Bitcoin
Bitcoin (BTC)
$64,292.00 1.15407
Bitcoin price
Ethereum
Ethereum (ETH)
$3,503.59 0.80303
Ethereum price
BNB
BNB (BNB)
$586.36 0.93138
BNB price
Solana
Solana (SOL)
$134.34 3.8503
Solana price
XRP
XRP (XRP)
$0.4867610 1.17673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 4.51859
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.9594
Pepe price
Bonk
Bonk (BONK)
$0.0000211 5.21904
Bonk price
Bitcoin
Bitcoin (BTC)
$64,292.00 1.15407
Bitcoin price
Ethereum
Ethereum (ETH)
$3,503.59 0.80303
Ethereum price
BNB
BNB (BNB)
$586.36 0.93138
BNB price
Solana
Solana (SOL)
$134.34 3.8503
Solana price
XRP
XRP (XRP)
$0.4867610 1.17673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 4.51859
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.9594
Pepe price
Bonk
Bonk (BONK)
$0.0000211 5.21904
Bonk price
Bitcoin
Bitcoin (BTC)
$64,292.00 1.15407
Bitcoin price
Ethereum
Ethereum (ETH)
$3,503.59 0.80303
Ethereum price
BNB
BNB (BNB)
$586.36 0.93138
BNB price
Solana
Solana (SOL)
$134.34 3.8503
Solana price
XRP
XRP (XRP)
$0.4867610 1.17673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 4.51859
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.9594
Pepe price
Bonk
Bonk (BONK)
$0.0000211 5.21904
Bonk price
Bitcoin
Bitcoin (BTC)
$64,292.00 1.15407
Bitcoin price
Ethereum
Ethereum (ETH)
$3,503.59 0.80303
Ethereum price
BNB
BNB (BNB)
$586.36 0.93138
BNB price
Solana
Solana (SOL)
$134.34 3.8503
Solana price
XRP
XRP (XRP)
$0.4867610 1.17673
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000183 4.51859
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.9594
Pepe price
Bonk
Bonk (BONK)
$0.0000211 5.21904
Bonk price
SirWin
SirWin
SirWin

The best crypto to invest in for beginners: a simple guide

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The best crypto to invest in for beginners: a simple guide

Want to know what are the best coins to invest for beginners? Read our guide to reputable cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and more.

Dipping your toes into cryptocurrency can feel overwhelming, especially with so many options out there. However, experts suggest that starting with well-established and reputable digital assets can make the process smoother. 

To help you get started, we have compiled a beginner-friendly guide highlighting five of the best cryptocurrencies for beginners to invest in, considering their stability, market value, and potential for growth.

Bitcoin (BTC)

Bitcoin is the oldest and most valuable cryptocurrency on the market, making it a solid choice for beginners. As of June 4, 2024, Bitcoin’s market capitalization exceeded $1.35 trillion, a figure representing over half of the entire crypto market’s value.

First-time crypto investors should consider Bitcoin as an investment option because of the following reasons:

  • Widespread availability: Bitcoin is available on nearly all crypto exchanges and many conventional brokerage platforms, making it a near-perfect gateway cryptocurrency for beginners.
  • Growing acceptance: More businesses around the world are accepting BTC for transactions, and it’s even recognized as legal tender in countries like El Salvador and the Central African Republic (CAR).
  • Strong growth potential: Recent developments, such as the launch of spot Bitcoin exchange-traded funds (ETFs), have driven Bitcoin prices higher, even leading to it hitting a new all-time high price of $73,750 on March 14. Some experts have even predicted that the price of Bitcoin could reach over a million dollars by 2030.

Bitcoin’s established presence and continuous growth make it an excellent starting point for new crypto investors. While the price of one Bitcoin might be a bit high for the average investor, it is possible to buy smaller portions of it for much lower prices.  

Ethereum (ETH)

Although having a much more modest market capitalization compared to Bitcoin, Ethereum is a powerhouse among altcoins and a similarly great option for crypto beginners. 

Technically known as Ether, this cryptocurrency is the second largest by market cap and has a significant role in both the decentralized finance (defi) and decentralized applications (dapps) ecosystems. 

For those wondering which crypto is best for beginners, here are a few reasons why Ethereum should be a strong contender for your first crypto investment:

  • Defi dominance: As stated previously, Ethereum is the backbone for many decentralized finance protocols and applications, which drives a high demand for ETH. These applications rely on Ethereum’s blockchain to operate, making ETH a crucial part of the dapp and defi spaces.
  • High total value locked (TVL): As of the time of this writing, Ethereum holds the largest portion of the total value locked (TVL) in various networks, indicating its widespread use and trust.  TVL refers to the cumulative value of all the crypto assets deposited in various defi protocols. Per DappRadar, Ethereum’s current TVL stands at $89.01 billion, a figure that is several times more than those of its five biggest competitors combined. A high TVL often means that more people are using a platform, which should bode well for the value of ETH going forward.
  • Smart contracts: Ethereum also supports smart contracts, which are self-executing codes with terms written directly into them. This feature allows for a broad range of decentralized applications and has made Ethereum one of the most popular dapp-hosting blockchains. 
  • Continuous development: The Ethereum network is continually being improved, with the recent upgrade to Ethereum 2.0 aiming to enhance scalability and security. 

It means Ethereum should be able to keep up with technological progress in the blockchain industry, which should keep the value of ETH at a steady level.

With the above in mind, settling on ETH for a first crypto investment should not be a daunting choice to make.

