What crypto to buy now (September 2022)

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It's been a wild ride for cryptocurrency investors in recent years.

In September 2022, there are a lot of different factors to consider when trying to decide which digital currency to buy.

Here's a look at some of the key things to keep in mind as you try to figure out the best way to invest in cryptocurrency in the months ahead.

1. Bitcoin (BTC)

Market cap: $383 billion

Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin's price has skyrocketed as it's become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Sept. 1, 2022, a single Bitcoin's price was around $19,989. That's a growth of nearly 3,900%.

Our recommendation if you want to start with cryptocurrencies

2. Ethereum (ETH)

Market cap: $192 billion

Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).

Ethereum has also experienced tremendous growth. From April 2016 to the beginning of September 2022, its price went from about $11 to around $1,568, increasing around 14,155%.

3. Tether (USDT)

Market cap: $67 billion

Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it's backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether's value is supposed to be more consistent than other cryptocurrencies, and it's favored by investors who are wary of the extreme volatility of other coins.

Our recommendation if you want to start with cryptocurrencies

4. U.S. Dollar Coin (USDC)

Market cap: $52 billion

Like Tether, USD Coin (USDC) is a stablecoin, meaning it's backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.

5. Binance Coin (BNB)

Market cap: $44 billion

Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance's exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.

BNB's price in 2017 was just $0.10. By early September 2022, its price had risen to around $276, a gain of approximately 275,900%.

6. Binance USD (BUSD)

Market cap: $19 billion

Binance USD (BUSD) is a stablecoin that Paxos and Binance founded to create a cryptocurrency backed by the U.S. dollar. To maintain this value, Paxos holds an amount of U.S. dollars equal to the total supply of BUSD. As with other stablecoins, BUSD gives traders and crypto users the ability to engage in transactions with other crypto assets while minimizing the risk of volatility.

Our recommendation if you want to start with cryptocurrencies

7. XRP (XRP)

Market cap: $16 billion

Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.

At the beginning of 2017, the price of XRP was $0.006. As of Sept. 1, 2022, its price reached $0.32, equal to a rise of 5,233%.

8. Cardano (ADA)

Market cap: $15 billion

Cardano (ADA) entered the cryptocurrency scene somewhat later than other coins, but it has made a name for itself by being one of the early adopters of proof-of-stake validation. This method of transaction verification is much faster and uses less energy than proof-of-work validation (used by coins such as Bitcoin), making it more environmentally friendly. Cardano also allows for smart contracts and decentralized applications, which are powered by ADA, its native coin.

Cardano's ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA's price was $0.02. As of Sept. 1, 2022, its price was at $0.44. This is an increase of 2,400%.

Our recommendation if you want to start with cryptocurrencies

9. Solana (SOL)

Market cap: $10 billion

Solana is a decentralized platform that uses a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. The SOL token powers the platform and is used to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts.

When it launched in 2020, SOL's price started at $0.77. By early September 2022, its price was around $31.25, a gain of nearly 3,958%.

10. Dogecoin (DOGE)

Market cap: $8 billion

Dogecoin was started as a joke in 2013 but rapidly evolved into a prominent cryptocurrency thanks to a dedicated community and creative memes. Unlike many other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.

Dogecoin's price in 2017 was $0.0002. By Sept. 1, 2022, its price was at $0.061, up 30,400%.

*Market caps and pricing sourced from coinmarketcap.com, current as of Sept. 1, 2022.