Cryptocurrencies have minted countless new millionaires in recent years, but it hasn't always been a smooth ride. While some cryptocurrencies have soared in value, others have been completely wiped out. How can you stack the odds in your favor? Pay attention to what billionaires are betting on.

Looking for the best billionaire-backed cryptocurrencies? The following two picks are for you.

Don't be afraid to bet on this classic cryptocurrency

The crypto movement kicked off in the first few days of 2009 with the launch of Bitcoin (CRYPTO: BTC). It was a volatile beginning. The world was still in the midst of a global financial crisis, and few people had ever heard of cryptocurrencies. Back then, Bitcoin's value was minuscule. The first recorded Bitcoin trade didn't occur for several months, when users of an online forum exchanged 5,050 Bitcoins for $5.02. The implied price was just $0.00099 per Bitcoin.

Today, a single Bitcoin is worth nearly $60,000. Suffice to say, it's been one of the best investments of all time. But don't think it's too late to get involved. One of the original investment theses for Bitcoin was its utility as a store of value. Gold, for instance, has limited industrial uses. Yet the estimated market cap for gold is around $18 billion. That's because it's viewed as a store of value, something that can retain its social worth even outside the current economic paradigm. Bitcoin has the same potential, and despite its massive rise, the total market cap for Bitcoin is still only $1.1 billion. To match gold's value, then, the cryptocurrency would need to rise more than 15 times in value. And this doesn't account for any of the value Bitcoin can bring to the broader crypto ecosystem.

It should be no surprise that Bitcoin has perhaps more billionaires betting on its long-term future than any other cryptocurrency. Jack Dorsey, Bill Miller, Tim Draper, Paul Tudor Jones, the Winklevoss twins -- these are just a handful of the billionaires reported to own Bitcoin. If you want to bet on cryptocurrencies, don't be shy about betting on the original. You'll have more than a dozen billionaires betting alongside you.

But there's another classic cryptocurrency with potentially even more long-term upside.

Bitcoin Price data by YCharts

This option could have even more long-term upside

Bitcoin has a ton of long-term potential when it comes to its ability to serve as a store of value like gold. And while it does have an important place in the broader crypto ecosystem, it's not clear how far it can penetrate the traditional banking system. If you want to bet on crypto's ability to transform our current financial system, your best bet may be XRP (CRYPTO: XRP), a token specifically designed to be used by global financial institutions.

What is XRP? It's designed as a means for big banks to facilitate international transfers quickly, transparently, with minimal cost. The current system requires tons of paperwork, oversight, and administrative work. That creates processing delays and onerous expenses, even for small transfers. XRP runs on a digital payment platform called RippleNet, which can process an international bank transfer of any size for pennies -- all in just a few seconds. If adopted widely, the crypto would greatly improve the efficiency and accuracy of the international fund transfer market, which is valued in the trillions of dollars per year.

Now with a market cap of $32 billion, RippleNet's parent company, Ripple, has turned its co-founders into billionaires. But many other billionaires are invested through a long list of venture capital bakers, including Andreessen Horowitz and Google Ventures. If you want to bet on crypto transforming our financial system, you'll have good company investing in XRP.

Should you invest $1,000 in XRP right now?

Before you buy stock in XRP, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

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Ryan Vanzo has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy.

2 No-Brainer Billionaire-Owned Cryptocurrencies to Buy Right Now was originally published by The Motley Fool