Best DeFi Coins to Buy in South Africa 2023 – Pros & Cons

Decentralized finance coins or DeFi coins transfer value during financial transactions. In many cases, native blockchain networks are used to power these coins. They differ quite a bit from traditional financial instruments. Token holders and the community hold the power to decide about the future roadmap and critical features implemented on the network.

Token holders and the community can decide what’s on the roadmap for the future and what’s going to be. This guide will help you choose the best DeFi coins to buy in 2023 in South Africa to participate in the decentralized industry while it is still in its infancy.

Best DeFi Coins to Buy in South Africa 2023

Even though the decentralized finance market is now home to hundreds of projects, we found the following best Defi coins:

1. Wall Street Memes – The Best DeFi Coin with Popular Meme Culture Theme
2. Bitcoin BSC – a DeFi token with growth potential in 2023
3. Sonik Coin – Exciting new meme DeFi coin to invest in 2023
4. Launchpad XYZ – Unique web3 DeFi coin with utility
5. yPredict – AI Crypto Analytics Platform with Strong Utility
6. Chimpzee – DeFi coin for a greener and more livable planet
7. XRP20 – The new and environmentally conscious XRP DeFi project
8. Uniswap – An Exchange With One Of The Most Popular DeFi Coins in The UK
9. Decentraland – Invest in the MetaVerse With The MANA Token

The Defi crypto-list above represents the best long-term investments in crypto in this space – read on to find out why.

A Closer Look at the Best DeFi Coins to Invest in South Africa

When choosing Defi coins for your investment portfolio – you should consider the following:

• Capitalization of the market at present
• Potential for growth
• Performance in the past
• Road map targets and objectives
• Prices for tokens
• The exchanges that list the token

Consider also the undervalued cryptos, as they often have the potential for the most exponential growth.

Following are our top Defi coins for 2023, which are ranked by taking these core factors into account.

1. Wall Street Memes ($WSM) – The Best DeFi Coin with A Popular Meme Culture Theme

Wall Street Memes and its native token, $WSM, are currently available for purchase through its presale at an appealingly low price. Early investors are poised to benefit from potential returns, as the token’s value is set to increase with each stage. Therefore, now could be an ideal time to make your investment. To invest in $WSM, all you need to do is connect your crypto wallet to the presale website and exchange ETH for $WSM tokens.

Wall Street Memes represents the epitome of web2 meme culture, and the $WSM token serves as an extension of this market trolling spirit. The token’s creators aim to drive its value to new heights through a combination of hype, community involvement, and the fear of missing out.

$WSM is an ERC20 token with no intrinsic utility other than its potential to appreciate in value over time. With a total token supply of 2 billion, 50% is available for purchase during the presale, 30% is allocated for exchange listings, 10% will be used for airdrops, and the remaining 10% is dedicated to project development.

Wall Street Memes has successfully cultivated a robust and active community across various social media channels, including Telegram and Discord. These platforms enable community members to share memes, connect with like-minded individuals, and increase their chances of receiving free crypto through airdrop events.

Your money is at risk.

2. Bitcoin BSC – a DeFi token with growth potential in 2023

Inspired by Bitcoin, which remains in the history of the crypto universe as the first cryptocurrency to mark the beginning of a new economy outside the traditional financial system, Bitcoin BSC is a new token that aims to grow the crypto market. It aims to give those who missed the opportunity to invest in Bitcoin the chance to invest in a better alternative cryptocurrency in 2023 at the historic price of 2011.

As a BEP-20 green token and developed on the Smart Chain, Bitcoin BSC is a great choice for those who want to save money on fuel taxes and take advantage of much faster and cheaper transactions than on Ethereum. In addition, by implementing the stake-to-earn staking mechanism, holders will be able to earn long-term rewards.

To give everyone the opportunity to purchase BTCBSC at the most affordable price, 29% of the token supply will be available in an equal pre-sale to each investor at $0.99. The amount raised in the pre-sale will be used to cover development costs and marketing activities. If you are interested in Bitcoin BSC and want to earn rewards, you can buy the token now for only $0.99 in the pre-sale.

Your money is at risk.

3. Sonik Coin – Exciting new meme DeFi coin to invest in 2023

One of the best DeFi coins to buy right now if you’re looking for short-term gains is Sonik Coin. This is an ERC20 token that is attracting the attention of the crypto community with its unique concept. The developers claim that they created this token after being impressed by the speed of the famous character Sonic.

Advanced speed is also characteristic of $Sonik’s staking system – you have the chance to stake tokens for fairly short periods, starting at least 7 days. This system is significantly different from all others already on the market (with much longer staking periods).

Although the token has no intrinsic value, the interest of the crypto community seems to be quite high – more than $30,000 has already been raised. At the moment the price of one token is $0.000014, and an increase in the price level is anticipated once the presale will be completed (once the amount of $2,098,547 will be collected).

