Capitalize on exploding tech industries and get in before everyone else, with the best altcoins 2023
NUMBER 1 MAY SOUND CRAZY AND NUMBER 4 IS WHAT AMAZON IS LOOKING FOR!
Top 5 cryptocurrency to invest in 2023
FACT-CHECK GUARANTEE (References): [Official whitepapers: 5 sources] [Official statistics: 8 sources] [Research study: 1 source] [Straight from the source: 1 source] [High-authority and trusted websites: 2 sources]
| By Richard Ahern — The cryptocurrency future is incredibly exciting!
More and more people are believing that cryptocurrency is the future of money, which is evidenced by the huge amount of funds that have poured into crypto in the last few years.
Indeed, the current cryptocurrency market cap sits at a whopping $2 trillion and it’s only just getting started!
We’re also in a technological boom, technology is getting better and better at a rapid rate with fascinating new industries popping up.
Many industries like virtual reality, electric cars, and the Internet of Things (IoT) are still in their infancy and many new crypto coins are being developed around them.
You don’t have much time!
With this boom in technology and with cryptocurrency still being new, now could be the absolute best time to invest and make a fortune before it’s too late!
Our financial and technology experts have done months of research to bring you the top 5 cryptocurrencies that you probably have never heard of but are likely to explode in popularity in the near future.
Let’s be honest…
The most popular cryptocurrencies like Bitcoin and Ether and even the newer proof of stake coins, such as Cardano, have arguably already had their day. They are perhaps a safer investment, but the market is saturated and overbought and therefore they are not the best crypto to invest in right now.
In this article, we are focussing on the top 5 unknown cryptocurrencies because they have the biggest growth potential and are piggybacking onto flourishing industries.
Many people are asking when will cryptocurrency replace money entirely?
Some experts believe that by 2025 cryptocurrency will take over the world, if that’s true, we don’t have much time left!
The future of crypto in the next 5 years is bright, but many altcoins (particularly weird cryptocurrency, looking at you Dogecoin) will ultimately fail and investors will lose everything.
Picking the right cryptocurrency is vital!
Finding the coin that is the future for cryptocurrency may seem like trying to find a needle in a haystack, but we’ve done the heavy lifting for you and found what we believe to be the future of crypto.
These top 5 altcoins and technologies could be the future of cryptocurrency and your key to financial prosperity.
Ready to get stuck in?
Let’s go!
1) Virtual reality crypto – Mana (Decentraland crypto)
Mana is the currency used in Decentraland, a 3D virtual reality platform that is powered on the Ethereum blockchain.
In the virtual world of Decentraland, the fungible tokens called Mana are what fuels the economy, and users trade and invest it in the game.
Crypto is the future, and the future world is likely to be, in part, virtual!
What makes Decentraland so interesting is that it allows users to buy virtual land.
It securely verifies the ownership of these digital properties on the Ethereum blockchain. Just like in the real world a deed to a house would verify ownership, in Decentraland, ownership is verified on the Ethereum blockchain.
A section of land in the game is called a parcel, each parcel measures 16m by 16m on the x and y Cartesian axes and there are a total of 90,000 properties in the virtual world.
Just like in the real world, each parcel of land is unique and has different characteristics that make it worth more or less than other pieces of land.
Once you own a piece of land you can then develop it to make money. Users develop properties such as art galleries, casinos, clubs, and games – all of which can be monetized to earn more Mana in the game.
Here’s the kicker:
You may be thinking this is one of those crazy crypto coins, but some of the real estate in the virtual world of Decentraland has sold for more than $100,000!
Mana can be sold on crypto exchanges in return for fiat currency or other crypto coins.
Providing mana coins hold a real-world value on crypto exchanges, then the money you make in the virtual world can be used to buy things in the real world. Incredible!
Investing in Mana, whether you play the game or not is a great way to capitalize on the recent boom in the virtual reality industry.
This is massive:
Virtual reality has only just started catching on with companies like Facebook investing heavily into it. Indeed, it’s been reported that almost 20% of all Facebook employees are working exclusively on virtual reality (VR) and augmented reality (AR).
If that’s not enough, companies such as Microsoft, Apple, and Google have all invested in the virtual reality space.
“Crypto is the future, and the future world is likely to be, in part, virtual!”
Whether this could be regarded as a bit sad, it’s likely that in years to come more people may interact in virtual reality than they do in real life and virtual land could be considered more valuable.
The future of virtual reality is extremely exciting, and many predict it will become the ‘next big thing’ in tech with the virtual reality, augmented reality, and mixed reality industry currently worth approximately $30.7 billion and forecasted to be worth almost $300 billion by 2024, a growth of almost 10x!
