The rise of digital currencies has led to a vast selection of crypto options. With more than 22,000 cryptocurrencies available, it can be overwhelming to choose one.

However, there is no need to fret, as we have the answers you seek. Our guide offers valuable insights into the top ten cryptocurrencies, presented in descending order based on market capitalization.

With this information, you can make informed decisions about embarking on your crypto journey.

Solana (SOL)

Since its launch in 2020, Solana has gained approximately 3,158% as of April 2023.

What sets Solana apart from other cryptocurrencies is its distinctive blend of PoS (proof of stake) and proof of history, enabling it to validate transactions rapidly without the need for mining.

The firm concentrates on marketing its cryptocurrency for DeFi (decentralized finance), dApps (decentralized apps), and smart contract applications. Currently, SOL's market capitalization is roughly $10 billion.

Polygon (MATIC)

Polygon, formerly known as Matic Network, was established in 2017 with the aim of enhancing the transaction speeds of Ethereum.

By operating on the Ethereum network, MATIC is compatible with more than 2,000 dApps. Its current market capitalization is almost $11 billion, and it has experienced a growth rate of around 44,559% since its inception.

Dogecoin (DOGE)

Dogecoin has made a name for itself in the cryptocurrency market with its unofficial motto of promoting good deeds every day.

Currently, DOGE's market capitalization stands at roughly $13 billion. The use of lighthearted humor and memes has contributed to DOGE's success, and its ability to bring a smile to investors' faces is likely to lead to a prosperous future.

DOGE is also responsible for creating the meme category of cryptocurrency, which is highly volatile as its value is determined by its popularity.

Although it was supposedly started as a joke in 2013, the 46,640% increase in value from 2017 until now is no laughing matter, unless you purchased DOGE in 2017 and are now laughing with happiness.

Cardano (ADA)

Incorporating PoS early on and utilizing peer-reviewed research in its development, Cardano emerged as a pioneer in the cryptocurrency world.

Since its launch in 2017, it has gained an impressive market cap of $15.5 billion and experienced growth of around 2,124% up to the present time.

XRP

In 2012, Ripple was launched by a trio of developers who later founded it. Despite facing a legal battle with the SEC, Ripple remains a significant player in the cryptocurrency market, with a market capitalization of nearly $27 billion.

XRP's primary focus is on facilitating cross-border payments and employing a consensus protocol to verify transactions. Unlike other cryptocurrencies, XRP was created to operate within the current financial system. XRP has seen a remarkable increase of 8,576% since the start of 2017.

U.S. Dollar Coin (USDC)

USDC is a cryptocurrency that is backed by Ethereum and was launched by Circle in 2018. It is classified as a stablecoin because it is pegged to the value of the U.S. dollar with the aim of maintaining a 1:1 exchange rate. Stablecoins like USDC are not designed to generate independent profits.

However, in March, USDC experienced a loss of its peg due to the collapse of Silicon Valley Bank, but it quickly recovered and regained most of its value within three days. Currently, USDC has an estimated market cap of around $31 billion.

Binance Coin (BNB)

Initially, Binance Coin could only be utilized on the Binance exchange platform. However, it has now expanded to various other uses. Binance was founded in China, but due to the country's ban on cryptocurrency trading in 2017, it relocated to Japan.

Despite being embroiled in some unverified controversy, Binance remains one of the biggest cryptocurrency exchanges globally, with BNB's value increasing by approximately 244,611% since 2017 and its market capitalization exceeding $53 billion.

Tether (USTD)

The top three best crypto coins are being introduced, and the first one is Tether. Tether is a stablecoin with the largest market cap, estimated to be over $81 billion.

Tether has gained popularity by expanding beyond its initial base on Bitcoin and now supporting Ethereum, Solana, and other platforms. Investors who want to enter the crypto market while avoiding the high volatility of non-stable coins often prefer USTD.

Ethereum (ETH)

Program developers highly favor Ethereum due to its emphasis on smart contracts and dApps. In order to enhance its offering, ETH adopted PoS validation in the previous year.

Additionally, Ethereum supports numerous layer 2 alter--natives that increase its scalability while maintaining its security assurances. It has also been acknowledged for its continued efforts to incorporate individuals who have difficulty accessing financial services.

With a market capitalization of $252 billion and impressive growth of 19,093% from 2016 to 2023, Ethereum is currently the second-largest cryptocurrency.

Bitcoin (BTC)

Which option should be chosen?

Experienced investors can make use of the vast number of cryptocurrencies available and their highly volatile nature. However, it is important to conduct thorough research and stay informed to potentially reap exceptional gains. It is crucial to have a high tolerance for risk and only invest money that can be affordably lost.