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Are you exploring the world of cryptocurrency and wondering where to begin? We’ve looked at a few of the most talked-about cryptocurrencies available on CoinJar, one of the longest-running crypto platforms in the world. Below is an educational overview designed to help you understand some of the options often discussed by those new to crypto.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary

1. Bitcoin (BTC) – Score: 9/10

Bitcoin is often the first cryptocurrency that people hear about. It’s been around the longest and is frequently referenced in the media. Many see it as a way to gain exposure to crypto in general.

2. Ethereum (ETH) – Score: 9/10

Ethereum is known for its use in powering decentralised apps, NFTs, and smart contracts. It has a large development community and wide recognition among beginners exploring the tech side of crypto.

3. USD Coin (USDC) – Score: 9/10

This is a type of “stablecoin”. This means that it is typically pegged to the value of another asset or currency (in this case, US Dollars). Some people use it as a way to reduce volatility, though stablecoins can and have been known to “lose their peg” so are not foolproof. Stablecoins are often used for “parking” funds during market volatility. 

4. XRP (XRP) – Score: 8/10

XRP is often discussed in connection with banking and cross-border payments. Its transaction speed and past involvement in legal cases have brought it visibility among newer users researching crypto.

5. Polygon (POL) – Score: 8/10

Polygon is a network often used for scaling Ethereum-based apps. It has attracted interest in sectors like gaming and NFTs and is available through major exchanges including CoinJar.

6. Chainlink (LINK) – Score: 8/10

Chainlink helps blockchains interact with real-world data. While it’s more technical than some others on this list, it’s frequently mentioned in educational content about decentralised finance.

7. Solana (SOL) – Score: 8/10

Solana supports a broad range of apps including DeFi and digital collectibles. Some new users are drawn to its focus on speed and keeping fees low, although it has seen both rapid growth and setbacks in the past.

How Did We Score These?

Each crypto was given a score out of 10 based on the following educational criteria:

1. Market Familiarity – How well-known it is among new crypto users.
   
    
2. Access and Availability – How easy it is to access on beginner-friendly platforms like CoinJar.
   
    
3. Use Case Simplicity – Whether its purpose is relatively easy to explain to someone new.
   
    
4. Historical Performance Stability – Not performance itself, but whether it's known for sudden shifts or a more established presence.
   
    
5. Community and Developer Support – Based on activity around the project.
   
    

Technical Learning Curve – How much technical knowledge may be needed to interact with it.
 

The scores assigned to each cryptocurrency in the article are based on three key educational criteria: Market Familiarity, Access and Availability, and Use Case Simplicity. Each criterion was evaluated on a scale from 1 to 5, with the final score calculated as an average of these three factors, doubled to fit a 1-10 scale.

Bitcoin (BTC) – Score: 9/10

Market Familiarity (4/5): Bitcoin scores highly due to its widespread recognition, frequent media coverage, and status as the first and most established cryptocurrency, making it a common entry point for beginners.

Access and Availability (5/5): Bitcoin is available on virtually all major crypto platforms, including CoinJar, ensuring easy access for new users.

Use Case Simplicity (4/5): Its primary use case as a store of value is straightforward and appealing for those seeking general crypto exposure, though its technical aspects may require some learning.
Final Score Calculation: (4 + 5 + 4) / 3 * 2 = 9/10

Ethereum (ETH) – Score: 9/10

Market Familiarity (4/5): Ethereum is well-known for its role in powering decentralized apps, NFTs, and smart contracts, making it a popular choice among beginners interested in blockchain technology.

Access and Availability (5/5): It is widely available on major exchanges like CoinJar, ensuring accessibility for new users.

Use Case Simplicity (4/5): Ethereum’s use cases, including NFTs and DeFi, are relatively easy to understand, though its technical complexity may pose a slight learning curve.
Final Score Calculation: (4 + 5 + 4) / 3 * 2 = 9/10

USD Coin (USDC) – Score: 9/10

Market Familiarity (4/5): As a stablecoin pegged to the US dollar, USDC is familiar to many beginners due to its stability and frequent mention in crypto education resources.

Access and Availability (5/5): USDC is available on major platforms like CoinJar, making it highly accessible for new users.

Use Case Simplicity (4/5): Its use as a low-volatility “parking” option during market fluctuations is straightforward, though the risk of de-pegging is noted as a consideration.
Final Score Calculation: (4 + 5 + 4) / 3 * 2 = 9/10

XRP (XRP) – Score: 8/10

Market Familiarity (4/5): XRP’s association with banking and cross-border payments, along with its visibility due to legal cases, makes it recognizable to new users.

Access and Availability (4/5): It is available on major exchanges like CoinJar, ensuring good accessibility for beginners.

Use Case Simplicity (4/5): Its primary use case for fast, low-cost transactions is relatively simple, though its legal history may add a layer of complexity.
Final Score Calculation: (4 + 4 + 4) / 3 * 2 = 8/10

Polygon (POL) – Score: 8/10

Market Familiarity (4/5): Polygon’s role as a layer-2 scaling solution for Ethereum, particularly in gaming and NFTs, gives it good visibility among beginners.

Access and Availability (4/5): Available on major exchanges like CoinJar, Polygon is easily accessible for new users.

Use Case Simplicity (4/5): Its use in scaling Ethereum-based apps is fairly straightforward, though technical aspects may require some learning.
Final Score Calculation: (4 + 4 + 4) / 3 * 2 = 8/10

Chainlink (LINK) – Score: 8/10

Market Familiarity (4/5): Chainlink is often mentioned in educational content about decentralized finance, giving it solid recognition among beginners.

Access and Availability (4/5): It is available on platforms like CoinJar, ensuring accessibility for new users.

Use Case Simplicity (4/5): Its role in connecting blockchains to real-world data is somewhat technical but still approachable for those new to crypto.
Final Score Calculation: (4 + 4 + 4) / 3 * 2 = 8/10

This is not financial advice or a recommendation to invest. Our scoring is purely for educational context.

If you want to explore cryptocurrencies in a beginner-friendly environment, CoinJar is a cryptocurrency exchange to consider. Learn at your own pace, explore the platform, and decide if crypto is something you want to learn more about.

Happy investing,

MoneyMagpie

Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary

Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service.

Specific risks associated with stablecoins

CoinJar may from time to time support stablecoins, which are a class of digital currencies which generally purport to be backed by, or aim to maintain stable value relative to, another asset including fiat currency or commodities such as silver or gold. In particular, there is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset.

Stablecoins carry the following risks:

• Depegging events: Depegging events may occur with stablecoins that fail to maintain adequate controls and risk mitigants. A depegging event is when the value of the stablecoin no longer matches the value of the underlying asset. This could result in a loss of some or all of your investment.
  
   
• Counterparty risk: Counterparty risk arises when an asset is backed by collateral, involving a third party maintaining the collateral, which introduces risk if the party becomes insolvent or fails to maintain it.
  
   
• Redemption risk: Redemption risk refers to the possibility that an asset's ability to be redeemed for underlying collateral may not be as anticipated during market fluctuations or operational issues.
  
   
• Collateral risk: Collateral risk refers to the possibility of the collateral's value declining or becoming volatile, potentially impacting the asset's stability, particularly when it is another crypto-asset.
  
   
• Exchange rate fluctuations: Stablecoins, often denominated in US Dollars, expose investors to fluctuations in the USD:GBP exchange rate.
  
   
• Algorithmic risk: Algorithm risk refers to the possibility of an asset's stability being compromised due to unexpected failure or behaviour of the underlying algorithm, potentially leading to loss of value.
  
   

We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets.

We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

​​CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).