Crypto – Management Library

October 16, 2022March 27, 2023

The 6 Best Meme Coins for Every Type of Investor

Gold and black dogecoin (meme coin) on a dark background

The first iterations of cryptocurrency appeared online in 2009, but the trend erupted in popularity several years later, as Bitcoin became a viable financial asset. The ascent of cryptocurrency intersected with the virality of memes when Dogecoin appeared on the market in 2013, introducing the world to one of the best meme coins.

Though they began as a joke, meme coins are now some of the most valuable, and fast-growing cryptocurrencies available. Find out which meme coins are best, and the best crypto exchanges where you can buy them.

6 Best Meme Coins

Dogecoin: Best Overall
Shiba Inu: Best Long-Term Investment
Safemoon: Best for Exclusivity
GamingDoge: Best for Community
Akita Inu: Best for Sustainability
Samoyedcoin: Best for Efficiency

Top 6 Meme Coins Comparison

Dogecoin

Dogecoin is the most widely available meme coin.

Dogecoin typically boasts the highest and most stable valuation of any meme coin.

Dogecoin is the meme coin most likely to yield lucrative returns.

Shiba Inu

Shiba Inu is available on ShibaSwap, Coinbase, Binance, Kraken, and eToro.

Shiba Inu is second only to Dogecoin in terms of value and stability.

Shiba Inu is the best meme coin for staking your investment.

Safemoon

Safemoon is available on PancakeSwap and Binance.

Safemoon has been volatile thus far in both its valuation and its stability.

Safemoon doesn’t have a clear purpose or appeal beyond its exclusivity.

GamingDoge

GamingDoge is available in PancakeSwap and Binance.

GamingDoge’s value and stability are not particularly volatile, but it’s too new to predict its potential.

GamingDoge is great for crypto investors who are dedicated gamers, too.

Akita Inu

Akita Inu will be available on its own decentralized exchange. It can also be bought via Binance, or indirectly on Coinbase.

Akita Inu is too new to make predictions about its value or stability.

Akita Inu’s pledge to carbon neutrality is great, but it does not necessarily translate to success for investors.

Samoyedcoin

Samoyedcoin is available on its own decentralized exchange, but it has limited availability elsewhere.

Samoyedcoin has maintained a comparatively low value, despite major fluctuations.

Samoyedcoin’s use of the Solana blockchain makes it unique, and may set it up for future success.

Dogecoin – Best Overall Meme Coin

4.82

★★★★★

Visit

Why Dogecoin Is Best Overall Meme Coin

Dogecoin is the original meme coin, and as the first of its kind, it’s also become the best. This is largely due to its strong foundation of backing tech. It utilizes the Scrypt algorithm to generate hash cryptography, and it draws on coding from Bitcoin to make it more secure.

Despite the currency’s origin as a joke, these features point to serious potential on the crypto market — and right now, it’s poised to exceed its potential.

Accessibility

When Dogecoin emerged, it was intended as a parody of Bitcoin, but its real potential became clear as its meme-ified facade drew buyers in. Indeed, Dogecoin has been called “the people’s crypto,” and it’s the most accessible of all the meme coins. It’s available to buy, sell, and trade on all major crypto platforms, such as Coinbase, Binance, Kraken, and eToro.

Stability

Its greatest weakness — and strength, some would say — is the unlimited Dogecoin mining capacity that users can exploit. This contributes to its accessibility, but it’s not beneficial to its overall stability. Indeed, it makes the currency vulnerable to massive inflation from so-called pump-and-dump schemes.

This happens when buyers invest in a large quantity of a currency in order to artificially increase its price, and then immediately sell in order to make a profit. Despite this, it’s remained relatively stable, thanks to many buyers who have held their investments long-term.

Value

Dogecoin’s value has fluctuated widely since its introduction, but it boasts one of the highest values of all the meme coins, indicating that it’s a good investment for potential growth.

Community

The Dogecoin community is known to be one of the most welcoming and newbie-friendly. Unlike many other cryptocurrency communities, it doesn’t take itself too seriously, and it encourages investors of all experience levels to get involved.

Anybody who’s new to trading crypto can find support and guidance from the Dogecoin community. Its only downside is that it’s smaller than many other crypto communities, meaning there may be fewer resources available.

Security

Dogecoin piggybacked off of many features of Bitcoin, including its robust security network and its maintenance of a dedicated blockchain. Its digital ledger is regularly updated, too, so that all transactions are unique and secure. Some users say that it’s second only to Bitcoin in terms of security.

Recognizable “brand name” meme coin
Community is constantly growing
Can be traded via decentralized exchanges
Coded similarly to Bitcoin, so it’s familiar
No limits imposed on mining practices

No mining limits, so no scarcity
Technical support is lacking
Not ideal for completing transactions

Shiba Inu – Best Meme Coin for Long-Term Investment

4.74

★★★★★

Visit

Why Shiba Inu Is the Best Long-Term Investment

Shiba Inu coin emerged in 2020 as the so-called Dogekiller because of its apparent aspiration to displace Dogecoin as the top meme coin. It hasn’t done that yet — or even come close — but that doesn’t mean it isn’t still a valuable investment.

In fact, it’s one of the best investments for those interested in long-term gains. Soon after its inception, strategists took note of several unique features that may make it the best meme coin for long-term staking and holding.

Accessibility

Like its predecessor and inspiration Dogecoin, Shiba Inu coin is a highly-accessible cryptocurrency. In addition to its availability on the internal ShibaSwap decentralized exchange, users can access the coin through Coinbase, Binance, Kraken, and eToro.

Each of these platforms has its own minimum purchase amount, though, so users should research their options before buying.

Stability

Yet another important feature of the Shiba Inu coin is its stability. Given the newness of the currency and its consistently low price — one coin has yet to hit $.01 in value — it’s demonstrated a remarkable resilience to inflation. This is largely due to the limits that are placed on the coin. Unlike its competitor, Dogecoin, the Shiba Inu coin’s supply is finite which makes it a deflationary cryptocurrency.

Users can mine a supply of just one quadrillion tokens, and there are currently only 550 trillion of those in circulation. This means that there is still plenty of work to be done in mining the rest of the supply; the Shiba Inu coin is likely to remain relatively stable in the meantime.

This stability — and the rewards users can earn for staking — make it the best long-term investment. Staking happens when users buy coins and lock them away to earn interest or garner a reward. Shiba Inu rewards stakers with 3% to 5% APR returns, making it a great option for those seeking a viable investment out of their meme coin.

Value

Unfortunately, Shiba Inu coin can’t compete with Dogecoin where it matters most — value. Despite all of its benefits, this meme coin has yet to break even $.01 per token in value. This means that users have to buy massive quantities to see meaningful returns, but it also means that it’s an accessible option for beginner investors.

Community

Shiba Inu has boasted a small, yet strong community since it was first introduced. Its proponents are vocal, and its internal platform is an easy-to-navigate home base. This community is arguably even stronger than that of Dogecoin, but it is smaller, making it less resourceful than the communities surrounding other cryptocurrencies and meme coins.

Security

Shiba Inu coin is a modulation of the ERC-20 token, meaning that it’s based on the popular Ethereum ecosystem. This lends the coin an ample security framework, and its blockchain is just as secure as the token itself. Its use of smart contracts further allows the coin to be used safely in conjunction with decentralized applications.

Fixed supply protects from inflation
Three different tokens in the ecosystem
Users can gain rewards for staking
Highly liquid, so it’s easily transacted

Consistently low price and low value
Low price may make it more volatile
Considered a lesser knockoff of Dogecoin

Safemoon – Best Meme Coin for Exclusivity

4.68

★★★★★

Visit

Why Safemoon Is Best for Exclusivity

Cryptocurrency enthusiasts often fall into one of two camps — those who want to educate people, and those who want to gatekeep their success. Users who are in the latter category may be drawn to the exclusivity of Safemoon.

With its mysterious background and indistinguishable purpose, buying Safemoon tokens may feel like joining a secret club. It’s no secret, though, and there’s a lot more you should know about where Safemoon is headed.

Accessibility

Despite the air of exclusivity that Safemoon gives off, it’s not entirely inaccessible. In fact, because it’s processed on the Binance Smart Chain, it may even be easier to buy than some other tokens.

Users who want to buy Safemoon can do so via the project’s own decentralized exchange, PancakeSwap, as well as on Binance, but it’s currently not available on Coinbase, Kraken, or eToro.

Stability

One of the biggest risks associated with Safemoon is its questionable stability, which is one of the cons of all cryptocurrencies. It’s yet to be seen how well the currency will retain its value. Its history so far, though, indicates that it may be susceptible to pump-and-dump fluctuations.

This, of course, is both a benefit and a liability. Those users who get in on a massive rush can stand to make enormous profits, but those who don’t will be stuck with considerable losses. Safemoon may be too vulnerable to inflation to maintain its stability.

Value

Much like its stability, the long-term value of Safemoon can’t be determined yet, but there is some indication that it may be lower than other meme coins’. Many users have questioned the utility of the coin — and whether it has any clear purpose — which has led its value to flounder, when it’s not in the midst of a major spike.

Community

A Safemoon community certainly exists, but it’s not known as the most welcoming or resourceful within the crypto world. In fact, it reinforces the coin’s reputation as an exclusive token. Safemoon investors are incentivized to hold their tokens for long periods, and this can contribute to a lack of newcomers joining the community.

Security

Safemoon runs on the Binance platform, and utilizes a centralized blockchain to generate its tokens. This means that users will need to trust Binance — but luckily, there’s no reason not to. In fact, this feature may make it more secure than other offerings.

Potential for massive profits
Plans for positive social impact
Educational resources available
Creators regularly burn tokens

No truly unique function
Class-action lawsuit pending
Allegations of internal fraud

GamingDoge – Best Meme Coin for Community

4.22

★★★★★

Visit

Why GamingDoge Is Best for Community

There’s not much known about the soon-to-be-fully-launched GamingDoge coin. It’s an altcoin based on Dogecoin, of course, but it’s not yet popular enough to warrant much more information. That said, everything that is known highlights one standout feature — a focus on community.

The creators of the coin say, in fact, that they “want to make [the] Doge community and Gamers proud,” and it looks like they will. If the meme coin’s social media following is any indication, its community is already thriving.

Accessibility

GamingDoge coin can currently only be bought in two places — the PancakeSwap platform, and directly from Binance. This makes its accessibility somewhat lacking, compared to coins that can be bought on Coinbase, Kraken, or eToro — but it’s still easy enough to find, if you want to get your hands on some tokens.

Stability

GamingDoge was launched at the very end of 2021, and it’s still not fully up and running with the community and features that its creators have planned. For this reason, it’s hard to rate its stability — there just isn’t enough information. Investors should keep an eye out for signs of inflation.

Value

GamingDoge’s value is pretty low, but that’s what you’d expect from a brand-new meme coin that hasn’t fully launched yet. Investors shouldn’t be alarmed by the low conversion rate. There’s plenty of potential for its value to grow once it becomes a more established currency on the crypto market.

Community

Community is where GamingDoge truly shines. Its creators made this the central focus of the coin by providing investors with a self-contained ecosystem that supports gaming as much as it supports tokens.

The ultimate goal of the community is the development of proprietary, crypto-based video games that will allow users to win NFTs and tokens in exchange for playing. This is a promising frontier for any token to enter, and if there’s any chance of success, it will likely be guided by GamingDoge.

Security

GamingDoge is based on the Binance blockchain, and, like Safemoon, employs a centralized system for mining. Its security isn’t as robust as more established cryptocurrencies, but there are no known security issues at this point, either.

Focus on improving its community
Ecosystem built on decentralized exchange
Plans to integrate with NFT marketplace

Not yet fully launched
Little information available
Not widely available yet

Akita Inu – Best Meme Coin for Sustainability

4.02

★★★★★

Visit

Why Akita Inu Is Best for Sustainability

Akita Inu is one of several altcoins that followed Dogecoin, and each has seemingly lost a portion of its novelty as the meme-coin format becomes increasingly mainstream. Akita Inu has found a way to revitalize this appeal by emerging as the first meme coin committed to carbon neutrality.

Indeed, the elimination of carbon emissions is the hallmark of its Algorand blockchain basis. This makes it the obvious choice for the most sustainable meme coin.

Accessibility

Akita Inu can be indirectly bought on Coinbase, directly on Binance, or via its own platform — but otherwise, it’s difficult to find. You won’t find tokens on top sources, such as Kraken or eToro.

Stability

Because it’s so new and still not widely accessible, it’s difficult to assess the stability of Akita Inu. It’s comparatively stable to other new meme coins, though, with its short history indicating both spikes and lulls.

Value

Akita Inu’s pledge to animal welfare and environmentalism understandably won the hearts of many investors. As a result, its value started off higher than what many other introductory meme coins could achieve. This value has not necessarily grown exponentially, though — and it’s still ultimately very low, compared to the rest of the crypto market.

Community

The Akita Inu community is united by its love of dogs and its passion for the environment. Unsurprisingly, a community with these shared values is remarkably strong.

It may be the most passionate meme coin community, but it’s not big enough to rival the likes of GamingDoge and other community-based coins. That may change in the near future, though, as Akita Inu continues to gain traction.

Security

Akita Inu’s security is comparable to any other meme coin, and is perhaps even marginally better. It’s based on the Algorand blockchain, which claims to have better cryptographic tech and security features than some of the other most popular platforms.

Built on Algorand blockchain
Community is completely decentralized
Some proceeds go to animal-welfare charities
Carbon neutrality
Low fees

Charity work is the main appeal
Not necessarily a lucrative option for investors
Too new to have much data about

Samoyedcoin – Best Meme Coin for Efficiency

3.92

★★★★★

Visit

Samoyedcoin – Best Meme Coin for Efficiency Review

Why Samoyedcoin Is Best for Efficiency

Samoyedcoin became the proprietary meme coin of blockchain Solana when it launched in mid-2021, and quickly became one of the network’s most successful launches to date. It mimicked the format and structure of similar meme coins, but, like Akita Inu, offered a series of altruistic pledges to draw in buyers.

Among these was a commitment to eco-friendly initiatives, as well as a partnership with animal-welfare charities. The most important feature of Samoyedcoin, though, is its claim to be the fastest-transacting dog coin on the crypto market. Samoyed is incredibly efficient, thanks to its utilization of the Solana network.

Accessibility

Samoyedcoin is available on both centralized exchange platforms and smaller, decentralized exchange platforms. This versatility gives buyers the advantage of choice, but it’s still not a widely-available coin. You won’t find it on Coinbase, Binance, Kraken, or eToro, but you have a better chance on crypto exchanges with the most coins.

Stability

One of the greatest vulnerabilities of Samoyedcoin thus far is its relative instability in terms of valuation. Upon its release, it achieved a higher-than-average initial value, but this has since fluctuated widely, making it difficult to predict the future of the coin.

Value

Despite an unpredictable valuation, Samoyedcoin offers a viable investment for anybody seeking an incredibly affordable entry into meme coins. Its volatile value may be scary for some investors, but it offers an opportunity to hit a home run if the conditions are right.

Prices are low enough to justify a low-stakes investment, and the potential is good enough to make it worthwhile.

Community

Samoyedcoin has a strong community, like many other meme coins based on idealistic goals. Its users are committed to animal welfare and environmentalism, just as the coin’s creators are.

If these causes don’t speak to you, though, that’s okay — there’s still room in the Samoyedcoin community. Users take pride in welcoming new members, sharing crypto tips, and providing guidance for investments.

Security

Like any other blockchain, Solana is vulnerable to certain compromises, but it’s been compromised more than some of its competitors. This could be a problem for Samoyedcoin in the future, but right now, there haven’t been any notable breaches to speak of.

Built on Solana blockchain
Designed to be highly scalable
Available on centralized and decentralized exchange platforms
Claims to offer the fastest transaction speeds

Appeal is mostly based on its novelty
Insufficient data available, due to newness
Valuation has been highly volatile

How We Chose the Best Meme Coins

Choosing the best meme coins was difficult, but we carefully considered a wide range of factors before making our selections. Some of the various criteria that were brought into account include the following:

The general history of each coin
How widely available it is
The strength of its blockchain
Overall quality of its community
Potential for future growth
Ability to withstand fluctuations
Association with special causes

These features were all considered carefully in relation to each entry on this list. Those meme coins that satisfied multiple criteria were selected as the best meme coins on the crypto market.

Best Meme Coins Buying Guide

Since the introduction of Dogecoin, the crypto world has been inundated with a wave of copycats seeking to recreate its success. Some of these are successful, and others have proven to be a fluke. The six meme coins contained on this list fall into the former category, though.

With unique features, robust security, and strong potential returns, you can feel good about exploring crypto investments with any of these meme coins. If you still have questions, though, check out the following FAQs for some answers.

Can You Make Money off of Meme Coins?

Yes, absolutely! Many people have seen substantial returns from investing in meme coins. Of course, the opposite is also true, so you should be careful about investing any sum of money that you would be uncomfortable losing. Investing in meme coins is a lot like gambling.

How Do Meme Coins Work?

Meme coins work essentially the same as any other kind of cryptocurrency. The primary difference is that they typically aren’t designed for use in commercial transactions and exist solely to be bought, sold, and traded within the crypto community. Because of this, they tend to be more volatile, but profits may also be higher.

Meme coins can be obtained through centralized exchange platforms, which are typically managed by the blockchain provider, or decentralized exchange platforms, which are usually based on peer-to-peer transactions.

What Is the Best Meme Coin for Investors?

The best meme coin for investors depends on what kind of investor you are. You may get bigger returns from a meme coin that’s more unpredictable, but generally, the best bet is the most stable, and that’s the original Dogecoin.

Do Meme Coins Have an Unlimited Supply?

When they were first introduced, meme coins were notable for their unlimited supply of tokens. This is no longer standard, though, with meme coins such as Shiba Inu intentionally capping their supply. Shiba Inu also incentivizes users to burn their supply, so that the value is driven up further.

Where Do I Buy, Sell, or Trade Meme Coins?

There are many platforms you can choose from to buy, sell, or trade your meme coins. One of the first was Coinbase, which offers an array of resources to new and experienced buyers alike. Other platforms, such as Binance, Kraken, and eToro, offer attractive benefits and an array of meme coins to choose from, too.

How Do I Choose the Best Meme Coin for Me?

Choosing the best meme coin is a matter of priority. If you’re enticed by the idea of investing in tokens that allow a portion of proceeds to fund animal welfare, then Akita Inu or Samoyedcoin is the coin for you. Conversely, if you want to invest in the safest option on the market, Dogecoin is likely the best.

What the Best Meme Coins May Be the Future

Meme coins started off as a joke intended to subtly mock cryptocurrencies like Bitcoin. The joke is over, though, now that these currencies have become a substantial part of the crypto market themselves. If you’re looking for the best meme coins, any selection on this list will offer a promising entry into the world of crypto.

August 2, 2022February 16, 2023

10 Best Countries for Cryptocurrency – Crypto Laws, Taxes & Adoption

Cryptocurrency has been around for long enough that almost every country has passed legislation on it. While some of the best countries for cryptocurrency took a more relaxed approach and allowed it to thrive, other countries have imposed strict crypto regulations. A few, including China, Egypt, and Qatar have even outright banned cryptocurrency.

The 10 Best Countries for Cryptocurrency in 2023

If you’re an investor or looking to start a business in the crypto sector, you’d ideally want to be located in a crypto-friendly country. We’ve studied regulatory laws, taxes, adoption rates, and other facts and figures from different countries as part of our methodology.

Here are the 10 best countries for cryptocurrency:

El Salvador
Singapore
Slovenia
Portugal
Switzerland
Germany
Malta
Estonia
The Netherlands
Canada

But what makes these countries best for crypto? The table below summarizes some of the most important facts and figures to consider.

