Cryptocurrency Price List

Cryptocurrencies

In recent years, cryptocurrencies have sparked widespread interest, emerging as a popular option for digital transactions and an alternative to traditional money and conventional investments like stocks and bonds.

In this guide, we’ll cover the fundamentals of crypto and explore how to invest in them responsibly.

What is cryptocurrency

Cryptocurrency refers to a form of digital money that uses cryptographic methods to process transactions securely. This technology allows cryptocurrencies to act as both a payment method and a digital ledger, making it nearly impossible to duplicate or spend the same token twice. You can either mine cryptocurrency or purchase it through online exchanges.

One of the most notable features of cryptocurrencies is that they operate independently of centralized authorities. Since they’re based on decentralized networks spread across numerous devices, they are largely resistant to governmental control or influence.

In essence, cryptocurrencies allow for secure digital payments without relying on banks or other third-party services.

To use cryptocurrencies, you’ll need a crypto wallet. These wallets may be cloud-based or installed locally on your computer or smartphone. They store your private encryption keys, which verify your identity and connect to your crypto holdings.

What is a blockchain

Blockchain is the foundational technology behind cryptocurrencies, enabling the safe, decentralized tracking of data and financial transactions.

As the name suggests, a blockchain is a series of blocks that are digitally linked and stored in a distributed online ledger. Each block includes a set of verified transactions, confirmed by users across the network. Before a new block is added, it must be approved by all nodes, which makes altering transaction data extremely difficult.

In the context of cryptocurrencies, this means that no single person or organization has control — instead, control is shared among all participants. Moreover, the information on the blockchain cannot be altered or deleted, ensuring that all transactions are permanently logged and transparent.

Ways to use cryptocurrency

While many see cryptocurrency as an investment tool, it is fundamentally a digital form of money. Over time, more companies are beginning to accept it as a legitimate payment option for goods and services.

Nowadays, cryptocurrencies are often regarded as a “store of value”, similar to gold, rather than as a daily-use currency like the dollar or euro. Due to their volatile nature and the potential for significant gains, some holders prefer not to spend them on everyday purchases.

Nonetheless, more and more businesses are starting to take Bitcoin and other digital currencies as a form of payment.

For instance, Tesla began accepting Bitcoin as payment for its cars in early 2021 (paused in May, but resumed in July). Similarly, PayPal introduced a crypto checkout feature that works with its 29 million supported merchants globally.

Shopping online with merchants that accept crypto is quite straightforward if you use a wallet that includes a built-in browser or a browser plugin. If not, most wallets provide simple options like copying and pasting SegWit (Segregated Witness) wallet addresses or scanning QR codes, making it easy to send and receive cryptocurrency both online and offline.

Typically, to complete a crypto payment, you go to the wallet’s «send» section, enter the recipient’s wallet address, pick the type and amount of cryptocurrency to send, and then confirm the transaction.

If that sounds a bit too technical, don’t worry—there’s a much simpler way to use your crypto: crypto debit cards. These cards are loaded with the digital coins of your choice and work similarly to traditional cards. While you pay in crypto, the merchant is paid in regular currency. Big names like Visa (V) and Mastercard (MA) offer these cards, and you can use them for everyday purchases just like any regular debit card.

Here are some well-known online platforms that let customers make payments using Bitcoin or other cryptocurrencies:

• Microsoft
• Shopify
• Newegg
• Overstock

Additionally, some services, such as AT&T and ProtonMail, accept Bitcoin payments either directly or via third-party platforms.

How to buy / sell cryptocurrency

If you're just stepping into the world of crypto, it might feel overwhelming at first. Here’s a basic step-by-step guide to help you get started:

1. Decide which cryptocurrencies to purchase

Your first move should be doing some research. There are thousands of cryptocurrencies available. While popular ones like Bitcoin and Ethereum are widely known and accepted, new tokens appear frequently. These newer assets can be much more volatile and are often not yet accepted by most vendors.

2. Pick a crypto exchange or broker

Digital currencies are primarily bought and sold on crypto exchanges. These platforms often charge lower fees than brokers but can be confusing for beginners. Some exchanges offer simplified buying options but at a higher cost. Ideally, it’s best to learn the basics of trading before diving in.

It’s also essential to confirm that the exchange supports the cryptocurrencies you're interested in and offers payment methods that are convenient for you.

Alternatively, you can use brokerage platforms, which are often easier for newcomers. Some well-regarded crypto brokers include Robinhood, Interactive Brokers, eToro, and Coinbase. Be aware, though, that many of them don’t let you withdraw your cryptocurrency to an external wallet. Investors with larger portfolios often prefer keeping their assets in private wallets for extra control and safety.

3. Register for an account

Next, you’ll need to sign up. This typically involves identity verification by submitting a government-issued ID (such as a passport or national ID card). You might also need to confirm your identity through email, text, or a selfie upload.

4. Choose your payment method

Once registered, you’ll have to deposit funds into your account. Common options include linking a bank account, using a wire transfer, or paying with a debit or credit card. Some platforms even support PayPal. Processing times vary, and you’ll only be able to make purchases after the funds are cleared.

Tip: It’s best to avoid credit cards when funding your account. Most card issuers treat crypto buys as cash advances, which usually come with a 5% fee—plus any platform-specific fees. That can eat into your investment. That said, some exceptions exist: on Myfin, we highlight credit cards that reward crypto purchases with cashback. Notable options include the BlockFi Rewards Visa® Signature and the Bitcoin Rewards card from Sutton Bank.

