Are you looking to invest in cryptocurrencies but unsure which one to buy? With so many options available, it can be overwhelming to decide how to invest your money. That’s why we’ve compiled a list of the best crypto to buy now, based on factors such as project developments, price performance, and market capitalization, as well as the overall potential for growth.
In this article, we’ll take a closer look at the most promising cryptocurrencies, including staples such as Bitcoin and Ethereum, and a combination of several other promising crypto projects. We’ll discuss their features, advantages, and potential drawbacks, as well as provide insights into market trends. Whether you’re a seasoned investor or just starting out, this article will help you make an informed decision about the best crypto to buy now.
So, let’s dive in and explore the best cryptocurrencies to invest in 2023:
- Bitcoin – The world’s oldest and largest crypto
- Terra Classic – A blockchain and payment platform
- Kava – An interoperable platform built on Cosmos
- Chainlink – A decentralized oracle network
- Ethereum – The leading DeFi and smart contract platform
- Cosmos – A leading interoperability-focused blockchain project
- Near Protocol – A highly scalable DeFi-focused blockchain
- Solana – One of the fastest and cheapest L1 blockchains
- THORChain – A decentralized trading protocol
- XRP – A leading crypto-powered payment solution
- Shiba Inu – A NFT, DeFi, and blockchain gaming project
- Toncoin – A blockchain designed by Telegram and run by the community
Best cryptos to buy right now
The following three cryptocurrency projects highlight our investment selection thanks to important developments and upcoming events that make them especially interesting to follow in the near future. These projects are updated each week based on the most recent developments and trends taking place in the crypto market.
Bitcoin (BTC) is the original decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries such as banks or financial institutions. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin was the first digital currency to eliminate the double spending problem without resorting to any central intermediaries.
Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world. This means that the transactions are secure and transparent, as anyone can view them, but they are also anonymous, as the identity of the participants in the transaction is not revealed.
BTC can be bought and sold on cryptocurrency exchanges, and they can be stored in a digital wallet, which is a software program that securely stores private keys that are required to access and transfer the currency.
Bitcoin is often referred to as “digital gold” or a store of value, as it has a limited supply of 21 million coins, and its value is determined by market demand. Some people also see it as a hedge against inflation or a way to diversify their investment portfolio. It is by far the largest cryptocurrency by market cap in the industry, accounting for the value of more than 40% of all digital assets in circulation combined, making it arguably the most popular crypto to buy.
Bitcoin has surpassed $42,000, a price level last seen in April 2022. The positive price movement has drawn investors to the Bitcoin market, as indicated by increased Google search activity (search for the “Buy Bitcoin” term increased over +30% since mid-October) and notably bullish sentiment in the crypto market.
An important reason why Bitcoin has enjoyed bullish activity is the speculation over the potential launch of the first Bitcoin spot ETF in the United States. Large institutional firms like BlackRock, Fidelity, Grayscale, and several others have all filed their ETF applications, fueling speculation that the launch is just around the corner. It is believed that the launch of spot ETF could significantly boost the price of Bitcoin due to the institutional capital inflows that would be unlocked if/when the ETF investment vehicle goes live.
Furthermore, with the next Bitcoin halving event approaching (expected to take place in late April 2024), the current price level could allow investors to gain exposure to the coin at a discount before Bitcoin’s price starts to take off. Bitcoin halving is an event that halves the rewards miners receive for each block. In the next halving, the fourth one in Bitcoin history, this reward will drop from 6.25 BTC to 3.125 BTC. It is worth noting that Bitcoin halvings have historically been major price catalysts for BTC and the rest of the crypto market.
Historically, each Bitcoin halving cycle has brought new all-time highs, supporting the argument of those who advocate buying Bitcoin ahead of a halving event. Here’s a quick breakdown of the highest and lowest prices in each cycle, as well as the BTC price at the time of each halving:
|Lowest Price||Highest Price||BTC Price at Date of Halving|
|1st Halving Cycle (Nov 2012 – Jul 2016)||$12.4||$1,170||$12.3 (Nov 28, 2012)|
|2nd Halving Cycle (Jul 2016 – May 2020)||$535||$19,400||$680 (Jul 9, 2016)|
|3rd Halving Cycle (May 2020 – Mar 2024)*||$8,590||$67,450||$8,590 (May 11, 2020)|
2. Terra Classic
Terra Classic (LUNC) is the native cryptocurrency of the Terra blockchain, a public blockchain designed for stablecoins and decentralized applications. LUNC was originally known as LUNA, but it was rebranded to Terra Classic after the collapse of the Terra ecosystem in May 2022.
