Top 10 Artificial Intelligence (AI) Cryptocurrencies
AI cryptocurrencies are on the rise again. Early 2023 brought a breakthrough in the artificial intelligence segment, which resulted in the emergence and rapid popularity of AI cryptocurrencies. The artificial intelligence and cryptocurrency sector slowed down mid-year, but the fourth quarter of 2023 surprised the crypto community once again. What are AI cryptocurrencies, and which are the best ones to invest in right now?
What’s an AI cryptocurrency
AI cryptocurrencies are a type of cryptocurrencies that combine artificial intelligence mechanisms. It is a combination of blockchain technology and AI to create powerful tools.
How does AI and Cryptocurrency Overlap
The interaction between artificial intelligence and cryptocurrencies could transform the financial industry. For example, AI can be used to automate the process of analyzing large amounts of data, such as market trends, news, and sentiment in the crypto market. This optimization will help investors improve their strategies and potentially increase their earnings. In addition, thanks to AI, investors will better understand and assess their risks.
AI can analyze historical price movement data, trading volumes and other relevant factors to create a price prediction model. AI algorithms can also review transactions and identify suspicious behavior to help prevent fraud and improve security.
Speaking of safety, AI is able to automate and make more accurate compliance checks, such as KYC and AML procedures. AI might also improve and empower smart contracts. And these are just a few of the possible directions.
What Is the Best AI Coin To Invest Now
Best for beginners:
- Injective (INJ)
- SingularityNET (AGIX)
- Ocean Protocol (OCEAN)
Best for developers:
The best in technology:
- Oasis Network (ROSE)
- Fetch.ai (FET)
- Akash Network (AKT)
- inSure DeFi (SURE)
- OriginTrail (TRAC)
Injective (INJ)
- Price: $13
- Market cap: $1.151B
Injective Protocol is a Cosmos-based protocol that acts as a decentralized exchange. Unlike its competitors, it does not use the model of automated market makers. Instead, Injective Protocol seeks to combine the efficiency of traditional finance with the transparency of decentralized exchanges by using the classic order book model.
Users pay fees using the native token INJ, which is also needed for management, staking, and more. The protocol uses artificial intelligence to automate trading and provide security, which is why it is so well-designed for beginners.
The Graph (GRT)
- Price: $0,1046
- Market cap: $970M
The Graph (GRT) is a protocol that allows developers to create and query data from various blockchains, including Ethereum, in a more efficient and standardized way. The goal of the protocol is to help developers use relevant data to improve the efficiency of their decentralized applications.
The Graph (GRT) is a decentralized network. The following participants contribute to The Graph (GRT):
- Curators are developers of subgraphs that store analyzed blockchain data. Curators determine which data should be indexed.
- Indexers are the node operators who are responsible for providing indexing services. In order to do so, they must stake GRTs.
- Delegators delegate GRT to indexers to contribute to the network management without setting up a node.
The GRT token is the link in the operation of the protocol. Any user, whether an indexer, curator, or delegator, must stake GRT to perform their functions, and in return receive a reward from the network. A protocol that utilizes AI in its operation makes indexing and querying blockchain data more efficient, saving developers time and money.
Render (RNDR)
- Price: $2,32
- Market cap: $859M
Render Network is powered by blockchain and specializes in animation, motion graphics and other video effects. Render's goal is to create a decentralized network that allows artists and content creators to efficiently use rendering power and resources, and allows people with free computing resources to earn rewards by contributing their computing power to the network. AI ensures the highest quality of work and also optimizes the rendering process.
The RNDR token acts as the native cryptocurrency of the Render network. It is used to pay for rendering services and as an incentive for users who provide their computing resources for rendering.
Oasis Network (ROSE)
- Price: $0,05
- Market cap: $325M
Oasis Network (ROSE) is a blockchain platform focused on data privacy and security. The protocol allows developers to create dApps that can work with confidential data while maintaining privacy. The network is able to compute data without compromising its privacy by utilizing MPC technology. Oasis Network is also able to handle a huge number of transactions.
With the ROSE native token, users gain access to a more secure and private ecosystem. The token is also needed for network management, transaction staking and payment. AI is used to strengthen network security and improve transaction efficiency.
Fetch.ai (FET)
- Price: $0,34
- Market cap: $357M
Fetch.ai (FET) is a blockchain and artificial intelligence (AI) project aimed at creating a decentralized and autonomous ecosystem for various applications, particularly within the Internet of Things (IoT). The platform is designed to allow autonomous AI agents to perform tasks and interact with each other in a decentralized network.
Fetch.ai uses machine learning and artificial intelligence technologies to enable agents to learn from their interactions and make decisions. This includes tasks such as route optimization, resource allocation, etc. Blockchain captures transactions and interactions between agents.
FET is the native cryptocurrency of the Fetch.ai network. It is used for a variety of purposes, including payment for services and transactions within the ecosystem.
