Kane PepiThe Asian continent is home to a huge cryptocurrency community, with trading volumes continuing to rise year on year.
In this market insight, we explore the 10 best Asian cryptocurrency projects to consider today.
The 10 Best Asian Cryptocurrency to Invest in 2023
The 10 best Asian cryptocurrency projects that we identified are listed below:
- Tamadoge – Japanese-Style Tamagochi P2E Game With NFTs and Crypto Rewards
- Battle Infinity – New Metaverse and Fantasy Sports Cryptocurrency Project Originating in Asia
- Lucky Block – Innovative NFT Competition Platform to Keep an Eye on
- NEO – Smart Contract Blockchain With High-Performance Levels
- BNB – Binance Exchange’s Proprietary Cryptocurrency
- OKB – Native Digital Token of the OKEX Exchange
- Bitcoin – De-Facto Cryptocurrency of Choice That Trades at a Premium in Asia
- Huobi Token – Cryptocurrency Backing the Huobi Ecosystem
- Shiba Inu – One of the Most Popular Meme Coins in Asia
- Tether – Biggest Cryptocurrency in Asia After Bitcoin
While some of the projects we have identified originated in Asia, others are included on our list because they have a particularly huge following on the continent.
Read on to find our full analysis of the list of Asian cryptocurrency projects found above.
A Closer Look at the Best Asian Crypto Projects
In curating our list of the best Asian crypto projects in the market – we considered a wider variety of core factors.
For instance, the overarching business model and objectives of the project, what solutions it solves, and whether the respective cryptocurrency has attractive upside potential.
Below, we take a much closer look at the best Asian crypto projects for 2023.
1. Tamadoge – Japanese-Style Tamagochi P2E Game With NFTs and Crypto Rewards
Tamadoge is one of the best future cryptocurrency projects that should be considered and is currently offering its native cryptocurrency token, TAMA, via a presale campaign. This project is building a play-to-earn gaming suite that focuses on a Tamagochi-style ecosystem.
However, unlike the classic 90s game, Tamadoge takes things to the next level by incorporating emerging technologies like blockchain, cryptocurrency, NFTs, and even the metaverse. In a nutshell, upon joining the Tamadoge game, users will be able to mint a unique NFT, which is represented by a virtual pet.
The Tamadoge pet will possess a variety of traits, each of which will have a rarity score. The rarer each pet is, the more valuable it will be within the Tamadoge ecosystem. Players will be able to enter battles with their Tamadoge pets on a P2P (player-to-player) basis. The idea here is that by winning a battle, players will be rewarded with TAMA tokens.
Players are incentivized to take care of their Tamadoge pet, just like in the traditional Tamagochi game. And, the better cared for that each pet is, the more chance it will have of winning battles and thus – rewards. After reading the Tamadoge roadmap, we were pleased to see that the team of developers is looking to offer immersive experiences.
As the game progresses, users will be able to view and engage with their Tamadoge pets via augmented reality. This will create an artificial experience in the real world, alongside the user’s pet NFT. Moreover, there will also be a Tamadoge app for both iOS and Android, which will subsequently enable players to care for their virtual pet on the move.
Tamadoge is one of the fastest growing cryptos in the space, already garnering huge attention and hype on social media, and raced past its beta sale allocation earlier this week.
Moreover, as Tamadoge is built on top of the Ethereum blockchain, the plan is to become one of the best coins on Uniswap. We explain how to buy Tamadoge later in this guide, but the presale details are as follows – the investor simply needs to connect their Ethereum wallet to the dashboard on the website and swap at least $10 worth of ETH or USDT for TAMA.
2. Battle Infinity – New Metaverse and Fantasy Sports Cryptocurrency Project Originating in Asia
Battle Infinity is one of the best Asian cryptocurrency projects to keep an eye on this year. The project – which is based in India – sold out its presale campaign in just 24 days, raising 16,500 BNB or around $5 million at the time of writing.
