Prominent cryptocurrency exchange MEXC Global recently unveiled the commencement of its latest Kickstarter campaign, which is designed to identify and support exceptional projects. The upcoming Kickstarter session will showcase FLUUS (FLUUS), a promising offering with a vision to revolutionize access to Web3 solutions. Participants in the campaign will have the opportunity to stake their MX tokens, vote for FLUUS, and stand a chance to win attractive airdrop rewards.

Founded in March 2022, FlUUS aims to transform the accessibility of Web3 solutions on a global scale. The platform offers a range of crypto solutions, including fiat/crypto pipelines in developing markets, through shared economy principles. Moreover, the project aims to simplify the digital onboarding process that can help bring more users to the crypto ecosystem by providing consumer-facing products that can help bridge the gap between traditional and Web3 user experiences.

A Closer Look at the Campaign

The voting period for the FLUUS Kickstarter campaign commenced on May 23, 2023, at 10:00 UTC and is set to conclude on May 24, 2023, at 09:50 UTC. Trading of FLUUS tokens began on May 24, 2023, at 12:00 UTC, while withdrawal of tokens can be initiated starting from May 25, 2023, at 12:00 UTC. To actively participate in the Kickstarter campaign and be eligible for free FLUUS tokens, users must stake MX tokens and meet specific requirements.

For registration eligibility, users are required to hold a minimum of 1,000 MX or more for 15 consecutive days before May 22, 2023, at 16:00 UTC. Users can deposit MX tokens into their Spot Wallet and participate in the voting period, which runs from May 23, 2023, at 10:00 UTC to May 24, 2023, at 09:50 UTC. 

Lastly, it bears mentioning that during the campaign, MEXC Global users are eligible to employ their MX tokens in lieu of voting rights, with voting being carried out by clicking on the following link. 

Abundant Rewards: Why Participate?

The FLUUS campaign features an enticing reward pool consisting of 1,200,000 FLUUS tokens and 20,000 USDT. Notably, the campaign sets FLUUS’ native token price at 0 USDT, with a reference price of $0.025. Participants are invited to commit a minimum of 1,000 MX tokens, with a maximum limit of 500,000 MX tokens.

The reward calculations prioritize successful commitments, ensuring participants’ MX tokens remain freely accessible throughout the campaign. Airdrop rewards will be distributed proportionally based on the total votes received by each participant once the campaign concludes. This approach fosters a fair distribution system, where individuals holding larger amounts of MX tokens can enjoy correspondingly higher airdrop rewards.

Moreover, successfully joining the FLUUS Kickstarter campaign grants participants eligibility to partake in other ongoing MEXC Global Kickstarter and Launchpad events. The allocation of rewards for these events is determined based on the users’ effective and committed MX amount. 

To calculate the user rewards, the following formula can be applied: User A’s rewards = (6,000 MX * 1.1) / 100,000,000 * 1,200,000 FLUUS. 

Offering User-Friendly Crypto Services to the Masses

MEXC Global, founded in 2018, is a digital asset trading platform that provides its users with a powerful trading engine as well as an advanced transaction matching module. The platform’s growing market clout is best showcased by the fact since its inception, MEXC Global has successfully served over 10 million users across 170 countries and regions.

Moreover, the exchange’s high-performance trading engine handles an impressive 1.4 million transactions per second while offering a vast network of cryptocurrency traders (>10 million) and other mainstream partners. Lastly, within just 12 months of its launch, MEXC was able to capture 5% of the global digital asset trading market. In fact, the platform won the “Best Crypto Exchange Asia” award at the 2021 Crypto Expo Dubai.

Thus, as the project continues to expand, its ultimate goal is to become the preferred choice for both novice crypto traders and experienced investors, providing unwavering support on their path to financial freedom.

Ethereum has become the second leading crypto, with great value and a high market cap. Its popularity is mainly due to two significant tech advancements: NFTs and the Metaverse. While the Ethereum price depends on the market supply and demand, other factors influence it, such as Bitcoin’s domination and the explosion of DeFi.

While investing in Ethereum may not turn you into a millionaire, buying and selling this asset can translate into profit opportunities. However, if you’ve decided to buy ethereum, you should first learn about the mistakes that crypto newbies make to avoid them and thrive as an investor.

Mistake No 1: Not Using a Reputable Exchange

There are many ways to buy Ethereum, and exchanges are one of the most popular options available. But you can also use online stock brokers or apps. However, it’s vital to remember that not all options are legitimate, so practice caution and look for a reputable platform known for offering customers a great experience. A crypto exchange is ideal if you want to purchase a small number of tokens because you can get the fraction you need from the asset. 

Suppose you don’t have enough cash in your account; you can buy 0,001 part of Ethereum, which only requires $10. If you aren’t sure whether the exchange is legitimate, it’s best to avoid using it because after buying the coins, it’s impossible to move them out. If you’re new to the crypto space, we recommend sticking to established exchanges that have been in business for several years, as this will ensure the safety of your coins. As a rule of thumb, you should look for an exchange that provides insurance and stores its crypto in cold storage.

Mistake No 2: Not Learning About Ethereum

You can’t invest in something you know nothing about, so before putting your money into Ethereum, make sure to research it first. This is something you should do regardless of the type of investment. The goal isn’t to become an expert in Ethereum, but you should at least understand how the cryptocurrency works and what features make it different from the other digital assets. Learning about Ethereum is especially important considering its volatile nature. 

This asset (just like any other cryptocurrency) has always experienced price fluctuations, and this isn’t likely to change, so it’s worth looking into its history. Once you understand Ethereum and its value, you won’t let trends or price movements impact your decisions.

Mistake No 3: Trying to Time the Market

Timing the market is the opposite strategy of buying and holding crypto: it means switching funds between different assets. Crypto markets are always open, running 24 hours a day, during all the times of the year – including public holidays. As a result, you can buy Ethereum within a specific window to get the best price; however, there’s a problem, namely that it is pretty much impossible to time the market. No one can guarantee how Ethereum will perform – its price may increase, and you may regret not buying it right now.

Or, the opposite could happen, and the price may drop considerably, allowing you to buy low – but this isn’t necessarily a favorable scenario, as you may second guess your decision out of fear that the price will get even lower. If you want to invest in Ethereum, adopting a long-term mindset is best. This will take the pressure off, as you will buy the crypto because you expect the price to rise in the future instead of hoping to get rich in just a few weeks.

Mistake No 3: Investing only in Ethereum

The thing about cryptocurrencies is that they are higher-risk assets, meaning that they can quickly change directions. In other words, there is always the possibility of losing your money. Now, volatility doesn’t pose any risks as long as the increase and decrease in price are steady. 

But if the price movements are extreme and unexpected, volatility can affect your investments. Therefore, you should avoid putting all your money in Ethereum. Instead, consider diversifying your crypto portfolio by including multiple assets. This strategy is efficient when it comes to reducing your risk exposure. A good recommendation is to allocate between 5%-10% of your portfolio for cryptocurrencies and reserve the rest for less volatile investments with longer track success records, like mutual funds.

Mistake No 4: Storing Your ETH in A Hot Wallet

Once you buy Ethereum, you’ll need a wallet to store your tokens safely. A crypto wallet is different from a normal one as it doesn’t hold coins; instead, it can be accessed through a private key. You can either use a hot or cold wallet; the main difference between them is that hot wallets are connected to the Internet, while cold wallets are not, making the latter more secure. Hot wallets can pose security issues, making your account a target for malicious actors who can steal your ETH. 

On the contrary, a cold wallet isn’t compromised because it often takes the form of a USB drive, and the tokens are stored offline. Suppose someone tries to access your crypto wallet; your device’s security features would make it difficult for them to succeed, locking them out after three attempts.