El Salvador

No taxes for foreign investors

60%

212

BTC accepted as legal tender

Singapore

No capital gains tax

22%

8 (temporarily closed)

Crypto companies are regulated

Slovenia

No capital gains tax or VAT on crypto

10%+

Ljubljana named the most crypto-friendly European city of 2022

Portugal

No capital gains tax or VAT on crypto

2.5%

Golden Visa program for crypto investors

Switzerland

No capital gains tax for private investors

11%

149

Zug named as Crypto Valley

Germany

No long-term capital gains tax

Views crypto as private money

Malta

No long-term capital gains tax

N/A

Binance is based in Malta

Estonia

No VAT on crypto

Crypto-friendly legislation

The Netherlands

Crypto taxed as an asset

FATF-approved crypto regulation

Canada

Crypto taxed as an asset

3.2%

2525

Crypto-friendly banks

Now that you have an overview of what makes these countries ideal for crypto trading, investing, and businesses, let’s take a deeper look at each one of them.

1. El Salvador

The Central American nation is the first in the world to adopt Bitcoin as a legal tender. This means all businesses within the country must accept payment in BTC. This has also inspired several other countries to move toward accepting crypto as legal tender, however, it comes with its limitations.

El Salvador - a woman stands in front of a Bitcoin vendor

El Salvador also hopes to transform its digital economy by attracting crypto businesses and investors. Foreign investors don’t have to pay any capital gains or income tax on crypto. So if you’re based outside the country and are looking to avoid taxes on crypto, El Salvador might be the perfect place for you.

The country has a pro-crypto leadership under President Nayib Bukele who aims to take the small Central American forward in this sector. With BTC adopted as legal tender, the country has more than 4 million crypto users which are approximately 60% of its total population.

2. Singapore

Singapore is one of the most developed Asian economies and is an attractive destination for crypto investors from around the world. Not only is the Southeast Asian country a global fintech hub, but its openness to cryptocurrency makes it a great place to start a certified crypto business.

Singapore has no capital gains tax which means you don’t have to pay crypto taxes on trading profits. Not only that, crypto transactions are seen as barter trade and are not taxed in the country. That said, you still have to pay income tax if you earn in cryptocurrency.

Singapore’s central bank has a positive outlook on crypto. It states the blockchain ecosystem be closely monitored to prevent illegal activity but innovation should be welcomed. This is why it’s a great place to establish a legal crypto or blockchain company that’s supported by regulatory bodies.

3. Slovenia

The small Central European country has emerged to be a crypto haven with tax write-offs on cryptocurrency trading and no VAT on mining. You can even consider it the most crypto-friendly European country as its government officially encourages the transition to blockchain tech.

Slovenia has the highest market capitalization of crypto and other blockchain projects per capita, representing a high success rate of blockchain startups in the country. The government has eased crypto regulations to a large extent which is a welcoming gesture for crypto companies and investors from around the globe.

The Alpine country is also home to the most crypto-friendly European city of 2022, Ljubljana, Slovenia’s capital and largest city. The city has hundreds of vendors accepting crypto payments. Europe’s largest crypto-based shopping, leisure, business, and innovation center, BTC City is a classic example of Slovenia’s trend toward crypto adoption. The shopping center has 500+ stores accepting cryptocurrency payments.

While the country has no capital gains tax and no mining VAT, you still have to pay a significant 25% income tax if you mine crypto. Still, Slovenia is arguably the most attractive destination for crypto enthusiasts and investors in Europe.

4. Portugal

It wouldn’t be wrong to say that Portugal is the best crypto tax haven in the world right now. The country has no capital gains tax on crypto trading as long as you’re not a professional trader. So whether you trade crypto-crypto or crypto-fiat, you’re exempt from taxes.

Portugal’s crypto tax-free environment and progressive laws like the 2020 Digital Transitional Action Plan are attracting businesses and investors from around the world. Not only that, the country has also initiated a Golden Visa program whereby non-EU residents can gain a residency permit and a Portuguese passport if they make a qualifying investment.

5. Switzerland

Switzerland is world-renowned for its low-tax, high-privacy banking system. However, it has also stepped up in the world of crypto with very relaxed regulations for crypto companies and investors.

Town of Zug in Switzerland crypto valley

Switzerland is not the most crypto tax-free country on this list, but it’s still fairly friendly when it comes to cryptocurrency tax rates. The country sees crypto as an asset and BTC is recognized as legal tender in some areas. If you’re interested in cloud mining, the thriving Swiss crypto mining industry is an excellent market to start.

If you’re trading crypto privately and not on a professional level, you don’t have to pay any capital gains tax. However, crypto income through professional trading is taxed.

Switzerland is also home to Zug, a small city named Crypto Valley for its high concentration of blockchain businesses. Companies including the Ethereum Foundation and other fast-growing cryptocurrency companies like Cardano, Dfinity, Bancor, and Tezos are based in Zug.

6. Germany

Germany stands out for its unique approach toward cryptocurrencies. Unlike most other countries on this list, Germany doesn’t recognize crypto as an asset but rather as private money.

German flag - German is one of the best countries for cryptocurrency

If you’re a long-term investor, there’s no better country for you as Germany has no long-term capital gains tax. This means if you hold cryptocurrency for more than a year, the capital gains tax on it is waived. You still have to pay income tax and short-term capital gains tax.

The German capital, Berlin, is also a crypto hotspot being home to several blockchain companies including blockchain operating system, EOS, and cryptocurrency IOTA. It was also one of the first cities to accept crypto payments.

7. Malta

The small island nation of Malta has gained popularity in the realm of crypto for its openness toward blockchain technology. With its progressive legislation, the country has managed to attract a range of crypto companies including one of the best crypto exchanges, Binance.

Blockchain island in Matla - Best countries for cryptocurrency

Investors won’t have to pay a long-term capital gains tax on their crypto holdings. However, they still have to pay crypto income tax depending on what bracket they fall in. The Maltese government has passed several bills aimed to make the country an even more attractive destination for cryptocurrency businesses.

8. Estonia

Estonia aims to revolutionize its economy by attracting tech companies from all over the world with relaxed regulations and pro-privacy laws. It’s one of the few countries where crypto companies can operate legally with sound regulations. Moreover, the country is also looking at launching a national cryptocurrency, Estcoin.

Estonia isn’t a great choice if you’re looking to avoid taxes as crypto gains and income are taxed the same way as any other business activity. The country’s finance sector is also pro-crypto. Estonian LHV Bank was one of the first in the world to start working with blockchain technology.

9. The Netherlands

The Netherlands has always taken a positive approach towards new concepts, and cryptocurrency adoption is no exception. It’s one of the most welcoming European countries for crypto investors and organizations as it doesn’t hold any strict regulations against virtual currencies.

The Dutch government has ensured they follow FATF (Financial Action Task Force) guidelines in regulating crypto. This makes the Netherlands a great place to establish a blockchain organization if you prefer international certification.

10. Canada

Canada is home to a strong Bitcoin community. The country has always had an open approach toward cryptocurrencies and there’s no legislation that objects or restricts the use of crypto. Although recent laws have tried to centralize the Canadian crypto market, the government still welcomes the technology and acknowledges it as the way forward.

Canada, one of the best countries for crypto

Crypto companies are classified as Money Service Businesses (MSBs) in Canada. Such entities must register themselves with the Financial Transaction Analysis and Reporting Center of Canada (FINTRAC) to operate legally in the country. Although this presents a hurdle, it allows blockchain companies to work legitimately in Canada.

That said, Canada has one of the highest numbers of BTC ATMs in the world which represents the large scale at which the country’s moving towards virtual currencies. Not only that, several Canadian banks allow crypto transactions which makes life much easier for investors and businesses alike.

All Countries Where Trading Crypto is Illegal

Cryptocurrency has its pros and cons. One of the latter is that not all countries welcome it. Due to its volatility, decentralized, and anonymous nature, some governments see the new technology as an easy way to launder money and other criminal activities. This is why you’d come across countries that heavily restrict or completely ban the use of crypto.

Countries with Legal Restrictions on Crypto

The following countries restrict or implicitly ban crypto trading. In such states, financial institutions are restricted from dealing with crypto wallets and exchanges.

Bahrain
Burundi
Cameroon
Central African Republic
Gabon
Georgia
Guyana
Hong Kong
Kuwait
Lesotho
Libya
Macao
the Maldives
Vietnam
Zimbabwe

Countries with Absolute Bans on Crypto

Here’s the list of countries that have placed complete bans on crypto trading.

Algeria
Bangladesh
China
Egypt
Iraq
Morocco
Nepal
Qatar
Tunisia

Why are Developing Countries Leading the Race to Crypto Adoption?

If you look at the Global Crypto Adoption Index, you’ll be surprised to find that more than 90% of the top 20 countries are developing economies. Nigeria leads the way with India and Pakistan in second and third spots.

Not only that India has the highest number of crypto holders in the world at around 100 million. Nigeria, Brazil, Ukraine, Pakistan follow close behind. Pakistan has a staggering 9 million crypto users which represents more than 4% of its total population. This begs the question, why do developing economies lead the way in crypto adoption rather than the US and European countries?

A Lack of Alternative Investment Opportunities

Countries like Nigeria, Pakistan, and even Afghanistan are among the top 20 countries in crypto adoption. A lack of alternative investment opportunities is one glaring reason why these developing economies have such a large share of crypto investors.

Crypto is an international market and gives investors from around the world equal investment opportunities. Investors from underdeveloped countries see it as a chance to trade on the same market as traders from highly developed economies operate on.

Crypto as a Hedge Against Inflation

A significant proportion of countries leading in crypto adoption are also facing very high inflation. Digital assets, especially deflationary cryptocurrencies, are seen as a good way for investors to retain their net worth.

Note that the countries with the highest percentage of crypto users or countries leading in crypto adoption aren’t the most crypto-friendly either. India, for example, plans to introduce a law that might completely ban crypto use. Similarly, Nigeria doesn’t have a very pro-blockchain government either.

How We Ranked the Best Countries for Cryptocurrency – Methodology

Not all the facts and statistics we needed to rank the best countries for cryptocurrency are readily available. This made our evaluation a bit more difficult, but we managed to gather the required statistics from different sources. We accounted for several implicit and explicit factors in our methodology. These include:

Regulatory laws: Laws passed on cryptocurrencies are the most important factor when it comes to evaluating the crypto-friendliness of a country. While countries like El Salvador pass legislation to recognize BTC as legal tender, other countries illegalize trading and holding digital currencies.

Crypto taxes: Some countries allow crypto traders and companies to operate tax free. You don’t have to pay any capital gains tax or VAT on crypto transactions in some countries, making them a crypto haven and an attractive destination for businesses and investors. On the other hand, countries with higher crypto taxes are ranked lower on the list.

Crypto users: Cryptocurrency users as a percentage of the total population helps you gauge the overall crypto scene in a country. Countries with a high percentage are more likely to have businesses that accept virtual payments.

Crypto adoption rates: This marks the speed at which a country is moving toward the blockchain revolution. A high crypto adoption rate increases the chances of the country passing more friendly laws.

BTC ATM locations: Although a vague measure, the number of BTC ATMs lets you gauge how active the market is in a country. A high number of Bitcoin ATMs also means more accessibility to crypto for the general population.

Bottom Line on the Best Countries for Cryptocurrency

Different countries have different reasons for being crypto-friendly. While developing economies like El Salvador rank top for recognizing Bitcoin as legal tender, other countries like Switzerland and Germany offer a well-regulated crypto industry.

If you invest in crypto on a personal level and want to avoid taxes, destinations like El Salvador, Slovenia, and Portugal are a good option. On the other hand, if you want to establish a crypto business and are looking for a place to run it legally, Malta, Singapore, Estonia and The Netherlands are good options.

July 27, 2022March 22, 2023

Ultimate Guide to the Most Undervalued Crypto in 2023

CoinMarketCap reports the total number of cryptocurrencies in the world reaching a whopping 20,000. There’s bound to be a bunch of undervalued crypto coins, as well as overvalued ones, among the thousands of new and old projects.

Smart investors know the art of identifying undervalued assets and holding on to them for incredible returns in the long run. If you too are trying to find promising crypto projects for a long-term investment, this guide has all you need to know. Find out how to determine whether a cryptocurrency is undervalued, how to find such coins, and the most undervalued crypto on the market right now.

What is an Undervalued Crypto?

Undervalued crypto is any cryptocurrency that’s being bought and sold on the market at a price lower than what is probably its true, long-term worth. To put it differently, the larger market has not yet realized the actual value of a digital currency, hence its demand, and by extension, its price is not as high as it should be.

It’s not just new cryptocurrencies that can be undervalued. Even the oldest tokens like Bitcoin and Ethereum can be undervalued. As the BTC to USD chart below shows, the digital currency alternates between highs and lows. The lows, encircled in red, are the points where the crypto has been undervalued over the last couple of years.

Screenshot of BTC to USD chart for 2014-2022 from CoinMarketCap — *Source: CoinMarketCap*

Typically, undervalued cryptocurrencies are the best to invest in. They will eventually rise in value, yielding lucrative returns for investors who got in early. However, such investments work best if you commit to them for the long term. This might mean dedicating your capital for at least a couple of years. This is not to say that short-term investments won’t work at all, they just won’t be as profitable.

Just as some coins can be undervalued, others can be overvalued. This usually results from a hype investment, which is a characteristic of the crypto market.

People tend to follow trends and jump into a fast-growing cryptocurrency often without analyzing its technical soundness. This results in it getting overvalued temporarily until eventually the bubble bursts and the price plummets down to what it should’ve been. Exactly like what happened to Dogecoin in 2021.

Why are Cryptocurrencies Undervalued?

There can be several reasons behind a crypto’s price being below its true value. If it’s a freshly launched project that promises great utility and a unique application, it’s only natural to be undervalued initially. The reason is that the market takes some time to build confidence in a new project and start to see the actual value it brings to the table.

The wider community usually waits for expert traders and bigger names to endorse a crypto coin before they get their feet wet too. This brings us to another important aspect of digital assets being over or undervalued: marketing.

Good marketing can make a coin incredibly overvalued and vice versa. Even a promising currency with a comprehensive white paper can’t really get the ball rolling unless it markets itself properly.

When it comes to older projects, undervaluation usually comes down to the technicalities of crypto trading. Every tradable asset alternates between highs and lows which are typically fuelled by market sentiment.

Top 10 Undervalued Crypto Coins on the Market

Here’s a quick look at the top undervalued cryptocurrencies out there. Continue reading as we analyze why these cryptos are undervalued.

Decentraland (MANA)
The Sandbox (SAND)
Lucky Block (LBLOCK)
BNB (BNB)
ApeCoin (APE)
The Graph (GRT)
Algorand (ALGO)
Polygon (MATIC)
Ethereum (ETH)
Bitcoin (BTC)

You may not find all of these on some top crypto exchanges. Instead, we recommend you look for them on the crypto exchanges with the most coins as they’re more likely to have all of them.

1. Decentraland (MANA)

Decentraland or MANA is the crypto token from the virtual Decentraland ecosystem. Players use the crypto to buy real estate holdings in the game that has developed quite the market lately. With Decentraland plots selling for as much as $2.4 million, the virtual world’s native token clearly has a lot of utility to offer.

As giants like Meta have introduced the idea of developing virtual worlds, already existing virtual ecosystems like Decentraland have experienced a boost in popularity, users, and investment. The crypto hit an all-time high price of $5.5 in 2021’s bull run. With reasonable demand, sound utility, a credible team behind it, and availability in almost all major markets, MANA is indeed a great long-term investment.

2. The Sandbox (SAND)

Just like MANA tokens from Decentraland, SAND crypto comes from The Sandbox, a virtual world where players can create, own, and customize their virtual experience the way they want. It’s a 3D metaverse where players can connect, create their 3D games, and buy, and trade in-game assets.

SAND is the native cryptocurrency the game uses. With a max supply of 3 billion tokens, it’s a deflationary cryptocurrency. With 900 million tokens already in circulation, the price of each SAND token will only go up once it nears its supply cap. Still, it has great utility, and with its all-time-high value at $8.4, which was much higher than MANA’s, The Sandbox has solid potential to grow in value in the future.

3. Lucky Block (LBLOCK)

Launched in 2021, Lucky Block aims to disrupt the lottery industry by introducing its revolutionary decentralized lottery app. Players from all over the world can participate whereas the lottery itself will be completely decentralized and run on its own on the blockchain. This ensures players that the drawing process will be 100% random with no possibility of rigging.

Since the LBLOCK token will be the primary means of participating in Lucky Block games, the token has emerged to be one of the most useful cryptocurrencies. Moreover, all LBLOCK holders also receive a 10% share of winnings which means all investors have a chance of earning a passive income.

On top of that, Lucky Block cryptocurrency has quite a few amazing stats under its belt which make it an attractive undervalued crypto token to invest in. It’s the world’s fastest digital currency to hit a market cap of $1 billion with more than 50K investors in the first three months of its launch. Plus, if you’re an LBLOCK holder, you enter the daily jackpot free, making it an attractive cryptocurrency with great utility for the common person.

4. BNB (BNB)

When a crypto coin is backed by the world’s largest crypto exchange, you have to accept how strong it is. Binance is the world’s most popular crypto trading platform with the highest trading volume and liquidity. You can never take it out of the equation.

BNB is the exchange’s native token housed on the Binance Smart Chain. Note that other undervalued cryptocurrencies like Lucky Block, Uniswap, Chainlink, and Avalanche are also based on the same infrastructure.

What makes BNB a great long-term investment is the rock-solid support it has from the crypto exchange. BNB transactions are charged less by Binance which makes it a very useful asset to hold for Binance traders.

5. ApeCoin (APE)

ApeCoin is from the team behind Bored Ape Yacht Club, one of the best NFT projects to buy. The undeniable success of the project in the NFT area makes its governance token, APE, a good option for investors.

The primary purpose of the ApeCoin was to function as a governance token whereby holders can have a say in how the NFT project is run. However, it has also emerged to have great investment potential with a relatively stable price even when the rest of the market was crashing.

6. The Graph (GRT)

Launched in late 2020, The Graph is a relatively new virtual currency that’s making its mark when it comes to providing utility. As it happens, extracting data from different blockchains and using it hasn’t always been easy. But GRT is here to solve that problem as it gives consumers access to open APIs from blockchains.

This solves a long-standing problem in the industry which makes The Graph one of the most useful, and undervalued cryptos out there. Since its launch, GRT has continued to expand its horizons and works with more and more blockchains. Some have even dubbed it, ‘the Google of blockchains.’

7. Algorand (ALGO)

While Bitcoin is based on the Proof of Work mechanism, Algorand is a Proof of Stake cryptocurrency which is a much more efficient alternative to the former. ALGO was originally designed to beat Bitcoin in terms of speed and efficiency and has been doing fairly well. Although it’s not as popular as the industry-leading BTC, it’s growing fast and garnering more attention as it partners with a range of blockchain companies.

8. Polygon (MATIC)

While some may confuse Polygon to be an actual cryptocurrency, it’s a decentralized Ethereum scaling platform that lets developers build decentralized applications (dApps). MATIC is the native crypto token used on Polygon which also helps to govern and secure the network through staking.

With several market-leading companies and other tech giants using the Polygon network, its native crypto token is bound to go up in value. As of now, MATIC has quite a low price compared to its significant trading volume.

9. Ethereum (ETH)

You might expect a list of the most undervalued crypto to be full of hidden gems. However, even some of the most popular cryptocurrencies can be undervalued. Take Ethereum, for example. It’s only the second most popular crypto after Bitcoin and it’s severely undervalued for the massive range of applications it’s connected to.

Ethereum is arguably the highest utility cryptocurrency out there. The Ethereum blockchain houses several other cryptocurrencies and also powers technologies like smart contracts and dApps. Considering the utility and massive market cap of the ETH, it’s worth a lot more than its current price.

10. Bitcoin (BTC)

Last but not least, Bitcoin is also one of the most undervalued crypto tokens, especially right now (2022 bear market). Although it’s the largest cryptocurrency by market value and price, Bitcoin is at the very core of crypto technology.

