The 5 Best New Cryptos to Diversify Your Portfolio in 2023 and Beyond

In ideal circumstances, going big and investing in a single cryptocurrency could end up being a great decision. But what if your chosen coin goes through a downturn or doesn’t rise in line with the rest of the market? This is exactly why it’s so important to be looking at the best cryptos to buy to diversify your portfolio. 

The starting point to diversification is going over the different coin types and then looking for the best examples of each. Maybe now you’re wondering which tokens offer a good level of diversification and have the potential for real profit in the future. This article will examine 5 investment options to help you diversify. 

1. Metacade (MCADE) Has Been Getting Investors Excited

We’re going to start this list off strong with our top metaverse coin choice, MCADE. Right now, the Metacade project is turning a lot of heads for its ambitious scope and attractive tokenomics model that arguably makes its native coin, MCADE, the best crypto to buy into right now.

Metacade is striving to be a Web3 community-centric hub that unites gamers and crypto fans from all over the scene. With its retro arcade theme, Metacade promises to not only deliver exclusive gaming titles, but also offers amazing chances to earn hefty rewards – through P2E, competitive tournaments and exciting prize draws. 

The community isn’t just limited to competitions either. There are plans to reward users simply for contributing to the value of the platform – each time they write a review, a playthrough, or share some tips on something GameFi related, they get the chance to earn even more MCADE tokens.

In aiming to become the ultimate gaming hub, Metacade’s ambition is to stand tall as a community-centric platform – built for, and evolved by its very users. Gamers will have a unique opportunity to directly influence which titles they want to see. Through a funding initiative program called Metagrants, developers to pitch their new game ideas to the community at large and gamers will vote on which ones they want to see put into reality. 

Metacade’s token presale already is in full swing, blazing through its initial stages. While 2022 has seen the majority of tokens out there suffers losses, the intrinsic value in this project offers concrete support, even if the market surrounding it struggles to get going. The platform doesn’t need to rely on market sentiment, instead it offers its users genuine value in an all-inclusive community-driven service that they want to get onto and use. 

Looking at all this together, it’s easy to see why MCADE took the number one spot for best crypto to diversify your portfolio.

>>> You can participate in the Metacade pre-sale here <<<

2. Ripple (XRP) Provides Fast Transfers

Ripple (XRP) is best known for its widespread use for money transfers. Many banks and other financial organizations have signed up to use the Ripple settlement system, although it’s worth pointing out that most don’t actually use XRP tokens.

This has been one of the most-hyped digital tokens for a while now, but there have also been a few setbacks that have caused its price to rise and fall. For example, Ripple has run into some unresolved regulatory issues that sparked major concerns for investors. As such, the coin’s price is likely going to be held back until this matter is resolved one way or the other.

There’s still clearly a strong reason or two why the XRP token has been so talked about and that’s because of its potential to provide fast and virtually cost-free transfers around the world. If they can sort out the issues holding it back, this could be a useful addition to your portfolio this year, but only time will tell how much.  

3. Litecoin (LTC) – Like Bitcoin But Faster

Litecoin was launched in 2011, making it one of the earliest forms of decentralised digital currency. It’s fair to say that it hasn’t had the same publicity or hype as Bitcoin. Regardless, many people point to its speedier processing times and lower transaction costs to say that it should and will be worth more than BTC.

In fact, LTC uses the original Bitcoin source code and, technically speaking, is the result of a Bitcoin fork. Some changes to that original code make it faster and lighter, which means that it is extremely well suited to its use as a peer-to-peer money transfer token that people can start using with more ease than other tokens.

With 84 million LTC tokens in the total supply, this remains a widely-used token but there has been concern over its falling price in recent times. There’s no single reason why Litecoin hasn’t overtaken Bitcoin, but for some reason, it’s never had the same mainstream appeal of BTC. That being said, it can still provide an alternative investment in a neatly diversified portfolio.

4. Binance Coin (BNB) Is a Utility Token

Why would you be interested in investing in the Binance Coin (BNB) when you’re looking for the best cryptos to buy and diversify your portfolio? One of the key points about this token is that it isn’t just a currency like Bitcoin or Litecoin. Instead, BNB is a utility token that can be used within the Binance system. This means that it doesn’t rely solely on market forces to determine its value. Instead, BNB can gain or lose value based on the demand for it in the Binance Chain ecosystem.

You can hold it as an investment like any other crypto, but it can also be used to pay fees or to take part in token sales, among other things. This token has had a difficult year so far in 2022 but it’s an interesting option worth taking into account when you want to diversify.

5. Monero (XMR) Has a Focus on Privacy

This virtual currency has become best known for its strong focus on the privacy of its users. As such, a lot of investors think that it will grow in value if people start to put even more focus on keeping their details hidden when moving money. The XMR coin has one of the biggest communities in the crypto world, which is another important point that could help to see it grow in the next year or so.   

Monero does have a few downsides, however. Some investors are put off by the fact that Monero is allegedly used widely on the dark web since its transactions are almost impossible to track. This may have given it a poorer reputation, although there’s nothing illegal or untrustworthy about XMR itself.

The project was launched in 2014, and the fact that the number of tokens is technically unlimited has led to it becoming popular among miners. One potential dark cloud on the horizon is that the IRS is looking for a way to trace Monero transactions and has hired contractors in the past to try and do this.

Why Diversification Is So Important to Your Portfolio

Diversification is one of the key aspects of any type of investing. Having a well-diversified portfolio lowers the holder’s risk because it means that you reduce the changes of all of your assets to be affected by the same market forces. For instance, if the stock market crashes, you’ll lose a lot if you only hold stock, but if you also hold bonds and commodities, like gold, this will soften the blow. 

With the cryptocurrency market, some people make the mistake of thinking that they’re all the same. Yet, it’s clear from this article that digital currencies can vary greatly. This means that they may be affected by different market factors that will affect the price of some but not others. 

Which is the best coin to invest in?

Diversifying your crypto holdings is essential but everyone needs to find their own way of doing this that suits them. By considering the best cryptos to diversify that we’ve looked at here, you can get off to a solid start.

As with any type of investment, it makes sense to carry out plenty of research, to see which ones suit you as the best crypto to buy and how much to put into them. You might also find that you prefer to regularly move the money between different tokens according to the changing face of the market. 

The other big question is how much of your overall portfolio you want to put into cryptos. This mainly depends upon your risk appetite, as these tokens are usually highly volatile and can give you big profits or cause you to lose you money if you enter the market at the wrong time. That being said, coins connected with the metaverse are in a great position, especially coins like MCADE.

Let’s imagine that 2023 turns out to be the year that the metaverse explodes in popularity, which is certainly possible given how so many people are talking about it and how much money is being invested right now. Of course, this might not have a massive impact on tokens like Bitcoin and Litecoin, but the top metaverse coins are the most likely to benefit from this trend. 

With gaming being a significant feature of the crypto space, what better place to invest than a Web3 gaming hub? That’s why MCADE in particular, is poised for massive growth in this sector. Knowing this, it seems like now is the perfect time to get in on the Metacade presale, which has a limited 1.4 billion tokens available.

You can participate in the Metacade pre-sale Metacade here.

This news is republished from another source. You can check the original article here