Top 10 altcoins to watch in 2023 and what makes them good
The blockchain-based finance keeps innovating with new technologies and systems to make cryptocurrency more fitting for global adoption. Bitcoin (BTC) is at the forefront of this endeavour while altcoins like Ethereum (ETH) and Ripple (XRP) thrive in their own respective industries.
Thousands more are in circulation and a handful of them have great potential for revenue in 2023. If you are looking for new prospects to invest in, then this is the guide for you. There are 10 particular digital assets that deserve your attention this year.
Polygon (MATIC) - Altcoin for inter-blockchain connectivity
The most valuable asset for investors is one that acts as a common resource required by multiple services. That is what Polygon (MATIC) is and it is bound to be more valuable in 2023. This altcoin is a Layer 2 scaling solution for Ethereum-based decentralised apps (dApps), making it a necessary component to the blockchain’s foreseen growth of its ecosystem.
MATIC is currently only valuable in the context of Ethereum and its dApps. It has limited uses as a mode of payment besides swaps and niche markets but it’s great for trading with ERC-20 tokens. Thus, you can profit from it through ETH’s popularity for when they’re used in playing Bitcasino slots.
Meta Masters Guild (MEMAG) - A gaming-focus altcoin
The play-to-earn (P2E) gaming concept is infamous for prioritising incentives over fun and Meta Masters Guild (MEMAG) aims to change that. It aims to promote the creation of games that are quick and replayable, eliminating tediousness that plagued older P2E titles.
Such efforts were challenged in the past because crypto is still an untapped market for the most part but 2023 is perfect thanks to advancements in Ethereum. P2E game development will revolve around the use of non-fungible tokens (NFTs) and MEMAG will be the central mode of payment connecting them.
Avalanche (AVAX) - A scalable platform for dApps
Ethereum works as the foundation for making dApps but its tools are incomplete. This is where Avalanche (AVAX) comes in and offers tools to build them as independent blockchains with abilities to interact with other networks. It’s great for making scalable and secure infrastructure for dApps and digital assets.
The development for dApps is consistently expanding Ethereum’s capabilities and functions, increasing its chances of reaching higher adoptions by attracting more users. Today, the network is integrated into various industries, including social media, entertainment, and software development. AVAX is vital to this effort and will have increased use cases for its holders.
Fight Out ($FGHT) - Altcoin earned through fitness
Many developers are looking to monetise almost every action known to man and Fight Out ($FGHT) is a project that does this for fitness. It introduces the Move-to-Earn (M2E) concept where exercise becomes profitable. Every positive action you take that is in-line with your workout plan rewards you with cryptocurrencies.
The $FGHT is a utility token for the Fight Out blockchain and associated app but it’s also usable as mode of payment within Ethereum. It has no other functions outside of the network but it’s volatile and can be traded for ETH which has more uses like for trading or playing Bitcasino live casino games. Therefore, you can earn money by working out, allowing you to be fit and wealthy at the same time.
Calvaria (RIA) - Altcoin for card games built using NFT
Game designers worldwide are challenged to develop a video game that can benefit greatly from artificial scarcity feature of NFTs. There have been a few ideas based on the concept of collectables and the most brilliant of which is card games. This is the kind of game Calvaria aims to be, a P2E game where opposing players build their decks from cards they get from boosters.
This kind of game is already popular worldwide with Magic: The Gathering as the top example. Titles like Hearthstone brought the experience to the digital platform but failed to emulate the former’s economy where players trade each other’s cards. NFT technology can bring that experience and RIA will be among the top currencies used for this ecosystem.
Algorand (ALGO) - High-performance blockchain for transactions
Cryptocurrencies have the advantage versus fiat when comparing security and reliability but they are typically seen as inferior in the matter of transaction speed. It just happens that Mastercard and Visa are amazing payment options that still keep fiat popular among users. That is going to change soon with Algorand (ALGO), a blockchain platform that is as scalable and fast as fiat payments but is completely decentralised.
