Decentralized finance (DeFi) is tipped to be the next big thing in the cryptocurrency and blockchain technology arenas and here we will analyze the best DeFi crypto coins on the market.
Put simply, the phenomenon refers to projects that aim to provide traditional financial services – such as loans, savings accounts, and asset exchanges, but without requiring a third-party intermediary.
In this guide, we research and analyze the best DeFi coins to buy in 2023 so that you can enter the decentralized finance space while it is still in its infancy.
Best DeFi Coins to Buy in 2023
Although the decentralized finance marketplace is now home to hundreds of projects – we found that the overall best DeFi crypto coins are those listed below:
To find out why we believe that the DeFi crypto list above represents the best long term crypto investments in this space – read on.
A Closer Look at the Best DeFi Crypto to Invest in
In order to pick the best DeFi or DEX coins (native tokens of DeFi exchanges) for your investment portfolio – you’ll need to consider metrics surrounding:
- Current market capitalization
- Growth potential
- Past performance
- Objectives and road map targets
- Token cost price
- Exchanges that list the token
When weighing up your options you should also consider the most undervalued cryptos as these often possess the most potential for exponential growth moving forward.
Taking these core factors into the account, below you will find our analysis of the top Defi coins for 2023.
Wall Street Memes – Best DeFi Coin with Support Of Over A Million Followers, Raised Over $25 Million
After its successful Ethereum NFT collection, Wall St Bulls entered the meme coin market in May 2023 and launched Wall Street Memes (WSM). It has also kept pace with industry trends, including the release of Bitcoin Ordinals NFTs.
The project leverages a robust social media community with over one million followers across multiple platforms.
Thus far, the $WSM presale has been impressive. More than $25 million has been raised, and the presale will conclude on September 25. Following this, an IEO (Initial Exchange Offering) on leading platforms is plausible.
Per the Wall Street Memes whitepaper, with a capped supply of 2 billion tokens, $WSM ensures community-centric distribution. Specifically, 50% of these tokens are for the presale, 30% for community rewards, and 20% for liquidity.
No tokens are allocated for the team, reinforcing the project’s community-driven approach.
Furthermore, WSM staking offers an estimated annual percentage yield (APY) of over 50%, making it one of the best DeFi coins on the market.
The current rewards are set at 75 WSM tokens for each block processed. The total amount staked in the network is over 354 million WSM tokens, showing high investor trust.
Moreover, high-profile interactions like those from Elon Musk highlight the project’s broad influence and set the stage for potential listings on major exchanges like Binance.
In addition to DeFi opportunities, $WSM offers a $50,000 airdrop. Community members can share these rewards by following its social media channels and joining Discord.
You can enter the Wall Street Memes Telegram group for the latest updates.
Tokens available in presale
Bitcoin BSC – An Eco-Friendly DeFi Staking Token on Binance Smart Chain That Raised $3.5 Million In Two Weeks
Bitcoin BSC (BTCBSC) is an emerging eco-friendly DeFi token that offers exciting staking rewards every 10 minutes. In over two weeks of its launch, BTCBSC has already raised nearly $3.5 million with over 1.7 million tokens committed for staking, showing strong investor trust.
The platform distinguishes itself through its eco-friendly Proof-of-Stake (PoS) model, departing from Bitcoin’s more energy-intensive Proof-of-Work (PoW) mechanism.
Not only does this offer a greener alternative, but it also allows for rapid staking rewards every 10 minutes. The APY currently exceeds 150% at the time of writing, making it a high-reward option, especially for early adopters.
According to the Bitcoin BSC whitepaper, BTCBSC maintains a 21-million token supply cap, staying true to Bitcoin’s original design. During its presale, 6.125 million tokens are available.
Of these, the project is about to reach its 4 million soft cap goal. An additional 2.125 tokens will be available in the final phase of the presale.
The project has set aside 14.455 million tokens for long-term staking rewards, gradually to be released over 120 years. This strategy not only promises sustained rewards but also adds an element of longevity to the project.
Functioning on the Binance Smart Chain, BTCBSC provides the added benefit of faster, more cost-efficient transactions than other major cryptos like Bitcoin or Ethereum.
Potential and current investors can join the Bitcoin BSC Telegram channel for the most recent updates.