The next step for the exciting gaming platform is a listing for its native token IBAT on decentralized exchange PancakeSwap, which will take place on August 17. IBAT is among our best emerging cryptocurrencies due to its massive ecosystem and metaverse world being built by the developers.
The ecosystem will feature many multiplayer games hosted on the Battle Infinity platform, all of which offer rewards and token incentives. For instance, the project is building a fantasy sports game – the IBAT Premier League.
This will give users the chance to build a bespoke team of players from a particular sport, such as soccer, basketball, or cricket. Once a team has been assembled within the parameters of the IBAT Premier League, the success of each user will be determined by how each player performs in real games.
For example, let’s suppose that the user opts to build a fantasy soccer team that contains Harry Kane. If Kane scores two goals in the next game, then the player will be awarded points. As more points are accumulated by Battle Infinity users, this will transition into real-world rewards that are paid in IBAT tokens.
Within its gaming suite, the Battle Infinity ecosystem will also offer rewards in the form of NFTs. Each NFT will serve a specific purpose and aid the player in their gaming endeavors. Both NFTs and the IBAT token can be traded in the Battle Infinity ecosystem in an immersive way, in conjunction with the metaverse.
Additional tools available in the Battle Infinity ecosystem include a staking feature, which will offer an APY on locked IBAT tokens. Baring in mind that Battle Infinity is only at the very start of its journey, this could be one of the best Asian cryptocurrency projects for long-term investors.
Head over to the Battle Infinity website to read the whitepaper, there’s also a Battle Infinity Telegram group to keep you up to date with the latest news.
3. Lucky Block – Innovative NFT Competition Platform to Keep an Eye on
Lucky Block is an innovative NFT competition platform that offers a wide range of lucrative prize draws. It operates on top of the blockchain protocol and aims to be an inclusive platform for all regions, including the Asian continent.
The main concept is that users will need to buy a unique Lucky Block NFT, which is tied to the prize draw of their choosing. For instance, let’s suppose that a user wishes to access the ongoing Lucky Block competition that is offering a $1 million prize – paid in Bitcoin.
The user would first need to purchase an NFT, which initially grants access to the competition. Then, before, during and after the competition concludes, the NFT holder will earn rewards simply for holding. Rewards in the Lucky Block ecosystem are distributed in digital tokens – LBLOCK.
LBLOCK went through its presale campaign in January 2022 – whereby it sold out its full allocation 11 days early. After listing on Pancakeswap, LBLOCK went on to generate gains of over 6,000%. This was achieved in less than a month of trading. It is now possible to buy LBLOCk tokens at a huge discount, as the project has entered a market correction as per the bearish cycle.
4. NEO – Smart Contract Blockchain With High-Performance Levels
NEO is an established cryptocurrency project that was originally founded in 2014. With its roots in China, NEO was created by Da Hongfei and Erik Zhang. This is one of the best Asian cryptocurrency projects for those that wish to gain exposure to a growing smart contract ecosystem.
The NEO blockchain utilizes a consensus mechanism known as Delegated Byzantine Fault Tolerance, which offers fast and scalable transactions. For instance, it is estimated that NEO can handle up to 10,000 transactions per second. Moreover, NEO transaction fees are typically very competitive, especially when compared to its main competitor – Ethereum.
According to CoinMarketCap, NEO was trading at $0.39 when it first hit a public exchange in 2016. In early 2018, NEO generated an all-time high of approximately $187. This works out at gains of over 47,000%. Although this all-time high is yet to be realized since NEO did peak at approximately $120 in 2021. As of writing, NEO is trading 95% lower than its 2018 highs.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
5. BNB – Binance Exchange’s Proprietary Cryptocurrency
BNB is the native token of Binance – which is the largest cryptocurrency exchange globally. Binance was launched by Changpeng Zhao – a Chinese national, in 2017. However, like many homegrown exchanges in the country, Binance has moved out of China. Nonetheless, it is still one of the most utilized exchanges in the Asian region.