Experts believe the token to be the ‘gold standard’ of the crypto world and rightly so. It’s the single cryptocurrency that inspired the creation of thousands of others and remains to be a flagship asset when it comes to looking at crypto as a financial market.

Bitcoin has some drawbacks too. As it’s based on a Proof of Work mechanism, BTC is not the most efficient when it comes to being a mode of exchange. The crypto has turned out to be more of an investment asset with the higher market cap out of all tokens. It reached an ATH of $68,780+ in 2021 but its price has significantly dropped since then, making it all the more undervalued.

How to Determine a Crypto is Undervalued?

Just like undervalued crypto, there are overvalued cryptocurrencies too. If you’re stepping into the crypto market, it’s best for you to know how to identify undervalued crypto.

In traditional financial markets like stocks, finding undervalued stocks comes down to companies’ balance sheets, financial performance, and business and industry research. On the other hand, determining undervalued crypto assets is a little different. Here you can either make decisions based on advertising and hype or on market research and technical analysis.

If you’re thinking about investing in a token, here are some steps you should take to ensure it’s an undervalued cryptocurrency.

Identify the team behind the crypto project: An experienced and trustworthy founding team is one of the most important factors you should consider when investing in a project. The names behind a cryptocurrency are what give it credibility and help it earn investors’ trust.

Identify the project’s backers: Trustworthy projects often have well-known investors that pour in the capital early on. Check out for credible angel investors or VC funds as they often invest in projects that will likely deliver great returns.

Study the charts: When it comes to identifying undervalued assets, studying charts is as simple as identifying highs and lows. If you see that the current value of a cryptocurrency is lower than what it usually is, you can say that it’s currently undervalued. However, this is only true if the crypto meets other requirements including having a credible team, strong backing, and offers utility.

Consider max circulating supply: Deflationary cryptocurrencies are those that have a maximum circulating supply limit or reduce supply over time. This results in an increase in value as there is a limited supply. In other words, cryptocurrencies with a maximum circulating supply limit are more likely to be undervalued than those that don’t limit supply.

Consider the crypto’s utility: Last but not least, a digital asset’s value comes down to the utility it provides to users or investors. Assets like Ethereum, Lucky Block, Algorand, and Polygon allow users to avail of different services which give them inherent value. As a result, the higher a cryptocurrency’s utility, the more undervalued it is.

Frequently Asked Questions (FAQs) for Most Undervalued Crypto

Here are some of the most frequently asked questions about the most undervalued crypto.

Which cryptocurrency has the lowest supply?

Bitcoin is the best cryptocurrency with the lowest supply with a max circulating supply of 21 million tokens. Algorand is also an undervalued crypto asset with a low supply of 10 billion.

Is Twitter a good place to find undervalued crypto?

Twitter is a good source of information when it comes to crypto market insights and important news that can influence upward and downward movements in the crypto market. There are several Twitter profiles that frequently share information on undervalued assets and large capital movements that you can use to predict price movements.

Can an undervalued cryptocurrency go down in value?

Yes, it can. A crypto asset that’s already undervalued can further decrease in value based on market forces. However, you can always expect the value to bounce back and increase in the long term.

Bottom Line on Undervalued Crypto

With thousands of cryptocurrencies being traded in the market, you will find several undervalued, as well as overvalued cryptocurrencies. The key to finding undervalued crypto is the utility it provides to users and investors. It gives it an inherent value that cannot be artificially changed in the long term.

Other factors like a credible founding team and strong backing also contribute to a digital currency’s value over time. That said, we recommend you always make investment decisions based on market research and sound technical analysis. If you want to invest, go for top crypto exchanges like Binance, Kraken, or Coinbase that give you accurate prices and swift order fulfillments for a promising crypto investing experience.

July 26, 2022November 25, 2022

How to Mine Dogecoin in 3 Steps

What started as a joke, now has a $22 billion market value. Dogecoin collected a fanbase worldwide and despite its recent success it’s still possible to mine Dogecoin and make some profit. In this article, we’ll walk you through a step-by-step guide on how to mine Dogecoin.

Mine Dogecoin with Hashshiny Cloud Mining!

How Mining Dogecoin Works

Before talking about Dogecoin mining, it’s important to first understand how mining cryptocurrency works in general. Dogecoin and other cryptocurrencies operate in a blockchain network that works by adding new blocks to its decentralized ledger.

“Mining” is critical for cryptocurrencies’ maintenance, development, and circulation. In practical terms, sophisticated hardware needs to solve complex mathematical problems and the first computer able to find the solution, receives the next block, the process begins again and the miner receives a newly minted coin as a reward for completing the “block.”

There are two different ways to mine: Proof of Work and Proof of Stake. Proof of Work (PoW) is what all types of hardware are needed for mining, such as GPUs, ASICs, and FPGAs (more on this later). Proof of Stake is an alternative for PoW, PoS is a consensus mechanism where cryptocurrency validators share the task of validating transactions.

Mine Dogecoin with Hashshiny Cloud Mining!

For the most part of mining cryptocurrency, including Dogecoin, miners resort to PoW. Here is the difference between Dogecoin mining and Bitcoin mining (as of December 2022):

Algorithm

Scrypt

SHA-256

Difficulty

8.48 million

36.95 trillion

Total Supply

Infinite

21 million

Reward per block

10,000

6.25

Block time

1 min

10 min

Bitcoin is the oldest and largest cryptocurrency by market cap and it uses a hashing algorithm called SHA-256. A hashing algorithm is simply a function that generates a fixed-length code using a certain technique. Each hashing algorithm uniquely creates random codes.

On the other hand, Dogecoin uses a hashing algorithm called Scrypt – a bit less complex than Bitcoin’s SHA-256. This makes mining Dogecoin much faster and less energy-intensive than BTC.

Most cryptocurrencies have a limited supply cap. Bitcoin, for instance, has 21 million whereas Dogecoin doesn’t, which means that its mining and circulating capacity increases continuously. This gives a larger block time between the two. New Dogecoin blocks are discovered every minute, while Bitcoin blocks, every 10 minutes.

The Process of Mining Dogecoin

Since the unexpected rise of Dogecoin at the beginning of 2021 – among pop culture, memes, and Elon Musk tweets about it – the meme coin ignited the interest of many crypto enthusiasts in Dogecoin mining and sent mining profitability to a new six-year high.

As its popularity increased, so did the mining process. This means, it is still possible to mine Dogecoin but it’s getting more and more difficult to do it. Because of that, miners got together and formed “mining pools.”

Mining pools are a group of miners who mine the cryptocurrency as a single entity – or node – by merging their computing power. The rewards get distributed among the participants proportionally by the amount of computer power committed by each miner. Today there are three ways to mine Dogecoin: individual mining, mining pools, and cloud mining.

Start Cloud Mining with Hashshiny!

How to Mine Dogecoin - visual representation of the difference between solo mining and pool mining

Dogecoin Mining Risks

Mining Dogecoin individually is possible as long as you know the risks. So, before diving into Dogecoin mining, you should know what you’re getting yourself into. We’ve listed the main risks of mining Dogecoin solo:

Electricity: Mining any PoW crypto consumes a lot of energy because computers must run 24/7. A GPU (graphics processing unit) from Nvidia and AMD requires high-wattage power supplies. A rig with three GPUs can consume 1,000 watts of power or more.
Faster wear and tear of equipment: If a miner decides to use their laptop to mine Dogecoin, they must be aware that, just like GPUs are up and running 24 hours a day, a laptop must do the same. This may accelerate the depreciation and affect the lifespan of your equipment.
GPU shortage could return: Nvidia has recently put an end to GPU shortage and boosted RTX 30-series graphics cards. Still, since dedicated GPUs are mainly manufactured by two companies, AMD and Nvidia, the market is vulnerable and maybe, still susceptible to another shortage again.

How to Mine Dogecoin in 3 Steps

Now that you know the process of mining Dogecoin, how it works, and the risks that come with it, and if you’re ready to venture into mining this successful meme coin, there are a few steps to follow.

Note that you can start mining Dogecoin instantly with a cloud-mining platform like Hashshiny. The steps below would work only if you’re willing to invest in mining hardware and take the longer route.

Step 1: Get Equipped

There are a few must-haves to start mining Dogecoin or any other cryptocurrency, and the two starters are hardware and software.

Hardware

There are three types of hardware equipment you can use:

CPU: Your regular PC’s processing unit can do the work, but as mentioned above, you might end up damaging your equipment due to overheating.
GPU: A graphic process unit is much more potent than a regular CPU; GPUs are also faster and more efficient and have become a must-have among miners.
ASIC: Application-specific integrated circuit miners are the highest level of mining crypto. They’re more powerful than GPUs and were specifically designed for mining crypto. However, it’s also more expensive.

Software

After choosing your equipment, it’s time to pick the software. Each one of the hardware listed above has its software to accompany it. We’ve listed the main ones:

CPU: CPU miner by Pooler, for Litecoin, Bitcoin, Dogecoin, and other cryptocurrencies
GPU: EasyMiner is a good option for beginners, CudaMiner works best with Nvidia GPUs, while CGminer goes well with all types of GPUs
ASIC: CGminer and EasyMiner can also be used with ASICs

Step 2: Get a Wallet

Screenshot of Dogecoin's different types of wallet

The second step is to get yourself a wallet. Dogecoin offers its official wallets – called Dogecoin Core and Multidoge but you can find another one that also stores Dogecoin. If you don’t know which crypto wallet to choose, check the best crypto wallets in 2023. A wallet will let you collect any revenue as a reward from mining DOGE.

Step 3: Decide How You Will Mine

As already mentioned, there are three approaches to mining Dogecoin: solo, pools, or cloud mining. If you intend to mine DOGE just for fun, you can do it by yourself, using a GPU through software such as Easy Miner or Cuda Mine, for example.

The function of a GPU is basically to process and render all images on a computer’s screen, and many laptops and desktop computers use it to improve image processing.

However, solo mining alone can be a tricky process if the individual isn’t used to it, and oftentimes it’s not profitable unless you’re willing to shell out significant sums of money on high-quality and professional equipment and electrical bills.

For first-time miners, we recommend trying to join a DOGE mining pool or a cloud-mining platform. Mining in a group increases the chances of becoming a block validator due to the collective hashing power of the pool. Also, a pool boosts the chances of profiting from mining – which is higher than mining solo.

The Crypto Economics Behind Dogecoin Mining

Most people want to know if it’s still possible to make some profit mining Dogecoin, even after its last peak in April 2021. But before discussing its profitability, let’s quickly look at the economics behind the Shiba Inus coin.

As opposed to the most popular cryptocurrencies out there such as Bitcoin and Litecoin, Dogecoin doesn’t have a fixed upper coin limit, which makes it an inflationary currency.

Although when first created, it was designed to be a limited supply of 100 billion coins, and the block reward was set to halve every 100,000 blocks until block 600,000 was mined. However, one year and 160 days after its launch, developers decided to give Dogecoin an infinite supply, thus DOGE turn into an inflationary currency with a slowly declining inflation rate.

With no hard cap supply, the DOGE hash rate declined significantly after that. To protect the network from 51% percent attacks, developers decided to allow merge, letting Dogecoin miners receive hashing power from another proof-of-work network. As a result, miners today can mine both Dogecoin and Litecoin simultaneously.

Is Mining Dogecoin Profitable?

That’s a very common question among miners and crypto enthusiasts. Profiting from DOGE depends on four main factors: energy costs, equipment’s hashpower, the current Dogecoin price, and the block reward. Generally speaking, the most costly variable is energy costs, as depending on the region or even the country, costs can go through the roof, then mining isn’t that profitable, especially if done solo.

The hash power provided is also an important variable that defines whether mining Dogecoin will turn out to be a profitable activity or not. The most popular GPU can make $0.25 to $2 per day. If using a new ASIC model, miners can make a profit of approximately $10-$40 per day.

Of course, it’s worth remembering that we aren’t including amortization into consideration – some GPU or ASIC models can take years to pay off the equipment’s price.

Mine Dogecoin with Hashshiny Cloud Mining!

How to Trade Crypto

Besides mining, there are other ways to profit from the crypto craze, such as NFT, DeFi, and trading. One of the most common ways is through trading.

You can trade cryptocurrency by exchanging one crypto for another (such as Bitcoin to Ethereum) or buying or selling crypto using fiat currency (like US dollar to Bitcoin). The process, however, can get complex if you aren’t familiar with the crypto market – which is similar to stocks and other financial markets.

Before starting off, you should understand how blockchain technology and the market involved in trading crypto works. Signing up with a quality crypto exchange will make things much easier for you.

Pros & Cons of Cryptocurrency

Cryptocurrencies are highly volatile, so it’s very common to see Bitcoin prices fluctuate over 10% in a single day. This is a great opportunity for high-risk profiles to make a profit quicker with crypto trading.

But is crypto worth investing in? Or is it something for you? If you can handle volatility and are okay with the risk of loss (in case you can’t access your wallet or private key) and security, cryptocurrencies have a high return potential (oftentimes higher than the stock market).

It gives users anonymity, and it’s very accessible and versatile – it only takes a few minutes to trade and transfer Bitcoin or any other crypto. If you’re sold on the idea of profiting from cryptocurrencies, check the fastest growing cryptocurrencies in 2023 and get ready.

Pros:

Potential for high rewards
Anonymity
Cryptocurrencies beat inflation

Cons:

Understanding cryptocurrency takes time and effort
Cryptocurrencies are highly volatile
Crypto newbies are vulnerable to security risks

Evaluate the complete pros and cons of cryptocurrencies to make the right decision for yourself.

Frequently Asked Questions (FAQs) for How to Mine Dogecoin

We have answered the most frequently asked questions so you can learn more about how to mine Dogecoin.

Is it hard to mine Dogecoin?

The short answer is no, mining Dogecoin isn’t difficult, the question is, is it really profitable if done from a laptop or a desktop? To profit from mining Dogecoin, miners must count on four main variables: energy costs, equipment’s hashpower, the current Dogecoin price, and the block reward.

How long does it take to mine Dogecoin?

It takes only one minute to mine Dogecoin – as opposed to Bitcoin, for example, which takes 10 minutes to mine a block.

Is mining Dogecoin worth it?

Yes, Dogecoin mining can still be profitable. Having powerful pieces of equipment and joining a mining pool will give you the best possible chance of making a profit from DOGE mining. However, don’t expect to become a millionaire.

How many Dogecoin exist?

The total number of Dogecoins worldwide is more than 132 billion. This number also represents the total number of Dogecoins in existence and circulation, or in other words, available to the public.

Where will Dogecoin be in 5 years?

There are some predictions of the future price of DOGE and it is predicted around $0.55 around 2026, according to a long-term Dogecoin price prediction. The maximum price estimated for the next 5 years is $0.58. However, those predictions depend on many factors, such as price changes, market cycles, and other cryptocurrencies.

Bottom Line on How to Mine Dogecoin

If you’re wondering if there’s still space for late adopters to make some profit with Dogecoin, the short answer is yes. However, there are some aspects and risks to consider when it comes to mining not only Dogecoin but any other cryptocurrency.

Mine Dogecoin with Hashshiny Cloud Mining!

July 20, 2022November 23, 2022

How to Buy and Flip NFTs Like an Expert in 5 Simple Steps

The Web 3.0 revolution has introduced several means of making money online. Buying and flipping NFTs is one of them. Know that NFT trading volumes in 2022 are not riding the same high as in 2021, but that doesn’t mean they’re no longer a viable asset to flip. These digital assets are definitely here to stay.

If you want to learn how to buy and flip NFTs and earn profits, read this guide to the end. We’ll explain everything there is to flipping non-fungible tokens in layperson terms and discuss tried-and-tested strategies that’ll help you flip for a profit.

What is NFT Flipping?

Before we get to the step-by-step guide on how to buy and flip NFTs, let’s understand what exactly is NFT flipping? Flipping is a recently coined term that refers to buying an asset and selling it quickly for a profit. It’s not limited to non-fungible tokens only, you can flip any valuable asset including trading cards, cars, real estate, or antiques.

When it comes to NFTs, to flip just means to buy low and sell high. It usually refers to a short-term trade. If you hold an asset for a long time before selling, that’s not exactly flipping.

Graphic representation of exchange between NFT and Ethereum cryptocurrency — *Source: Pixabay*

There’s always a risk when you invest in any asset. Flipping is a relatively riskier means of earning money, but if you strategize, it can help you make a handsome amount of money in a short period of time. Remember that it’s not a sure-fire way to make money, but you’re likely to succeed if you tread carefully and follow a strategy.

How to Buy and Flip NFTs In 5 Steps

Is it possible to buy a non-fungible token in the morning and sell it at the end of the day and make a profit? Yes, absolutely. The key is to analyze the market properly and pick the right project before you buy. The entire process is really simple theoretically.

Screenshot of trending NFT projects on OpenSea — *Source: OpenSea*

Experience is an important ingredient of success when it comes to NFT flipping. Ask any successful flipper and they’ll tell you that some things only come with experience. Remember to start small and work your way up to more expensive non-fungible token projects.

This guide will focus on “true” flipping. We won’t focus on creating NFTs, buying early, or minting non-fungible tokens because that can be a whole lot of trouble for starters. Although minting is more profitable, we will focus on buying and selling on a secondary platform like OpenSea or Rarible, which is flipping in the true sense.

Step 1: Pick the Right Time to Buy NFTs

Just like the crypto trading market, the NFT market can either be going up (bullish) or be going down (bearish). You can easily analyze the market trend by looking at the week-by-week NFT trading volume on any credible website.

The best time to buy is when the market has bottomed out. In other words, when charts indicate that trading volumes have hit a record low and the trend starts moving up, that’s the best time to buy. This is because you are more likely to find non-fungible tokens at lower prices.

NFT trading volumes 2021-2022 — *Source: CRYPTOSLAM*

The key underlying principle is liquidity. When the market is trending upwards, it has higher liquidity, which in simple terms means higher demand. The higher the demand, the more likely you are to sell your digital assets at a profit. All in all, buy when the market has bottomed out and sell when the market is going up.

Step 2: Choose the Right NFT Project to Flip

The next step is to pick one or a few credible NFT projects. You’ll need to do your fair share of research, analysis, and decision-making to shortlist the best ones to flip. Here are a handful of factors that’ll help you choose a promising NFT project.

Number of NFTs in Circulation

You need to look at the basic rules of demand and supply here. Projects with a limited supply tend to have a higher value and hence, are more likely to earn you profit.

Floor Price

The floor price on a project is the lowest price you can purchase an item on. This should give you a general idea of how much each token costs and help you rule out projects that are out of your budget. If the floor price is above or near your investment budget, investing in that project isn’t financially viable. When you’re looking for new projects to flip, try to find a combination of a low floor price and a limited supply.

Utility

Does a project offer perks or special benefits to its buyers? For instance, some NFT holders get special discounts at select coffee shops while others get a chance to meet a celebrity. Such perks add to the credibility of projects and also make them more valuable.

Team Behind the Project

Best stay away from anonymous NFT sellers. A professional and trustworthy team behind a project adds to buyers’ confidence. This is much better than anonymously-run projects that run a much higher risk of loss or scam.

Quality of Art

Last but not least, every non-fungible token is essentially a piece of art. The more unique and high-quality the art, the greater its value.

Step 3: Buy Rare or Undervalued NFTs to Flip

Now that you’ve shortlisted projects to work with, now is the time to decide which NFT you are going to buy exactly. Purchasing is fairly simple. All you have to do is connect your cryptocurrency wallet to the NFT marketplace.

Note that you must have a compatible cryptocurrency to make a purchase. For instance, OpenSea works mainly on ETH. Most other non-fungible token platforms use any of the fastest-growing cryptocurrencies which makes the market more stable.

But things get complicated when it comes to deciding which to flip. Here are a few strategies to find the best NFTs to buy.

Explore the Trending NFTs Page

The trending page won’t always have the exact NFT you would flip but it gives you an overview of what projects are hot and what prices are tokens being sold at. If you’re lucky enough, you can stumble upon a good flipping opportunity right on the trending page. But in most cases, you will have to do your searching to make profits.

