Best Altcoins to Buy in 2023 – Top 7 Altcoin Investments
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Altcoins – which is any crypto asset other than Bitcoin, now represent over 20,000 blockchain projects. Therefore, knowing which altcoin to buy for investment purposes can be challenging.
In this market insight, we discuss the 7 best altcoins to consider buying today.
Table of Contents
List of the Best Altcoins to Buy
Below is a list of the 7 best altcoins to buy today for investment long-term investment purposes, including Meme Kombat:
- Battle Infinity – Overall Best Altcoin to Buy
- Lucky Block – NFT Competition Platform With Up-And-Coming Altcoin Token
- XRP – Interbank Transfer Technology Altcoin Forming a Bridge of Liquidity
- Ethereum – Largest Altcoin by Market Cap
- Uniswap – Leading Decentralized Exchange
- Cosmos – The Internet of Blockchains
- BNB – Altcoin Fueling the Binance Ecosystem
Top 7 Best Altcoins to Buy – Detailed Analysis
As noted, there are more than 20,000 altcoins in the market – all of which can be bought and sold for speculative purposes just like Bitcoin Minetrix. Therefore, this makes it both a cumbersome and challenging task to know which altcoins to invest in.
In the sections below, we help clear the mist by analyzing the 7 best altcoins in the market right.
1. Battle Infinity – Overall Best Altcoin to Buy
The number one altcoin to buy today is Battle Infinity – which is currently engaged in its presale token launch. Battle Infinity is creating an entire ecosystem that is centered around the metaverse. Within the Battle Infinity metaverse, players will be able to access a magnitude of gaming titles. At the forefront of this is the IBAT Premier League.
In its most basic form, the IBAT Premier League is a game based on fantasy sports. Players will first need to choose their favorite sport – such as cricket or soccer. Then, the player will need to compile a team that represents their favorite athletes. For example, if opting for soccer, the user would be required to choose 11 players. After the team has been created, the player will earn points based on how each individual athlete performs in the real world.
This Battle Infinity product is essentially a play-to-earn game, not least because rewards are distributed in the project’s native token – IBAT. The Battle Infinity ecosystem will also support NFTs. When players earn, collect, or even buy an NFT, this will represent an in-game asset. As a result, Battle Infinity players will own any in-game items that they receive.
There will be a marketplace within the Battle Infinity ecosystem, which means that players can buy or sell NFTs at the click of a button. Players will also be able to sell the IBAT tokens that they earn via the Battle Infinity decentralized exchange (DEX). All in all, this broad and diversified metaverse ecosystem means that Battle Infinity could be one of the best altcoins to buy right now.
To take part in the IBAT presale, head over to the Battle Infinity website. This is also where investors can read the Battle Infinity whitepaper. Those interested in the project might also consider joining the Battle Infinity Telegram channel. Either way, the IBAT presale is denominated in BNB. There is a 0.1 BNB minimum per investment, and a maximum of 500 BNB.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Lucky Block – NFT Competition Platform With Up-And-Coming Altcoin Token
Lucky Block also represents one of the best crypto presales right now. Just like Battle Infinity, Lucky Block is a new crypto project that was founded in 2022. Its core business model centers on NFT competitions. That is to say, Lucky Block users will first be required to purchase a specialist NFT that is linked to a specific prize. For example, those that wish to win $1 million worth of Bitcoin would need to buy the BTC1M NFT.
In doing so, the NFT holder would be entitled to earn rewards. Once the competition NFT series has sold out, Lucky Block will then initiate the draw – whereby one lucky winner would receive $1 million worth of BTC tokens. There are many other competition prizes up for grabs at Lucky Block, including a Lamborghini, Bored Ape Yacht Club NFT, and a 5-star holiday.
