There are nearly 20,000 cryptocurrencies out there and growing, with numerous token variations. Trying to look at what crypto to buy now can be a daunting task, as the volatility and shifts in pricing can be pretty significant. Many sites have created their cryptocurrency list to rank which cryptocurrencies are the best consistently.
But what they consider the best may not always be the best cryptocurrency to invest in. Furthermore, those lists might only look at a few elements, such as a total market cap or trading volume, without looking at what's behind it. Below you'll find the top cryptocurrency based on functionality, popularity, and market size.
Top 10 cryptocurrencies right now
Bitcoin
The original cryptocurrency will always be an option for people asking what the best cryptocurrency to invest in is. Without bitcoin, we wouldn't have the ecosystem that has grown since its creation. The bitcoin price is also the highest compared to the other crypto on our cryptocurrency list.
It reached highs of $60,000 per coin just last year, with the bitcoin price hovering around the $40,000 mark currently.
Ethereum
Commonly referred to as ETH, Ethereum's popularity came from it being the first open-source application to create cryptocurrencies. It also enabled the creation of smart contracts and the ability to build decentralized apps or dApps.
As a result, Ethereum is some of the best cryptocurrencies to invest in since they are an integral part of the entire ecosystem. Without Ethereum, its apps, or the network, a large portion of the system would end up going down.
Tether
Although Tether is not an investment cryptocurrency expected to grow, the USDT is a stable coin that helps make trading easier on most platforms. Tether constantly keeps the price at around $1, as its stability is ensured by real dollars.
Having this coin in any cryptocurrency portfolio is a prerequisite for hedging and the ability to quickly purchase the next promising cryptocurrency to invest in. You can also just hold USDT on a Simple account and get a high-interest rate on deposit every day.
Uniswap
The popularity of this decentralized exchange and token is that it's highly secure. It offers a non-custodial solution to providing liquidity to the cryptocurrency market. It's built off of the Ethereum market initially, with expansion into other popular blockchain networks recently.
The security comes from the fact that those who offer their liquidity are the only ones with access to it, and thus a hacker would have to hack every single wallet connected to Uniswap to pull out the funds.
Litecoin
Litecoin is also one of the original altcoins created around 2011 and was commonly paired with Bitcoin. As a result, its chain is similar to Bitcoin, and there aren't any additional functionalities powered by smart contracts here. Yet that's not the purpose of Litecoin, as it was built to provide transactional support to bitcoin and can process transactions up to four times faster.
In addition, its price is low compared to the bitcoin price, making it a good opportunity when answering what crypto to buy now.
Chainlink
Chainlink protocol and its related token have numerous real-world applications. Its primary use is as a secure, unhackable connector between the smart contract ecosystem and obtaining and processing data and information from outside, smart contracts, and cryptocurrency.
This link is why it's possibly the best cryptocurrency to invest in, as it helps to connect the two worlds.
Polygon (MATIC)
Polygon (MATIC) is an innovative, easy-to-understand solution for expanding and developing Ethereum's smart contract system. The core of the ecosystem is the Polygon SDK, the latest infrastructure to support the resilience of the Ethereum network. With Polygon, you can create different types of decentralized programs. This is an important tool for any advanced blockchain developer.
MATIC is a token for the Polygon platform, built on the ERC-20 protocol, which runs on Ethereum smart contracts. It is used as payment for blockchain settlements and as a cryptocurrency for exchange between users who interact in the Polygon network. The Polygon ecosystem transaction fee is also charged in MATIC coins.
Dogecoin
Created as a joke, its popularity has grown in recent years. It is tied to Litecoin (another on our cryptocurrency list), and Bitcoin is one of the earliest cryptocurrencies. The community enjoys it due to its easy entry into crypto and the fact that popular names are associated with it, such as Elon Musk and Snoop Dogg. It also uses much less energy to function as opposed to Bitcoin.
Shiba Inu
Another meme coin with a dog's picture on it is an altcoin of Dogecoin. Shiba Inu has enhanced functionality as it's built on the Ethereum network and is built on a smart contract enabling it to work with decentralized finance or DeFi, which Dogecoin cannot do. Shiba Inu and Dogecoin help create a beginner-level ecosystem for those interested in crypto with little to invest in.
Solana
Solana is also going after the slower processing times and high fees of Ethereum. It doesn't focus on an exchange like Binance Coin does, as it's working to keep the cryptocurrency ecosystem moving. It's becoming one of the most popular cryptocurrency options very quickly, as shown by its price per token and overall market cap. It definitely could be regarded as the best cryptocurrency to invest in, as it'll be a critical token for powering the system, similar to the popularity that comes of Ethereum.
Our list helps one see what crypto to buy now. It's the best cryptocurrency to invest in now because it helps to cover a mix of utility, functionality, and hedging, helping to diversify the portfolio. These are also some of the most popular cryptocurrency options out there, primarily because of their heritage and necessity for the entire market. Even the two meme coins Dogecoin and Shiba Inu help play a part as that gateway to those interested in dabbling with this market.
Keep in mind that the cryptocurrency market can be highly volatile and is a 24-hour market, so please make sure to invest responsibly. You can also buy any of these cryptocurrencies in the Simple app and receive a daily interest on the deposit just by holding coins on the account. It is much safer and more reliable than trading on exchanges.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
