Utility tokens are a type of cryptocurrency or digital tokens that are designed to provide access to a specific product or service within a blockchain-based ecosystem. Unlike security tokens, which represent ownership in an underlying asset or company, utility tokens are primarily used to access and use a particular application, platform, or network. This is a key detail that makes these tokens attractive to investors as a long-term hold.
Furthermore, utility tokens are different from tokens bought mainly for investment, like many meme coins, which don't have practical uses or applications.
In this piece, we'll explore the best utility tokens you might consider investing in for 2023. Read on to discover which of these practical-use cryptocurrencies are currently most highly desired.
Let’s find the best crypto with the best Utility
When evaluating the best cryptos with practical uses to invest in, their real-world applications are key. However, other factors such as potential growth of the utility token and its present market value, are critical considerations. In addition, it is also important to evaluate whether a utility token has a distinct quality or feature that differentiates it in a competitive market.
Continue reading to discover our picks for the top 10 utility tokens worth considering for purchase today.
1. Wealth Exchange (WLTHX)
WLTHX is not just another cryptocurrency, but a powerful tool engineered for financial enhancement. WLTHX token holders enjoy cashback rewards and gain priority access to airdrops and tokens from other WLTHX projects at discounted rates - opening doors to unparalleled benefits.
The design of WLTHX is meticulously crafted, ensuring the token price is always supported and never falls below a designated value. This is fortified by a stablecoin reserve, a financial bastion constantly replenished from profits of their cutting-edge exchange and flourishing tokenization projects.
In the realm of WLTHX, every token holder is endowed with not just digital assets, but a fortified financial shield, ensuring token investments are not just secure but are primed for growth. In our view, WLTHX is an innovative digital asset that provides a wide range of benefits to its holders.
Hard Cap: $ 9.45M
Total Tokens: 3.0 Billion
Tokens available in presale: 1.5 Billion
Token type: BEP-20
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix (BTCMTX) is one of the leading utility tokens to consider. It’s a cryptocurrency that merges token staking and cloud mining. The main feature of Bitcoin Minetrix is that it turns cloud mining into tokens, which makes it safer and more affordable to get involved in this area.
The main advantage of turning cloud mining into tokens is that it gives investors more control and clarity over this process. With Bitcoin Minetrix, people can get cloud mining credits by staking $BTCMTX, the platform’s own cryptocurrency.
Hard Cap: $32 Million
Total Tokens: 4 Billion
Tokens available in presale: 2.8 Billion
Token type: ERC-20
3. Launchpad XYZ (LPX)
Launchpad XYZ is creating a comprehensive ecosystem that allows users to tap into the growth of Web3. It’s specifically designed for casual investors who may not have a lot of knowledge or resources. For instance, Launchpad XYZ lets users purchase small portions of assets like real estate and supercars at a low cost, as these assets are tokenized.
Additionally, Launchpad XYZ is developing a decentralized exchange and wallet that will support various cryptocurrencies across different blockchains, as well as NFTs and fractionalized assets.
While many features are open to all users of Launchpad XYZ, some are exclusive to premium members. To become a premium member, investors simply need to stake the project’s native utility token, LPX, which is on our list of the best tokens for the crypto winter.
Hard Cap: $12.5 million
Total Tokens: 1 billion
Tokens available in presale: 250 million
Token type: ERC-20
4. Ethereum (ETH)
Ethereum, being the world’s second-largest cryptocurrency by market value, is naturally on this list. Importantly, the Ethereum blockchain is used by thousands of projects and decentralized apps (dApps). To carry out transactions, ERC-20 projects need to pay GAS fees in ETH, making Ethereum one of the top utility coins to buy.
For instance, Uniswap, a decentralized exchange built on the Ethereum network, processed over $500 million worth of ERC-20 transactions in just the last 24 hours according to CoinMarketCap. Each of these transactions requires GAS fees and therefore ETH.
Total Tokens: 120.25M
Token type: ERC-20
5. yPredict (YPRED)
yPredict could be an attractive option for investors who are willing to take on high risk for high returns and are looking for the best utility tokens to purchase. This new project has created a comprehensive ecosystem for predictive models.
yPredict assists traders in navigating the cryptocurrency markets, eliminating the need to spend hours on manual analysis and research. This is because the project offers real-time insights using artificial intelligence and machine learning.