In terms of its underlying token – LBLOCK was launched in January 2022 via a presale campaign that finished 10 days early due to excess demand. During the presale, LBLOCK was available to buy at just $0.00015. Within a month, LBLOCK not only hit highs of $0.009 – but it surpassed a market capitalization of $1 billion. Crucially, the LBLOCK token will run hand-in-hand with the platform’s NFT competitions.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
3. XRP – Interbank Transfer Technology Altcoin Forming a Bridge of Liquidity
Those in the market for an established project might consider XRP, which is one of the best altcoins to invest in for this purpose. XRP and its parent company Ripple were first founded in 2012. Fast forward to 2022 and the project has since partnered with more than 200 banks and financial institutions – including the likes of Bank of America and Santander.
In a nutshell, Ripple enables financial institutions to perform cross-border transactions both efficiently and cost-effectively. In fact, when transferring funds via the Ripple network, fees amount to a very small fraction of a cent. Moreover, regardless of which currencies are involved in the transfer – or where the sender/receiver is located, transactions are typically confirmed within a few seconds.
It is also notable that the Ripple blockchain protocol can handle up to 1,500 transactions per second. XRP itself, which is the native token of the Ripple ecosystem, provides banks and financial institutions with transaction liquidity. This avails the need to go through corresponding banks and third parties when utilizing emerging currencies that lack volume.
Read More: Learn how to invest in XRP via our beginner’s guide.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
4. Ethereum – Largest Altcoin by Market Cap
The largest altcoin in the cryptocurrency arena in terms of market capitalization is Ethereum. This altcoin was launched in 2015 and has since gone on to become a trusted ecosystem within the blockchain sector. In fact, Ethereum is by far the largest constituent when it comes to smart contract technology. Thousands of ERC-20 are built on top of the Ethereum blockchain – which is inclusive of leading metaverse projects like the Sandbox and Decentraland.
Moreover, Ethereum hosts a significant number of Dapps and DEXs, with the latter including Uniswap and SushiSwap. One of the most attractive aspects of this project is that when ERC-20 tokens perform a transaction, the respective fee must be paid in Ethereum. As a result, this ensures that the Ethereum token remains in high demand.
Ethereum is also catching the eye of prospective investors due to its impending network upgrade, where it will transition over to a Proof-of-Stake (PoS) consensus mechanism. This will enable Ethereum to perform up to 100,000 transactions per second – a major improvement from the 16 it can currently handle right now. Furthermore, Ethereum 2.0 will also support much cheaper transactions and faster confirmation times.
Read More: Learn how to invest in Ethereum via our beginner’s guide.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
5. Uniswap – Leading Decentralized Exchange
Uniswap is a leading DEX that was built on top of the Ethereum blockchain. Its core product is the automated market maker (AMM) model. This removes the need to utilize traditional order books when exchanging cryptocurrencies. Instead, the AMM model at Uniswap enables users to buy and sell tokens without requiring a third party.
As a result, neither the buyer nor seller is required to reveal their identity when trading on the Uniswap DEX. IN addition to exchange services, Uniswap also enables users to generate a yield on their idle tokens. Once again, this can be achieved in an anonymous manner. Uniswap notes that it has since facilitated over 103 million trades, which equates to a volume of more than a trillion dollars.
The governance token of the Uniswap ecosystem is UNI. By holding UNI, this enables users to vote on core proposals regarding the Uniswap exchange. This decentralized autonomous organization (DAO) system now consists of over 310,000 members – as per CoinMarketCap. Furthermore, UNI trades on public exchanges, which means that its value will rise and fall as per market forces.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
6. Cosmos – The Internet of Blockchains
Cosmos refers to itself as the ‘Internet of Blockchains’ – and for good reason. In a nutshell, the Cosmos ecosystem enables competing blockchains – for example, Ethereum and Solana, to communicate. This takes blockchain technology to the next generation, not least because previously, there was no solid way for different networks to share data without going through a third party.
But, with Cosmos, the underlying technology solves this issue through decentralization. As of writing, more than 312 apps and services are using the Cosmos protocol. This translates into more than $53 million worth of assets under management – as per the Cosmos website.