Is it worth buying Ethereum in 2023?

Ethereum is a well-established cryptocurrency with grand ambitions and incredible use cases. Bitcoin may be considered the king, but Ethereum gets all the merit regarding its superior technology and flexibility. This cryptocurrency is incredibly versatile, meaning you can use it for gaming, decentralized finance, or even as a blockchain solution for your business.

Whether you should buy Ethereum in 2023 depends on your risk tolerance and financial position. While this digital asset is promising, it’s important to remember that it is a volatile investment. So, this decision requires thoughtful consideration: you don’t want to jump straight into the crypto space without first thinking about some essential aspects. Some experts are optimistic about the future of Ethereum, believing its price could rise considerably this year. However, there are no guarantees, only speculations in the crypto market, so if you want to buy in Ethereum, the best thing you can do is to stay level-headed and not invest more than what you can afford to lose.

The uncertainty about the future of digital assets in the West has kickstarted discussions about where the next international home of cryptocurrency will be. Currently, the biggest innovators in the sector are still in the United States, but this is likely to change very shortly due to a host of persistent and direct attacks on the industry from regulatory bodies. There’s a potential multi-trillion-dollar market to unlock in the world of cryptocurrency. 

Unfortunately, it seems as though the United States is hellbent on driving innovative companies away, and there’s no shortage of countries looking to welcome these corporations with open arms. However, which countries will win the battle and unlock the colossal possibilities that lay ahead over the next ten or twenty years?

While the USA continues to tread water and organizations like the SEC fail to define the basics of what a cryptocurrency is and what a security is, entire countries like El Salvador are bringing it in as a legal currency, and some casino companies are beginning to accept it as a form of payment online. 

Digital assets, by design, are forward-thinking, innovative, and more convenient than traditional finance, so gambling using Bitcoin (BTC) is the next logical step for a lot of casino operators to continue making a profit. BTC poker operates in the same fashion as gambling with traditional currency. However, when you gamble using digital assets, you remove the need for a bank to oversee the transaction in the middle, and you don’t have to store your financial information on a server. 

Crypto gambling also prides itself on anonymity, so there are clear reasons why it is becoming one of the leading payment methods within the casino sector. However, this is the tip of the iceberg regarding the possibilities of crypto, and the countries we’ll be looking at today are well aware of this. 

Singapore

Despite its relatively small size compared to other Asian countries, Singapore has one of the wealthiest populations per capita, second only behind Luxembourg in recent statistics. Singapore’s financial regulatory authorities are well-equipped to provide a firm but fair atmosphere for investors and traders to innovate. 

This is across the broad world of finance, whether in crypto or centralized, traditional banking. By embracing the disruptive financial innovation of cryptocurrency instead of pretending it’ll just disappear into the ether, Singapore could be one of the countries that reap the rewards of providing clarity and security to some of these cryptocurrency companies, which could soon transform the world we live in. 

Hong Kong

Another Asian country that is looking to bring in the wealth and presence of some of the world’s most innovative blockchain companies is Hong Kong. While several companies have already stated they are weighing up the potential of operating their businesses out of Hong Kong, regulatory bodies have responded that although they are crypto-friendly, the regulation will be robust.

There seems to be a common misconception that cryptocurrency wants to operate in a regulation-free market. However, this isn’t the case; they want clarity to adjust their business models accordingly. Ripple in the United States has been looking for clarity for years and is now embroiled in a lengthy and costly legal dispute with the SEC. 

Their CEO, Brad Garlinghouse, has come out on record and stated that he now employs more overseas people than he does in the United States. So therefore, he wants to shift their entire operation away from the United States, irrespective of the court case outcome, and this is a real live case example of innovative cryptocurrency and blockchain companies being driven out of the world’s biggest economy in real-time. 

Hong Kong is streets ahead of the United States regarding embracing technology and providing suitable frameworks where these companies can operate, as are other countries like El Salvador, which could have easily been featured in this article today. 

United Arab Emirates

Arguably the most forward-thinking country in the world when it comes to digital assets and blockchain technology is the United Arab Emirates. In 2023, the government announced it would have a crypto and digital asset-free trade zone. Brad Garlinghouse of Ripple has already expressed a strong interest in moving his multi-billion-dollar company to the region due to their current rhetoric on cryptocurrency. 

In the coming years, you’d expect waves of innovative cryptocurrency companies to set up in UAE cities like Dubai and Abu Dhabi. Still, much of this depends on how long the US takes to regulate the industry properly and whether the regulations will choke the industry out or allow it enough flexibility to permeate our society for the greater good. 

If the United States brings in a set of fair and firm regulations, it could help fuel the American economy and innovation within the sector. Still, it’s a critically important time, and it could go either way.

Forecasting which is the next cryptocurrency to explode is always a daunting task, as it is very challenging to predict how the market will behave in the rest of 2023 and the further future. At the same time, the fact that a few projects have a much higher likelihood of performing exceptionally well compared to the rest remains almost undisputed.

Which is the next cryptocurrency to explode in 2023?

When trying to identify the next big crypto project and evaluating what crypto is going to explode next it is important to consider several factors. Most important are the project’s fundamentals, such as the technology it uses, its potential use cases as well as the team that stands behind it. However, one should not omit external factors such as regulation, market sentiment, and economic conditions from its analysis. 

Taking all these factors into account, we have compiled a list of the 10 most promising blockchain projects that have the potential to explode in 2023:

1. Aptos – A novel, highly scalable enterprise-grade layer 1 blockchain
2. Sui – A revolutionary scalable smart-contract-enabled blockchain
3. Filecoin – A decentralized blockchain-based file storage network
4. Solana – A fast and low-cost blockchain for decentralized apps and finance
5. Polygon – A leading layer 2 solution for faster and cheaper transactions
6. XRP – An ISO 20022-compliant remittance-focused cryptocurrency
7. Mina Protocol – A lightweight blockchain utilizing recursive zk-SNARKs
8. Rocket Pool – A sophisticated decentralized Ethereum staking platform
9. Cronos – A smart-contract-enabled blockchain environment by Crypto.com
10. Shiba Inu – The second most popular meme-inspired cryptocurrency

As you can see, our selection consists of several established market leaders that still have a large room to grow, mixed with a few promising newcomers, whose native cryptocurrencies could be the next in line to go on a bull run. In the remainder of the article, we will explore the reasoning behind each crypto’s placing on our list of the next cryptos to explode in 2023.

1. Aptos – A novel, highly scalable enterprise-grade layer 1 blockchain

Aptos is a highly innovative layer 1 blockchain that aims to revolutionize the internet by providing a seamless transition from Web2 to Web3. The blockchain was designed by former Meta employees who worked on the Diem stablecoin project (initially called the Libra project).

Aptos is a relatively new contender in the cryptocurrency space, as its mainnet was launched only in October 2022. Nevertheless, the novel blockchain outperforms Bitcoin, Ethereum, Avalanche, and even legacy payment processors such as Mastercard and Visa in terms of transaction processing capacity, as Aptos can process up to 100,000 transactions per second (TPS).

Why could Aptos be the next cryptocurrency to explode in 2023?

Aptos’ immense throughput and low latency are largely facilitated by the protocol’s ability to reach atomicity without upfront knowledge of the data. In addition, Aptos integrates innovative scaling solutions such as internal sharding of a validator and homogeneous state sharding. Finally, the blockchain features a modular design, which allows Aptos upgrades to be deployed frequently and without much hassle.

These are just some of the project’s impressive capabilities that make Aptos (APT) a highly promising new cryptocurrency. Combined with the ample financial support from some of the largest crypto investors, such as Binance Labs and Jump Crypto, that the project is receiving, Aptos might just become the next big thing in the cryptocurrency space.

