New Year’s is a time for fresh starts, and what better way to start the year off right than by investing in cryptocurrencies? Cryptocurrencies are digital assets that use cryptography to secure their transactions and keep their prices stable. Since the rise of Bitcoin, hundreds of other cryptocurrencies have been created, each with its own unique features and uses.
Investing in cryptocurrencies can be a great way to make some extra money or even become wealthy overnight. So if you’re looking for a New Year’s resolution that could pay off big time, consider investing in cryptocurrencies. In this article, we highlight our top four choices for 2023.
Filecoin
Filecoin is a groundbreaking decentralized storage network that allows users to access data from any location on the planet. Its exceptional blockchain technology offers speed, security, and reliability, eliminating single points of failure in every transaction.
Filecoin’s native token, FIL, carries out all operations on the Filecoin network and is used to reward users. In early 2021, it reached an incredible peak price of $230—its highest ever. Unfortunately, since then, FIL has become one of the most affected crypto assets in this bear market period and suffered a price regression. But, no worries.
As demonstrated in 2021, Filecoin (FIL) can change its fortune and rally from a current market price of under $5 to significantly higher prices. As such, holders could see high returns if this cryptocurrency is closely monitored because it has the potential to positively influence your portfolio.
Ethereum
Ethereum is a blockchain-based platform for decentralized applications (dApps). It uses its own cryptocurrency to facilitate smart contracts and other functions. Unlike Bitcoin, which is a digital currency used primarily for online transactions, Ethereum is a platform for developers to build dApps. These applications enable businesses and individuals to interact directly with each other with no middlemen or centralized authorities.
Ethereum has its own programming language called Solidity which allows users to create custom smart contracts for their applications. It also provides tools for developers to debug their code and make sure that it works properly. Ethereum also provides a decentralized virtual machine called the Ethereum Virtual Machine (EVM) which allows users to execute their smart contracts.
Ethereum has become increasingly popular in recent years as more businesses have started using it for different purposes such as crowdfunding, supply chain management, and data storage. It is also being used by governments to facilitate digital voting and other government services.
Avalanche
Avalanche (AVAX) is a revolutionary blockchain platform that enables users to create and transact with digital assets in a secure, fast, and decentralized manner. With its groundbreaking consensus mechanism Avalanche, AVAX provides unprecedented scalability, speed, and security for enterprise-level distributed applications. The crypto asset carries out multiple functions, such as staking, ensuring network security, and fee payments. Additionally, it enables the connection of various subnets on the same system.
Avalanche (AVAX) is a crypto asset among the top 20 highest market capitalizations with an estimated $4+ billion valuation. In just 12 months, this cryptocurrency skyrocketed from a low of around $2 to its current all-time high of nearly $140. Although there has been some price depreciation recently, many analysts believe AVAX can experience another major surge in the coming months!
Axie Infinity
Axie Infinity is a platform that combines metaverse and Non-Fungible Token (NFT) utilization. As it continues to gain prominence, the AXS token serves as a form of governance in its thriving ecosystem. Investing in this crypto project could be an excellent way to build your wealth.
Last year, the crypto asset ended with a distinguished three-figure market price. However, its performance since the beginning of 2021 has been tumultuous. After having risen from an all-time low of $0.1 to an impressive high of around $165 within one year’s time frame, Axie Infinity (AXS) is now selling for under $10 in the markets. Analysts believe that AXS could soon be back on track and performing like it used to. If you adopt this digital asset at present you are likely to make some very lucrative profits before the fourth quarter of 2023.
Bottom Line
Cryptocurrencies are becoming increasingly popular every day, and for good reason. They offer a level of freedom and security that traditional ones don’t. With cryptocurrencies, you can buy things you want or need without having to worry about government regulations. You can also keep your money in cryptocurrencies without having to worry about it being stolen. Additionally, you can make money by investing in the cryptocurrencies mentioned in this article.