LUNC is a utility token that is used to pay transaction fees on the Terra blockchain. It is also used to mint and burn stablecoins, which are cryptocurrencies that are pegged to a fiat currency, such as the US dollar. LUNC is also used to stake, which is a process of locking up your tokens in order to earn rewards.
The price of LUNC reached a high of $119.18 in April 2022, but it collapsed to a low of $0.0000165 in May 2022. The price of LUNC has since recovered somewhat, but it is still well below its all-time high. The project is currently being developed by the community, which has passed several proposals in recent months in hopes of salvaging the LUNC ecosystem.
Why Luna Classic?
Terra Classic has seen renewed interest in the past couple of weeks, with LUNC gaining close to +100% in the past seven days. The main reason for the meteoric price increase has been Binance’s launch of perpetual contracts for USTC with up to 50x leverage.
According to the announcement, the USDⓈ-M USTC perpetual contracts are settled in USDT and have a tick size of 0.00001. They also support the Multi-Assets mode, Binance’s own solution that allows users to trade the USDT and USDTC Perpetual Contract across multiple margin assets.
The launch of USTC futures with high leverage could introduce additional volatility to the already volatile cryptocurrency ecosystem. It must be noted that Terra Classic – a currency that once belonged firmly in the crypto top 10 and now finds itself over 99.99% removed from its previous ATH – is far from a safe investment. However, with the broader crypto market showing bullish sentiment, LUNC is a type of cryptocurrency that could absolutely explode in value if euphoria takes over the markets.
Kava is a cryptocurrency and blockchain platform designed to provide decentralized financial services, such as lending, borrowing, and trading, in a decentralized manner. The Kava platform is built on the Cosmos blockchain, which is a scalable and interoperable blockchain ecosystem. Kava utilizes its own native cryptocurrency called KAVA, which is used as a utility token within the Kava ecosystem to facilitate both governance and various utility use cases.
One of the key features of Kava is seamless interoperability between blockchain platforms, which allows users to share their crypto asset liquidity across different dApps and financial services. This feature enables users to earn interest on their deposited assets and access liquidity without having to swap cryptocurrencies when they want to access protocols across different blockchains.
Kava also supports the issuance of stablecoins, which are cryptocurrencies pegged to the value of traditional fiat currencies, such as the US dollar. These stablecoins provide a stable store of value and can be used for transactions and investments within the Kava ecosystem. In addition, decentralized governance allows KAVA holders to participate in the decision-making process regarding platform upgrades and investments in new projects.
The Kava 15 mainnet upgrade is launching on December 7th, which could renew investors’ interest in one of the most active blockchain projects in the space. The 15th iteration of Kava is bringing zero inflation to the ecosystem, making Kava the first PoS currency to have zero inflation.
According to the official statement, the change to zero inflation monetary policy will go into effect on December 31. This shift means that the circulating supply of KAVA will be capped at its maximum limit, with no new coins generated; instead, KAVA coins can only be removed or destroyed (burned).
The Kava chain will thus transition to a sustainable model reliant on transaction fees, emissions from native projects, and interim allocations from the Kava Foundation. This new approach aims not only to sustain but also to generate a surplus of KAVA through on-chain activities, according to the Kava team.
Elimination of inflation and potential token burns could play a pivotal role in regard to Kava’s price. Accompanied by the overall bullish sentiment permeating the cryptocurrency markets, Kava could be in a price spot to benefit from these potential price catalysts.
The best cryptocurrencies to invest in 2023
Chainlink is a decentralized oracle network that acts as a bridge between smart contracts on blockchain platforms and real-world data. Its primary role is to ensure the reliability of data used in smart contracts by connecting to multiple data sources, reducing the risk of data manipulation or failure. This enhances the versatility of smart contracts, allowing them to access and utilize a wide range of external data sources and services beyond their native blockchain environment.
One of Chainlink’s notable features is its security model. It relies on a decentralized network of nodes to fetch and validate data, eliminating the single point of control or failure. However, there are concerns about centralization, with some major node operators having substantial influence in the network. Additionally, integrating Chainlink into smart contracts can be complex, potentially posing challenges for developers.
