This guide tracks top market cap cryptocurrencies and explains why some investors see value in them.
Keep in mind there is no guaranteed way to pick the best crypto to buy right now – instead, use this as general information to help make your own investment decisions.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
What are the best cryptocurrencies to buy right now?
Deciding on what to invest in will depend on what you're looking for.
Short-term investments are hard to pick. In addition to price data, consider using social media sentiment analysis and news to contextualise what price movements might mean and make an educated decision.
Keep in mind that most big run-ups in price are usually followed by a correction where the price comes back down after reaching a peak. So it is up to you to implement a strategy that allows you to exit with a profit before the market turns.
If you're investing over the long term, then you may want to consider "blue-chips" like Bitcoin (BTC) and Ethereum (ETH) which have a relatively well-tested track record. These coins have been adopted by financial institutions around the world and have utility beyond speculative investing.
The top 10 cryptocurrencies by market cap is filled with several of these potential long-term investments. Let's take a closer look at them and understand why they are a part of so many investment portfolios. Doing so may help you understand what qualities to look for in other crypto assets and help you make better investment decisions.
1. Bitcoin (BTC)
Bitcoin (BTC), released in 2009, is the world's first cryptocurrency. It was created by a person or persons known only by the pseudonym Satoshi Nakamoto. It pioneered blockchain technology and gave birth to a multibillion-dollar industry.
Bitcoin is a widely accepted form of currency that is not controlled by any government or corporation and can be sent to anyone, anywhere in the world.
Since its release, Bitcoin has witnessed exponential growth and outperformed every asset class over the past decade.
Why do people think BTC has value? Although it was designed as a peer-to-peer trustless digital payment system, many now consider it more of a store of value than a means of payment. It has even been called 'digital gold' due to its limited supply of 21 million coins and the difficulty involved in creating new ones.
2. Ethereum (ETH)
Ethereum (ETH) was crowdfunded in 2014 by a team of software engineers and is the most used blockchain for decentralised applications (dapps).
It introduced smart contracts via a custom programming language called Solidity. Smart contracts allow for the development of automated software and applications that use the Ethereum blockchain for security. You can think of Ethereum as a highly secure financial layer for the internet, with thousands of automated services, websites and applications that don't need staff to operate.
Ethereum currently struggles with slow transaction speeds compared to many of its competitors, although it has a robust development cycle that is set to tackle these issues.
Why do people think ETH has value? Ether (ETH) is the native currency of the Ethereum blockchain and is used to pay for network transaction fees, known as gas. Each transaction burns (destroys) a portion of ETH permanently, reducing the supply over time.
ETH can be staked (locked up) in return for earning yield.
3. Solana (SOL)
Solana (SOL) is a layer-1 blockchain released in 2020 by the Solana Foundation. Much like Ethereum, Solana supports smart contract functionality and the development of dapps.
These projects include NFT marketplaces such as Magic Eden and DeFi trading platforms including Raydium and Orca.
A large part of Solana's success as a layer-1 blockchain and direct competitor to Ethereum is its unique proof of history (PoH) consensus developed by Solana founder and lead developer Anatoly Yakovenko. PoH allows for blockchain scalability as well as fast and cost-efficient transactions.
In late 2022 Solana came under scrutiny following the declared bankruptcy of crypto exchange FTX, which was directly invested in and held a significant portion of the SOL circulating supply.
Why do people think SOL has value? SOL is the native coin of the network which means it is used to pay for transaction fees (gas) and can be staked in return for yield. It is a common trading pair for many of the DeFi protocols or NFT marketplaces on the network.
4. Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of the BNB Chain and was created by the world's largest cryptocurrency exchange, Binance.
BNB utilises smart contracts and has an ecosystem of dapps built on its network. It operates in much the same way as competitor blockchain, Ethereum, and was designed to improve ETH's network throughput and reduce transaction fees. Despite faster transaction times, BNB Chain has been critiqued for sacrificing decentralisation to achieve this.
Why do people think BNB has value? BNB is used to pay for transaction fees on the network, participate in Binance-exclusive token releases and receive discounted trading fees on the exchange.
Users can stake BNB to earn regular yield, which also helps reduce the supply and theoretically increase demand.
5. XRP (XRP)
XRP is one of the oldest cryptocurrencies, founded in 2012 by Ripple. Ripple originally designed XRP for use in cross-border payments.
Unlike blockchains such as Bitcoin and Ethereum, where new coins are generated at set intervals via mining or staking, XRP was pre-mined, with all 100 billion tokens being created at launch.
These pre-mined tokens were distributed to individuals and companies in large quantities. Questions and concerns have been raised regarding the true decentralisation of XRP, as a large majority of its tokens are held by just a few entities.