Like all blockchain projects, Cosmos is backed by its own native token – ATOM. Investors can buy ATOM and stake it to earn a passive income. The ATOM token also trades on public exchanges and in theory, its valuation is determined by how successful Cosmos is in achieving its goals.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
7. BNB – Altcoin Fueling the Binance Ecosystem
The final project to consider from our list of the best altcoins is BNB. This digital asset is a large-cap altcoin that fuels the Binance ecosystem. The Binance crypto exchange – which is the largest in this market for daily trading volumes, offers a 25% discount to users when storing BNB. Not only that, but BNB also backs the Binance Smart Chain (BSc)
BSc is a growing blockchain network that enables up-and-coming crypto projects to build and launch their own token. Transaction fees on the BSc network are considerably cheaper than Ethereum, not to mention faster and more scalable. Just like Ethereum and its ERC-20 division, all transactions that are sent through the BSc network must be paid for in BNB.
Moreover, tokens on the BSc network are paid with BNB, so again, this ensures that the altcoin remains in high demand. BNB was launched in the same year that the Binance exchange was brought to the public – 2017. Back then, CoinMarketCap states that BNB was trading at just $0.11. In late 2021, BNB hit an all-time high of $669. This means that in approximately four years of trading, early BNB investors saw gains of 600,000%.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
What are Altcoins?
According to the data aggregation website CoinMarketCap, there are more than 20,000 cryptocurrencies in circulation. Each and every one – apart from Bitcoin, is referred to as an altcoin. In other words, any crypto token that isn’t Bitcoin is defined as an ‘alternative’ coin.
The vast majority of altcoins in this marketplace come from one of two blockchain networks – Ethereum or Binance Smart Chain. Altcoins that are built on top of the Ethereum blockchain are known as ERC-20 tokens. Some of the most popular ERC-20 tokens include Uniswap, Shiba Inu, Decentraland, and the Sandbox.
When it comes to tokens built on top of the Binance Smart Chain, these are known as BSc tokens. Examples include Battle Infinity and Lucky Block, both of which could be considered two of the best altcoins to buy in 2022.
Just like Bitcoin, altcoins are built on top of blockchain technology and trade on public exchanges. The latter ensures that the altcoin has value, which is determined based on demand and supply in the market.
Should I Buy Altcoins?
By purchasing an altcoin, this will see the investor gain exposure to the cryptocurrency markets, without needing to buy Bitcoin. But, that begs the question – are altcoins a good investment?
All cryptocurrencies are volatile and speculative, so the investor will need to perform plenty of research before parting with any capital. Below, we explore altcoins from an investment perspective to assess whether this niche market represents a viable addition to a portfolio.
Invest in Innovative Concepts
Bitcoin is without a doubt the leading cryptocurrency in all areas – whether that’s in terms of market capitalization, mass awareness, or adoption. However, Bitcoin was created with the objective of revolutionizing the global payments system through secure, fast, and cheap transactions.
With that said, Bitcoin transactions take 10 minutes to process and are far from cheap – which is why the cryptocurrency is now viewed as a store of value.
Nonetheless, the key point is that altcoins offer an alternative to Bitcoin. In fact, some of the best altcoins in this space enable investors to gain exposure to innovative concepts.
- For example, we mentioned earlier that Battle Infinity is looking to take fantasy sports games to the very next level via NFTs and a metaverse ecosystem.
- Lucky Block is also innovating through its decentralized NFT competition platform.
- In another example, Cosmos is solving the ongoing issue of blockchain interoperability and XRP is paving the way for banks to perform efficient and cost-effective cross-border payments.
On the flip side, investors should remember that not all altcoins are worth considering. After all, many altcoins in this space – namely Dogecoin and Shiba Inu, are arguably nothing more than meme projects built on hype.
Build a Diversified Portfolio
By investing solely in Bitcoin, means that the investor will be overexposed to just one cryptocurrency. In comparison, there are more than 20,000 altcoins from a wide variety of markets and concepts, so this ensures that the investor can create a diversified portfolio.
