Best Cryptocurrencies UK

What Are the Best Cryptocurrencies for UK Investors 2024?

The cryptocurrency market remains a roller coaster. Let’s take a look at the top-performing coins in the UK.

These coins were selected for gaining the most value in the past 7 days(26th January 2023)

Overall Best Cryptocurrencies to Invest in by Type in the UK

Cryptocurrencies are designed to fit various applications in the crypto market, below you’ll find the best option for each category.

• Best Store Of Value Cryptocurrency: Bitcoin (BTC)

• Holds The Most Market Enthusiasm: Ethereum (ETH)

• Most Promising Layer 2 Token: Polygon (MATIC)

• Best decentralised Application: Sushi (SUSHI)

• Best Hedge Against Eth: Cardano (ADA)

• Best Alternative To Ethereum: Solana (SOL)

• Highest Growth Potential: Ripple(XRP)

The 10 Largest Cryptocurrencies by Market Capitalization in the UK 2024

Now let’s take a look at the largest cryptocurrencies by market capitalization. This is an important statistic since these top coins are considered safe investment opportunities.

Bitcoin

Bitcoin is often labeled as the digital version of gold. It is considered as a perfect investment choice for individuals and institutions rather than a payment solution due to its historical performance. You can purchase this coin with a professional broker service like eToro and other crypto exchanges.

Ethereum

Ether is the largest smart contract token built on the Ethereum blockchain. It was launched in 2015 and by that time, 1 ETH was less than 1 British pound; however, in 2021, it reached £3,500. If you are interested in ETH, you can buy from eToro or any other crypto exchanges.

Tether

Tether is a stable coin that will always remain valued at $1.00. It was launched in 2014 by crypto enthusiasts and runs on several blockchains. The coin is not an investment digital asset but is great to hold for transferring funds between crypto exchanges. Also, you can stake the crypto assets to earn passive income.

BNB

BNB is a smart contract coin for the Binance blockchain network. Binance created its own blockchain networks to synergize with its crypto exchange platform. Though it was earlier minted on Ethereum, it then migrated to the Binance Chain.

USD Coin

USD Coin (USDC) is a stablecoin powered by the Ethereum blockchain. It was launched in 2018 by the Centre consortium. This coin can always be exchanged for US $1, just like Tether. It powers apps with anytime access to financial and payment services. You can buy USDC in different crypto exchanges.

Best Cryptocurrencies to Hold Long Term in the UK – HODL

HODling is an excellent investment strategy due to the high volatility of cryptocurrencies. Here are some great coins that have a long future and you can buy in different crypto exchanges.

These digital assets were selected due to the team’s ambitions and the groundbreaking technologies they expect to create. Many of these coins have not reached their full potential and are expected to grow significantly in the future.

HODL is a term used in crypto for people who buy and hold crypto indefinitely. HODLing came from a typo of ‘holding’ and it implies that holders keep crypto holdings the coin even if the value drops or becomes volatile.

Best Cryptocurrencies to Trade in the UK

When trading, you’ll want to use volatile coins throughout the day with high trading volume. Below you’ll find some excellent trading options for your trading needs.

These coins were selected due to their established technologies, transparent team, and volatility.

Best Cryptocurrencies For Day Trading In The UK

Day trading is done best when the coin you are buying has a high trading volume and swings in value heavily throughout the day.

These digital assets are perfect for day trading activities because of their high trading volume, high liquidity, and volatility.

Best Cryptocurrencies to Swing Trade in the UK

Swing trading is perfect with coins that dip heavily during crashes and recover gradually. Therefore, you should purchase coins with a strong community or strong fundamentals to ensure the price will swing back up.

These coins have been selected due to their large market cap, big price swings during dips, and future potential.

Best Cryptocurrencies to Invest In For A Beginner In The UK

Those new to the crypto world should invest in coins that are almost guaranteed to succeed to minimise risk.

These digital assets are perfect for newbies because they are established coins with great future potential.

Top Cryptocurrencies In Recent Years – Most Notable Coins in the UK

The cryptocurrencies mentioned below have performed well during previous bull runs, cementing their place in crypto history.

Best Alternatives to Bitcoin – Best Crypto On The Rise in the UK

If you’re looking for an alternative investment to Bitcoin, here are some brilliant trading options.

These coins have been on the rise recently for either implementing new technologies or being newly released. They have solid foundations, making them great alternative investment options to Bitcoin.

Should Investors Invest In New Cryptocurrencies and new crypto projects in the UK?