When buying BNB, investors are gaining exposure to the broader Binance ecosystem – which is highly diverse. For instance, BNB was originally created to offer Binance exchange traders a reduction in commissions – simply for holding the token. However, BNB now has many other use cases – such as being the native token of the Binance Smart Chain.
This is an independent blockchain network that supports BEP-20 tokens, of which there are thousands. In particular, newly launched projects like Battle Infinity will often opt for the Binance Smart Chain due to its reliability, speed, and low fees. All transactions on the Binance Smart Chain are subsequently settled in BNB – which gives it real-world demand.
BNB is also one of the best-performing cryptocurrencies in recent years. CoinMarketCap notes that the token was priced at just $0.11 in 2017, before hitting highs of almost $670 in 2021. This means that long-term investors buying BNB in 2017 would have been looking at gains of over 600,000%. As such, BNB is one of the best Asian cryptocurrency projects of all time.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
6. OKB – Native Digital Token of the OKEX Exchange
Formally known as the OKEx token, OKB is the native digital asset of the OKEx exchange. This cryptocurrency exchange is one of the most utilized in Asia in terms of trading volume and registered users. Although OKEx was originally a Chinese initiative, the exchange has since moved its headquarters to Malta.
Nonetheless, in terms of its use case, OKB holders will have access to reduced trading fees on the OKEx exchange. Moreover, OKEx is utilized to offer derivative and leveraged trading pairs, alongside other advanced speculative tools. Another reason why this is one of the best Asian cryptocurrency projects is that OKEx will regularly burn OKB tokens.
In its most recent round, the exchange bought and burned more than 2.4 million OKB – which was funded from OKEx commission fees. When it comes to performance, OKB opened trading in 2019 at $1.60. As of writing, OKB is carrying a 52-week high of $33 – which represents a growth of nearly 2,000% since the token was launched.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
7. Bitcoin – De-Facto Cryptocurrency of Choice That Trades at a Premium in Asia
Those with an interest in Bitcoin will likely already know that this digital currency is the most successful and dominant token in this industry. Not only in terms of mass awareness and token holders but also valuation. After all, during the bull cycle of 2021, Bitcoin reached new highs with a token value of nearly $69,000 and a market capitalization of over $1 trillion.
Although Bitcoin is not an Asian cryptocurrency project per se, trading volumes on the continent are extremely high. Interestingly, however, in many Asian countries – which includes South Korea, Japan, and even China, Bitcoin trades at a premium.
This means that citizens in these countries pay a higher cost price for Bitcoin when compared to other regions of the world. According to some estimates, this premium will often reach a high of 5% above the global spot price. As a result, this suggests that Bitcoin is viewed by many Asian investors as a solid store of value that is worth paying a premium for.
When it comes to recent performance, Bitcoin, like the rest of the cryptocurrency trading space, has seen its value drop by sizable levels. Since hitting nearly $69,000 late last year, Bitcoin has gone to lows of just under $20,000. Those that believe in the long-term potential of this project, however, can now buy Bitcoin at a huge discount.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
8. Huobi Token – Cryptocurrency Backing the Huobi Ecosystem
According to Bloomberg, Huobi is the largest cryptocurrency exchange in Asia. After facing regulatory issues in its home country of China, Huobi has since moved its headquarters to Seychelles. Nonetheless, this is perhaps one of the best Asian cryptocurrency projects for those looking to gain exposure to an ever-growing exchange.
With that said, Huobi now offers a lot more than just an exchange interface, as the platform has since branched out into other crypto-centric products and services. This includes everything from crypto interest accounts and staking to leverage markets and loans.
Sitting at the heart of its ecosystem is the Huobi Token. Built on top of the Ethereum blockchain, the Huobi Token supports a range of use cases, including the ability to vote on exchange proposals, trading derivative products, and discounted fees. The value of the Huobi Token rises and falls like any other cryptocurrency and it trades across dozens of exchanges.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
9. Shiba Inu – One of the Most Popular Meme Coins in Asia
Shiba Inu is one of the most popular meme coins with Asian investors. Perhaps the main draw with this cryptocurrency is the unprecedented returns it has generated in the two years it has been active. In a nutshell, the meme coin has since increased in value by millions of percentage points.
