10 top cryptocurrencies worth considering

Investing in crypto is now more accessible than ever, with thousands of cryptocurrencies in circulation. But choosing the right ones to invest in can seem overwhelming. Each coin offers different use cases, technology, and potential for growth, from digital cash like Bitcoin (BTC) to smart contract platforms like Ethereum (ETH) and decentralized finance (DeFi) projects like Uniswap (UNI).

In this guide, we’ll explore some of the top cryptocurrencies based on market value, utility, and future potential, and offer tips to help you make informed decisions tailored to your investment goals.

Where to find new cryptocurrencies

When it comes to discovering new crypto projects, it’s all about knowing where to look. Here are some key places to search for new cryptocurrencies to trade: 

Exchanges

Exchanges are online marketplaces that sell cryptocurrencies and can serve as a valuable learning resource. Each exchange offers a unique selection of crypto projects, often with educational sections containing detailed information. A popular example is Coinbase.

Data aggregators

Data aggregators provide comprehensive market data on new cryptocurrencies, listing projects by market cap and offering filters to organize them. They display crucial stats like price, 24-hour trading volume, and market cap, with links for more details. Popular examples include CoinMarketCap and CoinGecko.

Social media

Many traders use social media to discover new cryptocurrencies. By following popular crypto accounts, investors can track real-time updates on new projects. However, social media can sometimes overhype certain projects, so it’s wise to conduct additional research before investing.

Project Websites

Almost every cryptocurrency has a dedicated website, which is often the best source of information. These sites usually outline the project’s value propositions and link to whitepapers and blogs that detail the technology and economics behind it.

DeFi platforms

DeFi platforms often list the latest cryptocurrencies, sometimes before they appear on traditional exchanges. While discovering new projects early can lead to potential gains, it’s important to weigh the risks and rewards before connecting a crypto wallet to a new site. Popular examples include Uniswap and Aave.

10 top cryptocurrencies by market cap

With over 22,000 cryptocurrencies in existence (at the time of writing), figuring out where to start can be overwhelming. Many traders focus on the most popular crypto projects, and for good reason – cryptocurrency rankings are invaluable for that. Ranking the top coins by market capitalization helps simplify the selection process, making it easier to narrow down your options.

Bitcoin (BTC)

Currently the most expensive and largest cryptocurrency by market cap, Bitcoin (BTC) was created by the pseudonymous Satoshi Nakamoto in 2009 as a new form of digital cash. Its use of blockchain technology made it the world’s first decentralized cryptocurrency. Due to its size and market position, all other cryptocurrencies are considered “altcoins” (alternatives to Bitcoin).

Ethereum (ETH) 

Ether (ETH), the cryptocurrency tied to the Ethereum smart contract platform, accounts for over 15% of the total market cap. Ethereum's network enables developers to create decentralized applications (dApps) using digital rules for automated blockchain processes. Its proof-of-stake (PoS) mechanism assigns validators to verify transactions. ETH is essential for settling transactions within these dApps.

Tether (USDT)

Tether (USDT) is the world’s first and largest stablecoin, with its value pegged to the U.S. dollar. This stability allows traders to exit positions in volatile cryptocurrencies, protecting the dollar value of their holdings. Exchanges frequently pair Tether with other cryptocurrencies, making it easy for traders to switch between them.

Binance Coin (BNB)

Binance Coin (BNB), created by Binance, initially served to lower trading fees on the platform. Traders used BNB to cover their fees, and the exchange reduced charges for each transaction. While this option remains available, BNB now functions as the native token for Binance Smart Chain (BSC), a smart contract platform. Thousands of projects have been developed on BSC since its debut, making BNB one of the top cryptocurrencies by market cap.

Solana (SOL)

Solana (SOL) is a smart contract platform with a novel blockchain utilizing a unique consensus mechanism called proof-of-history (PoH). This allows the network to verify the time between events, enabling consensus on transaction validity. With this technology, the Solana network can handle more transactions faster than many other blockchain networks. SOL is the decentralized altcoin used to pay for transactions on the Solana network.

USD Coin (USDC)

USD Coin (USDC) is a popular stablecoin known for its regular audits and proven reserves, leading some traders to perceive it as less risky than many other stablecoins. It maintains the U.S. dollar equivalent of its entire market cap in reserve, ensuring the holder can redeem each USDC for $1.

XRP

XRP, developed by the company Ripple, is a cryptocurrency designed primarily for the financial services industry. While anyone can invest in XRP, its primary use is to facilitate global transactions for large institutions. In 2020, the U.S. government charged Ripple with selling unregistered securities, but despite this legal challenge, XRP remains a popular altcoin, consistently ranking in the top 10 by market cap.

Dogecoin (DOGE)

Dogecoin (DOGE) is the world’s first memecoin, created as a joke to poke fun at Bitcoin. It gained widespread popularity due to its viral, meme-inspired theme, playful nature, and fun-loving Shiba Inu mascot. Dogecoin saw significant gains after attracting the attention of Elon Musk, a vocal supporter of the cryptocurrency.

Cardano (ADA)

Cardano (ADA) bills itself as the first smart contract platform based on peer-reviewed research and emphasizes its status as the most environmentally friendly. The Cardano network features a sophisticated PoS blockchain, attracting investors committed to its transparency and sustainability goals. ADA is the native cryptocurrency associated with the Cardano blockchain.

Polygon (MATIC)

Polygon (MATIC) was created to help lower the trading fees associated with transactions on the Ethereum network. Polygon operates parallel to Ethereum as a layer 2 blockchain, using complex sidechains to improve transaction speed and reduce costs. MATIC is the cryptocurrency associated with the Polygon blockchain.

Investing wisely in top cryptocurrencies

Choosing which cryptocurrencies to include in a portfolio is a personal decision, but even the best investments can benefit from fine-tuning.

CoinTracker provides the tools needed to build wealth, file taxes, and optimize portfolios year-round, including powerful integrations, automated DeFi detection, and robust security.

Get started for free and discover why CoinTracker outperforms traditional financial tools.

Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.