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<p>If you want to invest in cryptocurrencies that might grow, you can think about buying some <a href="https://tradedog.io/layer2-infrastructure-report/" rel="noopener noreferrer nofollow">layer 2 </a>coins. Here are five to look into: Polygon (MATIC), Inspect (INSP), Arbitrum (ARB), Loopring (LRC), and Immutable X (IMX).</p><p>It can be tricky to find good layer 2 cryptocurrencies to invest in because there are so many new ones coming out all the time, and they can be very up and down in value.</p><p>According to Coinranking, right now, the total value of all layer 2 coins is more than $10 billion, and they&#39;re traded a lot, with more than $1 billion worth changing hands in a day. This shows that layer 2 coins are getting bigger and more popular, and both experienced investors and newcomers are looking for promising ones to buy.</p><h3 id="but-what-exactly-is-a-layer-2-blockchain">But What Exactly Is a Layer 2 Blockchain?</h3><p>According to Binance Academy, a Layer 2 blockchain is like a bonus layer built on top of an existing blockchain. Some experts describe it as an extra network that helps decentralized apps on a slow blockchain do transactions faster and cheaper.</p><p>Ever since blockchain technology began, there have been three important things it needs to be really good at: staying safe, being decentralized, and growing big. In the past, the people who started working on blockchain had a tough time making a blockchain project that had all three things right from the start. It was like a race where if you focus on two things, like being decentralized and staying safe, you might have to give up on the third one, like growing really big.</p><p>But now, thanks to the new Layer 2 networks, especially the one for Ethereum, things are changing. It seems like Layer 2 networks are becoming the most important part of the blockchain world.</p><p>So, think of layer 2 coins like digital money that uses an existing blockchain to make transactions faster and cheaper. Picture layer 1 as a busy highway and layer 2 as a shortcut to avoid traffic jams.</p><p>What are the good things about layer 2 blockchain? Here are the five main ones:</p><ol><li>It makes transactions faster.</li><li>It keeps your stuff private.</li><li>It makes transactions cost less.</li><li>It helps the blockchain grow bigger.</li><li>It makes things safer.</li></ol><p>Where can we use layer 2 blockchain? You can use it for tiny payments. Layer 2 helps make tiny payments cost less. So, you can use it for things like paying a little bit each time you use something.</p><h3 id="layer-2-blockchain-can-be-really-helpful-in-different-things">Layer 2 blockchain can be really helpful in different things:</h3><ol><li><strong>Supply Chain</strong>: It&#39;s good at handling off-chain transactions in an affordable and scalable way. So, it&#39;s great for keeping supply chains safe.</li><li><strong>Gaming</strong>: In games, Layer 2 makes things work better. It helps games run smoothly and makes buying stuff in games cheaper.</li><li><strong>DeFi (Decentralized Finance)</strong>: For money stuff on the internet, Layer 2 makes it work faster and safer. It&#39;s good for keeping your money private.</li><li><strong>NFTs (Digital Collectibles)</strong>: You know those digital art and collectibles? Layer 2 makes it easier and cheaper to make and trade them. It even helps find new ways to use them!</li></ol><h3 id="what-are-some-promising-layer-2-cryptocurrencies-to-consider-buying-in-late-2023">What Are Some Promising Layer 2 Cryptocurrencies to Consider Buying in Late 2023?</h3><p>No one wants to invest in something that won&#39;t grow. Everyone wants to put their money into something that will make them happy in the long run. So, if you&#39;re thinking about buying Layer 2 cryptocurrencies that have a good chance of doing well, here are a few to look at.</p><h3 id="please-note-that-this-list-is-not-in-any-particular-order">Please note that this list is not in any particular order.</h3><h3 id="1-polygon-matic-polygon-is-a-famous-layer-2-cryptocurrency-that-39-s-known-for-being-a-valuable-part-of-the-internet">#1 Polygon (MATIC): Polygon is a famous Layer 2 cryptocurrency that&#39;s known for being a valuable part of the internet.</h3><p>Polygon is the top Ethereum Layer 2 blockchain. It uses a special way called plasma with PoS-based side chains to make transactions super fast. It can do about 7,000 transactions per second, while Ethereum can only do 15 per second.</p><p></p><p>MATIC, the main coin of Polygon, gets used for different things like helping decide how the network works, paying for doing things on the network, and staking, which is like saving money on the network. Polygon is a type of Layer 2 cryptocurrency that&#39;s got a bunch of stuff happening on it. It&#39;s got about $893 million worth of stuff happening on it right now, and over 37,000 apps use it.