2023 is turning out to be a positive year for crypto, with various tokens showing double-digit growth. You might be wondering which coins you should look out for in 2023. There are several tokens and coins to choose from and we understand that finding the next golden goose can be difficult.
But if you can drastically increase your chances of getting your hands on the right token with a little bit of effort. All you need to do is to check out the following aspects of the tokens to get a fair idea of how your preferences will perform in the coming weeks and months.
1.  Security
We all have heard of scams like rug pulls and exploits in the crypto sphere and if you feel jittery about some tokens, we understand that. One way to comfort yourself is to go through the crypto’s whitepaper and website. Try to find out if the token has gone through any code audits.
The testing firms are professionals with expertise in penetration and stress tests. Their audit report will have all the details of any issues detected and their severity.
2.  Sustainability
A massive rally is always appreciated. After all, who doesn’t like their assets going straight up in value?
However, you do have to look at the crypto’s overall services, specifically what pain points its platform solves or intends to address. This gives sustainability to the token’s life. A massive rally without any practicality of the coin is just setting it up to crash back as token holders will move on.
3.  Developers’ Reputation
Just as a crypto’s sustainability is essential, its developers’ reputation is also crucial in determining whether you should invest your money in it or not. Before you choose any crypto, have a look at the team behind the coin. Who are they, what is their background and what are their intentions are some questions you should ask.
Check out the crypto’s website and white paper for the answers. Or go to public forums to find other investors to discuss this.
4.  Token Use Cases
Just like a crypto ecosystem should be addressing a pain point, the token should also have practical use within the protocol or the platform.
Simply acting as a medium of value transfer may not be enough. Look for staking or governance options. If there is more than one use case, the coin will have multiple demands from different users, giving it more value over time.
5.  Market Addressability
A secure coin, having reputable developers and multiple use cases, but the industry it serves is small, isn’t going to make it big. The industry’s size is going to limit its adoption.
That means looking parallel to the traditional industry is important too. After all, that is where the user influx is going to come and give it sustainability and long-term performance.
Help Me Find Such Tokens, please!
Do you find all of this exercise a bit too much of a hassle? Lucky for you, our in-house experts have created a small list of the 5 most likely tokens that have the potential to rise steeply this year – perhaps even doing 30x.
- Uwerx (WERX): Uwerx will have everything: Two audits from InterFi Network and SolidProof, voting, 78 million addressable global users, and multiple services that aid gig economy workers, a DAO and no taxes. We strongly believe it is the best option, especially since its WERX token is in presale for just $0.012.
- Beldex (BDX): Offering privacy in the open Web3 environment, Beldex (BDX) offers VPN, private chat, and much more. Big names like Gate.io, Perfect Nodes have partnered with it and Beldex (BDX) is also audited.
- GALA (GALA): GALA (GALA) is the first name many think of when it comes to Web3 and games. The platform hosts several AAA-level games and is already expanding to other media like music and movies.
- The Sandbox (SAND): Another GameFi platform, The Sandbox (SAND) is all about anyone building their own game and even joining other games.
- Lido DAO (LDO): Helping people enter the realm of Ethereum staking, Lido DAO (LDO) helps them bypass the 32 ETH requirement and at the same time keeps their investments liquid. It also offers liquidity staking for Polygon, Solana, Polkadot, and Kusama networks.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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