- Here are the top 5 cryptocurrency investing possibilities for Africans in 2023.
- The organization behind the ranking is Global Business Magazines.
- The finest cryptocurrency alternatives are chosen for the list based on a few factors, including price activity.
For many people throughout the world, trading cryptocurrencies has been a top source of passive income in recent years.
However, cryptocurrency in Africa has been, to put it mildly, an interesting topic. The majority of people on the continent, with the exception of a tech-savvy minority, are unaware of how cryptocurrencies operate, and in some areas, their use is illegal.
Some people who have a basic understanding of how blockchain technology works have benefited from this new market trend. While some people perform their financial transactions using digital money, others who are less conversant with blockchain technology have opted to stay with conventional financial procedures.
However, cryptocurrency trading and use are becoming more popular on the continent, and if someone decides to investigate it, it is crucial to comprehend the workings of this financial avenue. Numerous African nations already have millions of cryptocurrency dealers. Here is a list.
The top 5 safest cryptocurrencies to invest in as the new year begins are listed below. Global Business Magazine, a journal devoted to highlighting the accomplishments of game changers in different industries, put together the list.
The list was compiled after taking into account a number of variables, including price movement and the applicability of the underlying blockchain technology.
Note: Trading cryptocurrencies has the risk of both potential gains and losses. Similar to stock investment, investing in cryptocurrencies has a significant financial risk, so it is advisable to only trade when you have extra money available.
The greatest and/or safest bitcoin investment options are listed here, regardless of your level of experience trading cryptocurrencies.
What is the Top 5 Cryptocurrency for Africans in 2023?
1. Bitcoin (BTC)
Anyone who has even the remotest understanding of cryptocurrencies must be familiar with Bitcoin (BTC). This is due to the fact that it is the greatest and most used cryptocurrency worldwide.
Additionally, it is supported by one of the most decentralized and practical blockchain technologies, with a massive adoption rate. The price of BTC is anticipated to increase 5000% to $1 million at the turn of the decade.
2. Ethereum (ETH)
Ethereum (ETH) is a different currency with a good reputation. One of the most resilient cryptocurrencies, it has experienced many market crashes and a gain of more than 500000% since entering the market. If you purchase ETH now, it is predicted that your investment would increase by up to 8000% by the time it reaches $100,000.
3. Apecoin (APE)
The newest cryptocurrency on the list is apecoin (APE), which was introduced in 2022. However, the fact that Meta started it and that it has been doing amazingly well since then lends credibility to it. It recorded a stellar performance and hit a record-breaking $39. At the turn of the decade, this digital money is predicted to surge over $300, increasing any investment by up to 10,000%.
4. Binance (BNB)
Another relatively new cryptocurrency that has been operating for around five years is Binance Coin (BNB). Its initial coin offering (ICO) price has climbed by 450,000% and peaked in 2021. Due to its tremendous expansion, it now lists almost all of the most well-known cryptocurrency exchanges. It is accepted as a payment mechanism by many retailers worldwide and is supported by a reliable crypto ecosystem.
5. Cardano (ADA)
Cardano (ADA): This cryptocurrency was the largest smart contract platform using the proof of stake consensus process, and it is debatably the most secure blockchain technology available today. Cardano has weathered many market crashes, like the majority of the other currencies on this list.
It is predicted that by the turn of the decade, this cryptocurrency would have increased any investment by more than 10,000% and reached a price of $50.
Leave a Reply