What Happened To Crypto In 2023
Crypto boomed in the year 2022, but suddenly there are so many countries that banned cryptocurrency like India, which is one of the biggest GDP countries. So now so many people have questions in 2023, what happened to crypto in 2023, does it is still safe to invest in cryptocurrency in 2023?
These are question is the most asked question by beginner crypto investors. so hi everyone I am Ashish a financial advisor. today in this article I am going to clear your all question about what is crypto and what happened to crypto in 2023, and does it is safe to invest your money in crypto in 2023.
What Is Crypto?
In simple words, crypto is a digital currency, which works on blockchain technology. don’t be afraid of the word blockchain. you can simply understand it, as computer technology.
So just like there are so many currencies for their own country to trade something, crypto is also a very simple currency from which you can trade something, and also you can invest your normal currency into it and when the value of this currency increases you can get benefits from it.
Why Do People Invest In Crypto?
there are so many advantages and benefits of investing in crypto, but one main benefit is that its rate always fluctuates, and we see in some 10-year-old data, crypto value is increased even a thousand times compared to its initial value.
This much fluctuation and variation had not been seen in a normal currency like the dollar and rupee. so people invest in crypto and when the price increases then they sell it higher than their invested value.
Stats Of Some Crypto Coins
if you don’t know, how much crypto price varies in some years, then see some of the famous crypto coins’ price history, to understand that crypto coins can change someone’s life completely.
In July 2010, bitcoin began trading at US$0.0008 and now in 2023, its one-coin price is 29,089.30 USD. Another very famous coin Ethereum, since its creation in 2015, Ethereum was under $1. now in 2023 one Ethereum coin price is 1,899.62 USD.
History Of Crypto
Crypto was started in 2009 by Satoshi Nakamoto, and six years later second most famous and most expensive crypto coin Ethereum was made in 2015. after that so many crypto coins are made and there are so many potentials that some of them will grow even a thousand times their initial value price.
News Of Crypto In 2022
This was the year all cryptocurrency was booming over the internet. when so many new people discover crypto and start investing their money in cryptocurrency. also, there are so many crypto coins that were made and launched for investment by people. but this same year eight countries have banned crypto trading or restricted it severely. and many myths started on social media, that crypto has no more safe and no more future. so let’s understand does it is right or wrong.
What Happened To Crypto In 2023
In 2023 the craze of crypto goes down, and people become busy with other things like FIFA, and cricket. but this is not the first time when negative news about crypto had been sprayed on social media or on the internet. but the fact is that no matter what cryptocurrency value goes down, it increases after some time.
So if you have the mindset of being a long-time investor, just like there are so many millionaires and billionaire still holding their money in crypto that crypto will grow more in the future, you should also invest your money in crypto and stayed a long time until you get good return of your investment value.
Here Are Some Famous People Who Have Holding In Crypto Till Now
- Elon Musk
- Snoop Dogg
- Paris Hilton
- Gwyneth Paltrow
- Bill Gates
- Serena Williams
- Floyd Mayweather
- Kanye West
Elon Musk’s company has purchased $1.5 billion in Bitcoin. There are no exact details about their value investments, but we are sure that they made a huge profit with it.
Is It Safe And Good To Invest In Crypto In 2023?
Cryptocurrency is safe and secure, and crypto has a very bright future, that’s why so many famous people have invested large amounts of money in it. so you should definitely invest some amount of money from a long-term investor perspective. because short-term investment in cryptocurrency required so much experience and also has very high risk.
Top 10 Best Crypto Coins To Invest IN 2023
1 – Bitcoin (BTC)
Market cap: $543.4 billion
2 – Ethereum (ETH)
Market cap: $220.4 billion
3 – Tether (USDT)
Market cap: $81.8 billion
4 – Binance Coin (BNB)
Market cap: $50.6 billion
5 – U.S. Dollar Coin (USDC)
Market cap: $30.4 billion
6 – XRP (XRP)
Market cap: $23.9 billion
7 – Cardano (ADA)
Market cap: $13.4 billion
8 – Dogecoin (DOGE)
Market cap: $10.9 billion
9 – Polygon (MATIC)
Market cap: $8.9 billion
10 – Solana (SOL)
Market cap: $8.7 billion
How To Invest In Crypto In 2023?
To invest in crypto in 2023, you should open an account on a crypto exchange website or application. there are so many famous websites and applications for cryptocurrency exchange but my favourite is Binance. because this application is mostly used by people. and it has both a web version and an app version.
Precautions Before Investing In CryptoIn 2023
Before investing your money in crypto, take care of something. first thing, do not share your user id and password with anyone. second thing, before investing your money understand the risk management and how long you can stay in the market. and the third and most important thing is that become a long-term investor if you want to get better returns, and avoid risk.
A good investor never invests his all money in a single place, his portfolio is always diversified. and good investors think about and have the patience to stay in the market. so it is a very good thing to invest some amount of money in crypto in 2023, it has a very bright future, just like the stock market. if you have any queries or suggestions then please drop them in the comment box. thank you so much for reading our articles.