We are going to be looking at lucrative cryptocurrencies with high earning potential, this article is written at the beginning of January 2023 and is based on current market conditions.
What are cryptocurrencies with high potential?
Cryptocurrencies with high potential are cryptocurrencies that have the potential to grow significantly in value over time.
There are several factors that can contribute to a cryptocurrency’s potential for high returns and for it to make it onto our list, the coin or token needs to meet them all.
With the recent collapse of FTX and other players like Celsius Network before them, the industry is facing a mass of regulatory changes, which will mean an end to many of the Shit coins that make up today’s crypto market and the potential to create large losses for anyone invested in them.
This, however, does not mean that there aren’t still some great opportunities out there for those of us that do our research and invest into the right technologies, and with the current market conditions, there has never been a better time to pick up some real bargains!
Let’s look at what:
Cryptocurrencies with high potential are determined by:
- A strong development team
- A unique or innovative use case
- A strong user community
- Strong partnerships or collaborations.
- Widespread adoption
- Valued at a good entry point
Now knowing what we should be on the lookout for, let’s also consider what factors would make an investment undesirable and prompt us to avoid putting our hard-earned money into it.
Cryptocurrencies with low earning potential that should be avoided are determined by:
- Lack of a unique or innovative use case
- Weak development team
- Lack of a strong user community
- Scaling issues
- Regulatory challenges
- Overpriced
Lucrative cryptocurrencies with practical application and high-earning potential
It is important to note that the following list is based on my current knowledge and understanding of crypto projects and markets, and should not be taken as financial advice.
Cryptocurrencies, like any other form of investment, carry inherent risks, and it is important to thoroughly research and carefully evaluate any investment before making a decision.
Before investing in any cryptocurrency
Check out our beginners guide to crypto
Know how to create a diverse portfolio
Never Risk more than you can afford to lose
and
Always do your own research!
With that being said, here is a list of:
10 cryptocurrencies with high potential for 2023
- Cardano – ADA
- Solana – SOL
- Polkadot – DOT
- Ripple – XRP
- Binance Coin – BNB
- Band protocol – BAND
- Cosmos – ATOM
- Celo – CELO
- Polygon – Matic
- Coti – COTI
The cryptocurrency market is constantly changing and there are many factors that can affect the profitability of a cryptocurrency, but this does not mean you should not consider investing in solid projects and technologies. It is always a good idea to diversify your portfolio and not invest more than you can afford to lose.
Now let’s explore why these cryptocurrencies made the cut and look at:
A practical review of our top 10 high-potential cryptocurrencies
| Crypto | Jan 2023 Price | All-Time High | Maximum Supply | Crypto Type |
|---|---|---|---|---|
| Cardano – ADA | $0.26 | $3.1 | 450,000,000,00 | Decentralized platform |
| Solana – SOL | $13.05 | $260 | 511,616,946 | Decentralized platform |
| Polkadot – DOT | $4.65 | $55 | 1.15,000,000,0 | Decentralized network protocol |
| Ripple – XRP | $0.34 | $3.4 | 100,000,000,0 | Digital payment network |
| Binance Coin – BNB | $256.68 | $686.61 | 163,280,000 | ERC-20 Utility token |
| Band protocol – BAND | $1.46 | $23.19 | 100,000,000 | Decentralized oracle platform |
| Cosmos – ATOM | $10.15 | $44.7 | 286,370,000 | Decentralized utility network |
| Celo – CELO | $0.498 | $7.6 | 100,000,000,0 | Decentralized financial platform |
| Polygon – Matic | $0.80 | $2.92 | 10,000,000,000 | Cryptocurrency and network |
| Coti – COTI | $0.052 | $0.68 | 2,000,000,000 | Decentralized platform |
As you are able to see, with almost a 90% dip across the board on most of our items, it is most definitely a buyer’s market at the moment. Futures trading may be different, however, as an investment opportunity the timing is perfect to pick up some really good tokens at real discount prices.
Crypto in on itself is a volatile investment, however by selecting the right technologies and spreading your risk between them and entering into your trades at the right tume, the risk becomes substantially less!
