We’ve finally arrived in 2023 and the crypto is still suffering a bear market, but investors are still looking for assets to put their money into and turn a profit. As with anything crypto-based, there are zero guarantees because of the market’s volatility. However, if you’re looking for cryptocurrencies with enormous potential, continue reading below.
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If you’re looking for a lesser-known crypto investment, stop what you’re doing and put some money into IOTA (MIOTA). This innovative project can revolutionize the way payments are made from IoT (internet of things) devices. IOTA is extremely unique because transaction validation isn’t completed using blockchain. Instead, it uses a unique decentralized acyclic graph consensus algorithm – known as Tangle. Simply put, IOTA isn’t bound by the sluggish constraints of blockchain validation.
Ethereum is considered the go-to blockchain for dApp (decentralized app) development, but that doesn’t mean it’s the best. Unfortunately, the popularity of Ethereum leads to network lags, high prices, and limited spaces. However, newer entries like Avalanche (AVAX) boast a higher capacity and an impressive 4500+ transactions per second (TSP). This is great news for developers, and its appeal grows even more when you factor in Avalanche’s compatibility with the Ethereum Virtual Machine (EVM).
There are countless blockchain-based payments out there, so why does Stellar (XLM) earn a place among the high-profit cryptocurrencies in 2023? Stellar is unique because its infrastructure is solid, offering 1000 TPPS, but it comes with an extremely low cost. Currently, you can make around 1.4 million transactions before hitting the $1 cost mark. This is something that can’t be achieved through local banks. A project like this would be fantastic for businesses to take on, especially if they’re looking to pay overseas workers.
If everything goes to plan, Alogrand (ALGO) has the potential to return over 200% profit through 2023. Like Avalanche, Alogrand is another fantastic smart contract blockchain, but this time focusing on Defi (decentralized finance) solutions. If you thought Avalanche’s TSP was impressive, feast your eyes on Alogrand’s 6000 TSP – taking place in a matter of seconds.
The Wider Blockchain Landscape
Countless more cryptocurrencies have the potential to bring high rewards, including the AMP, which is a collateral token used to prop up the Flexa network of apps. Elsewhere, there’s an impressive slate of NFT releases in 2023, which can be tracked using an NFT calendar. Although NFTs won’t bring in revenue on their own, there are many ways to leverage stagnant NFTs to bring in passive income. For example, you can increase your liquidity by offering your NFT as collateral for a crypto loan, which is paid back over a set period. You can find out more about ways to make money from NFTs by reading this article.
There are thousands of profit-potential crypto projects out there – those outlined above are only a simple starting point. Before investing in any blockchain asset, carry out proper research and make sure you can afford to lose your investment to the high volatility.