Bitcoin, a better-known cryptocurrency and arguably the current gold standard for cryptocurrency investments, gained over 1,300% in 2017. More than a dozen other cryptocurrencies outperformed Bitcoin with gains ranging from 3,300% up to Ripple’s astounding 36,000% gain.
Since then, crypto enthusiasts have been trying to figure out the next bitcoin or best cryptocurrency to get their hands on.
Right now, there are more than a thousand cryptocurrencies in the market to make you feel spoilt for choice. So, how can you make a smart decision? This article is here to help you.
Take a look at our list of the best cryptocurrency to get on board.
1. Bitcoin (BTC)
The granddaddy of all cryptocurrencies, Bitcoin was first and is the most well-known cryptocurrency on the market. It also benefits from the largest market cap and is among the most highly traded cryptocurrency, assuring liquidity in the short term. Bitcoin is the king when it comes to retail adoption, leading all other cryptocurrencies in terms of acceptance as a payment medium.
Despite the volatile nature of the market, Bitcoin is the most stable one. While the name is synonymous with cryptocurrency, Bitcoin’s popularity, demand, and adoption are expected to grow manyfold in the coming years. The future of that is already being shaped with companies opening to the idea of accepting Bitcoins for payment.
2. Ethereum (ETH)
As the currency and platform that made “smart contracts” part of the cryptocurrency market’s vocabulary, Ethereum has seen massive gains since its introduction in 2015. Currently trailing only Bitcoin in regard to market capitalization, Ethereum has become one of the most widely discussed cryptocurrency projects in the world.
Ethereum was the first cryptocurrency to introduce smart contracts that allow developers to create desktop and mobile decentralized applications powered by blockchain technology.
Ethereum has maintained its position in the top cryptocurrencies of all time ever since and has a loyal team of investors who vouch for this cryptocurrency. This means Ethereum has a better chance of remaining stable, after Bitcoins.
3. Ripple (XRP)
Ripple diverges from much of its cryptocurrency competitors in a number of ways. Ripple is an invention of Ripple Labs, and the Ripple token is being used in high-speed and low-cost money transfers worldwide.
Ripple gets a mention in this list because its vision is a little different from the rest of the cryptocurrencies on this list. Ripple is a venture-backed startup that is known to offer finance settlement services to banks in a way to facilitate transactions directly and instantly across national borders.
4. Binance Coin
If you own either Bitcoins or Ethereums and want to diversify your portfolio, look no further than Binance Coin. The parent company, Binance, has a strong business history that has created a useful ‘utility token’.
The value of Binance Coin comes from its usefulness and its demand which is for traders to use Binance Coins to buy other cryptocurrencies on Binance Exchange. It is worthy to note that Binance Exchange is one of the world’s fastest-growing cryptocurrency exchanges
This is an affordable cryptocurrency that is becoming a cult favorite at a rapid pace. Since its inception in 2015, it has become a strong player in the market with its Ouroboros blockchain, which means having two blockchains instead of one. Here, one blockchain will manage general ordinary transactions while the other will manage smart contracts.
The fact that Dogecoin still stands strong after not being taken seriously is a statement in itself.
First, Redditors spiked the price to new heights in early 2021 as a way to prevent the speculated short-selling of Dogecoins by many Wall Street hedge funds.
And then, Elon Musk called himself the “Dogefather” promoting this cryptocurrency further. While many argue the legitimacy of this coin, Dogecoin continues to have its share of market value.
7. Bitcoin Cash
Speculations around Bitcoin’s scalability gave rise to Bitcoin Cash, a peer-to-peer electronic cash system that is supremely scalable.
It has a market cap of $8,993,553,011, one of the biggest out of the lot. With the name Bitcoin attached to it, Bitcoin Cash is one of the most-eyed cryptocurrencies by big-time investors.
8. Chainlink (LINK)
Chainlink (LINK) is an Ethereum token that powers the Chainlink decentralized oracle network. This network allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.
Chainlink entered the market in 2014 under the name SmartContract.com. Shortly after its launch, the name changed to Chainlink to better represent the its core market.
Chainlink set up a strategic partnership with Google in 2019. The agreement secured Chainlink’s protocol within the Google smart contract strategy. This move was seen as a major win by investors as it allows users to connect to Google’s 2 most popular cloud services.
Did you know Tron was actually founded on Ethereum in 2017? Now with its own blockchain platform, TRON is an independent cryptocurrency that also uses the Proof of Stake algorithm to process transactions.
At present, Tron has a market capitalization of $4,406,488,234 which is expected to increase. Compared to Ethereum, this crypto coin hosts more decentralized apps, which is what is making it increasingly popular.
10. EOS (EOS)
Another cryptocurrency with smart contracts like Ethereum, and which is gaining in popularity is EOS. EOS is credited with being the first blockchain operating system, offering decentralized applications that live on the blockchain and parallel processing, enabling faster transaction speeds and better scalability than some competitors. Transactions on the EOS network are free.