Screenshot of Top NFTs trending page on OpenSea — *Source: OpenSea*

Find Undervalued NFTs

This is where you need to know that flipping NFTs is not a get-rich-quick scheme. You’ll have to spend tons of time on project pages and scrolling through hundreds of items a day to find potential NFTs. Essentially, you are looking for undervalued items or tokens that you think will increase in value in the near future.

The best strategy is to first set the price filter from Low to High. This will display the cheapest NFTs on the project first. Not all tokens will be up for sale so click on Buy Now to see which ones are up for grabs.

Screenshot of Bored Ape NFTs page - How to find undervalued NFTS

Now scan the entire page to find outliers, items that are priced lower than others in the same project. For instance, if you see that the first couple of items cost 0.5 ETH and all the next ones cost either 0.9 ETH or more than 1, you have a chance at flipping 0.5 ones for a higher price. You could sell them at 0.89, for instance.

Sort NFTs by Traits

Here’s another method to find which NFTs to flip. Traits or Properties define how rare a non-fungible token is and hence determine its value. If less than 100 NFTs share the same trait, they are likely to cost higher than most other NFTs. Similarly, if you’ve spotted an undervalued item, always check out its traits to identify a specialty.

Suppose you see a Bored Ape NFT with a trait that less than 50 other items share, go to that trait page and see the prices of other items with the same rare trait. This will help you decide on a good selling price for your rare token.

Step 4: Set a Price

Buying the right article is only 50% of the job. Now you must set a reasonable price to make a profit successfully. For your digital asset to sell quickly, you want to price your item lower than the others while still making a profit.

Take the marketplace buying and selling fees into consideration when deciding the price. You don’t want to lose all your profit in fees. Use psychological pricing to increase the chances of selling as quickly as possible.

For example, if you want to sell something at 1.0 ETH, price it at 0.99 ETH. While this may look like a futile effort to you, charm pricing has pronounced effects. For starters, the value of 0.99 ETH is virtually the same as 1.0 ETH, but technically, the 0.01 margin helps you NFT appear before all the 1.0 ETH ones on an NFT marketplace. You want your item to appear as high on the left side of the page as possible when the price is set from Low to High.

Step 5: Flip!

If you follow the right pricing tactics and the market conditions are right, it won’t be long before you receive a buyer’s request. Until then you need to keep your digital assets in your NFT wallet. You can sell on the same day, but it can take up to 3 days for your NFT to sell at your asking price.

Best NFT Marketplaces for Flipping

As mentioned above, liquidity is the key to NFT flipping. You want to buy and sell your tokens on marketplaces that have a high enough demand so you can keep circulating and making profits. For this, you need to choose the right platform for flipping. Take a look at the top two NFT marketplaces and see which one you should work on.

OpenSea

Visit

Blockchain: Ethereum
Monthly trading volume: $5 billion+
Fees: 2.5% of every sale
Collection: 1,000,000+ assets

OpenSea is by far the best NFT marketplace for liquidity and security. It also has one of the most extensive NFT catalogs with almost every credible project present on it. As one of the largest marketplaces in terms of trading volume and asset collection, OpenSea is any NFT flipper’s first choice.

However, you must also note that since this is a popular marketplace, you will find a lot of competition. Almost every experienced flipper uses OpenSea to filter out promising assets so you may find it hard to find tokens to flip.

OpenSea is built on the ETH blockchain so you’ll find most tokens on it priced in Ethereum. However, it accepts more than 150 cryptocurrencies for payments.

Rarible

Visit

Blockchain: Ethereum, Flow, Tezos
Monthly trading volume: $1.56 million+
Fees: 2.5% of every sale and purchase
Collection: 400,000+ assets

Rarible is a newer NFT marketplace that gives emerging artists a chance to share their work in a new way. The platform features a vast range of digital assets including digital art, photography, music, games, domains, and metaverse assets.

It’s one of the more expensive marketplaces as it charges a 2.5% fee on every transaction from both the buyer and seller. The good thing about Rarible is that it’s supported by multiple blockchains including Ethereum, Flow, and Tezos. Its strongest selling point is that it lets users buy tokens directly with their credit or debit card. But this may involve a lot of fees and is not recommended for NFT flippers.

Rarible is not as big a market as OpenSea as of now. The platform aims to be a decentralized autonomous organization (DAO) which means it wants its users to have control over Rarible’s decisions and governance. This is something that sets it apart from the top marketplaces and may even give it the growth it needs to compete head-to-head with giant players like OpenSea.

Frequently Asked Questions (FAQs) for How to Buy and Flip NFTs

Here are some of the most common questions new NFT flippers have when they start buying and selling non-fungible tokens.

Can you make money from buying and selling NFTs?

Yes, you can. You can make a handsome amount of money from buying and selling NFTs, also known as NFT flipping. However, you can only successfully make profits if you have knowledge and experience in flipping. The goal is to buy rare and undervalued tokens and sell them off at a higher but attractive price and make a profit on them almost immediately.

What kind of NFTs sell best?

Rare NFTs with high utility, a credible team behind them, and high-quality art sell best. Projects with a limited supply always have a high demand and can easily earn you a profit. The credibility and trustworthiness of the team behind a project is also an important factor that contributes to its demand.

Are NFTs safe to invest in?

Like every other investment, NFTs have their risks and rewards. NFTs are definitely here to stay but whether a particular investment would be profitable or not depends entirely on the project.

When investing, choose a project that has a limited supply of tokens because scarcity drives demand, and hence the value up. The team running the project should be credible and trustworthy. If you make your decision after proper consideration, your NFT investment is likely to be safe.

Bottom Line on How to Buy and Flip NFTs

Flipping non-fungible tokens sounds like an easy way to make a lot of money. But it’s crucial for you to remember that there’s no such thing as a free lunch. You will have to research and spend the majority of your time finding promising projects and NFTs to flip. But yes, it’s a fun way to make money and will get easier with time as you gain more experience.

Start small and work your way up to minimize risk. Even if you do end up in a loss, you can still start over and try to avoid making the same mistake.

July 14, 2022March 28, 2023

7 Best Crypto Exchange with Most Coins in 2023

Crypto coins on a black background - Crypto Exchange with Most Coins

There are more than 19,500 cryptocurrencies in the world, but you will only find a small fraction of them listed on the most popular exchanges. This is because trading platforms only list a coin if it passes a thorough evaluation process. Choosing the best crypto exchange with the most coins is important, but so are fees and trading volume.

You want to have a wide variety of cryptocurrencies to invest in and trade. Some exchanges have catalogs of often no more than a few dozen coins which can sometimes be a problem. Especially when it limits your trading, and hence, profit-making opportunities. If you’re looking for a larger playing field, here are the best crypto exchanges with the most coins.

Best Crypto Exchange with Most Coins

Gate.io – Best Overall
MEXC – Best for Global Coverage
KuCoin – Best for Earning Options
Huobi Global – Best for Liquidity
Binance – Best for Trading Volume
FTX – Best for Advanced Features
Hotbit – Crypto Exchange with the Most Cryptocurrencies

Picking the top crypto exchanges with the highest number of cryptocurrencies involves counting all the coins listed on every exchange’s website. Apart from the number of cryptocurrencies listed, we also looked at the total number of markers, fees, trading volume, and liquidity as part of our methodology.

Gate.io

1459+

2920+

4.9/10

0.015%-0.20%

MEXC

1437+

1711+

5.3/10

0.014%-0.20%

KuCoin

732+

1350+

5.6/10

0.0125%-0.1%

Huobi Global

569+

1120+

4.9/10

0.07%-0.20%

Binance

395+

1673+

8.7/10

0.5%-4.5%

FTX

300+

440+

7.3/10

0.07%-0.02%

Hotbit

1549+

1932+

3.7/10

-0.50%-0.65%

*Number of coins and markets accurate as of 9th June 2022

We went through the painstaking process of manually counting the total number of cryptocurrencies on each exchange to bring you accurate estimates. Since exchanges are frequently listing and delisting cryptocurrencies, the number keeps changing all the time. Still, it should give you a clear overview of the variety of trading options you will have on each exchange.

Gate.io: Best Overall

Number of cryptocurrencies: 1459+

Fees: 0.015%-0.20%

★★★★★

4.7

Visit

Gate.io is one of the oldest crypto exchanges on the market. Launched in China in 2013, the exchange has since undergone a rebranding and has grown immensely over the years. It takes the best overall spot for its impressive listing of fast-growing cryptocurrencies, the highest number of trading markets, and a reasonably good trading volume.

Your trading opportunities are ultimately determined by the markets available to you. With 1459 coins, Gate.io doesn’t technically have the most number of cryptocurrencies, but it does have the most number of markets. This means Gate.io offers more opportunities than any other exchange.

When you manage to find an exchange with such a high number of cryptocurrencies and trading markets, the most common drawback you’ll encounter is a low trading volume. This ultimately results in low liquidity, meaning you can’t always make the trades you want. But this is not the case with Gate.io. It has a reasonably good liquidity score of 4.9 which makes it a good choice for anyone looking to trade with a large playing field.

Why we chose it: Gate.io made it to the top of our list for its highest number of trading markets out of all crypto exchanges. That coupled with low fees, high security, and additional trading features make it one of the best crypto exchanges out there.

Second-highest number of cryptocurrencies
Highest number of trading markets
Relatively low fees

Limited fiat support
Not beginner-friendly
Largely unregulated

Fees

Gate.io isn’t the cheapest exchange to trade on but its fees are relatively lower. It charges a 0.20% maker/taker fee which gradually decreases to 0.155% when you trade in large volumes. The exchange also offers a discount on fees on transactions involving its native coin, GateToken.

Liquidity and Trading Volume

This crypto trading platform has one of the highest trading volumes and liquidity scores among others offering a similar number of coins and markets. Gate.io frequently ranks among the top ten exchanges around the world when it comes to trading volume and liquidity.

Number of Markets

With more than 2920 markets, Gate.io is the single largest crypto exchange in terms of markets. With hundreds of spot, perpetual, and futures markets, it offers you the widest range of trading choices on a single platform.

MEXC: Best for Global Coverage

Number of cryptocurrencies: 1437+

Fees: 0.014%-0.20%

★★★★★

4.5

Visit

Also known as MEXC Global, MEXC is a professional crypto exchange offering its services around the world. With 1437 cryptocurrencies, it has the third-largest coin listing in the world. The exchange has a strong founding team behind it as its members come from leading blockchain and finance companies. The team claims to be working on blockchain technology ever since its inception.

MEXC is truly a global exchange as it’s licensed to operate in the US, Canada, Australia, and more than 200 other countries and regions. It also supports several fiat currencies including the USD, TWD, PHP, AED, AUD, JPY, CAD, and the PKR.

Apart from being a leading trading platform in terms of listed cryptocurrencies, MEXC offers an all-in-one trading platform where you trade a variety of digital assets. This includes spot, margin, leveraged ETF, and futures trading services.

It’s also one of the most secure exchanges as it keeps assets safe in a cold-storage crypto wallet. The exchange hasn’t experienced any significant security lapses since its launch.

Why we chose it: MEXC has 1437 listed cryptocurrencies and 1711 trading markets, making it an excellent option if you’re looking for a wide range of trading options.

Works in 200+ countries
Offers a wide range of trading options
Secure exchange

Doesn’t partner with trading bots
Lacking customer support
Needs more transparency

Fees

MEXC charges a 0.20% maker/taker fee on spot trading. All spot trading transactions are charged at the same rate. Futures trading maker/taker fees are 0.020%/0.060% and go as low as 0.014% for trade volumes over $500 million.

Trading Volume and Liquidity

The trading platform serves over 6 million users. It has a higher average trading volume than Gate.io and also has a higher liquidity score of 5.3/10.

Number of Markets

Despite a roughly similar number of listed cryptocurrencies, MEXC has a much lower number of markets than Gate.io. It offers around 1700+ options compared to Gate.io’s 2900+ trading markets.

KuCoin: Best for Earning Options

Number of cryptocurrencies: 732+

Fees: 0.0125%-0.1%

★★★★★

4.3

Visit

On any other list, you’d find KuCoin as the crypto exchange with most coins. But since this buyer’s guide is specifically about the best crypto exchanges with the most coins, KuCoin is a bit behind in the race with just around 730 digital currencies.

Generally speaking, KuCoin is right at the top with the best crypto trading platforms. It charges low fees and has an impressive average trading volume and liquidity score. It works in more than 200 countries. However, KuCoin is not licensed to operate in the US.

It also has a complex user interface, so it’s not the best choice if you’re just learning how to trade crypto. But it has low trading fees and a range of earning options including crypto staking, lending, and even an NFT trading platform.

Why we chose it: KuCoin is a high-quality crypto exchange with low fees, and a variety of earning options including staking, lending, KuCoin Earn, KuCoin Pool, and Cloud Mining.

Low fees
Offers a variety of earning options
24/7 customer service

Not licensed in the US
Not beginner-friendly
Low trading volumes

Fees

KuCoin charges relatively lower fees at 0.1% for each spot trade. This is much lower than other top trading platforms. The maker/taker fees decrease further as your trade volume increases.

Trading Volume and Liquidity

KuCoin lacks trading volume and liquidity when it comes to the top ten best exchanges in the market. Although its liquidity score is good at 5.6/10, it still has a lot of ground to cover to reach industry leaders like Binance, Kraken, and FTX.

Number of Markets

KuCoin has around 1350+ markets including spot and futures catalogs. It also has a separate New Listings page to keep you updated with new arrivals.

Huobi Global: Best for Liquidity

Number of cryptocurrencies: 569+

Fees: 0.07%-0.20%

★★★★★

4.2

Visit

Huobi Global is one of the world’s most used crypto exchanges with a stronghold in the Asian market. Just like Gate.io, it was launched in 2013 and has developed a solid user base since then.

This exchange is a complete digital asset ecosystem in itself as it covers spot and derivatives trading, staking, crypto lending, and other yield-generating opportunities from crypto holdings. The best thing about Huobi is the deep liquidity you’ll find on the exchange with one of the highest average trading volumes.

Although it has a good user interface, beginners might find it tough to find their way around the large number of services being offered on the platform. Plus, like a lot of other global exchanges, Huobi doesn’t work in the US.

Why we chose it: With more than 569 coins, Huobi can be a good choice for anyone who’s looking for a combination of liquidity and yield-generating options.

One of the most liquid exchanges
Wide range of yield-generating options
Low trading fees

Not available in the US
Difficult for beginners to navigate
Reputation issues

Fees

Huobi charges a 0.2% base fee. But if you’re a Huobi Token holder, you can get a discount based on the value of your holding. The fee rate is reduced to 0.18% if you have more than 10 HT tokens. It can go down to as low as 0.07% for holdings of over 5000 HT.

Trading Volume and Liquidity

Huobi Global’s trading volume and liquidity are arguably its strongest selling points. With millions of users primarily from Asia, the exchange offers deep liquidity in BTC and ETH markets.

Number of Markets

Huobi global has a total of 1120+ spot and futures trading markets. Its BTC/USDT and ETH/USDT trading pairs are popular for their liquidity.

Binance: Best for Trading Volume

Number of cryptocurrencies: 395+

Fees: 0.5%-4.5%

★★★★★

4.0

Visit

Usually you’d find Binance right at the top spot of best crypto exchange lists, if not in the top three. But you find it lower in this guide because, with just around 395+ coins, Binance’s list of cryptocurrencies is smaller than that of Gate.io, KuCoin, or Huobi Global.

Still, hitting around 400 coins, Binance has a considerable collection of coins available for trading. Note that while Binance’s website claims 600+ digital currencies, we found that number to be inaccurately reported when we manually counted the rows on its markets page.

Binance is the most used crypto exchange around the world with the highest trading volume of all exchanges. It boasts a liquidity score higher than others on this list which makes it a highly attractive choice for any trader. Note that Binance doesn’t work in the US either. It has a separate version for the US called Binance.US with a very limited list of coins.

Why we chose it: Binance is the world’s most popular crypto exchange with the highest trading volume and liquidity score. It also has an impressive catalog of coins with around 395+ digital currencies.

Highly liquid exchange
Advanced trading features
Offers a proprietary wallet

Not available in the US
Not beginner-friendly
Faces regulatory issues in different countries

Fees

Binance charges a 0.1% maker/taker fees on spot trades. You get a 25% discount on the fee which brings the total feel down to 0.075%. When it comes to transaction fees, you’ll have to pay up to 4.5% if you make a purchase with a debit card.

Trading Volume and Liquidity

Binance is the single largest crypto exchange in terms of trading volume. With the highest liquidity score, you can expect your orders to be filled right away.

Number of Markets

Although Binance doesn’t have more coins listed than KuCoin or Huobi Global, it has more trading markets than them. This is simply because it has the largest number of users trading in several different pairs in the spot and futures markets.

FTX: Best for Advanced Features

Number of cryptocurrencies: 300+

Fees: 0.07%-0.02%

★★★★★

3.8

Visit

FTX is a good choice for advanced traders, even if it isn’t the top crypto exchange with most coins. It offers sophisticated products including margin and derivatives trading and has its own digital wallet to keep funds secure.

The exchange was launched in 2019 which makes it a newcomer to the space. Still, with its advanced features and quality offerings, it has quickly risen to become a popular crypto trading platform, especially for pros.

You must note that the global version of the exchange does not work in the US due to regulatory issues. Like Binance, FTX has a special US version called FTX.US.

Why we chose it: FTX offers highly sophisticated features making it an excellent choice for crypto pros looking for a wide range of digital currencies to trade.

Low fees
Advanced features
Has an NFT marketplace

Not available in the US
Not beginner-friendly
Limited customer support

Fees

Like most other exchanges, FTX follows a maker/taker fee model but it charges different maker and taker fees. Fees start at 0.02% for the maker and 0.07% for the taker and can go down to as low as 0% with trade volume.

Trading Volume and Liquidity

FTX has a high average trading volume and boasts an attractive liquidity score of 7.3/10. This is much higher than all other exchanges on this list except Binance.

Number of Markets

Similar to its cryptocurrencies catalog, FTX has the lowest number of markets on this list. This means fewer trading options than other exchanges. Still, 440 trading markets are not bad at all, especially if they come with advanced trading features such as those FTX offers.

Hotbit: Crypto Exchange with the Most Coins

Number of cryptocurrencies: 1549+

Fees: -0.50%-0.65%

★★★★★

3.0

Visit

Hotbit Review

The only reason why Hotbit is on this list is the number of cryptocurrencies it supports. It’s not the best crypto exchange when you consider other important factors like liquidity, fees, and security. However, with more than 1549 coins, it’s the single crypto exchange with the most coins.

Apart from its weaknesses of low liquidity, trading volume, and a small user base, Hotbit covers a lot of ground in terms of coverage. Not only does it cover the largest variety of cryptocurrencies, but it also works in more than 170 countries and supports six languages including English, Chinese, Turkish, Russian, Thai, and Korean.

Hotbit doesn’t work in the US which is a huge drawback. It’s a relatively new trading platform launched in early 2018. It has good features which promise a bright future ahead, but for now, we won’t recommend it for trading. It has a very low liquidity score and trading volume which means you won’t be able to trade freely even if it offers the most number of cryptocurrencies.

Why we chose it: The only reason Hotbit is on this list is the sheer number of coins it supports. With more than 1549 tokens, it offers more coins than any other crypto exchange out there.

Largest cryptocurrency list
Works in 170+ countries
Offers lending and DeFi products

Very low liquidity
Doesn’t work in the US
Doesn’t offer margin trading

Fees

Hotbit has an interesting fee structure. It has negative maker fees ranging from -0.05% to -0.50%. This means if you’re an order maker, the exchange pays you instead of you paying it. The taker fees range from 0.20% to 0.65% depending on the market type you’re trading in.