Fetch.ai's technology can be used in a wide range of areas including transportation, supply chain, energy, finance, and healthcare. AI is an integral part of the Fetch.ai network and helps ensure that tasks are completed quickly and efficiently, and that data is managed securely.
SingularityNET (AGIX)
- Price: $0.222
- Market cap: $275M
SingularityNET (AGIX) is a blockchain-based platform focused on creating a decentralized marketplace for artificial intelligence (AI) services and AI-related applications. The project aims to facilitate the creation, sharing, and monetization of AI services and algorithms in a collaborative and decentralized manner.
If your goal is to get into the AI industry, SingularityNET can help you get there. SingularityNET's marketplace already offers over 70 useful AI services created by developers from all over the world. The services include multilingual speech translation, real-time voice cloning, speech command recognition, image generation, and much more. The platform has a user-friendly interface, making its services accessible even to beginners.
AGIX is a native SingularityNET utility token that has various use cases. For example, transaction payment, staking, governance. But the main purpose of the token is to pay for the platform's AI services.
Akash Network (AKT)
- Price: $0,99
- Market cap: $218.8M
Akash Network (AKT) is a decentralized cloud computing platform that uses blockchain technology to organize a marketplace for cloud resources. The main goal of the project is to offer a more efficient, secure and cost-effective alternative to traditional cloud infrastructure providers such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform. Akash allocates underutilized cloud capacity, providing more efficient and cost-effective cloud computing services than centralized alternatives.
Akash Network is an entire ecosystem of services and services. It has developed AI services such as Auto-GPT, BabyAGI and TerminalGPT. Auto-GPT can generate text and code. BabyAGI, which is an advanced problem management system, was developed to change the way organizations approach problem-solving. TerminalGPT recognizes and responds to questions and topics in real time.
AKT is the native cryptocurrency of the Akash Network. It is used for a variety of purposes within the ecosystem, including paying for cloud computing resources, participating in network management, and staking for network security.
Ocean Protocol (OCEAN)
- Price: $0,36
- Market cap: $207M
Ocean Protocol (OCEAN) is a blockchain-based platform and network focused on the secure and confidential exchange of AI-related data and services. It aims to facilitate the exchange and monetization of data assets by giving owners control over their data and the ability to share it with others in a secure and privacy-preserving manner.
This protocol is a great start for those new to AI and blockchain. The way the protocol works facilitates data sharing by connecting users who need data or don't have the resources to store it with those who do have the spare funds. By integrating AI into the Ocean Protocol, users can securely find, share and trade data.
OCEAN is the native cryptocurrency of the Ocean Protocol network. It is used for transactions within the ecosystem, including payments for data assets and services.
Ocean Protocol technology is relevant to a variety of industries including healthcare, finance, artificial intelligence, scientific research, and more. It can be used for secure data sharing and monetization for AI research, analysis, and development.
inSure DeFi (SURE)
- Price: $0,004
- Market cap: $133M
inSure DeFi (SURE) is a blockchain-based project focused on insurance solutions for the decentralized finance (DeFi) space. The project aims to provide risk mitigation and insurance coverage for users of DeFi and smart contract platforms. AI is used in various aspects of risk assessment and data analytics in the insurance industry to help effectively protect investors from losses resulting from vulnerabilities, hacks, exploits, and other unforeseen events in the DeFi ecosystem.
SURE is the inSure DeFi platform's native cryptocurrency. It is used for a variety of purposes within the ecosystem, including staking, governance, and as a means of participating in the insurance and risk sharing process.
OriginTrail (TRAC)
- Price: $0,25
- Market cap: $101M
OriginTrail (TRAC) is a blockchain-based project focused on supply chain management and secure tracking of goods and data in supply chains. OriginTrail aims to bring transparency, integrity, and efficiency to supply chain operations through the use of blockchain technology. The ecosystem allows companies, organizations, and even other blockchains to securely and reliably share information in its fully decentralized knowledge graph network. Data protection in the network is ensured through the activities of oracles and artificial intelligence agents.
TRAC is the native cryptocurrency of the OriginTrail network. It is used for a variety of purposes within the ecosystem, including staking, governance, and incentivizing supply chain network participants.
What is the best AI stocks to buy
The popularity of artificial intelligence technologies has not only affected the cryptocurrency sector. The stock market has also seen a surge in some stocks related to artificial intelligence technologies. Many of them have performed well in recent months. Here are some of them:
- Nvidia is the largest maker of graphics chips. Its graphics cards are used to accelerate a wide variety of applications in data centers. Now, AI is one of the driving forces behind the company's growth. The company recently released a new set of inference platforms specifically designed for generative AI.
- IBM is a hardware and software vendor. The company's AI strategy is to use this technology to complement human intelligence, improve efficiency or reduce costs. IBM has several subsidiaries in different lines of business and uses AI to optimize their operations. The company has the largest market share in AI technology since 2020.
- Microsoft is a well-known and largest technology giant. It has been investing in the field of AI since 2019. The company has invested $10 billion in OpenAI after the launch of ChatGPT. The company has also introduced a new version of Bing search engine based on ChatGPT and is looking to implement AI in all its products.
