From Bitcoin to Ethereum and Dogecoin to Litecoin, there are thousands of cryptocurrencies present in the crypto space. All while being relatively young in comparison to traditional asset classes such as equities and bonds. Despite being in its infancy stage, the popularity of crypto assets continues to generate widespread interest. New cryptocurrencies are being launched every day, making the crypto market more accessible to new investors.
If you are looking for new cryptocurrencies to invest in, we’ve listed the most promising ones below. But first, let’s look at why you need to invest in cryptocurrencies.
Why Should You Invest in Cryptocurrency?
Despite crypto’s murky reputation, the majority of investors believe that blockchain has the potential to be a new technological infrastructure that will one day have real-world value. Here are a few reasons to invest in cryptocurrency:
- Speculative Investing: Perhaps one of the most common reasons people invest in a crypto is to predict its price and hope its value increases in the future. Cryptocurrencies have witnessed a meteoric rise in value, and even though the ROI does not match the growth that occurred over the past few years, investors still believe that it is a growing space.
- The Inflation Hedge: Bitcoin is also known as “digital gold”, and investors have been putting money into it as a hedge for inflation for years. The reason it provides a hedge against inflation is because of its built-in scarcity. Once the number of Bitcoin coins in circulation reaches its 21 million hard cap, the minting of Bitcoin will stop. Because of fast mainstream adoption and a limited number of tokens, its value is projected to increase.
- Store of Value: While investing in Bitcoin can be a bit risky due to its volatile nature, there are coins called stablecoins that are designed—as the name implies—for stability. They are pegged to a fiat currency or other assets so they are pretty stable and investors use them as a store of value.
- Take Part in Decentralized Banking: Crypto enthusiasts vouch for crypto because of its decentralized ethos. In theory, a peer-to-peer permissionless banking system eliminates the need for an intermediary. This is perfect for onboarding a new generation of consumers into the digital economy.
- Participate in Future Technology And Infrastructure: As mentioned earlier, blockchain has the potential to offer real-world value in the future. Organizations are conducting research and development on Ethereum’s smart contract technology to scale this technology for widespread enterprise use. It can help organizations protect customer privacy, maintain and secure records, and handle sensitive information.
- Earn Passive Income: This reason is rather obvious, as buying and holding crypto can result in passive income. Investors can lend, stake, pool, and trade to earn interest and be a part of the overall crypto ecosystem.
With that being said, let’s look at some of the promising crypto projects of 2023.
Upcoming and Promising Cryptocurrencies in 2023
- Dash 2 Trade
- Battle Infinity (IBAT)
- Lucky Block (LBLOCK)
- Tamadoge (TAMA)
- Apecoin (APE)
- The Hideaways (HDWY)
- Balancer (BAL)
- Ankr (ANKR)
Now, let’s look at them in detail.
Dash 2 Trade
It is an emerging crypto analytics and social trading platform mostly focused on assisting traders and investors to look for the best trading opportunities. How are these signals produced? All thanks to a team of skilled traders on the D2T platform who use advanced technologies like machine learning and artificial intelligence to generate these Dash 2 Trade signals.
D2T has advanced tools such as on-chain metrics, automated trading, and a system to find new presales, making it one of the best new cryptocurrency releases of 2023. All the transactions on the platform will be done with D2T, the native token. After the launch of the project, there’s a high possibility that its tokens will be in high demand.
Battle Infinity (IBAT)
Battle Infinity (IBAT) is a decentralized, comprehensive gaming platform that aims to revolutionize the gaming industry. The project combines exciting P2E games with a rich virtual world. Currently, the project has six products in its ecosystem. One of those projects is the IBAT Premier League. It is the first decentralized, NFT-based fantasy sports game in the world.
IBAT is a Binance Smart Chain (BSC)-based token, and Battle Infinity’s team is working on getting the token listed on popular decentralized exchanges and platforms such as PankcakeSwap.
Lucky Block is an incredible cryptocurrency project that allows its participants to win big rewards in an NFT competition held weekly. This decentralized project is BSC-based.
Participants can compete in the weekly draw (held every Friday) by staking NFTs and win up to $50,000 in rewards, which are paid out in LBLOCK, the project's utility token. When LBLOCK started trading early this year, it rewarded its holders with instant 1,100 percent returns. After that, its value increased by 400 percent, which is why it could become the best new cryptocurrency in this space.
Calvaria is a P2E game where players compete with one another using cards of various characters and deploying intricate techniques. Once you beat your opponents, you earn rewards and upgrades.
The theme of the game is P2E card battles, including DAO, a store of NFTs, staking, scholarship options, and a bunch of mini-games. The project has already raised $78,618 for its first presale, and it is progressing toward completion. The native token of the project, RIA, is worth $0.3105 at the time of writing this article. Experts believe that this token is going to be worth a lot more in the future.
There are some meme coins in the crypto space that have performed better; such as Shiba Inu and Dogecoin, but still haven’t been able to serve any purpose. Tamadoge is an addition, bringing a completely new meaning to these meme coins in the crypto industry.
With Tamadoge, you can breed, raise, and battle virtual pets called “doges.” When you battle your pets with others, you receive TAMA tokens, and these pets can be used as NFTs as well. These tokens help investors/players play competitive games and earn money from the crypto-gaming ecosystem.
Tamadoge’s aggressive growth strategy worked, and it raised 19 million USDT after the presale began.
Read on: Where and how to buy tamadoge
Crypto pros are always on the lookout for new cryptocurrencies that can make them some money. IMPT is one of them, as it has an intriguing concept. This eco-friendly project focuses on selling carbon credits in an attempt to reduce the carbon footprints of the power-hungry crypto industry.
IMPT places carbon credits on the blockchain network as NFTs, making them easier to get. Currently, the first phase of the IMPT presale offers 600 million tokens, and just a few weeks after its launch, the project successfully raised over $7.6 million.
The Hideaways (HDWY)
The Hideaways offers a revolutionary approach to luxury property investing by enabling users to buy fractionalized NFTs in an organized portfolio. Each and every fraction is depicted by an NFT supported by an asset and minted by the project. This means that the minimum value of the NFT is equal to the property in the real world.
By connecting NFTs to physical property, holders can take advantage of the increase in the property’s value. Investors also receive approximately 20 percent APY from rental income from their property, which is a great way to earn passive income.
This Ethereum-based blockchain plans to incentivize distributed computer networks to make it easier for users to buy and sell cryptocurrency. We can also refer to Balancer as a decentralized finance (DeFi) protocol that cuts out the middleman while making trades.
Users are handsomely compensated with BAL, its native token, for contributing liquidity to Balancer pools. It also offers yield farming to its users, and depositing the tokens in the pool with less demand reduces price slippage. This in turn helps yield farmers benefit from exotic pairings to create more income.
Ankr is the newest edition to the list of new cryptocurrency releases in 2023 because of its innovative take on interoperability. Ankr is not just a blockchain network; it is a platform for dApp developers in several niches, such as NFTs and DeFi.
It is a decentralized blockchain infrastructure provider that governs a host of nodes distributed globally over 50 proof-of-stake networks. Ankr also allows developers to configure their own nodes, which are remotely accessible. This streamlines the node setup process dramatically. Moreover, Ankr Earn makes liquid staking, staking, and other yield farming easy for crypto investors.
Cryptocurrencies have become household names in the past few years, but finding new cryptocurrencies that are profitable can be a mammoth task. This is why we made this list of new cryptocurrencies that you can invest in. We hope this list helps you make an informed decision.