If your looking for how to invest $5000 dollars into Bitcoin in 2023 you’ve landed in the right place. Crypto is hot right now. No one can deny that and it doesn’t look to be slowing down anytime soon. If this is your first dabble into crypto investing I’m going to tell you what I would do. Please understand this is not financial advice just my own personal opinion. So let’s get right into it.
Also, if you’re still on the hunt for a great crypto exchange, we’ve got 5 of the best to check out right here.
Getting Started
Well this might shock you but I would not buy Bitcoin. Yes that’s right. I would rather look for some good alternative altcoins that will give me much bigger returns. While nothing is guaranteed in crypto I would rather buy some alternative such as Ethereum that could give me a much bigger return in a shorter time frame. I am not saying their is anything wrong with owning some Bitcoin. I’d rather find some coins that could give me a 10-20x return. So what coins would those be? Well lets take a look.
1. Bitcoin Cash
Out of all the major cryptos Bitcoin Cash could be one of the most undervalued. It has a price of around $100 dollars when it was trading for $4000 a coin a few years ago. This is back when Bitcoin was valued at roughly $20,000 and not the $60,000 it currently sits at. I personally purchased $50k worth of this coin with my own money because that’s how undervalued I feel it is. Time will tell if I’m right but I do believe in this one.
2. Ethereum
Since were on the topic of how to invest $5000 into Bitcoin in 2023 lets look at our next alternative. Yes its Ethereum. With a price of around $900 it might look expensive. However this coin has a lot more room to go up with some estimating it could hit $10k per coin in the next couple of years. That might seem optimistic to some, but I think we could see Ether hit $5k a coin this year. So yes I would also add this one to the list.
3. Graph
The last coin I would get would be Graph aka GRT. This is a new comer that sits at around $.30 per coin. It is being referred to as the google of crypto coins. This is because it indexes different blockchains. Since it has a unique value proposition, and their is a need for it I would add it to my portfolio. It has a lot of upside from its current price point as well.
Top 3 Crypto Exchanges In 2023
1. Uphold
Uphold is considered to be one of the safest ways to buy cryptocurrency by many digital asset experts. Since launching in 2014, Uphold has maintained an exemplary reputation for security among its customers. The site is unique in the sheer amount of assets it offers. You can get started on Uphold here.
Pros
- Available in more than 180 different countries
- Transactions sent between Uphold users are completely free
- Huge list of cryptos available
Cons
- Fees are unclear in certain buy and sell spreads
2. Binance US
Binance US is a cryptocurrency exchange for U.S. residents that allows users to buy, sell, and trade supported cryptocurrency. Binance US also offers “staking,” or lending of several cryptocurrencies, paying users interest for lending their crypto assets. They have a wide list of cryptos available and super low trading fees. You can get started on Binance US here.
Pros
- Great looking interface on desktop & mobile
- Beginner friendly
- Low trading fees
Cons
- Fewer crypto-to-crypto currency pairs than global Binance site
3. Crypto.com
If you’re looking for an affordable, all-in-one cryptocurrency platform, Crypto.com might be right for you. The more Cronos (CRO) you’re able to stake, the more benefits you’ll get from this exchange. They also have a huge list of cryptos available. You can get started on Crypto.com here.
Pros
- Wide list of crypto available
- Low trading fees
- Staking available
Cons
- Lack of educational resources
Final Thoughts
If you were looking for how to invest $5000 into Bitcoin in 2023 I hope this helps you out. It might not have been what you would have expected but I personally would look into each one of these. Remember its not financial advice as you should always do you own research.
