5 Promising Cryptocurrencies for 2023

On our journey as humankind, through the ages until today, our monetary items have evolved into multiple forms. Sea shells, meteorites, obsidian, amber, beads, copper, gold, silver and lead ingots! You name it! However, when Mesopotamians created the shekel, the first known form of currency, it was a time when the age was closed, and a new one opened.  

The next massive sparkle in the finances would be on 31 October 2008, when Satoshi Nakamoto released his avant-garde manifesto “Bitcoin: A Peer-to-Peer Electronic Cash System”.

All the currencies from the earliest known mints date to 650 and 600 B.C. in Asia Minor to the issue of the $1 United States Note with a portrait of George Washington, including 180 different fiat currencies today, have two specific characteristics: Centralisation and traceability. In modern times, when we look at a banknote or a coin, we can precisely say under which country it was issued or in which emperor’s reign it was coined. Actually, these are the reasons why authorities have always loved fiat currencies; they are under control!

However, thanks to the penetration of the Internet into our lives, the world rushes to evolve, and the change is irresistible with this new generation. A generation against grave regulations, demanding authorities, and limitations. This is how the concept of cryptocurrencies was born. The perspective of finances should be decentralised and libertarian! Precisely the reverse of what we were taught!  

What is Cryptocurrency? 

In a nutshell, we can define cryptocurrency, aka crypto, as a digital currency that can circulate and pass into other hands without a central issuing or regulatory authority like a bank or government. Since cryptos utilise cryptography to secure transactions, the name refers to its pillar and possibly the most favourable characteristic of it. The perspective of these new monetary assets alternated into something we have always craved… An idea of invisibility! To be out of sight in an ecosystem where every move alerts just like a caution lamp. 

As the French Revolution of finances, crypto coins were brutally criticised by superior authorities such as conservative investors, banks, and ministries of the economy at first. Many indicted cryptos for being a Ponzi scheme in which investors will lose all their ventures sooner or later. Additionally, the others -primarily governments- proclaimed that they are used to support malicious activities. It is not unexpected to see authorities casting aspersions upon them when we think of the government losing power over the currency system and cannot hold the monetary policy. 

Against all the barriers and prejudgments, today, cryptocurrencies are one of the most demanded assets carrying out a market valued at $1.8 trillion in 2021 and are projected to reach $4.94 trillion in less than a decade. We are talking about a system with a daily trading volume of over $93.4 billion. This is much more than many countries’ GNPs (Gross national product). Pretty thought-provoking, right?


How Many Crypto Coins Are There in 2022?

According to the latest search, there are nearly over 10,000 cryptos out there as of 2022. This number includes coins, altcoins and tokens. Let’s open brief parentheses for those who are unfamiliar with the main definitions of these three terms.   


  • Coins: These are the ones with their own blockchain, where they operate as the native token and gas payment token. For instance, Bitcoin functions on the Bitcoin, whereas ETH is on the Ethereum blockchain.
  • Altcoins: These are alternative cryptocurrencies other than Bitcoin (BTC) and are collectively known as “altcoins” or disparagingly “shitcoins”. However, some analysts attach Ethereum (ETH) to Bitcoin because most cryptocurrencies are forked from one of the two.

Plus, when there is a rally across altcoin markets, the market calls them an “alt season”.

  • Tokens: Tokens are digital representations coded to operate smart contracts on blockchain networks like Ethereum. Since they are embedded in self-executing computer codes, it is possible for them to be facilitated with no need for a third-party platform. Being fungible and tradable, tokens may represent commodities or even other cryptocurrencies. 

Besides the above, we can categorise cryptos based on their operations, formulation, code, application and use subject. From this standpoint, titles would be exchange, utility, payment method, security, stablecoins, DeFi tokens, and a new art approach, NFTs.


Which Cryptocurrency will Rise This Year?

Cryptos hold a significant share in the leading investors’ portfolios. Although they are still considered assets rather than currencies, people all over the world witness the rallies and how the emerging market develops day by day. Including their resilience after all these grave regulations and blocks, today, crypto exchange markets like Binance, Coinbase, or Kraken provide massive amounts of transfers on a daily basis. But what is the best crypto to invest in? Is it conceivable to predict success in advance?   