- Amazon is an e-commerce giant that already uses AI in all its products, from Alexa to self-service grocery stores and the company's entire logistics industry.
How to Buy AI Crypto Projects
Most AI cryptocurrencies can be purchased on cryptocurrency exchanges. Decide which AI token you want to buy and on which exchange. We will give you an example of the Binance exchange.
1. Go to the exchange and if your account is empty, make sure you have funded it using an available method (bank card, for example).
Source and Copyright © Binance
2. Go to https://www.binance.com/en/markets/overview and click on the AI icon
Source and Copyright © Binance
3. Select the AI token from the available ones and click on the Trade icon
Source and Copyright © Binance
4. You will be taken to the trading page of the required token. Scroll to the end of the page and in the left window enter the number of tokens you want to buy and click on Buy
Source and Copyright © Binance
5. You have successfully placed an order. Its completion will not take much time and your tokens will soon appear in your wallet.
What is the best AI crypto trading bot
There are many AI bots for cryptocurrency trading available on the market, you need to consider several factors to choose the best one:
- Investor's strategy: different bots are responsible for different strategies. Investors need to decide on the strategy they will follow. For example, day trading, long term holding or arbitrage.
- Security: how a particular platform or bot pays attention to security.
- Supported exchanges: the investor needs to make sure which exchanges work with bots.
- Interface: how user-friendly the bot is. The bot should be easy to control and manage by the user.
- Pricing: Different trading bots have different pricing structure. Some charge an upfront fee, while others take a percentage of profits. Understand the costs involved.
- Support: Look for a bot with an active user community and a good support team. This can be helpful when problems or questions arise.
- Regulatory compliance and transparency: The bot's operation should be transparent and fully compliant with local jurisdiction requirements.
Here are some AI bots that have gained widespread adoption by adhering to the above factors:
- Pionex is a platform that combines several types of trading bots. Grid Trading Bot allows you to trade cryptocurrencies within a given range. DCA bot uses the Martingale model, which is a ladder strategy – buy, sell all at once. Rebalancing Bot is good for long-term storage of multiple coins. ChatGPT integration is possible.
- ArbitrageScanner allows traders to capitalize on price differences on exchanges without having to hold tokens in advance. Supports over 75 exchanges.
- Kryll uses AI to help day traders of crypto. It is useful for beginners as well, as it helps them create scripts without the need for coding knowledge.
- Bitsgap offers cryptocurrency trading bots, algorithmic orders, portfolio management and free demo mode in one place. It helps to implement strategies on multiple exchanges simultaneously.
How Do I Store AI Cryptocurrencies
Storing AI cryptocurrencies, like any other cryptocurrency, requires a safe and responsible approach to ensure the safety of your assets. Many exchanges offer wallets for storing cryptocurrencies. An investor can use hot wallets and cold wallets, depending on personal need. For more regular transactions and storing a small amount of cryptocurrencies, hot wallets are suitable. However, cold wallets will be a more secure method of storage for larger amounts as they are not connected to the internet and are devoid of fraud risks.
Are AI Cryptocurrencies Safe?
The security of AI cryptocurrencies, like any other cryptocurrency, depends on various factors, including the security measures you take and the specific blockchain and technology used in the cryptocurrency project. Things to consider are:
- The level of security of the blockchain
- The reputation of the crypto project
- The security level of the wallet that holds your assets
- The vigilance of the investor
- The audit of the project
- The importance of staying informed about the market.
Frequently Asked Questions (FAQs)
Is AI crypto a good investment
Whether AI cryptocurrencies are a good investment depends on various factors, including your financial goals, risk tolerance, investment strategy, and your understanding of a particular AI cryptocurrency project.
However, many crypto market experts predict AI cryptocurrencies to grow to $1 billion by 2030 due to the rapid adaptation of artificial intelligence.
Which crypto is using AI
Some cryptocurrencies and blockchain projects are actively using or incorporating artificial intelligence (AI) technologies into their platforms or applications. These projects also use native tokens on the blockchain for their operations. SingularityNET, Fetch.ai, and Ocean Protocol are just a few of them.
What is the best AI cryptocurrency
The best AI cryptocurrency will be different for every investor, but at the time of writing, the best cryptocurrency in the AI sector by market capitalization is Injective (INJ). It has a market capitalization of $1.151 billion.
Does AI crypto have a future
The future of AI cryptocurrencies, like any other emerging technology, is subject to many factors and uncertainties. For example, technological advances, regulation, market acceptance and use cases, as well as the competition, community, and team of a particular project.
Bottom Line
Our review of the best AI cryptocurrencies shows how deeply artificial intelligence technologies have been implemented and how they can interact with the blockchain world. Artificial intelligence not only automates the operation of crypto projects, but also provides new and unique investment opportunities.
However, as with any cryptocurrency, investors need to do their own research before purchasing a particular AI token.