Chainlink acts as a crucial intermediary, enabling smart contracts to interact with real-world data. It enhances data reliability, expands the potential use cases for smart contracts, and relies on decentralization for security. Nonetheless, concerns about centralization and competition are factors to consider in its ongoing development and adoption.
Starting November 28, priority migration for existing LINK stakers will commence, setting the stage for the eventual switch to Chainlink Staking v0.2. The new version of the staking protocol – which will go live for the general public on December 11 – builds on the foundation of the first version with greater flexibility, improved security guarantees, seamless future upgradeability, and a dynamic rewards mechanism.
The new staking upgrade will focus on several key areas, including:
- Enhanced flexibility: Introducing a new way for both Community and Node Operator Stakers to withdraw staked LINK through an unbonding mechanism, providing greater freedom.
- Heightened security measures: Strengthening security for Chainlink oracle services by penalizing Node Operator Stakers through the slashing of staked LINK, ensuring improved safety.
- Modular architecture for future growth: A flexible framework designed for easy upgrades and expansions, enabling the addition of new services and improvements in the future.
- Dynamic rewards system: Supporting various sources for staking rewards, including potential future options like user fees. This adaptability aligns with the platform’s growth as it secures additional services.
Overall, the new upgrade promises to revamp the existing staking mechanism and introduce new features to make it sustainable for the long term. These changes could play a positive role in attracting new investors and users to the Chainlink ecosystem.
Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum is a decentralized, open-source blockchain platform that allows developers to build decentralized applications (dApps) and smart contracts.
Ethereum has a wide range of use cases beyond just a store of value or medium of exchange. Ethereum’s smart contract functionality allows developers to build dApps that can run without the need for intermediaries, like centralized servers or institutions.
The Ethereum platform has gained widespread adoption and has become the backbone of the decentralized finance (DeFi) industry. DeFi applications built on Ethereum allow users to access financial services without relying on traditional banks or financial institutions. Ethereum’s smart contract functionality has also enabled the creation of non-fungible tokens (NFTs), which have gained popularity in the digital art and gaming worlds.
While Ethereum has a strong community and has been highly influential in the cryptocurrency industry, it also faces challenges, such as scalability issues and high gas fees. These issues have spurred the development of various Layer 2 scaling solutions. In the long run, future updates are supposed to massively increase Ethereum’s throughput bringing the transaction per second (TPS) figure from 15 to 100,000.
Traditional financial institutions have displayed a great deal of interest in Ethereum in the past couple of weeks. Santander Private Banking, part of Spanish-based Banco Santander, has reportedly started offering its high-net-worth clients trading and investing products based on Ethereum. According to CoinDesk, a crypto-first publication that reported the news, the offering is currently limited to clients with a Swiss bank account.
The news follows a series of Ethereum spot ETF filings. In October, investment giant BlackRock prominently filed for a spot ETF with the Securities and Exchange Commission (SEC). While we are still waiting for the first Ethereum spot ETF in the US, several futures-based ETFs have already launched in the country – for instance, ARK’s Active Ethereum Futures ETF.
ARK Invest and 21Shares, two prominent investment firms in the crypto space, have filed their respective applications with the Securities and Exchange Commission (SEC) for Ethereum futures ETF products.
Ethereum price tracking futures ETFs (“ARK 21Shares Active Ethereum Futures ETF (ARKZ)” and “ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY)”, respectively) will give institutional and retail investors another venue to invest in ETH futures beyond the current offerings provided by centralized and decentralized digital asset exchanges. In practice, the new investment vehicles could attract new investors to the space and elevate the liquidity of Ethereum spot and futures markets.
The ETH futures ETF news follows the launch of Base, a layer 2 scaling solution for Ethereum built by Coinbase. Unlike some other platforms, Base has not introduced its own token; instead, it is using ETH itself as a gas token.
Cosmos is a blockchain project designed to enable the interoperability and scalability of different blockchain networks, dubbed the “Internet of Blockchains”. The native cryptocurrency of the Cosmos network is called ATOM.
Cosmos aims to address some of the key challenges facing the blockchain industry, including the lack of interoperability between different blockchain networks, scalability issues, and the need for greater efficiency in transaction processing.
