Investing in cryptocurrencies is definitely kind of scary if you’ve paid attention to the market recently. One minute Bitcoin, Ethereum, and other alt coins are flying high and making average investors healthy sums of money. The next minute the crypto market gets cracked and many of these digital currencies begin losing massive value.
Is it safe to get in now? Should I only invest in Bitcoin? Or should I spread the wealth among many other cryptocurrencies?
Personally, I believe it’s best to never keep all of your eggs in one basket. You’re much better off spreading the wealth over multiple cryptocurrencies and dividing your risk. Plus, some currencies do better than others on certain days. So, you’re able to grow your wealth quicker by investing this way as well.
But which cryptocurrencies are the best to invest in? I’ll tell you the top-rated cryptocurrencies by market cap and interest below. These digital currencies are worth hundreds of billions of dollars in some cases by market cap.
And they obviously have serious institutional interest and corporate interest as well. This interest makes them all great investments.
Keep reading to find out my top recommendations. And while you’re at it, please realize that you should invest in the top 10 cryptocurrencies in a cryptocurrency IRA. Find out about the best cryptocurrency IRA companies in the business by reading my full review.
People become so afraid of Bitcoin because of the massive percentage loss that it has experienced recently. But I feel much differently and recognize that all the damage has been done. Not only that, this exciting digital currency is already rebounding from its most recent lows.
Will it take off again like a rocket? Only time will tell. But I’m not here to tell you to invest for the short-term. I know Bitcoin is a solid long-term investment because of a few reasons. It has a $654 billion market cap and each digital coin is worth nearly $35,000 right now.
What does this tell us?
First off, it says that major institutions, corporations, and investors far and wide love buying Bitcoin. It even tells us that many countries are getting in on the act. Otherwise, the market cap would not be so high. And it never would’ve reached $1 trillion market cap not that long ago unless major investors are involved.
So, do not fear Bitcoin or any other digital currency for that matter. They cooled off because investors had to take profits. But profit-taking is over and it looks like this investment is poised to rise again in the near future.
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This is another great investment that recently cooled off. Right now, the overall market cap of ETH is $233 billion. And the current value of each specific ETH coin is $2005 per unit.
In the past 24 hours, the value of this currency has risen by 3.32%. But it’s also began to recover from its most recent low of $1891. So, it’s definitely on the rebound once more.
Why should you invest?
The obvious reasons are as follows:
- It has the second highest market cap of any cryptocurrency
- Institutional investors are buying this cryptocurrency
- It will do very well as a long-term investment
Next on the list is Ripple, better known as XRP.
Unlike the previous cryptocurrencies mentioned above, the overall amount of this currency is small. In fact, each XRP digital coin is only worth $0.68 and change at the moment.
On the other hand, the total market cap is $68.25 billion, which is certainly nothing to sneeze at. In fact, this huge market cap proves that there is a lot of interest in this digital currency.
Some reasons to consider investing in it include:
- It is low-cost so it’s easily scalable
- It has a low-cost so it’s easily accessible
- It has low fees
- Banks are very friendly to Ripple
I also like this digital currency for similar reasons to Ripple. The overall dollar amount is very low, which makes it easily accessible. It only trades for $1.36 per digital coin right now. And in the last 24 hours, the investment is up 13.15% which certainly proves that people are interested.
Besides that, the currency has a $43.78 billion total market cap. This also proves that investors, institutions, businesses, and countries around the world trust this digital crypto.
You should invest in ADA because:
- There is a great team behind this cryptocurrency
- It can be used for practical purposes
- The market potential is humongous
- It has a high market capitalization
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I don’t know about you, but I always like low-cost investments that I can buy a lot of. And that’s exactly what you get when you invest in Stellar since it’s currently trading for $0.26 per cryptocurrency.
As a long-term investor, this crypto has serious room for real growth. And with a $27.89 billion market cap, there is obviously serious interest in it as well.
Some reasons to buy Stellar a.k.a. XLM for your cryptocurrency IRA portfolio include:
- KYC functionality
- It’s listed on numerous exchanges
- It’s safer than XRP
- It has incredible growth potential
- It has a wonderful team behind it
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USD Coin (USDC)
This digital currency is also an excellent investment for many reasons that I’ll share below. But what I like most is the low dollar value. This means I can invest a lot in this currency and hopefully watch it grow over time. Because as of today, each digital coin is only worth $1.
Don’t let that deter you. The overall market cap for USDC is $24.72 billion! So, big time investors are obviously sinking a lot of money into this crypto.
Other reasons to invest include:
- It is not a Fiat currency
- It’s easily accessible on major exchanges
- It is a stable coin so it will not experience major fluctuations
Chainlink is certainly high on the list of hot cryptocurrencies with serious long-term potential. The current market value of each individual crypto is $18.91. The currency is up 6.65% today and it has a market cap of $18.91 billion.
Other reasons to invest in Chainlink include:
- It is the first Oracle system and it’s designed is incredibly robust
- The team led by founder Sergey Nazarov is amazing
- Chainlink 2.0 transitioned from a utility token to a full collateral staking token
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The current price for each individual UNI currency is $18.15 at the moment. And in the last 24 hours, the price rose by 4.29%.
The other important factor is the overall market cap of this digital currency. Its market cap is $18.15 billion, which is certainly nothing to ignore. It means major investors have a huge interest in this cryptocurrency.
Some reasons to invest in UNI include:
- There is major growth in decentralized exchanges
- It has become a mainstream investment and trade
- It has real cash flow and actual revenue
- The community surrounding it is strong and it has solid price-performance
- It is a potential Oracle solution
Polkadot is certainly one of the better cryptocurrencies to invest in and it deserves its listing on the top 10 rankings. It currently trades for $16.28 per digital coin and in the past 24 hours it has risen by 4.70%.
Even better, the overall market cap is $17.41 billion. This means that investors of all shapes and sizes are pumping billions of dollars into this digital currency. And it also means it isn’t going away anytime soon.
A few reasons to invest in DOT include:
- Polkadot processes much faster than Bitcoin so scalability isn’t going to be a problem
- The currency recently traded for a low of $2.81, which means it has grown by nearly 8 times in the past year
Rounding out our top 10 list is another favorite called LTC. It has major institutional investors and it currently trades for $134.42. Within the last 24 hours, this investment has risen by 7.22%. And the current market cap is $9.12 billion.
You should buy LTC because:
- It operates on better blockchain technology
- It uses a much simpler algorithm
- It has a decentralized proof of work algorithm
As you can see, there are many cryptocurrencies to invest in besides Bitcoin. Although, it still has the biggest market cap by a wide margin. Yet a few digital currencies on this list have a market cap of multiple billions of dollars. Some have tens of billions of dollars and others are hundreds of billions of dollars in market cap.
You cannot go wrong investing in cryptocurrencies. But you can invest in them the wrong way. The right way is to invest in a cryptocurrency IRA. And the best way to open a cryptocurrency IRA is choosing the right company. Read my top 3 reviews of the best cryptocurrency IRA companies in the business.