Here is the list of the top 10 best cryptocurrencies to buy in October for big benefits

Cryptocurrencies are making headlines but there is so much more to discover about these currencies. From Bitcoin and Ethereum to Dogecoin and Tether, the cryptocurrency market is expanding to a large extent with more investors wanting to trade cryptos. If you are planning to invest in cryptocurrencies here is the list of the top 10 best cryptocurrencies to buy in October for big benefits.

Bitcoin

Current Price: US$56,396.65

Market Cap: US$1,060,186,065,846

Each Bitcoin is a computer file that is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. You can buy Bitcoins using real money. You can sell things and let people pay you with Bitcoins.

Ethereum

Current Price: US$3,576.08

Market Cap: $419,965,410,748

Ethereum is a blockchain platform with its cryptocurrency, called Ether (ETH) or Ethereum, and its programming language, called Solidity. As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. While Ethereum is far behind Bitcoin in value, it's also far ahead of the other competitors. Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology.

Cardano

Current Price: US$2.21

Market Cap: US$70,713,354,818

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.

Binance Coin

Current Price: US$417.07

Market Cap: $70,003,244,590

The coin is used as a utility token for the Binance exchange and allows users to pay for transactions and trading fees at a lower rate than they would be with other tokens. Binance uses the process of token "burns," meaning they use the profit from token sales to repurchase more BNB and then burn (destroy) them.

Tether

Current Price: US$1.00

Market Cap: US$68,425,406,123

Tether is a cryptocurrency with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is called a stablecoin because it was originally designed to always be worth US$1.00, maintaining $1.00 in reserves for each tether issued.

XRP

Current Price: US$1.15

Market Cap: US$53,701,356,434

According to Ripple CTO Stefan Thomas, XRP is quicker and cheaper at fractions of a penny and about three seconds faster per transaction compared to other digital assets. 2 XRP offers other advantages as well: using XRP, banks can source liquidity on-demand in real-time without having to pre-fund Nostro accounts.

Solana

Current Price: US$149.13

Market Cap: US$44,482,154,399

Solana is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake and proof of history. Its internal cryptocurrency is SOL. Bloomberg considers Solana to be "a potential long-term rival for Ethereum". Like Ethereum, Solana can interact with smart contracts.

Polkadot

Current Price: US$35.03

Market Cap: US$34,778,254,168

Polkadot is a platform that allows diverse blockchains to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable, heterogeneous, multi-chain technology. Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains. This means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible.

USD Coin

Current Price: US$1.00

Market Cap: US$33,204,780,159

USDC is a stablecoin pegged to the price of a US dollar. Its goal is to make transactions faster and cheaper than traditional payments while reducing the volatility typically associated with cryptocurrencies like Bitcoin. USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs.

Dogecoin

Current Price: US$0.2338

Market Cap: US$30,694,943,439

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time. Despite its satirical nature, some consider it a legitimate investment prospect. Unlike numerous other cryptos, like Bitcoin, there is no restriction on the quantity of Dogecoins that can be made, which leaves the cash vulnerable to degrading as supply increases.