Now let’s explore each of these high-potential cryptocurrencies to get a better understanding of where they come from and what they do!
What is Cardano (ADA)
Cardano is a decentralized, open-source blockchain platform that is focused on security and scalability. It was created by blockchain development firm Input Output Hong Kong (IOHK) and is led by Charles Hoskinson, who is also a co-founder of Ethereum.
Cardano’s native cryptocurrency is called ADA
Cardano is designed for use in the development and execution of smart contracts and decentralized applications. It is intended to be used for a wide range of applications, including financial transactions, supply chain management, and identity verification, and allows users to develop their own applications on it.
Why Cardano made the top of the list
Other than Charles Hoskinson’s impressive resume and his being one of the most well-spoken communicators I’ve ever come across, Cardano aims to provide a more secure and scalable platform for the development of decentralized applications (dApps) and smart contracts, and it utilizes a proof-of-stake (PoS) consensus algorithm called Ouroboros.
Cardano has a strong focus on sustainability and aims to use a small fraction of the energy required by proof-of-work (PoW) consensus algorithms, such as the one used by Bitcoin, and which Etherium just moved away from.
The Cardano platform is built on a layered architecture, which allows for the separation of the settlement layer, which handles transactions, from the computation layer, which handles smart contracts
This separation is intended to enable greater flexibility and scalability for the platform, which is one of our biggest value-determining factors for this list however, this is still not Cardano’s biggest strength.
Cardano is a cryptocurrency that is run by its stakeholders, it’s they who make decisions on the future of the platform, and it’s in the community that Cardano’s true value lies. As the crypto markets evolve and integrate more into our modern-day financial markets, I believe that this will become one of the most important factors for high-earning potential investments.
Finally, the current price of Cardano in January 2023 is below $0.27 per ADA, which puts Cardano 91.36% below its all-time high of $3.10, which gives it a lot of potential for growth!
Cardano ticks all the boxes that makeup cryptocurrency with high potential!
What is Solana (SOL)
Solana is a high-performance blockchain platform founded by Anatoly Yakovenko and developed by a team of experienced blockchain professionals. It uses a proof-of-stake (PoS) consensus mechanism and a unique algorithm called Proof of History (PoH) to enable fast and secure transactions at scale.
Solana was first released in 2017 and is intended for use as a decentralized platform for building and deploying a wide range of decentralized applications.
Why Solana made it onto the list
Just Like Cardano, Solana is also a decentralized blockchain platform for the development of decentralized applications (dApps) and smart contracts
Solana recently crashed due to its relationship with the former exchange FTX, while Solana played no role in FTX’s corruption, because of the relationship it shared and the amount of SOL held by Sam Bankman-Fried, the value of SOL plummeted after the collapse.
While this was terrible for anybody who invested in Solana at the time, it presents a great opportunity for new investors. With the entire crypto market down and Solana currently trading at just above $13 per SOL, it puts Solana down around 95% from its all-time high of $260.06
Despite the crash, this makes Solana a great investment opportunity, as the fundamental technology has not changed!
Any experienced trader is aware that the market has a tendency to overreact to events, and nothing is guaranteed, it is very likely that given enough time, Solana will make a reasonable recovery due to the underlying utility of the platform!
What is Polkadot (DOT)
Polkadot is a decentralized network protocol that enables the interoperability of multiple blockchain systems. It is designed to allow different blockchain systems to communicate and exchange information with one another in a secure and decentralized manner. The project was founded by Dr. Gavin Wood, one of the co-founders of Ethereum, and is being developed by the Web3 Foundation.
Why Polkadot made it onto the list
The goal of Polkadot is to create a network of blockchains that is more scalable, flexible, and secure than any single blockchain could be on its own.
One of the key features of Polkadot is its ability to process transactions in parallel, rather than sequentially like most blockchains. This makes it possible for the network to process a large number of transactions simultaneously, which makes it more scalable and efficient.
In addition to its interoperability and scalability features, Polkadot also has a built-in governance system that allows stakeholders to make decisions about the direction and development of the network. This gives it the ability to adapt and evolve over time to meet the changing needs of its users.