As a result, Shiba Inu is now a major player in the cryptocurrency trading scene – which translates into a large market capitalization of several billions of dollars. With that said, as of writing, Shiba Inu has since dropped in value by more than 85% when compared to the all-time high it achieved in 2021.
Although the project is a self-dubbed ‘Dogecoin Killer’, Shiba Inu is looking to become more than just a meme coin trend. On the contrary, Shiba Inu’s pseudonymous founder – Ryoshi, has announced plans to build a metaverse ecosystem. While details are still unclear, it is believed that the metaverse will contain over 100,000 plots of land and SHIB will be the native currency.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
10. Tether – Biggest Cryptocurrency in Asia After Bitcoin
A recent report found that after Bitcoin, Tether is the most sought-after cryptocurrency in Asia, partially because investors can earn interest on this stablecoin. The overarching reason for this is that Tether is a stablecoin pegged to the US dollar and thus, this offers a hedge against more volatile Asian currencies. Other than a slight blip earlier in 2022, Tether has always managed to keep its peg with the dollar.
By holding Tether, Asian investors also have the opportunity to generate a yield in their tokens. Moreover, Tether – which is built on top of the Ethereum blockchain, offers fast and secure transactions on a wallet-to-wallet basis. While Tether does not offer the opportunity to make gains, it does at the very least enable investors to avoid short-term volatility of both crypto and fiat.
History of Asian Crypto
Some of the largest and most successful cryptocurrency projects have originated in Asia. Perhaps one of the main reasons for this is that the Asian community is known for its ability to embrace emerging technologies and innovative concepts such as Chinese cryptocurrencies.
- For instance, although Binance was only launched in 2017, it has since gone on to become the largest cryptocurrency exchange by a considerable distance.
- Ordinarily, Binance will facilitate more than $10 billion worth of volume each and every day.
- Similarly, NEO is also one of the most successful projects to come out of Asia, with the smart contract blockchain offering lighting-fast transactions and a highly scalable ecosystem.
More and more notable projects are coming out of Asia, with the likes of Battle Infinity building a metaverse and NFT ecosystem that runs in conjunction with multiplier rewards games like fantasy sports.
In terms of usage on a consumer level, Asia is home to a significant number of cryptocurrency holders. This is often for speculative purposes, albeit, the likes of Bitcoin and Tether are held to hedge against volatile fiat currencies.
Asia Crypto Regulation News
In recent news Vietnam is developing a legal framework for crypto – the country has not banned crypto trading and allows citizens to hold crypto, and according to Statista public adoption of cryptocurrencies in Vietnam is among the highest in the world.
The move to fully legislate digital assets in Vietnam will open it up as an industry and Thailand based exchange platforms such as Bitkub are already reportedly looking to move to or expand their operations within Vietnam.
Binance has acquired a virtual assets service provider (VASP) license to operate in the Philippines, which now ranks 10th in cryptocurrency adoption. Its government and central bank have stated they will take ‘progressive stand on the adoption of digital assets’ and advancement of blockchain tech.
See our country-specific guides for more info on crypto regulations in Asian countries:
Is Asian Cryptocurrency a Good Investment?
Those wondering whether or not to invest in an Asian cryptocurrency might consider some of the key factors highlighted in the sections below:
Numerous Projects Have Gone on to Reach Multi-Billion Dollar Valuations
There are countless examples of Asian cryptocurrency coins that have since gone on to reach multi-billion dollar market capitalization. BNB is a great example here, not least because the cryptocurrency surpassed a valuation of over $100 billion in late 2021.
This meant that BNB was worth more than some of the largest blue-chip stocks globally. Perhaps even more important is the fact that BNB was priced at just $0.11 when it was first launched nearly five years ago – meaning that it has since gone on to generate gains of over 600,000%.