When it comes to a virtual reality cryptocurrency, MANA is the best cryptocurrency to invest in 2023 with a market cap of around $1.5 billion. MANA is miles ahead of other virtual reality cryptos, making it the obvious choice.
Getting in early could be a wise move and Mana is the dominating crypto coin in this space.
2) Digital advertising crypto - Basic Attention Token (BAT)
The Basic Attention Token (BAT) is one of the hottest alt coins that aims to piggyback onto the growing digital advertising market but with a focus on user privacy.
This has a lot of appeal because users are getting more aware of Big Tech using their data for advertisement and are looking for alternatives.
Digital advertising is the future, long gone are the days of TV and print advertisement leading the industry. Digital advertising is more effective and gives companies a far better return on investment because ads can be tailored and shown to people who are likely to be interested in the product.
Think about it…
You ignore a majority of adverts you see on television because they don’t interest you. With digital advertising, you can be shown adverts from companies you already shop at or shown ads from companies that are related to your interests. That’s better for everyone involved.
Of course, there’s a problem…
Digital advertising presents a problem because companies need to know a bit about you in order to advertise to you effectively, hence the privacy problem.
BAT aims to solve that problem using cryptocurrency.
BAT uses the secure Ethereum blockchain and runs on its own specialized web browser called Brave. Just download Brave and use it as your primary browser instead of Chrome or good old Internet Explorer (seriously, why are you still using this?).
The aim is for users to experience fewer ads when browsing the internet and be shown ads that are more relevant to their interests without breaching any privacy.
Here’s the best bit:
What makes BAT special is that it’s not created by just anyone, it’s created by the co-founder of the well-known Mozilla Firefox browser, Brendan Eich. As browsers go, Brave’s founder has a pretty impressive track record.
The whole ecosystem works on efficiently distributing funds, in BAT currency, to users, publishers, and advertisers.
There are users, publishers, and advertisers that use the platform. It’s designed so that users experience fewer ads, publishers will receive more revenue for their content, and advertisers will be able to better target the customers they want.
As the name suggests, it is all based on user attention, which is the user’s focused mental engagement on digital content. In other words, how long you spend reading or watching a piece of content determines whether that content is engaging.
This is great news for the internet…
For publishers, the more efficient their content is at holding a user’s attention, the more revenue in BAT they will earn. The advantage of this is that it should award publishers that produce legitimately good and informative content rather than clickbait.
Therefore users will enjoy a more positive user experience, only see ads that interest them, and know that their data is only stored on their own device, encrypted with blockchain technology, and therefore completely private.
The digital advertising industry is a goliath and is estimated to continue to grow rapidly. Some of the most valuable companies in the world such as Google and Facebook have grown so huge because of their dominance in digital advertising.
BAT allows users to gain back control of their data and gives the smaller companies a chance to get a piece of the digital advertising pie that is currently eaten by Big Tech.
With a strong founder behind the Brave browser, we would argue that BAT is the best crypto to capitalize on the expanding digital advertising industry.
Even if you don’t want to invest in BAT, using Brave as your browser of choice may be a smart move!
BAT is one of the alt coins with the most potential for the future.
3) Decentralized finance crypto - Mirror Protocol (MIR)
Mirror Protocol (MIR) is an Ethereum token that is unique in that it “allows the creation of fungible assets, that track the price of real-world assets”.
Mirror protocol allows trading in synthetic assets that mirror the price of real-world assets such as stocks and commodities.
The synthetic tokens allow investors to gain price exposure to real-world assets without actually owning the real thing. It allows investors to own and profit from assets that they otherwise might not have access to in the real world.
The synthetic assets on Mirror Protocol are called mAssets. To create (or mint) a mAsset you must first deposit collateral that is worth more than 150% of the current market value of the underlying. The mAssets can be traded 24/7 but can only be created during normal market hours for that real-world asset.
Think about it like this…
Think of Mirror Protocol as a trading platform. The platform receives price data on the assets via decentralized oracles which update every 30 seconds.
MIR is a fantastic new cryptocurrency to invest in, being the youngest crypto on this list with a launch date of December 2020. MIR quickly became one of the hottest decentralized finance (DeFi) projects with rapid growth from the get-go.
The synthetic assets can be traded for other synthetic assets or other cryptocurrencies such as Uniswap or Terraswap.
The purpose of Mirror Protocol is to give investors all over the world the opportunity to profit from the world’s markets. For example, traditional financial assets such as stocks, bonds, and commodities are often difficult to buy for populations in poorer developing nations such as Africa and Asia.