You will probably encounter multiple articles suggesting the golden goose in the crypto market, yet please note that most of them may delude you about their sponsors or linked platforms. However, this overall analysis of five auspicious cryptos of 2023 depends on long personal experience in the DeFi sector -since it was created from ground zero in 2008- and functionality for the current ecosystem. Here are the most promising cryptocurrencies painting a rosier picture for upcoming days.

1. Bitcoin (BTC)


  • Market Cap: $374 Billion.
  • As of 26 September 2022, Bitcoin’s price is around $18,900. 


“If the Blockchain was Olympus, Bitcoin would be the mighty Zeus!” 

The ancestor of all cryptocurrencies, Bitcoin has always been the most demanded one among all others. Released as a manifest in 2008 by a pseudonymous person/persons named Satoshi Nakamoto, Bitcoin stands for an ideology of libertarianism in finances. In contrast with traditional banking systems operating IBANs and verifications, Bitcoin Blockchain allows holders to make P2P (Peer-to-Peer) transfers without intermediaries. 

How does Bitcoin work? Bitcoin (BTC) is nothing more than open-source software, a computer file. Designed in chains of blocks (Blockchain), Bitcoin mining involves the addition of new blocks through deciphering cryptographic codes by customised mining software. The span of mining Bitcoin may differ up to the subject processor capacity and the length of the code. It is believed that Satoshi Nakamoto had mined approximately a million of them until his disappearance, and there are still 20 million BTC out there.

Is Bitcoin a good investment? Bitcoin was less than $0.40 in 2010, and when the calendars showed April 2011, the price crossed $1 for the first time. Passing numerous cycles of depreciation and appreciation in years, Bitcoin’s value reached an all-time high, $65,000, by November 2021. That’s a growth of nearly 65,000% in a decade. A magnetic success story!   

2. Ethereum (ETH)


  • Market Cap: $192 Billion.
  • As of 26 September 2022, Ethereum’s price is around $1,302.

 “The gold of the digital currencies is Bitcoin, and the fuel is Ethereum,” says Tyler Winklevoss, co-founder of Gemini.     

Vitalik Buterin, a competent software developer, introduced Ethereum in 2013. Did you know that “Ether” refers to a hypothetical element permitting the light to slip by? As the second largest domination regarding volume in the market cap following Bitcoin, Ethereum is one of the most trusted cryptocurrencies. Although the holders frequently complain about pricey Ethereum transaction fees, Ethereum is considered a wise step for the future rather than chasing volatility. 

How does Ethereum work? Considering its form consisting of thousands of “Nodes” by volunteers worldwide, ETH is generally called the “world computer”. Although Smart contracts are already self-operable, the system must still meet specific requirements such as a valid form of payment and calculation. Ether has the role of “crypto-fuel” on the Ethereum network; hence, Ether price varies depending on the usage of the Ethereum Blockchain.

Is Ethereum a good investment? To be frank, Ethereum has always been the most reliable crypto of all. Standing on a well-developed technology with a bright tomorrow and giving access to an entirely new way of art, NFTs (Non-Fungible Tokens), this cryptocurrency offers much more than the eye meets its holders. The bullish market analysts claim that Ethereum could easily reach $4,200 by December 2022 in case the upcoming “Merge” upgrade is completed.  

3. Tether (USDT)


  • Market Cap: $69 Billion.
  • As of 26 September 2022, Tether’s price is around $1,00.

Unlike others with high volatility, Tether promises a more secure way to protect your belongings against bubbles and busts. Since this coin is pegged against the US dollar, you will always find the 1-to-1 ratio in terms of price. The stable value of Tether makes it a favourable medium for more straightforward exchanges. Thanks to its genius and well-designed structure, it successfully fills the large gap between fiat currencies and cryptocurrencies. 