Your capital is at risk.

4. Launchpad XYZ – Unique web3 DeFi coin with utility

One of the best presales to invest in right now is Launchpad XYZ. Investors can purchase the platform’s native token, LPX, at a low price for guaranteed returns over time.

Launchpad XYZ is a web3 platform that will provide easy access to a plethora of web3 applications. Amongst these include DeFi exchanges, NFTs, cryptocurrencies, presages, crypto games, trading tools and a decentralized wallet.

The team behind Launchpad aim to create a platform through which web3 enthusiasts can access all areas of the web3 space easily. This will be achieved through a humanised interface and a variety of different offerings.

Another unique aspect of the platform is the availability of collateralized loans. Users can take out crypto loans and earn money by lending crypto to others. The platform also provides a lucrative staking platform through which crypto holders can earn passive rewards daily.

LPX is the native token of Launchpad XYZ that will provide access to the ecosystem. As well as providing access to the platform, LPX can be used for staking, purchasing and playing crypto games.

Launchpad XYZ is the first platform of its kind that is set to make waves amongst web3 enthusiasts. If you want to profit from the crypto token, we recommend investing via the presale.

Your money is at risk.

5. yPredict (YPRED)- AI Crypto Analytics Platform with Strong Utility

Through yPredict, traders can pick and choose which models to use in their trading and developers can earn income every time that a traders chooses to subscribe. The platform is supported by the YPRED utility token which has a number of use cases including paying for platform subscriptions and staking. The YPRED staking pool offers regular returns to investors and provides liquidity to the project.

It is possible to buy YPRED tokens for a low price through the ongoing presale. After the presale, YPRED will be listed on exchanges and users will be able to start using their tokens to use the yPredict platform. There is a limited supply of 100 million tokens available with 80 million being sold through the presale.

yPredict is the first platform of its kind and is set to make waves amongst AI developers and traders. By investing early, you can benefit from guaranteed returns.

Your money is at risk.

6. Chimpzee – DeFi coin for a greener and more livable planet

Chimpzee is a revolutionary project combining web3 technology and the power of blockchain, promising a more livable future by helping the environment and wildlife. The project helps to protect wild animals and contributes to the planting of trees.

The Chimpzee team uses Web3 technology to make the world a better place. The project supports initiatives that help endangered species and draws attention to the fight against deforestation. The project is also the first Web3 ecosystem offering three ways to earn passive income. And in the meantime, they’re raising money for charitable efforts.

The environmental contribution and the opportunity to earn passive income make Chimpzee an attractive crypto project for eco-friendly traders. Chimpzee has donated to One Tree Planted and has already contributed to planting more than 1,000 trees.

As one of the most promising green projects of Web 3.0, according to experts, CHMPZ will bring multiple profits to early investors by the fourth quarter of 2023.

There are 3 methods of purchasing Chimpzee: through the Chimpzee merch shop, a Trade-2-Earn system, and a Play-to-Earn game called “Zero Tolerance”. The best way to get into the project is by purchasing Chimpzee NFT Passports, which offer multiple benefits and rewards to holders in recognition of their financial support. Thus, Diamond and Gold Series NFT Passports have the highest stake APYs and earning potential.

Your money is at risk.

7. XRP20 – The new and environmentally conscious XRP DeFi project

The XRP20 team wants to resurrect the XRP Army, which relies on a new ERC-20 token. Have you ever thought about how much you could have made if you got in at XRP’s all-time low of $0.0028? With the help of XRP20, you can now do this for a third of the price at the time.

As a deflation coin, XRP20 uses the buy and burn mechanism, which sends 0.1% to a burn address for each sale and purchase. Furthermore, 10% of the total stock was allocated for burning. Through these, the supply will decrease over time, which will lead to an increase in the demand for the token.

XRP was designed mostly for financial institutions, meaning that retail investors could not profit from it during the early stages. Among other things, XRP20 changes this, as Stake-to-Earn makes it possible to bind within the chain. All XRP20 holders have the opportunity to deposit tokens, which allows them to earn passive income.

As part of the pre-sale, retail investors can also benefit from the growth seen when XRP entered the market. In fact, in 2012, when the original XRP went public, retail customers could not buy the coin at all. However, XRP20 is available to everyone, moreover, as part of a pre-sale, at a much more favorable exchange rate. The coin can be bought for $0.000092 before IPO, which is much lower than the original XRP price at IPO. For those who are thinking about buying defi coins, we recommend the coin to their attention.

The tokenomics of XRP20 is similar to the original XRP, however, anyone interested can buy the token, including individuals, at a favorable exchange rate. Owners can then choose to stake their tokens, earning passive income.

