Top 10 Cryptocurrency

Top 10 Cryptocurrency - Some traders are looking for cryptocurrencies as potential currencies, here we present from two websites discussing Top 10 Cryptocurrency, here are the top 10 for 2023 according to various sources

Top 10 Cryptocurrency by analyticsinsight.net

Cryptocurrencies have been popularly growing day by day, not just simply buying and holding, but are going beyond that. 

Whether it be Bitcoin, Ethereum, or Ripple’s XRP, these top cryptocurrencies are being slowly accepted as payment on online ‘bridge’ services like shopping.io, which enables purchases from sites such as Amazon or eBay. 

Cryptocurrencies are based on blockchain technology, which is a cryptographically secured ledger of all the transactions that are conducted. 

For this reason, people are excited to invest in something that permits decentralized, trusted transactions even when not controlled by a bank or a country. And most Indians are also looking toward cryptos as a potential currency. 

But this is where the investors get confused, about what and where to invest. Here is the list of the top 10 cryptocurrencies that Indians can prefer to buy in 2023.

10. Bitcoin

Bitcoin is the most popular cryptocurrency in India. This is probably because it is the longest living cryptocurrency, valued the highest, along with a finite supply like gold. Proponents even call Bitcoin the ‘gold standard of cryptocurrencies.

9. Tether

Tether was brought into the world as the brainchild of individuals who felt that the cryptocurrency market was extremely unpredictable and agitating. As the premier stablecoin, the Tether is fixed to the US dollar and encounters fewer vacillations contrasted with bitcoin. This alone makes the cryptocurrency the best alternative for bitcoin. Launched in 2014, tether allows users to experience the blockchain network while also encrypting their investments against major price surges and falls.

8. Cardano

Cardano is a platform that is capable of running financial applications currently used every day by individuals, organizations, and governments from across the globe. Besides, the eco-friendly and transparent nature of Cardano makes it the perfect alternative for bitcoin. Cardano has also proved its potential as one of the best cryptocurrencies for Indian investors to buy in 2023.

7. Shiba Inu

The final entrant in the list is Shiba Inu. This meme-based cryptocurrency has overtaken its long-stood rival dogecoin in the past month with an 800% price gain. Although market experts are not sure about its fluctuations as SHIB was launched in 2020, its currency performance in the market has outperformed many top cryptocurrencies.

6. Dogecoin

Dogecoin is the first meme cryptocurrency that started with a joke that trended on the internet a long time back. After keeping a position of safety for some since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theatres. In addition, enormous names like Elon Musk and Mark Cuban prefer Dogecoin over other cryptocurrencies. A single tweet from them could make the DOGE price go berserk.

5. Ethereum

Another most valuable cryptocurrency in the world, the Ether token is based upon the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. Simply put, if today Bitcoin is gold, then Ether is silver. Ethereum introduced innovations to blockchain security and usage, with its ‘smart contracts’ becoming a platform for other applications.

4. Uniswap

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (Defi) tokens. An example of an automated market maker (AMM), Uniswap launched in November 2018 but has gained considerable popularity this year thanks to the Defi phenomenon and associated surge in token trading. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.

3. WazirX

It is a utility token that allows users to use it as an intermediary between currency trades wherever a direct ‘currency pair’ exchange isn’t available. It can supply up to one billion tokens. WRX is used in many transactions, such as deposits, withdrawals, rewards, and incentives. It is one of the best cryptocurrency exchanges in India. It can be one of the top 10 cryptocurrencies in India’s market by 2023.

2. Tron

Tron has a goal of decentralizing entertainment; its 100 billion tokens would be used by audiences to connect with content creators directly if it is music streaming videos. Direct transactions and distributed file sharing using blockchain are likely to make less expensive content that will have to buy Tron tokens. It is one of the best cryptocurrencies that Indians can invest in 2023.

1. Polygon

It was based on Ethereum smart contracts, MATIC tries to take us closer to a ‘cross chain’ platform. This permits the users to gain from the strengths of various blockchains and enables them to communicate with each other. This cryptocurrency is popular among investors who are hoping to add to the growth of decentralized finance such as borrowing and lending. It is one of the best cryptocurrencies to invest in in 2023.

Top 10 Cryptocurrency by forbes.com

10. Bitcoin (BTC) 

Market cap: $441 billion

Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Aug. 1, 2022, a single Bitcoin’s price was around $23,046. That’s growth of more than 4,500%.

9. Ethereum (ETH)

Market cap: $201 billion

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to the beginning of August 2022, its price went from about $11 to around $1,640, increasing around 14,800%.

8. Tether (USDT)

Market cap: $66 billion

Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.

7. U.S. Dollar Coin (USDC)

Market cap: $54 billion

Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

6. Binance Coin (BNB)

Market cap: $45 billion

Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.

BNB’s price in 2017 was just $0.10. By early August 2022, its price had risen to around $284, a gain of approximately 283,900%.

5. XRP (XRP)

Market cap: $18 billion

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of Aug. 1, 2022, its price reached $0.37, equal to a rise of 6,066%.

4. Binance USD (BUSD)

Market cap: $17 billion

Binance USD (BUSD) is a stablecoin that Paxos and Binance founded to create a cryptocurrency backed by the U.S. dollar. To maintain this value, Paxos holds an amount of U.S. dollars equal to the total supply of BUSD. As with other stablecoins, BUSD gives traders and crypto users the ability to engage in transactions with other crypto assets while minimizing the risk of volatility.

3. Cardano (ADA)

Market cap: $17 billion

Somewhat later to the crypto scene, Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.

Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of Aug. 1, 2022, its price was at $0.50. This is an increase of 2,400%.

2. Solana (SOL)

Market cap: $14 billion

Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solana’s native token, powers the platform.

When it launched in 2020, SOL’s price started at $0.77. By early August 2022, its price was around $41.55, a gain of nearly 5,300%.

1. Dogecoin (DOGE)

Market cap: $9 billion

Dogecoin was famously started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.

Dogecoin’s price in 2017 was $0.0002. By Aug. 1, 2022, its price was at $0.067, up 33,400%.