Top 12 Cryptocurrencies for Trading
Bitcoin dominates the headlines in discussions about cryptocurrencies, but there are numerous alternatives to consider when selecting the most suitable cryptocurrencies for trading. These alternatives, often referred to as "altcoins", are frequently overshadowed by Bitcoin. For those curious about the best cryptocurrency to trade in 2023, our top choice for investment in that year is presented below.
What is a crypto coin?
Crypto coins exist on blockchains, such as Bitcoin (BTC) on the Bitcoin blockchain, Ethereum (ETH) on the Ethereum blockchain, and Litecoin (LTC) on the Litecoin blockchain. These coins serve as a means of storing value and facilitating transactions, much like traditional currencies. They are commonly known as cryptocurrencies. The creation of crypto coins can occur through a Proof-of-Work (PoW) consensus mechanism or by earning them through a Proof-of-Stake.
What is cryptocurrency trading?
Cryptocurrency trading involves speculating on the price movements of cryptocurrencies through a contract for difference (CFD) trading account or buying and selling the actual coins on an exchange. CFD trading allows you to bet on the price changes of cryptocurrencies like Bitcoin (BTC) without owning the underlying coins.
With CFD trading, you can go long (buy) if you expect the cryptocurrency's value to rise or go short (sell) if you anticipate it will fall. Both options are leveraged, meaning you only need a small deposit, known as margin trading crypto, to gain exposure to the market. However, leveraging trading crypto can amplify both profits and losses since your gains or losses are based on the total size of your investment.
The Most Popular Cryptocurrencies for Trading on StormGain
There is an immense amount of profitable crypto trading pairs on StormGain. When registering on the free desktop or mobile app, you can trade with a leverage of 500x. Here is our top pick.
Bitcoin (BTC)
Market cap: $566,416,270,874
Circulating supply: 19,440,725 BTC
Bitcoin, the original and most well-known cryptocurrency, was created in 2009 and currently holds the highest market capitalisation. It is often referred to as "digital gold" and is favoured for its potential to store value and serve as a long-term investment with a history of steady growth. This is one of the best cryptos to invest in in 2023. As a widely accepted cryptocurrency, it is commonly used for various transactions, both online and in physical stores, making it the top choice for purchasing goods and services in the crypto world.
Ethereum (ETH)
Market cap: $224,306,603,515
Circulating supply: 120,668,938 ETH
Ethereum comes next on our list of the best cryptocurrencies to invest in 2023. Created in 2015, it quickly became the second-largest cryptocurrency. Unlike Bitcoin, Ethereum is a decentralised platform that enables the creation of smart contracts. These contracts run on Ethereum's blockchain and operate without the risk of fraud or third-party interference.
Smart contracts on Ethereum open up many possibilities, from gaming to financial applications. Additionally, Ethereum was the birthplace of NFTs (non-fungible tokens), which allow artists to create, sell and programme unique digital assets with various utilities, such as royalties and in-game purchases, using Ether. This has made Ethereum a versatile and popular choice for decentralised applications (DApps).
Ripple (XRP)
Market cap: $37,555,611,192
Circulating supply: 52,693,851,493 XRP
Ripple is another example of a cryptocurrency to invest in in 2023. XRP serves as the native token of Ripple, a payments network designed for banks and financial institutions. Operating on its own blockchain platform known as XRP Ledger, Ripple offers a fast and cost-effective solution for settling transactions. Due to its practical utility for financial institutions, some of the world's largest banks have embraced XRP for their operations.
Litecoin (LTC)
Market cap: $6,607,716,511
Circulating supply: 73,454,939 LTC
Created in 2011 as a lighter version of Bitcoin, Litecoin is a unique cryptocurrency with faster transaction times and improved storage efficiency. It serves as a 'testnet' for Bitcoin, enabling developers to experiment with new features before implementing them on the Bitcoin network. Being one of the older cryptocurrencies after Bitcoin, Litecoin boasts a large and supportive community of followers, making it one of the best cryptocurrencies to trade.
Oasis Network (ROSE)
Market cap: $284,905,261
Circulating supply: 5,725,718,533 ROSE
ROSE is next on the list of the best crypto to invest in in 2023. The Oasis Protocol relies on ROSE cryptocurrency to operate its scalable Layer-1 blockchain. It facilitates quick transactions and private smart contracts. Network security is ensured through staking ROSE tokens for validation and transaction fees, and participants are rewarded with 2.3 billion ROSE tokens.
Tether Gold (XAUt)
Market cap: $480,230,571
Circulating supply: 246,524 XAUT
Now, let's consider XAUt as the top cryptocurrency for trading. Tether Gold (XAUt) is a stablecoin backed by gold, with each token representing one troy ounce (31.1035 grams) of gold stored in a Swiss vault. Tether, the company behind USDT, issues it. Launched in January 2020, XAUt allows users to be exposed to gold without needing physical storage.
Polygon (MATIC)
Market cap: $6,668,032,896
Circulating supply: 9,319,469,069 MATIC
Polygon is a scalability solution designed for Ethereum, acting as a layer 2 solution to enhance scalability. A key aspect of Polygon is its implementation of "sidechains", independent chains that process transactions. By offloading some tasks from the Ethereum blockchain, Polygon improves its scalability.
Moreover, Polygon is developing stake mining, a feature that enables users to earn rewards by staking their tokens on the network. This incentivises participation and helps secure the network while offering users additional benefits for their contributions.