Buying new cryptocurrencies is risky due to the uncertainty of investors and institutions in adopting the coin. Before purchasing a newly developed coin, you should do your research. For example, check the team’s credentials, the problem it aims to solve, and tokenomics.

Top Cryptocurrencies With Small Market Cap

Small market cap coins have low daily volume and small valuations. The benefit of purchasing these cryptocurrencies is their potential growth.

These coins were selected due to the problems they aim to solve in the crypto industry. They have massive room for growth, making them perfect investment options.

Best Cryptocurrencies to Invest in Under £1

Here are the top cryptocurrencies valued at under £1.00.

They have been selected for their blockchain technologies, which provide fast transfer times, smart contracts, and communities.

Best Crypto Under 10 Penny

Below are the best cryptocurrencies priced under £0.10.

Most of these coins have small market caps, resulting in a sub £0.10 value for each coin. They have been selected for their potential growth and the unique problems they aim to solve.

Best Cryptocurrencies Under 1 Penny

The under 1p category features some interesting coins that provide various services.

These cryptocurrencies have been selected for providing usable services globally. Also, they have active communities on various social media platforms adding legitimacy to their projects.

What Types Of New Cryptocurrencies Are There?

There are various cryptocurrencies in the market that have different functionalities. Let’s go over them in more detail.

Crypto Coins Vs. Tokens

Coins are defined as coins built on their native blockchain platform like Ether of Ethereum; whereas tokens are defined as cryptocurrencies built on already existing blockchain platforms. For example, Ether is a coin whereas Shiba Inu is an ERC-20 token built on top of the Ethereum blockchain.

What Are Altcoins?

Altcoins are any coin other than Bitcoin. BTC is the original cryptocurrency, making every other coin created an “alternative” option.

How Many Cryptocurrencies Are There?

It’s difficult to say the exact amount of how many cryptocurrencies there are since anybody can create a new coin overnight. A rough estimate made by experts is around 22,000. However, the number is likely to increase since many crypto trading platforms allow you to create a coin for a cheap fee.

Why Are There So Many Cryptocurrencies?

Cryptocurrencies use blockchain technology to provide specific services. For example, Ethereum allows developers to build various applications, while XRP is used for global payments. Specialising in a product or service allows the underlying blockchain technology to be more efficient in the task. That’s why we don’t see a jack of all trades in digital currency because it’s better to be excellent in one sector than to be average in all.

Best Cryptocurrencies & Tokens By Category in the UK

Cryptocurrencies can be put in multiple categories based on the service they provide. Let’s dive into the top DeFi, CeFi, meme coins, and more.

Top DeFi Tokens in the UK – Best For Decentralised Financial Services

DeFi cryptocurrencies represent a diverse set of coins used to automate decentralised platforms by using smart contracts to interact with decentralised applications such as crypto exchanges.

Top CeFi Tokens in the UK- Best For Centralised Financial Services

CeFi cryptocurrencies are owned and controlled by a corporation that provides financial services. You cannot use these to interact with decentralised crypto exchanges, but you can use these on centralised staking platforms or similar.

Top Meme Coins in the UK – Best For Fun & Community Support

Meme coins are cryptocurrencies that were created as a joke, but they often gain value and popularity from the communities that develop.

Top Stablecoins in the UK – Best For Value Crypto Exchange

Stablecoins were made to prevent the need to crypto exchange tokens for fiat currency when transferring money between crypto exchanges. Their value always stays at $1.00 no matter their market cap.

Top NFTs & Collectible Tokens in the UK – Best For Collectibles

NFTs (Non-Fungible Tokens) is a technology that allows data to be stored on the blockchain. Each data point has unique verification allowing companies to store unique tickets, art, and collectibles on the blockchain.

Top Layer 2 Crypto Coins – Best For Low-Fee Transactions And Speed

Layer 1 cryptocurrency like Ethereum and Bitcoin are optimized for decentralization and maximum security. However, layer 2 coins are built on the existing framework of these blockchains, allowing much faster and cheaper transactions.

Top Privacy Tokens in the UK – Best For For Anonymity

Privacy tokens are cryptocurrencies that obscure transactions on the blockchain to maintain full anonymity.

Top Smart Contract Cryptocurrencies in the UK

Smart contract coins are cryptocurrencies that allow programs to be stored on the blockchain and run when specific conditions are met. Typically, they are used to automate applications like a decentralised crypto exchange.

Top DAO Tokens – Best For New Adventures

DAO (Decentralised Autonomous Organization) tokens are best to drive DeFi governance and can be used for investment, charity, creating NFTs, etc.

Top Storage Tokens – Best For Data Storage in the UK

Storage coins are used by individuals or businesses to deposit data into the chain for personal use and protection. The payment method of this service is usually with native cryptocurrency.