Tokens available in presale
BNB Smart Chain
USDT, ETH, BNB, Credit Card
Scorpion Casino – DeFi Coin that Earns Daily Passive Income up to $10,000
Another interesting DeFi coin to buy now is SCORP – the native cryptocurrency of Scorpion Casino. Although Scorpion Casino is not a DeFi platform, the platform offers the opportunity to earn attractive daily yields worth up to 10,000 USD by holding SCORP – even during the presale.
At the heart of it, SCORP is a one-stop gaming token that serves as the exclusive payment method of the Scorpion Casino ecosystem. The primary purpose of the token is to give you access to more than 30,000 betting opportunities monthly, across 210 casino games and 160 live games.
On Scorpion Casino, you can access all major games like slots, blackjack, roulette, poker, live casino, and more. The platform’s stringent listing process lets you only connect with credible providers such as Evolution, NetEnt, Play N Go, Novomatic, EGT, and AMATIC. As a result, you are unlikely to fall prey to scams on Scorpion Casino.
Another factor that speaks for its credibility is the license from Curacao EGaming licensing entity. Scorpion Casino is a completely regulated platform. Apart from gambling, you can bet on football, tennis, American football, horse racing, basketball, golf, boxing, and MMA events from the platform.
If you need to work hard for at least six months and spend around $2 million as capital to open an online casino traditionally, Scorpion Casino lowers the industry’s financial and technical barriers with SCORP. The token undergoes a burning mechanism, which supports its value in the open market.
Scorpion Casino is now hosting the presale of SCORP, providing the most profitable entry to the project. (The Exclusive Bonus Code Scorpion20 gets you 20% extra tokens. Available for a short period only). The presale token has the potential to get you triple-digit returns upon its exchange listing, since the project is stepping into the multi-billion dollar gambling and sports betting industries with attractive value propositions.
For additional rewards, you can join the Elite Scorpion Members Club, which features VIP service, cashback, and extra SCORP tokens.
|Presale supply||200,000,000 SCORP|
|Payment methods||ETH, USDT, BNB|
Uniswap – Top Decentralized Exchange With Leading DeFi Coin
Next up on our list of the best Defi crypto to watch in 2023 is Uniswap. This project represents the true definition of decentralized finance, insofar that it is home to an innovative exchange platform that allows traders to swap tokens on a peer-to-peer basis. In other words, in buying and selling crypto assets via Uniswap, no centralized party is required.
This is in stark contrast to the industry norm, which is dominated by large centralized crypto exchanges such as Binance, FTX, and Coinbase. All of which sit between buyers and sellers – making huge commissions along the way. In the case of Uniswap, the exchange doesn’t utilize traditional order books to match market participants.
Instead, the platform is home to an automated market maker – or AMM, model. In its most simple form, Uniswap’s AMM will set token prices based on a wide variety of variables – such as volume, demand, and market capitalization. This allows for a smooth and burden-free way of trading cryptocurrencies in a decentralized manner.
In terms of its native Defi coin – UNI, the project is a top 30 digital asset by market capitalization. When the token was first launched on public exchanges in 2020, you would have paid in the region of $7. Year-to-date 2022, UNI has hit highs of over $17. This represents a growth of over 140%. With that said, investors will be looking for a return to the $40+ region that UNI hit in 2021.
Cryptoassets are a highly volatile unregulated investment product.
Decentraland – Invest in the MetaVerse via the MANA Token
Looking for the best MetaVerse coin in 2023? The MetaVerse is expected to become extremely popular in the coming years, with the likes of Facebook even rebranding its NASDAQ-listed company name to Meta Platforms. And as such, if you’re looking to invest in this growing concept early, you can do so by purchasing some MANA tokens – which is the native digital asset of Decentraland.
In its most basic form, Decentraland is a project built on top of the Ethereum blockchain that offers a virtual gaming world that can be accessed by all. One of the most innovative things about Decentraland is that users can buy virtual land and subsequently build digital real estate.
This real estate – alongside a full suite of other in-game items, can then be sold on the open marketplace. This business model has already achieved a proof-of-concept for several reasons. First and foremost, some real estate plots sold via the Decentralized platform have raised in excess of a million dollars.
