Best Crypto Coins to Buy
Starting out in the world of cryptocurrencies is challenging since there are thousands of different cryptocurrencies, from Bitcoin and Ethereum to Dogecoin and Tether. To help you get started, here are the top 10 cryptocurrencies ranked by market capitalization, which measures the combined value of all coins that are currently in use.
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1. Bitcoin (BTC)
- Market cap: $322.3 billion
Satoshi Nakamoto invented the first cryptocurrency, Bitcoin (BTC), in 2009. Like the majority of other cryptocurrencies, BTC runs on a blockchain, which is a shared ledger that keeps track of transactions and is shared among a network of thousands of computers. Because modifications to the distributed ledgers must be verified by solving a cryptographic problem, a process known as proof of work, Bitcoin is kept secure and shielded from fraudsters.
The cost of Bitcoin has increased as it has grown in popularity. In May 2016, the cost of one Bitcoin was approximately $500. Approximately $16,741 was spent for one Bitcoin on January 3, 2023. There has been a 3,248% increase.
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2. Ethereum (ETH)
- Market cap: $149.0 billion
Programmers love Ethereum, a cryptocurrency and blockchain platform, because of its potential uses, such as so-called "smart contracts" that automatically execute when specific conditions are met and non-fungible tokens (NFTs).
Ethereum has expanded tremendously quickly as well. Between April 2016 and the end of January 2023, its price climbed by almost 10,970%, from around $11 to nearly $1,218.
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3. Tether (USDT)
- Market cap: $66.2 billion
Tether (USDT) is a stablecoin, which implies that, in contrast to some other forms of cryptocurrencies, it is backed by fiat currencies such as U.S. dollars and euros and theoretically maintains a value equal to one of those denominations. Because Tether's value is predicted to be more stable than that of other cryptocurrencies, investors who are wary of the extreme volatility of other coins pick it as a result.
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4. U.S. Dollar Coin (USDC)
- Market cap: $44.8 billion
USD Coin (USDC), a stablecoin that aims for a 1 USD to 1 USDC ratio and is backed by U.S. dollars, is similar to Tether. To complete cross-border transactions, use USD Coin, which is powered by Ethereum.
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5. Binance Coin (BNB)
- Market cap: $39.3 billion
Binance, one of the major cryptocurrency exchanges in the world, accepts payments in the form of the cryptocurrency known as Binance Coin (BNB). Since its debut in 2017, Binance Coin has developed, and it now performs more functions than only allowing transactions on Binance's exchange platform. It can now be used for trade, handling payments, or even making travel arrangements. It can also be exchanged for or converted into different cryptocurrencies like Ethereum or Bitcoin.
BNB barely cost $0.10 in 2017. By the end of January 2023, it will cost more than $246, an increase of almost 245,750%.
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Related: How To Buy Cryptocurrency
6. XRP (XRP)
- Market cap: $17.44 billion
XRP is a cryptocurrency that may be used on that network to facilitate trades of many currency types, including fiat currencies and other significant cryptocurrencies. It was developed by some of the same founders as Ripple, a digital technology and payment processing company.
XRP was worth $0.006 at the start of the year 2017. Its price increased by around 5,770% to $0.35 as of Jan. 3, 2023.
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7. Binance USD (BUSD)
- Market cap: $16.5 billion
Paxos and Binance established the Binance USD stablecoin to create a cryptocurrency backed by the dollar (BUSD). To maintain this value, Paxos holds an amount of US dollars equal to the full supply of BUSD. BUSD, like other stablecoins, makes it possible for consumers and traders to exchange one cryptocurrency for another while reducing the risk of volatility.
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8. Dogecoin (DOGE)
- Market cap: $9.51 billion
Dogecoin, which was infamously invented in 2013 as a joke, swiftly became a well-liked cryptocurrency thanks to a dedicated community and smart memes. Unlike many other cryptocurrencies, Dogecoins can be produced in an infinite number, making the currency susceptible to devaluation as supply increases.
Dogecoin's price in 2017 was $0.0002. In January 2023, it cost $0.07, a rise of more than 35,750%.
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9. Cardano (ADA)
- Market cap: $8.8 billion
Cardano (ADA), a slightly latercomer to the cryptosphere, is notable for employing proof-of-stake validation at an early stage. This method minimises energy usage, speeds up transaction times, and has less of an adverse environmental impact by removing the competitive, problem-solving part of transaction verification in systems like Bitcoin. Similar to Ethereum, Cardano allows for smart contracts and decentralised applications that are powered by ADA, the platform's native token.
The Cardano ADA token's growth has lagged behind that of other notable cryptocurrency coins. In 2017, the price of ADA was $0.02. As of Jan. 3, 2023, it cost $0.25. This is an increase of almost 1,170%.
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10. Polygon (MATIC)
- Market cap: $6.8 billion
2017 saw the launch of the cryptocurrency Polygon, formerly known as Matic Network. It is known as "Ethereum's internet of blockchains." Perhaps as a result, MATIC provides support for more than 7,000 decentralised applications (dApps).
Additionally, Polygon has expanded greatly since its initial release. The cost of MATIC was $0.00263 at the time of its original release. MATIC is currently up over 29,700%, trading at $0.78.
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