A noble mission…
The aim is to democratize investing by tokenizing everything from blue-chip stocks all the way to real estate.
MIR capitalizes on the boom in the investing and financial technology industry. Companies like Robin Hood that have allowed small investors to get access to the markets have exploded in popularity recently.
When the COVID-19 pandemic hit, a swath of new investors flooded the markets, according to a recent study by Charles Schwab. Much of the recent bull market in stocks is thought to be thanks to these retail investors.
Online trading will continue to see strong growth and Mirror Protocol allows more investors to gain access to the markets.
If you’re looking for the best new cryptocurrency that capitalizes on the growth in online trading, then Mirror Protocol and its native token MIR is the top cryptocurrency.
4) Internet of Things crypto (IoT) - VeChain (VET)
The Internet of Things (IoT) is an industry that is growing in leaps and bounds and it’s only just getting started.
If you’re looking for a cryptocurrency that capitalizes on the IoT then VeChain’s VET is the best digital currency to invest in.
VeChain and its utility token VET is a blockchain Internet of Things application for supply chain management.
VET is one of the most promising alt coins for businesses, it’s also one the of best unknown altcoins so far in 2023.
VeChain works by giving each physical product a unique identity through radio frequency identification, QR Codes, or near-field communication. Sensors are attached to the products that record information as they move along the supply chain. All that information is recorded and linked to the product’s unique identity.
Because this is blockchain technology, all the data is secure and cannot be changed, which eliminates the possibility of fraud.
It allows consumers to track every step of a product and verify that it is authentic.
VeChain has already scored some major partnerships, including BMW (using their VerifyCar app) and other car manufacturers.
VeChain chips are placed inside the vehicles and record information on maintenance, mileage, and everything else that has happened to the vehicle since it first hit the road.
With cars, this technology helps eliminate things like odometer fraud because the information can’t be tampered with.
How does crypto work for VeChain?
Blockchain technology requires multiple users to give consensus to a new block of information before it’s added to the blockchain, which makes fraudulent manipulation of data almost impossible.
VeChain technology can be applied to just about any product you can think of which will provide massive advantages to businesses and consumers alike. Companies such as Amazon could employ the technology to put an end to fraudulent sellers tricking buyers with fake knock-off goods.
This could be what you are looking for…
When investors talk about a potential Amazon cryptocurrency in the future, VeChain could be the top crypto of choice.
More and more people are turning to online shopping and the Covid pandemic was, unfortunately, the nail in the coffin for brick-and-mortar shops. In 2020, total e-commerce sales worldwide grew by 28% from $3.35 trillion in 2019 to $4.28 trillion in 2020.
The e-commerce industry will continue to dominate, by 2024 total spending is estimated to reach $6.39 trillion, and more consumers will want to track what they purchase and verify its authenticity, making VeChain the best crypto for the future of e-commerce.
VeChain could be one of the best alt coins for companies and consumers alike and is currently relatively unknown!
5) Cloud storage crypto - Filecoin (FIL)
Filecoin (FIL) is an upcoming cryptocurrency that aims to capitalize on the expanding industry of cloud storage.
Filecoin is a decentralized storage network that turns unused cloud storage into an algorithmic market. Unlike cloud storage from Amazon Web Services (AWS) or Cloudflare, which are centralized and controlled by the provider, decentralized storage systems allow users to be their own custodians of their data.
Filecoin connects customers and data storage providers from around the world and the network is governed by the community rather than a single company.
Users get paid in the native Filecoin currency (FIL) by selling their excess cloud storage. FIL, usually listed as simply Filecoin, can be purchased on many major cryptocurrency exchanges.
A blockchain mechanism is used to register the details of each transaction and is based on proof-of-replication and proof-of-spacetime.
Simply put:
Think of Filecoin a bit like Airbnb for computer storage, with Filecoin anyone can rent out their hard drive space just like they could a room on Airbnb.
Saving your data on someone else’s hard drive may sound risky but Filecoin first ‘shreds’ the data into pieces so no one can piece it back together other than Filecoin itself.
Filecoin is actually safer than conventional cloud storage!
“Think of Filecoin a bit like Airbnb for computer storage!”
Cloud storage companies like Dropbox have been hacked in the past because of their centralized location. Whereas Filecoin is decentralized, all the data is spread across the world at different locations meaning hackers have no single point of attack.
Filecoin is also capitalizing on the 5G industry, the greater connectivity and speed 5G provides allows Filecoin to connect to hard drives around the world quickly.