In practical terms, this means that Polkadot can be used to connect different blockchain networks and allow them to exchange data and value with one another. For example, it could be used to allow a blockchain that is used for supply chain management to communicate with a blockchain that is used for financial transactions. This would enable the two systems to work together and share information in a seamless and secure manner.
The current price of Polkadot in January 2023 is below $4.6 per DOT, which puts it far below its all-time high of $55, and affords it a lot of potential for recovery and growth!
What is Ripple (XRP)
Ripple is a digital currency and a payment network that operates on a decentralized platform, and was was created by a company called Ripple Labs, which was founded in 2012 by Chris Larsen and Jed McCaleb.
The Ripple payment protocol was first developed in 2004 by Ryan Fugger, who was looking for a way to create a more decentralized financial system. Fugger’s original idea was to create a network that would allow individuals and communities to create their own money.
This idea evolved over time into the Ripple payment network, which uses XRP as a digital currency on the network
Why Ripple made it onto the list
Ripple is a popular choice for financial institutions looking to make cross-border payments and exchange currencies. Its focus on compliance and its ability to facilitate fast and cheap transactions make it attractive for use in the financial industry.
The Ripple network is also more efficient and faster than some other blockchain networks, which makes it a good choice for certain types of transactions. Despite some controversy surrounding its centralized structure
Ripple continues to be a major player in the world of digital currencies and is widely used by financial institutions around the world.
The current price of Ripple in January 2023 is below $0.34 per XRP, which puts it far below its all-time high of $3.4 and affords it a lot of potential for recovery and growth, especially with Ripple’s widespread adoption and utility amongst financial institutions.
What is Binance coin (BNB)
BNB was created by Binance, which is a cryptocurrency exchange that was founded in 2017 by Changpeng Zhao.
Binance is based in Malta, and it has quickly become one of the largest and most popular cryptocurrency exchanges in the world. BNB is an ERC-20 token built on the Ethereum blockchain and was created to be used as a utility token on the Binance platform, and it has become a widely adopted and well-known digital currency.
Why Binance coin made it onto the list
BNB has a fixed supply of coins, which at 163,280,000 is substantially lower than most of the others on our list, however, its market capitalization is not any less than its competitors, proving the trust people place in it and causing it to appear overpriced compared to the others on the list.
This is however just an illusion, as it’s return is measure in dollars not cents and there is just as much profit to be made by investing in BNB, as any of the other technologies we are discussing here!
As a utility token for the Binance network, BNB is used for:
- Paying for transaction fees: BNB can be used to pay for transaction fees on the Binance platform, such as trading fees and withdrawal fees. Using BNB to pay for these fees can often result in a discount compared to paying with other digital currencies.
- Participating in token sales: BNB is often used as a method of payment for participating in token sales that are held on the Binance platform.
- Staking: BNB can be staked on the Binance platform, which allows users to earn rewards for holding and using BNB.
- Voting: Binance allows BNB holders to vote on certain platform decisions, such as the listing of new digital assets.
- Other uses: BNB can also be used for a variety of other purposes on the Binance platform, such as buying gift cards and participating in various promotions and events.
As long as Binance is around, BNB will be around, and with its current price trading around $256, compared to its all-time high of $686.61, you can tell that even during the recent market crash, it did not lose nearly as much of its value as other cryptocurrencies.
BNBs widespread adoption and utility, make it one of the most practical cryptocurrencies around, and a great consideration for a long-term investment!
What is Band protocol (BAND)
Band Protocol is a decentralized oracle platform that allows smart contracts on blockchain networks to securely access off-chain data.
Band Protocol was founded in 2017 by Soravis Srinawakoon, Sorawit Suriyakarn, and Kevin Lu.
They are a team of experienced software engineers and blockchain professionals who are based in Thailand. The company is focused on developing decentralized oracle technology and building a decentralized oracle platform that allows smart contracts to securely access off-chain data.
Why BAND made it onto the list
Some of the main strengths of Band Protocol are:
- Decentralized: Band Protocol uses a decentralized network of validators to ensure the accuracy and integrity of the data that is accessed by smart contracts. This makes the platform more secure and resistant to tampering compared to centralized oracle platforms.