Liquidity and Trading Volume

Hotbit is not a widely used cryptocurrency exchange. With a low number of users, the exchange has a low trading volume and liquidity. This means your buying and selling orders may not be filled right away.

Number of Markets

Hotbit has the highest number of coins but it doesn’t have the most markets or active trading pairs. With some 1932 markets, it has lower trading opportunities than Gate.io.

Methodology for the Best Crypto Exchange with Most Coins

Picking the best crypto exchanges with the most coins is a lot like picking the best crypto exchanges. It’s just that the number of cryptocurrencies and markets on each exchange is given more weightage. This is also the reason why exchanges like Gate.io and MEXC rank higher than Binance and FTX.

Number of cryptocurrencies: This is the single most important criterion we based this guide on. People prefer trading on an exchange that supports a large number of coins which gives them greater freedom to enter different trades and invest in new and growing altcoins.
Number of markets: Markets are the different spot and futures trading pairs you’ll find on an exchange. In other words, it’s just a number of the different kinds of trades you can enter on an exchange.
Fees: The trading and transaction fees you pay for trading on an exchange are just the price you pay for using its services. The lower the fees, the higher the exchange ranks.
Trading volume and liquidity: Trading volume and liquidity are very important factors when it comes to trading. The higher they are, the more freedom you’ll have to make the trades you want. Low trading volume and liquidity often mean you can’t enter and exit trades when you want.

Frequently Asked Questions (FAQs) for Crypto Exchange with Most Coins

Here are some of the most frequently asked questions about crypto trading platforms with the largest coin listings.

Which crypto exchange has the most cryptos?

Hotbit has the most number of cryptocurrencies with more than 1549 coins. Gate.io has the second-highest number with 1459+ coins.

What is the highest-rated crypto exchange?

Binance is the highest-rated crypto exchange as it has the largest trading volume and liquidity score in the market. It also offers advanced trading features and a vast listing of coins making it the overall highest-rated exchange. FTX is the second-highest-rated exchange.

Which crypto wallet supports the most coins?

Ledger supports the most number of cryptocurrencies. The website suggests you can store more than 5500 coins on the hardware wallet including all major digital currencies and emerging projects.

Bottom Line on the Best Crypto Exchange with Most Coins

Although Hotbit technically holds the highest number of coins, it’s not worth using yet for its low trading volume. Use Gate.io if you want a wide range of coins to play with. FTX and Binance are two options we always recommend as they come with everything you need to trade crypto.

July 11, 2022March 29, 2023

10 Best NFTs to Buy in 2023

There are thousands of different NFT projects listed on NFT marketplaces such as OpenSea, Rarible, and SuperRare. With more than $37 billion sent by cryptocurrency wallets to NFT marketplaces from January 2022 to May 2022, the NFT market continues to grow. This guide sums up the best NFTs to buy in 2023.

Best NFTs to Buy

Bored Ape Yacht Club – Overall Best NFT to Buy
CryptoPunks – Best NFT for Longevity
Azuki – Best Newly Released NFT
Moonbirds – Best Viral NFT Collection
VeeFriends – Best NFT for Notable Founder
World of Women – Best NFT for a Diverse Community
Fidenza Art Blocks – Best NFT for Generative Art
Cool Cats – Best NFT for Active Community
CyberKongz – Best NFT for Token Earnings
HAPE PRIME – Best NFT for 3D Art

Bored Ape Yacht Club

April 23, 2021

0.08 ETH

91 ETH

150 ETH

9,999

952,800

CryptoPunks

June 23, 2017

Free

47 ETH

124 ETH

9,999

226,500

Azuki

January 12, 2022

1 ETH

11.5 ETH

31 ETH

10,000

310,900

Moonbirds

April 16, 2022

2.5 ETH

24 ETH

38.65 ETH

10,000

201,000

VeeFriends

May 11, 2021

2.5 ETH

7.7 ETH

22.60 ETH

10,255

253,300

World of Women

July 27, 2021

0.07 ETH

4.14 ETH

13.23 ETH

10,000

201,500

Fidenza Art Blocks

November 1, 2020

0.17 ETH

293 ETH

999

149,000

Cool Cats

July 14, 2021

0.06 ETH

3.15

16.07 ETH

9,999

202,600

CyberKongz

March 3, 2021

0.07 ETH

24.99

144.38 ETH

1,000

317,700

HAPE PRIME

January 19, 2022

0.2 ETH

0.74 ETH

4.41 ETH

8,192

320,900

*floor price and Twitter followers as of 25 May, 2022

Bored Ape Yacht Club: Overall Best NFT to Buy

Pricing: Floor Price of 91 ETH as of May 25, 2022

4.99

★★★★★

Visit

Bored Ape Yacht Club (BAYC) was created by Yuga Labs LLC. It’s a collection of 9,999 randomly generated art pieces created from 170 unique traits. Each Bored Ape Yacht Club receives access to members-only benefits such as merchandise, real-life meetups, and various rewards.

This NFT collection is the most influential NFT project of all time. It’s owned by notable celebs, including Jimmy Fallon, Justin Bieber, Timbaland, Snoop Dogg, Steph Curry, and Paris Hilton. BAYC released the collection of 9,999 NFTs for only 0.08 ETH. As one of the first mainstream projects in the NFT space, the floor price stands at 91 ETH.

People who owned a Bored Ape Yacht Club NFT received early access to additional NFT drops such as the Mutant Ape Yacht Club and Bored Ape Kennel Club, two derivative projects. To date, the Bored Ape Yacht Club has generated over $1 billion in revenue.

Bored Ape Yacht Club Overview

Art

The Bored Ape Yacht Club artwork features randomly generated profile pictures of apes.

Community

The BAYC NFT collection has the strongest community in the NFT space because of its popularity and ownership by many A-list celebrities. Bored Ape Yacht Club has nearly one million followers on Twitter.

Utility

Owning a BAYC NFT grants you access to exclusive events, airdrops, and giveaways.

Team

BAYC was founded by four developer friends with an impressive background in marketing and branding.

Roadmap

BAYC continues to hold private events for their NFT holders that grant access to an exclusive network of high-net-worth individuals.

Why we chose it: Bored Ape Yacht Club is the overall best NFT to buy because it’s the number one blue-chip NFT. This means that even during volatile market conditions, you can expect BAYC to remain stable and return to previous highs.

Most popular NFT ever
Access to real-life meetups
Exclusive community with many notable celebrities

Extremely expensive
Price fluctuations
Overwhelming Discord server

Pricing: Over 2022, the floor price has ranged from 60 ETH to 150 ETH. It currently sits at 91 ETH as of May 25, 2022.

CryptoPunks: Best NFT for Longevity

Pricing: Floor Price of 47 ETH as of May 25, 2022

4.93

★★★★★

Visit

CryptoPunks had the highest floor price in the NFT marketplace until Bored Ape Yacht Club passed it in December of 2021. This is because CryptoPunks launched in 2017, four years before the massive NFT boom in 2021. As one of the first NFT projects released, CryptoPunks were able to build a strong community.

Many CryptoPunk NFTs have sold for millions of dollars. In fact, CryptoPunk #5822 sold for around $23.7 million in Ethereum. The creator of the BAYC, Yuga Labs, purchased CryptoPunks from Larva Labs in March of 2022. As such, Yuga Labs now owns the two most popular NFT projects in the world.

Because of this, you can expect Yuga Labs to continue creating value for the NFT holders through clever marketing, real-life events, and various giveaways.

CryptoPunks Overview

Art

The CryptoPunks artwork features simple 8-bit pixelated art images which were generated algorithmically. Most of the artwork features punky-looking girls and guys. However, there are a few rarer art pieces mixed in, including apes, zombies, and aliens.

Community

CryptoPunks NFT is similar to Bored Ape Yacht Club because many high-level celebrities and entrepreneurs own one.

Utility

The core utility of a CryptoPunks NFT is owning a rare piece of the first popular NFT collection ever created.

Team

Cryptopunks is currently owned by Larva Labs.

Roadmap

CryptoPunks didn’t even have a roadmap when it launched. The project was an experiment that grew to a worldwide sensation.

Why we chose it: CryptoPunks is the best NFT for longevity because it still holds its spot as the number two most popular NFT, even after five years. Although the floor price has fallen from its all-time high, it’s one of the most notable NFT projects of all time.

First NFT project on Ethereum
Second most popular NFT project
Several CryptoPunks have sold for millions of dollars

Extremely high floor price
Can only be purchased with Ethereum
Simple art may not be attractive to everyone

Pricing: Over 2022, the floor price has ranged from 47 ETH to 84 ETH. It currently sits at 47 ETH as of May 25, 2022.

Azuki: Best Newly Released NFT Project

Pricing: Floor Price of 11.5 ETH as of May 25, 2022

4.89

★★★★★

Visit

Azuki stormed the NFT marketplace in early 2022 because of a viral and successful pre-launch Twitter campaign. This NFT collection features 10,000 anime-style profile pictures that live on the Ethereum blockchain. Each Azuki NFT holder gains access to Azuki’s metaverse, The Garden. The Garden gives holders access to exclusive NFT drops, live events, and merch.

The Azuki collection stands out because it had an initial mint price of $3,400 with 8,700 art pieces. The 8,700 art pieces didn’t take long to sell out. In just four minutes, the entire collection sold out. This netted one of the quickest $29 million transactions in NFT launch sales history.

Azuki accumulated $300 million in trading volume after 30 days and is on its way to becoming the next Bored Ape Yacht Club. Even five months after its release, Azuki continues to rank high on OpenSea in terms of sales volume and floor price. The hype is still growing, and the Azuki NFT collection is prepped to soar to new all-time highs once the crypto market recovers.

This NFT collection showcased the power of outstanding artwork and a strong social media campaign. Before Azuki, the majority of popular NFT collections featured simple and uninspired artwork. Furthermore, one of the founding members was the Character Art Director at Overwatch, a popular first-person shooter game. His reputation skyrocketed the NFT’s success.

Azuki Overview

Art

Azuki NFTs feature beautifully designed anime style profile pictures.

Community

The Azuki community is extremely active with over 100,000 Discord members.

Utility

Owning an Azuki NFT grants you access to real-life meetups, physical merch, and Azuki’s metaverse creation.

Team

Azuki was founded by Zagabond. Although he failed three NFT projects in the past, Azuki proved he understands the cryptocurrency space.

Roadmap

Azuki is planning to create exclusive streetwear collabs, NFT drops, and live events, which is only rivaled by BAYC.

Why we chose it: The Azuki collection is the best newly released NFT project because it’s been able to keep up the initial hype through continuous marketing and community building. While most projects with strong initial hype simmer down, Azuki has remained vigorous.

Outstanding artwork
Relatively low floor price compared to BAYC and CryptoPunks
High potential to become blue-chip NFT collection

High floor price
The founder has abandoned three projects in the past
Unclear roadmap

Pricing: Over 2022, the floor price has ranged from 8 ETH to 31 ETH. It currently sits at 11.5 ETH as of May 25, 2022.

Moonbirds: Best Viral NFT Collection

Pricing: Floor Price of 24 ETH as of May 25, 2022

4.82

★★★★★

Visit

Newly released in April 2022, Moonbirds have gone viral all over NFT Twitter. This NFT collection was created by Proof Collective, which includes Digg founder Kevin Rose.

Moonbirds is an excellent example of an NFT acting both as a community-driven movement and profile picture art. Similar to Azuki, Moonbirds has been able to surpass its initial hype by continuing to grow and expand.

Moonbirds Overview

Art

Moonbirds artwork features simple 2D images of birds.

Community

Moonbirds has a cult-like community of over 200,000 Twitter followers, and it’s fast approaching Azuki’s popularity.

Utility

If you own a Moonbirds NFT, you get access to the private PROOF Discord server. Here, you will receive access to private drops, real-life events, and the upcoming PROOF metaverse.

Team

Moonbirds was founded by prominent entrepreneur Kevin Rose. Kevin Rose was the founder of digg, a news aggregator website.

Roadmap

Moonbirds NFT holders get first-access to the metaverse world Moonbirds is building.

Why we chose it: The Moonbirds NFT collection is the best viral NFT collection because it aims to be the next blue-chip NFT while building one of the strongest communities in the space. This collection has a highly notable founding team, which offers excellent potential for the future.

Reputable founding team
Massive pre-launch social media campaign
Private Discord server

High floor price
Mediocre artwork
Unclear roadmap

Pricing: Over 2022, the floor price has ranged from 12.85 ETH to 38.65 ETH. It currently sits at 24 ETH as of May 25, 2022.

VeeFriends: Best NFT for Notable Founder

Pricing: Floor Price of 7.7 ETH as of May 25, 2022

4.79

★★★★★

Visit

Gary Vaynerchuk is a highly influential entrepreneur that’s been invested in the NFT marketplace since the beginning. VeeFriends is Gary Vaynerchuk’s personal NFT collection and consists of 10,225 NFT art pieces. The artwork is all drawn by Gary Vee himself.

VeeFriends Overview

Art

The artwork featured in the VeeFriends NFT collection is hand drawn by Gary Vaynerchuk.

Community

VeeFriends has a dedicated community of Gary Vaynerchuk fans and cryptocurrency enthusiasts.

Utility

Each NFT holder receives three years’ access to VeeCon, Gary’s annual Web 3 conference in Minneapolis. Other benefits include exclusive networking opportunities and various giveaways, which could be seen as more valuable than even the top-ranked NFTs, BAYC and CryptoPunks.

Team

VeeFriends was founded and is still led by prominent entrepreneur, Gary Vaynerchuk.

Roadmap

VeeFriends recently dropped series 2 and will continue adding new art to the NFT collection.

Why we chose it: Many high-level influencers have tried creating their own NFT collections, but none of them have had as much success as Gary Vaynerchuk and VeeFriends. Therefore, VeeFriends is the best NFT collection with a notable founder.

Created by Gary Vaynerchuk
Strong floor price despite volatile market conditions
Constant innovation and utility rewards

Long-term utility is unclear
High floor price
Different series can be confusing to distinguish

Pricing: Over 2022, the floor price has ranged from 7.04 ETH to 18.21 ETH. It currently sits at 7.69 ETH as of May 25, 2022.

World of Women: Best NFT for a Diverse Community

Pricing: Floor Price of 4.14 ETH as of May 25, 2022

4.72

★★★★★

Visit

While cryptocurrency communities are notably male-centric, World of Women is a project created by women to encourage a more diverse NFT community.

A notable feat of the World of Women is its partnership with the play-to-earn blockchain game, The Sandbox. The partnership’s primary focus will be a $25 million grant used to bring cryptocurrency education to women.

World of Women Overview

Art

The artwork features 10,000 unique images of randomly generated women

Community

Notable owners of World of Women NFTs include Eva Longoria, Reece Witherspoon, and Dez Bryant.

Utility

As a holder of World of Women NFT, you get direct access to involvement in several philanthropic movements.

Team

Designer, Yam Karkai, created the NFT artwork.

Roadmap

World of Women aims to provide free cryptocurrency education to women around the world, which offers a different sort of value compared to BAYC, for example.

Why we chose it: The World of Women collection is the best NFT for diversity and inclusion because it’s created by women

Most popular female-inclusion NFT collection
Supported by multiple female celebrities
Partnerships with other projects

Inherently excludes male investors
Highly fluctuating floor price
Decreasing sales volume

Pricing: Over 2022, the floor price has ranged from 2.04 ETH to 13.33 ETH. It currently sits at 4.14 ETH as of May 25, 2022.

Fidenza Art Blocks: Best NFT for Generative Art

Pricing: Floor Price of 72 ETH as of May 25, 2022

4.62

★★★★★

Visit

Art Blocks was the first-ever NFT project dedicated to generative art. This means that these NFTs are created using a programmable algorithm to generate unique art pieces.

Fidenza Art Blocks Overview

Art

The Fidenza Art Blocks were created using a versatile generative algorithm. As such, this is the most famous NFT collection that was designed entirely by computer code and not by an artist.

Community

The Fidenza Art Blocks has a strong community of passionate art enthusiasts and programmers.

Utility

The core utility of a Fidenza Art Blocks NFT is that it’s a piece of art that will likely continue rising in price.

Team

The project was created by Tyler Hobbs, a prominent NFT artist.

Roadmap

Tyler Hobbs will continue creating innovative art in the NFT space, giving Fidenza holders first access.

Why we chose it: Fidenza Art Blocks is the best NFT for generative art because it uses computer algorithms instead of real-life artists.

Extremely unique artwork
Computer-generated
Massive total sales volume

Exceedingly high floor price
Limited collection
Hard to continue innovating

Pricing: Over 2022, the floor price has ranged from 39 ETH to 89.36 ETH. It currently sits at 72 ETH as of May 25, 2022.

Cool Cats: Best for Active Community

Pricing: Floor Price of 3.15 ETH as of May 25, 2022

4.54

★★★★★

Visit

After its release in July of 2021, Cool Cats quickly gained the number three spot in relation to popularity and sales on OpenSea. If you want to learn how to buy NFTs, you can purchase them using Ethereum and other cryptocurrencies on OpenSea, Rarible, and SuperRare. Once you purchase an NFT, you can store it in the best NFT wallet, MetaMask.

Today, the Cool Cats community still has an active and vibrant community. Although the founders have a goal to innovate and push the NFT space forward, Cool Cat’s roadmap is a little unclear.

Nonetheless, the project founders are public and are known for being leaders in the cryptocurrency market. This project went viral a week after its release when Mike Tyson changed his Twitter profile picture to a Cool Cat NFT. Other owners include Steve Aoki, Reece Witherspoon, and Reddit co-founder Alexis Ohanian.

Cool Cats Overview

Art

The Cool Cats NFT collection features 2D cartoon cat drawings.

Community

Cool Cats has nearly 100,000 Discord members.

Utility

Cool Cats is working on brand collaborations and rewards its holders with exclusive NFT airdrops and giveaways.

Team

Cool Cats was founded by Clon, Xtremetom, Lynqoid, and Elu. These are all prominent developers in the blockchain space.

Roadmap

Cool Cats is building Cooltopia, a gamified ecosystem built on utility and interactivity. Holders can expect community rewards and continued growth in the metaverse.

Why we chose it: Cool Cats is the best NFT with an active community because every Cool Cats owner gets a warm welcome to the Cool Cats universe, Cooltopia. This is the Discord server, Cool Cats marketplace, and exclusive access to the founding team.

Low floor price
One of the first popular NFT collections
Massive total sales volume

Simple artwork
Lost its initial popularity
Outpaced by newer projects

Pricing: Over 2022, the floor price has ranged from 3.15 ETH to 16.07 ETH. It currently sits at 3.15 ETH as of May 25, 2022.

CyberKongz: Best NFT for Token Earning

Pricing: Floor Price of 24.99 ETH as of May 25, 2022

4.49

★★★★★

Visit

Released two months before the Bored Ape Yacht Club, CyberKongz is a pixelated batch of NFT gorillas. CyberKongz is often referred to as the first NFT collection with utility. At the start, the collection included 1,000 genesis Kongz. These 1,000 Kongz generated 10 $BANANA, a cryptocurrency token, per day.

CyberKongz owners who owned two Kongz and 600 $BANANA could breed their NFTs to create a BabyKong. Although BabyKongz don’t generate tokens, owners could sell them for thousands of dollars.

As such, CyberKongz gained popularity because of its ability to generate passive income. At its all-time high, $BANANA tokens were selling for $20 each. Since Genesis Kongz produces 10 tokens per day, holders earned $200 per day just by holding the NFT.

CyberKongz Overview

Art

The CyberKongz NFT collection features randomly generated 2D and 3D gorillas.

Community

CyberKongz has a strong community of over 300,000 Twitter followers, and it’s often compared to the top NFT BAYC.

Utility

Holding a CyberKongz NFT allows you to earn $BANANA, CyberKongz’s cryptocurrency token.

Team

The artist, Myoo, created CyberKongz in early 2021.

Roadmap

CyberKongz continues to reward its holders through exclusive airdrops and token earning.