For example, those with an interest in the metaverse might consider the likes of Battle Infinity, Decentraland, and the Sandbox. To diversify into smart contracts, both Ethereum and Solana stand out. When it comes to decentralized exchanges, diversifying across DeFi Coin, Uniswap, and SushiSwap could work out well.
Either way, the key point here is that investors should never put all of their eggs into one basket. Instead, the smarter thing to do is to spread investment capital into multiple projects to help mitigate the risk.
Note: When buying established altcoins, XTB is the best platform for those looking to create a diversified portfolio. The reason for this is that XTB, lists more than altcoins and the minimum trade requirement is just $10.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
Many Altcoins Have Performed Better Than Bitcoin
On the one hand, Bitcoin is arguably the best-performing cryptocurrency of all time. After all, it was worth just a fraction of a cent when it was first launched in 2009 and has since gone on to hit highs of nearly $69,000. This translates into growth of millions of percentage points.
However, taking into account that Bitcoin previously surpassed a market capitalization of a trillion dollars, this does mean that the upside potential is going to be a lot more limited when compared to altcoins.
And therefore, many altcoins in recent years have outperformed Bitcoin. For example, after Lucky Block completed its presale campaign, the LBLOCK token went on to achieve peak gains of nearly 6,000%.
Opportunity to Build a Large Holding of Altcoins
Another reason why altcoins are attractive to cryptocurrency investors is that oftentimes, with just a small capital outlay, there is the opportunity to build a large holding of tokens.
The same cannot be said for Bitcoin, which at its peak, hit highs of nearly $69,000. This means that an investment of $100 into Bitcoin at this price point would yield 0.14% of a single BTC token.
In comparison, those looking to invest in the Battle Infinity presale can do so at a price point of just $0.0015. As a result, an investment of $100 would yield more than 66,666 IBAT tokens.
How to Find the Best Altcoins to Invest in
In the sections above, we explained some of the core reasons why altcoins are attractive to certain cryptocurrency investors. However, with so many options to choose from, knowing how to select the best altcoins to buy can be a challenging task.
And therefore, in the next section, we will explore some of the best ways that investors can achieve these goals via DIY research.
Project Goals
The first thing to look for when attempting to find the best altcoins to buy is the goals of the project.
For example, we mentioned that Battle Infinity is looking to revolutionize the global fantasy sports gaming scene by incorporating its ecosystem into the metaverse, alongside NFTs. This means that Battle Infinity not only has a solid long-term goal, but it can be achieved in a realistic manner.
Similarly, Cosmos has built technology that enables competing blockchains to communicate independently and subsequently share data without needing to go through a third party.
Crucially, the key point here is that when deciding on whether or not to invest in an altcoin, it is important to determine if it has an innovative business model that has the potential to revolutionize an outdated market.
Road Map
In addition to having a solid business model and achievable goals, the altcoin project should have a firm road map in place. This should outline each and every objective that the project aims to complete in order to achieve its long-term goals. Each objective should have a target completion date too.
As such, before buying an altcoin, investors should explore whether or not the project has thus far met its previous road map targets and if it is on course to do the same for future objectives.
Upside Potential
It goes without saying that the larger the market capitalization, the lower the upside potential. For example, we mentioned earlier that when Bitcoin previously hit an all-time high of $69,000, this translated into a market capitalization of over $1 trillion.
This means that in theory, the upside on Bitcoin is a lot more limited when compared to projects with a small valuation. For example, as of writing, CoinMarketCap notes that Lucky Block is carrying a market capitalization of just $41 million. This means that there is plenty of upside potential left on the table.
Number of Holders
A core metric that inexperienced investors often forget to check when searching for the best altcoins to buy is the number of existing token holders. This simply refers to the number of individual crypto wallets that are in possession of at least one token from the respective altcoin project.
Crucially, however, the more token holders that a project has – the greater the chance it has to perhaps one day make it big. After all, when a significant number of people are invested in a single project, this shows that the broader crypto community has faith in the altcoin.
Where to Buy Altcoins
Those wondering where to buy altcoins in a cost-effective and user-friendly manner might want to consider XTB.
