The shift towards sustainable finance is an unstoppable trend. Investing in green cryptocurrencies can help the environment, while also providing investors with access to potentially lucrative returns. With that in mind, here are the 10 greenest cryptocurrencies to consider investing in 2023.
1) Ethereum (ETH)
Ethereum is a decentralized platform that runs smart contracts and enables developers to build applications on its blockchain protocol. This makes it possible for organizations and individuals to create projects with built-in sustainability features like carbon offsetting and renewable energy investments. The price of ETH has seen a remarkable increase since 2017, showing its potential as an investment opportunity in years ahead.
2) EOS (EOS)
EOS is another cryptocurrency designed specifically for the development of decentralized applications. It is also a greener option because it uses Delegated Proof of Stake (DPoS) consensus algorithm, which requires much less energy than the energy-intensive Proof of Work algorithm used by Bitcoin and Ethereum.
3) Cardano (ADA)
Cardano is a cryptocurrency platform that supports smart contracts, Dapps and sidechains, similar to Ethereum. It has been praised for its green credentials due to its use of a proof-of-stake consensus mechanism, which consumes far less energy than the traditional proof-of-work system.
4) Ripple (XRP)
Ripple is a cryptocurrency designed specifically for banks and financial institutions as a real-time settlement system that enables cross border payments. Ripple is a greener solution than other cryptocurrencies, as it does not use energy-hungry proof of work algorithms.
5) Bitcoin Cash (BCH)
Bitcoin Cash is a fork of the original Bitcoin cryptocurrency that allows for faster transactions at lower fees. Unlike its predecessor, BCH uses a modified form of Proof of Work consensus algorithm that consumes much less power and creates fewer carbon emissions.
6) Stellar (XLM)
Stellar has been lauded as one of the most eco-friendly digital currencies because it operates on an energy-efficient Federated Byzantine Agreement (FBA) consensus algorithm, which significantly reduces energy consumption in comparison to traditional PoW and PoS mechanisms.
7) NEO (NEO)
NEO is a blockchain platform designed for the development of decentralized applications, check angelos.art/ for more info. It is less energy-intensive than its peers because it uses a consensus mechanism called delegated Byzantine Fault Tolerance (dBFT).
8) Dash (DASH)
Dash is another cryptocurrency with an impressive green record. It operates on the X11 PoW algorithm, which consumes much less power in comparison to Bitcoin’s SHA256.
9) Monero (XMR)
Monero has gained traction in recent years due to its privacy features, but it also happens to be one of the greenest cryptocurrencies available today. It uses an innovative proof-of-work algorithm called CryptoNight that only requires around 10% of the energy used by Bitcoin.
10) Litecoin (LTC)
Litecoin is a fork of Bitcoin that uses the Scrypt proof-of-work algorithm, which is more energy efficient than BTC’s original SHA256. It also has faster transaction times and lower fees, making it an attractive option for green investors.
Investing in these 10 greenest cryptocurrencies in 2023 can provide investors with access to potentially lucrative returns while still helping the environment. As sustainability continues to become an increasingly important factor for global markets, these digital assets will likely see increased demand and value appreciation in the years ahead. So if you’re looking for greener investment opportunities, consider putting some money into these 10 cryptos!