Why do people think XRP has value? XRP is issued by Ripple which has designed several products that are intended to use XRP, which mainly involve cross-border payments. Some investors perceive the success of XRP as being linked to the success of Ripple.
6. Dogecoin (DOGE)
Dogecoin (DOGE) was developed in 2013 by software developer Billy Markus to put some humour in the crypto space. Although it was originally released as a joke, DOGE has become one of the world's most well-recognised and popular cryptocurrencies, ranking in the top 10 projects by total market cap in recent years.
Dogecoin operates similarly to Bitcoin and Litecoin as it was created as a clone of these open-source codebases, otherwise known as a fork. Key differences include its uncapped total supply and fast block production time. It is most commonly used as a payment network.
Why do people think DOGE has value? DOGE experienced rapid growth throughout the 2021 bull cycle and was heavily promoted by crypto enthusiasts and eccentric billionaire Elon Musk. Musk's company, Tesla motor vehicles, began accepting DOGE as a form of payment in 2022, further increasing its recognition as a legitimate payment coin.
7. Tron (TRX)
Tron is a layer-1 smart contract platform designed as a competitor to Ethereum. It was founded by the Singapore-based Tron Foundation in 2017 following a US$70 million ICO (initial coin offering).
Tronix (TRX) is the native token of the Tron network.
Why do people think TRX has value? TRX powers the Tron network via a delegated proof-of-stake (DPoS) model, which aims to provide a fast, scalable decentralised app network. It has seen impressive growth since the 2021 crypto bull run, and is one of the few cryptocurrencies to have reached its 2021 price.
8. Cardano (ADA)
Cardano (ADA) is a layer-1 blockchain that, like Ethereum, supports smart contracts and operates under a proof of stake consensus.
This means developers can build and deploy dapps on top of Cardano's infrastructure.
Cardano was released in 2017 and rose to popularity almost instantly. Its instant trust and recognition by the crypto community can be partially attributed to its founder, Charles Hoskinson. Hoskinson is a notable figure in the crypto space and one of the core developers behind Ethereum.
While Cardano has a strong roadmap and team, it has fallen victim to development delays and is not considered as user-friendly as competitor networks such as Ethereum or Polkadot.
Why do people think ADA has value? ADA is the native coin of the network which means it can be traded for other assets, used to pay for transaction fees and can be staked (locked up) in return for yield.
9. Toncoin (TON)
Toncoin is the native cryptocurrency of The Open Network, an open-source layer-1 blockchain. It is supported by the Swiss non-profit The TON Foundation and aims to give users the ability to own their digital identity and data. It was originally developed in partnership with messaging app Telegram, but this partnership was ended in 2020 and TON is now managed by a community of independent developers.
Why do people think TON has value? TON features "sharding" technology, using multiple subnets on a single blockchain to improve scalability and speed. Toncoin is the native currency of this network and may benefit from any wider adoption of the TON blockchain.
10. Shiba Inu (SHIB)
Shiba Inu launched in 2020 and has since become one of the most recognisable "memecoins". Named the "Dogecoin killer", it grew in popularity during the 2021 memecoin craze and has since developed into its own crypto ecosystem.
Along with the original SHIB token, the project now has its own trading platform, ShibaSwap, as well as the staking token LEASH and governance token BONE.
Why do people think SHIB has value? Like Dogecoin, Shiba has developed a large and passionate online community. While SHIB initially launched with a supply of 1 quadrillion tokens, it has been programmed as a deflationary cryptocurrency. This means its total supply is "burned" over time and SHIB tokens become scarcer.
Methodology: Our list is based on the top 10 cryptocurrencies by market capitalisation at the time of last update, excluding stablecoins and liquid staking derivatives. Some of these coins have an established track record while others are more volatile with shorter histories. Nobody can say for certain which direction a crypto will go as past performance is no guarantee of future results.
This list should be used as a starting point for further research, doesn't represent an endorsement of any coin or project and should not be taken as personal financial advice.
What have been the best performing cryptos in 2024?
In terms of blue-chip coins, Bitcoin has arguably been the best-performing crypto in 2024. It has risen from around US$42,000 at the start of the year to setting a new all-time high of more than US$75,000. This represent an increase in market capitalisation of US$672 billion (from US$828 billion to around US1.5 trillion as of November 2024).
Solana has also been one of the best-performing blue chip cryptos and is up around 80% in 2024.
Of the top 100 cryptocurrencies by market cap, it's actually memecoins that have arguably enjoyed the best return in 2024.
Mog (MOG) is up around 4,700% so far this year and Pepe (PEPE) is up around 680% (as of 7 November 2024).1 But given the volatility of crypto in general, and especially memecoins, these prices are likely to change dramatically from day to day.