- Fast and scalable: Band Protocol is designed to be fast and scalable, which makes it well-suited for use in a wide range of decentralized applications.
- Secure: Band Protocol uses a number of security measures to protect the data that is accessed by smart contracts. These measures include data validation, cryptographic signatures, and more.
- Flexible: Band Protocol is designed to be flexible and able to connect to a wide range of data sources, including APIs, data feeds, and other off-chain data sources.
- Wide range of use cases: Band Protocol can be used in a variety of decentralized applications, including decentralized finance (DeFi) platforms, prediction markets, and more. This makes it a potentially useful tool for developers building on blockchain networks.
Band Protocol has received funding from a number of venture capital firms and has attracted significant attention in the blockchain industry.
The current price of BAND in January 2023 is below $1.46 per BAND, which puts it far below its all-time high of $23.19 and affords it a lot of potential for recovery and growth
What is Cosmos (ATOM)
Cosmos is an open-source, decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint. Cosmos was founded by Jae Kwon and Ethan Buchman. The project was initiated in 2014 and the mainnet was launched in March 2019.
The Cosmos network is designed to enable the creation of custom blockchains, enabling developers to build applications that can scale and interoperate with other blockchains.
ATOM is the native token of the Cosmos network and is used to facilitate interoperability between the different blockchains in the network and to secure the network through a distributed proof-of-stake (DPoS) consensus mechanism
Why Cosmos made it onto the list
Some of Cosmos’s main strengths are:
- Interoperability: The Cosmos network is designed to enable interoperability between different blockchains, allowing them to communicate and exchange data with one another. This is achieved through the use of the Cosmos Hub, which acts as a hub for connecting different blockchains and enables them to share data and tokens.
- Scalability: The Cosmos network is designed to be highly scalable, with each blockchain in the network able to process thousands of transactions per second. This makes it well-suited for building applications that require fast and efficient transaction processing.
- Customizability: The Cosmos network allows developers to create custom blockchains, enabling them to build applications that are tailored to their specific needs. This allows developers to customize the parameters of their blockchain, such as its consensus algorithm, block size, and block time.
- Decentralization: The Cosmos network is decentralized, with the consensus process being secured through a distributed proof-of-stake (DPoS) mechanism. This ensures that the network is secure and resistant to censorship and tampering.
- Ecosystem: The Cosmos network has a strong ecosystem, with a large and active community of developers and users. There are also a number of projects and companies that are building on top of the Cosmos platform, which helps to drive adoption and development of the network.
The current price of Cosmos in January 2023 is below $10.15 per ATOM, which puts it far below its all-time high of $44.70.
Cosmos is also one of the crypto networks that managed to perform well and retain quite a bit of its value even with the recent Market crash.
What is Celo (CELO)
CELO is an open platform that enables anyone, anywhere to transact with anyone else, instantly and at a low cost, using any currency, and was founded by Rene Reinsberg, who is also the CEO of the project. The project was initiated in 2017 and the mainnet was launched in May 2020.
It is a decentralized financial system that is built on top of the Celo blockchain, which is a proof-of-stake (PoS) blockchain that utilizes a validator network to secure the network and reach consensus on the state of the blockchain.
The native token of the CELO platform is a utility token also called CELO.
Why Celo made it onto the list
Some of the key strengths of CELO include:
- Decentralization: The platform is decentralized, with the consensus process being secured through a proof-of-stake (PoS) mechanism. This ensures that the platform is secure and resistant to censorship and tampering.
- Scalability: It is designed to be highly scalable, with the ability to process thousands of transactions per second. This makes it well-suited for building applications that require fast and efficient transaction processing.
- Accessibility: Celo is inteded to be accessible to anyone, anywhere, regardless of their technical expertise or financial resources. It aims to enable anyone to participate in the global financial system and access financial services, even in areas where traditional financial services are not available.
- Inclusivity: Designed to be inclusive, with a focus on enabling financial inclusion for underserved communities around the world. It aims to provide equal access to financial services for everyone, regardless of their location or socio-economic status.