Top Cryptocurrencies to Avoid in the UK(A.K.A Shitcoins)

These coins you’ll want to avoid at all costs since they are considered “Shitcoins”. The name is accurate as these cryptocurrencies have no real value other than being pump-and-dump schemes.

Top Blockchain Ecosystem Protocols – Best For Crypto Enthusiasts in the UK

Blockchain ecosystem protocols refer to a network of participants that share collective objectives and relationships. The coins are excellent for transferring business value efficiently.

Best Cryptocurrencies to Stake in the UK – Top Coins for Passive Income

Staking is an excellent method of earning passive income on your investments. By staking, you validate transactions via the proof-of-stake mechanism, help the network, and receive a percentage reward. Below you’ll find the best and safest cryptocurrencies to stake.

It’s important to remember, you can stake tokens that support Proof of Stake (PoS) mechanics as opposed to Proof of Work. Proof of Stake mechanics uses your staked tokens to validate transactions on the blockchain.

Best Web 3.0 Projects, Coins, and Tokens in the UK

Web 3.0 is the next evolution of the internet. It aims to connect human civilization on a much larger scale with decentralization. Cryptocurrency plays a significant role in this next era as the global payment system.

Best Crypto For Mining in the UK

Crypto mining can be a very profitable venture if you select the right coin. Below is a list of the easiest coins to set up for mining.

Best Cryptocurrencies to Mine With GPU in the UK

Most cryptocurrencies are mined with a GPU due to their ability to mine faster and more efficiently. Take a look at the top cryptos that are best mined with a GPU setup.

Best Cryptocurrencies to Mine On CPU in the UK

Typically, you want to avoid using a CPU to mine because it’s inefficient and wears down faster. Due to the less computing power, you’ll want to mine coins with easier equations to solve.

Best Cryptocurrencies to Mine On Laptop in the UK

To mine on a laptop, you’ll need either a powerful GPU or CPU to generate the most profit. Since these smart devices have less power, you’ll want to select a cryptocurrency that is easy to mine.

Best Cryptocurrencies to Mine With Nvidia Card in the UK

Nvidia cards are the best option for mining cryptocurrencies due to their powerful cores and processing speed. Below are the best coins to mine with an Nvidia card.

Are There Any More Types of Crypto to Buy?

Unfortunately, these coins didn’t make it into the other categories but are worth researching. They have excellent tokenomics, trustworthy teams, and huge community.

If I had £1,000 to Invest In Cryptocurrency – Which Crypto Should I Buy?

If you had £1,000 to invest in cryptocurrency you should diversify your portfolio between multiple categories. The amount you put in each category depends on the risk you want to take on. The safest option is to put your money into Ethereum and Bitcoin, but the profits will be much smaller compared to other altcoins.

Stable Coins

Although they will not gain value, you can stake them to earn passive income.

Blue Chip Coins

Cryptocurrencies like Ethereum and Bitcoin are considered blue-chip coins because they are expected to always gain value in the long-term future.

Web 3.0 Tokens

The next era of the internet will rely on multiple Web 3.0 tokens like SingularityNet, Chainlink, and Filecoin for their services.

Layer 2

These coins make the parent blockchain much faster and cheaper. Also, they provide utility for millions of users.

Best Cryptocurrencies That Will Go to The Moon According to Reddit

Investors use the term ‘to the moon’ when hoping for a big increase in their cryptocurrency or other asset’s value. The phrase comes from the moon sitting in the sky and ultimately the value of a coin or token going ‘sky high’.

Best Cryptocurrencies by Broker and Crypto Exchange in 2024 in the UK

Cryptocurrency brokers and crypto exchanges receive different volume rates on their crypto trading platforms. Let’s take a look at the most popular coins they provide.

Top 5 in the UK- Best Cryptocurrencies On Coinbase

Coinbase is a beginner-friendly crypto exchange that offers hundreds of coins to buy and stake.

Best Crypto to Buy On Robinhood in the UK

Robinhood is a crypto broker that facilitates transactions and lets investors purchase various altcoins.

Best Crypto to Buy On eToro in the UK

eToro is the largest and most beginner-friendly crypto broker. They provide various cryptocurrencies, stocks, and commodities to buy.

Best Crypto to Buy On Gemini in the UK

Gemini is a crypto wallet that allows users to purchase Bitcoin and various altcoins.

Best Crypto to Buy On Crypto.com in the UK

Crypto.com is an crypto exchange platform that provides a huge selection of crypto assets. Moreover, they have a unique debit card, various staking programs, and lending best trading options.