</p><p>One thing that makes Polygon special is that it can connect different blockchains, making it easy for things to move between them. You can also buy and sell MATIC on different websites like Binance, Poloniex, Coinbase, Digifinex, and Huobi Global.</p><h3 id="2-inspect-insp">#2 Inspect (INSP):</h3><p>Inspect is another Layer 2 cryptocurrency that&#39;s been doing well. When it started, it had about $1.16 million worth of stuff happening on it, and lots of people, over 150,000, were part of it. Inspect helps you do things with crypto right on your Twitter. It&#39;s got about 75,000 apps and 30,000 extensions for your web browser that you can use to check out crypto, NFTs, and other crypto projects without leaving Twitter. Inspect also works on different blockchains, and it checks to make sure things are real and safe.</p><p>Inspect has its own coin called INSP. You can use INSP to do more things on Inspect and be part of how it works. You can also buy and sell INSP on Pancakeswap, Uniswap, and other places.</p><p>Note:</p><ul><li>INSP is the coin for Inspect.</li><li>The whole Inspect thing is worth about $1.16 million.</li><li>There are 1 billion INSP coins.</li></ul><h3 id="3-arbitrum-arb-arbitrum-is-another-layer-2-cryptocurrency-that-39-s-been-growing-in-2023">#3 Arbitrum (ARB) : Arbitrum is another Layer 2 cryptocurrency that&#39;s been growing in 2023.</h3><p>Arbitrum is made to help with a big problem on Ethereum: it gets too busy sometimes. It can do about 40,000 transactions every second, which is much faster than Ethereum&#39;s 15 transactions per second. Since it started in March 2021, lots of people have been using Arbitrum to help Ethereum work better. It makes things quicker and cheaper by bundling lots of transactions together.</p><p>At the moment, there are more than 435 different things happening on the Arbitrum chain. All these things added together are worth more than $2 billion. This means lots of people like using this thing.</p><p>The money for doing stuff on Arbitrum is called ARB. You use it to pay for things and to say what you think about changes. You can buy ARB on different websites like Huobi Global, Poloniex, Binance, Gate.io, and DigiFinex.</p><p>Note:</p><ul><li>ARB is the money for Arbitrum.</li><li>All the ARB together is worth about $1.47 billion.</li><li>There are 10 billion ARB coins.</li></ul><h3 id="4-loopring-lrc">#4 Loopring (LRC): </h3><p>Loopring is another Layer 2 cryptocurrency that&#39;s been doing well. It&#39;s been around since 2017, and it&#39;s good at making sure transactions are safe and cost less. It can do about 2,025 transactions every second, which is a lot more than the 2 or 3 it could do when it started. It uses something called zkRollups to make it faster and better.</p><p>Loopring has about $77 million worth of things happening on it, and almost all of its coins, about 96.87%, are being used. Loopring has something special: it has a wallet that helps you get your account back if you forget your password. You don&#39;t have to remember long secret words. You can buy Loopring coins on different websites like Binance, Kucoin, Huobi Global, and OKX.</p><p>Note:</p><ul><li>The money for Loopring is called LRC.</li><li>All the LRC together is worth about $248 million.</li></ul><h3 id="5-immutable-x-imx">#5 Immutable X (IMX): </h3><p>This is another Layer 2 cryptocurrency that has a lot of potential. Some smart people have said that Immutable X is one of the first things that help NFTs on the Ethereum network work better. It makes NFTs and games on the internet faster and less crowded. It does this by taking lots of transactions and putting them together to make one big proof that&#39;s super safe and fast.</p><p>Immutable X can do about 9,000 NFT transactions every second. So, it&#39;s really good for NFT projects that want to be fast and big. The money for doing things on Immutable X is called IMX. You can use IMX to pay for stuff, get rewards, and say what you think. You can buy IMX on different websites like Poloniex, Binance, Coinbase, Upbit, and OKX.</p><p>Note:</p><ul><li>The money for Immutable X is called IMX.</li><li>All the IMX together is worth about $1.42 billion.</li><li>There are 2 billion IMX coins.</li></ul><p><strong>Disclaimer:</strong>This article is for educational purposes only and not financial advice. Cryptocurrency investments are risky, and market conditions change. Conduct your research, consult experts, and consider your financial situation and goals. Be aware of regulations and tax implications in your area. The article&#39;s information may be outdated. Verify facts and consult professionals before investing. The author and platform do not endorse specific cryptocurrencies. Past performance is not a guarantee of future results. Always seek financial advice before investing.</p>

5 Great Layer 2 Cryptocurrencies to Consider Buying in Late 2023

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