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1 Bitcoin BTC
Price: $20,100 Market cap: $387 billion As the harbinger of the cryptocurrency era, is still the coin people generally reference when they talk about digital currency. Its mysterious creator — allegedly Satoshi Nakamoto — debuted the currency in 2009 and it’s been on a roller-coaster ride since then. However, it wasn’t until 2017 that the cryptocurrency broke into popular consciousness. 2 Ethereum ETH
Price: $1,476 Market cap: $181 billion — the name for the cryptocurrency platform — is the second name you’re most likely to recognize in the crypto space. The system allows you to use ether (the currency) to perform a number of functions, but the helps make it a popular currency. 3 Tether USDT
Price: $1.00 Market cap: $68 billion Tether’s price is anchored at $1 per coin. That’s because it is what’s called a . Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt. 4 BNB BNB
Price: $286.77 Market cap: $46 billion BNB is the cryptocurrency issued by , among the largest crypto exchanges in the world. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services. 5 USD Coin USDC
Price: $1.00 Market cap: $44 billion Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currency’s founders say that it’s backed by fully reserved assets or those with “equivalent fair value” and those assets are held in accounts with regulated U.S. institutions. 6 XRP XRP
Price: $0.4626 Market cap: $23 billion Formerly known as Ripple and created in 2012, XRP offers a way to pay in many different real-world currencies. Ripple can be useful in cross-border transactions and uses a trust-less mechanism to facilitate payments. 7 Binance USD BUSD
Price: $1.00 Market cap: $22 billion Binance USD is a dollar-backed stablecoin from in partnership with Paxos. Binance USD was launched in 2019 and is regulated by the New York Department of Financial Services. BUSD runs on top of the Ethereum blockchain. 8 Cardano ADA
Price: $0.4106 Market cap: $14 billion is the cryptocurrency platform behind ada, the name of the currency. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management. 9 Solana SOL
Price: $31.18 Market cap: $11 billion Launched in March 2020, is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its “web-scale” platform. The issuance of the currency, called SOL, is capped at 480 million coins. 10 Dogecoin DOGE
Price: $0.06283 Market cap: $8 billion Originally created as a joke after the run-up in Bitcoin, takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money. 11 Polygon MATIC
Price: $0.9206 Market cap: $8 billion Polygon is a cryptocurrency that focuses on being accessible to those creating digital apps and scales up the Ethereum cryptocurrency. It was previously known as Matic and was formed in 2017, though switched its name to Polygon in 2021. 12 Polkadot DOT
Price: $6.50 Market cap: $7 billion Launched in May 2020, Polkadot is a digital currency that connects the technology of blockchain from many different cryptocurrencies. A co-founder of Ethereum is one of Polkadot’s inventors, and some industry watchers believe Polkadot is looking to dethrone Ethereum. Bottom line
The cryptocurrency market is a Wild West (although the U.S. government is ), so those speculating in these digital assets should not put in more money than they can afford to lose. Volatility has been intense, with crypto assets fluctuating significantly in 2022. The market has been tumbling since reaching all-time highs in November 2021. And individual investors can be trading against highly sophisticated players, making it a fraught experience for novices. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. SHARE: Bankrate senior reporter James F. Royal, Ph.D., covers investing and wealth management. His work has been cited by CNBC, the Washington Post, The New York Times and more. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money.