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If the 2022 cryptocurrency market was characterised by the sustained decline and depreciation of assets, the first half of this year has witnessed a steady, but ultimately marked, recovery.
If you look at the price of Bitcoin (BTC), for example, you can see that a single token was worth just $13,919.52 on December 23rd, 2022. However, it has risen to $23,682.47 at the time of writing, representing a near 50% increase in barely six months.
The crypto market cap has also peaked back above the one trillion mark at $1.17 trillion, with the value of first, second and third generation assets set to continue their recovery through the remainder of 2023 and beyond.
However, you’ll still need to tread carefully when trading crypto assets in 2023, so here are some tips to keep in mind and a look at the best tokens to invest in.
How to Trade Crypto Safely
Before we take a closer look at three of the best and most tradable crypto assets, let’s first consider how you can invest in and exchange tokens securely (and effectively) in the current climate:
- Research Exchanges Before Buying Crypto: The online realm is packed full of crypto exchanges where you can buy, sell and trade tokens, but not all of these are created equal. So, you’ll need to use independent platforms to compare exchanges across key metrics, ensuring that you ultimately stumble on a secure, reputable and highly accessible site. This is also an excellent way to identify the cheapest crypto exchange, without compromising on security or value.
- Pay Attention to Individual Tokens Too: In addition to finding the most secure and lowest fee crypto exchange, you should research the individual tokens that you intend to invest in. This includes their price history and the wider purpose behind the token’s blockchain, as this may add value and sustain more consistent pricing. We’d also recommend reading the crypto’s whitepaper, which can offer a telling insight into its premise and sustainability.
- Use a Secure Wallet to Store Your Crypto Wallet: Believe it or not, there are many different types of crypto wallet available, including corporeal, hard wallets (which often resemble USB sticks) to so-called “soft”, digital alternatives. The former are recommended when holding large quantities of crypto as part of a buy-and-hold strategy, while you should consider utilising an online wallet in instances where you adopt a speculative approach and regularly look to exchange or sell tokens.
OK, So What Are the Best Crypto Tokens to Trade in 2023?
Now, we’re going to take a closer look at the best crypto tokens for the purpose of trading in 2023. We’ve highlighted three below, while asking what sets them apart in the current marketplace!
#1. Bitcoin (BTC)
BTC remains the world’s largest first generation token by market cap and the poster boy for the crypto marketplace, despite its bear run in 2022 and propensity for volatile price shifts.
One of the main reasons for this is the broad range of applications that accept BTC, as this adds tangible value that can support the asset in austere climates. Similarly, the widespread accessibility and use of BTC makes it the single most liquid crypto token, which means that it’s relatively easy to buy and sell in real-time.
2023 won’t offer any kind of exception to this rule, with BTC likely to be particularly popular when you consider its relatively low live market value and its potential price ceiling. Certainly, it will continue to lead demand and trading volumes through 2023, while its volatility levels should remain low when compared to the wider market.
#2. Decentraland (MANA)
Next up is a third generation crypto, and one that has followed the modern trend for building layers of functionality and interactivity into its blockchain infrastructure.
In this case, Decentraland has evolved into a market leading metaverse ecosystem, which has itself been constructed on the longstanding Ethereum blockchain. The MANA ecosystem allows you to socialise with others as a user, while also offering access to a diversity of games (including iGaming pastimes).
You can even invest in virtual plots of land using the MANA token, creating a new and fascinating investment angle that’s not commonplace in the market.
MANA tokens are also significantly undervalued at present, with a price of $0.3728 less than half the asset’s peak valuation. So, there’s a considerable upside when investing in MANA, especially as the market recovers in 2023.
#3. Wall Street Memes ($WSM)
So-called “meme” coins remain all the rage in the crypto space, with the Wall Street Memes ($WSM) token arguably the market leader in this respect.
Make no mistake; this accessible token is one of the best performing meme cryptocurrencies in 2023, while it’s also faring well when compared to more established assets in the market.
$WSM tokens certainly offer a tremendous way to diversify your existing crypto portfolio, while the asset is also underpinned by an active community of users and an intriguing, legacy NFT project.
These factors only add to the asset’s strength and appeal, and this is unlikely to change anytime in 2023.
