Top 5 AI Crypto Coins Consider to Buy in August 2023
By Nilesh Hembade 01 August 2023 10:49 AM
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Introduction:
As the world becomes increasingly digitalized, artificial intelligence (AI) and cryptocurrencies continue to revolutionize various industries. The fusion of AI and cryptocurrencies has given rise to a new breed of digital assets that hold significant potential for investors. I
In August 2023, several AI-based cryptocurrencies stand out as promising investment opportunities. These coins leverage the power of AI technology to enhance efficiency, security, and user experience within the crypto space. In this article, we will explore the top 5 AI crypto coins that investors should consider for potential growth and diversification in August 2023.
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1.Injective
Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more.
Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook.
MarketCap: $645 Million
Market Rank: 62
$INJ: $7.72
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2.Cortex
MarketCap: $30 Million
Market Rank: 474
$CTXC: $0.1594
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3.Singularity NET
SingularityNET is a platform powered by blockchain technology that facilitates the creation, sharing, and monetization of AI services through its global AI marketplace.
The SingularityNET marketplace offers users the ability to explore, test, and purchase a wide range of AI services using the platform’s native utility token called AGIX. This marketplace serves as a platform for AI developers to publish and sell their AI tools while easily tracking their performance.
MarketCap: $270 Million
Market Rank: 112
$AGIX: $0.2202
Buy & Trade Here
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4.Fetch.ai
Founded in 2017 and launched via Initial Exchange Offering (IEO) on Binance in March 2019, Fetch.AI is an artificial intelligence (AI) lab that aims to create an open, permissionless, decentralized machine learning network with a crypto economy.
The primary goal of Fetch.AI is to democratize access to AI technology by providing a permissionless network where anyone can connect and access secure datasets. This is achieved by utilizing autonomous AI to execute tasks that leverage the global network of data maintained by Fetch.AI.
MarketCap: $167 Million
Market Rank: 153
$FET: $0.2041
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5.The Graph
The Graph is an indexing protocol that allows developers to query data from networks such as Ethereum and IPFS. It is widely used in the DeFi (Decentralized Finance) and Web3 ecosystems. The protocol enables the creation and publication of open APIs called subgraphs, which applications can use to retrieve blockchain data using GraphQL.
The Graph offers a hosted service that simplifies the process of building on top of its protocol. This service is already in production and is available for developers to use. It provides an easy starting point for developers who want to leverage The Graph’s capabilities.
MarketCap: $989 Million
Market Rank: 43
$GRT: $0.1085
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FAQ
AI cryptocurrency, also known as artificial intelligence cryptocurrency, refers to digital currencies that leverage artificial intelligence (AI) technologies in their underlying infrastructure or operations. While AI itself is not a type of cryptocurrency, it can be integrated into various aspects of cryptocurrency systems, such as trading algorithms, data analysis, or smart contract execution.
AI-Powered Trading Platforms: There are cryptocurrency trading platforms that employ AI algorithms to analyze market data, predict trends, and execute trades automatically. These platforms leverage machine learning techniques to make informed trading decisions and improve the efficiency of trading operations.
Smart Contract Platforms: Smart contracts are self-executing contracts with predefined terms and conditions. AI can be integrated into smart contract platforms to enhance their capabilities. For instance, AI algorithms can be used to analyze and verify contract terms, automate contract execution, and enable more complex and dynamic contracts.
Predictive Analytics and Market Insights: AI can be employed to analyze vast amounts of data, including social media sentiment, news articles, and market trends, to provide predictive analytics and market insights. This information can be valuable for investors and traders in making informed decisions about cryptocurrency investments.
Fraud Detection and Security: AI algorithms can be used to detect and prevent fraudulent activities within the cryptocurrency space. By analyzing patterns and anomalies in transactions, AI can identify suspicious behavior and flag potential scams or security breaches.
Decentralized AI Networks: Some projects aim to create decentralized AI networks where participants can contribute their computational power and data to train AI models. These networks can incentivize participation using cryptocurrencies and blockchain technology, creating a symbiotic relationship between AI and cryptocurrencies.
To buy AI in cryptocurrency, you would typically need to follow these general steps:
Choose a Cryptocurrency Exchange: Select a reputable cryptocurrency exchange that supports the cryptocurrency you wish to use for the purchase. Some popular exchanges include Binance, Coinbase, Kraken, and Bitstamp.
Create an Account: Sign up for an account on the chosen cryptocurrency exchange. This usually involves providing your email address, creating a password, and completing any required verification processes.
Deposit Funds: Deposit the desired amount of cryptocurrency into your exchange account. If you don’t already own the cryptocurrency you want to use, you may need to purchase it from another exchange or use a fiat-to-crypto gateway available on the exchange.
Select the AI Token: Find out which AI tokens are available for trading on the exchange. Examples of AI-related tokens include SingularityNET (AGI), Fetch.ai (FET), and DeepBrain Chain (DBC). Choose the token that aligns with your investment goals.
Place an Order: Once you have funds in your exchange account and have selected the AI token, you can place an order to buy it. Specify the amount of the token you want to purchase and the price you are willing to pay, either through a market order or a limit order.
Review and Confirm: Before finalizing the purchase, carefully review your order details, including the quantity, price, and any applicable fees. Once you are satisfied, confirm the order.
Securely Store Your AI Tokens: After the purchase, transfer the AI tokens to a secure wallet that supports the specific token. It’s generally recommended to use a hardware wallet or a software wallet with strong security measures to protect your cryptocurrency holdings.
Cold Wallets: On the other hand, a cold wallet is a physical device used for storing cryptocurrencies offline. To obtain a cold wallet, you’ll need to purchase it from the manufacturer’s online store and have it delivered to your home. Cold wallets are generally considered more secure since they keep your private keys offline, reducing the risk of online hacks or theft.
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Conclusion
The top 5 AI crypto coins to consider investing in August 2023 are Injective, Cortex, SingularityNET, Fetch.AI, and The Graph. These coins have shown promise in their respective fields and have the potential to deliver significant returns on investment.
However, it’s important to note that investing in cryptocurrencies carries inherent risks, and thorough research and analysis should be conducted before making any investment decisions. It is advisable to consult with a financial advisor or do your own due diligence before investing in any crypto asset. Additionally, the cryptocurrency market is highly volatile, and prices can fluctuate rapidly, so it is crucial to stay updated with the latest news and developments in the industry.
Consult your financial advisor before making any decisions because Investing in digital assets is extremely risky. Digital asset prices are subject to high market risk and price volatility. No information on this website is intended to be a solicitation or an offer.