2. Sui – A revolutionary scalable smart-contract-enabled blockchain

Sui is an emerging Layer 1 blockchain and smart contract platform that aims to make digital asset ownership fast, private, secure, and accessible to everyone. Similarly, to Aptos, the platform is based on the Move programming language. Sui enables parallel execution, sub-second finality, and the creation of rich on-chain assets. Due to the horizontal scalability of both processing power and storage, Sui will be able to support a wide range of applications at unrivaled speed and low cost.

Sui was founded by former executives and lead developers of Meta’s Novi Research. The project is currently in preparation for the Sui mainnet launch, which is scheduled for Q2 2023. Up until then, users can test the blockchain’s capabilities by participating in the Sui devnet or testnet.

Why could Sui be the next cryptocurrency to explode in 2023?

Once fully deployed, Sui will provide a platform, on which creators and developers could easily build user-friendly applications. At the same time, Sui aims to solve the common pain points of first-generation blockchains, such as scalability issues and lack of or at least very expensive on-chain storage. This revolutionary up-and-rising blockchain could turn out to be the next disruptive project in the crypto space and even dethrone the established smart blockchains.

In fact, SUI has already attracted a large number of cryptocurrency investors, who went on a spending spree as soon as SUI started trading on Binance. This caused SUI’s price to explode from its Launchpool price of just $0.10 to $1.84 just moments after the trading commenced. This indicates that at least part of the community may have already recognized SUI’s enormous potential.

3. Filecoin – A decentralized blockchain-based file storage network

Filecoin is a decentralized network that enables users to rent their unused hard drive space and receive FIL, the platform’s native cryptocurrency, in exchange. The project launched its highly anticipated mainnet on October 15, 2020, after having successfully raised $205 million through an ICO already back in 2017.

To ensure secure and accurate data storage, Filecoin uses a proof-of-replication consensus mechanism. By incentivizing users to offer storage space, the platform established a decentralized data storage network, which provides a more affordable and efficient data storage alternative to centralized cloud storage providers.

Why could Filecoin be the next cryptocurrency to explode in 2023?

With the growing adoption of decentralized protocols and the increased demand for Web3 solutions, the need for decentralized storage is expected to rise. As already mentioned, Filecoin offers a file storage solution that is not only more cost-effective but also more reliable compared to its centralized counterparts – the cloud storage providers.

These advantages position Filecoin as a big beneficiary of the transition to Web3 and a potential major player in the future of the crypto industry.

4. Solana – A fast and low-cost blockchain for decentralized apps and finance

Solana is a smart contract-enabled blockchain platform that prioritizes scalability. With an impressive throughput of 65,000 transactions per second and incredibly low transaction fees, Solana is viewed as a formidable competitor to Ethereum. It achieves such high efficiency through a novel proof–of-history consensus algorithm and timestamping system.

Consequently, Solana is highly sought after by a variety of non-fungible token (NFT) projects and decentralized finance application developers. Solana’s significant financial backing from major investors such as Polychain and Andreessen Horowitz ensures ample resources for the future development of its ecosystem, further cementing its appeal to blockchain developers.

Why could Solana be the next cryptocurrency to explode in 2023?

Solana is one of the top high-performance smart blockchains in the world that can cater to the needs of hundreds of DeFi, NFT, and other projects. Interestingly, SOL currently trades at around $20, far from its ATH of $260 achieved in November 2021, despite the concurrent growth in Solana adoption. This leaves SOL a lot of space for potentially fast price growth.

In addition, Solana is one of the most progressive blockchains when it comes to the integration of artificial intelligence (AI). The Solana developers recently integrated a special ChatGPT plug-in, which allows users to query on-chain data directly from ChatGPT. If Solana follows through on even more thorough AI integration, SOL could go a long way.

5. Polygon – A leading layer 2 solution for faster and cheaper transactions

Polygon, formerly known as Matic Network, is a leading layer 2 scaling solution for Ethereum that addresses the scalability limitations of the largest smart contract blockchain.

Polygon uses multiple proof-of-stake sidechains and regularly pushes data to Ethereum to create network checkpoints, which allows it to achieve higher speeds, significantly higher throughput and, most importantly, lower fees. As a result, Polygon has become an attractive platform for developers of decentralized apps and has established itself as a leading player in the DeFi sector.

Why could Polygon (MATIC) be the next cryptocurrency to explode in 2023?

Polygon has emerged as the top Ethereum layer 2 solutions over the past few years. In addition, the project offers a variety of payment, non-fungible token (NFT), and DeFi-focused solutions. What is more, the project has lately been especially successful at securing partnerships with major global corporations, such as Disney, Reddit, Nubank, and others. Assuming that Polygon maintains its strong momentum from 2022, which is likely, MATIC’s price could easily climb higher.

While some investors may be concerned that layer 2 solutions could become redundant as Ethereum’s scalability improves, Vitalik Buterin himself recently emphasized that they will continue to play a crucial part in the Ethereum ecosystem. To conclude, Polygon’s new partnerships, innovative features, and solutions to Ethereum’s scalability challenges are drawing attention from more and more established businesses, making Polygon a promising platform for future development and MATIC a potentially very lucrative investment.

6. XRP – An ISO 20022-compliant remittance-focused cryptocurrency

Ripple Network was launched in 2012 by Chris Larsen, Jed McCaleb, and Arthur Britto with an aim to facilitate fast and cost-effective cross-border payments and improve the traditional banking system. Ripple uses a unique Ripple Protocol consensus algorithm (RPCA) to validate transactions, which is not proof-of-work nor proof-of-stake but instead relies on a distributed agreement protocol to increase processing speed and efficiency. The Ripple Network is ISO 20022-compatible and, perhaps also due to this, well connected to the traditional payment systems.

The blockchain’s native cryptocurrency is XRP, whose total supply is fixed at 100 billion coins. At launch, 80% of the XRP supply was given to the fintech firm Opencoin, now known as Ripple Labs. Ripple Labs still holds over half of the total XRP supply. Coins are mostly locked in escrow wallets and a small portion of XRP is released each month.

Why could XRP be the next cryptocurrency to explode in 2023?

Ripple Labs, the issuer of XRP, has been engaged in a highly publicized legal battle with the U.S. Securities and Exchange Commission (SEC) ever since late 2020 over the purported unregistered sale of XRP tokens. The dragged-out court case is anticipated to be finally resolved in the first half of 2023. 

Should the XRP lawsuit come to an end with a favorable outcome, XRP will undoubtedly rally. What is more, several analysts believe that in this case, XRP could even revisit its all-time high (ATH) of $4 it reached in early 2018.

7. Mina Protocol – A lightweight blockchain utilizing recursive zk-SNARKs

Mina Protocol is a blockchain that prioritizes simplicity and accessibility. It is known for being the world’s lightest blockchain, with a network size of just 22 KB. The project was initially launched as Coda Protocol in 2017 but underwent a rebranding to Mina Protocol in October 2020.

Unlike other blockchains that grow in size as adoption and traffic increase, Mina’s size is designed to remain constant. This unique feature allows for easy access and low system requirements for users interacting with the blockchain. Despite its ultra-small size, Mina maintains a secure and decentralized network using zero-knowledge proofs technology also known as zk-SNARKs.

Why could Mina Protocol be the next cryptocurrency to explode in 2023?

Mina Protocol has actually already exploded soon following its launch in the period between July and September 2021, when it saw a surge of over 500%. Nevertheless, most of its gains were erased during the 2022 bear market. Once the market sentiment shifts again, Mina Protocol has the potential to recover a significant portion of its losses.