The Cosmos network achieves interoperability by allowing different blockchains to communicate with each other through a shared hub called the Cosmos Hub, which acts as a central point of communication for different blockchains, enabling them to transfer assets and data between each other.
The Cosmos network also utilizes a PoS consensus mechanism, which allows for greater scalability and energy efficiency compared to PoW consensus mechanisms. Overall, Cosmos aims to create a more interconnected and scalable blockchain ecosystem, and the ATOM cryptocurrency is used to incentivize participation in the network and facilitate transactions.
The Cosmos community has voted in favor of a proposal to reduce the ATOM inflation rate. The suggested amendment entails a reduction of the maximum inflation rate from 20% to 10%, a move anticipated to curtail ATOM’s inflation from approximately 14% to 10%. The adjustment will correspondingly lower the Staking APR from around 19% to about 13.4%.
The proposal not only aims to stabilize ATOM’s value proposition as a security provider but also anticipates fostering the growth of Inter-Blockchain Communication (IBC) DeFi protocols. Reducing ATOM’s inflation could bolster adoption within these protocols by enabling more competitive DeFi yields and enhancing user engagement across the interchain landscape.
The proposal has polarized the Cosmos community, which is apparent from the vote count as well. About 41% of participants voted in favor of the proposal, while nearly 32% voted against it. It is worth noting that the proposal was backed by Zero Knowledge Validator, an organization with the most votes in favor. They explained their reasoning in an X post:
“Double-digit inflation is unnecessary for security, undermines Atom price in the long run, and discourages the use of ATOM in DeFi and other areas within the Atom Economic Zone.”
7. Near Protocol
Near Protocol is a layer 1 platform powering decentralized applications (dApps) and providing a foundation for the development of Web3 products and services. It facilitates the creation of scalable and high-throughput applications while ensuring security and accessibility.
One of Near Protocol’s unique features is its approach to scalability, which utilizes a consensus mechanism called Nightshade. Nightshade aims to enhance network performance by allowing parallel processing of transactions, potentially achieving higher throughput compared to some competing blockchain networks.
The platform also focuses on developer-friendly tools and usability, aiming to simplify the process of creating and deploying decentralized applications. Its emphasis on accessibility aims to make blockchain technology more user-friendly and approachable for a broader audience.
Why Near Protocol?
Near Protocol has shown remarkable progress, gaining around 28% in just a week, surpassing nearly all other cryptocurrencies in the top 100 during that period. This surge in price can be attributed to several exciting happenings within the Near ecosystem.
First off, Near Protocol made waves by announcing the upcoming launch of what they call the world’s “first fast finality layer” for Ethereum layer 2s, in collaboration with EigenLabs. This innovation is expected to dramatically reduce costs for cross-rollup transactions by a whopping 4000x and slash transaction times from hours to merely 3 to 4 seconds. The testnet for this solution is scheduled to go live in the first quarter of 2024.
Another significant factor boosting NEAR’s impressive performance in the market was NEARCON23, an annual conference dedicated to all things Near. Besides introducing the fast finality layer, the Near team utilized NEARCON23 to unveil a collaboration with Polygon and introduce the Data Availability Layer for ETH Rollups.
Analysts anticipate the NEAR coin’s rally to persist in the upcoming months. As per our Near Protocol price forecast, the cryptocurrency is predicted to more than double in value over the next 12 months, reaching $4.54 by next November. Looking ahead, it’s projected that the price of NEAR could hit $16.44, signifying a staggering 657% increase compared to current market rates.
Solana is a cryptocurrency and blockchain platform that was created to provide a fast, secure, and scalable infrastructure for decentralized applications (dApps) and token issuance. It was launched in March 2020 by Solana Labs, and quickly grew to become one of the largest blockchain networks in the sector.
Solana uses a unique consensus mechanism called Proof of History (PoH) which enables it to process thousands of transactions per second while maintaining a low transaction fee. This makes it one of the fastest and most cost-effective blockchains in existence.
The native cryptocurrency of the Solana network is called SOL, which is used as a medium of exchange and a store of value within the ecosystem. SOL is also used to pay for transaction fees and other network services.