Here’s why we found that XTB is the overall best place to invest in altcoins today:
XTB – Best Place to Invest in Altcoins
XTB is a market leader in the crypto brokerage scene, with the platform now serving over 25 million clients. In addition to crypto, XTB also lists thousands of traditional stocks and ETFs, as well as tradable markets on commodities, indices, and forex. When buying altcoins XTB, the minimum trade requirement is just $10. As we noted earlier, this enables investors to create a diversified portfolio of altcoins.
Moreover, US clients can get started with a verified account in less than five minutes and the minimum deposit is just $10. Other nationalities are welcome to join XTB too, but the minimum deposit is slightly higher at $50. Deposits made in US dollars across a bank wire, debit/credit card, or an e-wallet like Paypal will not attract any fees. Currencies other than the US dollar are charged an FX fee of just 0.5%.
In terms of supported altcoins, XTB lists dozens of tokens, and the trading commission amounts to just 1%. Investors can elect to buy altcoins via the XTB website or by downloading the mobile app for iOS/Android. Most importantly, XTB is regulated by several tier-one licensing bodies – including the SEC, FINRA, CySEC, ASIC, and FCA.
We also found that XTB is a popular option for those wishing to trade altcoins passively. This is because XTB offers several Smart Portfolios that track a basket of cryptocurrencies through a single trade. Each Smart Portfolio requires a minimum investment of $500 and it is regularly rebalanced by the XTB team. Moreover, there is also a Copy Trading feature at XTB, which enables users to mimic the positions of a seasoned crypto investor.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
How to Buy Battle Infinity – Step-by-Step Walkthrough on the IBAT Presale
During our extensive research process, Battle Infinity came out as the overall best altcoin to buy today. As noted earlier, its native token – IBAT, can be purchased at a preferential price via the presale launch.
Follow the steps below to buy IBAT via its presale dashboard.
Step 1: Get Metamask Wallet
Battle Infinity is building its ecosystem on top of the Binance Smart Chain, which means that users can buy IBAT via the presale in exchange for BNB. Therefore, the first step is to download a crypto wallet that supports the BSc network.
Many investors will opt for MetaMask, as it is used by millions of crypto investors of all skillsets. MetaMask can be downloaded free of charge via a browser extension or a mobile app for iOS and Android smartphones.
Step 2: Transfer BNB Over to MetaMask
Next, the investor will need to transfer BNB over to their MetaMask wallet.
To do this, the investor will first need to add the BSc network to MetaMask, as by default, it only supports Ethereum.
Click on ‘Add Network’ in the right corner of the MetaMask dashboard, and enter the information below into the correct empty field.
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
After confirming the above, the investor will need to copy their BSc wallet address from MetaMask. This can be found under ‘Account 1’ on the MetaMask dashboard.
Then, the investor will need to transfer BNB over to MetaMask by pasting the BSc wallet address that has been copied to the clipboard.
Note: Those without BNB can read our guide on how to buy Binance Coin here.
Step 3: Connect Wallet to IBAT Presale
Once the investor has BNB in their MetaMask wallet, they can then visit the Battle Infinity website. Click on the ‘Launch Presale Dashboard’ button, followed by ‘Connect Wallet’.
Select’ MetaMask’ and confirm.
Step 4: Buy IBAT
Now that MetaMask is connected to the Battle Infinity dashboard, the investor can specify their stake. This can be stated in BNB tokens. For example, if the investor types in ‘0.5 BNB’, the respective number of IBAT tokens will be updated.
After entering a stake, click on ‘Buy IBAT’ to complete the presale investment.
Conclusion
This comprehensive market insight has ranked the 7 best altcoins to consider adding to an investment portfolio today. In addition to Lucky Block, we like the look of XRP, Ethereum, and Cosmos.
However, the overall best altcoin in the market today is Battle Infinity – which is building a metaverse and NFT ecosystem alongside a fantasy sports gaming league.
It is now possible to buy the IBAT token in presale at an entry price of just $0.0015.
Cryptoassets are highly volatile unregulated investment products
FAQs
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