5. Place your crypto order

Once your account is funded, you're ready to buy! Simply choose the coin you want and enter the quantity or the amount of money you'd like to spend. Many platforms will calculate how much crypto you’ll receive based on the current exchange rate.

6. Store your crypto securely

As mentioned earlier, crypto assets are stored in digital wallets. These can be mobile apps, desktop software, or even paper with printed keys and codes. You’ll need these private keys to access and manage your holdings.

There are two types of storage: hot wallets and cold wallets. Hot wallets are connected to the internet and convenient for frequent use, while cold wallets are offline devices, like USB drives, and offer greater protection. Below is a comparison table outlining their main features.

A smart strategy might be to divide your crypto holdings between both wallet types. Use cold wallets for the more stable or higher-value assets, and hot wallets for the ones you actively trade. Keep in mind that if you're using a broker instead of a crypto exchange, you may be required to keep your funds in a hot wallet, as some platforms restrict coin transfers.

Ways to Invest in Cryptocurrency

The easiest method to invest in crypto is by purchasing it directly, as described earlier. However, there are other strategies available, such as:

• Putting money into crypto-related businesses – These can include firms involved in cryptocurrency mining, those offering infrastructure or services for crypto, and more. Notable examples include Nvidia, a top GPU producer essential for mining operations, and PayPal, which facilitates crypto transactions.
• Buying cryptocurrency ETFs – Crypto exchange-traded funds help manage investment risk by offering indirect exposure through financial instruments tied to cryptocurrency, like futures contracts. Popular choices include the ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF).
• Mining digital currencies – Crypto miners earn coins as compensation for their work, which they can hold as an investment or convert into other currencies or fiat money.

Acquiring digital currencies is relatively simple, but understanding the mechanisms of crypto investing is crucial for making smart financial decisions.

Cryptocurrencies are highly volatile, making them a risky investment. Even major coins like Bitcoin often experience sharp price fluctuations — sometimes more than 10% within a few hours.

Another risk involves regulation. Cryptocurrencies currently face minimal oversight, meaning investors lack the protections typically associated with traditional financial markets. There's also the possibility of stricter regulations or outright bans in the future, which could render some cryptocurrencies worthless.

That’s why it’s vital to thoroughly investigate any digital currency you're considering and stay informed about the factors that can influence its value and growth.

Cryptocurrency Taxation in the United States

In the U.S., the IRS treats cryptocurrencies as property rather than currency, similar to stocks and bonds. This means when you sell crypto at a profit, capital gains taxes apply. The tax rate depends on how long you’ve held the asset. If held for under a year, gains are taxed as short-term capital gains, with rates ranging from 10% to 37% depending on your income. If the holding period is over a year, long-term capital gains rates apply—these are generally lower: 0%, 15%, or 20%. The tables below outline the tax brackets:

Short-Term Crypto Capital Gain Tax Rates in 2022

Long-Term Crypto Capital Gain Tax Rates in 2022

Also, remember that spending cryptocurrency can trigger a tax event. You’ll be taxed on any appreciation in value. For instance, if you purchased Ethereum at $200 and it's now worth $400 when you spend it, the $200 gain is considered taxable.

Cryptocurrency miners must report their earnings as business income on their taxes.

Smart Strategies for Safe Crypto Investing

Since investing in digital currencies carries substantial risk, here are several best practices to help minimize potential downsides.

• Do thorough research – It’s crucial to deeply investigate any digital asset before you invest. Study different exchanges and brokers, as many have been targets of cyberattacks. Choose platforms with strong security, low transaction costs, and user-friendly features. Reading user reviews can help. Also, analyze the specific cryptocurrency you’re interested in. Reading the project’s whitepaper gives insight into its goals and technology. Online forums can be useful too—but always take opinions with a grain of salt, as no one can accurately forecast market movements.
• Choose secure storage – There are several ways to store cryptocurrency. Take time to explore your options and select the storage solution that matches your security needs and trading habits.
• Spread your investments – Avoid concentrating all your funds in one digital coin. Diversification is a key tactic to reduce exposure to volatility.
• Use cold wallets – Store at least a portion of your crypto assets in an offline wallet (cold storage) to protect them from online threats and hacking attempts.

Top 5 Cryptocurrencies: A Quick Glance

Here are some of the most prominent and widely discussed cryptocurrencies today.

Bitcoin (BTC)

Market cap: $386 billion (as of July 6)

Launched in 2009 by the mysterious Satoshi Nakamoto, Bitcoin was the world’s first cryptocurrency. In April 2017, one Bitcoin cost around $1,300. By April 2022, its price surged to roughly $40,000—an astonishing 3,000% increase.

Ethereum (ETH)

Market cap: $139 billion (as of July 6)

Ethereum is a blockchain platform and digital currency known for its flexibility and smart contract functionality. Popular among developers, it powers technologies like NFTs. In 2017, ETH traded at $50; by 2022, it had climbed to around $3,000, reflecting a 6,000% gain.

Tether (USDT)

Market cap: $66 billion (as of July 6)

Tether is a stablecoin pegged to the US dollar, maintaining a 1:1 value ratio. This makes it a preferred option for users seeking a stable digital currency primarily for transactions rather than investment.

Ripple (XRP)

Market cap: $32 billion (as of July 6)

Ripple serves as both a cryptocurrency and a global payment system. Unlike Bitcoin, which is open for anyone to validate transactions, Ripple uses a consensus process limited to trusted participants in its network.

Polkadot

Market cap: $8 billion (as of July 6)

Polkadot is a multi-chain blockchain system aiming to interconnect isolated blockchains. Its mission is to improve communication and interoperability across different chains, solving a major issue in the blockchain world.