Following explosive growth in 2020 and 2021, Solana hit a rough patch in 2022 due to the broader crypto winter. The negative market activity for SOL was exacerbated following the collapse of the FTX exchange, which was one of the biggest investors in Solana. The SOL coin fell all the way down to $10 in late 2022 (95% removed from its ATH of ~$260) but has since recovered some of its losses.
Solana has shown an impressive performance recently, with a substantial 113% gain against the dollar in the past 30 days. This achievement ranks as the third-best performance among the top 100 cryptocurrencies in the last month.
It’s not just retail cryptocurrency investors that see potential in Solana, but institutional investors as well. The asset management firm called VanEck has released a report emphasizing Solana’s long-term potential. They point out Solana’s exceptional data throughput, which is a strong contender for a potential “killer app” on the blockchain that could cater to a global audience of 100 million users. However, it’s important to note that whether such a killer app will emerge and attract a massive following remains uncertain.
According to the report’s most optimistic scenario, SOL’s price could reach an impressive $3,211 by 2030. In a bearish scenario, the token is projected to trade at $10, while in a more moderate base scenario, it is estimated to be priced at around $335.
Solana has been making waves not just in its price but also in its share of trading volume in the spot markets. According to CCData, Solana made up more than 5.5% of all trading volume on centralized exchanges by mid-November. On November 11th, it hit a new high, dominating a whopping 8.85% of all trading volume on these exchanges, surpassing its previous high of 8.66% from September 2021.
Beyond its impressive price performance and trading volume, Solana’s DeFi ecosystem has been booming too. DeFiLlama’s data reveals a significant surge in the total value locked (TVL) from $215 million at the start of the year to a whopping $1.02 billion at the time of this report.
THORChain is a decentralized liquidity protocol that facilitates seamless cross-chain asset swaps without compromising user custody or introducing wrapped tokens. Unlike centralized exchanges, THORChain empowers users to maintain complete control over their assets while enjoying the benefits of cross-chain liquidity.
The core of THORChain’s functionality lies in its unique pool architecture, which enables native asset swaps without the need for intermediaries or wrapped tokens. This approach eliminates the inefficiencies and risks associated with wrapped assets, providing a more secure and transparent user experience.
THORChain’s native utility token, RUNE, plays a crucial role in maintaining the network’s security and incentivizing liquidity providers. As more assets are deposited into the network, the value of RUNE accrues deterministically, aligning the interests of token holders with the overall health of the ecosystem.
THORChain has surpassed decentralized trading protocols like PancakeSwap, Trader Joe, and Curve Finance to become the second-largest DEX on the market. In the past 24 hours, the platform facilitated $334 million in trading volume, which put it ahead of third-placed PancakeSwap by nearly $50 million. At the moment, THORChain trails only Uniswap, which has a daily trading volume of $1.15 billion as of November 13th (according to DeFiLlama).
What’s perhaps even more impressive is the rate of weekly growth recorded by THORChain. The platform grew by 102% in the past week, which is more than any other decentralized trading protocol among the top 40 protocols by trading volume in the time period.
In addition, THORChain, unlike Uniswap and PancakeSwap, which are both available on several different chains, managed to facilitate its trading volume exclusively through the THORChain network.
The increase in trading volume mirrored the price performance of THORChain’s native token RUNE, which gained nearly +50% in the last 7 days and reached a new year-to-date high above $5 on November 12th. According to our RUNE price prediction, the token could maintain momentum in the coming months and surpass the $17 mark in May 2024.
XRP is a digital cryptocurrency that was created by Ripple Labs in 2012. It is used as a means of payment and transfer of value on the Ripple payment protocol, which is designed to enable fast and secure transactions between financial institutions, as well as individuals.
XRP is unique in that it is not based on the blockchain technology used by many other cryptocurrencies. Instead, it uses a distributed consensus ledger called the XRP Ledger, which is maintained by a network of validators. This allows for faster transaction processing times and lower fees compared to traditional payment methods.
XRP has been popular among cryptocurrency traders and investors due to its high liquidity and clear potential for broader adoption, especially as a remittance solution. However, it has also been the subject of controversy and legal action, with US regulators alleging that it is a security and should thus be subjected to securities regulations. This has somewhat hindered the potential of XRP as an investment, and handcuffed Ripple’s growth as a company.
On November 6th, XRP surged by over 11%, reaching a market cap of $38.26 billion. The massive daily price increase has helped XRP displace BNB in terms of market capitalization, pushing the fintech crypto token in the fourth spot, behind Bitcoin, Ethereum, and Tether.
