5 Most Popular Cryptocurrencies In Europe In 2023
Let’s be honest and admit that digital assets are the thing of the future, something that has revolutionized our financial and economic system and something that will definitely shape the world we live in for future generations.
Regardless of whether you are fond of this fact or not, it does not make much difference, the world is already changing, and cryptocurrencies have a tremendous role in that. Now, on the other hand, even though more than a decade has passed since the BTC has seen the light of the day, many are still hesitant to invest in cryptos, and the biggest reason for that is uncertainty, or to be more precise, volatility.
The larger the risk, the larger the potential profits
We must agree that cryptocurrencies are highly volatile, and their value can dramatically change in a matter of hours, but there are positive aspects even to that. Namely, the fact that their value can rise or drop so rapidly also means that there is a much better chance to enlarge your overall profits and get rich in a matter of weeks by taking calculated risks.
Of course, let’s reserve this for more experienced crypto traders, as even though the higher the risk, the higher the possibility to win big, it also means that the chance to lose all is also much greater.
That is why if you are new to all this or still do not have that much experience in dealing with cryptos, it’s better to stick with coins that are most stable and you know more about, as in knowledge and instinct lays the profit.
On the other hand, the best and safest way to determine which crypto is the best one to invest in is by checking what are currently the most popular ones. Now, there are two ways to do that, and you can either click here and keep up with the latest crypto news or keep reading as we will further present the top five most popular cryptocurrencies in Europe in 2023.
There is something about Cardano that makes crypto investors drawn to it, and even though it is the first one that has utilized a proof of stake system, it’s much more than just that. Of course, the fact that with proof of stake, you get a much better and more even competition on which computer will solve complex cryptography puzzles and verify the transactions, and as a reward, will get a token, surely helped in terms of popularity.
It’s mostly because this system provides a much better chance to mine some coins, as it is more about tokens and less about how much equipment you have. On the other hand, its modest yet regular and stable growth has also drawn many to invest in it, as it has proved to be a type of investment that is much less risky.
Understandably, this can also change, especially due to many studies and predictions stating that its value will spike in 2023, which is why it is so popular in Europe, among all other things.
Most of you are already familiar with ETH being a favorite of program developers, especially because of NFTs, but besides all that, it’s also about its value, as it has experienced huge growth in the past couple of years.
In comparison to BTC, it’s still far behind, but unlike Bitcoin, its value is more stable and less prone to rapid changes. All of this combined helped ETH a lot to become the number two coin in the world in terms of popularity and overall value.
When talking about cryptos, you need to know that there are thousands of coins out there and that they all differ. The main thing that makes this one stand out from other coins is that it is backed by fiat currencies like pounds and dollars, and if you are really new to all this, this fact makes it a stablecoin.
The whole point of Tether is that it’s supposed to be more stable than any other coin out there, as its value is equal to the currencies that support it.
Another thing to keep in mind about USDT is that it is hosted on ETH and BTC blockchains and that its tokens are issued by a company located in Hong Kong. Yes, this might sound too complicated but only at first, but once you dip your toe into the crypto world, all of this will get much easier and clearer.
This list would simply be incomplete if we didn’t mention the famous Bitcoin, the one with whom it all started. Yes, the BTC is not just the most popular and widely known crypto, and it is also the most profitable, especially if you boarded the BTC train a while ago when its price was only a few bucks. But, even today, although its value is around 38000 dollars, it’s still the most popular coin of it all, and for plenty of reasons.
Among the fact that it gives out a vibe of a more secure and stable coin than any other, a factor that makes Bitcoin so popular even today is the predictions. Yes, we have all heard the famous projections that its value will reach several hundreds of dollars by the end of 2023, but even if you don’t believe in that, you must notice how there is nothing standing in the way of BTC becoming dominant in the crypto world in the years to come.
We agree that much of it has already been mined, but the whole system is designed in such a way that the last BTC will be mined approximately in 2140. That is why its value will only increase in time, and it simply cannot drop, meaning that even buying it today or a decade from now will still be profitable in the long run.
Now this one is for those more fond of taking risks. We mention this because it’s probably one of the hottest coins out there currently, and its value has spiked rapidly, even though it is a pretty new coin (launched just two years ago).
The system behind it is much different than any other on this list, and it’s because it is a functional open-source project that uses DApps. Yet another way it differs is in the validation system it uses, as it runs on a unique hybrid proof-of-stake and proof-of-history mechanisms.