Do you want to know the best altcoins to invest in 2023?
Major cryptocurrencies such as Bitcoin aren’t the only investment prospect in the industry.
There are thousands of cryptocurrencies that are active in the market, and you can reap the benefits they have to offer if you know where to look.
In the same regard, not every altcoin will be profitable for you.
You also want to consider the market’s volatility and choose an altcoin that has upside potential.
It’s easy to find investments that come and go with short-term gains, but if you want something that’ll last, it’ll take some due diligence.
In this article, you’ll learn about the best altcoins to invest in 2023 to diversify your portfolio and set yourself up for the best return possible.
Best Altcoins to Invest in 2023
Here’s a quick look at the best Altcoins to invest:
- Fantom (FTM) – 🏆 Winner!
- Ethereum (ETH)
- Oasis Network (ROSE)
- Decentraland (MANA)
- Algorand (ALGO)
- Monero (XMR)
1. Fantom (FTM)
Important Guide: How to Buy Fantom (FTM)
By far one of the best altcoins to invest in 2023 with a low market cap, this cryptocurrency is a smart contract platform that offers DeFi services while utilizing its in-house consensus algorithm.
Its primary focus is to alleviate known issues that come with smart-contract platforms, one of which is transaction speeds which are consistent complaints among the crypto community.
A decentralized smart-contract platform that’s open-sourced, Fantom (FTM) is created to support digital assets and DApps and works toward security, scalability, and decentralization.
It has an independent consensus layer called Lachesis, which uses smart contracts to facilitate various DeFi services.
Above all, Fantom is known for its transaction processing times of 1-2 seconds, and the cost for each transaction is extremely minimal.
In essence, Fantom is able to exercise higher scalability with some of the lowest costs. This alone makes FTM one of the best altcoins to invest in.
The Fantom ecosystem is created by two consensus layers, one of which being Lachesis and the other is called Opera.
With qualities such as near-instant finality, being leaderless, and asynchronous, Lachesis also provides security for other consensus layers. Opera is a layer for app development that’s Fantom’s mainnet deployment platform.
The token’s ecosystem also allows holders to vote through its on-chain governance feature.
Not only is FTM a great investment opportunity, but it also powers Fantom’s ecosystem for governance, staking, network fees, and more.
Aside from investors, Fantom has garnered the attention of developers that work with DApps, and the company hopes to be a universal link between all transactions worldwide.
At the time of writing, FTM is currently trading at $1.17 per token, so it’s a great time to add it to your portfolio.
2. Ethereum (ETH)
One of the more popular cryptocurrencies on this list, Ethereum has been a long-standing investment prospect in the crypto market for many years.
It’s a decentralized open-source blockchain that’s used to execute smart contracts, and its cryptocurrency Ethereum (ETH) acts as a base platform for many other cryptocurrencies.
Ethereum continues to rise in value, and its purpose in the crypto market is stronger than ever.
At its core, Ethereum was created to use the blockchain to execute smart contracts and host other cryptocurrencies through its ERC-20 compatibility standard.
To this day, Ethereum has hosted over 280,000 different ERC-20 compliant cryptocurrencies.
On the other hand, ETH is known for its high transaction fees, some come from the token’s overall demand, but the company is working toward transitioning to a proof-of-stake algorithm.
This will help ETH scale and offer new features, including how gas fees are estimated on its blockchain.
By far, Ethereum is one of the best altcoins to invest in as it has a proven track record of growth and adaptability in the crypto market.
These changes come with the company’s ETH 2.0 update, which will bring a new consensus mechanism in addition to scaling and sharding solutions.
With ETH 2.0 in effect, the original ETH chain will act as a settlement layer for interactions from smart contracts on other chains.
Aside from the token’s pros and cons, it’s an excellent investment option that still has lots of room to grow in the future.
Currently, ETH is sitting at $3,053.89, and it isn’t too late to start adding it to your crypto portfolio.
Important Guide: How to Buy ROSE
With a focus on leveraging privacy-preserving tech that enables users to earn income by sharing their data, the Oasis Network is a privacy-enabled layer one blockchain network.
Boasting low gas fees and high throughput, ROSE has a secure architecture that’ll offer a foundation for Web3 while powering DeFi, Metaverse, data tokenization, and much more.
It’ll be a large player in scaling Web3, and many cryptocurrency experts support it as a great investment choice.
Part of its technology separates execution and consensus into two different layers, offering better scalability.
These layers are called the ParaTime and Consensus Layer, respectively.
With this separation, anyone is able to develop or create their own ParaTime to meet specific needs of an application, some of which are open and closed committees.
The company has plenty of backing from other reputable companies in the industry alongside a decent list of Fortune 500 companies such as Binance and many others.