There are several reasons why XRP could be rallying. For starters, Dubai regulators have recently approved the XRP currency, giving businesses in the country the ability to transact with XRP. Second, Ripple partnered with the National Bank of Georgia for a CBDC pilot program last week. “The pilot will experiment with Ripple’s CBDC technology and evaluate the practical use cases to gauge potential benefits for the public sector, businesses, and retail users,” Ripple explained in a statement.
In addition, on September 8th, Ripple announced its intention to buy Fortress Trust, a Web3 infrastructure, compliance, and operations firm. The acquisition is set to expand Ripple’s selection of U.S. regulatory licenses.
The news follows a favorable ruling for Ripple earlier this year. On July 13, the presiding judge in the SEC vs. Ripple case ruled that Ripple’s sale of XRP to programmatic buyers cannot be considered an investment contract. This means the New York court ruled that XRP is not a security when sold on exchanges to non-institutional buyers.
The court’s decision has been heralded by many as a great outcome for Ripple and the broader crypto market. It sets a precedent for other crypto projects, which sold their tokens to investors through token sales on exchanges.
The judge noted that the sale of XRP to institutional investors was a security offering. The sale of XRP in that way should abide by security laws, making Ripple and its founders responsible for an alleged unregistered sale of securities.
11. Shiba Inu
Shiba Inu is a cryptocurrency that was created in August 2020 by an anonymous person or group of people under the pseudonym “Ryoshi”. It is an ERC-20 token on the Ethereum blockchain, which means it is a digital asset that is compatible with the Ethereum network and can be stored in any wallet that supports ERC-20 tokens.
Shiba Inu gained popularity in 2021 after it was listed on several cryptocurrency exchanges and gained attention on social media platforms like Twitter and Reddit. In fact, SHIB’s 2021 run is still one of the most impressive runs in crypto history, as the meme coin gained over 430,000x in a span of the year. It is often compared to Dogecoin, another meme-inspired cryptocurrency, as it features the Shiba Inu dog breed as its mascot.
However, unlike Dogecoin, the project aims to create a decentralized ecosystem for a variety of use cases, including decentralized exchanges, NFTs, and more. The development team has also created a Shiba Inu-themed decentralized exchange called ShibaSwap.
Why Shiba Inu?
After months of waiting, Shibarium went live on the mainnet on August 17th. Shibarium is a layer 2 platform aiming to reduce gas costs for apps in the Shiba Inu ecosystem.
A unique feature of Shibarium is a mechanism wherein SHIB tokens are burned with each transaction. This attribute could bolster the token’s appeal as a long-term investment.
In the week-long period between August 28th and September 3rd, the number of Shibarium wallets surpassed the 1 million milestone, showcasing the community’s immense interest in the newly launched L2 solution.
While the launch of Shibarium didn’t go as smoothly as the team would have hoped for, mostly due to the massive amount of transactions made within minutes of the platform going live, the layer 2 solution could be a massive deal for the meme coin ecosystem going forward. Not only have transactions become cheaper thanks to Shibarium, but the price of SHIB could also be positively impacted by the deflationary pressure provided by token burns.
Since the Shibarium launch, the price of Shiba Inu saw a small downtick in value, decreasing from $0.000007952 on August 17th to $0.000007739 on September 4th.
Toncoin is a platform consisting of multiple components. One of its main components is the TON Blockchain (with TON standing for “The Open Network”), which is a flexible multi-blockchain platform capable of processing millions of transactions per second. It supports Turing-complete smart contracts, upgradable blockchain specifications, and multi-cryptocurrency value transfers. The TON Blockchain incorporates unique features such as a self-healing vertical blockchain mechanism and Instant Hypercube Routing, which ensure fast, reliable, scalable, and self-consistent operations.
In addition, the Open Network comprises of the TON P2P Network for accessing the TON Blockchain, TON Storage for distributed file storage, TON Proxy for privacy protection, TON DHT for distributed hash table functionality, TON Services for platform-based services, TON DNS for human-readable naming, and TON Payments for micropayments. TON aims to make blockchain and distributed services more accessible by integrating with popular messaging and social networking apps like Telegram (which already supports TON and BTC transfers).