In addition, Mina’s size and low system requirements are the blockchain’s unique characteristics, which could come in handy if or when blockchain-based solutions break through to less-powerful electronic devices such as microchips on the Internet of Things (IoT).

8. Rocket Pool – A sophisticated decentralized Ethereum staking platform

Rocket Pool is a decentralized staking platform for Ethereum that enables users to participate in the staking process, even if they hold less than the required 32 ETH. With Rocket Pool, users can stake as little as 0.01 ETH. After staking ETH, users receive rETH, which is a tokenized staking deposit token. The amount of rETH on their account grows with time as staking rewards are also paid out in rETH. rETH can be swapped for ETH and vice versa at any given moment.

The protocol also allows users to offer staking node services to the pool. Node operators can reach higher returns by participating in Rocket Pool than by staking solo but are required to monitor and maintain smooth uninterrupted operation of their staking node. The governance token for the protocol’s DAO is RPL, which also serves as incentives and insurance for the value behind rETH in the event of penalties or slashing.

Why could Rocket Pool be the next cryptocurrency to explode in 2023?

With the increasing demand for generating passive income with ETH through staking, services like Lido and centralized solutions offered by several centralized exchanges have gained popularity among crypto investors. If this trend continues, Rocket Pool, one of the leading decentralized Ethereum staking platforms, is expected to emerge as one of the best-performing crypto assets in 2023.

9. Cronos – A smart-contract-enabled blockchain environment by Crypto.com

Cronos is the leading Ethereum Virtual Machine (EVM)-compatible layer 1 blockchain network built on the Cosmos SDK. The blockchain is developed by Crypto.com cryptocurrency exchange and is designed to seamlessly interact with Ethereum-native decentralized applications (dApps).

Cronos also aims to provide faster transactions and lower fees compared to the Ethereum mainnet. Cronos achieves this by utilizing a Proof of Authority consensus algorithm, which allows for faster block confirmations and higher throughput. Cronos’ native token is CRO. The token can be used for staking, governance, as a medium of exchange within the network, as well as to get benefits and discounts when using Crypto.com’s services.

Why could Cronos be the next cryptocurrency to explode in 2023?

Firstly, as an exchange-backed token, CRO price is not only related to the current traffic and use cases on the Cronos network but also to the benefits it can provide to Crypto.com users. Throughout the last few years, this has caused the CRO price to drop despite the Cronos ecosystem experiencing continued growth and expansion. As a result, CRO trades more than 93% below its ATH price today. This either means that CRO was overbought for the perks it provided in the past or that the token is significantly undervalued today. Whatever the case, CRO price could spike again if Crypto.com reintroduces some of the perks, which could happen in the next sustained bullish period.

In addition, the Cronos community has recently proposed to decrease CRO’s inflation rate by implementing a burning mechanism. According to the proposal, 15% of fees in each transaction would be transferred to a community pool and then periodically burned as per the approval from the project’s governance community. This could significantly reduce the growth of CRO’s available supply and drive the price of CRO up in the long run.

10. Shiba Inu – The second most popular meme-inspired cryptocurrency

Shiba Inu (SHIB) is a blockchain platform that was launched in August 2020. It started as an “experiment in decentralized community building” but quickly gained attention due to its unprecedented market run. The project is managed by the pseudonymous Shytoshi Kusama, a volunteer project lead, and has a massive social media following known as the “Shib Army.”

Throughout the years Shiba Inu has evolved from merely an experimental blockchain to a fully functional environment for various decentralized applications. The project’s ecosystem includes the native ShibaSwap decentralized exchange, SHIB Burning Portal, as well as several NFT and metaverse projects. The ecosystem is powered by a trio of tokens: SHIB, LEASH, and BONE. SHIB, the platform’s primary incentive token, is firmly positioned among the top 20 cryptocurrencies with the largest market capitalization.

Why could Shiba Inu be the next cryptocurrency to explode in 2023?

Shiba Inu (SHIB) has the potential to be the next crypto to explode due to several factors. Firstly, the upcoming launch of Shibarium, a layer 2 solution for the Shiba Inu blockchain, could lead to improved transaction speed and lower transaction costs. Additionally, the effect of SHIB burning could potentially decrease the circulating supply of the token, which may drive its price higher in the long term.

It has to be noted that SHIB burning is a bit unpredictable as it doesn’t follow any fixed schedule or mechanism but rather represents the community members performing gamified tasks or sending their SHIB to a so-called “dead wallet” during burning events or parties. Nevertheless, the community seems very eager to destroy enough tokens to push the price of SHIB above 1 cent. With these developments, SHIB could see another massive market rally soon.

The bottom line – There are several crypto candidates that could see explosive growth in 2023

As previously stated, successfully identifying what is the next crypto to explode requires thorough research and, admittedly, also quite some luck. Nevertheless, the 10 cryptocurrencies we have listed hold a relatively high potential for significant price increases in the rest of 2023. Furthermore, each of these cryptocurrencies has one or more distinctive features that set it apart from the rest of the crypto projects, which could bode very well for the project in certain situations. 
If you are, however, a long-term investor, who is not constantly on the search for the next big thing in crypto and you prefer HODLing, we recommend you read through our 10 best cryptocurrencies to buy today for the long-term article.

Investing in cryptocurrency has been gaining popularity ever since Bitcoin’s genesis back in 2009. While initially, the cryptocurrency sector was flooded with people trying to make a quick buck through a few speculative trades, the time frame of most crypto investments has been gradually shifting toward the long term as the sector matures.

In fact, many investors today consider cryptocurrency a viable long-term investment asset class. Those investors that believe that crypto will appreciate in the long run and therefore keep their coins and tokens safely stashed in their digital wallets are referred to as “HODLers” in the crypto jargon.

Which crypto to buy today for long-term HODLing?

In this article, we will explore the best long-term cryptocurrency investments, based on factors such as market capitalization, adoption rate, and the technology behind the project. Whether you are already a seasoned investor or new to the world of cryptocurrency, this guide will provide valuable insights into which crypto to buy today for the best long-term returns.

In our opinion, the best long-term crypto investments are:

1. Bitcoin – The world’s first and most renowned cryptocurrency
2. Ethereum – The largest smart contract and dApp environment
3. BNB – The native token of the BNB Chain and Binance ecosystem
4. Cardano – A proof-of-stake blockchain with a vibrant community 
5. Polygon – A leading layer 2 scaling solution for faster transactions
6. Polkadot – A blockchain network specialized in cross-chain transfers
7. Uniswap – A decentralized exchange with an automated market maker
8. XRP – A cryptocurrency for cross-border payments and settlement
9. Filecoin – A decentralized file storage network
10. Chainlink – The leading decentralized oracle network for secure data feeds

1. Bitcoin – The world’s first and most renowned cryptocurrency

Bitcoin is the world’s first truly decentralized digital cryptocurrency. It was launched on the 3rd of January 2009 by Satoshi Nakamoto, whose real identity has remained a mystery to this day. The Bitcoin blockchain is a public ledger that is secured by a proof-of-work consensus algorithm. This requires miners to put in computational work to solve complex cryptographic problems and process transactions. For their work, miners can be rewarded with transaction fees and block rewards. The block reward decreases every four years in an event called “Bitcoin Halving”. This caps the total Bitcoin supply at 21 million coins and generates deflationary pressure.

While Bitcoin started out as a niche project that mainly interested cryptography enthusiasts and “cypherpunks”, it didn’t take long for a wider audience to recognize the distinctive features of Bitcoin, leading to the emergence of a lively global market for BTC by 2012. The all-time high price for 1 BTC, which sits at $ 68,770, was reached in November 2021. 2021 is also the year when Bitcoin’s market capitalization surpassed the historic $1 trillion level.