Second, the MANA token – which is the native currency used for all purchases and sales made via the Decentraland platform, is now a multi-billion dollar project. In terms of performance, MANA was worth a mere $0.025 back in 2018. In mid-2021, the crypto asset hit highs of almost $6. And as such, this represents significant growth of nearly 24,000%. Did you know that Decentraland is one of the best web 3.0 coins to buy moving into 2022?
Cryptoassets are a highly volatile unregulated investment product.
Yearn.finance – Defi Services via Decentralized Lending Agreements
The next project to consider from our list of the best Defi coins for 2023 is Yearn.finance. This project specializes in decentralized financial services – which as of writing, focuses on peer-to-peer style loans. By this, we mean that Yearn.finance forms a bridge between borrowers and lenders without requiring a centralized middleman.
This is made possible through smart contract technology – whereby everyday consumers can use Yearn.finance to borrow capital without needing to go through a credit check process. These loans are funded by investors that wish to earn a yield of their idle cryptocurrency holdings.
And in doing so, investors will earn an attractive rate of return. Yearn.finance also allows investors to provide liquidity for trading pairs, which, again, provides an APY that far outweighs anything offered by traditional banks and financial institutions. In terms of investing in the Yearn.finance project – you can do so by purchasing its Defi coin – YFI.
CoinMarketCap notes that YFI was first launched on public exchanges back in July 2020 at an initial price of $907. Since then, the YFI token has hit highs of over $93,000. This translates into gains of over 10,000%. Another major benefit of this Defi coin is that at just over 36,000 tokens – the total supply of this digital asset is extremely limited.
What are Defi Coins?
The basic definition of Defi coins is digital currencies that serve a specific function for a project that offers decentralized financial services. For example, we mentioned in our analysis of the best Defi crypto for 2023 that the likes of Yearn.finance and AAVE each offer a decentralized lending facility that does not require a third-party middleman. Another such DeFi project is MakerDAO.
In order for these platforms to function without a centralized intermediary, transaction fees are paid for in the respective Defi coin – the YFI and Aave token. Similarly, Uniswap and SushiSwap both offer decentralized trading services, whereby buyers and sellers can exchange tokens on a peer-to-peer basis. Once again, the respective Defi coin of these projects fuels the platform.
As of early 2022, CoinMarketCap notes that there are now over 500 Defi coins active in this marketplace, including 1inch tokens. On the one hand, this can make it a challenge to know which Defi coin to buy. With that said, if you’re looking to gain exposure to the broader decentralized finance industry – you could consider diversifying across dozens of different projects.
Another new DeFi coin worth mentioning is SafeMoon. Its market cap has already reached $312,507,033.02 according to CoinMarketCap.com. For more details you can also read our SafeMoon Price Prediction page now.
Are Defi Coins a Good Investment?
Defi coins could be a good investment for your portfolio if you’re looking to inject some capital into a niche marketplace that is growing at an exponential pace.
However, Defi coins – like all crypto assets, are extremely volatile and oftentimes – highly speculative. And as such, we would suggest doing some research prior to investing in the best Defi projects for your portfolio.
To start, you might consider some of the key points outlined below:
Growth of the Defi Coin Investment Scene
Before we get to core fundamental research data, we should start by exploring just how quickly the broader Defi coin investment scene has grown.
- Many of the Defi coins that we have discussed today were launched as recently as 2020 – which shows just how new this marketplace is.
- However, according to CoinMarketCap as of writing, the total valuation of all the 500+ Defi coins active in this space now exceeds $137 billion.
- At first glance, this might sound like a significant amount of capital.
- However, when you consider that as of writing the entire cryptocurrency arena carries a market capitalization of nearly $2 trillion, Defi coins still represent a relatively small segment of the broader sector.
Taking this into account, it could be argued that the Defi coin scene is still massively undervalued.
And, should you wish to diversify across multiple Defi coin projects, you can do so with ease at SEC-regulated broker eToro – not least because you only need to meet a $10 minimum on each trade that you place.
Some of the Best-Performing Crypto Assets are Defi Coins
If you’re looking to invest in the best Defi coins in the market because you are looking to target above-average gains – you will be pleased to know that this niche segment of the cryptocurrency scene has generated some phenomenal returns in recent years.
- Let’s suppose that you had invested $5,000 into Yearn.finance when the digital asset was first launched in July 2020.