Hard Cap: $6.5 million
Total Tokens: 1 billion
Tokens available in presale: 800 million
Token type: ERC-20
6. eTukTuk (TUK)
As energy prices rise, TukTuk drivers using traditional internal combustion engines (ICEs) are struggling to earn a minimum wage. Additionally, ICEs cause more air pollution than cars. eTukTuk is a new cryptocurrency project that aims to encourage TukTuk drivers to switch to electric vehicles (EVs).
The project plans to establish EV charging stations and develop electric vehicle supply equipment (EVSE) in urban and suburban areas of developing countries. This initiative not only supports TukTuk drivers financially but also contributes to reducing pollution.
Hard Cap: $10.73 million
Total Tokens: 310 Million
Token type: BEP-20
7. BNB (BNB)
BNB is the top utility token to consider if you want to invest in Binance. Binance, the world’s largest crypto exchange, introduced BNB in late 2017, and it’s now the fourth biggest token by market value. Importantly, Binance has developed many uses for BNB, ensuring that the token stays in high demand, including powering the Binance Smart Chain.
This blockchain network hosts nearly 2,000 tokens. Any transactions carried out on the Binance Smart Chain need GAS fees to be paid in BNB. Additionally, most tokens on the Binance Smart Chain are traded against BNB, creating more demand. BNB also gives holders a 25% discount on trading fees. Another positive aspect is that batches of BNB tokens are regularly taken out of circulation.
8. Chimpzee (CHMPZ)
Chimpzee (CHMPZ) is a utility token that cares about the environment. It’s part of the unique Chimpanzee ecosystem, which is a network of different Web3 Platforms and features. These include the Chimp Store (where you can shop to earn), the NFT Marketplace (where you can trade to earn), and the Zero Tolerance Game (where you can play to earn).
They donate a part of their profits (10%) to organizations that protect animals and forests to combat climate change.
This project has already fulfilled several promises. It has given $15,000 to protect elephants and planted over 20,000 trees to safeguard the rainforest. You can use it within the ecosystem for trading, shopping, and donating to good causes.
Hard Cap: $1,856,375
Total Tokens: 100 billion
Tokens available in presale: 45 billion
Token type: ERC-20
9. Arbitrum (ARB)
Arbitrum is also considered one of the top utility tokens to buy. In simple terms, it’s a layer-2 solution for the Ethereum blockchain that addresses the problems of high fees and scalability limitations.
As we mentioned earlier, thousands of ERC-20 tokens use the Ethereum network. While this is beneficial for ETH tokens, the fees are still very high and transactions are capped at just 30 per second.
These inefficiencies are resolved by connecting to the Arbitrum network. According to CoinMarketCap, over 220 ERC-20 projects have already made this transition. This boosts scalability from 30 transactions per second to 40,000, and those connected to Arbitrum also enjoy much lower fees.
10. Chainlink (LINK)
Introduced in late 2017, Chainlink is a top-25 cryptocurrency by market value that focuses on ‘oracles’. These oracles act as a bridge between smart contracts and the real world. In simple terms, Chainlink oracles can pull real-time data from reliable sources, ensuring that smart contracts play a vital role in the Web3 era.
For instance, consider a decentralized gambling site that offers sports betting markets. Once a sports event ends, Chainlink oracles can scan real-time data from trusted sources. This not only allows the decentralized gambling site to confirm the result of the event, but also enables the smart contract to immediately distribute winnings to players.
Conclusion
The above 10 are the most trustworthy and profitable utility tokens to invest in for 2023. Look into their details and pick one from the top three to reap all the benefits. The WLTHX token, in particular, offers a variety of advantages that make it an appealing investment choice for those interested in cryptocurrency. It’s ushering in a revolution that will not only reach the unreached but also create opportunities for all participants.
So, if you’re looking for an investment opportunity, WLTHX is a very profitable option. Visit the official website, read the whitepaper, and invest in WLTHX today!