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You may want to rebuild your crypto portfolio or create a new one as the market gets closer to recovery after witnessing the downfalls of major Crypto institutions and Crypto winter. But how can you select the best cryptos to invest in for March 2023 amid a sea of more than 20,000 cryptocurrency coins? Moreover, how can you tell which cryptocurrencies are the best investments right now?
Don’t worry; we did some digging and created a list of the best Cryptos you can buy for the long-term and short-term in March 2023. So let’s check them out!
Best Cryptocurrency To Invest In March 2023
#1 Ethereum (ETH)
Ethereum remains at the top of the Defi game, with the most significant number of web3-based platforms, NFTs, and dApps hosted over its network. Moreover, it has the highest number of smart contracts ever created on any decentralized network and tops our list of best Cryptos to invest in 2023. Previously, Ethereum suffered from high gas fees and low transaction throughput; however, things turned out after the ETH 2.0 upgrade went live.
Ethereum seeks to combat its scalability issues via several L1 and L2 scaling solutions. Furthermore, post-ETH 2.0 upgrade, Ethereum transcended from the Proof-of-Work consensus to the Proof-of-Stake consensus mechanism. Ethereum is currently the largest altcoin and the number 2 Crypto.
#2 Chainlink (LINK)
Launched in 2017, ChainLink has seen considerable growth as a decentralized network allowing integration of off-chain data into smart contracts. Chainlink lets blockchain access real-world data via the use of decentralized oracles. The network finds use cases in a broad spectrum of industries ranging from insurance and securities to payments and supply chain management – particularly where proof of events and data stamps are needed.
With Defi and the web3 boom adding more fuel to the Crypto market, Chainlink can surely be considered one of the best Cryptos to invest in March 2023. Many conventional players in the data processing field today have adopted Chainlink. Data providers monetize their content by selling access to their data directly to the network. The layer-2 protocol also allows holders to earn staking rewards.
#3 Polkadot (DOT)
One of the top Cryptos in the list, Polkadot, was founded in 2016 as an open-source sharded multi-chain network enabling the cross-blockchain transfer of any type of data or asset type. Polkadot is paramount to the web3 internet and has been designed specifically to add the interoperability factor to the multi-chain world of web3. It is a layer-0 metaprotocol that operates on a network of layer-1 blockchains called parachains.
Five parachains were running simultaneously on the meta protocol in December when Pokadot’s price reached an all-time high. As more parachains are added to its relay chain, we can expect Polkadot to be a part of your investment portfolio in 2023, as the Crypto industry is on the path of recovery.
#4 UniSwap (UNI)
Uniswap is a Decentralized Exchange (DEX) based on the Ethereum network that lets investors effortlessly swap ERC-20 tokens. It is a token standard for Ethereum and includes some top altcoins, like Chainlink (LINK) and Shiba Inu (SHIB). Since the exchange is decentralized, there is no need for an intermediary to perform the trade.
By using “liquidity pools,” Uniswap eliminates the need for a traditional order book. Anyone can add their unused ERC-20 tokens to the liquidity pools of Uniswap and receive a yield in return. The returns will differ depending on the token, although they are typically higher than those traditional savings accounts offer. All these qualities make UniSwap the best Crypto to invest in short-term in 2023.
#5 Solana (SOL)
Solana is a blockchain platform founded in 2017 and intended to support decentralized applications (dApps). Solana is often known as an “Ethereum killer,” which processes many more transactions per second than Ethereum. However, in comparison to Ethereum, it also has reduced transaction fees.
Solana uses smart contracts, which are necessary for running cutting-edge applications like Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs). SOL is the name of the Crypto that operates on the Solana blockchain (SOL). Its cost has significantly increased since it was first introduced. However, you should consider investing in this project in March 2023, as its price has increased in the past and is likely to do so again in the near future.
#6 Cardano (ADA)
Cardano is a layer-1 protocol launched in 2017. ADA, Cardano’s native token, is one of the largest Cryptos by market capitalization. It provides high sustainability and security to decentralized systems and applications using state-of-the-art technologies. Furthermore, it aims to be the most environment-friendly and sustainable blockchain.
