This article is merely informative and isn’t investment advice. Although we have found these cryptocurrencies interesting, we recommend you always inform yourself before investing. While there have been instances of scams within the crypto space resulting in financial losses for some individuals, it’s important to note that with proper research and caution, there are also opportunities for safe and profitable investments in the crypto world.
New Cryptocurrencies in 2023
Keeping a close eye on new cryptocurrencies in 2023 allows us to invest in projects from scratch. This opens up opportunities to increase our earnings. So, let’s look at some recent projects that are creating a buzz in the crypto world.
EcoTerra: Earn Money from Recycling
The first of the selected new cryptocurrencies in 2023 is a blockchain initiative to reward users and promote corporate action on climate change. EcoTerra (ECOTERRA) is an Ethereum ERC-20 token. ECOTERRA’s supply is 2M tokens, and 50% will be distributed in the presale. At the time of writing, the presale price is $0.007, with $2.8M raised.
The Ecoterra ecosystem has some tools that reward companies for reducing their carbon footprint. Customers also get benefits for taking green action against climate change. This platform introduces the Recycle2Earn concept, whereby users earn rewards every time they recycle.
Certik conducted EcoTerra’s audit in February 2023. The results showed strong code security but a high risk of centralization in the tokens’ distribution.
When a system is centralized, there is a risk that a single owner or entity may have the power to make changes to key functions such as modifying parameters, updating contracts, distributing tokens, altering balances, and making withdrawals, among other sensitive functions.
Furthermore, centralization risks are also linked to fraudulent Initial Coin Offerings (ICOs), so it is always essential to ensure that the new cryptocurrencies we will invest in have rigorous security audits and have passed all the necessary tests.
DeeLance: A Transparent Freelance Marketplace
The second new cryptocurrency is DeeLance (DLANCE). This is the native token of a freelancing and recruitment platform built on Ethereum. The website states that their objective is to transform the way freelancers establish connections with prospective clients. They achieve this by integrating blockchain technology and the metaverse to enable users to engage with each other using NFT avatars.
Its main objective is to provide tools and services to bring greater transparency and efficiency to an industry that has grown dramatically in recent years. With this interaction network, content creators and creatives can network to find work, offer services, and establish trustless relationships with their customers through smart contracts.
Likewise, the platform charges only 2% commission to clients and 10% to freelancers, claiming to be one of the lowest in the market.
At the time of writing, DLANCE is in the presale stage with a price of $0.029 and $580,000 raised. One of the features this token offers is the ability to purchase land within the DeeLance metaverse and engage in transactions on its NFT marketplace. Additionally, it will allow freelancers to acquire offices, as well as the payment of advertising to generate a greater reach.
The total token supply is 1 billion divided into seven pools. 30% of the tokens have been allocated for presale, while 10%, 2%, and 16% were allocated for the liquidity fund, rewards, and CEX listing, respectively.
This token was audited in February and March by two different companies. Even though Coinsult and SolidProof have completed the KYC verification process, the audits revealed that the platform still poses centralization risks.For this reason, auditors always recommend doing your own research (DYOR) before investing in this token.
Both EcoTerra and DeeLance have real-world use cases, and each is looking to revolutionize its industry through blockchain technology.
yPredict: Artificial Intelligence for Traders
A third of the new cryptocurrencies of 2023 is made up by yPredict (YPRED). This project addresses one of the hottest trending topics: Artificial Intelligence (AI). Its design and use give us a lot to talk about, making it one of the first of many such tokens expected to emerge in the market within the next few months, following the increasing trend towards AI.
YPRED is a token that powers an AI ecosystem designed for AI/ML experts, financial quants, and traders. This platform aims to create state-of-the-art predictive models and data analytics that give its users an edge in online investing.
At the time of writing, the token’s presale is in its fourth phase and has raised $481,000 at a price of $0.07 per token. The total supply of the token is 100M, which will serve as a means to access the yPredict Marketplace analytics platform, receive incentivized votes on the marketplace, and earn APYs by participating in staking.
However, the risks associated with investing in cryptocurrencies are coupled with the potential errors arising from using AI in this project.
The contract’s audit and KYC to yPredict were conducted by Coinsult in February with no high-security issues in the smart contract that could put users’ funds at risk. However, the auditors found some minor problems, so they recommend potential investors DYOR before investing.
RobotEra: A Factional NFT Game
RobotEra (TARO) is the Ethereum ERC-20 token of a sandbox game. This game presents users withs a metaverse in which players can interact with different communities through NFT technology.
This game allows participants to become robots in the post-apocalyptic world of Taro where they’ll have to manage their land and participate in its construction. The robots are divided into different factions that share the same goal.
Each player will be assigned to a continent based on which of the seven different factions they belong to. This will allow land acquisition and customization of other game elements. As a result, the players can trade customized items with NFT technology in the ecosystem’s marketplace.
The project roadmap is updated quarterly with input from the community because it is designed to implement governance through a Decentralized Autonomous Organization (DAO).
The TARO token is currently in the second presale phase for $0.02 per token, and the project has raised $1.2M. However, this could pose an issue for trading on exchanges due to the fact that the symbol for this altcoin is already being used by Taroverse (TARO), another gaming project also riding the metaverse wave.
The creators of this project can be found on LinkedIn, and the game has been subject to two smart contract audits and KYC. According to the audit carried out by SharkTeam, the project was found to meet all security-related requirements; however, it also poses centralization risks.
__________
Although these altcoins may seem intriguing, they do possess inherent issues that are typical of new projects still in the development phase. It is crucial to conduct your own research (DYOR) before investing in them or any new token, for that matter.
When exploring new cryptocurrencies to invest in for 2023, you must take risks into account. It’s advisable to never invest funds that you are not willing to lose since no investment is entirely secure and the process can be intricate and uncertain. Even if you have taken precautions to avoid scams, it is crucial to be pragmatic about your investment objectives. Cryptocurrencies are subject to several factors that may cause fluctuations, so it is vital to consider this aspect as well.
