Explore the 12 Best Crypto to Buy Now in September 2023. Gain insights, mitigate risks, and seize opportunities in this dynamic crypto market.
With the cryptocurrency market being uncertain, many people who invest in cryptocurrencies are wondering whether it’s time to sell to prevent more losses or if the market will bounce back soon.
While it’s true that cryptocurrencies have historically recovered from downturns, not all of them bounce back strongly. Some remain in a weak position after a market slump. That’s why it’s crucial to pick high-quality cryptocurrencies that can survive tough times and thrive in the future.
We’ve looked at 200 of the most popular cryptocurrencies based on factors like how easy they are to buy and sell, their technology, how important they are in their respective industries, and other key factors. You can learn more about how we picked them later in this article.
Our research led us to a list of 12 cryptocurrencies that seem like great investment opportunities right now. We regularly update the top three on this list to keep up with the latest developments in the cryptocurrency and blockchain worlds.
1. Bitcoin (BTC)
Bitcoin, often referred to as “digital gold,” remains the most recognized and dominant cryptocurrency in the market. As of September 2023, Bitcoin’s market capitalization surpasses all other cryptocurrencies, and its position as a store of value is undisputed. With a limited supply of 21 million coins, Bitcoin continues to attract institutional investors, further legitimizing its role in the global financial system. It’s often seen as a hedge against inflation and economic uncertainty.
One significant development in the Bitcoin ecosystem is the increasing acceptance of Bitcoin as a payment method by major companies, including Tesla, PayPal, and Square. This trend may contribute to Bitcoin’s growth in value and adoption.
While Bitcoin is generally considered a relatively stable cryptocurrency, it’s important to note that it can still experience price volatility. Therefore, investors should approach it with a long-term perspective.
2. Ethereum (ETH)
Ethereum, often dubbed “the world computer,” holds the second-largest market capitalization in the cryptocurrency space. Ethereum’s primary appeal lies in its smart contract functionality, which allows developers to build decentralized applications (DApps) on its blockchain.
In September 2023, Ethereum is undergoing a significant upgrade called Ethereum 2.0, which aims to improve scalability and reduce energy consumption. This upgrade is eagerly anticipated and could enhance Ethereum’s position as a foundational blockchain for DeFi (Decentralized Finance) and NFT (Non-Fungible Token) applications.
Ethereum’s DeFi ecosystem has exploded in recent years, with projects like Aave, Compound, and MakerDAO offering decentralized lending, borrowing, and yield farming opportunities. Additionally, NFTs, which have gained immense popularity, primarily operate on the Ethereum blockchain.
Investors interested in Ethereum should keep an eye on its upgrade progress, as it could influence its price and long-term viability.
3. Cardano (ADA)
Cardano has been a standout performer in the cryptocurrency market, gaining momentum thanks to its commitment to sustainability, scalability, and interoperability. Cardano’s unique approach to development involves a scientific peer-reviewed process, ensuring the highest standards of code quality.
One of the most significant milestones for Cardano is the Alonzo upgrade, which brings smart contract functionality to the platform. This upgrade has sparked renewed interest in ADA, as it allows developers to build decentralized applications on Cardano, similar to Ethereum.
Cardano’s focus on developing countries and its partnerships with governments to create blockchain-based solutions for public services further cement its position as a promising blockchain project. As the Cardano ecosystem continues to grow, ADA may see increased demand and adoption.
4. Solana (SOL)
Solana is one of the newer entrants to the cryptocurrency scene but has rapidly gained attention due to its high-speed and low-cost blockchain. Its unique consensus mechanism, known as Proof of History (PoH), enables Solana to handle a high volume of transactions quickly and efficiently.
Solana’s ecosystem has flourished with various DeFi and NFT projects built on its platform. Projects like Serum and Mango Markets have gained popularity for offering decentralized trading and yield farming opportunities.
The scalability and low transaction fees of Solana make it an attractive choice for developers and users alike. However, it’s essential to monitor Solana’s network for potential congestion or security issues, as rapid growth can sometimes come with technical challenges.