Presales are Popular in Asia
Asian investors are known to try and get in on a presale campaign of a newly launched cryptocurrency with the view of generating an immediate upside.
- The reason for this is that crypto presales offer the respective token at the lowest price possible before the project is listed on an exchange.
- A key example of this is Lucky Block – which originally offered its LBLOCK token at just $0.00015 via its presale launch.
- Just a few weeks later, those that were able to get in on the Lucky Block presale would have been looking at gains of over 6,000%.
As noted earlier, the Tamadoge presale is ongoing now having sold out its beta presale allocation in quick time and is open to investors on a global basis – including the Asian continent.
The Relationship Between Developing Countries and Crypto
Although the first cryptocurrency – Bitcoin, was launched more than a decade ago, it is still defined as an emerging technology. And as such, there is a clear correlation between developing countries in Asia with the growth of crypto.
This is particularly the case in Asian countries that have historically suffered from capital controls and/or high levels of inflation. Crypto also appears to be popular in Asian countries where the average wage is considered low.
For example, it was recently estimated that of all players regularly engaged in the Axie Infinity P2E game, 40% were based in the Philippines alone.
Cryptocurrency Offers 100% of Personal Wealth
Many communities in Asia are reluctant to trust financial institutions when it comes to storing personal wealth. This is perhaps another reason why cryptocurrency is so popular in the Asian region.
After all, when buying a cryptocurrency and transferring the tokens to a private wallet, nobody other than the owner of the funds has access.
How to Buy Asian Crypto
Those that are completely new to buying Asian crypto coins online might consider the step-by-step guide outlined below.
We explain how to buy Tamadoge via its presale launch, which we found is one of the best Asian cryptocurrency projects in the market right now.
How to Buy Tamadoge – Full Guide
Step 1 – Set Up your Wallet
If you are looking to buy Tamadoge you must set up a crypto wallet. Many of the best wallets are free and easy to use, but in this case we would recommend MetaMask as it has multi-chain functionality.
Head to the MetaMask website and click ‘Download’ – following the instructions on screen and being sure to note down your password and 12 word seed phrase.
Step 2 – Purchase USDT or ETH
Tamadoge (TAMA) tokens can be purchased using USDT or ETH directly from the Tamadoge presale website. You will need a credit or debit card once MetaMask is set up and connected – follow all the instructions on screen.
It is also possible to buy Ethereum or USDT using a respected crypto exchange or broker such as eToro, although you will then have to transfer from that platform into your wallet.
Your capital is at risk. Crypto asset investments are highly volatile and speculative.
Step 3 – Link Wallet to Tamadoge Presale Platform
Head to the Tamadoge website and hit the ‘Buy’ button, then on the following page click ‘Connect Wallet’ and choose your wallet provider, following the login instructions to complete the connection.
Step 4 – Buy Tamadoge
Enter the amount of Tamadoge tokens you’d like to purchase (minimum 1,000) and click ‘Convert ETH’ or ‘Convert USDT’, depending on which currency you have decided to purchase or already hold.
A pop-up screen will appear asking you to confirm the transaction.
Step 5 – Claim Tamadoge Tokens
The final step is to later claim your TAMA coins. You can do this once the presale has concluded by clicking ‘Claim’ on the Tamadoge website’s homepage.
Conclusion
This market insight has explored the 10 best Asian cryptocurrency projects to consider right now. In addition to NEO and BNB, Huobi and OKEx are some of the most notable success stories to come out of the continent.
We also like Tamadoge, which is in the middle of its presale, and Battle Infinity – which is set to be launched on PancakeSwap from August 17.
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption
Battle Infinity - New Metaverse Game
- Listed on PancakeSwap and LBank - battleinfinity.io
- Fantasy Sports Themed Games
- Play to Earn Utility - IBAT Rewards Token
- Powered By Unreal Engine
- Solid Proof Audited, CoinSniper Verified
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This article was written for Business 2 Community by Kane Pepi.
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