Why we chose it: CyberKongz is the best NFT for token earning because you can generate $BANANA to redeem exclusive rewards or sell for USD.

Utility
Passive Income
First-mover NFT project

$BANANA has decreased
High floor price
Limited collection

Pricing: Over 2022, the floor price has ranged from 21.26 ETH to 116.60 ETH. It currently sits at 91 ETH as of May 25, 2022.

HAPE PRIME: Best NFT for 3D Art

Pricing: Floor Price of 0.74 ETH as of May 25, 2022

4.26

★★★★★

Visit

HAPE PRIME by HAPE BEAST generated tons of buzz on social media for its release in January of 2022. These NFTs feature 3D artwork and are targeted toward hypebeasts, which are streetwear fashion enthusiasts.

This NFT collection plays off of the success of the Bored Ape Yacht Club. Although there have been many ape-based projects, HAPE PRIME is one of the most successful derivative ape collections.

HAPE PRIME Overview

Art

HAPE PRIME features 3D apes wearing stylish and trendy clothing.

Community

This NFT collection has a community of over 300,000 Twitter followers.

Utility

Owning a HAPE PRIME NFT grants you access to exclusive off-chain gifts and wearable loyalty badges.

Team

Matt Sypien is the founder and creative designer of HAPE PRIME. He previously worked at Chelsea Football Club and Digimental Studio as a design director.

Roadmap

HAPE PRIME will be dropping its clothing line in late 2022.

Why we chose it: HAPE PRIME is the best NFT for 3D art because the artwork features ultra-stylish apes wearing various streetwear apparel.

Low floor price
Affordable
High-potential roadmap

Has lost its initial steam
Dramatically lower floor price than all-time-highs
Success based on community involvement

Pricing: Over 2022, the floor price has ranged from 0.66 ETH to 4.41 ETH. It currently sits at 0.74 ETH as of May 25, 2022.

Methodology for the Best NFTs to Buy

There’s an abundance of different NFT collections, and new collections releasing every day. Therefore, selecting the right NFT project to invest in is a difficult task. When searching for the Best NFTs to buy, here is the criteria we used to rank our list. This criterion explains what is an NFT and how to distinguish good NFT ideas from bad ones.

Art: Most NFTs are digital art pieces made by various artists. For this reason, it’s important to find NFTs you find attractive. Although art is subjective, you should like the art of the NFT you want to purchase. Read our article on how you can create your own NFTs.
Community: All successful NFT projects have strong communities and dedicated supporters. Without a loyal community, the NFT project will likely fail. An NFT’s community typically lives on the NFT’s Discord. In the Discord, they will talk about the project, cryptocurrency in general, and other non-related topics. You can gauge how strong the community is by seeing how active the chat is and how willing the members are to help each other.
Utility: Utility is the extra benefits you receive from an NFT for being the owner. A few examples of utility include real-life events, crypto tokens, additional NFT airdrops, and early access to collaboration projects. Strong utility usually indicates a high-potential NFT project.
Team: Since there are so many NFT projects, one way to differentiate them is by looking at the founding team. You should see if the founders are public or anonymous. Some founders are public and have previous work experience at big tech companies. If a team is fully anonymous, there’s always a risk that they rug pull the project. If the team members are public, you can look at their backgrounds to see if they have the skills to turn the project into a massive success.
Roadmap: An NFT project’s roadmap is a timeline of future events, releases, and updates. You can judge an NFT project based on how realistic the roadmap is and what type of unlocks it offers.

Frequently Asked Questions (FAQs) for Best NFTs to Buy

Below are a few common questions surrounding the best NFTs to buy in 2023.

Are NFTs a good investment?

NFTs can be a good investment if the NFT project you choose has a high potential to become a long-term success. However, most NFTs tend to lose value over time. Therefore, it’s important to invest only the money you are willing to use. Never throw your life savings into an NFT collection because NFTs are high-risk assets.

What are the most popular NFTs?

The most popular NFT projects are the Bored Ape Yacht Club and CryptoPunks. These two collections are owned by many notable celebrities such as Steph Curry, Snoop Dogg, Justin Bieber, Neymar Jr, Eminem, and Mark Cuban. The NFTs with the highest floor prices are typically the most popular.

Will NFTs go up in value?

All NFTs have the potential to go up in value. You could have minted a Bored Ape Yacht Club NFT for .08 ETH when it was released in April 2021. The same NFT would have been worth over 100 ETH in April of 2022, netting over a 1000x increase.

What is the most expensive NFT ever sold?

The most expensive NFT ever sold was called “The Merge,” created by artist PAK. This NFT sold for $91.8 million. However, this wasn’t purchased by a sole investor. Instead, 30,000 collectors contributed to the $91.8 million and now have shared ownership over the NFT.

Bottom Line on the Best NFTs to Buy

The long-term success of an NFT project depends on the NFT’s community, team, utility, and roadmap. Bored Ape Yacht Club and CryptoPunks are the top two blue-chip NFT projects with the least built-in risk. However, all NFT projects have massive fluctuations in pricing because of the cryptocurrency market’s volatility.

July 8, 2022November 23, 2022

How to Create NFT in 7 Steps & NFT Ideas to Create Now

Non-fungible tokens (NFT) are taking the digital world by surprise – it’s changing the way we buy and sell digital art, brand products, and experience the internet. If you are already sold on the idea of the NFT craze and want to surf in this wave, we’ve listed seven ways to create your own NFT and how you can do it.

How to Create NFT & NFT Ideas to Create Your Own NFT

NFT stands for Non-Fungible Token, which means that each token represents a unique item. Think of it in this way – fungible is a synonym for non-replaceable – some things are unique, and even if there’s a copy, the original is only one, like the Mona Lisa. Or a Picasso’s painting. For instance, Bitcoin is fungible, you can trade one coin for another, and that will be the exact same coin. An NFT is a one-of-a-kind digital file, which means non-fungible. Things like art, collectibles, photos, songs and even real estate can be turned into tokens.

These NFTs can only have one official owner at a time and most of them are secured by the Ethereum blockchain – no one can modify the record of ownership or copy and paste a new NFT into existence.

How Do NFTs Work?

NFTs are individual and unique items with blockchain records that store information about the digital file. The NFT’s market value is set by the market demands and the transfer among owners is noted on the blockchain as well. The market fluctuates dramatically, so you may see it up or down any given month. In 2022, there has already been more than $37 million invested in NFT marketplaces, according to Chainalysis.

How to Create an NFT

Now that you understand what a Non-Fungible Token is, maybe it’s time to consider creating your own NFT and selling it. If you aren’t convinced about its worthiness, think of the NFTs that have gone viral such as the Bored Ape Yacht Club which cost $190 at launch last April and now they go for over $400,000 (more about it later on).

Let’s say you come up with a really cool digital sticker idea and you believe in its potential to become the next Bored Ape or a Nyan Cat, it is time to get your hands dirty. We’ve listed the seven steps to creating an NFT.

Step 1: Choose the NFT Content

Digital art, similar to real-world art is open to all kinds of creative forms. If you decide to create an NFT, you need to choose its format and generate an NFT from any multimedia file. An NFT can be a digital painting, a GIF, a photo, a text, audio, a 3D image, or a video from some notable event. But it doesn’t stop here – NFTs can also be virtual items like a virtual sneaker, avatars, and even virtual lands in the metaverse.

Step 2: Pick Your Format

The second step is to choose the format. Keep in mind that after deciding what content and in which format you wish, you will need to convert it to a suitable file type, especially if it is not already digital. Most items tend to be stored as portable network graphics (PNG) or graphics interchange format (GIF) files. Texts would typically be available in portable document format (PDF), while music would likely be stored as MP3 and video kept as MP4.

Step 3: Mint your creation

The process of turning a digital item into an asset on the blockchain is called minting – similar to minting a coin – and that’s what you will do next. This step is what makes your Non-Fungible Token unique, tamper-proof, and impossible to be deleted – once it’s recorded in a distributed ledger or decentralized database. Minting an NFT can be daunting, so you can follow this step-by-step guide here.

Step 4: Choose the NFT Marketplace

Now that you have pre-minted your NFT, it is time to pick the marketplace you want to sell it. There are a few websites out there, but the most popular is OpenSea – often called the Amazon of NFTs.

However, choosing the right marketplace is an essential part of minting NFTs, as this depends on many things, including certain blockchain types, supported standards and formats, accessibility, and a price to mint an NFT (in most platforms, this process is paid).

These marketplaces differ in various aspects, such as different focus, niches, pricing, and user interface, so do proper research to narrow down your preferences and choose one that suits your needs.

Most NFTs are commercialized under Ethereum, although Ethereum does not have a monopoly on NFTs. When looking to mint a token on the blockchain, users will be required to pay a gas fee – that refers to the contribution the user will make to compensate for the computing energy used to process and validate transactions on the blockchain.

Step 5: Get a Wallet

According to the basic blockchain principle, anything related to cryptocurrency transactions is done through a crypto wallet – that eliminates the need to store user account data. Like a physical wallet, a crypto wallet lets you store and buy your cryptocurrencies. There are many wallets to choose from, and they can be both downloaded on a smartphone or accessed in an internet browser.

Step 6: Buy Crypto

As mentioned, most of the NFT marketplace transact NFTs with Ethereum. If you don’t own any ETH, you can purchase some from a reputable broker or cryptocurrency exchange and store it in your wallet.

Step 7: Follow the Instructions

Each NFT marketplace has specific instructions creators will need to follow in order to create a Non-Fungible Token. Following the instructions are important because this will determine the chances of selling your creation.

Generally speaking, you will need to upload the file and fill it in with an attractive description and title. Then, you might be asked to choose whether to mint a single token or a whole collection. Next, you will need to decide the way you want to sell your NFT: fixed price or auction. Depending on the marketplace, you’ll be able to choose a royalty percentage, that is the amount you will get when future collectors sell your NFT.

Best NFT Wallets

An NFT wallet is a cryptocurrency wallet that supports the blockchain protocol that NFTs are built on. Crypto wallets help users exchange and store NFTs by providing them with a private key to the address where the NFT is stored.

However, not all crypto wallets can hold NFTs, so it’s important to check which crypto wallets include NFT wallets that manage assets on the consumer’s behalf. The most popular NFT wallets are Coinbase Wallet, Meta Mask, and Math Wallet.

4 NFT Ideas to Try

An NFT could represent many things, such as:

Digital Art:

GIFs
Collectibles
Music
Videos

Real-World Items:

Deeds to a car
Tickets to a real-world event
Tokenized invoices
Legal documents
Signatures

Some examples of NFTs that exist today, so you can get the idea:

Artwork collection

One of the most popular NFT collections is the Bored Ape Yacht Club. The collection of thousands of bored apes started at less than $200, and the cheapest now costs $420,000 (145 ether).

Another example includes the renowned digital artist Beeple, who managed to auction one of his collections for $69 million dollars at Christie’s and broke the NFT record pricing.

Gaming items

NFTs take the in-gaming experience to the next level. Gamers can generally buy items and upgrade their avatars, but with an NFT, they can recoup their money by selling the items once they’re finished with them. But it’s not limited to it – games founded on the blockchain can develop their NFT, such as The Sandbox and Decentraland, which both sell virtual properties for as high as a few million dollars.

Memes

As far as creativity goes, you can also profit from making memes. NFTs of memes can make millions with viral content. Recently, a common meme called Bad Luck Brian was sold for $36,000.

Tweets

The first tweet ever tweeted in the history of Twitter was in March 2006 by Jack Dorsey, CEO of Twitter, and was purchased for $2,915,835. The trade was supported by the Valuable by Cent platform, a special type of platform which deals with signed tweets from original creators, creating a world where people can earn from viral tweets.

How to Flip NFT for Profit

In the blockchain vocabulary, flipping is a loose term for buying an NFT for a low price and selling it when the price is high. To spot potential in an NFT, there are a few key factors you should bare in mind:

Benefits: Does the NFT offer any perks? Or is it simply a digital asset with no value? Some companies are using NFTs to access exclusive membership clubs and real-world events such as gigs and live concerts.
Community: Follow the online interest on a given NFT – how much are people talking about it on social media, forums, or YouTube videos? Look at the engagement around it, do you think many people believe in it?
Credibility: Like everything that’s new and unregulated, is more likely to be prone to scams and frauds. Make sure you know the team behind the NFT project and whether they’re trustworthy and credible – which is essential for your success and investment.
Uniqueness: While the quality of the art project isn’t a determining factor, you should be able to spot the chances of the NFT becoming an icon. Similar to a real art painting, think of the aesthetic of the project, the uniqueness, the creativity, and features. Read more on how to flip NFTs here.

How to Buy an NFT

Now that you have identified which NFTs are worth investing in, it’s time to buy some. There are two ways to do it: minting an NFT when the price drops and buying an NFT on a secondary marketplace.

Most NFT collections are released at low prices and sometimes even for free. But since high quality and trending NFTs are hard to mint, most of these projects release whitelists for those who want to guarantee access when the collection goes live.

To get whitelisted, join the project’s Discord group to learn its criteria for eligibility, and the date and time the NFT collection will go live. You can also opt for buying NFTs on a secondary market by making an offer to the NFT seller.

Frequently Asked Questions (FAQs) for How to Create an NFT

Here are some frequently asked questions about how to create your own NFT and some NFT ideas.

Can I make my own NFT and sell it?

Absolutely. There are many types of NFTs formats and content – you can create your own and you can sell your creations in the NFTs marketplace. After creating your artwork, you’ll need to choose a format, a marketplace platform, get yourself an NFT wallet and own some Ethereum.

What are some good NFT ideas?

There are many possibilities in the NFT realm, so you can get creative in many areas, such as art, games, music, memes, furniture, virtual lands, and viral videos.

How much does it cost to launch an NFT collection?

Depending on the marketplace platform, you will usually be required to pay the gas fees associated with creating your NFTs, as well as site fees, and listing fees. Some of these fees could be minimal, while some could cost upwards of $800 or more.

Can I create and sell an NFT for free?

Some platforms allow users to upload and sell their NFTs for free with no need to pay gas fees or other fees associated with selling NFT. However, some platforms such as OpenSea will allow users only to mint for free but not sell.

Bottom Line on How to Create an NFT

Similar to artwork, the sky’s the limit for creating NFTs. The success of an NFT depends on many factors, but mostly on creativity, selling skills, and luck. A high-quality, unique, and captivating NFT, with a well-written description, may turn into a viral digital asset.

Buying and selling Non-Fungible Tokens requires a few things: an NFT crypto wallet, owning some Ethereum (for most NFTs), and an account in an NFT marketplace. Once up and running, the NFT data is recorded into the blockchain and it can only have one official owner at a time – of course, copies can be done, but there’s only one original like there’s only one Mona Lisa.

July 7, 2022November 23, 2022

8 Best NFT Wallets of 2023

8 Best NFT Wallets of 2022 - NFT illustration

An NFT wallet lets you securely store, buy, sell, and swap non-fungible tokens (NFTs) and cryptocurrencies. The best NFT wallet charges low gas or trading fees and lets you trade or bid on NFTs–not just collect and store them. Our top picks for best NFT wallets include Enjin, AlphaWallet, and MetaMask.

Best NFT Wallets of 2023

Enjin – Best Overall
AlphaWallet – Best for NFT Transactions
MetaMask – Best for All-Purpose Use
Coinbase Wallet – Best for Wallet Compatibility
Math Wallet – Best for Blockchain Support
ZenGo – Best for Customer Service
Exodus – Best for Ease of Use
Trust Wallet – Best for Crypto Flexibility

Enjin

Free

Trading fees

Store, buy, sell, trade, collect & create NFTs

ETH NFTs

Yes

NFT crypto wallet

Mobile app

Yes

20 million

Ticket submission + Contact form + Help center

AlphaWallet

Free

Gas fees

Store, sell, transfer, bid for & mint NFTs

ETH NFTs

Yes

Web3 wallet

Mobile app + APK

Yes

Not specified

Contact form

MetaMask

Free

Transaction fees

Store & trade NFTs

ETH & ETH-based tokens

Yes

Crypto wallet

Desktop browser + Mobile app

Yes

30 million

Help center + Community channels

Coinbase Wallet

Free

Transaction fees

Store, buy, sell, trade & collect NFTs

ETH & ETH-based tokens

Yes

Crypto wallet

Desktop browser + Mobile app

Yes

Not specified

Email / Contact form + Help center

Math Wallet

Free

Cloud wallet fees

Store, send & receive NFTs

ETH, BSC & DEGO NFTs

Yes

Web3 wallet

Desktop browser + Mobile app + Hardware

Yes

1.2 million

Customer service system

ZenGo

Free

Networking, processing, spread & conversion fees

Store, buy, transfer & mint NFTs

ETH NFTs

Yes

Crypto wallet

Mobile app

Yes

500,000

24/7 support specialist

Exodus

Free

Network or miner fees

Store, send & receive NFTs

ETH & SOL NFTs

Yes

Crypto wallet

Desktop browser extension only for NFTs

Yes

Not specified

Email + Facebook + Twitter

Trust Wallet

Free

Network fees

Deposit & buy NFTs only

ETH & BNB / BSC NFTs

Yes

Crypto wallet

Mobile app + APK

Yes

25 million

Ticket submission

Enjin: Best Overall

Free

★★★★★

4.5

Visit

Enjin is our top pick in this roundup of best NFT wallets because it blends together NFT trading opportunities, rare NFT collections, and NFT project tools. It specializes in NFTs, unlike many crypto wallets that only have NFT features as secondary add-ons.

First of all, the Enjin Marketplace is a venue where you can trade digital artwork, branded crypto-collectibles, digital fashion, and gaming items. It gives you the chance to buy, sell, and swap Ethereum (ETH) NFTs with around 20 million users. So far, 3.2 million digital objects have already been traded in the marketplace.

Enjin wallet app displays NFT gallery, while user transaction snapshots surround the smartphone — *Source: Enjin*

Next, it helps you find rare NFTs which you can add to your growing collection. It guides you in searching for pioneering blockchain projects that showcase unique digital assets.

Finally, it equips you to bring your NFT ideas to life through a tech stack. You can create NFT projects related to art, music, gaming, and sports. Also, you may mint tokens like collectibles and custom coins via a visual interface that doesn’t require coding.

While Enjin is a winner in more ways than one, there’s some room for improvement. For example, you can only install the mobile app in your smartphones so you can’t monitor your NFTs on your desktop.

Aside from this, it’s not easy to estimate the trade fees because it can be determined either per transaction or per item. Last but not least, customer support is only available during working days so you can expect delayed answers if you ask questions on weekends.

All in all, Enjin leads the pack because of its versatile set of NFT features.

Enjin Overview

Price

The Enjin mobile app is free to download from the Google Play Store or Apple App Store, just like all the other NFT wallets with mobile apps in the list. Afterwards, you can install the free app in your Android or iOS smartphone.

Fees

You must pay fees when you perform transactions via Enjin, similar to the rest of the NFT wallets in this roundup. There are two main types of trading fees you can pay when you use Enjin. The first one is per transfer, which involves a flat fee per transaction. The second one is per item, which entails a fee for every item that’s transferred.

NFT Management

Enjin has the widest range of NFT management functions out of all the wallets in the list, with AlphaWallet coming a close second. It allows you to store, buy, sell, trade, collect, and create NFTs using a single wallet.

NFT Compatibility

At present, Enjin only supports the storage and transactions of ETH NFTs like most out of the wallets in this roundup. The only exceptions are Math Wallet, Exodus, and ZenGo which are compatible with other NFT blockchains, in addition to ETH. That’s alright because NFTs in the ETH blockchain are one of the most popular types of NFTs in the market.

Cryptocurrency Management

Aside from NFTs, you can use Enjin to keep and trade different types of cryptocurrencies, which is also the case as all its competitors. These include ETH, Bitcoin (BTC), Litecoin (LTC), and hundreds of other cryptocurrencies.

