10 Best Cryptocurrencies Redditors are Buying

Published November 14, 2021 at 11:05 am EST Updated September 7, 2026 at 1:48 pm EDT

In this article, we discuss the 10 best cryptocurrencies Redditors are buying.

Interest in cryptocurrencies has skyrocketed this year as institutional buying and celebrity buzz legitimates the new technology. However, despite talks of regulating the industry that is still very much evolving, the year has so far thrown up more questions than answers with regards to the complete digitization of money. Bitcoin, the most popular cryptocurrency, has hit multiple all-time highs but price volatility, even for the “biggest” coin, remains an issue of extreme concern for investors. In a major breakthrough, the first Bitcoin ETF has started trading on the stock market.

According to a report by the IMARC Group, a market research firm, the global cryptocurrency market was valued at more than $364 billion in 2020. This figure is expected to grow at a compound annual growth rate of a scary 60% in the next five years. The facts on the ground support this huge estimate. A March survey by the CNBC CFO Council found that mainstreaming of coins has reached new heights, even within large businesses, as 65% of US-based CFOs believe that the currency is “for real”.

Some of the top crypto stocks to buy right now according to Redditors include Tesla, Inc. (NASDAQ:TSLA), NVIDIA Corporation (NASDAQ:NVDA), and Alphabet Inc. (NASDAQ:GOOG), among others discussed below. Experts still caution that due to the volatility associated with crypto prices, investors should keep their crypto holdings small but diversified and should not rely on them to save for retirement or pay off debt. Crypto enthusiasts, on the other hand, some of whom have become millionaires through crypto, would disagree.

Photo by Adam Nowakowski on Unsplash

Our Methodology

These were picked from a careful assessment of comments published on different Reddit forums over the past 24 hours. The details of each cryptocurrency are mentioned alongside a discussion around top companies working in the sector to provide readers with some context for their investment decisions.

The hedge fund sentiment around the stocks was calculated using the data of 873 hedge funds tracked by Insider Monkey.

Why pay attention to hedge fund holdings? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Best Cryptocurrencies Redditors are Buying

10. Solana

Solana was launched as a cryptocurrency only in 2020 but has quickly gained more than 15,000% in value just this year to become the sixth-largest coin in the world with a market capitalization of $69 billion. In January, one coin of the currency was worth around $1.51. Presently, it is trading at around $229. One of the reasons for the popularity of the coin is that it is a competitor to Ethereum, the second-largest coin by market cap, and hailed as the future of blockchain. It is also one of the fastest coins, with speeds of 50,000 transactions per second.

The mainstreaming of coins like Solana has been facilitated by companies like PayPal Holdings, Inc. (NASDAQ:PYPL), a digital payments firm based in California.

At the end of the second quarter of 2021, 143 hedge funds in the database of Insider Monkey held stakes worth $16.3 billion in PayPal Holdings, Inc., the same as in the preceding quarter worth $14.7 billion.

Just like Tesla, Inc., NVIDIA Corporation, and Alphabet Inc., PayPal Holdings, Inc. is one of the stocks attracting the attention of retail investors.

In its Q4 2020 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”

9. Shiba

Shiba is a cryptocurrency created in August 2020 that has crossed $28 billion in market capitalization. The coin has rapidly gained popularity, entering the list of the top 10 coins in the world by market cap earlier this month. It is a spinoff from Dogecoin, a currency created as a meme in 2013, that has transformed into a usable coin presently traded for food, shopping, and other tasks. There is still a lot of volatility in the price of Shiba, but due to sustained interest from Redditors, as well as talks of presence on big crypto exchanges, the coin seems to be taking off.

Shiba has gained recognition in the wider finance world through the crypto initiatives of reputable brands such as Square, Inc. (NYSE:SQ), a payments firm headquartered in California.

At the end of the second quarter of 2021, 94 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Square, Inc., up from 92 the preceding quarter worth $9 billion.

In its Q1 2021 investor letter, RiverPark Funds, an asset management firm, highlighted a few stocks and Square, Inc. (NYSE:SQ) was one of them. Here is what the fund said:

“We established a position in leading Financial Technology provider Square during the quarter. Through one integrated system, SQ is a hybrid of two businesses: its Seller Business (charging small and medium-sized businesses about 3% for transaction payment processing, plus other services such as instant funds access, and software for everything from customer engagement to payroll), and its Cash App (originally for person-to-person cash transfers and now a growing digital financial services provider for consumers).