The native cryptocurrency of the Open Network is Toncoin, which is used to facilitate deposits to become a validator, and cover transaction fees and gas payments (fees incurred from smart contract message processing).
Initially, the Open Network was launched as the Open Telegram Network by the Telegram team but was later rebranded as the community took over the development of the project. Telegram withdrew from development in 2020, after the litigation with the Securities and Exchange Commission (SEC), which accused the company of selling unregistered securities.
On November 6, Telegram launched Giveaways, giving channel owners the ability to promote their channels, get new subscribers, and reward existing ones with TON rewards. The news follows a series of positive developments for the Toncoin ecosystem. Among other things, the Toncoin blockchain had recently broken the world record for being the fastest blockchain in the world, beating both decentralized and centralized networks like Solana Polygon, Mastercard, and Visa.
There are several other developments that are worth highlighting when talking about Toncoin’s recent market success. For starters, a recently released Q3 2023 TON ecosystem report showed very promising on-chain metrics in the Toncoin ecosystem. The number of TON accounts increased by more than +250% in the past year, surpassing 3.5 million accounts.
The large increase in accounts and active wallets could be attributed to a number of positive developments in the TON ecosystem in the past 12 months. In September, TON Foundation partnered with Web3 Data Infrastructure company Chainbase and Chinese technology and gaming conglomerate Tencent. The aim of the partnership is to “simplify blockchain development” for “the next era of Web3 mass adoption across the Asia-Pacific region,” according to the official statement.
The focus on Web3 adoption is nothing new for the Toncoin team. On September 14th, the TON-based wallet integrated with Telegram, one of the more popular messaging platforms. The team dubbed the integration “the largest Web3 onboarding event ever”, providing Web3 features to the 800 million strong user base.
The team’s goal is to onboard 30% of Telegram users by 2028, which would be roughly 500 million people.
“This is undoubtedly the biggest onboarding event in #Web3 to date. With plans to onboard 33x more active Web3 users than ALL chains today. #TelegramFi will be seamless, simple, and give you full control of your digital activity in @telegram,” the team remarked in a thread on the X platform.
Best cryptocurrencies to buy at a glance
|Native Asset||Launched In||Description||Market Cap*|
|Bitcoin||BTC||2009||A P2P open-source digital currency||$684 bln|
|Terra Classic||LUNC||2019||A blockchain and payment platform||$1.52 bln|
|Kava||KAVA||2019||An interoperable platform built on Cosmos||$814 mln|
|Chainlink||LINK||2019||A decentralized oracle network||$6.3 bln|
|Ethereum||ETH||2015||The top blockchain platform for smart contracts||$229 bln|
|Cosmos||ATOM||2019||A leading interoperability-focused blockchain project||$2.8 bln|
|Near Protocol||NEAR||2020||A highly scalable DeFi-focused blockchain||$2.2 bln|
|Solana||SOL||2020||One of the fastest and cheapest L1 blockchains||$14.6 bln|
|THORChain||RUNE||2018||A decentralized trading protocol||$1.7 bln|
|XRP||XRP||2012||A leading crypto-powered payment solution||$38.1 bln|
|BNB||BNB||2017||A decentralized Oracle network||$34.6 bln|
|Shiba Inu||SHIB||2020||NFT, DeFi, and blockchain gaming project||$4.7 bln|
|Toncoin||TON||2018||A blockchain designed by Telegram and run by the community||$7.2 bln|
Best crypto to buy for beginners
If you are just starting out in crypto, it is advisable to stick to cryptocurrency projects that are less prone to volatility and are generally more established. While this approach does have a downside, as it becomes much more difficult to expect triple-digit or larger gains, the major upside is that you are not exposed to projects that have a chance of failing and, thus, losing your entire investment.
In order to identify projects that are stable and thus feature low volatility, you can start by following the parameters listed below:
- The crypto asset has a market capitalization that places it into the cryptocurrency top 100 (roughly $400 million as of early 2023)
- The crypto asset is available for trading on the best crypto exchange platforms and can be exchanged for fiat currencies
- The crypto asset boasts healthy liquidity ($100M/day and more), which allows you to execute buy and sell orders quickly and without slippage
- The crypto asset is part of a reputable crypto project with clear goals, a realistic roadmap, and products and services that look to address real-world problems
Some of the best cryptos to buy for beginners are those that follow the above criteria and have earned their standing in the crypto market due to robust security, popular products and services, and clear growth potential. Some beginner-friendly crypto investments are:
It is worth noting that cryptocurrency investments are inherently risky, even if you stick to the biggest and most reputable projects. The reason for this is simple – the crypto sector is relatively new, and the landscape might look completely different in the future.