Wallet Type

Enjin is the only product in the lineup that identifies itself as both an NFT wallet and crypto wallet. In contrast, the rest of the wallets classify themselves exclusively as a crypto wallet or Web3 wallet.

App Support

Enjin is currently available as a mobile app only, similar to Alpha Wallet, ZenGo, and Trust Wallet. There aren’t any desktop versions, which MetaMask, Coinbase, MathWallet, and Exodus have.

Earning Potential

It’s possible for you to generate income via Enjin, which is also the case with most of the NFT wallets. You can earn revenue by receiving a percentage of Enjin Marketplace transactions and peer-to-peer trade.

Users

At present, there are 20 million users of Enjin and counting whom you can potentially swap NFTs and cryptocurrencies with. Among the NFT wallets featured in this guide, it has the third highest number of users, next to MetaMask and Trust Wallet.

Customer Service

Enjin support comes in the forms of ticket submission, contact form, and help center. Take note that customer service is only available during weekdays, not weekends. During working days, you can expect a reply to your ticket submission within 12 hours.

Its customer service is limited compared to Math Wallet and ZenGo, which gives you the chance to talk to live agents. Still, the three types of support are better than what most of the other wallets offer, with only one or two forms of basic support.

Why we chose it: We crown Enjin as the best overall NFT wallet because it successfully covers all aspects of NFT trading, collection, and creation. It’s the perfect choice for you if NFT management is your number one priority.

Rich NFT features
NFT rare finds
NFT project tools

No desktop app
Changeable pricing scheme
Weekday support only

Pricing:

App Installation: Free
Trading Fee: Designated per transfer or per item

AlphaWallet: Best for NFT Transactions

Free

★★★★★

4.0

Visit

AlphaWallet has an edge over other NFT wallets because it equips you to perform different kinds of NFT transactions, almost as much as Enjin. For starters, it guides you to find the best NFTs to buy.

Aside from selling and transferring NFTs, you can also mint new NFTs and bid in auctions for existing ones to expand your collection. You can even use the NFT-related DApps in the built-in DApp browser.

AlphaWallet mobile app displays token collection categories. The smartphone is placed on the left, while a cartoon man holding a big NFT coin approaches it from the right — *Source: AlphaWallet*

Plus, it gives you the chance to earn profits through tokens that are based on the ETH blockchain, including NFTs, collectibles, and stablecoins. It motivates you to earn interest through lending. Also, it allows you to earn a percentage by providing liquidity to other users.

Last but not least, it keeps your non-custodial wallet safe via the Secure Enclave feature. It claims to be the first ever ETH wallet to use this advanced technology. It offers a hardware-grade level of security to shield your NFTs and cryptocurrency coins from cyber crime.

However, AlphaWallet has some limitations as well. For instance, it’s hard to determine the gas fees because the pricing isn’t straightforward. Aside from this, there’s no desktop software so you have no choice but to use the mobile app. Finally, the support is very basic because you can only send queries via the contact form.

To sum things up, AlphaWallet makes it possible for you to complete several kinds of NFT transactions, which is why it earns the second highest spot in the list.

AlphaWallet Overview

Price

You can download the free AlphaWallet mobile app from the Apple App Store or Google Play Store, similar to all the NFT wallets with mobile apps in the list.

Fees

You need to pay gas fees when you use AlphaWallet, just like all NFT wallets in this roundup. It checks optimal gas prices for your NFT and cryptocurrency transactions, as well as permitting you to set your own prices.

NFT Management

AlphaWallet has more NFT management features than most of the wallets in the list, nearly as much as Enjin. It enables you to store, sell, transfer, bid for, and mint NFTs.

NFT Compatibility

It lets you access NFTs on the ETH network, similar to the majority of the wallets in the roundup. Plus, you can use NFT-related DApps via the built-in DApp browser.

Cryptocurrency Management

Like all its competitors, it works with various cryptocurrencies, such as ETH and Tether (USDT). You can use it to store, send, and earn digital assets.

Wallet Type

AlphaWallet is officially marketed as an open-source Web3 wallet, similar to Math Wallet. The other alternatives are categorized as crypto wallets.

App Support

It’s available as a mobile app for iOS and Android smartphones, just like Enjin, ZenGo, and Trust Wallet. Alternatively, you may directly download the Android APK from the AlphaWallet website.

Earning Potential

You can earn income by using AlphaWallet, just like all of the other wallets. All you need to do is perform DeFi transactions on ETH tokens and assets.

Users

At present, the AlphaWallet website doesn’t contain information on the number of wallet users.

Customer Service

The only way to reach out to AlphaWallet is via the contact form. It’s currently the only type of support that exists for this wallet. This level of support is barebones compared to ZenGo and Math Wallet’s personalized service.

Why we chose it: We award AlphaWallet as the best for NFT transactions among NFT wallets because it lets you maneuver your NFTs in various ways. It’s a viable alternative for you if you’re planning to maximize the potential of NFTs.

Diverse NFT transaction types
DeFi earning avenues
Secure Enclave

Confusing gas fee computation
No desktop app
Contact form support only

Pricing:

App Installation: Free
Gas Fee: Network fee based on ETH network transactions

MetaMask: Best for All-Purpose Use

Free

★★★★★

4.0

Visit

MetaMask is a noteworthy multipurpose NFT wallet because of its well-rounded features.

First, it protects your tokens through a key vault and secure login. It keeps your passwords, private keys, and secret recovery phrase in an encrypted format in the local drive of your device. As a result, it minimizes the risk of losing your digital assets as you buy, swap, or save tokens. Learn more about the risks (& pros) of investing in crypto here.

This crypto wallet is compatible with the ETH blockchain and all ETH-based tokens like ERC20 and 721. On top of this, it supports DeFi and Web3 Dapps.

Four smartphones in a row showing different menus of MetaMask wallet — *Source: MetaMask*

Plus, you can install it in iOS and Android smartphones, as well as desktop browsers like Chrome, Edge, Firefox, and Brave. Finally, you can possibly earn interest on ETH and win prizes by storing money in MetaMask.

Nevertheless, MetaMask does have a few drawbacks. While the app is free to download and install, you will be charged a hefty service fee of 0.875% when you swap tokens with other users. It’s worth it though because you’ll have the opportunity to trade NFTs with around 30 million users.

Also, it skimps on customer service, which only comes in the barebones form of a help center and community channels. Lastly, it’s not compatible with BTC, which is one of the well-known cryptocurrencies in the market.

Overall, MetaMask is widely used as a safe wallet which you can use for a variety of reasons, including basic NFT management.

MetaMask Overview

Price

There are free desktop and mobile apps of MetaMask which you can download to your computer and smartphone, just like all the other NFT wallets with desktop and mobile apps in the list.

Fees

You’re required to pay a service fee every time you trade tokens with fellow users, similar to all the NFT wallets in this roundup. Nevertheless, MetaMask is the only wallet in this list with straightforward pricing of 0.875%, in contrast to the rest that have variable rates.

NFT Management

MetaMask can be used to store and trade NFTs. While it’s limited compared to Enjin and AlphaWallet, it’s still sufficient for basic NFT transactions.

NFT Compatibility

Like most wallets in the roundup, it supports all types of NFTs that are based on the ETH chain, such as ERC20 and 72.

Cryptocurrency Management

Similar to all its competitors, Metamask is compatible with a variety of cryptocurrencies, including ETH and BNB. It allows you to trade tokens and play crypto games.

Wallet Type

MetaMask is technically categorized as a crypto wallet like most of the other alternatives.

App Support

You have the option to install MetaMask in either desktop browsers or Android and iOS mobile phones, similar to Coinbase and MathWallet.

Earning Potential

It’s possible for you to earn crypto by using MetaMask, just like with other wallets. Just participate in open-source projects and create content.

Users

There are now approximately 30 million users of MetaMask whom you can potentially interact with. It has the highest number of users among all the NFT wallets here, followed by Trust Wallet and Enjin.

Customer Service

You’re pretty much on your own when it comes to MetaMask, in contrast to other wallets like Math Wallet, ZenGo, and Enjin that let you communicate with actual people. Instead, you must do self-research because MetaMask doesn’t have any phone, chat, or email support. You can only rely on the help center and community channels.

Why we chose it: We commend MetaMask as the best for all-purpose use among NFT wallets because you can install it in most devices for general use. It’s a good fit for you if you need a free multipurpose crypto wallet with some NFT features.

Useful, safe crypto wallet
Supports ETH & ETH-based tokens
Both desktop & mobile apps available

Fairly high transaction fee
Limited customer support
Not compatible with BTC

Pricing:

App Installation: Free
Service Fee: 0.875%

Coinbase Wallet: Best for Wallet Compatibility

Free

★★★★★

4.0

Visit

Coinbase Wallet is unique among NFT wallets because it’s part of a social marketplace. As a result, Coinbase NFTs are not just compatible with the native wallet, but also with MetaMask and other ETH-based crypto wallets. The communal nature of the system opens the door to interactions with users of other NFT wallets.

In addition to this, this non-custodial wallet has solid security features. To protect your privacy, it allows you to send and receive crypto via usernames instead of public wallet addresses. Also, both the cloud backup and recovery phrase keep your digital assets safe.

To make things even better, the decentralized wallet equips you to buy, sell, and trade NFTs. It showcases visually appealing collections of NFTs which you can explore, while helping you search for and connect with other NFT creators and collectors.

Coinbase Wallet app showing NFT bidding button for colorful sphere digital artwork — *Source: Coinbase*

On the downside, there are only comparatively few users of Coinbase. While the official website doesn’t display the number of users, third-party websites estimate that there are only over 1,000 Coinbase users at present.

Next, it’s challenging to guess the transaction fees since they fluctuate over time. Aside from this, you can only browse through the help center or send an email via contact form if you need technical assistance.

In general, Coinbase Wallet serves as a collective space where NFT creators and collectors can complete NFT transactions in one marketplace.

Coinbase Overview

Price

The Coinbase mobile app is free to download from the Google Play Store and Apple App Store. Also, there’s no charge to get the browser extensions. Both are complimentary like all the other NFT wallets with mobile apps and browser add-ons in the list.

Fees

You must pay network fees for outgoing transactions, which is also the case for the rest of the NFT wallets in this roundup. These include sending or trading crypto and using DeFi or DApps.

NFT Management

Coinbase has a fair number of NFT features, although not as much as Enjin and AlphaWallet. It makes it possible for you to store, buy, sell, trade, and collect NFTs.

NFT Compatibility

This wallet is only compatible with ETH-based tokens, which is the case for most wallets in the roundup.

Cryptocurrency Management

Just like all its competitors, it lets you buy and sell different types of crypto like BTC, ETH, Cardano (ADA), and Solana (SOL).

Wallet Type

Coinbase is classified as a crypto wallet, similar to the majority of the other alternatives.

App Support

Coinbase has both mobile and desktop options like MetaMask and Math Wallet. You can install the mobile app on your Android or iOS smartphone. Plus, you can add a browser extension to your desktop Chrome software.

Earning Potential

You have the opportunity to receive crypto through Coinbase, similar to the rest of the wallets. You just have to watch tutorials and complete quizzes on the website.

Users

Currently, there are only more than 1,000 users of Coinbase. In this roundup, it has the lowest number of users among the NFT wallets with user statistics. Still, you have the chance to trade with users of other crypto wallets through the social marketplace.

Customer Service

Customer support is only provided through the email contact form or help center. While customer service is not as strong as ZenGo or Math Wallet, at least it lets you reach out to the support team via messaging, unlike MetaMask.

Why we chose it: We recognize Coinbase Wallet as the best for wallet compatibility among NFT wallets because it’s open, not just to native wallet users, but to users of other crypto wallets as well. It’s a suitable option for you if you want to transact with more people beyond the Coinbase community.

Compatible with MetaMask and ETH-based wallets
Safeguards wallet privacy
Allows buying, selling, and trading of NFTs

Relatively small Coinbase user base
Fluctuating transaction fees
Minimal customer support

Pricing:

App Installation: Free
Transaction Fee: Fees change over time

Math Wallet: Best for Blockchain Support

Free

★★★★★

4.0

Visit

Math Wallet sets itself apart from other NFT wallets by supporting a surprisingly long list of blockchains, which means you can trade many cryptocurrency types.

Even more importantly, it enables you send and receive various types of NFT collectibles, such as BSC, ETH, and DEGO. The blog or video tutorial on the website can be useful if you’re interested in learning how to buy and flip NFTs.

Math Wallet mobile app exhibiting NFT collectibles menu — *Source: Math Wallet*

On top of this, it offers MATH rewards so you can earn profits in several ways. You can gain interest on deposits and reap returns via auto daily compounding. Plus, you can get 1%-20% MATH mining power if you invite friends to use the wallet through an exclusive referral link.

Nevertheless, Math Wallet has some weaknesses as well. To begin with, the user interface (UI) of the NFT collections is awkward compared to the slick galleries of other NFT wallets.

Also, the website is difficult to navigate because it’s not divided into logical sections like the landing pages of its competitors. Lastly, the cloud wallet fees can be intimidating to calculate because the amount depends on the blockchain and related factors.

Math Wallet might not make a dazzling first impression because of its clunky web and app interfaces. Still, it could impress you upon second glance once you realize how many blockchains it collaborates with.

Math Wallet Overview

Price

Math Wallet is free to download as a mobile app or browser extension, similar to all the NFT wallets in this list which offer mobile and desktop versions. In addition to this, you can also use it for free as a web wallet. While it works with Ledger and WOOKONG Bio, you do need to purchase the hardware separately.

Fees

You’re required to pay when you use Math Wallet for transactions, just like all the NFT wallets in this roundup. You have to pay cloud wallet fees which are computed according to the blockchain type, along with KYC, manual approval, and 2FA requirements.

NFT Management

Math Wallet has basic NFT features, in comparison to Enjin and AlphaWallet. Still, it’s enough for common transactions. It permits you to store, send, and receive NFTs to broaden your NFT collection.

NFT Compatibility

It has an edge over other wallets in the roundup which are exclusively limited to ETH NFTs. After all, it supports NFT collectible in various formats, including ETH, DEGO, Binance Smart Chain (BSC).

Cryptocurrency Management

Math Wallet works with many cryptocurrencies, similar to all its competitors. Some examples of public chains it supports are Binance Coin (BNB), BTC, SOL, TRON, Enumivo (ENU), Flow (FLOW), and Filecoin (FIL).

Wallet Type

Math Wallet classifies itself as a multichain Web3 wallet, similar to AlphaWallet. The rest of the alternatives fall under the category of crypto wallets.

App Support

Math Wallet has the widest app support among all the wallets, with not just one or two but four options. First, the Math Wallet mobile app works with iOS and Android smartphones. Second, the browser extension supports Chrome, Edge, and Brave. Third, it works as a cloud wallet. Fourth, the app is compatible with certain hardware devices.

Earning Potential

You can generate income through Math Wallet, which is the same case with all the wallets. Some venues for earning are MATH rewards, interests, and referrals.

Users

At present, Math Wallet has approximately 1.2 million users you can trade with. It has the distinction of the fourth highest number of users in the list, distantly following MetaMask, Trust Wallet, and Enjin.

Customer Service

Along with ZenGo, Math Wallet has the best customer support among the NFT wallets in this list. The customer service system lets you talk with agents if you need technical assistance.

Why we chose it: We acknowledge Math Wallet as the best for blockchain support because of the overwhelming number of blockchains it’s compatible with. It’s an appropriate selection for you if you need to transact using a variety of NFTs and cryptocurrencies.

Generous blockchain support
Send and receive DEGO, BSC & ETH NFTs
MATH rewards

Clunky NFT collection UI
Website tough to navigate
Varying cloud wallet fees

Pricing:

App Installation: Free
Cloud Wallet Fee: Computed based on blockchain and connected factors

ZenGo: Best for Customer Service

Free

★★★★★

4.0

Visit

Source: ZenGo

ZenGo goes the extra mile by giving NFT wallet users like you 24/7 access to technical assistance via a support specialist.

It stands out among crypto and Web3 wallets which typically only come with sparse support options, such as contact forms and help centers. While these are helpful if you have basic questions, the personalized service of a live person is valuable when you have complex queries.

Plus, it taps into futuristic technology to safeguard your digital assets from phishing and hacking. There’s no need for you to create passwords because you can shield your account through facial biometrics, keyless encryption, and 3-factor recovery.

To top things off, Zengo provides a safe connection to Web3 via WalletConnect protocol. It lets you buy and transfer existing NFTs, as well as mint new ones. Also, it encourages you to participate in DeFi trades and lending, plus experience crypto gaming and DApps downloading.

Two smartphones show NFT menus on the left, plus a cartoon woman, dog, and man walks towards mountains on the right — *Source: ZenGo*

However, ZenGo does have some flaws. For instance, there’s no desktop version so you can only use the mobile app with your smartphone. In addition to this, you need to pay networking, processing, spread, and conversion fees to operators even if ZenGo itself doesn’t charge anything. Aside from this, tech newbies may find some of the advanced features intimidating.

Overall, ZenGo is worth taking a look at because of its superior customer service, given that most NFT wallets are stingy when it comes to technical support.

ZenGo Overview

Price

The ZenGo mobile app is free to download from the Google Play Store and Apple App Store, which is also the case for the rest of the NFT wallets in the list with mobile apps.

Fees

While all the NFT wallets in this roundup require transaction fees, ZenGo has more types of operator fees compared to the rest. These include network fees, processing fees, spread, and local currency conversion fees.

NFT Management

ZenGo has a solid set of NFT features, although not in the same level as Enjin and AlphaWallet. It equips you to store, buy, transfer, and mint NFTs.

NFT Compatibility

It works solely with NFTs on the ETH blockchain, similar to the majority of wallets in the roundup.

Cryptocurrency Management

Like all its competitors, ZenGo supports several cryptocurrencies, such as BTC, ETH, USDT, DOGE, Tezos (XTZ), and Polygon (MATIC).

Wallet Type

ZenGo is considered as a crypto wallet, which is the case with most of the alternatives.

App Support

You can only install ZenGo on your Android or iOS phones and devices, similar to Enjin, AlphaWallet, and TrustWallet.

Earning Potential

You may start earning profits through ZenGo, just like the rest of the wallets. It functions similarly to a savings account which grants you interest, but without any lockups.

Users

There are presently around 500,000 ZenGo users you may deal with. It’s the fifth highest and second lowest when it comes to the number of users in this list, although it has exponentially more users than bottom-placer Coinbase.

Customer Service

ZenGo provides round-the-clock assistance through the services of support specialists. That’s why it has the best customer service out of all the NFT wallets in this guide, similar to Math Wallet.

Why we chose it: We award ZenGo as the best for customer service among NFT wallets because it provides round-the-clock support. It’s a practical solution for you if you’re more comfortable asking questions from people than independently researching answers in help centers.

24/7 support specialist access
Cutting-edge security features
Web3 connection

No desktop app
Multiple operator fees
Complex features potentially intimidating to first-timers

Pricing:

App Installation: Free
Operator Fees: Amount depends on the operator and type of transaction

Exodus: Best for Ease of Use

Free

★★★★★

3.5

Visit

Exodus is ideal for beginners because this NFT wallet is easy to use and navigate. After all, the sleek yet simple UI is especially designed for novices. The NFT Gallery makes it a breeze to send, receive, and store ETH and SOL NFTs, thanks to colorful, basic tiles.

Two Exodus mobile app NFT gallery menus side by side — *Source: Exodus*

Plus, it’s a good place to start experimenting with crypto trading. The wallet is compatible with more than 180 cryptocurrencies. All you need is two taps to start exchanging crypto with other users.

Finally, it enables you to keep track of your crypto portfolio, such as daily changes, highest balances, plus best and worst assets. It even lets you monitor the latest trends in the cryptocurrency market.

Nevertheless, Exodus also has its drawbacks. A major flaw is that it only allows you to manage NFTs using the desktop browser extension. Since it does let you trade cryptos using mobile or hardware platforms, it would have been better if it also equipped you to perform NFT transactions while on the go.