- In doing so, you would have paid approximately $907 per token.
- Had you held onto your Yearn.finance investment until mid-2021 – you would have been able to cash out at over $93,000 per token.
- And, in doing so, your original investment of $5,000 would have been worth over $500,000.
In another example:
- Let’s say that you were aware of the MetaVerse phenomenon back in 2018 and so you decided to invest $5,000 into Decentraland
- In doing so, you would have paid just $0.025 per token.
- And, if you held on until mid-2021 when Decentraland hit nearly $6 per token – that’s an increase of almost 24,000%
- Therefore, your original investment of $5,000 would have been worth over $1.2 million
Of course, not all Defi coins have witnessed such significant price increases. As such, there is no guarantee that your chosen Defi coins will perform in the way as the likes of Yearn.finance or Decentraland.
This is why it’s so important to conduct your own research prior to investing and diversifying across several Defi projects.
The Fundamentals of Defi
Now that we have covered the technical performance of the Defi coin industry, we can now take a look at the fundamentals. After all, if you are looking to invest in the broader Defi industry, it’s a good idea to understand why this marketplace appears to be so attractive for early adopters.
So, in a nutshell, the main concept of Defi is to take traditional financial services away from centralized operators – such as banks. That is to say, in the near future, we could see everyday consumers obtaining loans from Defi platforms – which are subsequently funded by investors.
This peer-to-peer model can be extended to a whole range of financial services – such as brokerage transactions, insurance, and more. And, if decentralized finance does reach its full potential, then the best Defi crypto discussed on this page only stand to benefit in the long run.
Plenty of Low-Cap Entry Points
Another great benefit of investing in decentralized finance is that many of the best Defi coins in the market carry a small valuation.
This means that the upside potential on offer is going to be a lot more attractive when compared to projects that already have a large market capitalization.
For example, according to CoinMarketCap, of the 500+ Defi coins listed on the platform – less than 20. have a market capitalization of over $1 billion.
Defi Crypto Price
The market price of Defi crypto coins functions the very same way as any other digital asset. That is to say, market prices are determined by demand and supply.
For instance, when Decentraland went from a price of $0.025 to nearly $6 in the space of just four years, this is because buying pressure significantly outweighed sell orders.
If you’re wondering how to keep tabs on Defi crypto prices, then you might consider using the data aggregation platform CoinMarketCap.
Alternatively, if you end up buying Defi coins through a user-friendly platform like eToro, you can simply head over to your portfolio to assess how your investments are performing in real-time.
Where to Buy Defi Coins
In terms of where to buy Defi crypto coins, this will ultimately depend on your chosen token.
For example, if you are looking to invest in upcoming Defi coins that carry a small market capitalization, then you might be required to invest via a decentralized exchange.
However, if you’re interested in leading Defi coins with a large valuation – such as Bitcoin Cash, Uniswap, AAVE, or SushiSwap – then you should have plenty of options at centralized platforms – which are more suited for newbies.
As per our market research, we found that eToro is the overall best place to buy Defi coins – and here’s why:
eToro – Overall Best Place to Defi Coins in 2023
eToro was founded in 2007 and is now used by 20 million traders of all skill sets. The platform is regulated by the SEC and registered with FINRA. Additional regulation comes from bodies in the UK, Australia, and Cyprus. As such, you can invest in the best Defi crypto of your choosing in a secure manner. In terms of supported Defi coins, most of the projects discussed today are available to buy at eToro.
This includes everything from Ethereum Classic, Litecoin, Zcash, and AAVE to Tron, SushiSwap, and The Graph. Regardless of which Defi coins you decide to buy, eToro only charges the spread – which is the gap between bid/ask prices. Moreover, you can deposit US dollars into your eToro via a debit or credit card, e-wallet, or bank wire without paying any fees. The minimum deposit and Defi coin investment stands at just $10.
Another option you have at eToro should you be unable to pick the best Defi crypto coins for your portfolio is to invest in a CryptoPortfolio. In a nutshell, this offers a pre-made, diversified basket of digital currencies that are weighted based on market performance, valuation, and other core variables. Most importantly, CryptoPortfolios are managed by the eToro team, so you can invest in the broader Defi space in a passive way.