How does Tether work? Operating on an open source and P2P system, Tether is always backed up with US dollars. It can remain so near that price as long as investors believe subject proceeds are entirely reserved with liquid collateral acquisitions. 

Is Tether a good investment? For those investors who are new to cryptos and concerned about sudden ups and downs in the market, Tether may be a great alternative. Moreover, compared to many other fiat currencies US Dollar has been ascending broadly since May 2022 as the US economic retrieval ramps up while the Federal Reserve began to rein in monetary support. Multiple analysts envision the US Dollar might keep on rising in 2023 as well. So, Tether can be an even better idea to keep your assets secure and away from instability. 

4. Cardano (ADA)


  • Market Cap: $17 Billion.
  • As of 26 September 2022, Cardano’s price is around $0,44.

Charles Hoskinson, the Ethereum co-founder, founded Cardano in 2015 and funded through an ICO (Initial Coin Offering) as a third-generation blockchain centring upon smart contracts, decentralised apps, multipart computations, and sidechains. Shortening transaction time while keeping energy usage and environmental impact at a minimum, Cardano eliminates all the unfavourable sides of pricey Ethereum through its lightweight mindset. Thus, it is not surprising most Ethereum aficionados also invest in Cardano and its internal cryptocurrency, ADA.

How does Cardano work? As a promising future opponent of ETH in the smart-contracts arena, Cardano uses PoS (Proof-of-Stake) instead of PoW (Proof-of-Work) protocols requiring significantly more energy. Plus, PoS protocols successfully overcome troubles like scalability, interoperability, and regulatory obedience. Cardano penetrated DeFi services by September 2021 and opened a new era to construct decentralised applications (DApps) in more manageable, affordable, and greener routes. 

Is Cardano a good investment? Cardano is one of the most promising cryptocurrencies from many perspectives. Operating smoother and being an environmentally friendly alternative to Ethereum makes it the apple of an eye in the crypto ecosystem. In 2017, Ada was just $0.02, but today it has already passed $0,44. This is a 2100% increase in less than five years! 

5. Binance Coin (BNB)


  • Market Cap: $46 Billion.
  • As of 26 September 2022, Binance Coin’s price is around $272.

Undoubtedly Binance Company is the most reliable exchange platform with a massive gallery of diverse cryptocurrencies. It has developed two cryptocurrencies: Binance Coin (BNB) and BinanceUSD (BUSD), a stablecoin backed by USD. Born as an Ethereum token in July 2017, the Binance Coin moved to the Binance Smart Chain (BSC) in 2020. The sumptuous trust in Binance as a platform led to high demand for its internal crypto coin. Another benefit of BNB is that Binance users can pay their transaction fees through it.

How does Binance Coin work? BNB Chain uses “Proof of Staked Authority”, which is considered a combination of Proof of Stake and Proof of Authority. Using its 21 approved validators, BNB is compatible with smart contracts and EVMs (Ethereum Virtual Machine). Its well-thought design makes it an excellent alternative for trading, payment processing or even booking a journey. 

Is Binance Coin a good investment? As of 2021, Binance Coin made an exceptional rally, and its price reached $690. Considering it was just $0,10 in 2017, this is a massive increase and shows the potential of the cryptocurrency. Are you already a trader in the Binance exchange? Why don’t you add a small amount to your portfolio to see how it works and whether it is a good investment or not? 


All in all, cryptocurrencies are the independent future of financial transactions. With institutional players stepping onto the stage one by one, it can be wise to invest some Bitcoins, altcoins and tokens. After years, cryptocurrencies managed to take retail investors’ attention away from orthodox mediums. Although the volatility of cryptos has consistently been shown as an inadequate spot, the old boys in the game know that volatility can be pretty beneficial in any market when you learn to take the pulse of the market and feel the aftershocks. 

The key is comprehending the technologies and the teams behind a cryptocurrency; then, you can diversify your portfolio by choosing promising projects with a sound vision and solid fundamentals. You can also follow the trading analysts and forums to understand the trends in the subject coin. Keep in mind that every single investment requires a deep search and providence, even if it is a cryptocurrency, a property, a stock or a fiat currency!