>h3>Where to buy crypto right now You can use the table below to compare crypto exchanges in Australia that will let you buy and sell the cryptos mentioned above.
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How to find the best crypto to buy right now
Finding the best cryptocurrencies to invest in relies on keeping on top of what's happening in the market each day. The tools in this guide are a good starting point, but should be used as just one part of your decision-making process. Here are some other ways to find the best cryptocurrencies to buy right now:
News. Keeping up to date with the latest news is a cornerstone of any investing strategy and helps make sense of movements in the market. You can follow dedicated outlets like CoinDesk and Cointelegraph for daily cryptocurrency reporting, or sign up to crypto newsletters such as Bankless or The Defiant for a more curated experience.
Research reports. Knowing what the market is going to do before it does it is every investor's goal. You can get ahead by reading industry reports like Messari's annual review and forecast, Kraken's monthly analysis of on-chain data and Finder's price prediction surveys.
Sentiment analysis. Analysing how other investors are feeling about specific coins or events in the market can help you spot trends and decide whether to take action. Social media sentiment analysis can be an effective way of tracking what others are saying about a given topic. You can use the tools provided in this guide to do your own analysis or explore using a paid service.
Technical analysis. Technical analysis refers to the tools and techniques used by traders to analyse price charts. You'll find most of the tools necessary for technical analysis on any major cryptocurrency exchange or you can use a popular service like TradingView. Technical analysis has a steep learning curve and takes years to master, so if you're considering adding it to your repertoire then you might want to consider taking a professional trading course.
Ask the experts: What data do you look at when investing in a new coin or token?
Expert insight
"Fundamental analysis involves looking at the project's whitepaper, the problem it aims to solve, the team behind it and its roadmap. Market capitalisation and trading volume can give insights into the asset's popularity and liquidity. Technical analysis, which involves studying price charts and using statistical measures, can help in understanding the asset's historical performance and potential future movements."
Damian Chmiel
Senior analyst and editor, Finance Magnates
When investing in any new coins or tokens it is vitally important to research the project extensively and ensure you fully understand what you are investing in. A large portion of crypto projects fail so it's wise to gather as much information as possible before deciding to invest. The whitepaper is the key document to the fundamental analysis of a new crypto project. You should be sceptical when reading it and assessing its claims.
In new coins and tokens, I look for decentralisation and community growth. If a token can be created at will by a corporation, then it's more like a share in a company than a decentralised asset, and it can drop to zero value overnight if the business fails. I also look for innovation. If there's no innovation and a lot of hype, that's a sign that it may end in a rugpull.
No one can guarantee what the best crypto to buy right now is – it's up to you to research and monitor the markets, then form your own trading plan.
We've written this guide to bring together some trends and give you a head start, but it's not investment advice.
If you're still new to cryptocurrency, then you can find plenty of guides on trading, coin profiles and more in our cryptocurrency hub.
Frequently asked questions
The best cryptocurrency to invest in depends on your individual goals. By monitoring news and social media sentiment and doing some technical analysis, you may be able to spot trending coins in time to capitalise and make a profit.
Cryptocurrency markets are global. This means that market data like price and volume is a snapshot of trading activity across the world and the best cryptocurrency picks will generally stay the same no matter which country you live in.
It's worth noting that some countries have attempted to ban privacy coins from being traded on local exchanges. In the US, the SEC has opened investigations into individual coins such as Tether USDT and Ripple XRP.
There's no way to guarantee which cryptocurrency will take off each day or even each year, but your best approach may be to actively research the trends that are developing in the crypto industry and find the coins most likely to benefit from those trends. For example, Solana has performed well over the last 12-18 months because of the huge swell in Solana-based memecoins.
Research firm Messari releases an annual report that includes market trends for the coming year.
Cryptocurrency trading profits are calculated based on your entry and exit price. The difference between these is the profit or loss. This means determining which cryptocurrency is most profitable is nearly impossible, as it boils down to your individual trading circumstances.
Cryptocurrency is widely considered a high-risk and volatile investment. You should seek personalised advice from a professional financial adviser before deciding whether or not to invest.
Be wary of social media influencers and peer pressure to buy. Make sure you fully understand the risks before you get started.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
James Edwards was the cryptocurrency editor at Finder. He led the editorial strategy and reported on the latest industry news to further Finder's mission of helping people make better financial decisions.
A relatively early adopter, James has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in his ability to boil down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think, and he has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq and is frequently called upon for market commentary in Australia and abroad. See full bio
Tom Stelzer is a publisher and writer for Finder, covering investing and cryptocurrency.
He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans.
He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio
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