ALGO is the network’s utility token, allowing users to send exact cash equivalents of what they wish to deposit from one wallet to another. It’s likely to grow more popular with Bitcoin’s and Ethereum’s growing acceptance rate as the potential new standard of payment for various services.
RobotEra ($TARO) - Altcoin for metaverse crypto project
The metaverse is a concept multiple companies are working on. Each has their own vision of what it can become but the general understanding is that it will be a virtual space where users can interact with each other and services. RobotEra ($TARO) is a game where you explore a space where everything is made of digital blocks that you can shape and reform to your liking.
RobotEra shows the most promise among most metaverse projects because it has a unique art direction and more concrete ideas. $TARO is the utility token introduced to become the game’s main mode of payment while also having interactivity with other Ethereum-based dApps. It is also available on exchanges and swap services for trading, making it easy to liquidate if you wish to claim revenue.
ImmoPet (IMPT) - Altcoin as payment method for top retailers
ImmoPet (IMPT) is a penny crypto (worth under a euro) because it is still under most trader’s radar right now having only ended presale on 11th December 2022. The developers already have plans to make it a mode of payment for up to 10,000 retailers, giving it a strong start in the digital asset economy. There are already a ton of top of the line companies on board with this crypto that will definitely hook traders later. Among the biggest of those companies include Microsoft, Samsung, Amazon, and Lego.
Litecoin (LTC) - Closest altcoin to Bitcoin
Most altcoins on this list are new, having only launched in 2022 or have major plans that will boost its momentum in 2023. Litecoin (LTC) on the other hand, is an already world-famous cryptocurrency that keeps up with the likes of Bitcoin and Ethereum. Its potential in 2023 is due to its direct influence with BTC’s market trends.
Unlike other altcoins mentioned above, LTC is a hard fork of Bitcoin with no plans of pursuing its own industry. It’s a mode of payment and store of value relying on volatility. Litecoin’s major advantage is its blockchain being a direct replica for Bitcoin. This makes it the testing grounds for new technologies crypto developers want to implement to a more valuable network. Thus, Litecoin gets upgraded sooner than its contemporaries. Developments in the crypto industry are rapid now with clearer vision of the future and what finance can be if decentralised.
Tamadoge (TAMA) - Parody P2E altcoin
Tamadoge (TAMA) is another penny crypto you can buy in bulk right now. It’s an altcoin based on the meme ‘Doge, the Shiba Inu’ just like Dogecoin (DOGE). The main difference is that it’s a P2E crypto from a game where you take care of NFT Tamadoge pets in an arcade-themed metaverse. Buy TAMA and use it to purchase in-game features that will help you buy or mint new NFTs which you can sell for TAMA or directly for Ethereum at the OpenSea.
Besides the fun gameplay mechanics, Tamadoge is also great for quick trading thanks to its charming artwork. Everything you get and collect can be sold as collectables that other players will love to have to complete their unique setups. The TAMA you earn while playing can be exchanged for ETH on markets and swaps so you can play Bitcasino live casino games using free money you earn from Tamadoge.
The world of altcoins is constantly evolving with new ideas proposed to widen its use or innovate on existing systems in hopes of improving its functionality. Investing in these cryptocurrencies not only puts you in an opportune position to profit from its growth but also become a contributor to its success.
There are hundreds more altcoins that show promise as digital assets but it’s better to focus on a few prospects at a time. The ones included as suggestions for investments on this list are chosen because of their high potential for growth and their supporter’s confidence in their success.
Although predictions about them are generally great, you should always take precautions on where you put your money. Always stay updated with the latest news to know when to double down, hold, or cash out. Another fun way to profit is to buy small amounts using spare change or Bitcasino slots winnings. This lets you grow your portfolio with minimal risk compared to buying in bulk using earnings from your other ventures.
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