- Ecosystem: With a large and active community of developers and users, it has a very strong ecosystem. There are also a number of projects and companies that are building on top of the CELO platform, which helps to drive adoption and development of the platform.
The current price of Celo in January 2023 is below $0.498 per CELO, which puts it far below its all-time high of $7.6.
What is Polygon (MATIC)
Polygon, formerly known as the Matic network is a cryptocurrency that is built on the Ethereum network and is used to facilitate transactions on the Matic Network, a layer 2 scaling solution for Ethereum. The Matic Network is designed to allow for faster and cheaper transactions on the Ethereum network by using sidechains to process transactions off-chain.
MATIC and the Matic Network were developed by a team of blockchain developers and researchers led by Jaynti Kanani, who serves as the CEO of Polygon.
The native token of the Polygon Network is MATIC
Why Polygon made it onto the list
Here are some of Polygon’s strengths:
- Scalability: Polygon uses sidechains to scale the Ethereum network, which allows for faster and cheaper transactions compared to the Ethereum mainchain.
- Usability: It provides a set of tools and libraries that make it easier for developers to build and deploy their own blockchain applications.
- Compatibility: Polygon is designed to be fully compatible with the Ethereum ecosystem, which means that developers can use the same tools and technologies to build on Polygon that they use to build on Ethereum.
- Security: The MATIC token is used to secure its network and to incentivize the participants who validate transactions and maintain it. This helps to ensure the security and integrity of the Polygon Network.
- Decentralization: Polygon is a decentralized platform that is built on the Ethereum network, which means that it is not controlled by any single entity and is instead maintained by a decentralized community of participants.
- Community support: It has a strong and active community of developers, users, and supporters who are helping to drive the development and adoption of the platform.
The current price of Polygon in January 2023 is below $0.80 per MATIC, which puts it far below its all-time high of $2.92
What is COTI (COTI)
COTI is a blockchain platform that aims to provide a decentralized infrastructure for digital currencies and payment networks. The platform is designed to be scalable, fast, and cost-effective, and it uses a unique consensus algorithm called “Proof of Transaction” to validate transactions on the network.
COTI was founded by Shahaf Bar-Geffen, who serves as the company’s CEO. COTI was incorporated in 2017 and has offices in London and Tel Aviv.
COTI has its own cryptocurrency called the COTI coin, which is used to facilitate transactions on the platform and to incentivize the participants who validate transactions and maintain the network
Why COTI made it onto the list
COTI is focused on providing solutions for the payments industry and aims to enable the creation of customized payment networks and digital currencies for businesses, governments, and other organizations.
Here are some of COTI’s strengths:
- Scalability: It is designed to be highly scalable, which means that it can handle a large number of transactions per second.
- Cost-effectiveness: COTI is a cost-effective platform for conducting transactions, with low fees and fast transaction times.
- Security:u They use a unique consensus algorithm called “Proof of Transaction” to validate transactions on the network, which helps to ensure the security and integrity of the platform.
- Customization: COTI enables the creation of customized payment networks and digital currencies for businesses, governments, and other organizations. This allows organizations to tailor the platform to their specific needs and requirements.
- User-friendliness: They have developed a range of products and services that are designed to be easy to use for both businesses and consumers, including a digital wallet, a point-of-sale system, and a merchant dashboard.
- Industry focus: It is focused on providing solutions for the payments industry, and has developed a range of products and services that are specifically designed for this market.
The current price of COTI in January 2023 is below $0.052 per COTI, which puts it far below its all-time high of $0.68
The right exchange for the job!
We have looked at some great potential investments today! They all have practical applications, widespread adoption, and a high potential for growth.
The key is in their utility
Wherever possible I recommend self-custody, but using the right exchange does make all the difference! You can check out our full article comparing the top crypto exchanges, or simply consider our top picks:
With an easy user interface, high leverage, and lots of pairing options
Lots of options, including non-mainstream tokens, staking, DE-FI, and crypto cards
Our top pick for US & Canadian citizens. With lots of options and low trading fees!
Be sure to also check out our other articles on Crypto. We break complex topics into practical and neatly organized content, to save you time and help you grow!
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