Why is Bitcoin a good crypto to buy today for the long term?

As already mentioned, Bitcoin is the first and most well-known cryptocurrency, and it has a decentralized structure, meaning that no single entity controls it. This feature can make it more resistant to government interference or third-party manipulation. In addition, the integrated deflationary mechanisms may potentially drive demand for Bitcoin and increase its value over time.

Bitcoin has also gained acceptance from mainstream financial institutions and is now being traded on several stock exchanges. Many businesses also now accept Bitcoin as a form of payment. These factors have helped increase the legitimacy of Bitcoin and may lead to wider adoption in the future.

In addition, Bitcoin is often seen as a barometer for the whole cryptocurrency space. While some cryptos will outperform Bitcoin at times, the crypto market, in general, will mostly move in accordance with Bitcoin’s price performance. So even though Bitcoin is just a single cryptocurrency, it in some way represents the whole cryptocurrency sector.

These are just a few reasons why most investors are leaning towards Bitcoin as their go-to crypto for long-term investment.

2. Ethereum – The largest smart contract and dApp environment

Ethereum is an open-source blockchain that pioneered smart contract functionality in 2015. While the Ethereum network can also facilitate transfers of value between different Ethereum addresses, its key added value is in the execution of various smart contracts. Throughout their existence, Ethereum’s smart contract capabilities have facilitated numerous blockchain-powered innovations such as ICOs, DeFi, NFTs, and DAOs.

Ethereum’s native asset, Ether (ETH), currently holds the position of the second-largest cryptocurrency by market capitalization. In addition, the Ethereum network hosts numerous ERC20 tokens (from exchange tokens to DeFi tokens and stablecoins), which further extend the Ethereum environment’s reach, liquidity, and utility.

Why is Ethereum a good crypto to buy today for the long term?

Ethereum is another established cryptocurrency. It is the cryptocurrency with the second-largest market capitalization. In addition, Ethereum is right behind Bitcoin in terms of institutional involvement and availability on traditional markets.

The project has a large and active community of developers and users who are constantly working to improve the network and its capabilities. It is also because of this, that Ethereum has sparked and facilitated many cryptocurrency-related innovations in the past (and may continue to do so in the future). 

In September 2022, Ethereum completed the transition from a proof-of-work to a proof-of-stake blockchain. This made Ethereum more scalable, efficient, and more environmentally friendly, which may help increase its appeal to investors and users alike.

Furthermore, Ethereum implemented EIP-1559 in August 2021, which includes a real-time burning mechanism. The EIP that forever destroys a small amount of ETH with every transaction has burned over 3.2 million ETH since its inception, making ETH’s total supply slightly lower with every transaction.

3. BNB – The native token of the BNB Chain and Binance ecosystem

BNB is a cryptocurrency that was launched by Binance, one of the largest cryptocurrency exchanges in the world. Initially called the Binance Coin, this ERC-20 standard token was used to pay for trading fees and other services on the Binance exchange with a discount. However, Binance launched its own blockchain, the Binance Chain, in April 2019, and BNB was migrated from the Ethereum blockchain to the Binance Chain shortly thereafter.

This is how BNB became the native asset of the BNB chain and was granted a whole new range of utility. The BNB chain is a smart chain that facilitates fast transactions and lower fees compared to the Ethereum network, which made it a popular choice among users and developers. BNB has a limited supply of 200 million coins.

Why is BNB a good crypto to buy today for the long term?

As the native cryptocurrency of the Binance exchange, BNB’s success is largely tied to the success of this international cryptocurrency conglomerate, which operates one of the largest and most popular cryptocurrency exchanges in the world. While Binance has a large and active user base and a strong track record of innovation and development, you should be aware that, despite being decentralized on paper, BNB is, in fact, quite centralized because of its strong ties to Binance. To invest in BNB for the long term, you should therefore trust in the success of Binance in the long run.

The price of BNB is predicted to surpass $1,300 in early 2024, according to the algorithm.

Binance offers plenty of bonuses for BNB holders, such as reduced trading fees, the ability to participate in Binance Launchpad, BNB staking, and even earning cashback when paying with the Binance VISA Card. 

Binance also regularly conducts buybacks and burns of BNB tokens using a portion of its profits, thereby reducing the total supply, and potentially increasing the value of each coin. In addition to the quarterly BNB burns, the BNB chain also employs a real-time burning mechanism introduced by BEP95 (BNB Chain equivalent of EIP-1559 on Ethereum). These reasons grant BNB a spot in the top 3 long-term cryptos.

CTA: Buy BNB Now

4. Cardano – A proof-of-stake blockchain with a vibrant community

Cardano is a decentralized blockchain platform created to provide secure, transparent, and sustainable infrastructure for decentralized applications and transactions. Founded by Charles Hoskinson, a co-founder of Ethereum, Cardano uses a proof-of-stake consensus mechanism to validate transactions on its network. The blockchain was designed with a rigorous academic approach and features a layered architecture and built-in treasury system for easy maintenance and future upgrades.

Its native cryptocurrency is ADA, which is used to pay for transaction fees and as a store of value. Cardano’s potential for faster, scalable, and cost-effective transactions, as well as its commitment to sustainability, has gained attention from investors and traders for various use cases, including DeFi and NFTs.

Why is Cardano a good crypto to buy today for the long term?

Cardano has a rather large developer community and a very (pro)active user base. Perhaps also because of this, the blockchain is steadily receiving upgrades to improve its scalability and smart contract capabilities. The high scalability, ultimate efficiency, and continued improvement of the protocol make Cardano one of the top contenders among the smart contract-enabled chains.

Cardano is famous for its commitment to rigorous scientific research and development principles. While such a methodical approach allows Cardano to avoid the pitfalls encountered by projects with rushed development, it also has its drawbacks. For example, Cardano has been rather slow at capitalizing on important trends such as DeFi and NFTs. Nevertheless, this could suggest that the growth of Cardano is more sustainable and less hype-driven than that of other comparable projects.

As the platform’s smart contract functionality evolves further, we will likely see a growing number of interesting decentralized applications launch on this incredibly scalable platform. To conclude, Cardano remains a promising blockchain platform with strong potential for growth in the long term.

5. Polygon – A leading layer 2 scaling solution for faster transactions

Polygon is a Layer 2 scaling solution for Ethereum, designed to solve the blockchain’s scalability limitations. Previously known as Matic Network, Polygon uses multiple proof-of-stake sidechains to regularly push data to Ethereum for network checkpoints. With two bridges facilitating seamless asset transfers between Ethereum and Polygon, users benefit from supersonic speeds and high throughput, as well as easy and swift exits to the Ethereum mainnet.

Polygon’s features have made it an attractive option for DeFi projects, establishing it as a leading player in the DeFi sector. Developers and businesses are taking note of its solutions to Ethereum’s scalability challenges, making Polygon a promising platform for innovation.

Why is Polygon a good crypto to buy today for the long term?

The largest fear of investors in Polygon has been that the project will become obsolete as the Ethereum mainnet receives additional scalability-focused upgrades. Nevertheless, even after more than a year following Ethereum’s transition to PoS, Polygon continues to complement Ethereum by further amplifying its scalability and facilitating interoperability with other blockchain networks. Even after Ethereum developers deploy sharding, it is far more likely that Polygon will shift its focus to other use cases than straight up disappear, causing MATIC’s price to crash.

Polygon has lately achieved considerable success and adoption in the NFT sector. The popular Layer 2 solution has secured partnerships with several mainstream companies including Reddit, Starbucks, DraftKings, and Robinhood, indicating its potential as a significant beneficiary if blockchain-based applications and NFT-based collectibles gain mainstream popularity.