Pepe Coin (PEPE)
Market cap: $97,130
Circulating supply: 420,690,000,000,000 PEPE
Pepe Coin is an Ethereum-based token that gained sudden popularity, which led to increased gas fees paid to validators due to a high volume of transactions on the Ethereum network. This surge also sparked a wave of memecoins and caused congestion on the Bitcoin network using the BRC-20 token standard, which makes it possible to create and exchange fungible tokens through the Ordinals protocol. Despite Pepe Coin's relatively small size compared to BTC and other leading cryptocurrencies, its impact has been significant, creating a notable influence in crypto.
Bitcoin Cash (BCH)
Market cap: $4,732,803,229
Circulating supply: 19,460,169 BCH
Bitcoin Cash is a fork of Bitcoin, meaning it's a copy of Bitcoin with some modifications. The primary change is the block size, which is eight times larger on Bitcoin Cash, allowing for faster processing of more transactions per second. Additionally, Bitcoin Cash employs a different mining algorithm than Bitcoin, making it more accessible to miners without specialised equipment. This distinction enables broader participation in the mining process.
Cardano (ADA)
Market cap: $10,737,292,918
Circulating supply: 35,000,320,975 ADA
Let's consider one more top cryptocurrency for trading. Cardano is a smart contract platform founded in 2015 by Charles Hoskinson, one of Ethereum's co-founders. Its uniqueness lies in its utilisation of a proof-of-stake consensus algorithm instead of proof-of-work, resulting in a more energy-efficient blockchain protocol. Compared to Bitcoin's high energy consumption of about 110 Terawatt Hours per year, Cardano is approximately 1.6 million times more energy-efficient.
Dogecoin (DOGE)
Market cap: $10,853,486,305
Circulating supply: 140,347,776,384 DOGE
Dogecoin originated as a joke in 2013, inspired by the Doge meme featuring a Shiba Inu dog. Despite its humorous beginnings, it has evolved into one of the more popular cryptocurrencies. Its widespread appeal is mainly attributed to its affordability, making it accessible to many users. Dogecoin has earned a reputation as "a coin for the people" and has been actively used for charitable purposes, including fundraising to build water wells in Kenya.
Arbitrum (ARB)
Market cap: $1,499,886,890
Circulating supply: 1,275,000,000 ARB
Arbitrum, a trending Layer-2 Ethereum scaling blockchain project, recently introduced its native ARB token. After a two-year journey as an Ethereum scaling solution, similar to Optimism and Polygon, Arbitrum gained popularity without a native token. This is one of the best cryptocurrencies to invest in 2023.
Despite not having a native token, the network attracted numerous crypto projects and developers who launched their dApps using Ethereum-based assets for transactions. However, the Arbitrum team launched the ARB token to enhance the platform's capabilities, offering its users and community additional utilities.
How to register on the StormGain platform and start trading cryptocurrencies
Trading cryptocurrencies on StormGain is straightforward. This is one of the best cryptocurrency trading platforms for beginners and experts. After taking the following six steps, you can start buying, earning, trading and withdrawing cryptocurrencies in just a few minutes.
Step 1: Registration
To start cryptocurrency trading on StormGain, simply register with your e-mail address and a secure password. You can choose between the desktop version or the mobile app.
Step 2: Testing
Practice and improve your trading skills with our demo account. Get familiar with our platform and easily switch between the demo and real accounts using the toggle switch in your account.
Step 3: Adding Funds
Deposit funds with your bank account in just 5 minutes. Select the amount and cryptocurrency you want; it will be in your wallet once confirmed. Exchange it for USDT and start trading immediately.
Step 4: Exchanging Crypto
Exchange your cryptocurrencies at the lowest rates. Deposit your crypto asset or buy it using a bank card and exchange it with popular currencies.
Step 5: Trading
Start cryptocurrency trading with leverage of up to 500x. With leverage, your potential profit is multiplied. For example, with 10x leverage, a 3% increase in BTC price can yield a 30% profit.
Step 6: Using Free Trading Signals
Trade confidently with our free trading signals. Use Take Profit and Stop Loss orders and follow our signals for a comfortable and profitable trading experience on the crypto market.
Reasons to Invest in Crypto in 2023
The cryptocurrency market now offers over 12,000 options, which is double what was available in 2021 and a reflection of its rapid growth. Despite a significant price drop from the peak in November 2022, this creates new investment opportunities for portfolio diversification.
Investing in cryptocurrencies presents compelling reasons:
- The novelty of cryptos leads to potential and significant profits for early investors, as seen with Bitcoin's widespread adoption driving its price higher.
- Cryptocurrencies' decentralised nature and limited supply provide some protection against inflation, with safeguards in place to prevent excessive mining.
- Your investment contributes to project growth and development, building social proof and trust while expanding services and collaborations.
- Cryptocurrency holders have exclusive control through private keys, reducing external influences on their assets.
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Exchange BTC
Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.
Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.
FAQ
Which coin is best for trading in crypto?
People often purchase coins when prices are low and more affordable, but this approach needs to be corrected. Every individual must invest in cryptocurrencies after thoroughly examining the market capital. The choice of the best cryptocurrencies to trade depends on the coins' market cap.
Is it profitable to trade cryptocurrencies?
Even the most skilled traders cannot guarantee a profit. The market's unpredictability means that the best approach is to use a strategy that has been thoroughly tested and proven successful through backtesting or paper trading.
Which crypto is booming now?
Top cryptocurrencies for trading that are experiencing significant growth and are predicted to explode in 2023 include Ethereum (ETH) as the overall best choice, Ripple (XRP) with 10x growth potential, ApeCoin (APE) as a promising altcoin, and Binance Coin (BNB) among exchange-based coins.
Is it a good time to buy crypto?
Investing in crypto carries significant risks, including the potential loss of your entire investment. The prices of cryptocurrencies have experienced significant drops in 2022, so it's crucial to approach this investment cautiously.