Best Crypto to Buy on Naga in the UK

Naga is a crypto trading platform that allows users to invest in altcoins, penny stocks, and indices.

Why Invest in Cryptocurrencies in the UK?

There are several reasons why you’d want to invest in cryptocurrency today. Below are the main factors-

More Practical Use:

Cryptocurrencies can be used as investment assets or as a payment method. With crypto, you can transfer funds globally within minutes at ultra-low transaction fees, making it more practical than banks.

Anonymity:

If you want your finances to become anonymous, purchasing crypto can help disclose personal information. All crypto wallets have unique addresses allowing users to be fully anonymous. Moreover, you can take it a step further and use privacy coins that encrypt transaction data, making it untraceable.

Support for the Decentralised Financial System:

By purchasing cryptocurrency, you are supporting the decentralised financial system. Ultimately, when crypto gains widespread adoption, it will replace banks with transparent institutions.

Profitability:

Cryptocurrencies are great investment opportunities due to their high volatility. Purchasing a coin early can generate significant gains for your investment portfolio.

What Should You Pay Attention to When Choosing A Crypto to Invest in the UK?

Many beginners fail to do their research when buying a coin and lose out on potential profits. Also, multiple scams take on the appearance of a legitimate project, tricking people into investing. Therefore, you should take the time to thoroughly research a project before allocating a large portion of your portfolio.

Buy Cryptocurrencies At The Right Moment:

Typically, when prices surge to new all-time highs, a correction is bound to happen, creating the perfect opportunity to buy. These dips provide the perfect moment to stock up on the cryptocurrency you’ve selected.

Choose A Safe Online Broker:

Before buying any coin, ensure the platform you are using is legitimate. They must be regulated by a respected authority and have a license to operate. Also, they should provide multiple layers of security.

Invest In The Best Crypto:

Purchase coins with a future in the crypto market since they are less riskier. Projects with strong fundamentals are bound to rise in price as they get adopted.

Do Not Assume That There Are No Risks In Investing In Cryptocurrencies:

Investing in cryptocurrency is risky due to the high volatility. You should expect huge price swings that could put your portfolio in the negative.

What to Look For In Good Cryptocurrencies?

There are a few factors you can look into to determine if a coin is a good investment. Let’s analyse them in greater detail.

Adoption Rate:

How quickly the coin is getting adopted by individuals and companies is important to determine its longevity. The cryptocurrency you’ve selected should have multiple partnerships in the pipeline to ensure a fast growth rate.

Market Cap:

The value of a coin is determined by the market cap. If it’s in the billions, the coin is unlikely to grow substantially and increase the value of each token. However, a good project with a low market cap showcases room to grow and generate significant profits for crypto investors.

Promising New Technology:

Coins that promise new groundbreaking technologies usually have a lot of hype that can impact prices positively. If the cryptocurrency becomes successful, those who invested early will reap the rewards.

Security Or Anonymity Features:

The cryptocurrency’s blockchain must use advanced security to protect it from being compromised. You can find what precautions the team took in the whitepaper.

Industry Utility:

For a cryptocurrency to grow in value, it must provide utility for companies or individuals. Look at what problem the coin aims to solve and determine if it’s worth an investment.

Can Cryptocurrencies Be Used For Illegal Activity In The UK?

Cryptocurrencies can be used for illegal activities due to their nature of being decentralised and hard to trace. Moreover, with coins like Monero and Zcash, all transactions are effectively deleted, making it difficult to follow how much and where the money is going. Therefore, criminals have turned to cryptocurrency as a payment method since the government cannot accurately trace the money.

What Are The Most Popular Cryptocurrencies Used For Illegal Activity in the UK?

Bitcoin was the first cryptocurrency adopted by criminals for its advanced security, difficult-to-trace transactions, and anonymity. Most notably, it was the main currency used on Silk Road, a website that sold various illegal items. However, with the creation of privacy coins like Monero and Zcash, transactions were hidden, making them perfect for illegal activities.

Which Crypto to Buy in the UK?

The cryptocurrency market is valued at over £845 billion, with around 22,000 cryptocurrencies to buy. We’ve gone over the best coins for each category to make it easier for you to decide what to invest in. If you’re interested in Web 3.0 and the next era of the internet, then Ethereum, Cosmos, Decentraland, and The Graph are some excellent coins to buy.

When investing in cryptocurrencies, it’s vital to do the research beforehand to ensure the coin has a bright future. The main factors you should look at are the founding team, tokenomics, and the service they aim to provide. Remember that crypto is highly volatile, so invest accordingly.

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