10 New Altcoins to buy Now in the Bear Market: January 2023
2022 has been more bear than bull. Entire year, we saw cryptocurrencies dropping in value, but things started slowly changing from November 2022 and in January 2023, altcoins are all poised to give good returns. Altcoins after dropping by 80-98% is showing the early signs of reversal. And as someone who has spent more than 5 years in this market, I can say that altcoins when invested in the bear market can give gains that can help us reach financial freedom. But the problem is a lot of investors love investing on Altcoins in the bull market, but are fearful during the bear. This makes it a perfect time to accumulate altcoin and sit for 3-5+x gain.
Here in this post we are going to discuss some of the top altcoins you can buy in January 2023 that can give more than 100% gain.
What are Altcoins?
Altcoins, as the name suggests, are all cryptocurrencies other than Bitcoin.
Today’s crypto asset ecosystem is significantly more diverse. Other currencies and tokens have use cases that go well beyond that of a medium of exchange, therefore they are not necessarily Bitcoin competitors.
Some altcoins use alternate consensus algorithms to validate transactions and create new blocks, while others seek to distinguish themselves from Bitcoin and Ethereum by offering new features or functionalities.
The vast majority of altcoins are produced and distributed by developers that have a certain vision or goal in mind for their tokens or currencies.
While many altcoins are majorly launched with money grabbing intention, there are some legit altcoins that have real use cases, and are a solid buy in this bear market.
10 Altcoins to buy in January 2023
Crypto runs on narrative and theme. And the next theme could well be decentralised leverage trading platform. Earlier we saw rise of layer 1 protocols, followed by crypto exchanges. ETH, SOL, BNB, all fetched more than 100x returns for early investors. Similarly, we need to prepare for the next narrative.
And in this altcoins bucket list, we have selected a lot of crypto derivatives platform tokens, that we believe could give enormous returns in 2023. You may DYOR from the list and invest in the ones that you think are the best fit.
Without wasting any more time, let’s go ahead with my list of the top 10 cryptocurrencies to invest in January that could fetch great returns.
Gains Network is basically a crypto derivative leverage trading platform built on Polygon blockchain, where users can trade in futures, in a decentralised manner. Much like Binance futures, but decentralised. They are developing gTrade, a liquid, robust, and user-friendly decentralized leveraged trading platform. The carefully created synthetic architecture of gTrade makes it the most capital-efficient platform accessible today. This allows for low trading fees and a wide range of leverages.
UFO Gaming is a cutting-edge gaming company founded by a group of gaming and cryptocurrency aficionados with years of experience in their respective fields.
So what UFO Gaming does is it helps web 2.0 gaming company move to web 3.0, so that the players can earn beside just playing the game.
Participating in UFO Gaming requires the creation of playable characters in the form of non-fungible tokens known as UFO. This is performed by using the UFO token to harvest the in-game utility points known as Plasma Points.
Hegic is a peer-to-peer options trading platform based on Ethereum blockchain that simplifies complex financial products and allows average individuals to gain more while paying less. The hedging contracts are supported by the liquidity they hold as well as the Ethereum Virtual Machine (EVM), which runs the code autonomously. The HEGIC token is an ERC-20 utility token that is used to disperse all settlement fees equally among all token holders. Currently, the platform has more than 1.2Billion USD in total cumulative options trading volume.
Where to buy Hegic: Kucoin, Uniswap
Virtua is just a gamified metaverse with socially engaged Web3 games, digital collecting, and interactive experiences. The Virtua metaverse is ready to open, and users will be able to join a brand-new dimension, a gamified environment with high realism that feels authentic and offers completely new experiences, within a few months. The whole Virtua metaverse will be gamified, with varying values and resources for land parcels.
Premia is a decentralized options market built on a pool-to-peer architecture, similar to Uniswap or SushiSwap. Premia is propelled by a financial infrastructure that provides all users with permissionless access to the major DeFi products. The Premia network makes use of social media network capabilities, such as a Telegram channel where users may receive quick updates, to improve accessibility and usability.
Where to buy Premia: Sushiswap, BKX
X2Y2 is a non-fungible token marketplace with the goal of developing a truly decentralized NFT market and handing it back to the community. On X2Y2, you can trade NFTs for free. The market’s smart contract, frontend, and backend are all created independently. It basically claims to be “by the people, for the people.” You can also take a NFT loan, borrow and lend ETH and many more.
GAMEE is a mobile gaming platform that allows you to earn money by playing. They seek to recognise and reward hard effort, talent, and devotion. They hope to educate mainstream gamers on the benefits of blockchain technology. Players will receive GMEE Tokens as incentives for playing games on the GAMEE platform. The tokens will be used to pay entry fees for special tournaments and will contain governance features like as voting on GAMEE game roadmaps and prize pool distribution.
Where to buy GMEE: Kucoin, Uniswap
A secure and effective technique for traders or other applications to short or long any trading pair on DEXs is using the permissionless lending margin trading protocol known as OpenLeverage. OpenLeverage’s long-term objective is to provide institutional and retail clients with decentralised crypto securities services by fusing decentralised lending, derivatives trading, and asset management infrastructure with the global DeFi ecosystem.
Solana’s first Live-to-Earn metaverse is Realy Metaverse. Realy Metaverse will develop a 3A-visualized virtual city in the skies using Unreal Engine. Really emphasizes street culture by adding real-world names into the Metaverse such as fashion companies, graffiti artists, fashionable toy manufacturers, rappers, and skateboard brands. Users will be engaged in street cultures and will realize their dreams. The REAL coin will be the core infrastructure layer for all cryptocurrency activities.
Where to buy REAL: FTX, Raydium, ByBit, MEXC
Built on Ethereum, Lyra is an open system for trading options. Using the first market-based, skew-adjusted pricing methodology, Lyra enables traders to purchase and sell options at realistic prices. In addition to quantifying the risks experienced by liquidity providers and actively hedging them, Lyra encourages new liquidity to enter the protocol by actively hedging these risks.
Warning: Altcoin Investment in Risky
Please understand investing in altcoins is HIGHLY RISKY. It can erode your portfolio by 90-98% or more. So, you need to be careful, and plan accordingly. From your portfolio, you can take 5-10 percent out and invest in these altcoins. Ofcourse, you can adjust the percentage depending upon your risk appetite. The point I am trying to make is you need not invest a lot of money in risky low marketcap altcoins. A small investment in these cryptocurrencies can make a significant impact on your overall portfolio. Also know, not all these projects will succeed. Even if 3 projects out of these 10 projects give 20X return, you will up be more than 600%
Anyway, that’s all for now. Drop us in comments, which cryptocurrencies from the above list do you think are a good buy for January 2023.