5. Polkadot (DOT)
Polkadot is a unique blockchain platform designed to connect multiple blockchains, allowing them to interoperate and share information. It offers a heterogeneous multi-chain framework, making it easier for developers to create custom blockchains tailored to specific use cases.
Polkadot’s technology addresses the issue of blockchain scalability and offers a robust security model. It has also gained traction in the DeFi space, with projects like Acala and Moonbeam building on the Polkadot network.
As interoperability becomes increasingly important in the blockchain ecosystem, Polkadot’s role in connecting different blockchains could lead to significant growth in its adoption and value.
6. Avalanche (AVAX)
Avalanche is another blockchain platform known for its speed and efficiency. It employs a consensus mechanism called Avalanche consensus, which allows for quick confirmation of transactions and finality.
The Avalanche ecosystem has seen substantial growth, with various DeFi and NFT projects emerging. Projects like Pangolin and Benqi have attracted users with their decentralized exchange and yield farming opportunities.
What sets Avalanche apart is its commitment to sustainability and green energy. As environmental concerns gain prominence, blockchain platforms like Avalanche that prioritize energy efficiency may see increased support and adoption.
7. Chainlink (LINK)
Chainlink is a decentralized oracle network that bridges the gap between smart contracts on the blockchain and real-world data sources. It’s an essential component of the DeFi ecosystem, providing reliable and tamper-proof data feeds to smart contracts.
In September 2023, Chainlink continues to be a vital infrastructure project for the blockchain industry. As more applications and projects rely on Chainlink’s oracles, the demand for LINK tokens grows.
Chainlink’s partnerships with leading blockchain projects and its role in bringing real-world data to the blockchain make it a valuable asset for investors interested in the long-term potential of decentralized applications.
8. Binance Coin (BNB)
Binance Coin, the native cryptocurrency of the Binance exchange, has seen remarkable growth in recent years. Binance Smart Chain (BSC), powered by BNB, has become a hub for DeFi and NFT projects due to its low transaction fees and fast confirmation times.
Binance’s extensive ecosystem includes decentralized exchanges (DEXs) like PancakeSwap and Venus, making BNB a popular choice for users looking to participate in DeFi activities.
Binance’s ongoing development efforts and its central role in the cryptocurrency exchange industry position BNB as a strong contender for growth in the cryptocurrency market.
9. Tezos (XTZ)
Tezos is a blockchain platform known for its self-amendment capabilities and focus on decentralized governance. It employs an on-chain governance model that allows token holders to propose and vote on protocol upgrades.
Tezos has seen increasing interest from developers and organizations looking to leverage its blockchain for various applications. Its adaptability and ability to evolve through community-driven upgrades make it an intriguing choice for those interested in the long-term evolution of blockchain technology.
As decentralized governance gains prominence in the crypto space, Tezos’ unique approach may continue to attract attention and investment.
10. Polygon (MATIC)
Polygon, previously known as Matic Network, aims to address Ethereum’s scalability issues by providing Layer 2 solutions. As Ethereum’s network becomes congested, Polygon offers faster and cheaper transactions, making it an attractive choice for DeFi and NFT projects.
Polygon’s ecosystem includes projects like Aavegotchi and QuickSwap, which offer decentralized gaming and trading experiences. Its collaboration with Ethereum projects further solidifies its role as a scaling solution for the Ethereum network.
As Ethereum continues to transition to Ethereum 2.0, Layer 2 solutions like Polygon may bridge the gap and offer enhanced scalability, making MATIC a cryptocurrency to watch.
11. VeChain (VET)
VeChain focuses on supply chain management and offers transparency and traceability for products and goods. It uses blockchain technology to verify the authenticity and origin of items, making it a valuable tool for enterprises and consumers.
VeChain’s partnerships with major companies, including Walmart China and BMW, have propelled its adoption in the real world. As supply chain solutions powered by blockchain gain traction, VET may see increased demand.
Investors interested in VeChain should consider its real-world utility and the potential for further adoption by industries seeking to improve transparency and trust in their supply chains.