Also, you must pay network fees and miner fees for most transactions, although the amount goes to operators and not to Exodus. Lastly, it can be cumbersome to message the support team. Instead of directly providing a contact form, the website directs you to external links like Facebook, Twitter, or your default email program. It’s miles away from the customer support of Math Wallet and ZenGo.

Exodus Overview

Price

You can download the Exodus browser extension for free on your desktop if you want to manage your NFTs, similar to all the NFT wallets in the list with browser add-ons.

Fees

You are required to pay network fees when you send, receive, or withdraw crypto using Exodus, just like all the NFT wallets in this roundup. On top of this, you must shell out for miner fees too.

NFT Management

Exodus doesn’t come close to Enjin and AlphaWallet in terms of NFT features, yet it’s sufficient for essential transactions. You can use it to store, send, and receive NFTs.

NFT Compatibility

It’s compatible with NFTs that are based on the ETH and SOL blockchains, in contrast to most wallets in the list that are only compatible with ETH NFTs.

Cryptocurrency Management

Exodus supports various cryptocurrencies, which is also the case with all its competitors. BTC, LTC, XRP, TRON, and Chainlink (LINK) are just some of the nearly 200 cryptos that are compatible with it.

Wallet Type

Exodus is known as a crypto wallet, just like the majority of the other alternatives.

App Support

Out of all the NFT wallets, Exodus is the only product that has a desktop version, but no mobile app. The browser extension can be added to Chrome and Brave.

Earning Potential

Like all the other wallets, there’s potential for you to generate income if you use Exodus. You may earn interest when you keep your digital assets in this wallet.

Users

The Exodus website doesn’t state how many users the wallet currently has.

Customer Service

You can send a message to the Exodus team via Facebook, Twitter, or your default email program.

Why we chose it: We recognize Exodus as the best for ease of use among NFT wallets because of its smooth, intuitive UI. It could be an acceptable alternative for you if it’s your first time to use a crypto wallet to handle your NFT portfolio.

Simple to use
Many compatible cryptocurrencies
Portfolio monitoring

No mobile NFT management
Charges by networks & miners
Inconvenient messaging support

Pricing:

App Installation: Free
Operator Fees: Network fees + Miner fees

Trust Wallet: Best for Crypto Flexibility

Free

★★★★★

3.5

Visit

Trust Wallet stands out among NFT wallets because its flexible options let you handle multiple cryptocurrencies and NFTs with a single wallet.

After all, it supports a broad range of cryptocurrencies, which can come in handy if you regularly trade digital currencies. In addition to this, it supports NFTs on the ETH and BSC blockchains. It safely stores your crypto collectibles in the blockchain so that you can conveniently access it.

Smartphone featuring Trust Wallet mobile app displaying NFT collection — *Source: Trust Wallet*

Another important advantage of Trust Wallet is that you’re the only one who holds the key to your account since it’s a decentralized wallet. This means you have full control over your NFTs and cryptocurrency funds.

However, there are some disadvantages of using Trust Wallet. The most glaring one is that it doesn’t allow you to swap NFTs, although it does let you deposit and buy tokens. This could be a deal-breaker if you frequently trade NFTs.

Also, the network fees can be time-consuming to estimate since the amount is calculated per transaction. Finally, you can only rely on ticket submission if you need technical assistance.

To sum things up, Trust Wallet is a crypto wallet that’s generous in cryptocurrency options, but it’s hampered by a lack of NFT trading options.

Trust Wallet Overview

Price

The mobile app of Trust Wallet is downloadable for free from the Apple App Store and Google Play Store, just like all the NFT wallets in the list with mobile versions. In addition to this, you may download the APK free of charge from the Trust Wallet website.

Fees

As with the rest of the NFT wallets in this roundup, you must pay network fees whenever you send cryptocurrency from one address to another address.

NFT Management

Trust Wallet has the least NFT handling capabilities out of all the NFT wallets in the list. It only enables you to deposit and purchase tokens, but not to trade NFTs.

NFT Compatibility

Trust Wallet is compatible with both ETH and BSC NFTs, which provides slightly more options compared to other wallets that only work with ETH-based tokens. It works with ERC721, ERC1155, BEP721, and BEP1155.

Cryptocurrency Management

Trust Wallet is compatible with multiple cryptos, similar to all its competitors. These include BTC, LTC, DOGE, BNB, Ripple (XRP), Dash (DASH), and Polkadot (DOT).

Wallet Type

Trust Wallet is technically classified as a crypto wallet, similar to the majority of the alternatives.

App Support

You can install Trust Wallet in your iOS and Android mobile phones and gadgets. It’s only available as a mobile app, which is the same case with Enjin, AlphaWallet, and ZenGo.

Earning Potential

Trust Wallet allows you to earn income, just like all the other wallets. You could benefit from interest rates up to 11% APR by staking your crypto.

Users

At present, there are approximately 25 million users of Trust Wallet. You can trade cryptos with them, but disappointingly not NFTs. Still, it has the second highest number of users out of all the wallets in this roundup, only next to MetaMask.

Customer Service

The sole support option offered by Trust Wallet is the ticket submission form on the website. It’s a far cry from the solid customer service of ZenGo and Math Wallet, but it’s better than MetaMask because at least you can directly ask a question from the support team.

Why we chose it: We acknowledge Trust Wallet as the best for crypto flexibility among NFT wallets because it’s compatible with a lot of cryptocurrencies and NFTs. This decentralized wallet could work for you if you often toggle between cryptocurrency trading and basic NFT management.

Wide variety of cryptocurrencies supported
Stores ETH & BNB NFTs
Decentralized wallet

No NFT swapping
Perplexing network fee pricing
Ticket submission support only

Pricing:

App Installation: Free
Network Fee: Computed per network transaction

Methodology for the Best NFT Wallet

We considered certain factors as we reviewed the best NFT wallets of 2023. These are some of the aspects that we examined:

Price: We checked if the wallet is free to download and install in your smartphone or computer.

Fees: We researched if you need to pay any network, gas, or trading fees to perform NFT or cryptocurrency transactions.

NFT Management: The most important factor we assessed is NFT management. We gave weight to whether each NFT wallet equips users like you to store, buy, sell, trade, collect, or create tokens.

NFT Compatibility: We researched which types of NFTs the wallet supports. Some examples of compatible NFTs are ETH, BSC, BNB, SOL, or DEGO.

Cryptocurrency Management: We evaluated if the wallet allows you to store and trade cryptocurrency. We also pinpointed which kinds of cryptocurrency blockchains it’s compatible with.

Wallet Type: We explored if the wallet is technically classified as an NFT, crypto, or Web3 wallet.

App Support: We explored if the wallet is available as a mobile app, desktop browser extension, APK, or hardware solution.

Earning Potential: We assessed if the platform gives you the chance to earn interest or profits on NFTs and cryptocurrencies.

Users: We determined how many users are currently using the NFT wallet, in case the numbers are available.

Customer Service: We took a look at what kinds of customer support is offered to wallet users at present.

Take note that we put greater emphasis on NFT management as we built the list of NFT wallets. As a result, our rankings of NFT wallets are based largely on NFT features more than overall functions.

Frequently Asked Questions (FAQs) for Best NFT Wallets

The best NFT wallet makes it simple for you to save or swap tokens and collectibles. Find out the answers to basic questions about NFT wallets, especially if you plan to download and use one.

What Is an NFT Wallet?

An NFT wallet is a digital storage tool where you can keep NFTs. Mostly, these are crypto wallets or Web3 wallets which have the ability to hold NFTs, on top of cryptocurrency coins. Many NFT wallets allow you to perform basic transactions like depositing, selling, and trading tokens or advanced ones like bidding at auctions and minting new NFTs.

What Is an NFT?

NFT stands for non-fungible token. It’s connected to unique digital content which contains proof of ownership. Some examples of NFTs are virtual artwork, collectibles, music, and game items. There are approximately 280,000 NFT buyers and sellers as of August 2021.

How Can I Choose the Right NFT Wallet?

You can select the right NFT wallet by checking if it meets your NFT management needs. For instance, you should evaluate if it allows you to perform the transactions you plan to do, such as buying, selling, swapping, or creating. Aside from this, you must ensure that it’s compatible with the NFT types you’re collecting. Lastly, you should confirm if the app is available to download on your favorite device.

Bottom Line on the Best NFT Wallets of 2023

You need a superior NFT wallet so you can safely store and trade your NFTs and cryptocurrencies. At the end of the day, we recommend all the best NFT wallets of 2023 in our guide. Still, Enjin is our top choice because of its strong set of NFT features that enables you to manage your NFTs in many ways.

July 4, 2022November 23, 2022

What is an NFT? The Ultimate Guide to NFTs

NFTs are taking the digital world by storm and appear to be growing in popularity with each passing day. What’s more, savvy investors are taking advantage and bringing in some serious profits. What is an NFT, and what makes them so special? This ultimate guide answers all your questions and more.

What is an NFT?

NFT stands for non-fungible token, a digital asset created by blockchain technology. Being digital, there’s no way to acquire this token in physical form. Each NFT is unique, with a specific blockchain address.

Because NFTs are non-fungible, they can’t be replaced by the same item if lost, traded, or sold. These non-interchangeable digital items are original creations, similar to an old masterpiece painted by one of the great artists of the time.

Digital tokens share the same realm as cryptocurrency, but each digital coin of the same type is no different from the next. Since NFTs are one of a kind, they introduce scarcity and offer a variety of uses.

How Did NFTs Come to Be?

An unknown person or group using the name Satoshi Nakamoto began minting cryptocurrency using blockchain back in 2008, calling the coins Bitcoin. The digital currency became open source in 2009 and increased drastically in value from there. Today, there are thousands of cryptocurrencies available for purchase.

NFTs came out of a desire for “colored coins.” These coins would be a way to mark items on the blockchain for a specific purpose, such as ownership of a real-world asset. Each coin would have to have a marker or image to make them stand out as unique.

It wasn’t until 2014 that digital artist Kevin McCoy created the first NFT, called Quantum. The token looks like an octagon that pulses through a series of colors. It sold in June 2021 for over $1.47 million.

The launch of the Ethereum blockchain in 2015 made it easier than ever before to create NFTs. New blockchains put their hats into the ring, generating NFTs of their own and adding to the popularity. With the announcement of the metaverse in 2021, many people believe NFTs will be essential for future digital ownership.

How Do NFTs Work?

In a sense, NFTs have many similarities to a physical collector’s item. Individuals can buy, sell, or trade tokens, and each one varies in value depending on its perceived worth.

Most of these tokens reside on Ethereum’s blockchain, which keeps a careful record of each transaction. As an artist creates a new NFT, it is immediately timestamped and forever recorded into the blockchain’s ledger. Anyone can look up an NFT’s authenticity at any time.

What Types of NFTs Are There?

NFTs can appear in many different forms, as the definition of these tokens is still somewhat unclear. Here are some of the most common types of NFTs currently appearing in the blockchain.

Digital Drawings

By far the most common type of NFT, digital drawings offer artists a chance to showcase and sell their designs online. The most expensive NFT sale to date was a piece of digital art called “The Merge,” selling for over $91 million. With asset tracking capability, artists can even attach ownership of real-world creations to NFTs. Thanks to this income potential, a digital drawing is currently the best NFT to buy.

Sports Collectables

Some NFT companies rally around sports figures, capturing amazing stills or incredible moments in sports history. Through NFTs, it could be possible to own an iconic grand slam or hole in one shot from 200 feet away. Organizations are even looking to treat NFTs like unique sports cards that no one else can have.

Memes/Tweets

Memes paint the social media landscape and are now making appearances in NFTs. Subjects of these images can sell them on the blockchain, and some have reached prices in excess of $500,000. Similarly, it’s possible to buy single tweets for laughs or if a particular message has special meaning.

In-Game Items

NFTs can also appear as in-game items to help players set themselves apart. Through the use of these digital tokens, players can pick up a unique outfit or character that only they will own. If a gamer grows tired of a certain item, they can sell the NFT and move on to something new.

Games like Cryptokitties revolve around NFTs. Each character in the game is exclusive and belongs solely to the player purchasing it.

Music

Music is another area rising in popularity with NFTs. Musicians can record snippets onto an NFT and sell it for a profit. This allows fans of a particular genre or artist to own a piece of the space that no one else can listen to.

Who Can Create NFTs?

Anyone with the proper tools can mint a token of their own to sell with the right NFT ideas. You’ll need a digital asset that you’ve created or have sole ownership of to do so. Anything you can’t lay claim to can land you in hot water when you go to sell. This digital asset should be something people will want to buy.

With that asset in mind, you’ll need to decide which blockchain to sell it on. Ethereum is the most popular, but other blockchains are growing in stature.

You’ll need a digital wallet to hold the cryptocurrency to fund your NFT creation. Of course, you’ll also have to buy some cryptocurrency to fill the wallet or connect it with coins you already have.

NFT Marketplaces will take your design and mint it into an actual NFT for sale. These platforms charge in cryptocurrency and vary in pricing and application. Marketplaces can specialize in types of NFTs, such as sports or digital art.

How Much Does It Cost to Mint an NFT?

Minting an NFT can cost almost nothing to upwards of $1,000 to create. There may be fees associated with owning a crypto wallet, and NFT marketplaces will likely charge for using their services. Each wallet and marketplace has different rates, and the speed you choose to have something minted has an effect on cost as well.

Going the slow route, sometimes referred to as “lazy minting,” gives a marketplace permission to create your NFT as it has time. The cost will be low, but you may wait a long time before receiving your token. On the flip side, you’ll pay a pretty crypto coin to have an NFT minted quickly.

How Can I Acquire an NFT?

Purchasing an NFT is as easy as having crypto and knowing where to look. The NFT marketplaces mentioned earlier are the most popular locations for picking up digital assets to start or add to your collection. OpenSea is currently the largest and most successful, with over 80 million tokens to choose from.

Certain websites can help you zero in on a particular type of NFT you’re in the market for. Funko extended its line of products to the NFT space, offering collectors the chance to pick up unique items instead of mass-produced copies. Since everything passes through the blockchain, you can rest assured that all transactions are legitimate and protected.

How Do You Sell or Trade NFTs?

When looking at how to flip NFTs, you need not go any further than an NFT marketplace. With several markets to choose from, it’s imperative to lock down whichever one best fits the NFT you want to sell or trade. You’ll want to spend time researching similar NFTs to determine a reasonable listing price.

Shoppers with similar interests will then come across your NFT on the marketplace and throw out a bid. Depending on your listing, you may receive a trade request for another NFT or an amount based on what the buyer thinks the NFT is worth. It’s up to you as the seller to accept, negotiate, or decline the offer.

Why Should Anyone Invest in an NFT?

Investing in NFTs can serve a few purposes. With any investment, it’s essential to do the research required to make an accurate assessment.

For Collecting

Most people have hobbies that involve collecting physical or digital objects, and NFTs are one more way to scratch that itch. Because NFTs offer a special timestamped one-of-a-kind item, they may appeal even more to collectors who want to stand out.

Making Money

Like any investment, the hope is that an asset will rise in value as time goes on. The very first NFT recently sold for over $1.47 million, and others have been purchased for way more. The right investment can reach incredible heights quickly, giving sellers access to the potential for huge gains.

Being linked to a blockchain also means there’s no risk involved when making a purchase. This isn’t some seedy black market dealing we’re talking about here. NFT transactions leave a very clear history on the blockchain they are associated with, so there’s never any guesswork about a purchase.

Market Predictions for NFTs

Sales and investments in 2021 split the NFT scene wide open, with a huge increase in the number of sales and overall players involved. As the concept becomes more mainstream, more companies recognize the benefits of owning and selling NFTs on the marketplace.

Sales are already catching up with 2021’s numbers, with 2023 looking to see double the amount of money from NFT purchases. Analysts are worried that NFT sales are slowing as 2022 moves on, leading to concerns of a plateau somewhere down the road.

Those looking to NFTs as the next big thing anticipate more new NFT companies than ever before making an appearance, and existing enterprises continuing to follow suit. As these digital tokens are not yet mainstream, only time will tell which direction they go.

Protecting Your NFTs

NFTs can be worth a lot of money, and it’s important to protect these assets. Consider the following to help ensure your investments don’t end up in the wrong hands.

Keep Your Digital Wallet Safe

Digital wallets are great places to store NFTs and cryptocurrency, but it’s unwise to leave that wallet around for anyone to find. In theory, anyone can access a wallet as long as it’s connected to the internet. The best NFT wallets have the means to keep your information safe.

A wallet should come with a seed phrase, similar to a password, that you need to access the contents within. Don’t store your seed anywhere attackers could ever access. Instead, leave it completely offline on a physical piece of paper. No one should ever ask you for this phrase, nor should you ever provide it to anyone.

If in doubt about your ability to keep an online wallet secure, consider using a hardware wallet that’s completely off the grid. Only you with this device can access your account through a sign-in process before you can buy or sell. If you lose your hardware wallet, no one will be able to access your information without your login information.

Watch out for Scammers

Scammers may attempt to create cheap knock-offs of original NFT art with minor modifications, as seen in many real-life scenarios. NFT marketplaces authenticate and verify all details of an NFT, including where they come from.

If you’re selling NFTs, be sure to check offers before agreeing to them. It’s not uncommon for individuals to lay down a bid in U.S. dollars instead of Ethereum in hopes of snagging an NFT for cheap.

Avoid Sketchy Information

If you’re around the NFT marketplace long enough, you’ll start receiving information about “secret deals” that you can’t find anywhere else. It’s best to disable private messages on Twitter or Discord to remove the temptation entirely.

Be wary about clicking on any email regarding NFTs, even if it appears to be from your NFT marketplace. Verify the sender before you open something that could send personal data straight to a hacker.

Pros and Cons of NFTs

NFTs have a lot of potential but also come with a list of concerns. Check out the pros and cons of dealing with non-fungible tokens.

Pros

Ownership: NFTs are unique and afford digital ownership to a single individual. The blockchain it’s listed on keeps careful track of each asset and ensures no one can alter or remove it.
Investment Gains: As an investment, NFTs offer the potential to generate profit through sale and trade. As each NFT is unique, there’s added scarcity and the potential for desire.
Sales Income: For those with the means to do so, NFTs can be a place for artists to maximize profits on songs or artwork. Using NFTs allows artists to remove barriers and sell content with fewer fees.

Cons

Volatility: NFTs aren’t an exact science and are subject to volatility. An NFT worth a certain amount one day can be worthless the next.
Cyberattack: Anything on the internet becomes subject to the realm of hacking. It can be challenging to protect investments from these outside threats.
Rights Access: By purchasing an NFT, you gain access to the original of that object. However, it doesn’t give you the rights to memes or pictures already floating around the web.

Frequently Asked Questions (FAQs) for What is an NFT

With NFTs being so new, there are many unknowns swirling around about them. Below you’ll find answers to some of the most commonly asked questions about these unique tokens.

How Do I Know Which NFT to Buy?

It requires careful research to find the best NFTs to collect or invest in for profit. Before making any purchase, verify the seller and identify signs showing the NFT will likely grow in price over time.

What is an Example of an NFT?

NFTs can range from digital art to in-game items. These tokens can also represent ownership of domain names or tickets to a seat at a specific event.

Is Ethereum an NFT?

No, Ethereum is a blockchain that mints NFTs for purchase and sale.

How Can I Get an NFT for Free?

Certain online games feature NFTs available for purchase within. At times, developers will introduce ways to get NFTs for free by following various steps or completing certain quests

What is an NFT? Final Thoughts

NFTs are a lucrative means of offering unique digital content to collectors and investors alike. Since no two are the same, demand can cause massive fluctuations in price for any sought-after item. Because of this one-of-a-kind design, NFTs can also be used to represent ownership of physical assets or intellectual property.

The desire for NFTs only really took off in the second half of 2021, so much is still to be seen about where these tokens go. If they follow the path of certain cryptocurrencies before them, the sky’s the limit of what NFTs are capable of.