Top 5 Recession-Proof Cryptocurrencies To Buy And Hold In 2023 - Our Picks
These are our top picks for the best recession-proof cryptos to buy and hold in 2023.
Ethereum - The top blockchain and smart contract platform with massive growth potential.
Polygon - The crypto has positioned itself for long-term success.
EOS - A must-buy recession-proof crypto to buy now.
Avalanche - Numerous collaborations have positioned this crypto as the best long-term investment.
Binance Coin - One of the fastest-growing cryptos in the market.
A Closer Look At The Top 5 Recession-Proof Cryptocurrencies To Buy And Hold In 2023
Undoubtedly, the crypto market has flourished over the past few years, creating millionaires. But 2022 has been a challenging year for digital currencies, and the threat of recession is continuously looming above the market. With inflation remaining sky-high, investors are trying to get their hands on the best crypto investment options.
However, let’s see how these potentially rescission-proof crypto coins could help investors in boosting their portfolios against inflation.
Ethereum (ETH)
Ethereum has marked its footprints in the list of sustainable cryptos in 2022 with the launch of The Merge. The update has been touted as one of the biggest innovations in the history of crypto. The transition from a Proof-of-Work network to a Proof-of-Stake has not only made it energy efficient but reduced gas fees and enhanced scalability. ETH could be the best recession-proof crypto to buy and hold in 2023 as the network is set for new updates and developments in the future.
Ethereum hosts over 3,000 dApps on its network. It has also gained much from the growth of NFTs, most of which are built on the Ethereum network. With more projects being developed on the blockchain and decentralized finance gaining ground over traditional finance, Ethereum has positioned itself as one of the ideal long-term investment options.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC)
Polygon was created specifically to scale Ethereum and enhance the network’s infrastructure, making transactions cheaper and quicker. A significant reason for its fast and scalable blockchain is MATIC's Proof-of-Stake architecture to process transactions. Analysts predict that even after the Merge, Polygon will continue to develop and support Ethereum.
MATIC came to the limelight earlier in 2022 as the team behind Polygon announced its plans to go carbon-negative and climate positive in the future. This alone could help drive Polygon’s adoption from investors across various verticals.
Also, Polygon experienced its mainnet execute one of the biggest upgrades recently. The Ethereum Improvement Proposal 1559 aims to begin burning MATIC tokens as part of every transaction. This makes the token deflationary and opens up the possibility of it skyrocketing in value in time.
The power to trade NFTs on its network has also worked positively and favorably for MATIC. The crypto received support from big brands like Adidas and Prada in an NFT charity project called Adidas for Prada Re-Source. Additionally, partnerships with well-known brands like Disney and Coca-Cola have made Polygon the best recession-proof crypto to buy and hold in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
EOS (EOS)
EOS has gained the attention of the masses with its multibillion-dollar ICO. The crypto also got listed in numerous top exchanges soon after its inception. The blockchain aims to empower industrial-scale decentralized applications, striving to offer user-friendly and business-friendly tools to build dApps. It can process over 100,000 transactions per second, making EOS one of the fastest blockchain networks in the market.
EOS started trading on investors’ radar with the launch of its successful consensus upgrade to Antelope’s Leap 3.1. The upgrade has made the network transform into an independent, more decentralized, and fully self-sustained platform. The enhanced network would eventually drive adoption, which is one of the many reasons EOS could be a recession-proof crypto to buy and hold in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche (AVAX)
Avalanche aims to make smart contracts and dApps easier and quicker to use for the wider public. It is a high-performance, scalable, customizable, interoperable, and secure blockchain platform. The AVAX token has strong support from big names in the market, as the crypto has successfully completed several successful fundraising rounds in the past. The Avalanche Foundation aims to collaborate with various high-end projects in the future, making AVAX the best recession-proof crypto to buy and hold in 2023.
Avalanche was all about DeFi in 2021, but in 2022 a key reason to buy AVAX is the growth of GameFi. It is a form of online gaming in which users earn crypto rewards for playing games. Reports show that a significant amount of new daily transaction volume is coming from gamers. Further boosting its adoption, high-profile games like DeFi kingdom are choosing Avalanche for its speed and low fees.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
A significant part of BNB’s popularity and market dominance comes from the crypto exchange, Binance, one of the largest exchanges in the world, with over thousands of dApps to its name. BNB tokens would be burnt in a systematic phase-wise process, which would bring stability, and avoid sudden market fluctuations, making it one of the best recession-proof crypto to buy and hold in 2023.
BNB could be a worthy addition to your portfolio now as Binance Labs, the ecosystem’s venture capital arm, has already announced its investment in the decentralized exchange (DEX) PancakeSwap’s CAKE token. Boasting over 400,000 daily active users, PancakeSwap has become the largest decentralized application on the BNB Chain.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Inflation, recession, and federal regulations are continuously hovering around the crypto sphere lately. If you are looking for the top recession-proof cryptos to buy and hold in 2023, these are your best choices.
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