The combined business has grown gross profit at a 37% CAGR over the past five years to $2.7 billion (due to pass through costs, gross profit is more reflective of top-line growth) and we believe that the company has an enormous long-term runway, as it has less than a 2% share of a more than $160 billion market. It is our view that the company’s Cash App (which has grown

from nothing in 2015 to $1.2 billion gross profit last year) has a particularly large opportunity with its powerful ecosystem of digital financial services including digital wallets, direct deposits, stock trading, bitcoin trading, and business and tax services, which are all relatively new. The vast majority of Cash App’s more than 36 million users are younger and, importantly, are willing to replace their bank and other financial services accounts with the app.

We estimate that the company can grow its gross profit more than 30% and EBITDA more than 50% annually for the foreseeable future, and while most of the company’s current profit is from its Seller Business, we believe most of Square’s future value will be from its Cash App business.”

8. Algo

Algo is a cryptocurrency for the Algorand platform with close to $14 billion in market capitalization. The coin supports smart contract functionality based on a proof-of-stake system. The coin is one of the fastest-growing coins in the crypto world, with expert projections that it will double or triple in value within the next three years. The coin was founded by Silvio Micali, a professor at MIT. The proof-of-stake platform makes the coin more sustainable than other alternatives, a factor that is becoming increasingly important in the ESG business world.

Investors who want exposure to cryptocurrencies like Algo should also check out the work of Fiserv, Inc. (NASDAQ:FISV), a financial services technology firm, in the domain.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in Fiserv, Inc. with 12 million shares worth more than $1.2 billion.

In its Q1 2021 investor letter, Madison Funds, an asset management firm, highlighted a few stocks and Fiserv, Inc. (NASDAQ:FISV) was one of them. Here is what the fund said:

“This quarter we researched several new stock ideas, but because of high prices, acted on only one. Thus, a new portfolio name is Fiserv, with corporate headquarters in Brookfield, WI, just down I-94 from us. Fiserv is a technology company serving financial institutions (“FIs”) and retail merchants. It has two main business lines. In the first, it’s a market leader in outsourced IT solutions for banks and credit unions, online and mobile banking technology, digital money movement solutions, and card issuing services. Fiserv’s second core business is merchant acquiring and processing, where it’s a leader in providing a variety of solutions to help all types of merchants accept digital payments. They entered this business through the acquisition of First Data in 2019.

Within the first business, Fiserv’s software is critical to the daily operations of FI clients. Their solutions not only provide the vital central processing systems, but also enable services such as electronic bill pay and digital money transfers at both large institutions and local banks and credit unions alike. As such, it is an incredibly sticky business that is resilient through economic cycles. On the merchant acquiring side of Fiserv, they process trillions of dollars annually for millions of merchant clients. Their solutions cater to all types of merchants and optimize for seamless acceptance and high authorization rates while also limiting fraud. Similar to the IT outsourcing business, Fiserv’s merchant solutions are critical to their customers’ daily operations. Furthermore, we are especially encouraged by their investments in new solutions, particularly Clover and Carat. Clover is a small and midsize business merchant acquiring platform and Carat is an e-commerce acquiring platform. Both these products hit the bullseye in terms of the way people are interacting with the retail industry, and both are growing at above market rates, which we believe will sustain into the future.

In addition to Fiserv’s favorable business characteristics and competitive positioning, the management team, led by CEO Frank Bisignano, has a track record of successfully investing for growth, improving profitability, and intelligently allocating excess capital. We believe these value-creating activities will continue going forward.

Financial institutions are increasingly making investments to digitize…” [read entire letter here]

7. Cartesi

Cartesi is a cryptocurrency that markets itself as a solution to scalability issues and high fees on other blockchains. The coin has taken off in the past few days, touching a high of $1.60 on November 11 before taking a breather. It is now trading at around $1.2 Year-to-date, the coin has gained over 3,000% in value. The currency is available for trading on big crypto exchange platforms, although the price is still very volatile.

Cryptocurrencies like Cartesi have thrived at the market due in part to the ease with which they can be traded through platforms like Coinbase Global, Inc. (NASDAQ:COIN), a crypto exchange that debuted on the market earlier this year.

Among the hedge funds being tracked by Insider Monkey, New York-based firm ARK Investment Management is a leading shareholder in Coinbase Global, Inc. with 5.6 million shares worth more than $1.4 billion.

6. Loopring

Loopring is an Ethereum-based cryptocurrency that has exploded in value in the past few weeks. Presently, the coin is being traded at around $2.98 and has a market capitalization of close to $4 billion. The two main drivers in this frenzy — the coin has jumped in value by 700% in the space of four weeks — are rumors related to the utility of the coin in the “metaverse” concept and that GameStop is using Loopring to build an NFT marketplace. None of these rumors have so far been corroborated.