Another passive investment tool available at eToro is the Copy Trading feature. Instead of investing money into a pre-made portfolio, this tool will see you inject capital into a successful trader that uses the eToro platform. We also like eToro for its access to other asset classes – which includes thousands of stocks and ETFs that can be traded commission-free. eToro can be accessed online or via the iOS/Android crypto app – and verified accounts take just minutes to open.
Cryptoassets are a highly volatile unregulated investment product.
How to Buy Defi Coins
If you’re wondering how to buy Defi coins today – the specific process will depend on which exchange the platform is listed on.
The sections below show users how to buy Wall Street Memes– our recommended best DeFi coin to invest in 2023. To participate in the $WSM presale, you must follow a few simple steps:
Step 1: Get a wallet
Obtain a suitable cryptocurrency wallet, such as MetaMask or TrustWallet. These wallets can be downloaded and installed by visiting their official websites.
Step 2: Connecting the Wallet
Connect your wallet by creating a new account, visiting the Wall Street Memes presale page, and clicking the “Connect Wallet” button. Once connected, you will have the ability to choose between MetaMask or TrustWallet.
Step 3: Funding the Wallet
Ensure that your wallet has sufficient balance before completing your purchase. On the presale page, multiple funding options will be available for you to select from, such as ETH, BNB or USDT. You can buy ETH/USDT/BNB from other cryptocurrency exchanges and transfer them to your wallet.
Step 4: Confirmation
Once your wallet is funded, select “Buy WSM with ETH/BNB/USDT” and enter the number of tokens you wish to acquire in exchange for ETH/USDT/BNB.
Step 5: Claim $WSM
Finally, after reviewing the gas fees, authorize the transaction. Following the conclusion of the presale, you will be able to claim your tokens from the platform’s official claim page.
How to Buy Defi Coins on eToro
If you’re also interested in buying a selection of other popular Defi coins – SEC-regulated broker eToro allows you to invest in cryptocurrency in less than five minutes. In using this broker, you’ll need just $10 to invest in the best Defi crypto coins.
Step 1: Open eToro Crypto Account
First, visit the eToro website and open an account. You will need to enter some personal information – such as your:
- Date of Birth
- Residential Address
- Cell Phone Number
Next, upload a copy of your passport or driver’s license to instantly verify your eToro account.
Step 2: Deposit Funds From $10
To buy the best Defi crypto coins at eToro, deposit a minimum of $10.
Some of the payment methods supported by eToro include:
- Debit Cards
- Credit Cards
- Domestic Bank Wire
Best of all, eToro charges no transaction fees of USD deposits – or withdrawals.
Step 3: Search for Defi Coin
Next, you can use the search box at the top of the page to find your chosen Defi coin.
In our example above, we are looking to buy Decentraland.
Step 4: Buy Defi Coin
To finalize your Defi coin investment, you need to enter your total stake in the ‘Amount’ box. To recap, this can be any amount of $10.
Once you click on the ‘Open Trade’ button, eToro will execute your order.
Best Defi Crypto Wallet
You will need to obtain a top-rated Defi coin wallet after you complete your investment – which will ensure that your tokens remain safe at all times.
If, however, you decided to buy Lucky Block and you followed our tutorial, then you will already have a safe storage facility in the form of Trust Wallet.
Moreover, if you bought Defi coins from SEC-regulated broker eToro – the provider offers a secure crypto wallet called the eToro Money Crypto Wallet. This means that there is no requirement to download a third-party wallet to keep your Defi coins safe.
In summary, a number of Defi coins have performed extremely well in recent years – with the likes of Decentraland, Yearn.finance, and Cosmos all generating gains in the thousands of percentage points since launching.
However, for us, Wall Street Memes ranks as the best new DeFi project and coin to invest in. This community-focused meme crypto offers staking rewards of over 50%. Users can buy $WSM tokens for only $0.0337 while it’s still in the presale stage.
Frequently Asked Questions on Defi Coins
What is Defi crypto?
What are the best Defi crypto coins to buy now?
What are the top 10 Defi coins?
How do I buy Defi coins?
Should I buy Defi coins?
- Coinbase Bankruptcy Risk – Time to Use DeFi Swap, Buy DeFi Coin
- Best Stocks to Watch on Reddit – Most Popular Reddit Stocks