5 Best Cryptocurrencies Redditors are Buying

4. Ripple

Ripple is an open source payments solution developed by Ripple Labs. The solution includes the Ripple cryptocurrency, exchange platform, and remittance network. It is ranked fourth on our list of 10 best cryptocurrencies Redditors are buying. Ripple was first released in 2012, but the first stable release came as recently as 2018. It is one of the most popular cryptocurrencies on the market. Amid the present controversy surrounding coin mining, it is prudent to mention that a study by Stanford University in 2017 had found that running a server on the Ripple network was like running an email server. 

American payments company Square, Inc. (NYSE: SQ) has helped bring cryptocurrencies like Ripple to the mainstream. Square, Inc. (NYSE: SQ) primarily invests in Bitcoin, the most popular cryptocurrency, but has close to $400 million in total crypto-related holdings. The firm is one of the biggest institutional buyers of digital assets. 

At the end of the first quarter of 2021, 92 hedge funds in the database of Insider Monkey held stakes worth $9.2 billion in Square, Inc. (NYSE: SQ), up from 89 in the preceding quarter worth $8.8 billion. 

Just like Tesla, Inc. (NASDAQ: TSLA) and PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NYSE: SQ) is one of the best crypto stocks that Redditors are buying.