XRP20 can be bought on the ETH chain, as it is an ERC-20 token. Purchase requires a cryptocurrency wallet and ETH or USDT. Tokens can be claimed on the presale page after the presale, at the same time as the DEX listing.

The team records its goals in the schedule, the primary of which are correct pre-sales, ensuring a second chance to buy and encouraging the public through marketing activities. The token burning mechanism will be introduced after the DEX listing, and the possibility of token deposits will also become available.

Your money is at risk.

8. Uniswap – Top Decentralized Exchange Using Leading Defi Coin

Uniswap is number two on our list of best Defi coins to watch in 2023. This project represents the true definition of decentralized finance, as it is home to a peer-to-peer marketplace for traders to exchange tokens. In addition, Uniswap does not require a centralized party to buy and sell crypto assets.

Large centralized exchanges such as Binance, FTX, and Coinbase dominate the scene compared to the industry norm. These intermediaries sit between buyers and sellers, making huge commissions. With Uniswap, there are no traditional order books to match market participants.

This platform uses an automated market maker – or AMM – model. Uniswap’s AMM will determine token prices based on market capitalization, volume, and demand in its simplest form. That allows for a smooth and easy way to trade cryptocurrencies decentralized.

67% of retail investor accounts lose money when trading CFDs with this provider. 

9. Decentraland – Invest in the MetaVerse with the MANA Token

Are you looking for the best MetaVerse coin for 2023? MetaVerse is expected to be extremely popular in the coming years, with companies such as Facebook rebranding their NASDAQ-listed company name Meta Platforms. Therefore, if you want to invest in Decentraland early on, you can do so by buying MANA tokens – which are the native digital assets of the platform.

Decentraland is a project built on the Ethereum blockchain, offering a virtual gaming world accessible to all. Decentraland’s most innovative feature is the ability for users to buy virtual land and then build digital real estate on it.

A full range of in-game items, including real estate, can be sold on the open market. Several reasons have led to proof-of-concept being achieved for this business model. Initially, some real estate plots have raised more than a million dollars via the Decentralized platform.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

What are DeFi Coins and are they a Good Investment?

Defi coins are digital currencies designed specifically for decentralized financial services projects. It might be a good idea to invest in DeFii coins if you’re looking to inject some capital into a rapidly growing niche market.

Despite this, DeFi coins are, like all cryptocurrencies, highly volatile and speculative. Therefore, we recommend researching before investing in the best DeFi projects for your portfolio.

Below are a few key points you may want to consider:

Growth of the Defi Coin Investment Scene

To begin with, we should examine how quickly the broader Defi coin investment scene has grown.

• Defi coins discussed today were launched as recently as 2020 or in late 2021, showing how new this market is.
• At the time of writing, Defi coins have a total value of $137 billion, according to CoinMarketCap.
• That might appear to be a considerable sum of money at first glance.
• Considering that nearly $2 trillion is currently invested in cryptocurrency, Defi coins still represent a relatively small percentage.

Considering this, one can say that the Defi coin market is massively undervalued.

Should you wish to invest in multiple Defi coin projects, you can do so with ease at Binance – not least due to the minimum trade requirement.

Defi Coins are among the best-performing crypto assets

When choosing the best Defi coins in the market 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 take investing $5,000 in Yearn.finance in July 2020 when the digital asset is first launched.
• By doing so, you would have paid approximately $907 per token.
• You could have cashed out at over $93,000 per token if you had held on to your Yearn.finance investment until mid-2021.
• As a result, your $5,000 investment would have become worth over $500,000.

Another example:

• Assume that you knew about the MetaVerse phenomenon back in 2018 and decided to invest $5,000 in Decentraland.
• By doing so, you would have paid just $0.025 per token.
• When Decentraland reaches almost $6 per token in mid-2021, that’s an increase of almost 24000%.
• Therefore, your $5,000 investment would have been worth $1.2 million.

There have been significant price increases for not all Defi coins. Therefore, you can’t be sure that your chosen Defi coins will perform the same as Yearn.finance or Decentraland.

Therefore, you need to conduct your research before investing and diversifying across several Defi projects.

The Fundamentals of DeFi

After having covered the technical performance of the Defi coin industry, we can now turn our attention to the fundamentals. If you’re interested in investing in the broader Defi market, it’s a good idea to know why this market seems so appealing to early adopters.

So, in a nutshell, Defi’s main idea is to take traditional financial services away from centralized operators, such as banks. Therefore, shortly, we could see consumers obtain loans from Defi platforms – which investors will then fund.

In addition to brokerage transactions, insurance, and more, this peer-to-peer model can be extended to various financial services. In the future, when decentralized finance reaches its full potential, the best Defi coins discussed on this page will only benefit.

Plenty of Low-Cap Entry Points

The other benefit of investing in decentralized finance is that many of the best Defi coins have a low valuation. As a result, the upside potential on offer will be much higher than projects with a large market capitalization.

