What Are the Best Cryptocurrencies to Buy Right Now?
The cryptocurrency hype is unavoidable, and cryptocurrency exchanges are no longer just on the fringes of the internet. Mainstream investors, founders, and institutions put money into digital currencies of all kinds, and adoption is becoming more common in commerce and governments.
But which cryptocurrencies are deserving of your attention, and which ones are better left untouched? We’ve compiled a list of the best cryptocurrencies across multiple categories so that you can develop a better understanding of your options.
In this article, you’ll find the biggest cryptos by market cap, the top movers in the altcoin category, and some speculative coins that we think are worth a second look.
We’re not providing investment advice – just a glimpse at the major cryptos on the market.
The Original Cryptos Stay Strong
It’s hard to believe that these cryptocurrencies have been in the spotlight for more than a decade. Here are the industry heavy hitters that still make headlines around the world.
Bitcoin (BTC)
Boasting a market cap of nearly $1 trillion, the culture and excitement around Bitcoin have only continued to grow. With a bombardment of endorsements from CEOs, celebrities, and even governments, you can’t ignore its rapid adoption.
Still, Bitcoin has a long way to go in terms of practicality and use as actual currency. Issues like transaction speed and efficiency have been brought into question, along with efforts to coordinate eco-friendly Bitcoin mining.
For now, Bitcoin holds the throne as “digital gold” and will remain on top for the foreseeable future.
Ethereum (ETH)
Often mentioned alongside Bitcoin, Ethereum has made a name for itself with a huge uptick in adoption and support.
The beauty of ETH goes beyond the coin itself, which has an impressive market cap of nearly half a trillion dollars.
The Ethereum ecosystem provides ETH’s real appeal, serving as a platform for developers to make apps, make and secure NFTs, and experiment with decentralized finance projects.
ETH has shown promise as an investment, but its potential goes far beyond a quick dollar.
Litecoin (LTC) and Ethereum Classic (ETC)
These “lightweight” versions of Bitcoin and Ethereum introduced shortly after their predecessors are still around, hovering around $10 billion market caps. In terms of positive press and adoption, both LTC and ETC have seen better days.
It’s not that investors have missed the boat on either of these assets—the crypto market can flip on its head in seconds. For now, investors in search of big gains may want to skip these coins in favor of exciting new projects.
Top Altcoins and Stablecoins
The altcoin category can be overwhelming, so we’ve hand-picked the most popular and reputable coins that deserve your attention.
Binance Coin (BNB)
It’s hard to believe that a proprietary exchange coin is one of the top-5 cryptos by market cap, but BNB simply shows the power of the Binance network.
If you like to day trade, swing trade, or jump from one crypto to the next like a cyberpioneer, you’ll want BNB in your wallet to make swift selections and max out your gains.
Even if you aren’t an active trader on Binance, it’s not a bad idea to hold some of this coin in your wallet on reserve, given recent boosts in price.
Ripple (XRP)
This famous altcoin has sat on the sidelines amid a lawsuit in recent months, but longtime supporters believe that XRP has the potential to take off once the caution tape is clipped.
With a market cap of nearly $60 billion, the investment is relevant. Now, the Ripple team must continue to develop its ambitious platform and navigate legal waters before they fulfill their much-discussed potential.
Cardano (ADA)
Founded by Ethereum innovator Charles Hoskinson, Cardano is a sleeper hit on the crypto marketplace. It quietly rose to a nearly $100 billion market cap in a few short years, with a passionate community of developers and investors supporting the project.
ADA is branded as an eco-friendly coin with a unique staking process that earns investors new coins as they hold long term, which is quite different from traditional crypto mining. The team also has plans to enter industries like healthcare, logistics, and even securing elections.
Monero (XMR)
Monero remains somewhat of a mystery of all the altcoins out there, but we can’t deny its practicality. XMR helps investors send and receive funds securely, anonymously, and fast.
XMR’s market cap isn’t enormous at around $5.5 billion, but it could be a smart play for curious crypto investors needing an alternative to bigger players.
Tether and USD Coin
The stablecoin category may be strange to crypto newcomers, but the concept is simple. Tie a digital asset to fiat currency—in this case, the US dollar—and earn rewards that help protect your portfolio from inflation or volatility.
You can choose between Tether and USD Coin if you want stablecoin assurance in your portfolio, but don’t expect any 10x magic overnight.
New Altcoins Emerge
Below, you’ll find a few recent big movers from the altcoin space.
Solana (SOL)
Solana’s price has risen steeply because of the DeFi craze and the endless search for gains in the crypto market.
Decentralized finance is the name of the game for SOL, whose mission is to make these solutions more accessible on a large scale.
Polkadot (DOT)
Right behind SOL is Polkadot, which aims to unite different blockchains and allow them to communicate with one another seamlessly.
Polkadot’s goal is ambitious, but its support and price show there may be something substantial in this project for the long term.
VeChain (VET)
Supply chain management is the modus operandi for VeChain’s developers, who have been hard at work since 2015 getting this project off the ground.
VET enjoyed a momentous spike during 2021’s springtime bull run but has now settled at a reasonable price with significant gains YTD.
VeChain’s support is fervent online, and it’s certainly one to add to your watchlist.
Chainlink (LINK)
Smart contracts are in the works as a form of secure digital agreement between parties, which is where Chainlink shines as a blockchain project.
Now, the Chainlink network is gaining momentum, as is its price and market cap. We’re eager to see how things pan out for LINK, which has a visionary plan for the future of smart contracts.
Stay in the Loop: Crypto News and Breakthroughs
From the front lines of Bitcoin mining to the odd corners of DeFi platforms, there is so much to discover in the world of crypto. Use this list as a foundation for discovery, and always be willing to learn more.
Beginners should look out for new initial coin offerings (ICO), and do more research about DApps, fiat currencies, and non-fungible tokens (NFTs) to really start your crypto journey.
In the meantime, be smart with your investments and stick to your principles. With a solid game plan, your efforts may pay off.
Sources:
3 Best Cryptos to Buy Now | Nasdaq