchain Technology has great potential, and the best thing about these cryptocurrencies is that they are based on blockchain technology. We expect them to yield you great returns as we have seen how Bitcoin & other altcoins have performed this year.
There’s no doubt that even though there’re many frauds around, initial coin offerings (ICO) & cryptocurrency trading has proved to be a turning point in the financial market by providing great returns on your investments.
What are the Challenges Involved with These Cryptocurrencies?
The main challenges are regulation & cryptocurrency bans in many countries. Also, there’re many frauds around cryptocurrencies, so you need to be very careful before investing in any digital currency.
How Will You Keep Yourself Updated?
The best way to keep yourself updated is by verifying the news related to these cryptocurrencies on various social media sites, i.e., Facebook, Twitter, Reddit etc. Also, you can subscribe to the various cryptocurrency-related YouTube channels for regular updates & news about them.
What’s The Estimated Worth of These Cryptocurrencies?
We have a fair idea of what these cryptocurrencies are expected to yield in the future, so it would be better if you invest now as they’re still more than a few years left before these cryptocurrencies reach their full potential, as you can see from the graph below.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.