12. Theta (THETA)
Theta Network is at the forefront of the decentralized video streaming industry. It aims to revolutionize online video content delivery and consumption by incentivizing users to share their bandwidth and computing resources.
In September 2023, Theta’s technology and partnerships with major players in the media and entertainment industry continue to make it a compelling investment. Its native token, THETA, plays a crucial role in securing the network and rewarding participants.
As online video streaming becomes an integral part of our lives, Theta’s unique approach to content delivery may lead to significant growth in its ecosystem.
Optimal Cryptocurrency Choices for Long-Term Investors
For investors looking to take a passive, long-term approach to crypto holdings rather than engage in active trading, a wise decision awaits. This path allows you to avoid the constant monitoring required by the ever-evolving crypto and blockchain landscape.
When venturing into long-term crypto investments, it is advisable to focus primarily on well-established cryptocurrencies like Bitcoin and Ethereum. While they still carry inherent risks, their fundamentals are considerably more robust than those of projects reliant on a small group of developers and community leaders.
To secure your crypto investments effectively over the long haul, we endorse safeguarding your assets with a hardware crypto wallet. Among the array of high-quality hardware wallets available, Ledger’s devices emerge as our top choice.
Our Method for Selecting the Best Cryptocurrencies to Invest In
In a market inundated with thousands of cryptocurrencies, narrowing down the selection to a handful is no small feat. Our goal was to present a diverse range of cryptocurrency projects, encompassing both well-established entities and more speculative ventures with significant upside potential. Here are the criteria we considered when curating our cryptocurrency list:
- Accessibility: A cryptocurrency’s availability on various exchanges, both centralized and decentralized, was a crucial factor. We also assessed whether the cryptocurrency could be directly traded against fiat currencies, simplifying the buying and selling process.
- Market Capitalization: While a substantial market capitalization doesn’t guarantee high quality, it does indicate strong community interest. Cryptocurrencies with larger market caps tend to be more resilient against market manipulation due to their substantial capital requirements.
- Sector Leadership: The crypto market features various sectors, such as Proof-of-Work and Proof-of-Stake cryptocurrencies, decentralized finance, non-fungible tokens, layer 2 projects, meme coins, and more. We aimed to spotlight projects that lead in their respective sectors to illustrate the breadth of the crypto and blockchain landscape.
- Working Products: We prioritized cryptocurrencies with existing working products, avoiding those solely reliant on future promises. When dealing with tokens, we focused on utility tokens in functioning products or governance tokens in actively used decentralized protocols. Occasionally, we included projects with imminent mainnet launches, but only among top-tier, highly anticipated ventures.
- Team and Development: Transparency regarding the team and their credentials was essential. We favored projects led and managed by highly qualified individuals, with a strong emphasis on ongoing development activity. However, we recognized that anonymity among a project’s team or founders wasn’t an absolute dealbreaker, considering the example of Bitcoin’s anonymous creator.
The Bottom Line: Choosing the Right Cryptocurrency To Buy Now
Determining the best cryptocurrency to buy now largely hinges on your individual risk tolerance and investment objectives. If you seek cryptocurrencies with long-term potential and stability, established options like BTC and ETH may be your preferred choices.
For those with a higher appetite for risk, exploring cryptocurrencies priced below 1 cent or engaging in the latest crypto presales can be enticing. Nevertheless, always remember that the cryptocurrency market’s extreme volatility entails substantial risk. Conduct thorough research, assess your financial situation, and refrain from investing more than you can afford to lose.
As we step into September 2023, the cryptocurrency market remains a dynamic and promising arena. Yet, it’s essential to approach crypto investments with caution, recognizing the market’s volatility and speculative nature.
Remember that the crypto market is subject to regulatory shifts, technological innovations, and shifts in sentiment. While these factors present challenges, they also offer opportunities for growth and innovation. By staying informed and making reasoned investment choices, you can navigate the crypto market with confidence and potentially reap the rewards of this ever-evolving financial landscape.