It uses a Proof-of-Stake (PoS) consensus, called Ouroboros, contrary to the energy-intensive Proof-of-Work (PoW) mechanism used by major Cryptos like Bitcoin.
#7 Sandbox (SAND)
Sandbox is one of the most well-known metaverse cryptos. The Sandbox, based on the Ethereum blockchain and has a DAO architecture, is a virtual environment similar to Decentraland.
The SAND virtual token, the Sandbox’s original currency, is shifted to Polygon’s layer 2 solutions, which are renowned for their quick processing times and lower transaction costs.
To put it simply, the Sandbox is a virtual space where users from all over the world can easily create, own, and sell their game experiences using the SAND Token on the Ethereum Blockchain. Players can create virtual assets in the form of Non-Fungible Tokens (NFTs), upload them to the market, and use them in games made by well-known creators. These all contribute to the fact that you can consider SAND as one of the best Crypto to invest in March 2023.
Conclusion
After witnessing the Crypto winter and the downfall of some of the significant Crypto institutions, we can finally observe that the crypto market is on the road to recovery. You can consider involving some Cryptos again in your investment portfolio.
In this blog, we have mentioned some exciting and promising Crypto projects you can consider investing in March 2023. But, before making any investment decision, do your own research, ALWAYS!
If you are looking for a safe, secure, and hassle-free trading platform, head to WazirX to enjoy a seamless and smooth trading experience.
Frequently Asked Questions
How Many Cryptocurrencies Are There?
There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.
Are Cryptocurrencies A Good Investment?
Cryptocurrency has the potential to make you extremely wealthy, and the potential to cause you to lose your money. Crypto assets, like any other investment, come with many risks and potential rewards. Fundamentally, cryptocurrency is an excellent investment, particularly if you want to gain direct exposure to the demand for digital currency.
Are Cryptocurrencies Legal In India?
In India, cryptocurrency is legal, and anyone can buy, sell, and trade it. Because India lacks a regulatory system to regulate its operations, it is presently uncontrolled. According to the Ministry of Corporate Affairs, companies must now document their crypto trading/investments inside the financial year.
Is Ethereum Safe To Invest?
The Bitcoin market is unquestionably more volatile than the stock market. This may not be the market for you if you are incredibly risk-averse. Ethereum, on the other hand, may be a terrific investment for you if you're a diamond-handed investor who won't lose sight of short-term losses. Ethereum is a relatively safe investment as it is also based on blockchain.
Which Cryptocurrency Is Best To Invest In 2021?
Many altcoins are flourishing to invest in. Some cryptocurrencies with great potential are Ether, Ripple, Tron, and more. Investors are trying to diversify their portfolios and are flocking to the leading cryptocurrencies. Many growing businesses are already accepting cryptocurrency as acceptable payment methods.
How Cryptocurrency Works?
Cryptocurrencies use cryptography technology to keep transactions and their units (tokens) secure. Cryptocurrency works via a technology called the blockchain. A blockchain is a decentralized technology that handles and records transactions across numerous computers. The security of this technology is part of its value.
What Are The Best Cryptocurrencies To Invest In?
The best cryptocurrencies to invest in would be the ones you study and analyze in detail. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and many altcoins such as Tron, Ripple, Litecoin, etc.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
Is Pi Cryptocurrency Safe?
Pi Network captured the crypto community’s interest even before it officially debuted. Its innovative mobile mining approach and user-friendly design simplify crypto adoption for a broader audience. Some users see this as a chance to get engaged in the crypto from the beginning and profit in the future, similar to how early Bitcoin adopters made huge profits by mining and keeping the coin. Other users have compared Pi to a worthless multi-level marketing (MLM) scheme.
How To Invest In Cryptocurrency In India?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is the process of verifying and adding transactions between users to the blockchain public ledger. Purchasing cryptocurrency in India is a straightforward procedure where investors simply participate by registering with a crypto exchange such as WazirX. After registering for an account, citizens can trade multiple cryptocurrencies, store cryptocurrency in wallets, and more.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