In addition, the Polygon network has maintained a high level of activity even during past bear market conditions. This is a significantly positive sign that reflects the network’s utility and the project’s long-term vision, which are independent of current market conditions.

6. Polkadot – A blockchain network specialized in cross-chain transfers

Polkadot is a next-generation blockchain platform that addresses issues of interoperability and scalability through the use of parallelly-run chains, also called parachains. Similarly to Cardano, the Polkadot project was created by one of the developers initially involved with Ethereum; the founder of Polkadot is Ethereum co-founder Gavin Wood. The platform is designed to allow different blockchains to connect and communicate with each other, creating a seamless network of various blockchain ecosystems.

Polkadot uses a unique consensus mechanism known as nominated proof-of-stake (NPoS) and allows for cross-chain communication, enabling the creation of decentralized applications that can leverage the features and functionalities of multiple blockchains. The platform utilizes a native currency called DOT.

Why is Polkadot a good crypto to buy today for the long term?

Polkadot’s unique value proposition as a platform for cross-chain communication and interoperability has attracted significant attention from developers and investors.

The platform’s modular design allows for not only flexibility and upgradability but also virtually unlimited room for growth. In addition, each parachain can be customized to best accommodate the specific needs of each project. The use of parachains will allow Polkadot to capitalize on any new trends that will emerge in the crypto space in the future.

Last but not least, Polkadot has repeatedly stayed within the Top 20 highest market cap cryptocurrencies and already has a vibrant ecosystem of developers and projects building on the platform. This could indicate that the ecosystem has a potential for continued growth and innovation in the long term, making Polkadot one of the most promising blockchain platforms currently available.

7. Uniswap – A decentralized exchange with an automated market maker

Uniswap is an automated market maker (AMM) protocol that enables quick and easy swaps between different Ethereum-based tokens. Its governance token, UNI, is an ERC-20 token that allows holders to vote on proposals that determine the future of the platform.

In the past, Uniswap has been struggling with high fees on the Ethereum network, which have caused a decline in its user base and market share. Rather than giving up, the project answered by implementing upgrades that improved its services and reduced fees. Two major milestones were the release of Uniswap V3 in March 2021, which implemented an improved version of the AMM protocol, and the launch of the Uniswap protocol on two Ethereum Layer 2 networks in July 2021.

Why is Uniswap a good crypto to buy today for the long term?

Uniswap is a decentralized exchange protocol that allows users to trade cryptocurrencies without the need for intermediaries. With over $4.1 billion locked across six different blockchains, Uniswap is already an established player in the DeFi space. Continued demand for decentralized finance (DeFi) and decentralized trading has been a significant driver of Uniswap’s growth in the past and will likely continue to fuel Uniswap’s development and UNI’s appreciation in the future.

In the future, Uniswap could benefit from the influx of new investors. As more people become interested in cryptocurrencies and decentralized finance, they will discover Uniswap and likely start using its services. Furthermore, Uniswap could benefit a lot in case more centralized exchanges get into trouble or are struck by negative publicity, as was the case in November 2022, when FTX collapsed.

For the long-term success of a project, it is also crucial that the developers continue to introduce new features and improve the existing ones. Since Uniswap regularly introduces new features and deploys improved and more efficient iterations of its protocol, such as Uniswap v3, UNI could be a good crypto to hold for the long term.

8. XRP – A cryptocurrency for cross-border payments and settlement

XRP is the native cryptocurrency of the Ripple blockchain, which was launched in 2012 by Chris Larsen, Jed McCaleb, and Arthur Britto. It was designed to enable fast and inexpensive cross-border payments, with the goal of improving the traditional banking system. The Ripple network uses a unique Ripple Protocol consensus algorithm (RPCA), which is neither proof-of-work nor proof-of-stake. Instead, it relies on a distributed agreement protocol to validate transactions, allowing for faster and more efficient processing.

One of the unique features of Ripple is its maximum supply of 100 billion coins, all of which were minted at launch. At that time, 80% of the total XRP supply was given to fintech firm Opencoin, which later rebranded as Ripple Labs in 2015. As of today, Ripple Labs still holds more than half of the total XRP supply. However, most of the company’s XRP holdings are locked in escrow, with a small portion released each month.

Why is XRP a good crypto to buy today for the long term?

Despite its potential benefits, Ripple has faced regulatory challenges. In December 2020, Ripple became entangled in a lawsuit with the United States Securities and Exchange Commission (SEC), which accuses the company of selling unregistered securities. To this day, the legal battle remains one of the key factors influencing XRP’s price, and if the lawsuit ends with Ripple Labs’ victory, XRP could go on a bull run.

Nevertheless, Ripple’s value goes far beyond its legal and regulatory status. First, Ripple’s technology aims to address some of the key challenges in the traditional banking system, such as slow transaction speeds and high fees. By offering fast and low-cost payments, Ripple has the potential to disrupt traditional payment systems.

Second, Ripple has already established partnerships with several financial institutions, such as Santander and American Express. These partnerships indicate that Ripple’s technology is being recognized by the traditional banking industry, which could lead to wider adoption and increased demand for XRP.

Third, Ripple’s total supply of XRP is fixed, with all coins already minted. This means that the supply cannot be increased, which could potentially make XRP more valuable over time if demand continues to grow.

9. Filecoin – A decentralized file storage network

Filecoin is a decentralized storage network that allows users to rent out their unused hard drive space in exchange for the platform’s native cryptocurrency, FIL. The project raised $205 million worth of crypto in a 2017 ICO and launched its highly anticipated mainnet on October 15, 2020.

Filecoin uses a proof-of-replication consensus mechanism to ensure that data is stored correctly and securely. By incentivizing users to contribute storage space, Filecoin creates a decentralized network that allows for more efficient and cost-effective data storage compared to centralized cloud storage providers.

Why is Filecoin a good crypto to buy today for the long term?

Filecoin network’s decentralized storage service eliminates dependence on centralized cloud storage providers and offers a highly competitive storage marketplace that results in improved consumer pricing. With the wider adoption of cryptocurrency, blockchain, and decentralized protocols, projects like Filecoin are poised to enjoy increased demand for their services. In fact, decentralized storage will likely be critical for supporting the migration to Web3 solutions.

An excellent example of the network’s potential application is in storing media linked to NFTs, ensuring that it remains accessible and unaltered over an extended period. If the need for decentralized storage expands, Filecoin could certainly emerge as one of the major cryptocurrency powerhouses in the near future.

10. Chainlink – The leading decentralized oracle network for secure data feeds

Chainlink is a decentralized oracle network that connects smart contracts to off-chain data sources and APIs. It enables smart contracts to access external data securely and reliably, thus providing a bridge between the blockchain and the real world. As of today, Chainlink is one of the most widely used oracle solutions in the blockchain ecosystem, with a growing number of integrations with various blockchain platforms and projects.

The network is powered by LINK, its native token, which is used to pay node operators for providing reliable data and to secure the network through staking. Furthermore, LINK is also used as a governance token for the project, allowing token holders to vote on proposals to improve the network.

Why is Chainlink a good crypto to buy today for the long term?

Since its launch in 2017, Chainlink’s decentralized oracle network has quickly grown to become a cornerstone of the crypto ecosystem. The network plays an almost irreplaceable role in many decentralized applications on several different blockchains, including major projects like Aave, Synthetic, Compound, and Ethereum Name Service.

Chainlink’s services have an immense number of potential applications. A particularly interesting one is that Chainlink’s secure and reliable access to off-chain data makes it a valuable tool for verifying the solvency of cryptocurrency exchanges and other financial institutions. These entities could generate and display their proof of reserves using Chainlink in the future.