According to CoinMarketCap, less than 20 of the 500+ Defi coins listed have over $1 billion market capitalization.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

DeFi Crypto Price

Defi crypto coins function like any other digital asset in terms of the market price. Demand and supply determine the market price.

Due to buying pressure outweighing sell orders, Decentraland went from $0.025 to nearly $6 in four years.

If you’re wondering how you can keep track of Defi crypto prices, you might consider using the data aggregation platform CoinMarketCap.

If you choose to buy Defi coins through a user-friendly platform like OKX, you can review your portfolio to see how your investments perform.

Best Platforms to Buy DeFi Coins – Step by Step Guide

The platform you choose to purchase Defi crypto coins from will ultimately depend on the coin you choose.

When investing in upcoming Defi coins with small market capitalizations, you may need to use a decentralized exchange.

Nevertheless, if you’re interested in major Defi coins with large valuations – such as Uniswap, AAVE, or SushiSwap – you should have many options on centralized exchanges – which are better suited to beginners.

According to our market research, OKX and Binance are the best places to buy Defi coins – here’s why:

OKX- The Best Platform For All Traders

OKX is another excellent platform due to the ease of use of both its website and mobile application. The mobile app allows you to be constantly connected to the market and know everything about the prices of DeFi Coins.

OKX is a novel platform that seeks to make it possible for everyone to trade without any problem in a fast and practical way. However, security is important as the platform cold stores 95% of the users’ digital assets.

There are about 20 users on the platform. OKX is available in more than 100 countries. Opening an account here only takes a matter of seconds. Depending on the experience level, the platform provides different tools to trade the best DeFi currencies.

Your money is at risk.

How to Buy DeFi Coins? – Wall Street Memes Tutorial

You already know which DeFi coins are DeFi and have reviewed the list of DeFi coins you can buy. Therefore, let’s think about how to purchase DeFi coins, specifically Wall Street Memes.

Step 1: Download the Trust Wallet

In order to store and access Wall Street Memes, you will need a crypto wallet. We suggest MetaMask as the preferred choice for desktop users and Trust Wallet for mobile users.

Cryptoassets are a highly volatile unregulated investment product.

Step 2: Connect the wallet

After setting up your wallet, visit the official WSM site and click ‘Connect Wallet.’

Select either MetaMask or Wallet Connect from the options provided.

Step 3: Change crypto and $WSM

Decide how much of your ETH, USDT, or BNB to exchange for $WSM tokens. These cryptos can be bought from an exchange, crypto wallets, or a debit and credit card. Using the presale widget at the official site, exchange crypto for $WSM.

Cryptoassets are a highly volatile unregulated investment product.

Step 4: Purchase

Before confirming the order by clicking ‘Buy Now,’ make sure you check again all transaction details, including possible network fees.

The minimum purchase requirement is 100 tokens.

Step 5: Claim your tokens

Once the presale is completed, go to the platform’s website and claim the tokens. After that, you can find the tokens in your wallet.

How to Buy DeFi Coins on OKX?

If you’re also interested in buying a selection of other popular Defi coins, the broker OKX allows you to complete the process in less than five minutes. Using this broker will need just $20 to invest in the best Defi coins.

Step 1: Open OKX Crypto Account

Visit the OKX website and open an account. Then, please enter some information about yourself, such as:

• Name
• Date of Birth
• Residential Address
• Cell Phone Number
• Email

To instantly verify your OKX account, upload a photo of your passport or driver’s license.

Step 2: Deposit Funds From $20

A deposit of $50 is required to purchase the best Defi coins on OKX.

OKX supports the following methods of payment:

• Debit Cards
• Credit Cards
• Paypal
• Neteller
• ACH
• Domestic Bank Wire
• Trustly

The best part is that OKX does not charge transaction fees for US dollar deposits or withdrawals.

Step 3: Search for Defi Coin

Next, you can use the search box at the top of the page to locate your preferred Defi coin.

We are looking to buy Decentraland in our example above.

 Step 4: Buy Defi Coin

To complete your Defi coin investment, you must enter your total stake in the ‘Amount’ box. That can be any amount up to $20.

OKX will execute your order once you click on the ‘Open Trade’ button.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Best Defi Crypto Wallet

After you finish your investment, you will need a top-rated Defi coin wallet to ensure your tokens’ safety.

However, if you were to purchase WSM and follow our tutorial presented above, you would already have a safe storage facility in a Trust Wallet.

Conclusion

Several Defi coins have done remarkably well – with Sonik, Launchpad XYZ, yPredict, Chimpzee all posting gains in the thousands of percentage points since launching. As a result, WSM is our top pick for the best Defi coin to buy in 2023. 

Cryptoassets are a highly volatile unregulated investment product.

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