Best crypto for long-term
When deciding which cryptocurrency to buy for the long term, it’s important to consider projects that are well-established, have a strong community, are highly liquid, have a large market cap, and have a clear reason for existing (such as solving a real-life problem, introducing new functionality, etc.). Without these characteristics, a project might fail to survive in the long term, rendering it a bad long-term investment.
It is worth noting that, typically, most long-term crypto investors are looking for projects that have the potential to generate decent returns, but also provide a degree of investment stability. Roughly speaking, only the largest cryptocurrencies fit the bill, as others have a low market cap and liquidity that doesn’t bode well for a long-term commitment (unless you’re prepared to take on more risk).
In addition to Bitcoin and Ethereum, there are a number of other cryptocurrencies that fit the criteria of being low-risk, long-term crypto investments.
If you are planning to hold onto your digital assets for a longer period of time, it is best to take care of crypto custody yourself. Holding large amounts of crypto on an exchange can be risky, as we’ve seen over the years with the collapse of high-profile exchanges like Mt. Gox and FTX. Use one of the reputable crypto hardware wallets to store your crypto. Ledger hardware wallets, for instance, allow you to manage your crypto holdings easily and provide a much higher degree of security than crypto exchanges or even software crypto wallets.
Best place to buy crypto
One crucial aspect to consider when choosing which platform to use to buy crypto is the range of cryptocurrencies and trading pairs available. Since different exchanges support varying digital assets, it’s important to choose a platform that accommodates the specific cryptocurrencies you intend to trade.
Additionally, assessing an exchange’s liquidity and trading volume is essential. Higher liquidity generally results in improved price stability and faster trade executions. Furthermore, it is prudent to examine the fees charged by the exchange, encompassing deposit, withdrawal, and trading fees. Comparing fee structures across different exchanges can help you identify the most cost-effective option that aligns with your trading style. With that said, here are some of the best exchanges on the market right now:
- Binance – The best cryptocurrency exchange overall
- KuCoin – The best exchange for altcoin trading
- Kraken – A centralized exchange with the best security
By diligently considering these factors, you can make an informed decision and select a cryptocurrency exchange that meets your requirements for security, variety, liquidity, and affordability.
How we choose the best cryptocurrencies to buy
At CoinCheckup, we provide real-time prices for over 22,000 cryptocurrencies, with the list growing by dozens each day. As you can imagine, making a selection of a dozen top cryptocurrencies to buy out of such an immense dataset can be difficult and will for sure lead to some projects that should be featured being omitted. To minimize the chance of that happening, we follow certain guidelines when trying to identify the best cryptocurrencies to invest in.
One of the most important factors for any cryptocurrency investment is the crypto asset’s availability, meaning how easy it is to buy and sell it across various cryptocurrency exchanges. We tend to stay away from assets that are not available on major exchanges and require complex procedures to obtain.
Another important metric for identifying whether a crypto project is worth covering its market cap. A high market cap means that the project has reached a certain level of adoption from users, making it less risky to invest in.
While this metric is mostly subjective, it is still an important metric on which we curate our selection. We won’t feature projects that we think are stagnating or have no real upside in the future.
Purpose and Use Case
We consider the purpose and use case of cryptocurrency, particularly in a real-world setting. Some cryptocurrencies focus on specific industries or applications, such as decentralized finance, gaming, or supply chain management.
Team and Development
The team and people involved in the project can tell you a lot about the potential of a particular cryptocurrency project. We examine the team’s experience, expertise, and track record and evaluate the development activity and updates to ensure the project is actively maintained and evolving.
The bottom line: What crypto to buy now?
The decision of which crypto to buy now is dependent on your own risk profile and investment goals. For some, investing in a crypto asset with a proven track record like Bitcoin is the only type of exposure to crypto they are willing to take on.
Meanwhile, those with a higher risk tolerance might see Bitcoin as too stable, looking instead toward newer and smaller projects that carry a higher degree of upside.
If you are looking for more investment ideas, check out our crypto price predictions section.