Best Cryptocurrencies for Beginners to Buy in 2023: CoinSwitch (2024)

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Taking that first step is always the hardest. We know that. We’ve all been there. That’s why we’re trying to make it a tad easier with this article. We can’t and won’t tell you what cryptos to buy. But we sure can nudge you in the right direction and equip you with the right information. Here’s hoping you find the coin that works well for you with our list of the best cryptos to buy for beginners in 2023.

Overview

Cryptocurrencies have taken over the financial world in the past few decades. These blockchain-based digital assets are growing and multiplying, and so is the interest in them. Cryptos are different from traditional investments and arguably the better ones. They offer more liquidity than physical assets like real estate. And they help decentralize finance with their open-source technology.

But there are many cryptos in the market today, and if you are new to the business, it can be rather confusing and overwhelming. Learning how to identify good cryptos can help you make the most of your money.

Best beginner cryptos to buy in 2023

If you’re looking for the best crypto to buy today, put your investment on hold. There are many good options, but the market changes every minute. Plus, no one crypto will work for everyone. Each crypto varies in terms of liquidity, use cases, demand, supply, etc. You need to learn to factor all these things in before making a choice.

Beginners may not do well with some cryptos because it takes time to understand their complex processes. Plus, we know that beginners are often less used to market volatility and may want to go for a safer option to start with. Factoring all that in, here is our list of some of the best cryptos to buy for beginners in 2023.

Bitcoin (BTC)

Bitcoin is the most popular and is considered one of the safest cryptos in the market today. It was launched in 2009 by a person or group that goes by the name of Satoshi Nakamoto. Today, Bitcoin has a market cap of over 350 billion. And it is the preferred choice of many crypto investors—especially beginners.

Also, the Bitcoin blockchain is well-structured, so those new to crypto should find it easier to understand its operations. Bitcoin runs a distributed ledger spread across thousands of computer networks. To add any data to the ledger needs verification, which is done by someone who establishes their credibility by showing proof of work. This helps to keep Bitcoin safe from fraud. Given all of this, it is a particularly well-suited crypto for beginners.

Ethereum (ETH)

Another crypto that is ideal for beginner investors is Ethereum. Like Bitcoin, Ethereum is a blockchain platform and cryptocurrency with a market cap of over $200 billion as of 9 February 2023. Ethereum is quite popular among investors and program developers due to its various applications. That makes it one of the best cryptos for long-term investment.

Ethereum, or ETH, has witnessed massive growth recently, and the blockchain has evolved a lot. Today, Ethereum comes with a high-security standard and greater energy efficiency.

Binance Coin (BNB)

BNB, or Binance Coin, is a rather suitable crypto for beginners. Binance, the parent company, launched this coin in 2017 primarily to pay fees on its trading platform. In recent years, Binance Coin has shown massive growth, crossing a market cap of $50 billion.

Additionally, today you can use the BNB to make payments, book any service and even exchange for other cryptos like ETH or BTC.

Solana (SOL)

Another great option for beginners looking to invest in a crypto is Solana. It has a set of mechanisms to verify transactions on the chain. It uses a combination of Proof-of-History and Proof-of-Stake.

This crypto comes with a market cap of over $8 billion. The native token SOL is mainly used to promote the DeFi projects and dApps.

Shiba Inu (SHIB)

Shiba Inu is what they call a memecoin. It rose to prominence recently. Being a memecoin, it is easy to understand and, therefore, ideal for people new to crypto investments.

In 2023, the Shiba Inu network will launch a layer-2 network, Shiabrium. This will help the network scale and become more secure.

Cardano (ADA)

Another crypto for beginners in this list is Cardano. Cardano first began to be noticed by the wider crypto community due to its unique Proof-of-Stake mechanism. Due to this mechanism of verifying transactions, Cardano is best known for reduced transaction time and energy use (compared to Bitcoin or Ethereum). It is now considered one of the more potent cryptos for investments.

Decentraland (MANA)

Decentraland is a virtual gaming platform. It allows users to create, develop, purchase, and sell land virtually. Users need Decentraland’s native token MANA to sell and purchase virtual land on the platform. With a clear use case and a devoted crypto community, Decentraland is a decent option for any new investor to consider.

Conclusion

Although crypto lacks regulation in many jurisdictions, it has increasingly become a significant investment option. But if you are new to crypto, you must select your coins wisely and on the basis of your financial goals. It’s best to start with some safer and more established options.

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