Loopring enthusiasts should also consider investing in Mastercard Incorporated (NYSE:MA), a payments and transaction processing firm.

Among the hedge funds being tracked by Insider Monkey, Virginia-based investment firm Akre Capital Management is a leading shareholder in Mastercard Incorporated with 5.8 million shares worth more than $2.1 billion.

In addition to Tesla, Inc., NVIDIA Corporation, and Alphabet Inc., Mastercard Incorporated is one of the stocks on the radar of elite investors.

In its Q4 2020 investor letter, Bretton Fund, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:

“While consumers resumed much of their spending by summer, what and how they used their Visas and Mastercards changed. For obvious reasons, people shifted to contactless payments—one of the Covid-era changes we think is permanent—and replaced travel purchases with online shopping and food delivery. Consumers spent more on their debit cards and less on their credit cards; Visa and Mastercard make more per transaction on the latter. They also make more on cross-border transactions that come mostly from international travel, which ground to a halt early in the pandemic. Visa’s and Mastercard’s earnings per share fell by 7% and 16%, respectively, compared to their usual mid-teens growth. We’re not too worried, and we think they’ll catch up nicely in the post-vaccine world. Visa’s stock returned 17.1% and Mastercard’s 20.2%.”

5. Polkadot

Polkadot is a crypto solution born from the academic need of identifying and laying out the problems present within existing blockchain systems and rectifying them. As such, the coin, created by Gavin Wood, is one of the most popular in the world with a market capitalization of close to $50 billion. The coin can be used on a platform that allows for trades in different types of assets instead of just tokens.

Coins like Polkadot are mined using the powerful chips developed by semiconductor firms like NVIDIA Corporation.

At the end of the second quarter of 2021, 86 hedge funds in the database of Insider Monkey held stakes worth $9 billion in NVIDIA Corporation, up from 80 the preceding quarter worth $6 billion.

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”

4. Monero

Monero is a cryptocurrency launched in 2014 that is famous for the privacy-first features it offers in relation to other coins. One key way in which the currency does that is by making senders and receivers anonymous by changing their digital addresses and hiding transaction details. Another advantage that the coin has is that it is fungible, which essentially means that two coins can be substituted in value without any difference.

Monero is a solid investment for those looking to enter the crypto universe, just like Tesla, Inc., an EV maker that has also invested heavily in the new technology.

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc., down from 62 in the previous quarter worth $10 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”

3. Harmony

Harmony is a cryptocurrency founded by Stephen Tse, a PhD in cryptographic protocols from the University of Pennsylvania. The coin makes use of a sharding process for decentralized applications that allows node times to be reduced and thus the speed and validity times are increased. It uses the Verifiable Random Function for random shard membership. The coin was released in 2017 and has a market cap of $3 billion.

Investors interested in harmony should also check out Visa Inc. (NYSE:V), the California-based payments company.

At the end of the second quarter of 2021, 162 hedge funds in the database of Insider Monkey held stakes worth $27 billion in Visa Inc., down from 164 in the preceding quarter worth $26 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:

“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa.”

2. Stellar

Stellar is a cryptocurrency that was released in 2014. The coin has made steady progress over the years and presently had a market cap of over $9 billion. The coin was first geared towards those that wanted to avoid banking. However, in the years since it was launched, the focus has shifted towards helping fintech platforms connect with one another through blockchain technology that makes use of the Stellar coin.

Stellar can become more mainstream through the crypto-related work of Microsoft Corporation (NASDAQ:MSFT), the Washington-based technology company.

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation with 24.8 million shares worth more than $6.7 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”

1. Ripple

Ripple is the cryptocurrency used on the Ripple platform, a fintech firm that could go public in the coming months. Ripple recently released a feature called the Liquidity Hub that will give enterprise clients access to crypto assets that include prominent coins like Bitcoin, Ethereum, Litecoin, and Ripple, among others. The cryptocurrency Ripple has a market cap of $118 billion and is presently being traded at around $1.1 per coin.

Crypto coins like Ripple are becoming more popular as firms like Facebook, Inc. (NASDAQ:FB), the technology company headquartered in California, adopt the blockchain.

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc., up from 257 in the preceding quarter worth $40 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ:FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”

You can also take a peek at 10 High Yield Dividend ETFs to Buy Now and 15 Fastest Animals in the World.

Follow Insider Monkey on Twitter