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Editor's Note, Dec. 5, 2017:Since we first published this story in July, the 12 cryptocurrencies listed below have enjoyed an average gain of 145%. Readers who actedon these recommendationswhen we first released them have doubled their money or better. Its not too late to profit from the cryptocurrency boom. You just need to know how to find the fastest cryptocurrency profits. Stay ahead of the money and make more with our free, real-time Cryptocurrency Profit Alerts sent to your inbox. Sign up now here.

Bitcoin, with its first-mover advantage and robust security, is the best cryptocurrency to invest in today.

There are other cryptocurrencies worth putting some money into and we'll look at some of those in a moment.

But Bitcoin (BTC) has emerged as the blue chip of the bunch.

In a nutshell, here's why Bitcoin remains the best cryptocurrency to invest in despite all the competition:

And despite the big gains Bitcoin has enjoyed more than 180% just in 2017 it's not too late to invest. The price of Bitcoin is likely to double by the end of the year. And over the next decade or so, the Bitcoin price could reach $100,000 or even $1 million.

Trending: Should I Sell My Bitcoin Now That It's Above $10,000?

But what about Ethereum? The No. 2 cryptocurrency is also a very good bet

Having launched in 2015, Ethereum (ETH) is not only younger than Bitcoin, it's younger than hundreds of other cryptocurrencies.

And yet it quickly surged to the No. 2 spot, giving you some idea of how much potential Ethereum has.

That potential is reflected in the huge gains in the Ethereum price. Even with its recent pullback to just under $200, the price of Ethereum is up 2,300% this year alone.

Some mistakenly believe Ethereum is in a rivalry with Bitcoin, but their differences make them complimentary.

These are also the traits that make Ethereum the next-best cryptocurrency to invest in:

These are the primary reasons why Ethereum price predictions for the end of 2017 go as high as $500.

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Still, some investors want to venture beyond Bitcoin and Ethereum into the wider world of cryptocurrencies

Of the more than 1,000 cryptocurrencies that have been launched, all but 26 trade for under $5.

It's easy for investors to believe a cryptocurrency they pick up for $0.50 each will go to $100 or $1,000 and make them rich, even starting with modest sums of a few hundred dollars.

While not impossible, such an outcome is not likely. Apart from Bitcoin and Ethereum, only a handful of the hundreds of cryptocurrencies out there will enjoy substantial gains.

Think of cryptocurrencies today in terms of the dot-com boom of the late 1990s. Many of the overhyped Internet-based companies of the day went belly up in the dot-com bust of 2000-2001, taking billions of investor dollars with them.

But those with sound business concepts Amazon.com Inc. (Nasdaq: AMZN), eBay Inc. (Nasdaq: EBAY), and Priceline Group Inc. (Nasdaq: PCLN) went on to realize the promise of the dot-com hype.

The challenge is to figure out their latter-day equivalents among the cryptocurrencies.

For those willing and able to bear the risk, we've put together this list of the 10 best cryptocurrencies to invest in outside of Bitcoin and Ethereum

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What's the Best Cryptocurrency to Invest in Today?