Bitcoin is trying to break through all-time highs (again) and I’m glad I bought some when I was reviewing the Coinbase cryptocurrency platform last year. It’s turned out to be one of my more profitable reviews. But aside from Bitcoin, what are the best cryptocurrencies to invest in? In this guide we take a look at five of the best cryptocurrencies to invest in.
Before we get started though, it’s important to understand that investing in crypto is not like investing in shares on the stock market, it is much riskier and in many cases more expensive. For example, there are investing apps where you can buy shares at the market price for free, but the costs of investing in cryptocurrency is still quite high.
For instance, in the below table you can see what major cryptocurrency platforms charge when buying or selling crypto.
| Cryptocurrency Platform | Number of Cryptocurrencies | Costs & Fees | Customer Reviews | GMG Rating | More Info |
|---|---|---|---|---|---|
 | 120 | 1% | See Offer Capital at risk |
||
 | 150 | 3.5% | See Offer Capital at risk |
||
 | 30 | 1.99% | See Offer Capital at risk |
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
As you can see from that risk warning it’s also very volatile, and there is a high likelihood that you could lose all your money. We talk a bit about what may happen to crypto prices in the future in our latest podcast about the world’s richest investors.
So, with over 25,000 digital assets (and growing) what crypto to invest in? Here we take a look at a few of the biggest and most popular digital asset that seem to be attracting lots of investors.
1. Bitcoin (BTC)
- Current Price: $95,285
- Market Cap: Approximately $1.8 trillion
Bitcoin is by far the most well-known cryptocurrency, recently reaching an all-time high near $100,000, but it didn’t quite get there. This latest rally was fueled further by favourable regulatory expectations following the U.S. elections and increased institutional adoption following the listing of Bitcoin ETFs.
2. Ethereum (ETH)
- Current Price: $3,584
- Market Cap: Approximately $380 billion
Ethereum continues to be the premier platform for decentralized applications (dApps) and smart contracts. Its recent upgrades have enhanced scalability and reduced transaction costs, maintaining its position as a leading altcoin.
3. Solana (SOL)
- Current Price: $236.63
- Market Cap: Approximately $80 billion
Known for its high-speed transactions and low fees, Solana has attracted numerous projects to its ecosystem, contributing to its substantial growth.
4. XRP (XRP)
- Current Price: $1.49
- Market Cap: Approximately $70 billion
XRP facilitates cross-border transactions for financial institutions, offering a fast and cost-effective solution. Its ongoing legal developments have a significant impact on its market performance.
5. Dogecoin (DOGE)
- Current Price: $0.401623
- Market Cap: Approximately $50 billion
Initially created as a meme coin, Dogecoin has gained mainstream attention, partly due to endorsements from public figures. Its recent price movements reflect speculative interest. It’s even more relevant now that Musk is engrained in the Government and still has a tendency to say crazy things on Twitter/X that can ramp prices.
Does biggest mean best?
No, I don’t think it does, but size and liquidity can make a digital asset less volatile than smaller ones where there is not as much liquidity.
I am still undecided about whether cryptocurrency is a valid asset class. There are plenty of arguments for it’s use case, and it is without doubt still in it’s infancy and the world seems to be moving far faster than any of us can understand at the moment.
My final thought would be that if you are going to buy and invest in cryptocurrency, you do so with money that you can afford to lose, do not allocate more than a small percentage of your portfolio to it.
Afterall, you wouldn’t invest all your money in one stock, so why would you invest all your money in one crypto, in one asset class, that may be make-believe.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