BNB Coin

BNB Coin, the native cryptocurrency of the Binance ecosystem, is another choice when buying crypto for beginners. 

It may not have the same level of reputation and name recognition as the first two coins on our list, but it has managed to quietly establish itself as an important part of the broader crypto market.

Here’s why you should consider BNB among the best cryptocurrency for beginners in 2024:

  • Stable performance: Stability is key for any investment, and despite the crypto market’s volatility, BNB has shown consistent growth over the years. It was initially priced at $0.15 during its 2017 ICO and has seen significant appreciation since then. At the time of writing, BNB was priced at more than $645 and had a market cap of $99.3 billion, making it the third-largest non-stablecoin cryptocurrency in the market.
  • Controlled supply: With a maximum supply of 200 million and a current circulating supply of around 156 million, the value of BNB should benefit from this capped supply because it will create scarcity, which, over time, could help drive up the coin’s value.
  • Utility token: BNB offers transaction fee discounts on the Binance Exchange and is used across multiple blockchains within the Binance ecosystem. It facilitates trading on the Binance exchange, allowing users who hold BNB to enjoy discounted trading fees. Additionally, it can be used as collateral for margin trading, allowing users to leverage their positions and potentially enhance their returns.

Beyond trading, BNB serves as the primary currency for Binance’s decentralized exchange, Binance DEX. Users can trade cryptocurrencies in a non-custodial manner, maintaining complete control over their assets. 

BNB is also integrated into Binance’s decentralized lending platform, Binance Lending, where users can lend and borrow cryptocurrencies while earning interest. Furthermore, BNB can be used to pay transaction fees on the Binance Smart Chain (BSC), a high-performance blockchain developed by Binance. 

All these use cases in an ecosystem as dynamic and expansive as Binance’s should help safeguard BNB’s value in the long term, arguably making it one of the best crypto to buy now for beginners.

Solana (SOL)

Another coin that could potentially be among the best crypto investments for beginners is Solana (SOL). Its price performance over the last year has generally been positive, with the coin’s value increasing by more than 660% in that time, per data from CoinGecko.

The best crypto to invest in for beginners: a simple guide - 1
Solana one-year price chart | Source: CoinGecko

The Solana blockchain also boasts several features that should ensure SOL’s growing reputation in the crypto market and establish it further as one of the largest coins by capitalization: 

  • Speed and cost efficiency: Solana uses a unique proof-of-history (PoH) mechanism, enabling it to process up to 50,000 transactions per second at a fraction of the cost of Ethereum.
  • Scalability: Solana’s high throughput and low fees also make it an attractive platform for dapp developers and users alike.
  • Growing ecosystem: Solana has a thriving ecosystem of dapps, NFT platforms, and Web3 games, further enhancing its appeal. It is currently home to some of the most popular meme coins on the market, including Bonk (BONK) and Dogwifhat (WIF).
  • Environmental impact: Solana’s PoH and proof-of-stake (PoS) models are less energy-intensive than traditional proof-of-work (PoW) systems used by the likes of Bitcoin. 

In the current world, where people are big on environmental protection, cryptocurrencies with reduced ecological footprints may be viewed more favorably, and it would make sense for first-time crypto investors to buy such coins. 

Ripple (XRP)

Anyone looking for the best crypto to buy as a beginner should not overlook Ripple (XRP). The coin has been around since 2012 when Ripple created it to facilitate fast and cost-effective cross-border transactions. 

It has steadily risen to become one of the most prominent digital assets in the crypto sector, with a current market valuation of $29 billion.

Priced at $0.5252, XRP is currently the most affordable crypto for beginners on our list. The current price is a whopping 84.6% discount on XRP’s all-time high price of $3.40 and could serve to nudge prospective investors towards it. 

The best crypto to invest in for beginners: a simple guide - 2
XRP One-year price chart | Source: CoinGecko

Other factors that make XRP one of the best cryptos for beginners include:

  • Fast transactions: XRP can handle up to 1,500 transactions per second, making it one of the fastest cryptocurrencies available.
  • Low cost: XRP transactions are also cost-effective and do not require high energy consumption, unlike Bitcoin.
  • Financial partnerships: Ripple has partnerships with major financial institutions like MoneyGram and American Express, a factor that has boosted its credibility and usage.
  • Affordability: Trading at a lower price point, XRP is accessible to beginners with limited capital. This allows for potentially higher returns with a lower initial investment.

Final thoughts

When starting your journey into cryptocurrency investment, it’s essential to choose assets that offer stability, utility, and potential for growth. 

While not an exhaustive list, Bitcoin, Ethereum, BNB Coin, Solana, and XRP each provide unique advantages that can make them ideal choices for beginners. 

However, always remember to do your own research and consider your risk tolerance before investing in any cryptocurrency. Despite their relative stability, the coins mentioned above are also prone to periods of volatility, which could wipe out your investment.

FAQs

What are the best places to buy crypto for beginners?

There are several platforms where beginners can buy cryptocurrencies, such as Coinbase, Binance, and Kraken. These platforms are user-friendly and offer a variety of cryptocurrencies. However, you must remember that investing in crypto carries risk. Always do your own research and consider seeking advice from a financial advisor.

What is the best way to invest in cryptocurrency for beginners?

The best way to invest in cryptocurrency for beginners is often buying and holding a diversified portfolio of cryptocurrencies for the long term, regardless of short-term price fluctuations. However, it’s important to only invest what you can afford to lose and to do thorough research or seek professional advice before investing. Remember, the value of investments can go down as well as up.