Another aspect that makes ROSE an excellent investment is it’s highly scalable and will easily adapt and service the Web3 and DeFI space.
Highly regarded as one of the best altcoins to invest in, ROSE comes with plenty of investment potential in the long run. They’re only scratching the surface of their road map, which is filled with many advancements that’ll benefit crypto investors.
Another focus for the company is data-backed NFTs, as they feel the digital asset has a lot more potential than what they’re currently known for.
Instead of only owning popular assets, whether artwork or a piece of music, ROSE aims to take it one step further, allowing holders to own NFTs that store a specific, unique, and complex piece of data that only you claim ownership to.
It allows users to control where data goes and who has access to it, making data-backed NFTs another layer of security for private or sensitive information.
Whether you’re interested in the specific qualities of the token’s technology or not, many experts consider it a profitable altcoin to invest in for long-term gains.
Virtual reality has become increasingly popular over the last 5-10 years, and there are many integrations between VR tech and the cryptocurrency market.
Decentraland saw this vision from the start and created a virtual reality platform that allows users to create and monetize content or experiences.
They can also use Decentrland’s token MANA as a form of payment in the virtual reality world.
Considered to be one of the best altcoins to invest in, MANA has been a solid investment option since its launch and continues to evolve, adding more value to investors and the market as a whole.
Powered by the Ethereum blockchain, Decentraland allows you to purchase virtual land and build and monetize it how you see fit.
It’s an excellent choice for individuals, companies, and content creators to flourish in a virtual setting and manage digital assets that’ll potentially be worth more money down the road.
The virtual reality program runs on two different tokens: MANA and LAND. To explain how these tokens correlate, MANA has to be burned to acquire LAND tokens. Furthermore, MANA tokens can be used to purchase accessories, names, and more in the virtual world.
Aside from its focus on virtual reality, Decentraland uses a decentralized autonomous organization (DAO) structure for governance decisions.
This allows MANA investors to affect how Decentraland evolves by voting on policy updates, LAND auctions, and the various content that’s allowed on the platform.
Important Guide: How to Buy Algorand (ALGO)
With support for many different applications, Algorand (ALGO) is a blockchain-based network that’s decentralized and self-sustaining.
Outside of being secure and scalable, the token aims to be useful for many real-world applications.
ALGO has been a top altcoin for many crypto traders, offering lower transaction fees and increased efficiency for transaction times over the last few years.
The token is a response to the slow transaction times of many other blockchains, and it supports computations that need performance guarantees to offer new forms of trust.
ALGO is one of the newer cryptocurrencies on this list, but it has shown a lot of promise in a short timeframe.
It’s also structured to be compatible with Ethereum with the help of the London Bridge, which is a trustless bridge that brings ETH compatibility to ALGO’s blockchain.
The company may have encountered their fair share of roadblocks, but this hasn’t stopped the execution of their roadmap.
You can also stake ALGO to passively earn on what you hold in your portfolio, and the token is currently trading at $0.72, so it’s an optimal time to stock up before the token sees any kind of exponential growth.
6. Monero (XMR)
Launched in 2014, Monero (XMR) offers private and anonymous transactions with the use of advanced cryptography.
You might think your identity is entirely safe on any blockchain, but this actually isn’t the case, as some information can still be traced back to the original source due to the transparency of blockchain technology.
Monero’s primary concern is the security and privacy of the individual user while allowing them to send and receive payments quickly, privately, and inexpensively.
The face the company is aiming to provide the most decentralization possible is enough to make XMR one of the best altcoins to invest in.
Moreover, Monero is entirely fungible, and many investors feel it’s the most private cryptocurrency you could invest in.
There are many other tokens that focus on privacy, but none are trying to reach the level of decentralization that XMR is looking to maintain.
One measure taken to create obscurity is that transactions can’t be linked to another as every transaction comes with its own unique stealth address, which is only used once.
Ring signatures are what allow XMR and its investors to remain so obscure.
Transaction outputs are taken out of the blockchain and work as a decoy to make it more difficult for outside observers to gather information.
This protects your identity and the data associated with each of your transactions.
Whether you’re new to trading or a seasoned investor, each altcoin in this list is an excellent investment prospect for anyone looking for solid long-term holds.
Of course, you always want to vet each token for yourself and exercise due diligence, but each altcoin that I’ve listed comes with many benefits and earning potential.
Regardless of how volatile the market gets, it’s best to hold these tokens for as long as possible, as they’ve barely scratched the surface of what they’re capable of in the grand scheme of their respective roadmaps.
So, any of the best altcoins to invest in that I’ve listed above can provide lucrative opportunities for you.