Furthermore, Chainlink is currently in the process of transitioning towards Economics 2.0, which will feature LINK staking along with the BUILD and SCALE programs designed to expand the Chainlink ecosystem and make the network more accessible for developers. With these developments, Chainlink’s potential for growth over the long term is substantial.

The bottom line – Long-term investing is about looking at the big picture

We sincerely hope that this article has provided you with valuable insights and ideas to consider in your quest to find the most promising and ultimately best crypto for long-term holding. In general, all the featured cryptocurrencies are already established projects with a clear vision for future development, a growing user base, and active developers. This is why these projects are poised to thrive regardless of the ups and downs of the volatile cryptocurrency markets. Therefore, they present excellent investment opportunities for those seeking long-term growth.

Nevertheless, the best cryptocurrency to invest in widely varies between investors, as the pick greatly depends on your investment goals, risk tolerance, skill, knowledge, and the amount of time you are prepared to put into research and portfolio management.If you decide to get into the HODL game, make sure to do your own research and take all the necessary precautions to keep your assets safe. Our guides on the best hardware wallets and best metal wallets can help you choose a secure storage setup catered to your needs.

In November of 2022, the world of blockchain was struck by yet another major scandal. This time, the culprit was the world’s third-largest centralized exchange, FTX. It came to light that the CEO of FTX, Sam Bankman-Fried, had illegally transferred over $10 billion USD of user funds from FTX to his sister company, Alameda Research.

The scandal evoked an extreme reaction across the community, with users attempting to withdraw their funds and being unable to do so. After the full extent of the fraud was exposed, FTX imploded, with its trillion-dollar valuation rapidly declining. FTX is now non-operational, with their site being replaced by details of their bankruptcy deal.

Beyond spooking the cryptocurrency community and driving prices across the market down, this event caused a ripple across centralized exchanges. People were suddenly extremely worried about where their funds were, and if the centralized exchange they traded with was properly managing them.

In the months since these events, centralized exchanges like Binance, Coinbase, and StormGain have responded to the FTX implosion in a number of ways. Primarily, through the release of proof of reserve documents. Yet, this isn’t enough. In this article, we’ll dive into the reactions of these three exchanges, demonstrating that StormGain is rapidly winning community favor over Coinbase and Binance.

The Rise of Proof of Reserves

In the days following the misuse of user funds by FTX, major centralized exchanges scrambled to set themselves apart from the ex-third largest CEX. The first reaction, initially seen within Binance, was to release a Proof of Reserve document.

Within a PoR document, businesses are able to list and verify the digital assets that they have on hand. For investors and users that have money stored within a platform, this is a movement toward transparency, showing everyone that their money is exactly where they think it is.

Every PoR document is audited and verified by an independent party, often by another centralized third party. Binance first released this document to demonstrate that their user funds were still on the platform. If FTX had been asked to produce one of these a few months ago, it would have quickly come to light that their money wasn’t where they said it was.

After this first release, other major centralized exchanges quickly hopped on the trend. Coinbase even published a document that explained to their community what a PoR is, as well as how it works.

When a centralized exchange publishes a PoR, they’re showing the world that they have available user funds. This means that if a user wanted to withdraw their own funds, they would be able to. This is, of course, directly reacting to FTX freezing user accounts and preventing them from liquidating their money.

The trend of exchanges freezing user accounts is, unfortunately, a lot more common in centralized exchanges than we’d like to believe. Apart from the FTX scandal, centralized exchanges have also been known to freeze user accounts based on geographic legislation and politics. For those that seek cryptocurrency as a form of truly decentralized finance, this is an alarming sentiment.

Going Beyond Documentation

Binance, Coinbase, and a whole multitude of other centralized exchanges have released their proof of reserve documents. While this has appeased some members of the blockchain community, others aren’t quite so convinced. As the CEO of OSL, Wayne Trench, points out, these documents lack “audited fiat reserves, client and company liabilities, companies loans, and much of the other required information necessary to ascertain a firm’s financial health.”

Many people in the community aren’t fully trusting of the proof of reserves that these companies have published. In fact, this event has served to further call into question why sites like Binance and Coinbase haven’t shared proof of their outstanding debts or current liabilities. For companies that are all about transparency and trust, this is an alarming situation for many investors.

While a proof of reserve document does provide some relief, there is still a fundamental problem with centralized exchanges. By definition, cryptocurrency is a decentralized financial medium. Yet, by trading through centralized companies, the true ownership of cryptocurrency is taken away from the customer.

After what happened with FTX, many aren’t happy with having their cryptocurrency held on a centralized platform. This reaction has caused some more progressive exchanges, like StormGain, to take action.

Following the events of FTX, StormGain – known for their commitment to their community – rapidly constructed and launched a decentralized exchange. This platform leveraged the community backing and support of their centralized exchange but provided a space where users have even more control over their finances.

This was met with a huge positive reaction from the community, demonstrating that the world of blockchain appreciates the additional options. By giving their community a choice over how they hold and use their cryptocurrency, StormGain made the executive decision to favor the true principles of the decentralized world.

If other centralized exchanges want to see the level of community support, trust, and customer power that StormGain has become known for, then following in their footsteps and providing flexible ways of investing would be the way to go.

Final Thoughts

While the FTX scandal was a tumultuous time in the world of blockchain, its aftereffects are seemingly creating a more secure place for all. At the very least, centralized exchanges are now starting to release additional documentation that proves where they’re keeping user funds. On the other hand, we’ve seen StormGain set an exciting and impressive precedent, innovating their CEX model in favor of a new decentralized exchange. If the community reaction is anything to go off, StormGain is likely to have an innovative year on their horizons.

Bitcoin mining initially was considered a popular activity for crypto enthusiasts. With the proper equipment, it is possible to generate Bitcoin, but the process is complex and protracted. In the following article, we will talk about the process of mining and whether it is still a good idea to mine cryptocurrencies in 2023.

What is Mining?

When we talk about the process of mining, Bitcoin is always a leader. It comes as no surprise, as it is the largest crypto in the world and was the first one to appear in 2008. With its wide usage, you can play crypto blackjack, buy various items from online shops or simply store it in your wallet.

Simply put, cryptocurrency mining is the process of generating new coins. The process is a part of highly sophisticated mathematical calculations of the transaction hash function by the nodes of the cryptocurrency network. 

Mining is the process of “extraction” of cryptocurrency, and its issuance is not subject to anyone’s supervision. The process benefits from blockchain technology. Basically in blockchain, each block stores information about individual transactions. 

The main function of mining is a single or group service for cryptocurrency transactions. The process can roughly be described as follows:

1. The mining software platform aggregates the latest bitcoin (or other cryptocurrencies) transactions into blocks and proves its validity. In this case, a large number of mathematical problems are solved.
2. Finding the correct answer is the ultimate goal of the algorithm, which supports the entire network function of the chosen cryptocurrency.
3. The miner who finds the correct number first will receive the corresponding reward.
4. During the mining process, new bitcoins (or other units of virtual currency) will be generated.

We should also note that Bitcoin is limited to 21 million coins, meaning it will not be possible to issue new tokens.

The Impact of Algorithms on Mining

The list of popular cryptocurrencies changes frequently. It should be noted that it is impossible to reconfigure the equipment for them. The fact is that each cryptocurrency has different methods of proof of mining, as well as different goals. One cryptocurrency is designed to be resistant to ASIC miners.

A lot can change due to the introduction of algorithms that do not require powerful devices to confirm transactions and support the network. In this regard, the question arises about the prospects of ASIC miners. Changes are possible with the support of most network members. 

If the trend continues in the future, then all proof-of-work miners will have to stop their activities and sell equipment or, if possible, switch to mining other currencies.

