Bitcoin has risen at the end of the last decade. Since then, a new class of assets emerged: the cryptocurrencies. The cryptocurrencies scenario has been advancing rapidly, by the emergence of new currencies, by the level of capitalization, either by the increase of investors or by its significant performance in 2017. Given the situation, cryptocurrencies keep consolidating itself every day as an investment alternative, becoming a permanent route for the financial market. Consequently, it becomes necessary to estimate risk measures for these assets. This study estimated the Beta coefficients of the largest cryptocurrencies – according to its capitalization level – in relation to theoretical indexes, in order to assist portfolios managers in pricing. Through a regression of past returns of virtual currencies on the returns of the cryptocurrencies indexes, stocks and a portfolio of currencies against the US dollar, the digital assets beta was estimated. From these analyses, it was possible to conclude that Bitcoin is significantly sensitive to cryptocurrencies indexes, the same condition for Ethereum, but with a softer correlation to the references, as well as Bitcoin itself. With respect to the other currencies, they did not express a relevant risk factor associated with cryptocurrencies indexes, due to low coefficient values. When analyzing the cryptocurrency in relation to the stock and currency indexes against the US dollar, it was noted that the coefficients were zero. Therefore, the digital currencies performance of this study, in the given timeframe, has an involuntary relation to the fluctuations of those indexes.