Accelerated by the pandemic with more companies going online, the cloud storage industry has exploded. The global cloud storage industry is expected to grow 23% in 2021 with users spending over $330 billion on public cloud services.
Other forecasts estimate that the cloud computing market will continue to grow at a rate of 17.5% per year.
Filecoin is already massive…
When it comes to a cloud storage crypto, we believe the best cryptocurrency is Filecoin with a whopping market capitalization of over $8.5 billion.
Filecoin is currently ranked number 20 in the world by market cap, making it the biggest crypto on this list and the best cryptocurrency to buy right now if you’re looking for more stability and more funding behind it.
The future for cryptocurrency - the bottom line
That brings us to our conclusion, we hope you’ve enjoyed this featured article and learned something new about cryptocurrency.
The world of cryptocurrency is constantly evolving with hundreds of new coins and networks being created ranging from the boring and pointless to weird crypto coins and all the way to downright crazy cryptocurrencies. Many of those will undoubtedly fail and get lost in the ether (excuse the pun), but one or two of those will be the future and turn early investors into overnight millionaires.
There are alt coins that will 100x in value, you just need to find them!
The cryptocurrencies we’ve discussed in this article were picked because they have positive fundamentals, serve real-world use and piggyback onto exploding industries.
These top 5 cryptocurrency coins we’ve talked about are the best cryptocurrency to invest in 2023 for long term perspectives. Focussing on the short term is a risky business because, considering the recent bull market in crypto, the market is overbought and is likely due for a short-term correction.
We’ve done the research and provided you with the information, what you do now is up to you. None of this constitutes as financial advice, always remember to consult with a professional financial advisor before making any investment decision.
The crypto market is extraordinarily exciting but also extremely volatile compared to other markets, meaning you could make millions or lose everything in the blink of an eye!
The safest way to invest in cryptocurrency is always through a reputable exchange and never put all your eggs in one basket, remember to diversify!
At the very least we hope you’ve learned something new and found this article interesting, if you decide to invest in any of these crypto coins, we wish you the best of luck and we have our fingers crossed for you!
Happy investing and here’s to the future!
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AUTHOR BIO
By Richard Ahern – LifeLine Media
Contact: [email protected]
Last Updated:
First Published:
References (Fact-check guarantee):
- Cryptocurrency market cap: https://coinmarketcap.com/ [Official statistic]
- Decentraland whitepaper: https://docs.decentraland.org/decentraland/whitepaper/ [Official whitepaper]
- Almost a fifth of Facebook employees are now working on VR and AR: https://www.theverge.com/2021/3/12/22326875/facebook-reality-labs-ar-vr-headcount-report [High-authority and trusted website] {Further reading}
- Augmented (AR), virtual reality (VR), and mixed reality (MR) market size worldwide from 2021 to 2024: https://www.statista.com/statistics/591181/global-augmented-virtual-reality-market-size/ [Official statistic]
- Virtual reality coins by market cap: https://cryptoslate.com/cryptos/virtual-reality/ [Official statistic]
- Basic Attention Token whitepaper: https://basicattentiontoken.org/static-assets/documents/BasicAttentionTokenWhitePaper-4.pdf [Official whitepaper]
- Digital advertising spending worldwide 2019-2024: https://www.statista.com/statistics/237974/online-advertising-spending-worldwide/ [Official statistic]
- Mirror Protocol whitepaper: https://mirror.finance/Mirror_Protocol_v2.pdf [Official whitepaper]
- The rise of the investor generation, Charles Schwab study: https://www.aboutschwab.com/generation-investor-study-2021 [Research study]
- Internet of things: https://en.wikipedia.org/wiki/Internet_of_things [High-authority and trusted website] {Further reading}
- VeChain whitepaper: https://www.vechain.org/whitepaper/ [Official whitepaper]
- How blockchain automotive solutions can help drivers: https://www.bmw.com/en/innovation/blockchain-automotive.html [Straight from the source]
- Retail e-commerce sales worldwide from 2014 to 2024: https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/ [Official statistic]
- Filecoin whitepaper: https://filecoin.io/filecoin.pdf [Official whitepaper]
- Gartner Forecasts Worldwide Public Cloud End-User Spending to Grow 23% in 2021: https://www.gartner.com/en/newsroom/press-releases/2021-04-21-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-grow-23-percent-in-2021 [Official statistic]
- Cloud Computing Market by Service Model: https://www.marketsandmarkets.com/Market-Reports/cloud-computing-market-234.html [Official statistic]
- Filecoin market cap: https://coinmarketcap.com/currencies/filecoin/ [Official statistic]
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