What is More Profitable – Buying or Mining Crypto?

Novice investors often consider two options for entering the crypto market – mining, or trading, that is, buying and selling it at a more favorable rate. But if an investor, for example, buys 3 bitcoins, then in a couple of years, if he does not sell them, he will still have the same 3 bitcoins in his hands. His profit is the difference in rates, which is not necessarily positive. A striking example is the current situation when the bitcoin rate fell to almost $23,000.

Investments in mining during the same time can bring not 2, but 5-7 bitcoins. This opportunity diversifies the investment portfolio and makes it less sensitive to exchange rate fluctuations. In fact, eventually, mining is a much more profitable strategy, because if you mine coins and then do not sell them for some time, you can increase profits by 2-3 times. 

In addition, miners receive not only a cryptocurrency as a reward but also a certain amount as a commission for transactions in the blockchain. Now such commissions make up about 20% of the total profit.

Is Mining Profitable in 2023?

The boom of the cryptocurrency business occurred in 2017 when the Bitcoin rate soared to incredible heights. Of course, crypto enthusiasts immediately decided that mining is profitable, without thinking too much about whether it is beneficial eventually or not. 

Those who need a stable and substantial income believe that mining is an excellent activity that will allow them to realize their aspirations in naive without being tied to established trade and market relations. Before buying a powerful video card and other equipment you should adequately assess the risks and consider that cryptocurrency is not legalized in all countries. It may be difficult to withdraw or convert it into real money since not all financial institutions conduct transactions with it.

Key Highlights:

• Ledger is offering a promotion called “Safe Journey” which gives buyers of their Nano X and Nano S Plus wallets the opportunity to receive up to $30 worth of Bitcoin for free
• During the promotion period, every new device purchased will include a Bitcoin voucher and a QR code that provides instructions on how to redeem the BTC reward
• To claim the Bitcoin reward, customers must do so within a year from the date of purchase, as the offer expires after that period

‘Safe Journey’ promotion will only be available until April 18th

Ledger, the leading manufacturer of cryptocurrency hardware wallets, is known for its high-quality and secure products. Their Nano X and Nano S Plus devices are no exception, and they are considered among the best crypto hardware wallets on the market. Both wallets offer a great blend of security, quality, and price, making them an ideal choice for crypto users who want to securely store and manage their digital assets.

The Nano X is Ledger’s top-of-the-line wallet and boasts several advanced features, such as Bluetooth connectivity and a larger screen, which makes it easier to manage transactions on the go. It is also capable of storing up to 100 different cryptocurrencies, making it a versatile wallet for investors with diverse portfolios.

On the other hand, the Nano S Plus is a successor to the highly popular Nano S wallet and is an upgraded version with more storage capacity and better processing power. It is a more affordable option compared to the Nano X but still offers high levels of security and convenience.

Both wallets are compatible with external accessories, such as metal wallets for secure seed phrase storage, which can provide an extra layer of protection against hacking and theft. This, combined with Ledger’s reputation for creating robust and secure hardware wallets, makes the Nano X and Nano S Plus an all-around solution for securely storing and managing crypto.

The “Safe Journey” promotion is a great opportunity for crypto users who are looking to buy a hardware wallet to take advantage of. By purchasing a Nano X or Nano S Plus device during the promotion, buyers can receive up to $30 worth of Bitcoin for free, which can be a significant boost to their crypto portfolio. The promotion will run until April 18th, 2023, so interested buyers should act quickly to take advantage of this offer.

Since cryptocurrency is on its way to becoming a traditional form of payment, you may want to find out what it is so you aren’t left behind in the financial world. It can seem daunting to people who have never used cryptocurrency before, but once you get your head around the technicalities behind it, it is really quite simple.

Here is the ultimate cryptocurrency guide for beginners:

What is cryptocurrency?

You can’t live in the modern world and not know what cryptocurrency is. It started gaining popularity with the boom of Bitcoin and the rise in the markets, and it has only become bigger each year. It’s a form of currency that many large corporations are starting to introduce as a payment method.

Digital-first industries have adopted crypto-powered transactions faster than others. For instance, online casinos, where you can play crypto slots, have removed transaction fees entirely for crypto deposits. This incentivizes more online gaming enthusiasts to enjoy games like Fury of Zeus by simply depositing funds in cryptocurrency. Besides, with the presence of crypto bonuses, the entire industry is shifting towards a decentralized future at full speed, where people would prioritize digital currencies over their fiat counterparts for online services.

Cryptocurrency is a form of decentralized digital currency often referred to as ‘crypto’. It is based on cryptography and is not issued by a central authority which most other fiat currencies such as the pound, euro, and dollar are. Instead, cryptocurrency is mined, sold, and monitored through a peer-to-peer network.

When you want to understand what cryptocurrency is, you also need to have a basic understanding of blockchain. This is the digital ledger that cryptocurrency is built on and what records any crypto transactions. It was initially built as a foundation for Bitcoin in 2009, but it has started to evolve, and lots of businesses are seeing how it can be used for other applications.

How cryptocurrency works

Blockchain provides cryptocurrency with a non-hackable record of transactions and who owns what coins at the time. It works to fix the problem that many other digital currencies have faced, which is where people would make copies of their holdings. That is impossible with cryptocurrency, and therefore they are incredibly secure.

A unit of cryptocurrency, or a coin, is created through a process called mining. Let’s use Bitcoin as an example. To mine Bitcoin, you need to solve mathematical equations and complex puzzles to verify the authenticity of a transaction being made on the blockchain. Because you do this to help other transactions, you’re rewarded with a Bitcoin of your own. Most of the time, the mining process is relatively similar, but it might differ depending on the cryptocurrency you’re mining.

Types of cryptocurrency

As we mentioned, many cryptocurrencies are created as a reward for work completed on the blockchain they are a part of. However, different forms of cryptocurrencies have different purposes. These different coins also have unique purposes, and some may be more worth investing in than others. Here are some of the most common types of cryptocurrency:

• Utility: These are the most common cryptocurrencies which serve functions on their blockchains
• Transactional: Bitcoin is an example of a transactional cryptocurrency, where you use them to pay for goods and services like online casinos
• Governance: These cryptocurrencies help people vote and complete similar other actions on a blockchain
• Platform: These types of cryptocurrencies support applications which have been built to use a blockchain specifically
• Security tokens: You will find a security token when you want to represent your ownership over an asset

Pros of cryptocurrency

There is a reason cryptocurrency is becoming such a popular payment method and investment, and that’s because there is a wide range of advantages associated with it:

• There is no central authority or ‘middle man’ when you’re using cryptocurrency. This means all your coins are in your hands. It removes the power of central banks and stops them from reducing the value of money.
• Cryptocurrencies have been seen as a good alternative for underserved communities that have been let down by the traditional financial system.
• Since cryptocurrencies are built on blockchain technology and use a decentralized processing system, it makes all transactions and payments much more secure and less likely to be hacked.
• You are able to grow your crypto holdings without having to invest your own money through a process called crypto staking. This can provide you with higher returns for less.

Cons of cryptocurrency

Just like most things, cryptocurrency has downsides as well. Here are a few disadvantages associated with the digital currency:

• Since cryptocurrency is still a relatively new payment method, many projects are untested. Many people are skeptical about things like Bitcoin becoming a traditional banking option, which makes it hard for it to grow.
• There is high volatility associated with cryptocurrency investments, and that’s because the prices tend to change rapidly. Some people may have made higher returns by buying in at the right time, but others have lost out big when the markets crash.
• Mining cryptocurrencies such as Bitcoin uses a large amount of power which has detrimental effects on the environment. However, some cryptocurrencies use different ledgers that don’t require as much energy.