A vast number of cryptocurrencies are available to purchase. With such an array of options to choose from, narrowing down a list of the 10 best coins to buy can be daunting for prospective investors. There are many factors to consider before putting money into a coin. Good market capitalization, security, use case, and liquidity are a few of the main aspects to look for when it comes to investing in coins.
1. Ethereum (ETH)
During the time when this cryptocurrency was created, the blockchain-driven concept of cryptocurrency was still in its earliest stages. Ethereum was the first coin to come up with the novel concept of “smart contracts.” These contracts enable specific programs to be deployed on the blockchain. The programs automatically get executed when certain legal and contractual conditions are met. Smart contracts simplify legal agreements through cryptocurrency.
As its adoption rate continues to grow, many market experts believe that Ethereum will become the top crypto coin in the world. In fact, spot Ether exchange-traded funds (ETFs) have received approval from the Securities and Exchange Commission (SEC) as well.
2. Tether (USDT)
This is classified as a stablecoin, or, in other words, a type of cryptocurrency that is less volatile compared to others. A stablecoin is pegged to a stable asset like a fiat currency to maintain its value in the market. Backing from fiat currencies like dollars or euros keeps the market value fluctuations of these cryptocurrencies at a minimum.
As its price is stable, investors wary of the extreme volatility of other currencies put their money on this coin. Its steady value makes it one of the top 10 coins to invest in at any given period. The consistent value of this currency is $1, and every now or then, there may be fluctuations of a few cents.
3. Bitcoin (BTC)
The original cryptocurrency, this coin is unique as it is created with open-source software. This helps other cryptocurrency creators form their own coins without having to reinvent the wheel. This revolutionary blockchain-based currency came with the ability to conduct transactions without the involvement of a trusted third party like a bank or other centralized entity.
Bitcoin runs on a blockchain, meaning it consists of a ledger logging transactions distributed across a network of thousands of computers. This currency is secure, as any changes or additions to the distributed ledgers must be verified by solving a cryptographic puzzle. This process is known as “proof of work” and it helps keep bitcoin secure from fraudsters.
Bitcoin is almost always near the top of the list when it comes to the best coins to invest in right now. Compared to some of the newer cryptocurrencies, this one’s value is fairly stable too.
4. Solana (SOL)
This is one of the most rapidly rising coins out there. Solana was developed to help boost the decentralized finance (DeFi) uses, smart contracts, and decentralized apps (DApps). This currency runs on an efficient hybrid proof-of-stake and proof-of-history mechanism to process transactions with lightning speed and utmost security. Solana’s native token SOL powers this blockchain platform.
Many investors consider this currency to be a more powerful variant of Ethereum. Like ETH, SOL may spawn an ecosystem of cryptocurrency-powered products and services.
5. Binance Coin (BNB)
This is another rapidly growing cryptocurrency available for purchase. Initially created on Ethereum’s network, it now works on Binance’s own blockchain platform. Its native token, BNB, is used for a range of applications and transactions. The BNB token gives users discounted fees on the Binance platform.
6. Ripple (XRP)
The cryptocurrency is known to facilitate incredibly quick and low-cost cross-border payments. This quality makes it popular among financial institutions. Currently valued at below a dollar, Ripple certainly stakes a claim to being one of the best coins to invest in because of its incredible market capitalization rate.
7. Toncoin (TON)
Like Ethereum, this coin is supposed to be used on a fast, scalable blockchain that enables secure smart contracts and decentralized applications. Users employ this coin for network operations, games, transactions, or collectibles built on the platform.
8. Cardano (ADA)
This is another decentralized blockchain-powered coin that is built on an open-source platform for adequately supporting peer-to-peer transactions in bitcoin fashion. A key benefit of this coin is its Proof-of-Stake algorithm, which is more energy-efficient than Ethereum’s Proof-of-Work (PoW) system. This means the coin incurs lower energy, reduced environmental impact, and lower transaction expenses, making it one of the top 10 coins to invest in.
9. Avalanche (AVAX)
Rapid blockchain-driven transactions are possible through Avalanche, a cryptocurrency with the token name AVAX. This currency facilitates thousands of transactions as it is set up in a trustless decentralized platform that is used for making payments, securing the network, and staking. AVAX incentivizes active participation within the network and encourages users to engage and contribute to the blockchain ecosystem. AVAX is known to offer versatile support for a number of blockchain initiatives. This empowers developers to create a varied list of applications and projects within Avalanche’s blockchain ecosystem.
10. Dogecoin (DOGE)
This is an open-source, peer-to-peer cryptocurrency that uses a decentralized ledger system and blockchain technology like the rest of the coins on the list. The decentralized ledger is used to store information, which is maintained across a network of computers known as nodes. Dogecoin is one of the most popular cryptocurrencies, and its value has increased exponentially in recent years.